Waters Corporation (WAT) — Cash Flow Quality Index
Waters Corporation (WAT) has a Cash Flow Quality Index of 0.73x as of December 2025. Operating cash flow of $164.55 Million is below net income of $225.21 Million, suggesting accrual-heavy earnings not yet converted to cash. Explore WAT cash flow to debt ratio to assess how comfortably operating cash covers total debt obligations.
Cash Flow Quality Index
Operating Cash Flow
Net Income
Data as of
Waters Corporation Cash Flow Quality Index (1995–2025)
Historical Cash Flow Quality Index for Waters Corporation across 30 annual periods. Values consistently above 1.0x indicate high-quality earnings. For the full cash flow conversion analysis, see how efficiently does Waters Corporation generate cash.
Annual Cash Flow Quality Index for Waters Corporation (1995–2025)
Year-by-year earnings quality comparison for Waters Corporation.
| Year | Quality Index | Operating CF (USD) | Net Income | YoY Change |
|---|---|---|---|---|
| 2025 | 1.02x | $652.55 Million | $642.63 Million | ▼ -15.0% |
| 2024 | 1.19x | $762.12 Million | $637.83 Million | ▲ +27.3% |
| 2023 | 0.94x | $602.81 Million | $642.23 Million | ▲ +8.6% |
| 2022 | 0.86x | $611.66 Million | $707.75 Million | ▼ -19.9% |
| 2021 | 1.08x | $747.27 Million | $692.84 Million | ▼ -28.8% |
| 2020 | 1.52x | $790.51 Million | $521.57 Million | ▲ +39.6% |
| 2019 | 1.09x | $643.09 Million | $592.20 Million | ▲ +6.7% |
| 2018 | 1.02x | $604.45 Million | $593.79 Million | ▼ -97.0% |
| 2017 | 34.35x | $697.64 Million | $20.31 Million | ▲ +2747.4% |
| 2016 | 1.21x | $629.08 Million | $521.50 Million | ▲ +1.0% |
| 2015 | 1.19x | $560.29 Million | $469.05 Million | ▲ +0.8% |
| 2014 | 1.19x | $511.65 Million | $431.62 Million | ▲ +10.0% |
| 2013 | 1.08x | $484.88 Million | $450.00 Million | ▲ +10.7% |
| 2012 | 0.97x | $449.28 Million | $461.44 Million | ▼ -15.2% |
| 2011 | 1.15x | $497.37 Million | $432.97 Million | ▼ -4.2% |
| 2010 | 1.20x | $457.86 Million | $381.76 Million | ▼ -7.3% |
| 2009 | 1.29x | $418.26 Million | $323.31 Million | ▼ -0.3% |
| 2008 | 1.30x | $418.25 Million | $322.48 Million | ▼ -6.2% |
| 2007 | 1.38x | $370.51 Million | $268.07 Million | ▲ +16.5% |
| 2006 | 1.19x | $263.59 Million | $222.20 Million | ▼ -19.6% |
| 2005 | 1.48x | $298.07 Million | $201.97 Million | ▲ +27.4% |
| 2004 | 1.16x | $259.45 Million | $224.05 Million | ▲ +26.0% |
| 2003 | 0.92x | $157.00 Million | $170.89 Million | ▼ -38.2% |
| 2002 | 1.49x | $219.65 Million | $147.71 Million | ▼ -10.0% |
| 2001 | 1.65x | $189.15 Million | $114.54 Million | ▲ +46.8% |
| 2000 | 1.12x | $175.59 Million | $156.11 Million | ▼ -8.4% |
| 1999 | 1.23x | $150.20 Million | $122.30 Million | ▼ -17.1% |
| 1998 | 1.48x | $110.20 Million | $74.40 Million | ▼ -47.1% |
| 1996 | 2.80x | $55.70 Million | $19.90 Million | ▼ -14.6% |
| 1995 | 3.28x | $46.20 Million | $14.10 Million | — |