WATERS CORP DE（WAT）の決算・業績分析
WATERS CORP DEの2025年有価証券報告書をAI分析。売上高$3.2B(+7.0%)。営業利益$803M。Health Care。
目次
WATERS CORP DEの2025年度 業績サマリー
WATERS CORP DE（証券コード: WAT）の2025年度決算・業績分析。売上高は$3.2B（前年比+7.0%）。営業利益は$803M（前年比-2.9%）。純利益は$643M（前年比+0.8%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
WATERS CORP DEの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- WATERS CORP achieved a net margin of 23.8% (XBRL) and ROE of 192.6% (XBRL) in FY2024, reflecting strong profitability despite a 2.2% YoY increase in net income (XBRL).
- Revenue grew 6.7% YoY to $3.0B (XBRL), with operating income rising 6.3% YoY to $873M (XBRL), driven by a 31.8% EBITDA margin (XBRL).
- The company executed $626M in share repurchases (XBRL) and maintained a current ratio of 2.22x (XBRL), though net debt stood at $1.9B (2.0x EBITDA) (XBRL).
WATERS CORP DEの売上高変化の要因
- •Revenue increased 6.7% YoY to $3.0B (XBRL), up from $2.8B in FY2023 (XBRL). The 5-year CAGR of 4.1% (XBRL) reflects steady growth, though operating income growth (6.3% YoY) outpaced net income growth (2.2% YoY). The company's revenue has remained flat at $3.0B in FY2024 and FY2025 (XBRL), with no segment or product-specific breakdown available (N/A).
WATERS CORP DEの営業利益変化の要因
- •WATERS CORP achieved a 29.4% operating margin (XBRL) and 23.8% net margin (XBRL), with EBITDA at $945M (31.8% margin) (XBRL). Operating income grew 6.3% YoY (XBRL), while net income increased 2.2% YoY (XBRL). The company's ROA of 15.3% (XBRL) and ROIC of 11.2% (XBRL) highlight strong asset and capital efficiency.
WATERS CORP DEの事業リスクと対応
Climate change risks could disrupt operations due to regulatory changes and severe weather (10-K).
Accounting estimates for revenue recognition, goodwill, and tax positions may lead to material financial result variations (10-K).
Retirement plan risks, including regulatory changes and market fluctuations, could impact pension obligations and cash flows (10-K).
Cash flow insufficiency, with $1.6B in debt and $325M in cash, raises reliance on credit facilities (10-K).
Debt covenants impose restrictions on financial ratios and activities, potentially limiting operations (10-K).
WATERS CORP DEの事業内容
WATERS CORP operates in the scientific instruments and services sector, though specific details on its business model, products, or competitive position are not disclosed in the provided data (N/A). Historical financial data indicates consistent revenue growth over five years, with a 4.1% CAGR (XBRL). The company's balance sheet shows significant leverage, with a debt-to-equity ratio of 9.46x (XBRL) and total assets increasing from $2.6B in FY2020 to $4.6B in FY2024 (XBRL).
WATERS CORP DEのAI業績分析レポート（2024年度）
WATERS CORP FY2024 Annual Report Analysis
Highlights
Business Overview
WATERS CORP operates in the scientific instruments and services sector, though specific business model details are unavailable (N/A). Revenue has grown at a 4.1% CAGR over five years (XBRL), with total assets increasing from $2.6B in FY2020 to $4.6B in FY2024 (XBRL). The company maintains a current ratio of 2.22x (XBRL) but carries significant leverage, with a debt-to-equity ratio of 9.46x (XBRL).
Revenue Analysis
Revenue increased 6.7% YoY to $3.0B (XBRL), up from $2.8B in FY2023 (XBRL). The 5-year CAGR of 4.1% (XBRL) reflects steady growth, though net income grew only 2.2% YoY (XBRL). No segment or product-specific revenue data is available (N/A).
Profitability Analysis
WATERS CORP achieved a 29.4% operating margin (XBRL) and 23.8% net margin (XBRL), with EBITDA at $945M (31.8% margin) (XBRL). Operating income grew 6.3% YoY (XBRL), while net income increased 2.2% YoY (XBRL). The company's ROA of 15.3% (XBRL) and ROIC of 11.2% (XBRL) highlight strong asset and capital efficiency.
Balance Sheet Analysis
Total assets rose to $4.6B (XBRL) in FY2024, with total equity at $368M (XBRL) and a 7.9% equity ratio (XBRL). The company carries $2.3B in long-term debt (XBRL), resulting in a net debt of $1.9B (2.0x EBITDA) (XBRL). Liquidity is supported by $395M in cash (XBRL) and a current ratio of 2.22x (XBRL).
Cash Flow Analysis
Operating cash flow totaled $612M (XBRL), with $504M in free cash flow (XBRL). The company spent $108M on investing activities (XBRL) and used $510M in financing activities, primarily for $626M in share repurchases (XBRL). Depreciation and amortization amounted to $72M (XBRL).
Working Capital Analysis
The cash conversion cycle (CCC) was 218 days (XBRL), driven by 86 days of receivables (XBRL), 158 days of inventory (XBRL), and 26 days of payables (XBRL).
Risks
Outlook
Management guidance or forward-looking trends are not explicitly mentioned in the provided data (N/A).
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