Is Waters Corp. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Waters Corp. has moved from expensive to attractive, indicating a shift towards a more favorable assessment. The company appears to be undervalued based on its current metrics. Key ratios include a P/E ratio of 85, an EV to EBITDA of 54.96, and a PEG ratio of 11.06, which suggest that despite the attractive valuation grade, the company is still trading at a premium compared to its peers.
In comparison to its peers, Waters Corp. has a P/E ratio significantly higher than ResMed, Inc. at 37.73 and Agilent Technologies, Inc. at 27.42, indicating that it may be overvalued relative to these companies. However, its EV to EBITDA ratio is better than Mettler-Toledo International, Inc., which stands at 47.45. Over the past year, Waters Corp. has underperformed against the S&P 500, with a return of -3.66% compared to the index's 14.08%, highlighting potential concerns regarding its current valuation.