WatersWAT -1.46%92 PEG Ratio is 4.94 as of Jun. 29, 2026, which is 78% above its 10-year median of 2.78. GuruFocus rates WAT with a GF Score™ of 92/100 and a GF Value™ of $417.45 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 36 Medical Diagnostics & Research companies, Waters ranks worse than 75% on this metric.
PE Ratio without NRI / 5-Year EBITDA Growth Rate*
PEG Ratio is defined as the PE Ratio without NRI divided by the growth ratio. The growth rate we use is the 5-Year EBITDA growth rate. As of today, Waters's PE Ratio without NRI is 27.17. Waters's 5-Year EBITDA growth rate is 5.50%. Therefore, Waters's PEG Ratio for today is 4.94.
* The 5-Year EBITDA Growth Rate is the 5-year average EBITDA per share growth rate. While the denominator is a percentage, we use the whole number as opposed to the decimal form for the calculation. For example, 5% would be shown as 5 as opposed to 0.05. If it's smaller than or equal to 0, then the PEG Ratio is not calculated.
The historical rank and industry rank for Waters's PEG Ratio or its related term are showing as below:
WAT'
s PEG Ratio Range Over the Past 10 Years
Min: 1.79 Med: 2.78 Max: 11.87
Current: 4.94
During the past 13 years, Waters's highest PEG Ratio was 11.87. The lowest was 1.79. And the median was 2.78.
WAT's PEG Ratio is ranked worse than 75% of 36
companies
in the Medical Diagnostics & Research industry
Industry Median: 2.27
vs WAT: 4.94
Peter Lynch thinks a company with a P/E ratio equal to its growth rate is fairly valued.
Waters (NYSE:WAT) PEG Ratio Explanation
To compare stocks with different growth rates, Peter Lynch invented a ratio called PEG Ratio. PEG Ratio is defined as the P/E ratio divided by the growth ratio. He thinks a company with a P/E ratio equal to its growth rate is fairly valued. Still he said he would rather buy a company growing 20% a year with a P/E of 20, instead of a company growing 10% a year with a P/E of 10.
Waters PEG Ratio Related Terms
Waters PEG Ratio Historical Data
* Premium members only.
The historical data trend for Waters's PEG Ratio 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 PEG Ratio, along with its competitors' market caps and PEG Ratio 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 PEG Ratio vs Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Waters's PEG Ratio distribution charts can be found below:
* The bar in red indicates where Waters's PEG Ratio 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.
* Note: The 5-Year EBITDA Growth Rate is the 5-year average EBITDA per share growth rate. While the denominator is a percentage, we use the whole number as opposed to the decimal form for the calculation. For example, 5% would be shown as 5 as opposed to 0.05. If it's smaller than or equal to 0, then the PEG Ratio is not calculated.
Waters (WAT) has a PEG Ratio of 4.94 as of Jun. 29, 2026. Price-earnings to growth ratio is the ratio of price-earnings to a company's earnings growth rate. View historical data on Waters and its competitors. This is 78% above median its historical median of 2.78. Over the past decade, Waters' PEG Ratio has ranged from 1.79 to 11.87. According to the industry distribution chart, Waters ranks #27 out of 36 companies in the Medical Diagnostics & Research industry, placing it in the top 75%.
Is Waters' PEG Ratio too high?
Waters' current PEG Ratio of 4.94 is 78% above median its 10-year median of 2.78. Over the past 10 years, this metric has ranged from a low of 1.79 to a high of 11.87. The Medical Diagnostics & Research industry median PEG Ratio is 2.27. Waters' value of 4.94 is 117.6% above this industry median. Based on the distribution chart, Waters ranks #27 out of 36 companies in the Medical Diagnostics & Research industry, which is below 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' PEG Ratio compare to NTRA and A?
According to the Medical Diagnostics & Research industry distribution chart, Waters ranks #27 out of 36 companies for PEG Ratio. This places Waters in the lower half of its industry. The industry median PEG Ratio is 2.27. Waters' value of 4.94 is 117.6% above this benchmark. Historically, Waters' own PEG Ratio has ranged from 1.79 to 11.87 over the past decade. While the company's 10-year median is 2.78 vs. the industry median of 2.27, Waters has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PEG Ratio for a Medical Diagnostics & Research company?
The median PEG Ratio among Medical Diagnostics & Research companies is 2.27, based on 36 companies in the industry. Companies in the top quartile (top 25%) have a PEG Ratio significantly above this median, while those in the bottom quartile fall well below. However, PEG Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Waters's current PEG Ratio of 4.94 is 117.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PEG Ratio mean?
A high PEG Ratio can signal that a stock is expensive relative to its fundamentals. Price-earnings to growth ratio is the ratio of price-earnings to a company's earnings growth rate. View historical data on Waters and its competitors. For the Medical Diagnostics & Research industry, the median PEG Ratio is 2.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Waters's current PEG Ratio is 4.94, which is 78% above median its own 10-year median of 2.78. 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 (WAT) is currently considered Modestly Undervalued. The stock's GF Value™ is $417.45, compared to a current price of $368.94 — trading 11.6% below its estimated fair value. The current PEG Ratio is 4.94, which is 78% above median its 10-year median of 2.78 and 117.6% above the Medical Diagnostics & Research industry median of 2.27. 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 PEG Ratio calculated?
PEG Ratio is calculated from a company's financial statements. For Waters (WAT), the current PEG Ratio is 4.94 as of Jun. 29, 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 (WAT) Overvalued in 2026?
Based on GuruFocus' analysis, Waters stock appears to be undervalued.
The current stock price of $368.94 is trading 11.6% below its estimated GF Value™ of $417.45.
GuruFocus considers Waters to be Modestly Undervalued.
Key valuation signals for WAT:
PEG Ratio: 4.94 (78% above median its 10-year median of 2.78)
GF Value™: $417.45 vs. price of $368.94 (11.6% below fair value)
Industry Position: 117.6% above the Medical Diagnostics & Research median (#27 of 36)
No single metric tells the full story. See the WAT 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.
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