The financials
Waters Corporation by the numbers
Waters Corporation (WAT) reported revenue of $1.65B in Q2 2026 (quarter ended July 4, 2026), up 113% from the same quarter a year earlier. That came with net loss of $136M. For the full year FY2025, revenue was $3.17B (+7.0% year on year) and net income $643M. Its largest product in 2026-Q1 was Consumables at $543M, 43% of the disclosed total, just ahead of Instrument Systems at 30%.
| Income statement | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | $1.65B | $771M | +113% |
| Gross profit | n/a | $450M | n/a |
| Operating income | −$86M | $188M | to a loss |
| Net income | −$136M | $147M | to a loss |
| Diluted EPS | −$1.39 | $2.47 | to a loss |
| Product | Revenue | Share |
|---|---|---|
| Consumables | $543M | 43% |
| Instrument Systems | $376M | 30% |
| Service | $348M | 27% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q1 2026Total $1.27B (-12%)
Consumables grew +293% year on yearService +33% year on year
Segment Latestquarter on quarteryear on year
- Consumables$543.0M$543.0MQoQ -year on year +293%-+293%
- Instrument Systems$376.0M$376.0MQoQ +10%year on year +43%+10%+43%
- Service$348.0M$348.0MQoQ +16%year on year +33%+16%+33%
- Chemistry Consumables--QoQ -year on year ---
- Ta Instrument Systems--QoQ -year on year ---
- Ta Service--QoQ -year on year ---
- Waters Instrument Systems--QoQ -year on year ---
- Waters Service--QoQ -year on year ---
Diagnostics & Research
Ranks #29 of 29 by Smart Score