Waters Corporation (WAT) Stock Buyback History
TTM buyback yield 0.05% · Shareholder yield (TTM) 0.05%.
TTM buyback yield
0.05%
Shareholder yield (TTM)
0.05%
5Y share count change
-4.3%
TTM buyback spend
$12.73M
SBC coverage (TTM)
0.21x
YoY change in spend
+8.3%
5Y CAGR of spend
-40.5%
Peak year (2019)
$2.47B
Cumulative spend
$10.17B
TTM metrics calculated from the four most recent reported quarters, ending (reported ).
Key takeaways
- Waters Corporation (WAT) repurchased about $12.73M of stock over the trailing twelve months.
- Diluted share count is down 4.3% over the last ~5 fiscal years — buybacks are net-shrinking the share base.
- TTM buyback ÷ stock-based-comp ratio of 0.21× — repurchases only partially offset SBC dilution.
- Cash buyback spend has compounded at -40.5% per year over the latest 5-year window.
- TTM repurchases used about 5% of free cash flow remaining after dividends.
Buyback context per fiscal year
Annual repurchases alongside stock-based compensation, diluted share count and the year-over-year change — useful for SBC-coverage and dilution-offset reading at a glance.
| Year | Buybacks | SBC | Net | Shares (dil.) | YoY shares | Buyback yield |
|---|---|---|---|---|---|---|
| 2025 | $14.67M | $54.13M | −$39.46M | 0.06B | 0.3% | 0.06% |
| 2024 | $13.54M | $44.71M | −$31.17M | 0.06B | 0.5% | 0.06% |
| 2023 | $70.28M | $36.87M | $33.41M | 0.06B | -1.8% | 0.36% |
| 2022 | $626.06M | $42.56M | $583.50M | 0.06B | -2.7% | 3.08% |
| 2021 | $648.93M | $29.92M | $619.01M | 0.06B | -0.6% | 2.86% |
| 2020 | $196.41M | $36.87M | $159.54M | 0.06B | -8.4% | 1.28% |
| 2019 | $2.47B | $38.58M | $2.43B | 0.07B | -12.2% | 16.57% |
| 2018 | $1.32B | $37.54M | $1.28B | 0.08B | -3.7% | 9.32% |
| 2017 | $332.54M | $39.44M | $293.11M | 0.08B | -1.0% | 2.17% |
| 2016 | $325.76M | $41.00M | $284.76M | 0.08B | -2.0% | 3.02% |
| 2015 | $334.70M | $33.37M | $301.34M | 0.08B | -2.4% | 3.05% |
| 2014 | $337.44M | $33.00M | $304.45M | 0.09B | -1.6% | 3.60% |
| 2013 | $301.58M | $31.71M | $269.87M | 0.09B | -2.7% | 3.55% |
| 2012 | $295.88M | $29.18M | $266.69M | 0.09B | -3.6% | 3.92% |
| 2011 | $370.83M | $27.58M | $343.26M | 0.09B | -1.8% | 5.63% |
| 2010 | $296.29M | $24.85M | $271.44M | 0.09B | -2.9% | 4.16% |
| 2009 | $211.38M | $28.25M | $183.12M | 0.10B | -3.7% | 3.64% |
| 2008 | $237.50M | $30.78M | $206.72M | 0.10B | -1.9% | 6.66% |
| 2007 | $200.65M | $28.86M | $171.79M | 0.10B | -1.7% | 2.53% |
| 2006 | $249.20M | $28.81M | $220.39M | 0.10B | -10.1% | 5.02% |
| 2005 | $659.28M | $0.00 | $659.28M | 0.12B | -5.8% | 16.68% |
| 2004 | $231.29M | $0.00 | $231.29M | 0.12B | -3.5% | 4.16% |
| 2003 | $324.58M | $0.00 | $324.58M | 0.13B | -6.0% | 8.14% |
| 2002 | $99.30M | $0.00 | $99.30M | 0.14B | -1.3% | 3.61% |
| 2001 | $0.00 | $0.00 | $0.00 | 0.14B | 0.6% | — |
| 2000 | $0.00 | $0.00 | $0.00 | 0.14B | 3.1% | — |
| 1999 | $9.50M | $0.00 | $9.50M | 0.13B | 10.8% | — |
| 1998 | $0.00 | $0.00 | $0.00 | 0.12B | 2.8% | — |
| 1997 | $0.00 | $0.00 | $0.00 | 0.12B | -2.9% | — |
| 1996 | $0.00 | $0.00 | $0.00 | 0.12B | — | — |
| 1995 | $0.00 | $0.00 | $0.00 | — | — | — |
Cash buyback spend (USD) — annual & quarterly history
Trailing-twelve-month and per-period cash repurchases for Waters Corporation (WAT) from the consolidated cash flow statement (line: common stock repurchased), in USD as filed.
Cash buyback spend over time for Waters Corporation (WAT)
Per-period cash repurchases
Cash buyback spend annual + quarterly history for Waters Corporation (WAT)
| Fiscal year | Period ended | Reported | Buyback Spend | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $14.67M | +8.3% | +$1.13M | ||
| 2024 | $13.54M | -80.7% | -$56.74M | ||
| 2023 | $70.28M | -88.8% | -$555.78M | ||
| 2022 | $626.06M | -3.5% | -$22.87M | ||
| 2021 | $648.93M | +230.4% | +$452.52M | ||
| 2020 | $196.41M | -92.0% | -$2.27B | ||
| 2019 | $2.47B | +87.8% | +$1.15B | ||
| 2018 | $1.32B | +295.5% | +$982.56M | ||
| 2017 | $332.54M | +2.1% | +$6.79M | ||
| 2016 | $325.76M | -2.7% | -$8.95M | ||
| 2015 | $334.70M | -0.8% | -$2.74M | ||
| 2014 | $337.44M | +11.9% | +$35.86M | ||
| 2013 | $301.58M | +1.9% | +$5.70M | ||
| 2012 | $295.88M | -20.2% | -$74.96M | ||
| 2011 | $370.83M | +25.2% | +$74.54M | ||
| 2010 | $296.29M | +40.2% | +$84.92M | ||
| 2009 | $211.38M | -11.0% | -$26.12M | ||
| 2008 | $237.50M | +18.4% | +$36.85M | ||
| 2007 | $200.65M | -19.5% | -$48.55M | ||
| 2006 | $249.20M | -62.2% | -$410.08M | ||
| 2005 | $659.28M | +185.1% | +$428.00M | ||
| 2004 | $231.29M | -28.7% | -$93.29M | ||
| 2003 | $324.58M | +226.9% | +$225.28M | ||
| 2002 | $99.30M | — | +$99.30M | ||
| 2001 | $0 | — | $0 | ||
| 2000 | $0 | -100.0% | -$9.50M | ||
| 1999 | $9.50M | — | +$9.50M | ||
| 1998 | $0 | — | $0 | ||
| 1997 | $0 | — | $0 | ||
| 1996 | $0 | — | $0 | ||
| 1995 | $0 | — | — |
2025's annual buyback spend for Waters Corporation (WAT) came in at $14.67M – grew 8.3% year-over-year.
Looking at the 2020–2025 (5 years) stretch, Waters Corporation buyback spend compounded at -40.5% per year, with a net decline across the window.
Waters Corporation buyback spend plunged from $2.47B in 2019 to $14.67M in 2025, a 99.4% drawdown.
2019 marks the peak buyback spend at $2.47B, with the historical low of $0 recorded in 1995.
Within Healthcare, Waters Corporation (WAT) ranks 8th among 8 peers we track. The peer median for buyback spend is $2.75B.
Waters Corporation Buyback Spend 2025: $14.67M
Waters Corporation buyback spend in 2025 was $14.67M, grew 8.3% from 2024.
Waters Corporation Buyback Spend 2024: $13.54M
Waters Corporation buyback spend in 2024 was $13.54M, plunged 80.7% below 2023.
Waters Corporation Buyback Spend 2023: $70.28M
Waters Corporation buyback spend in 2023 was $70.28M, plunged 88.8% below 2022.
Waters Corporation Buyback Spend 2022: $626.06M
Waters Corporation buyback spend in 2022 was $626.06M, edged down 3.5% below 2021.
Waters Corporation Buyback Spend 2021: $648.93M
Waters Corporation buyback spend in 2021 was $648.93M.
See more financial history for Waters Corporation (WAT).
Sector peers by buyback spend
Companies in the same sector as Waters Corporation, ranked by their latest buyback spend.
| Company | Buyback Spend | Sector |
|---|---|---|
| Johnson & Johnson (JNJ) | $5.95B | Healthcare |
| UnitedHealth Group (UNH) | $5.54B | Healthcare |
| Merck & Co. (MRK) | $5.08B | Healthcare |
| Eli Lilly (LLY) | $4.11B | Healthcare |
| Novo Nordisk (NVO) | $1.39B | Healthcare |
| AbbVie (ABBV) | $980.00M | Healthcare |
| AstraZeneca (AZN) | $719.66M | Healthcare |
| Amgen (AMGN) | $0 | Healthcare |
Share count history
Diluted weighted-average shares drive the EPS denominator and per-share capital-return maths. A falling diluted share count means buybacks are outpacing dilution from stock-based compensation and option exercises.
Diluted vs basic shares (annual)
Year-over-year change in diluted shares
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Dividend & buyback yield over time
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Buybacks vs stock-based compensation
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 0.21×.
Capital allocation mix
How Waters Corporation splits cash returned to shareholders between dividends and buybacks, plus the headroom on free cash flow that's still available for additional repurchases.
Buybacks vs dividends (share of cash returned)
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $264.00M (TTM FCF − TTM dividends, clamped at zero).
Data & methodology
Where do buyback, dividend and compensation figures come from?
Cash buyback spend (common stock repurchased), dividends paid and stock-based compensation come from Waters Corporation's consolidated cash flow statements — quarterly 10-Q and annual 10-K SEC filings, in USD as reported.
How are diluted shares and yields calculated?
Diluted weighted-average share counts come from the income statement (EPS denominator). Trailing twelve-month (TTM) aggregates sum the four most recent reported quarters. Buyback and dividend yields divide TTM cash flows by market capitalisation at the latest quarter-end.
How is buyback capacity defined?
Capacity compares TTM repurchases to free cash flow after dividends: operating cash flow minus capital expenditure, minus dividends paid, versus actual buybacks over the same trailing window.
Is this investment advice?
No. Figures are for informational and educational use only. Past buybacks and dividends do not predict future returns.
Frequently asked questions
Does Waters Corporation buy back its own stock?
Yes, Waters Corporation (WAT) has repurchased shares in recent periods. See the history table and charts on this page for amounts and trends.
How much does Waters Corporation spend on share buybacks?
Trailing twelve months (TTM) buyback spend is about $12.73M (sum of the last four quarterly cash-flow periods in our data). Figures are illustrative; verify in filings.
What is Waters Corporation's buyback yield?
TTM buyback yield is about 0.05% (TTM buyback spend divided by market cap at the latest quarter-end in our data).
What is Waters Corporation's shareholder yield?
Shareholder yield combines dividend yield and buyback yield. For the latest period we show approximately 0.05% combined (TTM-based where available).
Is Waters Corporation diluting shareholders?
Compare stock-based compensation (SBC) to buybacks in the chart above. Net effect varies by year; see annual buyback vs SBC bars and the history table.
How has Waters Corporation's share count changed?
Diluted weighted average shares changed by about -4.3% over roughly five fiscal years (annual income statement data).
What is Waters Corporation's buyback spend?
Latest reported buyback spend for Waters Corporation (WAT) is $12.73M (period ending April 4, 2026).
How has Waters Corporation buyback spend changed year-over-year?
Waters Corporation (WAT) buyback spend changed +8.3% year-over-year on the latest annual filing.
What is the long-term growth rate of Waters Corporation buyback spend?
Waters Corporation (WAT) buyback spend compound annual growth rate is -40.5% over the most recent 5 years available.
When did Waters Corporation buyback spend hit its highest annual value?
Waters Corporation buyback spend reached its highest annual value of $2.47B in 2019.
What was Waters Corporation buyback spend in 2024?
Waters Corporation (WAT) buyback spend in 2024 was $13.54M.
What was Waters Corporation buyback spend in 2025?
Waters Corporation (WAT) buyback spend in 2025 was $14.67M.
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