ROPER TECHNOLOGIES INC vs Waters Corporation, two Scientific Instruments stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
What is priced in runs through two recoveries that do not exist equally: Waters at 47.4 times earnings is priced for its negative 3.7% operating margin, one-time freight through an intact franchise, to normalize; Roper at 21.1 times is priced as if nothing about its 27.2% operating margin and 7.4% free-cash yield deserved a premium. The pair is the sector's oddest ordering: the business needing repair costs more than twice as much per dollar of earnings as the one needing nothing. Waters' 11.9% net margin shows the underlying franchise still earning; Roper's 69.4% gross margin shows a software estate wearing an instruments label. Patience is being sold at a premium and performance at a discount.
Comparison updated 2026-07-10.
| Metric | ROP | WAT |
|---|---|---|
| Price | $338.37 | $374.11 |
| Market cap | $35.4B | $30.7B |
| Sector | Scientific Instruments | Scientific Instruments |
| Stage | Mature | Growth |
| Implied growth (priced in) | -0.5% | — |
| P/E | 21.1 | 47.4 |
| P/B | 1.88 | 2.01 |
| P/S | 4.36 | 8.09 |
| EV/EBITDA | 19.9 | 54.6 |
| Revenue growth | +12.1% | +28.6% |
| Gross margin | 69.4% | — |
| Operating margin | 27.2% | -3.7% |
| Net margin | 21.1% | 11.9% |
| Return on equity | 9.1% | 3.0% |
| Return on assets | 5.0% | 1.8% |
| Return on invested capital | 6.2% | 2.4% |
| FCF yield | 7.4% | 1.1% |
| Dividend yield | 1.0% | — |
| Debt / equity | 0.56 | 0.32 |
| Current ratio | 0.53 | 1.79 |
| Altman Z (solvency) | 2.30 | 2.82 |
| Piotroski F (quality) | 6 / 9 | 3 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.