Market Cap
US$14.0b
Last Updated
2019/11/22 23:48 UTC
Data Sources
Company Financials +
Executive Summary
Waters Corporation, a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe.
Snowflake
Fundamentals
Proven track record with mediocre balance sheet.
Similar Companies
Share Price & News
How has Waters's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: WAT has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
0.6%
WAT
1.9%
US Life Sciences
-0.2%
US Market
1 Year Return
11.2%
WAT
20.6%
US Life Sciences
16.1%
US Market
Return vs Industry: WAT underperformed the US Life Sciences industry which returned 20.6% over the past year.
Return vs Market: WAT underperformed the US Market which returned 16.1% over the past year.
Shareholder returns
| WAT | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.6% | 1.9% | -0.2% |
| 30 Day | 2.0% | 6.8% | 3.7% |
| 90 Day | 6.7% | 7.5% | 8.5% |
| 1 Year | 11.2%11.2% | 20.9%20.6% | 18.7%16.1% |
| 3 Year | 57.7%57.7% | 95.5%93.8% | 46.9%37.4% |
| 5 Year | 88.7%88.7% | 117.8%114.7% | 61.8%44.0% |
Price Volatility Vs. Market
How volatile is Waters's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Investors Who Bought Waters (NYSE:WAT) Shares Five Years Ago Are Now Up 87%2 months ago | Simply Wall St
Are Waters Corporation (NYSE:WAT) Investors Paying Above The Intrinsic Value?3 months ago | Simply Wall St
Should You Investigate Waters Corporation (NYSE:WAT) At US$210?Valuation
Is Waters undervalued compared to its fair value and its price relative to the market?
26.7x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: WAT ($218.72) is trading above our estimate of fair value ($165.2)
Significantly Below Fair Value: WAT is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: WAT is good value based on its PE Ratio (26.7x) compared to the Life Sciences industry average (33x).
PE vs Market: WAT is poor value based on its PE Ratio (26.7x) compared to the US market (18x).
Price to Earnings Growth Ratio
PEG Ratio: WAT is poor value based on its PEG Ratio (11.9x)
Price to Book Ratio
PB vs Industry: WAT is overvalued based on its PB Ratio (123.3x) compared to the US Life Sciences industry average (5x).
Next Steps
Future Growth
How is Waters forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?
2.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: WAT's forecast earnings growth (2.2% per year) is below the savings rate (2.7%).
Earnings vs Market: WAT's earnings (2.2% per year) are forecast to grow slower than the US market (14.3% per year).
High Growth Earnings: WAT's earnings are forecast to grow, but not significantly.
Revenue vs Market: WAT's revenue (3.9% per year) is forecast to grow slower than the US market (7.3% per year).
High Growth Revenue: WAT's revenue (3.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if WAT's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Waters performed over the past 5 years?
-3.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: WAT has high quality earnings.
Growing Profit Margin: WAT's current net profit margins (24%) are higher than last year (2.3%).
Past Earnings Growth Analysis
Earnings Trend: WAT's earnings have declined by -3.5% per year over the past 5 years.
Accelerating Growth: WAT's earnings growth over the past year (940.6%) exceeds its 5-year average (-3.5% per year).
Earnings vs Industry: WAT earnings growth over the past year (940.6%) exceeded the Life Sciences industry 37.2%.
Return on Equity
High ROE: Whilst WAT's Return on Equity (499.29%) is outstanding, this metric is skewed due to their high level of debt.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Waters's financial position?
Financial Position Analysis
Short Term Liabilities: WAT's short term assets ($1.3B) exceeds its short term liabilities ($597.2M)
Long Term Liabilities: WAT's short term assets ($1.3B) do not cover its long term liabilities (1.8B)
Debt to Equity History and Analysis
Debt Level: WAT's debt to equity ratio (1173.7%) is considered high.
Reducing Debt: WAT's debt to equity ratio has increased from 77.6% to 1173.7% over the past 5 years.
Debt Coverage: WAT's debt is well covered by operating cash flow (46.7%).
Interest Coverage: WAT's interest payments on its debt are well covered by EBIT (40.3x coverage).
Balance Sheet
Inventory Level: WAT has a high level of physical assets or inventory.
Debt Coverage by Assets: WAT's debt is not covered by short term assets (assets are 1x debt).
Next Steps
Dividend
What is Waters's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: Unable to evaluate WAT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate WAT's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if WAT's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if WAT's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of WAT's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
What is the CEO of Waters's salary, the management and board of directors tenure and is there insider trading?
2.8yrs
Average management tenure
CEO
Laurie Glimcher (67yo)
4.2yrs
Tenure
US$289,973
Compensation
Dr. Laurie H. Glimcher, M.D., has been the Chief Executive Officer and President of Dana-Farber Cancer Institute, Inc. since October 1, 2016. Dr. Glimcher has been Richard and Susan Smith Professor of Medi ...
Management Age and Tenure
2.8yrs
Average Tenure
56.5yo
Average Age
Experienced Management: WAT's management team is considered experienced (2.8 years average tenure).
Board Age and Tenure
8.0yrs
Average Tenure
62yo
Average Age
Experienced Board: WAT's board of directors are considered experienced (8 years average tenure).
Insider Trading
Insider Buying: WAT insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Senior Key Executive |
| Shares | 3,175 |
| Max Price | US$215.00 |
| Entity | Individual |
| Role | Senior Key Executive |
| Shares | 825 |
| Max Price | US$215.00 |
| Entity | Individual |
| Role | Chief Executive Officer Independent Director |
| Shares | 2,200 |
| Max Price | US$214.64 |
| Entity | Individual |
| Shares | 2,006 |
| Max Price | US$239.69 |
| Entity | Individual |
| Role | Chief Executive Officer Independent Director |
| Shares | 1,485 |
| Max Price | US$238.69 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 3,000 |
| Max Price | US$239.64 |
| Entity | Individual |
| Role | Senior Key Executive Senior Vice President of Global Markets |
| Shares | 1,131 |
| Max Price | US$189.53 |
| Entity | Individual |
| Shares | 2,429 |
| Max Price | US$186.76 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Mark Beaudouin (64yo)
- Tenure: 0.08yrs
- Compensation: US$2.11m
Laurie Glimcher (67yo)
Independent Director
- Tenure: 4.2yrs
- Compensation: US$289.97k
Elizabeth Rae (61yo)
Senior Vice President of Global Human Resources
- Tenure: 3.8yrs
- Compensation: US$1.58m
Chris O'Connell (52yo)
President
- Tenure: 1.9yrs
- Compensation: US$8.26m
Bryan Brokmeier
Senior Director of Investor Relations
- Tenure: 0yrs
Sherry Buck (55yo)
Senior VP & CFO
- Tenure: 2.8yrs
- Compensation: US$2.63m
Michael Harrington (58yo)
Senior Vice President of Global Markets
- Tenure: 3.8yrs
- Compensation: US$2.42m
Rob Carson (45yo)
Senior Vice President of Corporate Development
- Tenure: 1.8yrs
- Compensation: US$3.78m
Francis Kim (52yo)
Senior Vice President of Global Operations
- Tenure: 1.8yrs
- Compensation: US$2.42m
Keeley Aleman
Senior VP
- Tenure: 0.08yrs
Board Members
Ed Conard (62yo)
Independent Director
- Tenure: 25.3yrs
- Compensation: US$314.97k
Linda Baddour (61yo)
Independent Director
- Tenure: 1.2yrs
- Compensation: US$134.29k
Christopher Kuebler (65yo)
Independent Director
- Tenure: 13.5yrs
- Compensation: US$307.47k
Laurie Glimcher (67yo)
Independent Director
- Tenure: 4.2yrs
- Compensation: US$289.97k
Michael Berendt (70yo)
Independent Director
- Tenure: 21.7yrs
- Compensation: US$297.97k
Tom Salice (59yo)
Lead Director
- Tenure: 15.8yrs
- Compensation: US$336.47k
JoAnn Reed (63yo)
Independent Director
- Tenure: 13.5yrs
- Compensation: US$319.97k
Gary Hendrickson (62yo)
Independent Director
- Tenure: 1.2yrs
- Compensation: US$132.79k
Chris O'Connell (52yo)
President
- Tenure: 1.9yrs
- Compensation: US$8.26m
Flemming Ornskov (61yo)
Independent Director
- Tenure: 2.4yrs
- Compensation: US$294.47k
Company Information
Waters Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Waters Corporation
- Ticker: WAT
- Exchange: NYSE
- Founded: 1958
- Industry: Life Sciences Tools and Services
- Sector: Pharmaceuticals & Biotech
- Market Cap: US$14.029b
- Shares outstanding: 64.43m
- Website: https://www.waters.com
Number of Employees
Location
- Waters Corporation
- 34 Maple Street
- Milford
- Massachusetts
- 1757
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| WAT | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Nov 1995 |
| WAZ | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Nov 1995 |
| 0LTI | LSE (London Stock Exchange) | Yes | Common Shares | GB | USD | Nov 1995 |
| WAT * | BMV (Bolsa Mexicana de Valores) | Yes | Common Shares | MX | MXN | Nov 1995 |
| WATC34 | BOVESPA (Bolsa de Valores de Sao Paulo) | BDR EACH 1 REP 0.25 COM USD0.01 | BR | BRL | May 2019 |
Biography
Waters Corporation, a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments, Waters and TA. The company designs, manufact ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/11/22 23:48 |
| End of Day Share Price | 2019/11/22 00:00 |
| Earnings | 2019/09/28 |
| Annual Earnings | 2018/12/31 |
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.