Waters annual free cash flow
2023
2024
2025
Waters Free Cash Flow (FCF) History (WAT)
Waters reported $539.8M in free cash flow for fiscal 2025, a decrease of 12.88% from the previous fiscal year, with a free cash flow margin of 17.05%.
View full Waters company overviewWaters free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $539.8M | −$79.8M | −12.88% | +17.05% |
| 2024 | 2024-12-31 | $619.6M | $177.5M | +40.13% | +20.95% |
| 2023 | 2023-12-31 | $442.2M | — | — | +14.96% |
Waters quarterly free cash flow
Q1.25
Q2.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-07-04 | $153.0M | — | — | +9.30% |
| Q1 2026 | 2026-04-04 | −$42.0M | — | — | −3.31% |
| Q2 2025 | 2025-06-28 | $18.0M | — | — | +2.33% |
| Q1 2025 | 2025-03-29 | $234.0M | — | — | +35.35% |
Waters free cash flow growth trends
Waters's latest reported quarter, Q2 2026, generated $153.0M in free cash flow.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Waters filings at SEC.gov ↗