WatersFRA:WAZ +6.44%92 FCF Margin % is -3.31% as of Mar. 2026. GuruFocus rates FRA:WAZ with a GF Score™ of 92/100 and a GF Value™ of €372.27 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 204 Medical Diagnostics & Research companies, Waters ranks better than 68.14% on this metric.
FCF Margin % is calculated as Free Cash Flow divided by its Revenue. Waters's Free Cash Flow for the
three
months ended in Mar. 2026 was €-36 Mil. Waters's Revenue for the
three
months ended in Mar. 2026 was €1,096 Mil. Therefore, Waters's FCF Margin % for the quarter that ended in Mar. 2026 was -3.31%.
The historical rank and industry rank for Waters's FCF Margin % or its related term are showing as below:
FRA:WAZ'
s FCF Margin % Range Over the Past 10 Years
Min: 6.93 Med: 20.87 Max: 26.29
Current: 6.93
During the past 13 years, the highest FCF Margin % of Waters was 26.29%. The lowest was 6.93%. And the median was 20.87%.
FRA:WAZ's FCF Margin % is ranked better than 68.14% of 204
companies
in the Medical Diagnostics & Research industry
Industry Median: -1.845
vs FRA:WAZ: 6.93
Waters FCF Margin % Related Terms
Waters FCF Margin % Historical Data
* Premium members only.
The historical data trend for Waters's FCF Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Diagnostics & Research subindustry, Waters's FCF Margin %, along with its competitors' market caps and FCF Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Waters FCF Margin % vs Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Waters's FCF Margin % distribution charts can be found below:
* The bar in red indicates where Waters's FCF Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Waters (FRA:WAZ) has a FCF Margin % of -3.31% as of Mar. 2026. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Waters and its competitors. Over the past decade, Waters' FCF Margin % has ranged from 6.93 to 26.29. According to the industry distribution chart, Waters ranks #65 out of 204 companies in the Medical Diagnostics & Research industry, placing it in the top 31.9%.
Is Waters' FCF Margin % too high?
Waters' current FCF Margin % is -3.31%. Over the past 10 years, this metric has ranged from a low of 6.93 to a high of 26.29. Based on the distribution chart, Waters ranks #65 out of 204 companies in the Medical Diagnostics & Research industry, which is above the industry midpoint. Overall, Waters has a GF Score™ of 92/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Waters' FCF Margin % compare to A and NTRA?
According to the Medical Diagnostics & Research industry distribution chart, Waters ranks #65 out of 204 companies for FCF Margin %. This puts Waters in the upper half of its industry. Historically, Waters' own FCF Margin % has ranged from 6.93 to 26.29 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good FCF Margin % for a Medical Diagnostics & Research company?
A good FCF Margin % depends on the Medical Diagnostics & Research industry context. However, FCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high FCF Margin % mean?
A high FCF Margin % can signal that a stock is expensive relative to its fundamentals. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Waters and its competitors. Waters's current FCF Margin % is -3.31%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Waters stock overvalued right now?
Based on GuruFocus' analysis, Waters (FRA:WAZ) is currently considered Modestly Undervalued. The stock's GF Value™ is €372.27, compared to a current price of €330.40 — trading 11.2% below its estimated fair value. The current FCF Margin % is -3.31%. Waters' overall GF Score™ is 92/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is FCF Margin % calculated?
FCF Margin % is calculated from a company's financial statements. For Waters (FRA:WAZ), the current FCF Margin % is -3.31% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Waters (FRA:WAZ) Overvalued in 2026?
Based on GuruFocus' analysis, Waters stock appears to be undervalued.
The current stock price of €330.40 is trading 11.2% below its estimated GF Value™ of €372.27.
GuruFocus considers Waters to be Modestly Undervalued.
Key valuation signals for FRA:WAZ:
FCF Margin %: -3.31%
GF Value™: €372.27 vs. price of €330.40 (11.2% below fair value)
No single metric tells the full story. See the FRA:WAZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Waters sells liquid chromatography, mass spectrometry, and thermal analysis tools. These analytical instruments provide essential information on various products, such as their molecular structures and physical properties, to help clients enhance the health and well-being of end users. In early 2026, Waters merged with BD's life science and diagnostics business, which increased its concentration in diagnostics (versus none now) and discovery-related life science tools.
92GF Score
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FCF Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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