Analysis for WAT

$444.15 +7.54 (+1.73%)

📈 Growth — 26/30
💰 Profitability — 15/20
🏦 Financial Health — 18/20
💵 Valuation — 12/20
⚠️ Risk — 7/10

Overall Score: 74/100

Summary:

📈 Growth & Financial Trajectory

From $661.7M in 2024 Q2 to $1,645.0M in 2026 Q2, revenues rose ~149% despite a mid-2025 dip. Net income moved from about $121.4M to a peak of $231.4M in 2024 Q3, then faded and turned negative in 2026 Q1 (–$72.0M) and Q2 (–$136.0M), signaling earnings volatility even as the top line expands.

💰 Margins & Cash Flow

Gross margin has trended in the high-50s to ~60% (e.g., 58.1% in 2024 Q2, 60.1% in 2024 Q4, 61.0% in 2025 Q3).
Operating margin stayed positive through 2025 but slipped to negative in 2026, with operating income in 2026 quarters negative.
Net cash flow from operating activities remained solid (e.g., $164.6M in 2024 Q4, $192.1M in 2025 Q3), with 2026 continuing positive cash flow ($79.0M). Investing was typically cash-using; financing mixed.

🛡️ Balance Sheet & Liquidity

Total assets ~$24.75B and equity ~$15.20B in 2026 Q2. Current assets ~$4.47B, current liabilities ~$2.40B, current ratio ~1.9x. Debt burden moderate (noncurrent liabilities ~$7.16B). Cash balances historically around $325M.

⚠️ Key Drivers & Risks

Drivers: Pharma/biotech R&D demand and laboratory instrumentation spend; analytics platform expansion.
Risks: Earnings volatility, margin compression, cyclicality of capex, and sensitivity to profitability trends.