WAT Waters PE ratio, current and historical analysis
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- NYSE: WAT
- PE Ratio
The PE ratio for Waters stock stands at 31.45 as of Jun 16, 2025. This is calculated based on the TTM EPS of $11.06 and the stock price of $347.81 per share. A decrease of 3.3% has been observed in the PE ratio compared to its average of 32.5 of the past four quarters.
WAT PE ratio history
Over the last ten years, the average PE ratio of Waters has been 70.7. The current 31.45 price-to-earnings ratio is 56% less than the historical average. Analyzing the last ten years, WAT's PE ratio reached its highest point in the Dec 2017 quarter at 772.76, with a price of $193.19 and an EPS of $0.25. The Dec 2016 quarter saw the lowest point at 20.8, with a price of $134.39 and an EPS of $6.46.
Waters PE ratio history chart
Waters PE ratio by year
Maximum annual increase: 3,615.19% in 2017
Maximum annual decrease: -96.83% in 2018
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2024 | 34.51 | 13.93% | $370.98 | $10.75 |
| 2023 | 30.29 | 4.34% | $329.23 | $10.87 |
| 2022 | 29.03 | -12.35% | $342.58 | $11.8 |
| 2021 | 33.12 | 12.46% | $372.6 | $11.25 |
| 2020 | 29.45 | 10.42% | $247.42 | $8.4 |
| 2019 | 26.67 | 8.99% | $233.65 | $8.76 |
| 2018 | 24.47 | -96.83% | $188.65 | $7.71 |
| 2017 | 772.76 | 3,615.19% | $193.19 | $0.25 |
| 2016 | 20.8 | -11.9% | $134.39 | $6.46 |
| 2015 | 23.61 | 7.22% | $134.58 | $5.7 |
| 2014 | 22.02 | 16.02% | $112.72 | $5.12 |
| 2013 | 18.98 | 14.41% | $100 | $5.27 |
| 2012 | 16.59 | 6.89% | $87.12 | $5.25 |
| 2011 | 15.52 | -17.53% | $74.05 | $4.77 |
| 2010 | 18.82 | 2.34% | $77.71 | $4.13 |
Waters PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2025 | 32.75 | -5.1% | $362.16 | $11.06 |
| Dec 2024 | 34.51 | 1.5% | $370.98 | $10.75 |
| Sep 2024 | 34 | 18.01% | $357.33 | $10.51 |
| Jun 2024 | 28.81 | -14.2% | $290.12 | $10.07 |
| Mar 2024 | 33.58 | 10.86% | $344.23 | $10.25 |
| Dec 2023 | 30.29 | 22.29% | $329.23 | $10.87 |
| Sep 2023 | 24.77 | 5.85% | $274.21 | $11.07 |
| Jul 2023 | 23.4 | -12.72% | $266.54 | $11.39 |
| Apr 2023 | 26.81 | -7.65% | $309.63 | $11.55 |
| Dec 2022 | 29.03 | 23.95% | $342.58 | $11.8 |
| Oct 2022 | 23.42 | -19.77% | $269.53 | $11.51 |
| Jul 2022 | 29.19 | 8.88% | $336.89 | $11.54 |
| Apr 2022 | 26.81 | -19.05% | $308.58 | $11.51 |
| Dec 2021 | 33.12 | 4.58% | $372.6 | $11.25 |
| Oct 2021 | 31.67 | -5.12% | $355.7 | $11.23 |
WAT Price vs fair value
You can ether set your own Fair P/E multiple or use one of the automatically calculated Fair P/E multiples.
Fair P/E calculation
PE Ratio is an attempt to estimate a fair PE ratio of a stock based on its earnings and growth rate.
This formula is a modified version of the classic Graham-Dodd Formula (V= EPS x (8.5+2g)), originally developed by Benjamin Graham, to calculate the fair price of a stock based on its earnings and growth rate.
The formula we have created is an adaptation of this approach, designed to maintain a balance between simplicity and growth sensitivity.
It is calculated using the following formula:
IF g < 5: Fair PE = b
IF g >= 5: Fair PE = m × g
Here’s what each part of the formula means:
g: Growth is calculated as the average of the three-year average EPS growth rate and the one-year EPS growth rate (annually). This approach provides a balanced measure of growth by factoring in both the long-term growth trend and the most recent annual growth performance. If one of the growth metrics is not available, the remaining metric is used to determine growth. The fair P/E value is capped at 100 to prevent distortions caused by extreme EPS growth rates, such as those resulting from large percentage increases from a low base.
m: This is the long term historical median PEG (Price/Earnings to Growth) ratio of the overall market. It serves as a benchmark, adjusting the Fair PE based on typical market conditions.
b: Base PE (static value set to 8). If the company's growth rate is less than 5, the Fair PE is set at a conservative baseline of 8. This is because declining companies generally deserve a lower PE ratio.
Fixed vs Dynamic
Fixed: The Fair PE ratio for all data points is calculated using a single, constant average EPS growth rate, determined based on the most recent period. This means that the same growth rate is applied to all historical data points. Dynamic: The Fair PE ratio for each historical data point is calculated using the trailing average EPS growth rate specific to that point in time. This means that for each data point, the corresponding trailing EPS growth rate is used, ensuring that the Fair PE ratio reflects the growth conditions that were relevant at that specific point in history.
WAT average PE ratio chart
The current PE ratio of WAT is above its 3 and 5-year averages, but it is under its 10-year average.
PE vs average
WAT PE vs peers
WAT's PE ratio is less than its peer stocks GE and DHR, but it is above TMO's and A's. Waters is currently trading at a lower PE ratio (31.45) than its peers average of 38.79.
| Stock name | PE ratio | Market cap |
|---|---|---|
| TMO Thermo Fisher Scientific Inc | 23.7 | $152.92B |
| A Agilent Technologies Inc | 29.24 | $33.81B |
| MTD Mettler Toledo International Inc | 29.4 | $24.58B |
| WAT Waters Corp | 31.45 | $20.7B |
| GE General Electric Co | 36.5 | $252.24B |
| DHR Danaher Corp | 38.75 | $143.93B |
| BRKR Bruker Corp | 75.15 | $5.92B |
| BIO Bio-Rad Laboratories Inc | N/A | $6.31B |
| HBIO Harvard Bioscience Inc | N/A | $22.51M |
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Frequently asked questions
What is Waters's PE ratio?
The price to earnings ratio for WAT stock is 31.45 as of Jun 16, 2025.
What is the 3-year average PE ratio for Waters (WAT)?
The average PE ratio for WAT stock over the past 3 years is 29.21.
What is the 5-year average PE ratio for Waters (WAT)?
The average PE ratio for WAT stock over the past 5 years is 28.98.
What is the highest PE ratio for WAT?
Over the last ten years, the Dec 2017 quarter recorded the highest quarterly PE ratio at 772.76.
How does the current PE ratio for WAT compare to its historical average?
The current PE ratio of WAT is 56% lower than the 10-year historical average.
How is WAT's PE ratio calculated (Waters PE ratio formula)?
The P/E ratio is calculated by taking the latest stock price and dividing it by the earnings per share(EPS) for the last 12 months. As of today (Jun 16, 2025), Waters's share price is $347.81. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2025 is $11.06. Therefore, Waters's price to earnings ratio for today is 31.45. PE RATIO(31.45) = STOCK PRICE($347.81) / TTM EPS($11.06)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.