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 conversion to assess how effectively this company generates cash.
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 total reinvestment intensity of Waters Corporation to assess the company's total reinvestment commitment from operating cash flow.
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 market cap of 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 | — |