Waters Cash Flow Statement
NYSE: WATIndustrialsBiotechnology: Laboratory Analytical InstrumentsUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Waters free cash flow
In fiscal 2025, Waters generated $652.6 million of operating cash flow and spent $112.7 million on capital expenditures. That left free cash flow of $539.8 million, a free-cash-flow margin of 17.1% of revenue. Free cash flow was down 12.9% from the prior year's $619.6 million.
Waters returned $14.7 million to shareholders through share repurchases, equal to 3% of free cash flow.
Summary generated from market data by MetaCap's automated system. Methodology
Waters cash flow statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 642.63M | 637.83M | 642.23M | 707.75M | 692.84M | 521.57M | 592.20M | 593.79M | 20.31M | 521.50M |
| Net Income growth (YoY) | +0.75% | -0.69% | -9.26% | +2.15% | +32.84% | -11.93% | -0.27% | +2823.51% | -96.11% | +11.18% |
| Depreciation & Amortization | 88.14M | 87.02M | 84.63M | 72.00M | 71.56M | 68.69M | 53.84M | 57.95M | 61.45M | 51.68M |
| Stock-Based Compensation | 54.13M | 44.71M | 36.87M | 42.56M | 29.92M | 36.87M | 38.58M | 37.54M | 39.44M | 41.00M |
| Change in Working Capital | -201.06M | -108.00M | -207.53M | -236.88M | -131.17M | 118.42M | -100.65M | -121.92M | -43.06M | -37.12M |
| Operating Cash Flow | 652.55M | 762.12M | 602.81M | 611.66M | 747.27M | 790.51M | 643.09M | 604.45M | 697.64M | 642.92M |
| Capital Expenditures | -112.75M | -142.48M | -160.63M | — | — | — | — | — | — | — |
| Investing Cash Flow | -152.25M | -143.09M | -1.44B | -107.97M | -231.63M | -264.09M | 768.80M | 1.68B | -535.75M | -487.92M |
| Share Repurchases | -14.67M | -13.54M | -70.28M | -626.06M | -648.93M | -196.41M | -2.47B | -1.32B | -332.54M | -325.76M |
| Debt Issued | 70.00M | 170.00M | 1.45B | 205.00M | 510.00M | 315.00M | 925.67M | 274.00K | 1.48B | 485.30M |
| Debt Repaid | -290.00M | -900.00M | -670.04M | -145.00M | -350.00M | -640.37M | -390.48M | -850.43M | -1.31B | -325.32M |
| Financing Cash Flow | -237.21M | -696.67M | 754.95M | -509.63M | -438.27M | -440.50M | -1.87B | -2.12B | -63.87M | -115.70M |
| Net Change in Cash | 262.48M | -69.72M | -85.45M | -20.70M | 64.54M | 100.98M | -460.56M | 153.96M | 136.69M | 17.97M |
| Free Cash Flow | 539.81M | 619.64M | 442.18M | 611.66M | 747.27M | 790.51M | 643.09M | 604.45M | 697.64M | 642.92M |
This table shows 10 annual periods of Waters's cash flow statement, from FY 2025 back to FY 2016, across 13 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow WAT's reporting calendar. What is a cash flow statement?