Waters Corporation

LSE:0LTI Stock Report

Market Cap: US$22.2b

Waters Valuation

Is 0LTI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0LTI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0LTI ($369.58) is trading below our estimate of fair value ($415.6)

Significantly Below Fair Value: 0LTI is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0LTI?

Key metric: As 0LTI is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0LTI. This is calculated by dividing 0LTI's market cap by their current earnings.
What is 0LTI's PE Ratio?
PE Ratio35.7x
EarningsUS$622.64m
Market CapUS$22.24b

Price to Earnings Ratio vs Peers

How does 0LTI's PE Ratio compare to its peers?

The above table shows the PE ratio for 0LTI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average23.9x
ERGO Ergomed
46.7x14.2%UK£701.1m
HVO hVIVO
8x-29.6%UK£140.2m
GSK GSK
21.7x23.2%UK£54.4b
HIK Hikma Pharmaceuticals
19.3x12.2%UK£4.4b
0LTI Waters
35.7x8.6%US$22.2b

Price-To-Earnings vs Peers: 0LTI is expensive based on its Price-To-Earnings Ratio (35.7x) compared to the peer average (16.3x).

Price to Earnings Ratio vs Industry

How does 0LTI's PE Ratio compare vs other companies in the European Life Sciences Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
0LTI 35.7xIndustry Avg. 38.2xNo. of Companies4PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0LTI is good value based on its Price-To-Earnings Ratio (35.7x) compared to the European Life Sciences industry average (37.3x).

Price to Earnings Ratio vs Fair Ratio

What is 0LTI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0LTI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.7x
Fair PE Ratio27.2x

Price-To-Earnings vs Fair Ratio: 0LTI is expensive based on its Price-To-Earnings Ratio (35.7x) compared to the estimated Fair Price-To-Earnings Ratio (27.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 0LTI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$369.58
US$381.96
+3.4%
8.0%US$430.00US$340.00n/a18
Dec ’25US$384.72
US$375.45
-2.4%
7.5%US$415.00US$325.00n/a17
Nov ’25US$383.84
US$360.16
-6.2%
7.0%US$415.00US$325.00n/a17
Oct ’25US$357.49
US$341.40
-4.5%
6.7%US$380.00US$300.00n/a17
Sep ’25US$343.78
US$340.22
-1.0%
6.7%US$380.00US$300.00n/a17
Aug ’25US$342.29
US$337.73
-1.3%
6.3%US$375.00US$300.00n/a16
Jul ’25US$280.45
US$324.14
+15.6%
5.7%US$358.00US$275.00n/a16
Jun ’25US$307.65
US$326.01
+6.0%
4.8%US$358.00US$295.00n/a16
May ’25US$312.31
US$325.36
+4.2%
4.9%US$350.00US$300.00n/a17
Apr ’25US$345.05
US$323.50
-6.2%
4.8%US$350.00US$300.00n/a16
Mar ’25US$343.00
US$323.50
-5.7%
4.8%US$350.00US$300.00n/a16
Feb ’25US$322.81
US$299.47
-7.2%
8.2%US$346.50US$250.00n/a16
Jan ’25US$328.34
US$281.03
-14.4%
10.4%US$346.50US$230.00n/a17
Dec ’24US$286.51
US$272.06
-5.0%
8.7%US$323.00US$230.00US$384.7217
Nov ’24US$236.50
US$289.18
+22.3%
6.1%US$323.00US$260.00US$383.8417
Oct ’24US$276.26
US$299.47
+8.4%
5.2%US$333.00US$270.00US$357.4917
Sep ’24US$281.38
US$302.88
+7.6%
4.5%US$333.00US$275.00US$343.7817
Aug ’24US$280.92
US$296.49
+5.5%
5.8%US$325.00US$270.00US$342.2917
Jul ’24US$267.47
US$309.20
+15.6%
7.4%US$375.00US$280.00US$280.4517
Jun ’24US$255.49
US$313.20
+22.6%
7.3%US$375.00US$280.00US$307.6517
May ’24US$300.43
US$344.91
+14.8%
5.9%US$376.00US$280.00US$312.3117
Apr ’24US$308.90
US$349.88
+13.3%
6.6%US$385.00US$280.00US$345.0516
Mar ’24US$309.21
US$348.20
+12.6%
6.6%US$385.00US$280.00US$343.0015
Feb ’24US$331.60
US$342.00
+3.1%
7.3%US$380.00US$280.00US$322.8116
Jan ’24US$338.83
US$334.25
-1.4%
6.7%US$376.00US$280.00US$328.3416
Dec ’23US$347.99
US$333.20
-4.3%
6.8%US$376.00US$280.00US$286.5115

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/30 09:27
End of Day Share Price 2024/12/30 00:00
Earnings2024/09/28
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Waters Corporation is covered by 44 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Catherine Ramsey SchulteBaird
Charles ButlerBarclays
Luke SergottBarclays