Revvity, Inc. (RVTY)
Revvity provides diagnostics, life-sciences reagents, and instruments for research and clinical testing.
RVTY vs WAT: how the two businesses compare
- Bigger business: WAT, with $3.2B of yearly revenue, about 1.1× RVTY's $2.9B.
- More profitable: WAT keeps 20 cents of each sales dollar as profit, against 8 cents at RVTY.
- More cash from each sale: WAT turns 21 cents of each sales dollar into operating cash flow, against 20 cents at RVTY.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Waters (WAT) is the larger business by reported revenue: $3.2B in its fiscal year ended Dec 2025, about 1.1× RVTY's $2.9B (fiscal year ended Dec 2025). RVTY's net margin was 8.4% and WAT's 20.3%. Both file with the SEC under the same industry code, SIC 3826 (Laboratory Analytical Instruments).
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Health Care
- Laboratory Analytical Instruments
- Same classification
- Different
- RVTY December 29 · WAT December 31
- Feb 24, 2026
RVTY vs WAT: quick comparison
| Company fact | RVTY | WAT |
|---|---|---|
| Company | Revvity, Inc. | Waters Corporation |
| Exchange | NYSE | NYSE |
| SEC industry | Laboratory Analytical Instruments | Laboratory Analytical Instruments |
| Fiscal year-end | December 29 | December 31 |
| Latest annual filing | 10-K · 2026-02-24 | 10-K · 2026-02-23 |
RVTY vs WAT: audited financials
- Scale: WAT's $3.2B of revenue is about 1.1× RVTY's $2.9B.
- Net margin: WAT kept 20.3% of revenue as net income versus 8.4% at RVTY.
- Cash conversion: operating cash flow equalled RVTY 20.4% of revenue, or 2.42× net income; WAT 20.6% of revenue, or 1.02× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: the fiscal years end 3 days apart (2025-12-28 and 2025-12-31), so these annual figures cover close to the same months.
| Metric | RVTY | WAT |
|---|---|---|
| Revenue | $2.9B2024-12-30 to 2025-12-28 · SEC filing | $3.2B2025-01-01 to 2025-12-31 · SEC filing |
| Net income | $241M2024-12-30 to 2025-12-28 · SEC filing | $643M2025-01-01 to 2025-12-31 · SEC filing |
| Operating cash flow | $583M2024-12-30 to 2025-12-28 · SEC filing | $653M2025-01-01 to 2025-12-31 · SEC filing |
| Diluted EPS | $2.072024-12-30 to 2025-12-28 · SEC filing | $10.762025-01-01 to 2025-12-31 · SEC filing |
| Net margin | 8.4%2024-12-30 to 2025-12-28 · SEC filing | 20.3%2025-01-01 to 2025-12-31 · SEC filing |
RVTY: FY ending 2025-12-28 · WAT: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where RVTY and WAT overlap, and where they don't
Overlap
- Same SEC industry: both report under SIC 3826, Laboratory Analytical Instruments.
- Nearly aligned fiscal calendars: RVTY's year ends December 29 and WAT's December 31.
Differences
- Profitability: net margin of 8.4% for RVTY versus 20.3% for WAT.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Waters Corporation (WAT)
Waters Corporation makes analytical instruments for chromatography and mass spectrometry used in labs.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves RVTY
We have not yet published a company-specific driver list for RVTY. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-24.
What moves WAT
We have not yet published a company-specific driver list for WAT. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-23.
The investment question
You now know WAT reports about 1.1× RVTY's revenue, and WAT keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about the laboratory analytical instruments cycle, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. RVTY's fiscal year ends December 29, while WAT's ends December 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 15 matched transaction rows for RVTY and 18 matched transaction rows for WAT. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
RVTY primary filings
WAT primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving RVTY or WAT
RVTY vs WAT FAQs
Are RVTY and WAT direct competitors?
Revvity and Waters share the SEC industry classification “Laboratory Analytical Instruments.” That makes the operating comparison relevant, but it does not prove that every product, customer, or revenue stream competes directly.
Is RVTY or WAT the bigger company by revenue?
Waters (WAT) is the larger business by reported revenue: $3.2B in its fiscal year ended Dec 2025, about 1.1× RVTY's $2.9B (fiscal year ended Dec 2025). RVTY's net margin was 8.4% and WAT's 20.3%. Both file with the SEC under the same industry code, SIC 3826 (Laboratory Analytical Instruments). Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, RVTY or WAT?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this RVTY vs WAT comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Revvity, Inc. and Waters Corporation tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
RVTY vs WAT compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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