SuperworthWaters profit margin WAT
Gross, operating and net profit as a share of revenue over the last twelve months, from 2009.
- Net margin, 12 months
- 3.6%
- Operating margin, 12 months
- 7.1%
- Net margin on a year earlier
- −18.1 pts
- Peer median
- 16.8%
Over the twelve months to Jul 4, 2026, Waters kept 3.6% of its revenue as net profit, with an operating margin of 7.1% and a gross margin of 50.9%.
Five years earlier its net margin was 24.7%.
The median for 10 diagnostics and research stocks of a similar size is 16.8%.
Profit margin over time
Fiscal year by fiscal year
| Fiscal year | Net margin | Operating margin | Gross margin |
|---|---|---|---|
| FY2025 | 20.3% | 25.4% | 59.3% |
| FY2024 | 21.6% | 27.9% | 59.4% |
| FY2023 | 21.7% | 27.7% | 59.6% |
| FY2022 | 23.8% | 29.4% | 58.0% |
| FY2021 | 24.9% | 29.5% | 58.5% |
| FY2020 | 22.1% | 27.3% | 57.4% |
| FY2019 | 24.6% | 29.4% | 58.0% |
| FY2018 | 24.5% | 30.6% | 59.0% |
| FY2017 | 0.9% | 28.7% | 59.0% |
| FY2016 | 24.1% | 28.8% | 58.9% |
| FY2015 | 23.0% | 27.8% | 58.7% |
| FY2014 | 21.7% | 26.0% | 58.5% |
| FY2013 | 23.6% | 27.2% | 58.9% |
| FY2012 | 25.0% | 27.7% | 60.0% |
| FY2011 | 23.4% | 28.6% | 60.5% |
Quarter by quarter
| Quarter | Ended | Net margin, 12 months | Change on a year | Operating margin |
|---|---|---|---|---|
| Q2 FY26 | 3.6% | −18.1 pts | 7.1% | |
| Q1 FY26 | 11.9% | −10.1 pts | 16.0% | |
| Q4 FY25 | 20.3% | −1.3 pts | 25.4% | |
| Q3 FY25 | 20.9% | −0.5 pts | 26.5% | |
| Q2 FY25 | 21.7% | +1.0 pts | 27.7% | |
| Q1 FY25 | 22.0% | +1.3 pts | 28.3% | |
| Q4 FY24 | 21.6% | −0.2 pts | 27.9% | |
| Q3 FY24 | 21.4% | −0.4 pts | 27.5% | |
| Q2 FY24 | 20.7% | −1.8 pts | 26.7% | |
| Q1 FY24 | 20.7% | −2.5 pts | 26.7% | |
| Q4 FY23 | 21.7% | −2.1 pts | 27.7% | |
| Q3 FY23 | 21.8% | −1.8 pts | 28.0% |
Against its peers
Companies in Medical - Diagnostics & Research nearest Waters' size, closest first, today.
| Company | Profit margin |
|---|---|
| WATWaters | 3.6% |
| IDXXIDEXX Laboratories | 25.0% |
| IQVIQVIA | 8.1% |
| AAgilent Technologies | 19.5% |
| ILMNIllumina | 18.4% |
| MTDMettler-Toledo International | 21.9% |
| DGXQuest Diagnostics | 9.2% |
| LHLabcorp | 7.0% |
| MEDPMedpace | 17.7% |
| RVTYRevvity | 8.2% |
| DHRDanaher | 15.9% |
| Peer median | 16.8% |
Where Waters ranks
What the profit margin tells you
Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).
Compare within an industry. 10% is superb for a retailer and poor for a software company.
More on Waters
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.