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/company/WAT (free sign-up required for the full ranking).

Which hedge funds own the most WAT stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of WAT include BlackRock,, MASSACHUSETTS FINANCIAL SERVICES CO /MA/, VANGUARD CAPITAL MANAGEMENT. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/WAT as soon as new 13F filings post.

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 2026-08-11, the biggest revenue drivers are: Analytical & Materials Sciences ($756M, +7% YoY); Advanced Diagnostics ($521M, vs $62M prior year (not meaningful)); Biosciences ($368M, vs $0 prior year (not meaningful)). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/WAT.

What are WAT's largest expenses?

WATERS CORP /DE/'s latest 10-Q reports these as the largest expense items: Cost of revenue ($911M, +184% YoY); Purchased intangibles amortization ($244M, +1,933% YoY); Selling and administrative expenses ($405M, +105% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended July 4, 2026).

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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SEC EDGAR: CIK 1000697 WAT stock profile & AI dashboard →

13F Pro Quality Score

60.4/100

Rank #853 of 2,961 stocksTOP 50%

View Technology peers →

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

Revenue Growth

85.8/100

Profitability

31.7/100

Balance Sheet

44.6/100

Earnings Quality

82.2/100

Free Cash Flow

53.1/100

Institutional Flow

75.5/100

Revenue Scale

76.9/100

Dilution Risk

43.0/100

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Why WAT Scores 60/100

exact factor attribution · 2026-09-11

WAT's composite is driven by revenue growth and scale, held back by profitability and earnings growth. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Revenue growth

+7.2 pts

86th pct

Scale

+4.0 pts

77th pct

Earnings quality

+3.2 pts

82th pct

Institutional flow

+1.3 pts

76th pct

Free cash flow

+0.5 pts

53th pct

Shareholder dilution

-0.3 pts

43th pct

Capital efficiency

-0.5 pts

45th pct

Earnings growth

-2.1 pts

9th pct

Profitability

-2.8 pts

32th pct

Latest change (2026-08-13): 70 → 55 · ↓ Profit margin 83→35; ↓ Capital efficiency 89→41; despite ↑ Revenue growth 41→70

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

Unusual Activity in WAT

Events flagged as statistical outliers against WAT's own multi-year baseline — not fixed dollar thresholds.

Score shock2026-08-13
WAT quality score dropped 15 points (70→54) on a new filing
View source filing →

WAT Stock Analysis & AI Quality Score

Data updated 2026-09-11

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 60.4/100 on a 32-signal composite quality model, placing it at rank #853 of 2,961 stocks — the top half of the AI-ranked universe. WAT scores in the top quartile across revenue growth (85.8), earnings quality (82.2), revenue scale (76.9). Areas of concern include profitability (31.7), which score below median versus the broader universe. Shareholder dilution risk is elevated at 43.0/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), WATERS CORP /DE/ reports quarterly revenue of $1.6B, net income of $-136.0M, free cash flow of $153.0M. Top institutional holders of WAT by reported 13-F value include BlackRock, MASSACHUSETTS FINANCIAL SERVICES, 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 55 and 74 since 2021, currently 60.4 — a declining long-term trajectory across 68 quarterly and live scoring snapshots.

✦

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

✓ 37/37 datapoints verified

AI-extracted from WATERS CORP /DE/'s 10-Q filed 2026-08-11 — Q2 FY2026 (quarter ended July 4, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Revenue more than doubled to $1,645M (+113% YoY) on the $13B BDS Business acquisition, but purchased intangibles amortization, inventory step-up and integration costs pushed the company to an operating loss of $86M versus $188M of operating income a year ago.

Biggest Revenue Drivers

Analytical & Materials Sciences$756M+7% YoY

Broad-based growth led by higher demand for Acquity and Xevo TQ-S instrument systems and double-digit chemistry consumables growth

Advanced Diagnostics$521Mvs $62M prior year (not meaningful)

Includes $72M from the recast Waters Clinical business; remainder is BDS Business revenue since the February 9, 2026 acquisition close

Biggest Revenue Drivers

Total revenue: $1,645M+113% YoY

Analytical & Materials Sciences$756M+7% YoY

Broad-based growth led by higher demand for Acquity and Xevo TQ-S instrument systems and double-digit chemistry consumables growth

Advanced Diagnostics$521Mvs $62M prior year (not meaningful)

Includes $72M from the recast Waters Clinical business; remainder is BDS Business revenue since the February 9, 2026 acquisition close

Biosciences$368Mvs $0 prior year (not meaningful)

New reportable segment created by the BDS Business Acquisition; includes revenue only from the Closing Date through quarter end

Largest Expense Items

Cost of revenue$911M+184% YoY

Includes $560M of cost of revenue from the BDS Business and $154M of fair value inventory and fixed asset step-up expense from purchase accounting

Purchased intangibles amortization$244M+1,933% YoY

Increase due to intangible assets recognized in the BDS Business Acquisition

Selling and administrative expenses$405M+105% YoY

BDS Business added $125M; also includes $37M of transaction, integration and other internal acquisition costs

Restructuring charges$49M

Severance costs from a workforce reduction impacting approximately 3% of employees, expected to yield ~$120M in annual salary savings

Margins: Operating margin swung to -5.2% from +24.4% a year ago as the BDS acquisition drove $244M of purchased intangibles amortization, a $154M inventory/fixed-asset fair value step-up, and transaction/integration costs, offsetting higher sales volume.

Watch Items from the Filing

The $13B BDS Business Acquisition (closed Feb 9, 2026) contributed $817M of the quarter's $1,645M revenue but drove a $136M net loss versus $147M net income a year ago.
Total debt rose to $5.1 billion from $1.4 billion at December 31, 2025, largely to fund the acquisition; interest expense increased to $60M from $15M YoY.
The company has a $673 million receivable due from BD classified in accounts receivable, representing greater than 10% of total accounts receivable, arising from the Transition Services Agreement.
The U.S. Supreme Court invalidated IEEPA tariffs on February 20, 2026 and new tariffs were implemented under alternative authority; the company has not recognized any refund amounts given uncertain recoverability and timing.
Net loss per diluted share was $(1.39) versus $2.47 of income per diluted share a year ago, driven by acquisition-related amortization, inventory step-up, restructuring, and financing costs.

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

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

Revenue

Q2 2026

$1.6B

Net Income

Q2 2026

$-136.0M

Free Cash Flow

Q2 2026

$153.0M

ROIC

Q2 2026

-1.7%

D/E Ratio

Q2 2026

0.32

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+7.0% YoY

$3.17BFY 2025

FY22 $2.97BFY23 $2.96BFY24 $2.96BFY25 $3.17B

Net Income

+0.8% YoY

$642.6MFY 2025

FY22 $707.8MFY23 $642.2MFY24 $637.8MFY25 $642.6M

Operating Income

-2.9% YoY

$802.6MFY 2025

FY22 $873.4MFY23 $817.7MFY24 $826.4MFY25 $802.6M

EPS (Diluted)

+0.5% YoY

$10.76FY 2025

FY22 $11.73FY23 $10.84FY24 $10.71FY25 $10.76

Total Assets

+11.5% YoY

$5.08BFY 2025

FY22 $3.28BFY23 $4.63BFY24 $4.55BFY25 $5.08B

Total Debt

-13.5% YoY

$1.41BFY 2025

FY22 $1.58BFY23 $2.36BFY24 $1.63BFY25 $1.41B

Op. Cash Flow

-14.4% YoY

$652.6MFY 2025

FY22 $611.7MFY23 $602.8MFY24 $762.1MFY25 $652.6M

Free Cash Flow

-12.9% YoY

$539.8MFY 2025

FY22 —FY23 $442.2MFY24 $619.6MFY25 $539.8M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$3.17B +7.0%	$2.96B +0.1%	$2.96B -0.5%	$2.97B +6.7%	$2.79B +17.8%	$2.37B
Net Income	$642.6M +0.8%	$637.8M -0.7%	$642.2M -9.3%	$707.8M +2.2%	$692.8M	—
Operating Income	$802.6M -2.9%	$826.4M +1.1%	$817.7M -6.4%	$873.4M +6.3%	$821.7M +27.3%	$645.5M
EPS (Diluted)	$10.76 +0.5%	$10.71 -1.2%	$10.84 -7.6%	$11.73 +5.0%	$11.17 +33.6%	$8.36
Total Assets	$5.08B +11.5%	$4.55B -1.6%	$4.63B +41.0%	$3.28B +6.0%	$3.09B +9.0%	$2.84B
Total Debt	$1.41B -13.5%	$1.63B -30.9%	$2.36B +49.4%	$1.58B +3.9%	$1.52B +0.7%	$1.51B
Operating Cash Flow	$652.6M -14.4%	$762.1M +26.4%	$602.8M -1.4%	$611.7M -18.1%	$747.3M -5.5%	$790.5M
Free Cash Flow	$539.8M -12.9%	$619.6M +40.1%	$442.2M	—	—	—

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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.
$3.2B8,484,939 sh
MASSACHUSETTS FINANCIAL SERVICES CO /MA/
$2.5B4,625,035 sh
VANGUARD CAPITAL MANAGEMENT LLC
$2.4B6,415,552 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$1.8B4,740,524 sh
STATE STREET CORP
$1.6B4,382,008 sh
T. Rowe Price Investment Management, Inc.
$1.4B3,817,779 sh
Invesco Ltd.
$1.3B3,494,267 sh
GEODE CAPITAL MANAGEMENT, LLC
$984.8M2,636,146 sh
Fundsmith LLP
$852.7M2,273,632 sh
PRICE T ROWE ASSOCIATES INC /MD/
$816.8M2,177,958 sh

Fund	Value	Shares
BlackRock, Inc.	$3.2B	8,484,939
MASSACHUSETTS FINANCIAL SERVICES CO /MA/	$2.5B	4,625,035
VANGUARD CAPITAL MANAGEMENT LLC	$2.4B	6,415,552
VANGUARD PORTFOLIO MANAGEMENT LLC	$1.8B	4,740,524
STATE STREET CORP	$1.6B	4,382,008
T. Rowe Price Investment Management, Inc.	$1.4B	3,817,779
Invesco Ltd.	$1.3B	3,494,267
GEODE CAPITAL MANAGEMENT, LLC	$984.8M	2,636,146
Fundsmith LLP	$852.7M	2,273,632
PRICE T ROWE ASSOCIATES INC /MD/	$816.8M	2,177,958

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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. WAT is classified as a large company.

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.