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Waters price to book ratio WAT

Market value divided by the book value of the company's net assets, since 2009.

Today, Oct 23, 2026
2.9×
10-year median
14.0×
Against its 10-year history
5th
percentile: 0 is its lowest day, 100 its highest
10-year range
2.1× to 134×
Peer median
6.6×

Waters' price to book ratio is 2.9× as of Oct 23, 2026.

That is below its ten-year median of 14.0×, lower than on 95% of days in the last ten years.

Over that time it ranged from 2.1× in May 2026 to 134× in Jan 2020.

The median for 10 diagnostics and research stocks of a similar size is 6.6×.

Price to book ratio over time

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

YearEnd of yearLowHigh
2026 so far2.9×2.1×13.6×
20259.9×7.7×15.4×
202413.9×13.3×21.6×
202321.5×16.7×52.6×
202252.8×41.2×71.7×
202177.0×68.5×104×
2020121×121×134×
2019130×7.3×131×
20187.5×5.9×8.1×
20175.8×5.0×6.3×
20164.8×4.8×6.1×
20155.6×5.0×6.1×
20145.2×4.4×6.0×
20135.2×5.1×6.1×
20125.6×5.2×6.9×
20115.7×5.4×8.4×
20107.7×6.6×8.4×
20097.5×6.6×7.5×

Against its peers

Companies in Medical - Diagnostics & Research nearest Waters' size, closest first, today.

CompanyPrice to book ratio
WATWaters2.9×
IDXXIDEXX Laboratories27.4×
IQVIQVIA7.5×
AAgilent Technologies6.6×
ILMNIllumina14.3×
MTDMettler-Toledo Internationaln/m
DGXQuest Diagnostics3.6×
LHLabcorp3.1×
MEDPMedpace43.1×
RVTYRevvity2.5×
DHRDanaher3.1×
Peer median6.6×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

More on Waters

Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.