Company Valuation: Waters Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 22,742 20,352 19,466 22,027 22,613 43,518 - -
Change - -10.51% -4.35% 13.16% 2.66% 92.45% - -
Enterprise Value (EV) 1 23,687 21,445 21,426 23,329 23,433 47,691 46,219 44,941
Change - -9.46% -0.09% 8.88% 0.45% 103.52% -3.09% -2.77%
P/E 33.4x 29.2x 30.4x 34.6x 35.3x 77.5x 38.3x 38.3x
PBR 61.6x 41x 17x 12.1x 8.86x 2.66x 2.53x 2.34x
PEG - 5.82x -4.01x -28.85x 75.61x -1.7x 0x 185.65x
Capitalization / Revenue 8.16x 6.85x 6.58x 7.45x 7.14x 6.73x 6.1x 5.75x
EV / Revenue 8.5x 7.22x 7.25x 7.89x 7.4x 7.38x 6.48x 5.94x
EV / EBITDA 24.5x 20.9x 19.9x 21.1x 20x 22.5x 19.4x 17.3x
EV / EBIT 28.2x 23.9x 23.5x 25.5x 24.3x 26.2x 22.1x 19.7x
EV / FCF 40.4x 49.2x 48.5x 37.6x 43.4x 60.8x 25.2x 19.7x
FCF Yield 2.47% 2.03% 2.06% 2.66% 2.3% 1.64% 3.97% 5.07%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 11.17 11.73 10.84 10.71 10.76 5.712 11.56 11.58
Distribution rate - - - - - - - -
Net sales 1 2,786 2,972 2,956 2,958 3,165 6,466 7,134 7,571
EBITDA 1 965.9 1,029 1,079 1,108 1,171 2,121 2,385 2,598
EBIT 1 841.4 898.1 912.9 916.3 964.4 1,818 2,087 2,277
Net income 1 692.8 707.8 642.2 637.8 642.6 579.2 1,183 1,086
Net Debt 1 944.6 1,093 1,960 1,301 819.6 4,173 2,701 1,423
Reference price 2 372.60 342.58 329.23 370.98 379.83 442.94 442.94 442.94
Nbr of stocks (in thousands) 61,036 59,408 59,127 59,376 59,535 98,248 - -
Announcement Date 01/02/22 15/02/23 06/02/24 12/02/25 09/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
33.72x5.89x22.57x0.27% 251B
38.34x6.85x21.71x0.62% 160B
44.95x11.91x26.28x-.--% 147B
16.68x3.42x11.13x-.--% 63.93B
34.31x6.87x21.72x-.--% 50.05B
34.13x6.75x22.91x0.59% 49.4B
19.04x2.31x11.68x2.65% 48.94B
77.55x7.38x22.48x-.--% 43.52B
54.97x8.85x31.25x-.--% 41.06B
Average 39.30x 6.69x 21.30x 0.46% 94.9B
Weighted average by Cap. 37.71x 7.04x 21.95x 0.38%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  3. WAT Stock
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  5. Valuation Waters Corporation