Waters Corporation WAT
Revenue Intelligence Report • 70 quarters of SEC filing data • Updated 2026-03-15
Waters Corporation has a forecasted full-year revenue of $3.4B, a +7.2% year-over-year change, based on 70 quarters of SEC filing data. Key revenue drivers include R&D ($13.12 per $1) and SG&A ($3.42 per $1). The ARDL model achieves strong accuracy at 2.7% MAPE.
Investment Thesis
Our ARDL model tracks Waters Corporation's revenue with exceptional precision (2.7% MAPE), indicating highly predictable cash flows. Every $1 of R&D investment is associated with $13.12 of revenue, indicating efficient capital deployment in innovation. Each $1 of SG&A spending generates $3.42 in revenue, reflecting strong commercial efficiency.
Revenue Forecast
Quarterly Detail
| Quarter | Model Forecast | Actual | 95% Range | YoY Growth | Status |
|---|---|---|---|---|---|
| Q4 2025 | $1.0B | $0.9B | $0.9B – $1.0B | +11.6% | ✓ In range |
| Q1 2026 | $0.8B | $0.7B – $0.8B | +15.5% | ||
| Q2 2026 | $0.8B | $0.7B – $0.9B | +2.9% | ||
| Q3 2026 | $0.8B | $0.7B – $0.9B | +1.3% | ||
| Q4 2026 | $1.0B | $0.9B – $1.1B | +9.9% |
Seasonal Factors
| Fiscal Quarter | Seasonal Factor | vs Trend | Interpretation | Obs. |
|---|---|---|---|---|
| FQ1 (Sep–Nov) | 1.0157 | +1.6% | In line with trend | 17 |
| FQ2 (Dec–Feb) | 0.9994 | -0.1% | In line with trend | 17 |
| FQ3 (Mar–May) | 0.974 | -2.6% | In line with trend | 16 |
| FQ4 (Jun–Aug) | 1.0004 | +0.0% | In line with trend | 16 |
How Spending Drives Revenue
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