Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of Waters.
Income Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.96B | $2.96B | $2.97B | $2.79B | $2.37B | $2.41B | $2.42B | $2.31B | $2.17B | $2.04B |
| Cost of Revenue | $747.92M | $1.20B | $1.25B | $1.16B | $1.01B | $1.01B | $992.56M | $947.07M | $891.45M | $842.67M |
| Gross Profit | $2.21B | $1.76B | $1.72B | $1.63B | $1.36B | $1.40B | $1.43B | $1.36B | $1.28B | $1.20B |
| Gross Profit Ratio | 74.72% | 59.60% | 58.00% | 58.50% | 57.44% | 58.00% | 58.98% | 58.99% | 58.87% | 58.74% |
| Research and Development Expenses | $183.03M | $174.94M | $176.19M | $168.36M | $140.78M | $142.96M | $143.40M | $132.59M | $125.19M | $118.55M |
| General and Administrative Expenses | $- | $690.34M | $651.03M | $619.97M | $547.70M | $528.79M | $529.90M | $538.70M | $502.03M | $484.75M |
| Selling and Marketing Expenses | $- | $7.00M | $7.00M | $7.00M | $6.00M | $6.00M | $7.00M | $6.00M | $11.00M | $11.00M |
| Selling General and Administrative Expenses | $690.15M | $736.01M | $658.03M | $626.97M | $553.70M | $534.79M | $536.90M | $544.70M | $513.03M | $495.75M |
| Other Expenses | $510.94M | $32.56M | $6.37M | $7.14M | $10.59M | $9.69M | $-47.79M | $6.74M | $9.89M | $10.12M |
| Operating Expenses | $1.38B | $943.52M | $840.58M | $802.47M | $705.06M | $687.44M | $688.02M | $684.04M | $648.11M | $624.41M |
| Cost and Expenses | $2.13B | $2.14B | $2.09B | $1.96B | $1.71B | $1.70B | $1.68B | $1.63B | $1.54B | $1.47B |
| Interest Income | $17.42M | $16.62M | $11.02M | $12.22M | $16.27M | $22.06M | $38.81M | $36.08M | $20.69M | $10.71M |
| Interest Expense | $89.68M | $98.86M | $37.78M | $32.72M | $32.80M | $26.63M | $9.83M | $20.76M | $24.23M | $25.53M |
| Depreciation and Amortization | $191.82M | $165.91M | $130.42M | $131.68M | $125.36M | $105.30M | $108.41M | $106.00M | $96.45M | $10.12M |
| EBITDA | $1.04B | $1.00B | $1.01B | $958.42M | $777.97M | $822.09M | $799.64M | $783.97M | $725.01M | $668.23M |
| EBITDA Ratio | 35.03% | 33.86% | 34.18% | 35.03% | 33.28% | 33.66% | 33.06% | 33.95% | 29.42% | 28.66% |
| Operating Income | $826.35M | $817.68M | $873.39M | $821.71M | $645.49M | $708.46M | $739.77M | $661.86M | $624.34M | $567.45M |
| Operating Income Ratio | 27.93% | 27.66% | 29.39% | 29.50% | 27.29% | 29.44% | 30.57% | 28.66% | 28.81% | 27.78% |
| Total Other Income Expenses Net | $-71.48M | $-81.43M | $-35.55M | $-15.51M | $-34.58M | $-30.22M | $-57.63M | $-21.10M | $-24.93M | $-25.53M |
| Income Before Tax | $754.87M | $736.24M | $837.85M | $806.19M | $610.91M | $678.24M | $682.15M | $641.10M | $600.11M | $541.92M |
| Income Before Tax Ratio | 25.52% | 24.90% | 28.19% | 28.94% | 25.83% | 28.18% | 28.19% | 27.76% | 27.69% | 26.53% |
| Income Tax Expense | $117.03M | $94.01M | $130.09M | $113.35M | $89.34M | $86.04M | $88.35M | $620.79M | $78.61M | $72.87M |
| Net Income | $637.83M | $642.23M | $707.75M | $692.84M | $521.57M | $592.20M | $593.79M | $20.31M | $521.50M | $469.05M |
| Net Income Ratio | 21.56% | 21.72% | 23.81% | 24.87% | 22.05% | 24.61% | 24.54% | 0.88% | 24.06% | 22.97% |
| EPS | $10.75 | $10.87 | $11.80 | $11.25 | $8.40 | $8.76 | $7.71 | $0.25 | $6.46 | $5.70 |
| EPS Diluted | $10.71 | $10.84 | $11.73 | $11.17 | $8.36 | $8.69 | $7.65 | $0.25 | $6.41 | $5.65 |
| Weighted Average Shares Outstanding | 59.33M | 59.08M | 59.98M | 61.58M | 62.09M | 67.63M | 76.99M | 79.79M | 80.79M | 82.34M |
| Weighted Average Shares Outstanding Diluted | 59.55M | 59.27M | 60.33M | 62.03M | 62.41M | 68.17M | 77.62M | 80.60M | 81.42M | 83.09M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $324.42M | $395.08M | $480.53M | $501.23M | $436.69M | $335.71M | $796.28M | $642.32M | $505.63M | $487.67M |
| Short Term Investments | $934.00K | $898.00K | $862.00K | $68.05M | $6.45M | $1.43M | $938.94M | $2.75B | $2.31B | $1.91B |
| Cash and Short Term Investments | $325.36M | $395.97M | $481.39M | $569.28M | $443.15M | $337.14M | $1.74B | $3.39B | $2.81B | $2.40B |
| Net Receivables | $733.37M | $702.17M | $722.89M | $612.65M | $573.32M | $587.73M | $568.32M | $533.83M | $489.34M | $468.31M |
| Inventory | $477.26M | $516.24M | $455.71M | $356.10M | $304.28M | $320.55M | $291.57M | $270.29M | $262.68M | $263.42M |
| Other Current Assets | $133.13M | $138.49M | $103.91M | $90.91M | $80.29M | $67.06M | $68.05M | $72.31M | $70.39M | $82.54M |
| Total Current Assets | $1.67B | $1.75B | $1.66B | $1.54B | $1.32B | $1.25B | $2.60B | $4.20B | $3.57B | $3.13B |
| Property Plant Equipment Net | $725.39M | $723.66M | $582.22M | $547.91M | $494.00M | $417.34M | $343.08M | $349.28M | $337.12M | $333.36M |
| Goodwill | $1.30B | $1.31B | $430.33M | $437.87M | $444.36M | $356.13M | $355.61M | $359.82M | $352.08M | $356.86M |
| Intangible Assets | $567.91M | $629.19M | $227.40M | $242.40M | $258.64M | $240.20M | $246.90M | $228.40M | $207.06M | $218.02M |
| Goodwill and Intangible Assets | $1.86B | $1.93B | $657.73M | $680.27M | $703.01M | $596.33M | $602.52M | $588.21M | $559.13M | $574.89M |
| Long Term Investments | $- | $4.83M | $19.16M | $- | $- | $4.49M | $1.09M | $- | $- | $2.00M |
| Tax Assets | $- | $- | $-19.16M | $- | $- | $-4.49M | $-1.09M | $- | $- | $-2.00M |
| Other Non-Current Assets | $295.67M | $210.85M | $381.52M | $328.73M | $322.17M | $297.95M | $186.72M | $204.17M | $200.75M | $221.92M |
| Total Non-Current Assets | $2.88B | $2.87B | $1.62B | $1.56B | $1.52B | $1.31B | $1.13B | $1.14B | $1.10B | $1.13B |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Assets | $4.55B | $4.63B | $3.28B | $3.09B | $2.84B | $2.56B | $3.73B | $5.34B | $4.66B | $4.26B |
| Account Payables | $99.93M | $84.70M | $93.30M | $96.80M | $72.21M | $49.00M | $68.17M | $64.54M | $67.74M | $70.57M |
| Short Term Debt | $25.54M | $105.65M | $102.86M | $55.81M | $205.53M | $127.49M | $178.00K | $100.27M | $125.30M | $175.31M |
| Tax Payables | $158.66M | $120.26M | $132.54M | $61.28M | $76.56M | $45.97M | $22.94M | $73.01M | $15.24M | $14.89M |
| Deferred Revenue | $250.81M | $256.68M | $227.91M | $227.56M | $198.24M | $176.36M | $164.97M | $166.84M | $148.84M | $141.50M |
| Other Current Liabilities | $254.82M | $222.29M | $229.12M | $239.06M | $252.44M | $192.51M | $192.68M | $201.50M | $163.20M | $161.79M |
| Total Current Liabilities | $789.76M | $789.58M | $785.74M | $680.51M | $804.98M | $1.68B | $1.15B | $2.00B | $1.83B | $1.67B |
| Long Term Debt | $1.68B | $2.36B | $1.59B | $1.57B | $1.27B | $1.65B | $1.15B | $1.90B | $1.70B | $1.49B |
| Deferred Revenue Non-Current | $- | $- | $57.00M | $46.00M | $42.00M | $38.00M | $39.00M | $26.00M | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $-57.00M | $-46.00M | $-42.00M | $-38.00M | $-39.00M | $-26.00M | $- | $- |
| Other Non-Current Liabilities | $258.73M | $322.49M | $404.24M | $473.38M | $528.08M | $534.32M | $563.07M | $586.91M | $137.82M | $152.72M |
| Total Non-Current Liabilities | $1.94B | $2.69B | $2.78B | $2.73B | $2.61B | $1.09B | $1.01B | $1.11B | $532.85M | $533.97M |
| Other Liabilities | $- | $- | $-785.74M | $-680.51M | $-804.98M | $- | $- | $- | $- | $- |
| Total Liabilities | $2.73B | $3.48B | $2.78B | $2.73B | $2.61B | $2.77B | $2.16B | $3.11B | $2.36B | $2.20B |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock | $1.63M | $1.63M | $1.62M | $1.62M | $1.62M | $1.61M | $1.60M | $1.60M | $1.59M | $1.58M |
| Retained Earnings | $9.79B | $9.15B | $8.51B | $7.80B | $7.11B | $6.59B | $6.00B | $5.41B | $5.39B | $4.86B |
| Accumulated Other Comprehensive Income Loss | $-155.28M | $-134.12M | $-141.57M | $-111.86M | $-117.94M | $-119.47M | $-117.97M | $-110.07M | $-216.28M | $-146.73M |
| Other Total Stockholders Equity | $-7.81B | $-7.87B | $-7.86B | $-7.32B | $-6.76B | $-6.69B | $-4.31B | $-3.06B | $-2.87B | $-2.66B |
| Total Stockholders Equity | $1.83B | $1.15B | $504.49M | $367.55M | $232.14M | $-216.28M | $1.57B | $2.23B | $2.30B | $2.06B |
| Total Equity | $1.83B | $1.15B | $504.49M | $367.55M | $232.14M | $-216.28M | $1.57B | $2.23B | $2.30B | $2.06B |
| Total Liabilities and Stockholders Equity | $4.55B | $4.63B | $3.28B | $3.09B | $2.84B | $2.56B | $3.73B | $5.34B | $4.66B | $4.26B |
| Minority Interest | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $4.55B | $4.63B | $3.28B | $3.09B | $2.84B | $2.56B | $3.73B | $5.34B | $4.66B | $4.26B |
| Total Investments | $934.00K | $898.00K | $862.00K | $68.05M | $6.45M | $1.43M | $938.94M | $2.75B | $2.31B | $1.91B |
| Total Debt | $1.70B | $2.44B | $1.65B | $1.51B | $1.36B | $1.68B | $2.30B | $3.90B | $3.53B | $3.16B |
| Net Debt | $1.38B | $2.05B | $1.17B | $1.01B | $919.82M | $1.35B | $1.50B | $3.25B | $3.02B | $2.67B |
Cash Flow Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $637.83M | $642.23M | $707.75M | $692.84M | $521.57M | $592.20M | $593.79M | $20.31M | $521.50M | $469.05M |
| Depreciation and Amortization | $191.82M | $165.91M | $130.42M | $131.68M | $135.35M | $105.30M | $108.41M | $106.00M | $96.45M | $89.99M |
| Deferred Income Tax | $-877.00K | $-1.20M | $-31.99M | $16.63M | $-2.69M | $9.62M | $2.40M | $45.51M | $1.20M | $6.58M |
| Stock Based Compensation | $44.71M | $36.87M | $42.56M | $29.92M | $36.87M | $38.58M | $37.54M | $39.44M | $41.00M | $33.37M |
| Change in Working Capital | $-111.37M | $-240.26M | $-269.08M | $-107.17M | $96.72M | $-92.98M | $-135.30M | $531.89M | $-31.95M | $-43.25M |
| Accounts Receivables | $- | $49.18M | $-137.87M | $-62.45M | $37.47M | $-22.20M | $-47.92M | $-24.01M | $-31.72M | $-49.89M |
| Inventory | $20.94M | $-45.44M | $-101.90M | $-67.25M | $18.94M | $-31.85M | $-25.40M | $731.00K | $-20.15M | $-19.97M |
| Accounts Payables | $- | $-79.52M | $60.98M | $46.11M | $140.60M | $9.78M | $-81.66M | $3.17M | $6.84M | $27.45M |
| Other Working Capital | $-132.31M | $-164.47M | $-90.29M | $-23.58M | $-100.28M | $-48.72M | $19.68M | $552.00M | $13.08M | $-844.00K |
| Other Non Cash Items | $- | $-742.00K | $31.99M | $-16.63M | $2.69M | $-9.62M | $-2.40M | $-45.51M | $870.00K | $4.55M |
| Net Cash Provided by Operating Activities | $762.12M | $602.81M | $611.66M | $747.27M | $790.51M | $643.09M | $604.45M | $697.64M | $629.08M | $560.29M |
| Investments in Property Plant and Equipment | $-142.48M | $-160.63M | $-183.46M | $-168.27M | $-172.38M | $-163.82M | $-127.56M | $-90.47M | $-94.97M | $-103.01M |
| Acquisitions Net | $-1.49M | $-1.28B | $-1.37M | $7.00M | $-86.69M | $8.84M | $-31.49M | $-2.52B | $-5.61M | $-23.49M |
| Purchases of Investments | $-3.73M | $-1.79M | $-11.41M | $-63.36M | $-32.03M | $-8.84M | $-7.62M | $-445.28M | $-2.40B | $-2.01B |
| Sales Maturities of Investments | $- | $2.51M | $86.90M | $218.08M | $20.86M | $941.47M | $1.82B | $2.52B | $2.00B | $1.73B |
| Other Investing Activities | $3.68M | $- | $1.37M | $-225.08M | $6.14M | $-8.84M | $31.49M | $-7.00M | $4.00M | $5.15M |
| Net Cash Used for Investing Activities | $-144.02M | $-1.44B | $-107.97M | $-231.63M | $-264.09M | $768.80M | $1.68B | $-535.75M | $-487.92M | $-399.74M |
| Debt Repayment | $-730.00M | $780.00M | $60.00M | $160.00M | $-325.37M | $535.19M | $-850.16M | $169.98M | $159.97M | $205.08M |
| Common Stock Issued | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock Repurchased | $-13.54M | $-70.28M | $-626.06M | $-648.93M | $-196.41M | $-2.47B | $-1.32B | $-332.54M | $-325.76M | $-334.70M |
| Dividends Paid | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Financing Activities | $46.87M | $45.23M | $56.43M | $50.66M | $81.27M | $61.39M | $45.74M | $98.70M | $63.93M | $60.03M |
| Net Cash Used Provided by Financing Activities | $-696.67M | $754.95M | $-509.63M | $-438.27M | $-440.50M | $-1.87B | $-2.12B | $-63.87M | $-101.86M | $-69.59M |
| Effect of Forex Changes on Cash | $7.92M | $-948.00K | $-14.77M | $-12.83M | $15.07M | $224.00K | $-14.27M | $38.67M | $-21.34M | $-25.47M |
| Net Change in Cash | $-70.66M | $-85.45M | $-20.70M | $64.54M | $100.98M | $-460.56M | $153.96M | $136.69M | $17.97M | $65.49M |
| Cash at End of Period | $324.42M | $395.08M | $480.53M | $501.23M | $436.69M | $335.71M | $796.28M | $642.32M | $505.63M | $487.67M |
| Cash at Beginning of Period | $395.08M | $480.53M | $501.23M | $436.69M | $335.71M | $796.28M | $642.32M | $505.63M | $487.67M | $422.18M |
| Operating Cash Flow | $762.12M | $602.81M | $611.66M | $747.27M | $790.51M | $643.09M | $604.45M | $697.64M | $629.08M | $560.29M |
| Capital Expenditure | $-142.48M | $-160.63M | $-183.46M | $-168.27M | $-172.38M | $-163.82M | $-127.56M | $-90.47M | $-94.97M | $-103.01M |
| Free Cash Flow | $619.64M | $442.18M | $428.20M | $579.01M | $618.12M | $479.26M | $476.88M | $607.17M | $534.11M | $457.28M |