Direct Answer
Waters Corporation reported revenue of $3.2 billion for the fiscal year ended December 31, 2025, with an operating margin of 25.4% and net income of $643 million, according to its SEC filings. Revenue grew 7.0% from the prior year.
What Are Waters Corporation's Key Financial Figures?
| Fiscal year | FY2025 ended December 31, 2025 | FY2024 ended December 31, 2024 | FY2023 ended December 31, 2023 | FY2022 ended December 31, 2022 |
|---|---|---|---|---|
| Revenue | $3.2 billion | $3.0 billion | $3.0 billion | $3.0 billion |
| Operating income | $803 million | $826 million | $818 million | $873 million |
| Operating margin | 25.4% | 27.9% | 27.7% | 29.4% |
| Net income | $643 million | $638 million | $642 million | $708 million |
| Net margin | 20.3% | 21.6% | 21.7% | 23.8% |
| Operating cash flow | $653 million | $762 million | $603 million | $612 million |
| Capital expenditures | $113 million | $142 million | $161 million | Not reported |
| Free cash flow | $540 million | $620 million | $442 million | Not reported |
Operating margin narrowed by 2.6 percentage points between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was $540 million against net income of $643 million; cash generation fell short of reported earnings, which is worth reconciling in the cash flow statement.
What Does Waters Corporation's Balance Sheet Show?
| Cash and cash equivalents | $588 million |
|---|---|
| Long-term debt | $947 million |
| Total assets | $5.1 billion |
| Total liabilities | $2.5 billion |
| Shareholders' equity | $2.6 billion |
| Current ratio | 1.7x |
Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions.
Where These Numbers Come From
Every figure on this page is a value Waters Corporation reported in its own SEC filings, read from the SEC's XBRL data (accession 0001193125-26-062604 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 12, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary.
Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation.
Frequently Asked Questions
What was Waters Corporation's revenue in fiscal 2025?
Waters Corporation reported revenue of $3.2 billion for the fiscal year ended December 31, 2025, according to its SEC filings.
What is Waters Corporation's operating margin?
Waters Corporation's operating margin was 25.4% in fiscal 2025: operating income of $803 million on revenue of $3.2 billion.
How much free cash flow did Waters Corporation generate?
Operating cash flow of $653 million less capital expenditures of $113 million gives free cash flow of $540 million for fiscal 2025.