Waters Corporation (WAT)
NYSE: WAT · Real-Time Price · USD
470.90
-4.62 (-0.97%)
Nov 11, 2026, 4:00 PM EST - Market closed
Waters Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Oct '26 Oct 3, 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 |
Net Income | 98.63 | 642.63 | 637.83 | 642.23 | 707.76 | 692.84 |
Depreciation & Amortization | 860.24 | 206.24 | 191.83 | 165.91 | 130.42 | 131.68 |
Asset Writedown & Restructuring Costs | - | - | - | - | 10 | - |
Loss (Gain) From Sale of Investments | - | - | - | - | - | -9.71 |
Stock-Based Compensation | 81.13 | 54.13 | 44.71 | 36.87 | 42.56 | 29.92 |
Other Operating Activities | 315.95 | -17.06 | -0.88 | -1.94 | -31.99 | 16.63 |
Change in Accounts Receivable | -55.5 | -55.5 | -66.24 | 49.18 | -137.87 | -62.45 |
Change in Inventory | -65.93 | -65.93 | 20.94 | -45.44 | -101.9 | -67.25 |
Change in Accounts Payable | -89.01 | -89.01 | 61.59 | -79.52 | 60.98 | 46.11 |
Change in Unearned Revenue | 0.96 | 0.96 | 6.17 | 10.43 | 12.86 | 37.85 |
Change in Other Net Operating Assets | -685.9 | -23.9 | -133.82 | -174.9 | -81.17 | -68.35 |
Operating Cash Flow | 460.56 | 652.56 | 762.12 | 602.81 | 611.66 | 747.27 |
Operating Cash Flow Growth | -36.78% | -14.38% | 26.43% | -1.45% | -18.15% | -5.47% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Oct '26 Oct 3, 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 |
Capital Expenditures | -169.75 | -112.75 | -142.48 | -160.63 | -175.92 | -161.27 |
Sale of Property, Plant & Equipment | 2.84 | 2.84 | - | - | - | - |
Cash Acquisitions | 84.95 | -35.05 | - | -1,282 | - | - |
Sale (Purchase) of Intangibles | - | - | - | - | -7.54 | -7 |
Investment in Securities | -16.3 | -7.3 | -0.61 | 0.72 | 75.49 | -63.36 |
Investing Cash Flow | -39.25 | -152.25 | -143.09 | -1,442 | -107.97 | -231.63 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Oct '26 Oct 3, 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 |
Long-Term Debt Issued | - | 70 | 170 | 1,450 | 205 | 510 |
Long-Term Debt Repaid | - | -290 | -900 | -670.04 | -145 | -350 |
Net Debt Issued (Repaid) | -253 | -220 | -730 | 780 | 60 | 160 |
Issuance of Common Stock | 30.79 | 20.79 | 30.37 | 29.79 | 42.8 | 55.64 |
Repurchase of Common Stock | -14.67 | -14.67 | -13.54 | -70.28 | -626.06 | -648.93 |
Other Financing Activities | -38.33 | -23.33 | 16.5 | 15.44 | 13.63 | -4.99 |
Financing Cash Flow | -275.21 | -237.21 | -696.68 | 754.95 | -509.63 | -438.28 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Oct '26 Oct 3, 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 |
Foreign Exchange Rate Adjustments | -11.62 | -0.62 | 7.92 | -0.95 | -14.77 | -12.83 |
Net Cash Flow | 133.48 | 262.48 | -69.72 | -85.45 | -20.71 | 64.54 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Oct '26 Oct 3, 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 |
Free Cash Flow | 290.81 | 539.81 | 619.64 | 442.18 | 435.74 | 586.01 |
Free Cash Flow Growth | -51.69% | -12.88% | 40.13% | 1.48% | -25.64% | -5.20% |
Free Cash Flow Margin | 5.18% | 17.05% | 20.95% | 14.96% | 14.66% | 21.04% |
Free Cash Flow Per Share | 3.44 | 9.04 | 10.40 | 7.46 | 7.22 | 9.45 |
Levered Free Cash Flow | - | 427.16 | 638.31 | 447.39 | 345.17 | 405.57 |
Unlevered Free Cash Flow | - | 470.63 | 694.36 | 509.17 | 375.67 | 433.66 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Oct '26 Oct 3, 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 |
Cash Interest Paid | 44.65 | 44.65 | 92.1 | 94.1 | 48.08 | 42.41 |
Cash Income Tax Paid | 244.24 | 244.24 | 183.34 | 243.32 | 160.08 | 153.5 |
Change in Working Capital | -895.38 | -233.38 | -111.37 | -240.26 | -247.1 | -114.09 |