# WATERS CORP /DE/

Summary updated: 2026-10-02T10:12:14.357228Z
Canonical: https://finbar.com/research/companies/waters-de

## Overview

Waters Corporation is a global life-sciences and analytical-instruments company serving life, materials, and food sciences. Its established business develops and supports chromatography, mass spectrometry, and thermal-analysis systems, along with related software, consumables, and services. Following its February 2026 combination with BD’s Biosciences & Diagnostic Solutions businesses, it also operates in biosciences and diagnostics. [1](https://app.finbar.com/go?id=P76506128)[2](https://app.finbar.com/go?id=P155616375)

The combined company reports three segments: Analytical & Materials Sciences, Biosciences, and Advanced Diagnostics. Its stated purpose is to accelerate the benefits of pioneering science through analytical technologies, informatics, and services. [3](https://app.finbar.com/go?id=T17942761)[4](https://www.waters.com/nextgen/us/en/about-waters.html)

Waters reported $3.165 billion in net sales for FY2025, before the combination; its Q2 2026 report reflects the combined business after closing. [5](https://app.finbar.com/go?id=T1393255)[2](https://app.finbar.com/go?id=P155616375) FY2025 sales spanned Asia ($1.040 billion), the Americas ($1.162 billion), and Europe ($963 million). [6](https://app.finbar.com/go?id=T9505382)[6](https://app.finbar.com/go?id=T9505382)[6](https://app.finbar.com/go?id=T9505382) The company cited approximately 16,000 employees for the combined business. [7](https://ir.waters.com/News--Events/newsroom/news-details/2026/Waters-Completes-Combination-with-BDs-Biosciences--Diagnostic-Solutions-Businesses/)
[1](https://app.finbar.com/go?id=P76506128)[2](https://app.finbar.com/go?id=P155616375)[3](https://app.finbar.com/go?id=T17942761)[5](https://app.finbar.com/go?id=T1393255)[6](https://app.finbar.com/go?id=T9505382)[6](https://app.finbar.com/go?id=T9505382)[6](https://app.finbar.com/go?id=T9505382)[4](https://www.waters.com/nextgen/us/en/about-waters.html)[7](https://ir.waters.com/News--Events/newsroom/news-details/2026/Waters-Completes-Combination-with-BDs-Biosciences--Diagnostic-Solutions-Businesses/)

## Products & services

Waters’ products include HPLC and ultra-performance liquid chromatography (UPLC) systems, liquid chromatography–mass spectrometry (LC-MS) systems, mass spectrometers and detectors, and instruments for thermal analysis, rheometry and calorimetry. The ACQUITY UPLC System uses small-particle column packings and higher operating pressures to support faster separations; the Alliance iS HPLC System includes error detection and troubleshooting features. Its 2025 additions included the Alliance iS Bio HPLC with a photodiode-array detector and the Xevo TQ Absolute XR tandem-quadrupole mass spectrometer, designed for high-throughput, trace-level analysis in complex samples. [2](https://app.finbar.com/go?id=P155616375)[1](https://app.finbar.com/go?id=P76506128)[8](https://www.waters.com/nextgen/us/en/products/mass-spectrometry/mass-spectrometry-systems/liquid-chromatography-ms-systems.html)

Consumables include chromatography columns with silica- or polymer-resin stationary phases, sample-preparation products, standards, reagents, vials and other laboratory supplies. Waters’ software includes Empower Chromatography Software and waters_connect System Monitoring Software, which enables remote, real-time monitoring of supported chromatography instruments. Services include maintenance, repair, instrument qualification, upgrades, spare parts, training and fee-based support plans. [9](https://app.finbar.com/go?id=P51239190)[10](https://app.finbar.com/go?id=P13322618)[11](https://app.finbar.com/go?id=P119285623)[12](https://www.waters.com/nextgen/en/products.html)[13](https://www.waters.com/nextgen/us/en/products/informatics-and-software/chromatography-software/empower-software-solutions.html)[14](https://www.waters.com/nextgen/us/en/services/instrument-services.html)

The portfolio expanded in 2026 following the acquisition of BD’s Biosciences & Diagnostic Solutions business. It includes research instruments, reagents and single-cell multiomics solutions, as well as diagnostic instruments, assays, consumables, automation and informatics. The BD FACSDiscover A7 Cell Analyzer, commercially launched in September 2026, is a spectral flow cytometry system supporting experiments with more than 50 parameters. [15](https://app.finbar.com/go?id=P155616433)[16](https://ir.waters.com/News--Events/newsroom/news-details/2026/Waters-Sets-Benchmark-for-Standardized-Spectral-Flow-Cytometry-with-Commercial-Launch-of-BD-FACSDiscover-A7-Cell-Analyzer/default.aspx)

In fiscal 2025, instrument systems and chemistry consumables represented approximately 34.8% and 20.0% of total net sales, respectively; services represented approximately 37.5% (calculated from reported sales). In the first half of 2026, products were approximately 73.5% of revenue and services 26.5%; that period included the acquired BD business and is not directly comparable with 2025. [5](https://app.finbar.com/go?id=T1393255)[17](https://app.finbar.com/go?id=T17942763)
[2](https://app.finbar.com/go?id=P155616375)[1](https://app.finbar.com/go?id=P76506128)[9](https://app.finbar.com/go?id=P51239190)[10](https://app.finbar.com/go?id=P13322618)[11](https://app.finbar.com/go?id=P119285623)[15](https://app.finbar.com/go?id=P155616433)[5](https://app.finbar.com/go?id=T1393255)[17](https://app.finbar.com/go?id=T17942763)[8](https://www.waters.com/nextgen/us/en/products/mass-spectrometry/mass-spectrometry-systems/liquid-chromatography-ms-systems.html)[12](https://www.waters.com/nextgen/en/products.html)[13](https://www.waters.com/nextgen/us/en/products/informatics-and-software/chromatography-software/empower-software-solutions.html)[14](https://www.waters.com/nextgen/us/en/services/instrument-services.html)[16](https://ir.waters.com/News--Events/newsroom/news-details/2026/Waters-Sets-Benchmark-for-Standardized-Spectral-Flow-Cytometry-with-Commercial-Launch-of-BD-FACSDiscover-A7-Cell-Analyzer/default.aspx)

## Geographic presence

Waters Corporation’s FY2025 sales were distributed across the Americas (36.7%), Asia (32.9%) and Europe (30.4%). The United States accounted for 30.5% of total sales and China for 13.8%; the company reported the remaining sales as Americas Other (6.2%), Asia Other (19.1%) and Europe (30.4%), without further country-level detail for those categories. Percentages are calculated from reported regional sales. [6](https://app.finbar.com/go?id=T9505382)

The company’s headquarters are in Milford, Massachusetts. Its disclosed manufacturing and assembly locations include Milford and Taunton, Massachusetts; Golden, Colorado; and Wexford, Ireland, with Singapore-based contract manufacturing also identified. Research and development locations include Milford, England and New Castle, Delaware. Waters also lists certified sites in several countries, including the United States, Ireland, the United Kingdom, Romania, Japan, the Netherlands, Australia, Brazil, Singapore, China, France, India and Korea; this list is not necessarily a complete inventory of offices or operating sites. [6](https://app.finbar.com/go?id=T9505382)[18](https://ir.waters.com/About/Contact/default.aspx)[19](https://www.waters.com/nextgen/us/en/about-waters/environmental-social-and-governance/quality.html)

Waters disclosed approximately 1,200 R&D employees at year-end 2025 but did not provide a geographic breakdown of its workforce. [6](https://app.finbar.com/go?id=T9505382)
[6](https://app.finbar.com/go?id=T9505382)[18](https://ir.waters.com/About/Contact/default.aspx)[19](https://www.waters.com/nextgen/us/en/about-waters/environmental-social-and-governance/quality.html)

## Business segments

Waters’ FY2025 filing identifies two operating segments, Waters and TA, but aggregates them into one reportable segment because they have similar economic characteristics. The Waters segment designs, manufactures, sells and services liquid chromatography (LC) and mass spectrometry (MS) systems, columns and precision-chemistry consumables; Wyatt is included in Waters. TA focuses on thermal-analysis, rheometry and calorimetry instruments and related services. [20](https://app.finbar.com/go?id=P97287994)

The filing reports consolidated revenue of $3,165.3 million. It does not disclose standalone revenue subtotals for the two operating segments; approximating from disclosed product and service revenue lines, Waters contributed about $2,813.4 million (88.9%) and TA about $351.8 million (11.1%). [5](https://app.finbar.com/go?id=T1393255)[21](https://app.finbar.com/go?id=T4981312)
[20](https://app.finbar.com/go?id=P97287994)[5](https://app.finbar.com/go?id=T1393255)[21](https://app.finbar.com/go?id=T4981312)

## Company history

James “Jim” Waters founded Waters Associates in 1958 in Framingham, Massachusetts. Early milestones included the introduction of its first gel-permeation chromatography system in 1963 and a refractometer for plastics analysis in 1965. Millipore acquired Waters Associates in 1979, and Waters later became independent through a management-led buyout; it went public in 1995. [22](https://ir.waters.com/News--Events/newsroom/news-details/2021/Waters-Corporation-Celebrates-the-Life-and-Legacy-of-its-Founder-Jim-Waters/default.aspx) [23](https://www.waters.com/nextgen/us/en/products/chromatography.html) [4](https://www.waters.com/nextgen/us/en/about-waters.html)

After regaining independence, Waters expanded its portfolio through acquisitions and product development. It acquired TA Instruments in 1996 and Micromass in 1997, broadening its analytical-instrument and mass-spectrometry capabilities. Key technology milestones included the Alliance HPLC System in 1996, Empower software in 2002, and the ACQUITY UPLC System in 2004. [24](https://www.tainstruments.com/about-ta-instruments/) [25](https://media.corporate-ir.net/media_files/irol/77/77764/97_ann_rep/97_ANL_L.HTM) [23](https://www.waters.com/nextgen/us/en/products/chromatography.html)

In 2023, Waters completed its acquisition of Wyatt Technology, adding light-scattering and field-flow-fractionation technologies. It acquired Halo Labs in 2025 and agreed that year to combine with BD’s Biosciences & Diagnostic Solutions businesses; the combination was completed on February 9, 2026. [26](https://ir.waters.com/News--Events/newsroom/news-details/2023/Waters-Corporation-Completes-Acquisition-of-Light-Scattering-Leader-Wyatt-Technology/default.aspx) [27](https://ir.waters.com/News--Events/newsroom/news-details/2025/Waters-Acquires-Halo-Labs-Expanding-Biological-Analysis-Portfolio/default.aspx) [28](https://ir.waters.com/News--Events/newsroom/news-details/2026/Waters-Completes-Combination-with-BDs-Biosciences--Diagnostic-Solutions-Businesses/default.aspx) [29](https://app.finbar.com/go?id=P3468733)
[29](https://app.finbar.com/go?id=P3468733)[22](https://ir.waters.com/News--Events/newsroom/news-details/2021/Waters-Corporation-Celebrates-the-Life-and-Legacy-of-its-Founder-Jim-Waters/default.aspx)[23](https://www.waters.com/nextgen/us/en/products/chromatography.html)[4](https://www.waters.com/nextgen/us/en/about-waters.html)[24](https://www.tainstruments.com/about-ta-instruments/)[25](https://media.corporate-ir.net/media_files/irol/77/77764/97_ann_rep/97_ANL_L.HTM)[26](https://ir.waters.com/News--Events/newsroom/news-details/2023/Waters-Corporation-Completes-Acquisition-of-Light-Scattering-Leader-Wyatt-Technology/default.aspx)[27](https://ir.waters.com/News--Events/newsroom/news-details/2025/Waters-Acquires-Halo-Labs-Expanding-Biological-Analysis-Portfolio/default.aspx)[28](https://ir.waters.com/News--Events/newsroom/news-details/2026/Waters-Completes-Combination-with-BDs-Biosciences--Diagnostic-Solutions-Businesses/default.aspx)

## Sources

1. [WATERS CORP /DE/ — Full financial report (2025 Y)](https://app.finbar.com/go?id=P76506128)
2. [WATERS CORP /DE/ — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P155616375)
3. [WATERS CORP /DE/ — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T17942761)
4. [www.waters.com](https://www.waters.com/nextgen/us/en/about-waters.html)
5. [WATERS CORP /DE/ — Full financial report (2025 Y)](https://app.finbar.com/go?id=T1393255)
6. [WATERS CORP /DE/ — Full financial report (2025 Y)](https://app.finbar.com/go?id=T9505382)
7. [ir.waters.com](https://ir.waters.com/News--Events/newsroom/news-details/2026/Waters-Completes-Combination-with-BDs-Biosciences--Diagnostic-Solutions-Businesses/)
8. [www.waters.com](https://www.waters.com/nextgen/us/en/products/mass-spectrometry/mass-spectrometry-systems/liquid-chromatography-ms-systems.html)
9. [WATERS CORP /DE/ — Full financial report (2025 Y)](https://app.finbar.com/go?id=P51239190)
10. [WATERS CORP /DE/ — Full financial report (2025 Y)](https://app.finbar.com/go?id=P13322618)
11. [WATERS CORP /DE/ — Full financial report (2025 Y)](https://app.finbar.com/go?id=P119285623)
12. [www.waters.com](https://www.waters.com/nextgen/en/products.html)
13. [www.waters.com](https://www.waters.com/nextgen/us/en/products/informatics-and-software/chromatography-software/empower-software-solutions.html)
14. [www.waters.com](https://www.waters.com/nextgen/us/en/services/instrument-services.html)
15. [WATERS CORP /DE/ — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P155616433)
16. [ir.waters.com](https://ir.waters.com/News--Events/newsroom/news-details/2026/Waters-Sets-Benchmark-for-Standardized-Spectral-Flow-Cytometry-with-Commercial-Launch-of-BD-FACSDiscover-A7-Cell-Analyzer/default.aspx)
17. [WATERS CORP /DE/ — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T17942763)
18. [ir.waters.com](https://ir.waters.com/About/Contact/default.aspx)
19. [www.waters.com](https://www.waters.com/nextgen/us/en/about-waters/environmental-social-and-governance/quality.html)
20. [WATERS CORP /DE/ — Full financial report (2025 Y)](https://app.finbar.com/go?id=P97287994)
21. [WATERS CORP /DE/ — Full financial report (2025 Y)](https://app.finbar.com/go?id=T4981312)
22. [ir.waters.com](https://ir.waters.com/News--Events/newsroom/news-details/2021/Waters-Corporation-Celebrates-the-Life-and-Legacy-of-its-Founder-Jim-Waters/default.aspx)
23. [www.waters.com](https://www.waters.com/nextgen/us/en/products/chromatography.html)
24. [www.tainstruments.com](https://www.tainstruments.com/about-ta-instruments/)
25. [media.corporate-ir.net](https://media.corporate-ir.net/media_files/irol/77/77764/97_ann_rep/97_ANL_L.HTM)
26. [ir.waters.com](https://ir.waters.com/News--Events/newsroom/news-details/2023/Waters-Corporation-Completes-Acquisition-of-Light-Scattering-Leader-Wyatt-Technology/default.aspx)
27. [ir.waters.com](https://ir.waters.com/News--Events/newsroom/news-details/2025/Waters-Acquires-Halo-Labs-Expanding-Biological-Analysis-Portfolio/default.aspx)
28. [ir.waters.com](https://ir.waters.com/News--Events/newsroom/news-details/2026/Waters-Completes-Combination-with-BDs-Biosciences--Diagnostic-Solutions-Businesses/default.aspx)
29. [WATERS CORP /DE/ — Full financial report (2025 Y)](https://app.finbar.com/go?id=P3468733)

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