Waters Corp Dossier
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SectorHealth Care IndustryDiagnostics & Research Beta (adjusted)1.13 Intrinsic Value $78.55median of 6 methods · middle span $45-$328based on filings through 4 Jul 2026 Market Price $439.39Price as of 30 Sep 2026 Significantly overvaluedIntrinsic value is 82% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% marker beyond scale (-82%) Data confidence Sign in to view data confidence Market Cap $43.1B Enterprise Value $47.5B Shares Outstanding 98.2M diluted Moat Rating None Next Earnings Date3 Nov 2026 Last ex-dividend26 Nov 1996 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Waters entered the second half of 2026 with strong operating momentum: second-quarter organic constant-currency revenue grew 9%, the recently acquired businesses grew 4% on a comparable basis, and management raised every component of full-year guidance. The February combination materially broadened Waters into biosciences and advanced diagnostics and established sizable long-term synergy opportunities. Nevertheless, this is still an early-stage integration of a transformative acquisition, GAAP results are being burdened by substantial purchase-accounting and integration charges. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$349.00 Mean target$436.00 High · most bullish analyst$475.00 Our research · scenarios, merits, risks, and invalidation triggersResearch as of 2 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $349.0023% Organic growth falls below the guidance floor, acquired-business revenue misses the revised expectation, or integration complexity delays the commercial and cost benefits described when the transaction was announced. Purchase-accounting and integration charges would further obscure underlying progress. Base CaseCentral scenario $436.0058% Matches the consensus meanWaters delivers within its revised 2026 ranges, including 7%-9% organic constant-currency growth, approximately $3.045 billion of acquired-business revenue, and adjusted EPS of $14.45-$14.65. Integration progresses broadly according to plan, but investors continue to require evidence that early acquired-business acceleration and projected synergies are durable. Bull CaseUpside scenario $475.0019% Organic growth remains at or above the upper end of the 7%-9% full-year range, acquired-business revenue meets or exceeds the revised $3.045 billion expectation, and Waters demonstrates accelerating commercial and cost benefits from the combination. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |