/Waters%20Corp_%20phone%20logo%20and%20site-by%20T_Schneider%20via%20Shutterstock.jpg)
Milford, Massachusetts-based Waters Corporation (WAT) provides analytical workflow solutions. With a market cap of $17.8 billion, the company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.
Shares of this global leader in analytical instrumentation have underperformed the broader market over the past year. WAT has declined 12% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 15.1%. In 2025, WAT stock is down 20.2%, compared to the SPX’s 9.9% rise on a YTD basis.