Waters Ratios and Metrics

Market cap in millions GBP. Fiscal year is January - December.

Millions GBP. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb '26 Feb 12, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	14,364	16,802	17,595	15,283	16,891	16,796
Market Cap Growth	-27.24%	-4.51%	15.13%	-9.52%	0.57%	49.37%
Enterprise Value	14,965	17,604	18,873	17,054	17,875	17,575
Last Close Price	242.97	283.61	301.80	257.77	281.21	274.50
PE Ratio	30.08	35.19	34.53	30.31	28.76	32.82
PS Ratio	6.11	7.14	7.45	6.58	6.85	8.16
PB Ratio	7.55	8.83	12.05	16.92	40.34	61.87
P/TBV Ratio	29.16	34.11	-	-	-	-
P/FCF Ratio	35.81	41.89	35.55	44.02	46.71	38.81
P/OCF Ratio	29.63	34.65	28.90	32.29	33.27	30.43
EV/Sales Ratio	6.45	7.49	7.99	7.35	7.25	8.54
EV/EBITDA Ratio	18.18	21.10	22.95	20.86	21.24	24.83
EV/EBIT Ratio	22.28	25.85	28.21	24.82	24.37	28.79
EV/FCF Ratio	37.31	43.89	38.13	49.13	49.43	40.61
Debt / Equity Ratio	0.55	0.55	0.93	2.14	3.31	4.37
Debt / EBITDA Ratio	1.25	1.25	1.59	2.28	1.59	1.62
Debt / FCF Ratio	2.61	2.61	2.75	5.56	3.83	2.74
Net Debt / Equity Ratio	0.32	0.32	0.75	1.79	2.35	2.82
Net Debt / EBITDA Ratio	0.73	0.73	1.34	1.98	1.17	1.08
Net Debt / FCF Ratio	1.52	1.52	2.22	4.67	2.72	1.77
Asset Turnover	0.66	0.66	0.64	0.75	0.93	0.94
Inventory Turnover	2.46	2.46	2.42	2.46	3.08	3.50
Quick Ratio	-	-	1.34	1.39	1.53	1.74
Current Ratio	-	-	2.11	2.22	2.25	2.39
Return on Equity (ROE)	29.28%	29.28%	42.82%	77.62%	162.32%	231.06%
Return on Assets (ROA)	11.89%	11.89%	11.40%	13.84%	17.32%	17.41%
Return on Invested Capital (ROIC)	22.98%	23.69%	22.05%	31.14%	48.22%	52.80%
Return on Capital Employed (ROCE)	18.00%	18.00%	22.30%	22.80%	35.40%	34.20%
Earnings Yield	3.32%	2.84%	2.90%	3.30%	3.48%	3.05%
FCF Yield	2.79%	2.39%	2.81%	2.27%	2.14%	2.58%
Buyback Yield / Dilution	-0.26%	-0.26%	-0.48%	1.76%	2.74%	0.62%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.