WAT
Waters Corporation Healthcare - Diagnostics & Research Investor Relations →
Waters Corporation (WAT) closed at $298.99 as of 2026-03-20, trading 8.2% below its 200-week moving average of $325.62. This places WAT in the deep value zone. The stock moved further from the line this week, up from -12.0% last week. With a 14-week RSI of 29, WAT is in oversold territory.
Over the past 14 weeks, down-weeks have had more trading volume than up-weeks (0.67 buyers-vs-sellers ratio). That means when people are active, they're more often selling than buying. Sellers are still more in control than buyers.
Over the past 1535 weeks of data, WAT has crossed below its 200-week moving average 17 times. On average, these episodes lasted 15 weeks. Historically, investors who bought WAT at the start of these episodes saw an average one-year return of +27.1%.
With a market cap of $29.3 billion, WAT is a large-cap stock. The company generates a free cash flow yield of 1.5%. Return on equity stands at 29.3%, indicating strong profitability. The stock trades at 7.0x book value.
Over the past 29.5 years, a hypothetical investment of $100 in WAT would have grown to $3889, compared to $1523 for the S&P 500. That represents an annualized return of 13.2% vs 9.7% for the index — confirming WAT as a market-beating investment and the kind of quality company where buying during 200-week moving average touches has historically been rewarded.
Free cash flow has been growing at a 8% compound annual rate, with 4 consecutive years of positive cash generation. A business generating more cash every year while trading below its 200-week moving average is exactly the kind of disconnect value investors look for.
Business Health
Annual financials — how the underlying business has performed over the past several years.
Cash Flow Free cash flow & net income ($M)
Revenue Annual revenue ($M) — business growth proxy
Total Debt Balance sheet debt ($M)
ROIC Return on invested capital (%)
FCF Yield Free cash flow / market cap (%) — Yartseva signal
Gross Margin Pricing power & competitive moat (%)
Shares Outstanding Buybacks vs dilution (millions)
Growth of $100: WAT vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After WAT Crosses Below the Line?
Across 16 historical episodes, buying WAT when it crossed below its 200-week moving average produced an average return of +24.8% after 12 months (median +21.0%), compared to +16.5% for the S&P 500 over the same periods. 67% of those episodes were profitable after one year. After 24 months, the average return was +50.9% vs +28.6% for the index.
Each line shows $100 invested at the moment WAT crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Historical Touches
WAT has crossed below its 200-week MA 17 times with an average 1-year return of +27.1% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Apr 1997 | Apr 1997 | 2 | 8.1% | +106.8% | +4707.9% |
| Jun 2001 | Sep 2001 | 14 | 29.7% | -19.4% | +925.7% |
| Oct 2001 | Nov 2001 | 3 | 1.7% | -23.6% | +754.3% |
| Dec 2001 | Dec 2001 | 1 | 2.2% | -43.8% | +734.0% |
| Jan 2002 | Mar 2004 | 113 | 51.7% | -37.9% | +782.0% |
| Oct 2008 | Sep 2009 | 48 | 38.8% | +26.4% | +554.4% |
| Mar 2020 | Apr 2020 | 4 | 8.9% | +45.7% | +62.1% |
| Apr 2020 | May 2020 | 5 | 7.3% | +60.2% | +56.3% |
| Jun 2020 | Jul 2020 | 5 | 9.6% | +81.4% | +61.1% |
| Sep 2020 | Oct 2020 | 3 | 3.1% | +102.9% | +53.0% |
| May 2023 | Jul 2023 | 10 | 11.8% | +29.6% | +10.3% |
| Aug 2023 | Nov 2023 | 15 | 14.9% | +25.9% | +10.7% |
| Apr 2024 | Apr 2024 | 1 | 1.9% | +8.4% | +1.0% |
| Jun 2024 | Jul 2024 | 7 | 7.0% | +16.2% | -1.0% |
| Mar 2025 | Apr 2025 | 3 | 2.0% | N/A | -8.0% |
| Jul 2025 | Sep 2025 | 11 | 13.0% | N/A | +4.0% |
| Feb 2026 | Ongoing | 6+ | 12.0% | Ongoing | -7.5% |
| Average | 15 | — | +27.1% | — |
Frequently Asked Questions
Is WAT below its 200-week moving average?
Yes. As of 2026-03-20, Waters Corporation (WAT) is trading 8.2% below its 200-week moving average of $325.62. The current price is $298.99.
What is WAT's 200-week moving average price?
Waters Corporation's 200-week moving average is $325.62 as of 2026-03-20. This is the average weekly closing price over roughly the last 4 years, and it acts as a long-term trend line. When a stock drops below this level, it can signal that the price has fallen far enough from the long-term trend to attract value-oriented investors.
What happens when WAT drops below its 200-week moving average?
WAT has crossed below its 200-week moving average 17 times in our data. On average, buying at that moment produced a one-year return of +27.1%. These dips have historically been decent entry points. These episodes lasted 15 weeks on average.
Is WAT a good value right now?
Here's what our data says about WAT as of 2026-03-20: The stock is below its 200-week moving average, which is the starting point for our analysis. The 14-week RSI is 29 (oversold). Free cash flow yield is 1.5%. Return on equity is 29.3%. Price-to-book is 7.0x. This is not a buy or sell recommendation — always do your own research.
How does WAT compare to the S&P 500?
Over the past 29.5 years, $100 invested in WAT would have grown to $3889, compared to $1523 for the S&P 500. That's 13.2% annualized vs 9.7% for the index. WAT has outperformed the broader market over this period.
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of week of 2026-03-20