PCVX vs. WAT: Vaxcyte vs. Waters Stock Comparison

November 11, 2026

How do Vaxcyte (PCVX) and Waters (WAT) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Vaxcyte (PCVX) and Waters (WAT) both fall under the Pharmaceuticals, Biotechnology & Life Sciences industry group, but PCVX is classified in Biotechnology while WAT is classified in Life Sciences Tools & Services.

Waters (WAT) has more than two decades of public-market history since November 17, 1995, whereas Vaxcyte (PCVX) listed on June 12, 2020 and has a much shorter record to draw on.

Company profile comparison for Vaxcyte (PCVX) and Waters (WAT)
Profile Item	PCVX	WAT
Name	Vaxcyte Inc.	Waters Corporation
Country/Region	United States	United States
GICS Sector	Health Care	Health Care
GICS Industry Group	Pharmaceuticals, Biotechnology & Life Sciences	Pharmaceuticals, Biotechnology & Life Sciences
GICS Industry	Biotechnology	Life Sciences Tools & Services
GICS Sub-Industry	Biotechnology	Life Sciences Tools & Services
Market Capitalization	10.11 billion USD	44.93 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	June 12, 2020	November 17, 1995
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

PCVX

WAT

GSPC

Vaxcyte (PCVX) vs. Waters (WAT), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Vaxcyte (PCVX) and Waters (WAT). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Vaxcyte (PCVX) and Waters (WAT). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Vaxcyte (PCVX) and Waters (WAT)
Metric	PCVX	WAT
Total Return (1Y)	59.00%	27.70%
Total Return (3Y, Annualized)	11.29%	23.32%
Total Return (5Y, Annualized)	21.60%	6.27%

Risk Profile

Drawdown History

PCVX

WAT

GSPC

Vaxcyte (PCVX) vs. Waters (WAT), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Vaxcyte (PCVX) and Waters (WAT). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Vaxcyte (PCVX) and Waters (WAT)
Metric	PCVX	WAT
Volatility (1Y, Annualized)	56.01%	35.45%
Beta (5Y)	1.26	1.13
Max Drawdown (5Y)	-76.22%	-36.47%
Avg. Volume (3M)	2.12M	816.72K

Risk-Adjusted Performance

Risk-Return Positioning

PCVX and WAT are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Vaxcyte (PCVX) and Waters (WAT)
Metric	PCVX	WAT
Sharpe Ratio (1Y)	0.98	0.66
Sortino Ratio (1Y)	1.76	0.98

Profitability

ROE (TTM)

Vaxcyte (PCVX) reports a negative ROE of -42.68%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile Waters (WAT) reports 1.12%, ranking against industry peers normally.

PCVX

Pharmaceuticals, Biotechnology & Life Sciences industry group

-42.68%

Max: 109.18%
Q3: 6.23%
Median: -26.66%
PCVX: -42.68%
Q1: -64.05%
Min: -167.77%

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.12%

Max: 109.18%
Q3: 6.23%
WAT: 1.12%
Median: -26.66%
Q1: -64.05%
Min: -167.77%

Vaxcyte (PCVX) vs. Waters (WAT): A comparison of their ROE against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Net Margin (TTM)

Both Vaxcyte (PCVX) at 0.00% and Waters (WAT) at 1.76% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

PCVX

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

Max: 18.05%
Q3: 4.78%
PCVX: 0.00%
Median: 0.00%
Q1: -4.14%
Min: -17.05%

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.76%

Max: 18.05%
Q3: 4.78%
WAT: 1.76%
Median: 0.00%
Q1: -4.14%
Min: -17.05%

Vaxcyte (PCVX) vs. Waters (WAT): A comparison of their net margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Operating Margin (TTM)

Both Vaxcyte (PCVX) at 0.00% and Waters (WAT) at 11.38% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

PCVX

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

Max: 83.12%
Q3: 14.77%
PCVX: 0.00%
Median: 0.00%
Q1: -78.82%
Min: -207.40%

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

11.38%

Max: 83.12%
Q3: 14.77%
WAT: 11.38%
Median: 0.00%
Q1: -78.82%
Min: -207.40%

Vaxcyte (PCVX) vs. Waters (WAT): A comparison of their operating margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Profitability Metrics

Profitability metrics for Vaxcyte (PCVX) and Waters (WAT)
Metric	PCVX	WAT
ROE (TTM)	-42.68%	1.12%
ROA (TTM)	-24.98%	2.36%
Net Margin (TTM)	0.00%	1.76%
Operating Margin (TTM)	0.00%	11.38%
Gross Margin (TTM)	0.00%	49.83%

Growth

Revenue Growth

Only one side can be read here: Waters (WAT) reports revenue growth of 6.99%, ranked against its industry; Vaxcyte (PCVX) has no revenue growth figure this period.

Vaxcyte (PCVX) vs. Waters (WAT): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Waters (WAT) reports EPS growth of 0.47%, ranked against its industry; Vaxcyte (PCVX) has no EPS growth figure this period.

Vaxcyte (PCVX) vs. Waters (WAT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Vaxcyte (PCVX) and Waters (WAT)
Metric	PCVX	WAT
Revenue Growth (YoY)	--	6.99%
Revenue Growth (3Y CAGR)	--	2.12%
EPS Growth (YoY)	--	0.47%
EPS Growth (3Y CAGR)	--	-2.84%

Financial Strength

Current Ratio (MRQ)

Short-term liquidity can only be read on one side of this pairing: Vaxcyte (PCVX) shows current ratio of 4.56 against its industry benchmark, while Waters (WAT) has no reading this period.

PCVX

Pharmaceuticals, Biotechnology & Life Sciences industry group

4.56

Max: 25.13
Q3: 12.13
Median: 5.52
PCVX: 4.56
Q1: 2.47
Min: 0.10

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

Max: 25.13
Q3: 12.13
Median: 5.52
Q1: 2.47
Min: 0.10
WAT: --

Vaxcyte (PCVX) vs. Waters (WAT): WAT does not report current ratio, so it has no value marker; PCVX is benchmarked against the Pharmaceuticals, Biotechnology & Life Sciences industry group.

Debt / Equity (MRQ)

Both Vaxcyte (PCVX) at 0.09 and Waters (WAT) at 0.34 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

PCVX

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.09

Max: 1.42
Q3: 0.65
Median: 0.15
PCVX: 0.09
Q1: 0.02
Min: 0.00

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.34

Max: 1.42
Q3: 0.65
WAT: 0.34
Median: 0.15
Q1: 0.02
Min: 0.00

Vaxcyte (PCVX) vs. Waters (WAT): A comparison of their debt-to-equity ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Vaxcyte (PCVX) and Waters (WAT)
Metric	PCVX	WAT
Current Ratio (MRQ)	4.56	--
Debt / Equity (MRQ)	0.09	0.34
Net Debt / EBITDA	--	3.23

Dividends

Dividend Yield (TTM)

Neither Vaxcyte (PCVX) nor Waters (WAT) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

PCVX

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

PCVX: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

WAT: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Vaxcyte (PCVX) vs. Waters (WAT): A comparison of their dividend yield against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Dividend Payout Ratio (TTM)

Neither Vaxcyte (PCVX) nor Waters (WAT) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

PCVX

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

PCVX: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

WAT: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Vaxcyte (PCVX) vs. Waters (WAT): A comparison of their payout ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Dividend Metrics

Dividend metrics for Vaxcyte (PCVX) and Waters (WAT)
Metric	PCVX	WAT
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Waters (WAT) trades at 191.46 times trailing earnings, ranked against its peers, while Vaxcyte (PCVX) has no P/E ratio this period.

PCVX

Pharmaceuticals, Biotechnology & Life Sciences industry group

Max: 85.34
Q3: 43.46
Median: 26.69
Q1: 13.30
Min: 0.07
PCVX: --

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

191.46

WAT: 191.46
Max: 85.34
Q3: 43.46
Median: 26.69
Q1: 13.30
Min: 0.07

Vaxcyte (PCVX) vs. Waters (WAT): PCVX does not report P/E ratio, so it has no value marker; WAT is benchmarked against the Pharmaceuticals, Biotechnology & Life Sciences industry group.

P/S Ratio (TTM)

A sales-based read is only available for Waters (WAT), whose P/S ratio of 8.01 ranks against industry peers; Vaxcyte (PCVX) reports no figure this period.

PCVX

Pharmaceuticals, Biotechnology & Life Sciences industry group

Max: 58.18
Q3: 25.77
Median: 7.30
Q1: 3.01
Min: 0.01
PCVX: --

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

8.01

Max: 58.18
Q3: 25.77
WAT: 8.01
Median: 7.30
Q1: 3.01
Min: 0.01

Vaxcyte (PCVX) vs. Waters (WAT): PCVX does not report P/S ratio, so it has no value marker; WAT is benchmarked against the Pharmaceuticals, Biotechnology & Life Sciences industry group.

P/B Ratio (MRQ)

On P/B ratio, both Vaxcyte (PCVX) at 3.83 and Waters (WAT) at 2.94 are valued close to their industries’ norm against book — neither stands out from peers.

PCVX

Pharmaceuticals, Biotechnology & Life Sciences industry group

3.83

Max: 13.53
Q3: 6.54
PCVX: 3.83
Median: 3.25
Q1: 1.69
Min: -5.59

WAT

Pharmaceuticals, Biotechnology & Life Sciences industry group

2.94

Max: 13.53
Q3: 6.54
Median: 3.25
WAT: 2.94
Q1: 1.69
Min: -5.59

Vaxcyte (PCVX) vs. Waters (WAT): A comparison of their P/B ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Valuation Metrics

Valuation metrics for Vaxcyte (PCVX) and Waters (WAT)
Metric	PCVX	WAT
P/E Ratio (TTM)	--	191.46
P/S Ratio (TTM)	--	8.01
P/B Ratio (MRQ)	3.83	2.94
Free Cash Flow Yield (TTM)	-5.24%	--