Waters annual gross margin
2007
2008
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2011
2012
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2015
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2020
2021
2022
2023
2024
2025
Waters Gross Margin Growth & History (WAT)
Waters's gross margin was 59.28% for fiscal 2025.
View full Waters company overviewWaters annual gross margin history
| Fiscal year | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 59.28% | −0.15 pp |
| 2024 | 2024-12-31 | 59.43% | −0.14 pp |
| 2023 | 2023-12-31 | 59.57% | +1.57 pp |
| 2022 | 2022-12-31 | 58.00% | −0.48 pp |
| 2021 | 2021-12-31 | 58.49% | +1.05 pp |
| 2020 | 2020-12-31 | 57.44% | −0.56 pp |
| 2019 | 2019-12-31 | 58.00% | −0.98 pp |
| 2018 | 2018-12-31 | 58.98% | −0.00 pp |
| 2017 | 2017-12-31 | 58.99% | +0.11 pp |
| 2016 | 2016-12-31 | 58.87% | +0.13 pp |
| 2015 | 2015-12-31 | 58.74% | +0.21 pp |
| 2014 | 2014-12-31 | 58.53% | −0.32 pp |
| 2013 | 2013-12-31 | 58.86% | −1.13 pp |
| 2012 | 2012-12-31 | 59.99% | −0.55 pp |
| 2011 | 2011-12-31 | 60.54% | +0.29 pp |
| 2010 | 2010-12-31 | 60.25% | −0.06 pp |
| 2009 | 2009-12-31 | 60.31% | +2.29 pp |
| 2008 | 2008-12-31 | 58.02% | +0.86 pp |
| 2007 | 2007-12-31 | 57.16% | — |
Waters quarterly gross margin
Q2.08
Q3.08
Q1.09
Q2.09
Q3.09
Q4.09
Q1.10
Q2.10
Q3.10
Q4.10
Q1.11
Q2.11
Q3.11
Q4.11
Q1.12
Q2.12
Q3.12
Q4.12
Q1.13
Q2.13
Q3.13
Q4.13
Q1.14
Q2.14
Q3.14
Q4.14
Q1.15
Q2.15
Q3.15
Q4.15
Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q1.17
Q2.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-07-04 | 44.62% | −13.71 pp |
| Q1 2026 | 2026-04-04 | 46.41% | −11.77 pp |
| Q4 2025 | 2025-12-31 | 61.08% | +1.02 pp |
| Q3 2025 · Sep 30 | 2025-09-30 | 59.02% | −0.23 pp |
| Q2 2025 · Jun 30 | 2025-06-30 | 58.33% | −0.99 pp |
| Q1 2025 · Mar 31 | 2025-03-31 | 58.18% | −0.72 pp |
| Q4 2024 | 2024-12-31 | 60.07% | −1.09 pp |
| Q3 2024 · Sep 30 | 2024-09-30 | 59.25% | +0.20 pp |
| Q2 2024 · Jun 30 | 2024-06-30 | 59.32% | −0.03 pp |
| Q1 2024 · Mar 31 | 2024-03-31 | 58.89% | +0.43 pp |
| Q4 2023 | 2023-12-31 | 61.15% | +1.71 pp |
| Q3 2023 | 2023-09-30 | 59.05% | +2.40 pp |
| Q2 2023 · Jun 30 | 2023-06-30 | 59.35% | +2.35 pp |
| Q1 2023 · Mar 31 | 2023-03-31 | 58.46% | −0.17 pp |
| Q4 2022 | 2022-12-31 | 59.44% | +1.41 pp |
| Q3 2022 · Sep 30 | 2022-09-30 | 56.66% | −2.21 pp |
| Q2 2022 · Jun 30 | 2022-06-30 | 56.99% | −1.89 pp |
| Q1 2022 · Mar 31 | 2022-03-31 | 58.63% | — |
| Q4 2021 | 2021-12-31 | 58.04% | −1.21 pp |
| Q3 2021 · Sep 30 | 2021-09-30 | 58.87% | +3.05 pp |
| Q2 2021 · Jun 30 | 2021-06-30 | 58.89% | −0.13 pp |
| Q1 2021 · Apr 3 | 2021-04-03 | 84.34% | +29.65 pp |
| Q1 2021 · Mar 31 | 2021-03-31 | 58.24% | +3.54 pp |
| Q4 2020 | 2020-12-31 | 59.25% | +1.00 pp |
| Q3 2020 · Sep 30 | 2020-09-30 | 55.82% | −2.42 pp |
| Q2 2020 · Jun 30 | 2020-06-30 | 59.01% | +0.66 pp |
| Q1 2020 · Mar 31 | 2020-03-31 | 54.69% | −2.29 pp |
| Q4 2019 | 2019-12-31 | 58.25% | −1.63 pp |
| Q3 2019 · Sep 30 | 2019-09-30 | 58.24% | −0.04 pp |
| Q2 2019 · Jun 30 | 2019-06-30 | 58.35% | −0.87 pp |
| Q1 2019 · Mar 31 | 2019-03-31 | 56.99% | −1.29 pp |
| Q4 2018 | 2018-12-31 | 59.88% | −0.77 pp |
| Q3 2018 · Sep 30 | 2018-09-30 | 58.28% | −0.01 pp |
| Q2 2018 | 2018-06-30 | 59.22% | — |
| Q1 2018 | 2018-03-31 | 58.28% | — |
| Q4 2017 | 2017-12-31 | 60.65% | +0.66 pp |
| Q3 2017 | 2017-09-30 | 58.29% | −0.26 pp |
| Q2 2017 · Jul 1 | 2017-07-01 | 73.48% | +14.56 pp |
| Q2 2017 · Jun 30 | 2017-06-30 | 58.87% | −0.06 pp |
| Q1 2017 · Apr 1 | 2017-04-01 | 73.26% | +15.59 pp |
| Q1 2017 · Mar 31 | 2017-03-31 | 57.61% | −0.07 pp |
| Q4 2016 | 2016-12-31 | 59.99% | +0.55 pp |
| Q3 2016 | 2016-10-01 | 58.56% | −0.13 pp |
| Q2 2016 | 2016-07-02 | 58.93% | +1.11 pp |
| Q1 2016 | 2016-04-02 | 57.67% | −1.22 pp |
| Q4 2015 | 2015-12-31 | 59.44% | −0.63 pp |
| Q3 2015 | 2015-10-03 | 58.69% | −0.31 pp |
| Q2 2015 | 2015-07-04 | 57.81% | −0.29 pp |
| Q1 2015 | 2015-04-04 | 58.90% | +2.50 pp |
| Q4 2014 | 2014-12-31 | 60.07% | +0.57 pp |
| Q3 2014 | 2014-09-27 | 59.00% | +0.88 pp |
| Q2 2014 | 2014-06-28 | 58.10% | −0.15 pp |
| Q1 2014 | 2014-03-29 | 56.40% | −3.04 pp |
| Q4 2013 | 2013-12-31 | 59.50% | −0.56 pp |
| Q3 2013 | 2013-09-28 | 58.11% | −1.28 pp |
| Q2 2013 | 2013-06-29 | 58.25% | −2.04 pp |
| Q1 2013 | 2013-03-30 | 59.43% | −0.78 pp |
| Q4 2012 | 2012-12-31 | 60.07% | −0.76 pp |
| Q3 2012 | 2012-09-29 | 59.40% | −0.93 pp |
| Q2 2012 | 2012-06-30 | 60.29% | −0.36 pp |
| Q1 2012 | 2012-03-31 | 60.21% | −0.07 pp |
| Q4 2011 | 2011-12-31 | 60.83% | −0.03 pp |
| Q3 2011 | 2011-10-01 | 60.33% | +0.97 pp |
| Q2 2011 | 2011-07-02 | 60.66% | +0.33 pp |
| Q1 2011 | 2011-04-02 | 60.28% | −0.03 pp |
| Q4 2010 | 2010-12-31 | 60.86% | +0.54 pp |
| Q3 2010 | 2010-10-02 | 59.36% | +0.31 pp |
| Q2 2010 | 2010-07-03 | 60.33% | +0.06 pp |
| Q1 2010 | 2010-04-03 | 60.31% | −1.42 pp |
| Q4 2009 | 2009-12-31 | 60.33% | — |
| Q3 2009 | 2009-10-03 | 59.05% | +0.08 pp |
| Q2 2009 | 2009-07-04 | 60.27% | +4.21 pp |
| Q1 2009 | 2009-04-04 | 61.73% | — |
| Q3 2008 | 2008-09-27 | 58.97% | — |
| Q2 2008 | 2008-06-28 | 56.06% | — |
Waters gross margin trends
Over the last five fiscal years, Waters's gross margin increased from 57.44% to 59.28%, a change of +1.84 percentage points. The latest reported quarter, Q2 2026, shows 44.62%.
About the metric
What gross margin means
Gross margin measures the percentage of revenue remaining after the direct costs of producing goods or services. It helps show how efficiently a company turns sales into gross profit before operating expenses.
Calculation and source
How gross margin is calculated
TickerStat calculates gross margin as SEC-reported gross profit divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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