Update shared on 10 Dec 2025
Fair value Increased 1.57%Narrative Update on Waters
Analysts have modestly raised their price target on Waters by approximately $6 per share, reflecting slightly lower discount rate assumptions, a small improvement in projected profit margins, and a marginally higher future P/E multiple that together support a higher fair value estimate.
What's in the News
- Launched a new Charged Aerosol Detector, purpose built for Empower chromatography software, expanding Waters portfolio of LC detectors and strengthening its position in compliant, high sensitivity analysis for low UV analytes, with shipments expected by April 2026 (Key Developments)
- Unveiled the Xevo Charge Detection Mass Spectrometer to enable high resolution characterization of very large biomolecules that are central to next generation therapeutics, leveraging technology acquired from Indiana University and Megadalton Solutions (Key Developments)
- Raised full year 2025 guidance and now expects constant currency sales growth of 6.7% to 7.3% and GAAP EPS of 11.10 to 11.20 dollars per diluted share (Key Developments)
- Issued new guidance for the fourth quarter of 2025, targeting constant currency sales growth of 5.0% to 7.0% and GAAP EPS of 4.10 to 4.20 dollars per diluted share (Key Developments)
- Completed its multi year share repurchase program announced in January 2019, buying back more than 15.1 million shares for approximately 3.8 billion dollars in total consideration (Key Developments)
Valuation Changes
- The fair value estimate has risen slightly to approximately $395 per share from about $389 per share, reflecting modest valuation upside.
- The discount rate has decreased marginally from roughly 7.89 percent to about 7.86 percent, modestly boosting the present value of future cash flows.
- Revenue growth has edged down slightly from around 6.29 percent to about 6.25 percent, indicating a small tempering of top line expectations.
- The net profit margin has increased very slightly from roughly 26.05 percent to about 26.08 percent, reflecting a minimal improvement in projected profitability.
- The future P/E has risen modestly from about 29.6x to roughly 30.1x, implying a slightly higher expected valuation multiple on forward earnings.
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