Waters Corporation

Equities

WAT

US9418481035

Advanced Medical Equipment & Technology

Market Closed - Nyse Other stock markets 21:00:02 23/01/2026 GMT			5-day change	1st Jan Change
392.31 ^USD	-2.03%		+1.28%	+3.29%

01-13	Waters Corporation Presents at 44th Annual J.P. Morgan Healthcare Conference, Jan-12-2026 02:15 PM
01-07	Leerink Partners Adjusts Price Target on Waters to $425 From $400, Maintains Outperform Rating	MT

Waters : Investor Presentation

Published on 07/14/2025 at 03:57 pm BST

Publicnow

WATERS CORPORATION

-2.03%

Biosciences & Diagnostic Solutions

CRE A T I NG A

Life Science Tools & Diagnostics Leader

Focused on Regulated, High-Volume Testing

July 14, 2025

Today's Speakers

Biosciences & Diagnostic Solutions

Dr. Udit Batra

Waters President

& Chief Executive Officer

Tom Polen

BD Chairman, CEO & President

Amol Chaubal

Waters SVP,

Chief Financial Officer

Christopher DelOrefice

BD EVP,

Chief Financial Officer

A Strong, Shared Culture of Pioneering Science

Biosciences & Diagnostic Solutions

50+ Years

Defining Separations Science with Liquid Chromatography

Best-in-Class Innovators

50+ Years

Advancing the Field of Biology with Flow Cytometry

Biosciences & Diagnostic Solutions

1965

R. B. Woodward Nobel Prize in Chemistry

2019

Kaelin Jr., Ratcliffe, & Semenza Nobel Prize for Medicine

Nobel Laureate R. B. Woodward

Used first commercial HPLC in B12 synthesis w/ Jim Waters

Nobel Prize

Cover Story of Science (Jan. 2022) Acknowledging Landmark Innovation of BD CellView in Flow Cytometry

A Significant Value Creation Opportunity

Biosciences & Diagnostic Solutions

Creates an Innovation Leader

with Robust Financial Strength…

Biosciences & Diagnostic Solutions

…Serving High Volume, Regulated Applications w/ Industry-Leading Brands

Large TAM w/ Consistent Growth Drivers

Doubles Waters TAM to ~$40B at 5-7% growth in a broader range of regulated sources1

Strong Strategic Fit

Immediate commercial impact from Waters' proven execution model Accelerates multiple high-growth adjacencies at once

Increases Growth Stability

>70% of revenue annually recurring + >50% instruments replaced every 5-10 yrs

~$6.5B

Revenue (Pro Forma CY 25E)

~10%

R&D as % of Sales

~$2.0B

Adj. EBITDA (Pro Forma CY-25E)

Milford, MA

Headquarters

~16K

Employees

NYSE:WAT

Ticker

An Industry-Leading Financial Outlook

Significant cost & revenue synergies w/ rapid path to flagship margin profile2 Expected MSD-HSD revenue & Mid-Teens EPS growth3

Note: 1. TAM = Total Addressable Market and is based on internal management estimates. 2; 3. Statements denotes expectations on a projected and adjusted pro forma operating margin and EPS basis.

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Disclaimer

Waters Corporation published this content on July 14, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on July 14, 2025 at 14:56 UTC.

Latest news about Waters Corporation

01-13	Waters Corporation Presents at 44th Annual J.P. Morgan Healthcare Conference, Jan-12-2026 02:15 PM
01-07	Leerink Partners Adjusts Price Target on Waters to $425 From $400, Maintains Outperform Rating	MT
01-06	Guggenheim Initiates Waters at Buy With $440 Price Target	MT
01-05	William Blair Initiates Waters at Outperform	MT
12-19	Deutsche Bank Adjusts Waters Price Target to $370 From $355, Maintains Hold Rating	MT
12-17	Jefferies Adjusts Price Target on Waters to $470 From $405, Maintains Buy Rating	MT
12-16	Rothschild & Co Redburn Adjusts Price Target on Waters to $460 From $430, Maintains Buy Rating	MT
12-15	Wells Fargo Adjusts PT on Waters to $415 From $385, Maintains Equalweight Rating	MT
12-10	Waters Shares Rise After Wolfe Research Upgrade	MT
12-10	Wolfe Research Upgrades Waters to Outperform From Peer Perform, Price Target is $480	MT
12-02	Agilent, Waters Face Diverging Outlooks on Growth and Integration Risks, Morgan Stanley Says	MT
12-02	Morgan Stanley Initiates Waters at Equalweight With $423 Price Target	MT
11-24	Waters Proposed Acquisition of Becton, Dickinson's Biosciences, Diagnostic Operations Gets EC's Approval	MT
11-24	EU Approves Waters Corp. Purchase of Becton, Dickinson's Biosciences, Diagnostic Businesses	MT
11-18	Waters Corporation Presents at Jefferies London Healthcare Conference 2025, Nov-18-2025 02:30 PM
11-14	TD Cowen Adjusts Price Target on Waters to $400 From $390, Maintains Hold Rating	MT
11-11	Waters Corporation Boosts Lab Productivity and Sample Throughput with Launch of Its Charged Aerosol Detector Designed for Empower Software	CI
11-06	Becton sees 2026 profit slightly above estimates amid ongoing market challenges	RE
11-06	Becton sees 2026 profit slightly above estimates on strong demand for drug delivery devices	RE
11-05	Déjà Vu, With Better Balance Sheets
11-05	Baird Adjusts Price Target on Waters to $398 From $386, Maintains Outperform Rating	MT
11-05	Wells Fargo Adjusts Price Target on Waters to $385 From $315, Maintains Equalweight Rating	MT
11-05	JPMorgan Adjusts Price Target on Waters to $360 From $325, Maintains Neutral Rating	MT
11-05	Stifel Adjusts Price Target on Waters to $380 From $360, Maintains Hold Rating	MT
11-05	TD Cowen Adjusts Price Target on Waters to $390 From $345, Maintains Hold Rating	MT

Chart Waters Corporation

Duration

Period

WAT: Dynamic Chart

Company Profile

Waters Corporation specializes in the conception, the manufacturing and the marketing of analytical instruments. Net sales break down by activity as follows: - sale of instruments and analytical systems (62.3%): chromatographic analysis instruments (56% of net sales; instruments high performance liquid chromatography and mass spectrometry), chemistry consumables (30.6%; including columns chemical separation) and thermal analysis, rheometry and calorimetry instruments (13.4%); - services (37.7%): support services, training, etc. Net sales are distributed by market between pharmaceutical (58.1%), industrial (30.7%), academic institutions and governmental agencies (11.2%). Net sales are distributed geographically as follows: the United States (31.6%), Americas (6.2%), China (13.4%), Japan (5.3%), Asia (14%) and Europe (29.5%).

Employees

7,600

Sector

Advanced Medical Equipment & Technology

Calendar

02-12 - Q4 2025 Earnings Release

More about the company