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How Waters Corporation makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$3.2B · 100%Cost of revenue$1.3B · 41%Gross profit$1.9B · 59%Operating income$803M · 25%Income before tax$755M · 24%Income tax$112M · 4%Net income$643M · 20%As of 2025-12-31 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$3.2B100%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-062604 · filed Feb 23, 2026
Cost of revenue$1.3B41%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-062604 · filed Feb 23, 2026
$1.9B59%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-062604 · filed Feb 23, 2026
$803M25%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-062604 · filed Feb 23, 2026
Income before tax$755M24%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-062604 · filed Feb 23, 2026
Income tax$112M4%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-062604 · filed Feb 23, 2026
$643M20%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-062604 · filed Feb 23, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-062604 · filed Feb 23, 2026
· event Dec 31, 2025 · retrieved Oct 15, 2026 · annual-row source set
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