Waters Corporation (WAT) — Capital Reinvestment Ratio
Waters Corporation (WAT) has a Capital Reinvestment Ratio of 0.24x as of December 2025, meaning it reinvests 0% of its operating cash flow ($164.55 Million) in capital expenditures ($38.97 Million). Check tangible equity quality of Waters Corporation to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Waters Corporation Capital Reinvestment Ratio (1995–2025)
This chart tracks Waters Corporation's Capital Reinvestment Ratio across 31 annual periods. For the full cash flow conversion analysis, see Waters Corporation (WAT) cash conversion ratio.
Annual Capital Reinvestment Ratio for Waters Corporation (1995–2025)
Year-by-year Capital Reinvestment Ratio for Waters Corporation from 1995 to 2025. See Waters Corporation (WAT) free cash flow to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.17x | $652.55 Million | $112.75 Million | ▼ -7.6% |
| 2024 | 0.19x | $762.12 Million | $142.48 Million | ▼ -29.8% |
| 2023 | 0.27x | $602.81 Million | $160.63 Million | ▼ -11.2% |
| 2022 | 0.30x | $611.66 Million | $183.46 Million | ▲ +33.2% |
| 2021 | 0.23x | $747.27 Million | $168.27 Million | ▲ +3.3% |
| 2020 | 0.22x | $790.51 Million | $172.38 Million | ▼ -14.4% |
| 2019 | 0.25x | $643.09 Million | $163.82 Million | ▲ +20.7% |
| 2018 | 0.21x | $604.45 Million | $127.56 Million | ▲ +62.7% |
| 2017 | 0.13x | $697.64 Million | $90.47 Million | ▼ -14.1% |
| 2016 | 0.15x | $629.08 Million | $94.97 Million | ▼ -17.9% |
| 2015 | 0.18x | $560.29 Million | $103.01 Million | ▼ -11.5% |
| 2014 | 0.21x | $511.65 Million | $106.25 Million | ▼ -15.0% |
| 2013 | 0.24x | $484.88 Million | $118.45 Million | ▲ +4.8% |
| 2012 | 0.23x | $449.28 Million | $104.75 Million | ▲ +35.7% |
| 2011 | 0.17x | $497.37 Million | $85.44 Million | ▲ +25.4% |
| 2010 | 0.14x | $457.86 Million | $62.74 Million | ▼ -38.9% |
| 2009 | 0.22x | $418.26 Million | $93.80 Million | ▲ +35.8% |
| 2008 | 0.17x | $418.25 Million | $69.06 Million | ▲ +1.4% |
| 2007 | 0.16x | $370.51 Million | $60.34 Million | ▼ -16.5% |
| 2006 | 0.20x | $263.59 Million | $51.42 Million | ▲ +13.9% |
| 2005 | 0.17x | $298.07 Million | $51.05 Million | ▼ -32.9% |
| 2004 | 0.26x | $259.45 Million | $66.24 Million | ▲ +15.9% |
| 2003 | 0.22x | $157.00 Million | $34.59 Million | ▲ +27.4% |
| 2002 | 0.17x | $219.65 Million | $37.97 Million | ▼ -22.9% |
| 2001 | 0.22x | $189.15 Million | $42.41 Million | ▲ +11.3% |
| 2000 | 0.20x | $175.59 Million | $35.37 Million | ▲ +38.8% |
| 1999 | 0.15x | $150.20 Million | $21.80 Million | ▼ -12.1% |
| 1998 | 0.17x | $110.20 Million | $18.20 Million | ▼ -91.1% |
| 1997 | 1.86x | $96.40 Million | $179.20 Million | ▲ +925.2% |
| 1996 | 0.18x | $55.70 Million | $10.10 Million | ▲ +33.0% |
| 1995 | 0.14x | $46.20 Million | $6.30 Million | — |