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Agilent Technologies vs Waters: A and WAT compared
Agilent Technologies is the larger company: $1.9B of revenue in its latest quarter (Q3 FY26) against $1.8B for Waters (Q3 2026). Waters is growing faster (+121% against +8% a year earlier). Agilent Technologies is more profitable, with an operating margin of 23.6% against 7.2%.
Where the money goes: A and WAT
Agilent Technologies (A) · Q3 FY26
Agilent Technologies, Q3 FY26: revenue $1.9B (+8% year over year), operating margin 23.6%, net earnings $362M, operating cash flow $519M. The chart follows the revenue to costs, profit and cash.
Waters (WAT) · Q3 2026
Waters, Q3 2026: revenue $1.8B (+121% year over year), operating margin 7.2%, net earnings $81.0M, operating cash flow $98.0M. The chart follows the revenue to costs, profit and cash.
| Agilent Technologies (A) | Waters (WAT) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q3 2026 |
| Revenue | $1.9B | $1.8B |
| Revenue growth, Y/Y | +8% | +121% |
| Operating margin | 23.6% | 7.2% |
| Net earnings | $362M | $81.0M |
| Net margin | 19.3% | 4.6% |
| Operating cash flow | $519M | $98.0M |
| Free cash flow | $439M | $55.0M |
| Market value | $49.5B | $45.0B |
| P/E | 34.3× | — |
| Analysts’ mean target | $182.05 | $474.73 |
Where the revenue comes from
Agilent Technologies
- Agilent CrossLab: $786M (42%)
- Life Sciences and Diagnostics Markets: $746M (40%)
- Applied Markets: $346M (18%)
Waters
- Product: $1.3B (75%)
- Service: $433M (25%)
Questions
Which is bigger, Agilent Technologies or Waters?
Agilent Technologies is the larger company: $1.9B of revenue in its latest quarter (Q3 FY26) against $1.8B for Waters (Q3 2026).
Is Agilent Technologies or Waters growing faster?
Waters is growing faster (+121% against +8% a year earlier).
Which is more profitable, Agilent Technologies or Waters?
Agilent Technologies is more profitable, with an operating margin of 23.6% against 7.2%.
More: Agilent Technologies earnings · how Agilent Technologies makes money · Waters earnings · how Waters makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Sep 1, 2026; 8-K filed Nov 3, 2026). Fiscal quarters can end on different dates. Not investment advice.