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Intrinsic value of Waters Corporation (WAT)

Previous Close$346.93
Intrinsic Value
Upside potential
Previous Close
$346.93

VALUATION INPUT DATA (original, your and others' valuations)

ParameterOrig.Your
Date of valuation (DoV)  
Intrinsic value (IV) at DoV, $/sh  
IV at current val. algorithm, $/sh125.09 

The original valuation is based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-09-30.

Registered users can save their valuation input data

  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.

Company description

Waters Corporation, a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments, Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans. It also designs, manufactures, sells, and services thermal analysis, rheometry, and calorimetry instruments; and develops and supplies software-based products that interface with its instruments, as well as other manufacturers' instruments. Its MS technology instruments are used in drug discovery and development comprising clinical trial testing, the analysis of proteins in disease processes, nutritional safety analysis, and environmental testing. The company offers thermal analysis, rheometry, and calorimetry instruments for use in predicting the suitability and stability of fine chemicals, pharmaceuticals, water, polymers, metals, and viscous liquids for various industrial, consumer good, and healthcare products, as well as for life science research. Its products are used by life science, pharmaceutical, biochemical, industrial, nutritional safety, environmental, academic, and governmental customers working in research and development, quality assurance, and other laboratory applications. Waters Corporation was founded in 1958 and is headquartered in Milford, Massachusetts.

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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