Also trades as: 0LTI.L (LSE) · $vol 0M

$342.37

+1.38 (+0.40%)

Weekly Expected Move ±9.3%

$268 $299 $329 $360 $390

NYSE · Healthcare · Medical - Diagnostics & Research · Alpha Radar Buy · Power 62 · $22.3B mcap · 65M float · 1.68% daily turnover · Short 70% of daily vol

Revenue Segmentation

By Product / Service

By Geography

Revenue by Segment (5-Year Trend)

Income Trends

Revenue

$3.2B +7.0% ▲

5Y CAGR: +6.0%

Gross Profit

$1.8B +4.0% ▲

5Y CAGR: +6.1%

Operating Income

$893M +8.1% ▲

5Y CAGR: +6.7%

Net Income

$643M +0.8% ▲

5Y CAGR: +4.3%

EPS (Diluted)

$10.76 +0.5% ▲

5Y CAGR: +5.2%

EBITDA

$1.0B -2.4% ▼

5Y CAGR: +5.2%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$2.8B	$3.0B	$3.0B	$3.0B	$3.2B
YoY Growth	+17.8%	+6.7%	-0.5%	+0.1%	+7.0%
Cost of Revenue	$1.2B	$1.2B	$1.2B	$1.2B	$1.3B
Gross Profit	$1.6B	$1.7B	$1.8B	$1.8B	$1.8B
Gross Margin	58.5%	58.0%	59.6%	59.4%	57.8%
R&D Expenses	$168M	$176M	$175M	$183M	$195M
SG&A Expenses	$627M	$658M	$736M	$690M	$740M
Operating Expenses	$808M	$850M	$944M	$932M	$935M
Operating Income	$822M	$873M	$818M	$826M	$893M
Operating Margin	29.5%	29.4%	27.7%	27.9%	28.2%
Interest Expense	$45M	$49M	$99M	$90M	$51M
Income Before Tax	$806M	$838M	$736M	$755M	$755M
Tax Expense	$113M	$130M	$94M	$117M	$112M
Net Income	$693M	$708M	$642M	$638M	$643M
Net Margin	24.9%	23.8%	21.7%	21.6%	20.3%
EPS (Diluted)	$11.17	$11.73	$10.84	$10.71	$10.76
EBITDA	$983M	$1.0B	$1.0B	$1.0B	$1.0B
Shares Outstanding	62M	60M	59M	60M	60M

Line Item	FY2024 Q2	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1
Revenue	$709M	$740M	$873M	$662M	$771M	$800M	$932M	$1.3B
Cost of Revenue	$288M	$302M	$349M	$277M	$321M	$328M	$375M	$672M
Gross Profit	$420M	$439M	$524M	$385M	$450M	$472M	$557M	$595M
Gross Margin	59.3%	59.3%	60.1%	58.2%	58.3%	59.0%	59.8%	47.0%
R&D Expenses	$46M	$45M	$47M	$47M	$49M	$54M	$50M	$96M
SG&A Expenses	$173M	$169M	$173M	$175M	$201M	$214M	$197M	$394M
Operating Expenses	$231M	$228M	$232M	$233M	$262M	$280M	$247M	$642M
Operating Income	$189M	$211M	$292M	$152M	$188M	$192M	$311M	-$47M
Operating Margin	26.7%	28.5%	33.5%	22.9%	24.4%	24.0%	33.3%	-3.7%
Interest Expense	$24M	$21M	$19M	$14M	$14M	$27M	$9M	$42M
Income Before Tax	$169M	$194M	$277M	$143M	$178M	$170M	$264M	-$88M
Tax Expense	$27M	$32M	$46M	$22M	$31M	$21M	$39M	-$16M
Net Income	$143M	$162M	$231M	$121M	$147M	$149M	$225M	-$72M
Net Margin	20.1%	21.8%	26.5%	18.3%	19.1%	18.6%	24.2%	-5.7%
EPS (Diluted)	$2.40	$2.71	$3.88	$2.03	$2.47	$2.50	$3.77	$-0.87
EBITDA	$240M	$263M	$345M	$207M	$244M	$249M	$325M	$106M
Shares Outstanding	59M	60M	60M	60M	60M	60M	60M	82M

WAT NYSE