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 long-term investments to assets to see how much of total assets are deployed in long-term investments.
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. Check tangible equity quality of Waters Corporation to evaluate the tangible quality of the company's equity base.
Annual Cash Flow Quality Index for Waters Corporation (1995–2025)
Year-by-year earnings quality comparison for Waters Corporation. For live market cap and the full company financial profile, see Waters Corporation stock valuation.
| 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 | — |