Is it safe?
Can WAT take a bad year?
Waters Corporation carries $4.55B of net debt at 6.65× EBITDA: a heavy load to carry through a bad year.
$4.55B
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 6.65×
Net debt / EBITDA · 1.15× a year ago · the load is going up
- Interest cover
- 2.21×
Interest cover · operating profit covers the interest bill, with room to spare
- Annualised volatility
- 38%
Annualised volatility · roughly twice as jumpy as the market
Details›
- Total debtQ2 2026
- $5.09B
- Cash and short-term investments
- $539M
- Net debt
- $4.55B
- EBITDA, trailing twelve months
- $684M
- Operating profit, trailing twelve months
- $330M
- Debt / equity
- 0.34×
- Total debt / EBITDA
- 7.44×
- Annualised volatilitytwo years of daily moves
- 38%
- Worst drawdown on file
- −44%
- Below its 52-week high
- −0.40%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Diagnostics & Research
Ranks #29 of 29 by Smart Score