Waters Corporation (WAT) Revenue by Segment
Waters revenue by segment at a glance
In Q2 fiscal 2026 (the quarter ended July 4, 2026), Waters's largest business segment was Waters Analytical and Materials Sciences, with $756.00 million or 46% of revenue, up 6.6% from a year earlier. Next: Waters Advanced Diagnostics (32%) and Waters Biosciences (22%).
By product or service, Consumables brought in 47%, Instrument Systems brought in 28% and Service brought in 26% of revenue in Q2 fiscal 2026.
By region, United States brought in 35%, European Union brought in 31% and Asia Other brought in 15% of revenue in Q2 fiscal 2026.
The fastest-growing business segment from a year earlier was Waters Advanced Diagnostics (+740.3%).
From company filings, in USD; latest quarter ended July 4, 2026; quarterly data from Q3 fiscal 2017.
Waters Corporation
Revenue breakdown
Fiscal quarters, from company filings
Waters revenue by business segment, last 4 quarters
| Business segment | Q2 FY26 | Q1 FY26 | Q2 FY25 | Q1 FY25 | Share |
|---|---|---|---|---|---|
| Waters Analytical and Materials Sciences | $756.0M | $686.0M | $709.0M | $609.0M | 46% |
| Waters Advanced Diagnostics | $521.0M | $349.0M | $62.0M | $53.0M | 32% |
| Waters Biosciences | $368.0M | $232.0M | – | – | 22% |
In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.
Waters revenue by product or service, last 4 quarters
| Product or service | Q2 FY26 | Q1 FY26 | Q3 FY25 | Q2 FY25 | Share |
|---|---|---|---|---|---|
| Consumables | $765.0M | $543.0M | – | $165.0M | 47% |
| Instrument Systems | $455.0M | $376.0M | – | $308.0M | 28% |
| Service | $425.0M | $348.0M | – | $298.0M | 26% |
In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.
Waters revenue by region, last 4 quarters
| Region | Q2 FY26 | Q1 FY26 | Q3 FY25 | Q2 FY25 | Share |
|---|---|---|---|---|---|
| United States | $570.0M | $415.0M | $245.3M | $229.0M | 35% |
| European Union | $505.0M | $412.0M | – | $225.0M | 31% |
| Asia Other | $244.0M | $197.0M | $156.2M | $149.0M | 15% |
| China | $206.0M | $153.0M | $113.5M | $117.0M | 13% |
| Americas Other | $120.0M | $90.0M | $47.6M | $51.0M | 7% |
In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.
Questions and answers
What are Waters's business segments?
Waters Analytical and Materials Sciences, Waters Advanced Diagnostics and Waters Biosciences (as reported for Q2 fiscal 2026).
Which business segment makes the most money for Waters?
Waters Analytical and Materials Sciences: $756.00 million, or 46% of revenue, in Q2 fiscal 2026.
What are Waters's main products and services?
By revenue in Q2 fiscal 2026: Consumables (47%), Instrument Systems (28%) and Service (26%).
Where does Waters make its money?
By region in Q2 fiscal 2026: United States (35%), European Union (31%), Asia Other (15%) and China (13%).
