Waters Corporation FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $932.4M |
| Gross margin | 61.1% |
| Operating income | $270.5M |
| Net income | $642.6M |
| Diluted EPS | $3.77 |
| Cash & equivalents | $587.8M |
| Total assets | $5.1B |
| Long-term debt | $1.4B |
Key takeaway
Waters generated $932.4 million in net sales for the period with a 61.1% gross margin, driven substantially by pharmaceutical industry customers (about 59% of sales).
🔒 4 more takeaways in the full analysis
Beneath the surface
Cash of $587.8 million against long-term debt of $1.41 billion (and total debt/capital lease obligations of $1.407 billion) leaves Waters in a net debt position of roughly $820 million, a more leveraged picture than the cash figure alone suggests.
🔒 4 more insights a headline reader would miss
This is the free preview. The full analysis explains every line item above and includes 8 more findings — plus insider trades, activist stakes, and 8-K events for WAT.
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