Mettler-Toledo International (MTD) vs Waters (WAT)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 7, 2026.
Summary
Waters (WAT) has outperformed Mettler-Toledo International (MTD) over the past year, gaining 36.9% versus a gain of 17.1%. Over five years, WAT leads with a +26.5% price change compared with +8.2% for MTD. Waters is the larger company by market cap ($42.81 billion vs $30.73 billion), about 1.4 times the size.
On valuation, Waters trades at a lower forward P/E (26.4x vs 29.6x for Mettler-Toledo International). Mettler-Toledo International converts more of its revenue into profit, with a net margin of 21.6% versus 20.3%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | MTD | WAT |
|---|---|---|
| Share price | $1,533.48 | $435.99 |
| Market cap | $30.73B | $42.81B |
| 1-day change | +0.03% | -0.10% |
| YTD return | +9.99% | +14.78% |
| 1-year return | +17.14% | +36.95% |
| 5-year return | +8.16% | +26.48% |
| P/E ratio (TTM) | 34.56 | 110.38 |
| Forward P/E | 29.62 | 26.36 |
| EPS (TTM) | $44.37 | $3.95 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $4.03B | $3.17B |
| Revenue growth (YoY) | +3.98% | +6.99% |
| Net income (latest FY) | $869.19M | $642.63M |
| Gross margin | 59.37% | 59.28% |
| Operating margin | — | 25.36% |
| Net margin | 21.59% | 20.30% |
| 52-week high | $1,585.72 | $454.54 |
| 52-week low | $1,023.05 | $282.77 |
| Distance from 52-week high | -3.29% | -4.08% |
| Analyst consensus | hold | buy |
| Avg. price target upside | -4.04% | +3.96% |
| Average volume | 182.98K | 770.67K |
| Shares outstanding | 20.04M | 98.19M |
| Employees | 16,600 | 16,000 |
| Sector | Industrials | Industrials |
| Industry | Biotechnology: Laboratory Analytical Instruments | Biotechnology: Laboratory Analytical Instruments |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- WAT has outperformed MTD by 19.8 percentage points over the past year.
- Waters trades at a higher earnings multiple (110.4x vs 34.6x trailing P/E).
About Mettler-Toledo International
MTD stock →Mettler-Toledo International Inc. manufactures and supplies precision instruments and services in the Americas, Europe, Asia, and internationally.
Industrials · Biotechnology: Laboratory Analytical Instruments · 16,600 employees
About Waters
WAT stock →Waters Corporation provides analytical workflow solutions in Asia, the Americas, and Europe. The company operates through two segments, Waters and TA.
Industrials · Biotechnology: Laboratory Analytical Instruments · 16,000 employees
MTD vs WAT FAQ
Which is bigger, Mettler-Toledo International or Waters?
Waters (WAT) is larger, with a market capitalization of $42.81B compared with $30.73B for Mettler-Toledo International (MTD).
Which stock has performed better over the past year, MTD or WAT?
WAT returned +36.95% over the past 12 months, compared with +17.14% for MTD (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, MTD or WAT?
MTD has the lower trailing P/E at 34.6, versus 110.4 for WAT. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Are Mettler-Toledo International and Waters in the same industry?
Yes. Both are classified in the Biotechnology: Laboratory Analytical Instruments industry within the Industrials sector.