What is the 13F Pro Quality Score for WAT?

13F Pro ranks WATERS CORP /DE/ (WAT) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View WAT's current score at https://13fpro.ai/research/WAT (free sign-up required for the full ranking).

Where does 13F Pro source WAT data?

All WATERS CORP /DE/ fundamentals and ownership data come directly from SEC EDGAR. WATERS CORP /DE/ files with the SEC under CIK 1000697. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is WAT in?

WATERS CORP /DE/ (WAT) is classified in the Technology sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/technology.

What drives WAT's revenue?

Per WATERS CORP /DE/'s latest 10-Q filed with the SEC on 2026-05-12, the biggest revenue drivers are: Analytical & Materials Sciences ($686M, +13% YoY); Biosciences ($232M); Consumables ($543M, +293% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/WAT.

How often is WAT research updated on 13F Pro?

WAT's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

WATERS CORP /DE/(WAT)Stock Analysis

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13F Pro Quality Score

69.9/100

Rank #340 of 2,879 stocksTOP 25%

View Technology peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

40.7/100

Profitability

83.4/100

Balance Sheet

89.0/100

Earnings Quality

38.2/100

Free Cash Flow

81.1/100

Institutional Flow

99.6/100

Revenue Scale

69.6/100

Dilution Risk

44.0/100

WAT Stock Analysis & AI Quality Score

AI stock analysis and institutional research for WATERS CORP /DE/ (WAT), a Technology sector company. 13F Pro's AI-powered ranking engine scores WAT at 69.9/100 on a 32-signal composite quality model, placing it at rank #340 of 2,879 stocks — the top 25% of the AI-ranked universe. WAT scores in the top quartile across institutional flow (99.6), balance sheet strength (89.0), profitability (83.4). Areas of concern include earnings quality (38.2), which score below median versus the broader universe. Shareholder dilution risk is elevated at 44.0/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), WATERS CORP /DE/ reports quarterly revenue of $1.3B, net income of $-72.0M, free cash flow of $-42.0M. Top institutional holders of WAT by reported 13-F value include BlackRock,, MASSACHUSETTS FINANCIAL SERVICES CO /MA/, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. WAT trades on the NYSE exchange and files with the SEC under CIK 1000697. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate WAT daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for WATERS CORP /DE/ directly from SEC EDGAR. WATERS CORP /DE/'s 13F Pro composite quality score has ranged between 8 and 74 since 2021, currently 69.9 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.

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Fun facts about WATERS CORP /DE/

Quirks, history, and lore behind WAT — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. analytical instruments company · mid-cap · listed on NYSE · headquartered in Massachusetts.
2
The Numbers
Annual revenue in the range of $3 billion, with enviably fat operating margins — selling precision tools to people who really, really need precise tools.
3
The History
Founded in the 1950s, it grew by focusing almost exclusively on liquid chromatography and mass spectrometry — instruments that separate and identify molecules.
4
The Secret
Its real moat is the consumables and software that keep customers coming back — once a lab is built around its systems, switching is basically unthinkable.
5
The Lore
Its instruments are the quiet workhorses behind pharmaceutical drug testing, food safety screening, and environmental monitoring worldwide — unglamorous, indispensable.
6
The Giveaway
If a lab anywhere on Earth is running an HPLC system or checking whether your medication is pure, there's a strong chance the machine says Waters on the side.

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What's Driving WAT's Business? Latest 10-Q Breakdown

AI-extracted from WATERS CORP /DE/'s 10-Q filed 2026-05-12 — Q1 2026 (quarter ended April 4, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Waters' Q1 2026 revenue surged 91% to $1,267M following the February 9 closing of the $13B BD Biosciences & Diagnostics acquisition, though the company posted a $72M net loss due to $99M inventory step-up charges, $152M intangible amortization, and $83M in integration costs.

Biggest Revenue Drivers

Total revenue: $1,267M+91% YoY

Analytical & Materials Sciences$686M+13% YoY

Broad-based growth across LC/MS instrument systems, chemistry consumables, and service revenue driven by higher customer demand.

Biosciences$232M

Contribution from BDS Business Acquisition from February 9 closing through quarter end; comparable prior-year period had $0M.

Consumables$543M+293% YoY

BDS Business consumables revenue of $424M since closing plus 17% growth in legacy chemistry consumables.

Largest Expense Items

Cost of product and service revenue$679M+145% YoY

Includes $361M from BDS Business and $99M acquisition-related inventory and fixed asset fair value step-up.

Purchased intangibles amortization$152M+$140M vs. prior year

Reflects intangible assets acquired in BDS Business Acquisition with weighted-average life of 13 years.

Selling and administrative expenses$387M+121% YoY

$99M from BDS Business plus $82M of transaction, integration and internal costs related to BDS Business Acquisition.

Research and development expenses$96M+104% YoY

$42M from BDS Business plus increases in merit compensation and new product development costs.

Margins: Operating margin declined sharply to -3.7% from +22.9% YoY, primarily due to $99M inventory step-up charges, $140M increase in intangible amortization, and $83M integration costs from the BDS Business Acquisition, offsetting strong organic growth in the legacy business.

Watch Items from the Filing

BD receivable concentration: $140M net receivable due from BD related to customer billings and collections represents >10% of accounts receivable as of Q1 2026 due to Interim Operating Agreement for Deferred Close Businesses.
Significant integration costs and debt burden: $3.5B in new senior notes issued at 4.3%-5.2%, $500M SpinCo Term Loan due Feb 2028, plus $83M of acquisition costs in Q1 2026 and estimated $90M annual TSA costs for up to 3 years.
Tariff exposure uncertain: U.S. Supreme Court invalidated tariffs under IEEPA on Feb 20, 2026; company may be eligible for refunds but timing and recoverability remain uncertain; company actively evaluating mitigation strategies.
Deferred close businesses: Legal transfer of certain BDS Business assets in China and Italy prevented at closing; remain under BD operational control via Interim Operating Agreement until deferred closings occur.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$1.3B

Net Income

Q1 2026

$-72.0M

Free Cash Flow

Q1 2026

$-42.0M

D/E Ratio

Q1 2026

0.32

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+6.7% YoY

$2.97BFY 2022

FY19 $2.41BFY20 $2.37BFY21 $2.79BFY22 $2.97B

Net Income

+2.2% YoY

$707.8MFY 2022

FY19 —FY20 —FY21 $692.8MFY22 $707.8M

Operating Income

+6.3% YoY

$873.4MFY 2022

FY19 $708.5MFY20 $645.5MFY21 $821.7MFY22 $873.4M

EPS (Diluted)

+5.0% YoY

$11.73FY 2022

FY19 $8.69FY20 $8.36FY21 $11.17FY22 $11.73

Total Assets

+6.0% YoY

$3.28BFY 2022

FY19 $2.56BFY20 $2.84BFY21 $3.09BFY22 $3.28B

Total Debt

+3.9% YoY

$1.58BFY 2022

FY19 $1.79BFY20 $1.51BFY21 $1.52BFY22 $1.58B

Op. Cash Flow

-18.1% YoY

$611.7MFY 2022

FY19 $643.1MFY20 $790.5MFY21 $747.3MFY22 $611.7M

Metric	FY 2022	FY 2021	FY 2020	FY 2019	FY 2017	FY 2015
Revenue	$2.97B +6.7%	$2.79B +17.8%	$2.37B -1.7%	$2.41B +4.2%	$2.31B +13.1%	$2.04B
Net Income	$707.8M +2.2%	$692.8M	—	—	—	—
Operating Income	$873.4M +6.3%	$821.7M +27.3%	$645.5M -8.9%	$708.5M +7.0%	$662.2M +16.7%	$567.5M
EPS (Diluted)	$11.73 +5.0%	$11.17 +33.6%	$8.36 -3.8%	$8.69 +3376.0%	$0.25 -95.6%	$5.65
Total Assets	$3.28B +6.0%	$3.09B +9.0%	$2.84B +11.1%	$2.56B -52.0%	$5.32B +24.7%	$4.27B
Total Debt	$1.58B +3.9%	$1.52B +0.7%	$1.51B -15.4%	$1.79B -15.0%	$2.10B +25.9%	$1.67B
Operating Cash Flow	$611.7M -18.1%	$747.3M -5.5%	$790.5M +22.9%	$643.1M -7.8%	$697.6M	—

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Available Research

13F Pro tracks comprehensive data for WATERS CORP /DE/ including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of WAT

BlackRock, Inc.
$2.5B8,543,014 sh
MASSACHUSETTS FINANCIAL SERVICES CO /MA/
$2.1B4,630,118 sh
VANGUARD CAPITAL MANAGEMENT LLC
$1.9B6,378,775 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$1.4B4,754,185 sh
STATE STREET CORP
$1.3B4,362,010 sh
Fundsmith LLP
$956.6M3,212,075 sh
ALLIANCEBERNSTEIN L.P.
$804.0M2,116,737 sh
GEODE CAPITAL MANAGEMENT, LLC
$785.1M2,646,458 sh
Invesco Ltd.
$645.7M2,168,285 sh
JANUS HENDERSON GROUP PLC
$488.0M1,638,772 sh

Fund	Value	Shares
BlackRock, Inc.	$2.5B	8,543,014
MASSACHUSETTS FINANCIAL SERVICES CO /MA/	$2.1B	4,630,118
VANGUARD CAPITAL MANAGEMENT LLC	$1.9B	6,378,775
VANGUARD PORTFOLIO MANAGEMENT LLC	$1.4B	4,754,185
STATE STREET CORP	$1.3B	4,362,010
Fundsmith LLP	$956.6M	3,212,075
ALLIANCEBERNSTEIN L.P.	$804.0M	2,116,737
GEODE CAPITAL MANAGEMENT, LLC	$785.1M	2,646,458
Invesco Ltd.	$645.7M	2,168,285
JANUS HENDERSON GROUP PLC	$488.0M	1,638,772

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Is WAT a good stock to buy?

13F Pro's AI-powered analysis of WATERS CORP /DE/ (WAT) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Technology sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for WAT are available on the WAT stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own WAT?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling WAT. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of WATERS CORP /DE/'s investment landscape.