Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Waters Corporation (WAT) Halal?

PASS

Waters Corporation · NYSE: WAT · Healthcare

The short answer

Yes — Waters Corporation (NYSE: WAT) passes this Shariah stock screen. Its analytical-instruments business (liquid chromatography, mass spectrometry, thermal analysis, plus the acquired BD Biosciences & Diagnostic Solutions unit) has no prohibited lines. Interest-bearing debt of $5.09B at July 4, 2026 is about 11.7% of its ~$43.5B market cap ($435.87/share, Oct 1, 2026), well under the ~33% ceiling, and interest income of $12M is about 0.41% of first-half 2026 revenue ($2.91B), well under the 5% non-compliant income limit. Zoya also rates WAT Shariah-compliant (October 2026); no Musaffa or ShariaPortfolio coverage was found — honestly reported as absent, not invented.

Gate 1 — Business activity: PASS

Waters Corporation (NYSE: WAT), founded in 1958 and headquartered in Milford, Massachusetts, develops and manufactures analytical workflow technologies: liquid chromatography, mass spectrometry and thermal analysis instruments, plus chromatography columns, consumables, laboratory software and services. In Q1 2026 it completed the acquisition of BD's Biosciences and Diagnostic Solutions business, adding flow cytometry and diagnostic instruments; it now reports four divisions — Analytical Sciences, Biosciences, Advanced Diagnostics and Materials Sciences. Customers are pharmaceutical and biotech companies, academic and government research labs, and industrial, food and environmental testing organizations. None of the disclosed lines — analytical instruments, life-science software, diagnostics hardware — are prohibited lines (no alcohol, gambling, pork, conventional banking/insurance, tobacco, or adult entertainment). Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

At July 4, 2026 the company reported notes payable and debt of $5,086M (up from $1,407M at December 31, 2025, reflecting new Senior Notes and a SpinCo term loan financing the BD Biosciences and Diagnostic Solutions acquisition), per the Q2 2026 Form 10-Q. Against a market cap of about $43.5B ($435.87/share, October 1, 2026 quotes), debt ÷ market cap is about 11.7%, well below the ~33% ceiling. Cash and cash equivalents of $539M are about 1.2% of market cap, within the ~33% guideline. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

Interest income was $12M for the six months ended July 4, 2026, per the Q2 2026 Form 10-Q, against total revenues of $2,912M — about 0.41% of revenue, far below the 5% non-compliant income limit. For reference, the FY2025 10-K reported interest income of $18.8M against net sales of $3,165.3M (about 0.59%). The interest is earned on cash balances, not from lending. Gate 3 passes. Facts only.

Key figures used

Frequently asked questions

What does Waters Corporation do?

Waters Corporation (NYSE: WAT) develops and manufactures analytical workflow technologies: liquid chromatography, mass spectrometry and thermal analysis instruments, plus columns, consumables, lab software and services. In Q1 2026 it completed the acquisition of BD's Biosciences and Diagnostic Solutions business, adding flow cytometry and diagnostics; its divisions are now Analytical Sciences, Biosciences, Advanced Diagnostics and Materials Sciences. Customers are pharmaceutical and biotech companies, academic and government labs, and industrial, food and environmental testing labs.

Why does Waters pass this Shariah stock screen?

Waters passes all three gates of this Shariah stock screen. Its analytical-instruments business has no prohibited lines (no alcohol, gambling, tobacco, pork, conventional banking or insurance, or adult entertainment). Its interest-bearing debt of $5.09B is about 11.7% of its ~$43.5B market cap, well under the ~33% ceiling. And its interest income of $12M is about 0.41% of first-half 2026 revenue ($2.91B), well under the 5% non-compliant income limit. Zoya also rates WAT Shariah-compliant (October 2026). This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.

What is Waters Corporation's interest-bearing debt ratio?

At July 4, 2026 Waters reported notes payable and debt of $5.086B (up from $1.41B at December 31, 2025, reflecting financing for the BD Biosciences and Diagnostic Solutions acquisition) and cash and cash equivalents of $539M, per its Q2 2026 Form 10-Q. Against a market capitalization of about $43.5B ($435.87/share, October 1, 2026 quotes), debt ÷ market cap is about 11.7%, far below the ~33% ceiling. Cash of $539M is about 1.2% of market cap, within the ~33% guideline. The financial-structure gate passes.

What is Waters Corporation's non-compliant income ratio?

For the six months ended July 4, 2026, Waters reported interest income of $12M against total revenues of $2,912M — about 0.41% of revenue, far below the 5% non-compliant income limit. (For reference, the FY2025 10-K reported interest income of $18.8M against net sales of $3,165.3M, about 0.59%.) Interest income is earned on cash balances, not from lending. The income gate passes.

Do Zoya, Musaffa, or ShariaPortfolio cover Waters Corporation?

Zoya covers Waters (NYSE: WAT) and rates it Shariah-compliant as of October 2026 (AAOIFI guidelines). No coverage of WAT was found on Musaffa or ShariaPortfolio — honestly reported as absent, not invented. This page applies the screen directly from the company's filings: the Q2 2026 Form 10-Q (quarter ended July 4, 2026) and the FY2025 Form 10-K.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).