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Waters Corp
WAT : NYSE : Health Care
$115.47 | %
Today's Range: 115.00 - 117.33
Avg. Daily Volume: 552,500
02/05/16 - 4:02 PM ET

Financial Analysis


WATERS CORP's gross profit margin for the fourth quarter of its fiscal year 2015 has decreased when compared to the same period a year ago. Even though sales increased, the net income has decreased.

During the same period, stockholders' equity ("net worth") has increased by 8.66% from the same quarter last year.

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Income Statement Q4 FY15 Q4 FY14
Net Sales ($mil)586.61583.87
EBITDA ($mil)0.0219.03
EBIT ($mil)191.54190.64
Net Income ($mil)151.05151.29


Balance Sheet Q4 FY15 Q4 FY14
Cash & Equiv. ($mil)2399.262055.39
Total Assets ($mil)4261.153877.93
Total Debt ($mil)1668.341465.24
Equity ($mil)2058.851894.67


Profitability Q4 FY15 Q4 FY14
Gross Profit Margin59.064.49
EBITDA Margin0.037.51
Operating Margin32.6532.65
Sales Turnover0.480.51
Return on Assets11.011.13
Return on Equity22.7822.78
Debt Q4 FY15 Q4 FY14
Current Ratio0.04.91
Debt/Capital0.450.44
Interest Expense0.09.67
Interest Coverage0.019.72


Share Data Q4 FY15 Q4 FY14
Shares outstanding (mil)81.6583.15
Div / share0.00.0
EPS1.831.8
Book value / share25.2122.79
Institutional Own % n/a n/a
Avg Daily Volume536778.0490876.0

Valuation


BUY. The current P/E ratio indicates a significant discount compared to an average of 33.99 for the Life Sciences Tools & Services industry and a value on par with the S&P 500 average of 20.88. For additional comparison, its price-to-book ratio of 4.66 indicates a significant premium versus the S&P 500 average of 2.48 and a discount versus the industry average of 5.10. The price-to-sales ratio is well above the S&P 500 average, but well below the industry average. Upon assessment of these and other key valuation criteria, WATERS CORP proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
WAT 20.79 Peers 33.99   WAT NA Peers 22.47

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

WAT is trading at a significant discount to its peers.

 

Neutral. The P/CF ratio is the stock’s price divided by the sum of the company's cash flow from operations. It is useful for comparing companies with different capital requirements or financing structures.

Ratio not available.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
WAT 17.15 Peers 23.30   WAT 0.88 Peers 0.80

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

WAT is trading at a discount to its peers.

 

Average. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

WAT trades at a valuation on par to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
WAT 4.66 Peers 5.10   WAT 11.00 Peers 66.32

Average. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

WAT is trading at a valuation on par with its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, WAT is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
WAT 4.70 Peers 18.39   WAT 2.66 Peers 20.93

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

WAT is trading at a significant discount to its industry on this measurement.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

WAT significantly trails its peers on the basis of sales growth

 

 

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