Waters Corp.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $3.17B | $2.96B | $2.99B | $2.93B | $2.67B | $2.31B | $2.36B |
| Waters_Instruments | — | — | — | $2.06B | $2.05B | $1.85B | $1.54B | $1.59B |
| Waters_Service | — | — | — | $933.2M | $879.8M | $820.7M | $771.6M | $774.2M |
| Cost of Revenue | — | $1.29B | $1.20B | $1.20B | $1.25B | $1.16B | $1.01B | $1.01B |
| Gross Profit | — | $1.88B | $1.76B | $1.79B | $1.68B | $1.51B | $1.31B | $1.35B |
| Gross Margin | — | 59.3% | 59.4% | 60.0% | 57.4% | 56.7% | 56.5% | 57.2% |
| Operating Expenses | ||||||||
| Research & Development | — | $195.7M | $183.0M | $174.9M | $176.2M | $168.4M | $140.8M | $143.0M |
| SG&A Expense | — | $830.4M | $690.1M | $736.0M | $658.0M | $627.0M | $553.7M | $534.8M |
| Operating Income | — | $802.6M | $826.4M | $817.7M | $873.4M | $821.7M | $645.5M | $708.5M |
| Operating Margin | — | 25.4% | 27.9% | 27.4% | 29.8% | 30.8% | 27.9% | 30.0% |
| Interest Expense | — | $69.5M | $89.7M | $98.9M | $48.8M | $44.9M | $49.1M | $48.7M |
| Pretax Income | — | $754.9M | $754.9M | $736.2M | $837.8M | $806.2M | $610.9M | $678.2M |
| Income Tax Expense | — | $112.2M | $117.0M | $94.0M | $130.1M | $113.4M | $89.3M | $86.0M |
| Net Income | — | $642.6M | $637.8M | $642.2M | $707.8M | $692.8M | $521.6M | $592.2M |
| Net Margin | — | 20.3% | 21.6% | 21.5% | 24.2% | 25.9% | 22.5% | 25.1% |
| EPS (Basic) | — | $10.80 | $10.75 | $10.87 | $11.80 | $11.25 | $8.40 | $8.76 |
| EPS (Diluted) | — | $10.76 | $10.71 | $10.84 | $11.73 | $11.17 | $8.36 | $8.69 |
| Shares Outstanding (Basic) | 98.1M | 59.5M | 59.3M | 59.1M | 60.0M | 61.6M | 62.1M | 67.6M |
| Shares Outstanding (Diluted) | 98.1M | 59.7M | 59.6M | 59.3M | 60.3M | 62.0M | 62.4M | 68.2M |
| Dividends Per Share | — | — | — | — | — | — | — | — |