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WAT

Waters Corporation

NYSE: WAT · HEALTHCARE · DIAGNOSTICS & RESEARCH

$292.13
-2.86% today

Updated 2026-04-29

Market cap
$28.68B
P/E ratio
27.12
P/S ratio
9.06x
EPS (TTM)
$10.77
Dividend yield
—
52W range
$275 – $414
Volume
1.1M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Waters Corporation (WAT) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$292.13
Consensus
$387.00
+32.48%
2030 Target
$1,156.11
+295.75%
DCF
—
—
17 analysts:
9 Buy8 Hold0 Sell

Management guidance

Waters completed the acquisition of BD's Biosciences Diagnostic Solutions business in early 2026, which is reflected in analyst estimates of 104.66% revenue growth to $6.48B in 2026. Management has not provided explicit forward guidance beyond 2026 in available disclosures, but the BD integration represents a transformational acquisition that more than doubles the company's revenue base and expands into higher-growth diagnostics markets.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$1,916.71
$9.4B Rev × 20x P/S
Base case (2030)
$1,156.11
$9.4B Rev × 12x P/S
Bear case (2030)
$760.60
$9.4B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$3.0B$3.0B$3.2B$6.5B$7.2B$7.9B$8.7B$9.4B
Revenue growth—0.1%7.0%104.7%10.3%10.7%9.6%8.9%
EPS$11.75$11.87$13.13$14.54$16.52$18.25$19.95$21.60
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$791.02$882.30$973.57$1,064.84$1,156.11

Catalysts & risks

Growth catalysts
+ BD Biosciences integration driving 100%+ FY2026 revenue growth and margin accretion
+ New product launches including ARES-G3 Rheometer and MaxPeak Premier LC columns addressing high-growth diagnostic workflows
+ $3.5B senior notes offering providing financial flexibility for integration and capex
+ Diagnostics market tailwinds from increased biopharma R&D spending and clinical testing demand
+ Operating leverage from combined platform as integration synergies materialize in 2027-2028
Key risks
- Integration execution risk on BD Biosciences acquisition; margin compression during transition (noted in Q4 earnings)
- Life sciences sector spending slowdown affecting biopharma R&D budgets and instrument demand
- Competitive intensity from Agilent, Thermo Fisher, and Revvity in analytical instruments and diagnostics
- Macroeconomic uncertainty and customer capex deferrals impacting near-term growth trajectory
- High debt levels post-acquisition ($3.5B term loan, $3.5B notes) limiting financial flexibility

Methodology

Waters Corporation's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 17 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.