| Company Name: | Waters Corporation | | Ticker Symbol: | WAT | | | WWW Address: | www.waters.com | | CEO: | Douglas A. Berthiaume | | No. of Employees: | 5,000 | | Common Issue Type: | CS | | Business Description: | An analytical instrument manufacturer, that designs, manufactures, sells and services, through its Waters Division, liquid chromatography, ultra performance liquid chromatography(r) and mass spectrometry instrument systems and support products.
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| | | Industry Information: | ELECTRONICS - Scientific & Technical Instruments [more like this] |
| | Price | Day Change | Bid | Ask | Open | High | Low | Volume | | 59.42 |  0.39 | 53.86 | 60.29 | 59.28 | 59.60 | 58.68 | 1227410 |
| Market Cap (mil) | Shares Outstanding (mil) | Beta | EPS | DPS | P/E | Yield | 52-Wks-Range |
| 5,674.6 | 95.5 | 1.14 | 3.21 | 0.00 | 18.2 | 0.0 | 61.45 - 30.00 |
| | KEY FIGURES (Latest Twelve Months - LTM) | | Yesterday's Close | 59.42 | $ | | PE Ratio - LTM | 18.2 | |
| Market Capitalisation | 5,625.1 | mil |
| Latest Shares Outstanding | 95.5 | mil |
| Earnings pS (EPS) | 3.21 | $ |
| Dividend pS (DPS) | 0.00 | ¢ |
| Dividend Yield | 0.0 | % |
| Dividend Payout Ratio | 0 | % |
| Revenue per Employee | 315,025 | $ |
| Effective Tax Rate | 13.4 | % |
| Float | 92.4 | mil |
| Float as % of Shares Outstanding | 96.7 | % |
| Foreign Sales | 1,099 | mil |
| Domestic Sales | 476 | mil |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 27.70 | % |
| Research & Devlopment (R&D) as % of Revenue | 5.20 | % |
| Gross Profit Margin | 62.9 | % |
| EBITDA Margin | 30.0 | % |
| Pre-Tax Profit Margin | 25.2 | % |
| Assets Turnover | 0.7 | % |
| Return on Assets (ROA) | 16.9 | % |
| Return on Equity (ROE) | 40.8 | % |
| Return on Capital Invested (ROCI) | 24.9 | % |
| Current Ratio | 2.6 | |
| Leverage Ratio (Assets/Equity) | 2.4 | |
| Interest Cover | 25.0 | |
| Total Debt/Equity (Gearing Ratio) | 0.83 | |
| LT Debt/Total Capital | 39.0 | % |
| Working Capital pS | 7.22 | $ |
| Cash pS | 4.09 | $ |
| Book-Value pS | 8.17 | $ |
| Tangible Book-Value pS | 3.20 | $ |
| Cash Flow pS | 3.91 | $ |
| Free Cash Flow pS | 2.82 | $ |
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| KEY FIGURES (LTM): Price info |
| Price/Book Ratio | 7.27 | |
| Price/Tangible Book Ratio | 18.56 | |
| Price/Cash Flow | 15.2 | |
| Price/Free Cash Flow | 21.1 | |
| P/E as % of Industry Group | 0.0 | % |
| P/E as % of Sector Segment | 14.0 | % |
| | | Balance Sheet (at a glance) in Millions |
| | | | | | DIVIDEND INFO | | Type of Payment | Cash Payment |
| Dividend Rate | 0.00 |
| Current Dividend Yield | 0.0 |
| 5-Y Average Dividend Yield | 0.0 |
| Payout Ratio | 0.0 |
| 5-Y Average Payout Ratio | 0.0 |
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|  | | Share price performance previous 3 years |
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 | | | Share price performance intraday |
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 | | | | | PRICE/VOLUME | High | Low | Close | % Price Chg | % Price Chg vs. Mkt. | Avg. Daily Vol | Total Vol |
| 1 Week | - | - | - | 0.6 | 99 | 10,694 | 22,218 |
| 4 Weeks | 61.45 | 57.08 | 57.43 | 3.5 | 97 | 10,662 | 181,247 |
| 13 Weeks | 61.45 | 49.34 | 50.96 | 16.6 | 108 | 9,969 | 608,098 |
| 26 Weeks | 61.45 | 43.61 | 43.32 | 37.2 | 114 | 9,540 | 1,192,465 |
| 52 Weeks | 61.45 | 30.00 | 41.23 | 44.1 | 117 | 12,410 | 3,090,170 |
| YTD | 61.45 | 30.00 | - | 62.1 | 132 | 12,065 | 2,738,826 |
| Moving Average | 5-Days | 10-Days | 10-Weeks | 30-Weeks | 200-Days | Beta (60-Mnth) | Beta (36-Mnth) |
| 59.37 | 59.84 | 57.71 | 52.04 | 47.74 | 1.14 | 1.03 |
| | | | GROWTH RATES | 5-Year
Growh | R² of 5-Year Growth | 3-Year
Growth |
| Revenue | 7.76 | 89.6 | 6.14 |
| Income | 14.59 | 91.1 | 15.70 |
| Dividend | 0.00 | 0.0 | 0.00 |
| Capital Spending | 0.22 | NA | 6.16 |
| R&D | 4.93 | NA | 1.86 |
| Normalized Inc. | 14.79 | NA | 15.14 |
| | | CHANGES | YTD vs.
Last YTD | Curr Qtr vs.
Qtr 1-Yr ago | Annual vs.
Last Annual |
| Revenue % | -7.5 | -3.2 | 6.9 |
| Earnings % | -1.8 | 6.2 | 20.3 |
| EPS % | 2.3 | 11.3 | 22.5 |
| EPS $ | 0.05 | 0.08 | 0.59 |
| | | | SOLVENCY RATIOS | | SHORT-TERM SOLVENCY RATIOS (LIQUIDITY) |
| Net Working Capital Ratio | 41.09 |
| Current Ratio | 3.3 |
| Quick Ratio (Acid Test) | 2.5 |
| Liquidity Ratio (Cash) | 1.48 |
| Receivables Turnover | 5.2 |
| Average Collection Period | 69 |
| Working Capital/Equity | 100.9 |
| Working Capital pS | 6.81 |
| Cash-Flow pS | 3.96 |
| Free Cash-Flow pS | 3.49 |
| FINANCIAL STRUCTURE RATIOS |
| Altman's Z-Score Ratio | 6.12 |
| Financial Leverage Ratio (Assets/Equity) | 2.5 |
| Debt Ratio | 59.3 |
| Total Debt/Equity (Gearing Ratio) | 0.81 |
| LT Debt/Equity | 0.76 |
| LT Debt/Capital Invested | 57.9 |
| LT Debt/Total Liabilities | 52.0 |
| Interest Cover | 10.7 |
| Interest/Capital Invested | 2.89 |
| | | | VALUATION RATIOS | | MULTIPLES |
| PQ Ratio | 11.87 |
| Tobin's Q Ratio | 3.47 |
| Current P/E Ratio - LTM | 18.20 |
| Enterprise Value (EV)/EBITDA | 13.34 |
| Enterprise Value (EV)/Free Cash Flow | 19.84 |
| Dividend Yield | 0.0 |
| Price/Tangible Book Ratio - LTM | 18.56 |
| Price/Book Ratio - LTM | 7.27 |
| Price/Cash Flow Ratio | 15.2 |
| Price/Free Cash Flow Ratio - LTM | 21.1 |
| Price/Sales Ratio | 3.81 |
| P/E Ratio (1 month ago) - LTM | 17.5 |
| P/E Ratio (26 weeks ago) - LTM | 13.2 |
| P/E Ratio (52 weeks ago) - LTM | 13.0 |
| 5-Y High P/E Ratio | 31.1 |
| 5-Y Low P/E Ratio | 10.0 |
| 5-Y Average P/E Ratio | 22.4 |
| Current P/E Ratio as % of 5-Y Average P/E | 81 |
| P/E as % of Industry Group | 0.0 |
| P/E as % of Sector Segment | 14.0 |
| Current 12 Month Normalized P/E Ratio - LTM | 17.9 |
| PER SHARE FIGURES |
| LT Debt pS | 5.11 |
| Current Liabilities pS | 2.96 |
| Tangible Book Value pS - LTM | 3.20 |
| Book Value pS - LTM | 8.17 |
| Capital Invested pS | 12.15 |
| Cash pS - LTM | 4.09 |
| Cash Flow pS - LTM | 3.91 |
| Free Cash Flow pS - LTM | 2.82 |
| Earnings pS (EPS) | 3.21 |
| | | | OPERATING RATIOS | | PROFITABILITY RATIOS |
| Free Cash Flow Margin | 21.67 |
| Free Cash Flow Margin 5YEAR AVG | 17.50 |
| Net Profit Margin | 20.5 |
| Net Profit Margin - 5YEAR AVRG. | 18.8 |
| Equity Productivity | 2.38 |
| Return on Equity (ROE) | 48.8 |
| Return on Equity (ROE) - 5YEAR AVRG. | 48.2 |
| Capital Invested Productivity | 1.36 |
| Return on Capital Invested (ROCI) | 27.8 |
| Return on Capital Invested (ROCI) - 5YEAR AVRG. | 25.7 |
| Assets Productivity | 0.90 |
| Return on Assets (ROA) | 19.9 |
| Return on Assets (ROA) - 5YEAR AVRG. | 15.5 |
| Gross Profit Margin | 62.9 |
| Gross Profit Margin - 5YEAR AVRG. | 61.4 |
| EBITDA Margin - LTM | 30.0 |
| EBIT Margin - LTM | 26.2 |
| Pre-Tax Profit Margin | 23.6 |
| Pre-Tax Profit Margin - 5YEAR AVRG. | 23.0 |
| Effective Tax Rate | 13.4 |
| Effective Tax Rate - 5YEAR AVRG. | 18.8 |
| EFFICIENCY RATIOS |
| Cash Conversion Cycle | 171 |
| Revenue per Employee | 315,025 |
| Net Income per Employee | 64,496 |
| Average Collection Period | 67 |
| Receivables Turnover | 5.2 |
| Day's Inventory Turnover Ratio | 104 |
| Inventory Turnover | 3.5 |
| Inventory/Sales | 11.0 |
| Accounts Payble/Sales | 5.29 |
| Assets/Revenue | 1.11 |
| Net Working Capital Turnover | 2.36 |
| Fixed Assets Turnover | 2.36 |
| Total Assets Turnover | 0.9 |
| Revenue per $ Cash | 3.68 |
| Revenue per $ Plant | 9.18 |
| Revenue per $ Common Equity | 2.38 |
| Revenue per $ Capital Invested | 1.36 |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 27.1 |
| SG&A Expense as % of Revenue - 5YEAR AVRG. | 27.5 |
| Research & Devlopment (R&D) as % of Revenue | 5.2 |
| R&D Expense as % of Revenue - 5YEAR AVRG. | 5.2 |
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