Waters Corp Eyes Acquisition Opportunities Amid Strong Balance Sheet

Waters Corp's President and Chief Executive Officer, Udit Batra, spoke at the JPMorgan U.S. All Stars Conference on September 23, 2026. He emphasized the company's focus on tuck-in size acquisitions.

Batra highlighted that Waters Corp would prioritize returning capital to shareholders through dividend payments and share repurchases.

He mentioned that the company has a strong balance sheet, with over 75% of free cash flow committed to funding these initiatives.

The debt-to-EBITDA ratio is currently around 2.5 times, which gives Waters Corp significant capacity for future acquisitions.