Waters Corp.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $642.6M | $637.8M | $642.2M | $707.8M | $692.8M | $521.6M | $592.2M | $593.8M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $88.1M | $87.0M | $84.6M | $72.0M | $71.6M | $68.7M | $53.8M | $58.0M |
| Amortization | $118.0M | $105.0M | $81.0M | $58.0M | $60.0M | $57.0M | — | — |
| Stock-Based Compensation | $54.1M | $44.7M | $36.9M | $42.6M | $29.9M | $36.9M | $38.6M | $37.5M |
| Net Cash from Operating Activities | $652.6M | $762.1M | $602.8M | $611.7M | $747.3M | $790.5M | $643.1M | $604.4M |
| Investing Activities | ||||||||
| Capital Expenditures | $112.7M | $142.5M | $160.6M | — | — | — | — | — |
| Business Acquisitions | $35.1M | $0 | $1.28B | $0 | $0 | $80.5M | $0 | $31.5M |
| Net Cash from Investing Activities | $-152.3M | $-143.1M | $-1.44B | $-108.0M | $-231.6M | $-264.1M | $768.8M | $1.68B |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $14.7M | $13.5M | $70.3M | $626.1M | $648.9M | $196.4M | $2.47B | $1.32B |
| Net Cash from Financing Activities | $-237.2M | $-696.7M | $755.0M | $-509.6M | $-438.3M | $-440.5M | $-1.87B | $-2.12B |
| Net Change in Cash | $262.5M | $-69.7M | $-85.5M | $-20.7M | $64.5M | $101.0M | $-460.6M | $154.0M |
| Free Cash Flow | $539.8M | $619.6M | $442.2M | — | — | — | — | — |