Company Valuation: Waters Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 22,742 20,352 19,466 22,027 22,613 40,691 - -
Change - -10.51% -4.35% 13.16% 2.66% 79.95% - -
Enterprise Value (EV) 1 23,687 21,445 21,426 23,329 23,433 44,720 43,248 41,941
Change - -9.46% -0.09% 8.88% 0.45% 90.85% -3.29% -3.02%
P/E 33.4x 29.2x 30.4x 34.6x 35.3x 72.5x 35.8x 35.8x
PBR 61.6x 41x 17x 12.1x 8.86x 2.46x 2.32x 2.11x
PEG - 5.82x -4.01x -28.85x 75.61x -1.5x 0x 191.48x
Capitalization / Revenue 8.16x 6.85x 6.58x 7.45x 7.14x 6.29x 5.7x 5.37x
EV / Revenue 8.5x 7.22x 7.25x 7.89x 7.4x 6.91x 6.06x 5.54x
EV / EBITDA 24.5x 20.9x 19.9x 21.1x 20x 21.1x 18.1x 16.2x
EV / EBIT 28.2x 23.9x 23.5x 25.5x 24.3x 24.6x 20.7x 18.4x
EV / FCF 40.4x 49.2x 48.5x 37.6x 43.4x 61.2x 27.3x 23x
FCF Yield 2.47% 2.03% 2.06% 2.66% 2.3% 1.63% 3.66% 4.35%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 11.17 11.73 10.84 10.71 10.76 5.712 11.56 11.58
Distribution rate - - - - - - - -
Net sales 1 2,786 2,972 2,956 2,958 3,165 6,468 7,134 7,571
EBITDA 1 965.9 1,029 1,079 1,108 1,171 2,124 2,384 2,595
EBIT 1 841.4 898.1 912.9 916.3 964.4 1,818 2,086 2,275
Net income 1 692.8 707.8 642.2 637.8 642.6 579.2 1,183 1,086
Net Debt 1 944.6 1,093 1,960 1,301 819.6 4,029 2,557 1,250
Reference price 2 372.60 342.58 329.23 370.98 379.83 414.17 414.17 414.17
Nbr of stocks (in thousands) 61,036 59,408 59,127 59,376 59,535 98,248 - -
Announcement Date 1/2/22 15/2/23 6/2/24 12/2/25 9/2/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
31.56x5.56x21.3x0.29% 234B
36.33x6.52x20.68x0.66% 151B
40.63x10.56x23.34x-.--% 131B
17.98x3.68x11.93x-.--% 69.81B
35.87x7.2x22.79x-.--% 52.33B
19.45x2.34x11.69x2.62% 50.91B
30.16x6.01x20.62x0.66% 43.8B
72.51x6.91x21.05x-.--% 40.69B
20.46x5.68x14.67x1.13% 34B
Average 33.88x 6.05x 18.67x 0.6% 89.79B
Weighted average by Cap. 33.78x 6.39x 19.87x 0.46%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  3. WAT Stock
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  5. Valuation Waters Corporation