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Intrinsic value of Waters Corporation (WAT)

Previous Close$318.95
Intrinsic Value
Upside potential
Previous Close
$318.95

VALUATION INPUT DATA

Revenue, mln $
Initial revenue growth rate (norm.), %
Variable cost ratio, %
Fixed operating expenses, mln $
Production assets / Revenue, %
Working capital / Revenue, %
Interest rate on debt, %
Initial discount rate, %
Shares outstanding, mln
Adjusted equity ratio
Adjusted assets / Revenue
Cash & ST Investments
Total debt
Market cap, m$
19,370

Based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %17.8NaN
Revenue, $2786NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m1964NaN
Operating income, $m822NaN
EBITDA, $m953NaN
Interest expense (income), $mNaN
Earnings before tax, $m806NaN
Tax expense, $m113NaN
Net income, $m693NaN

BALANCE SHEET

Cash and short-term investments, $m569NaN
Total assets, $m3095NaN
Adjusted assets (=assets-cash), $m2526NaN
Average production assets, $m1302NaN
Working capital, $m948NaN
Total debt, $m1601NaN
Total liabilities, $m2727NaN
Total equity, $m368NaN
Debt-to-equity ratio4.351NaN
Adjusted equity ratio-0.068NaN

CASH FLOW

Net income, $m693NaN
Depreciation, amort., depletion, $m132NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m747NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-161NaN
Free cash flow, $m909NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m948
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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