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RPRX vs. WAT: Royalty Pharma vs. Waters Stock Comparison

How do Royalty Pharma (RPRX) 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

Royalty Pharma (RPRX) and Waters (WAT) both fall under the Pharmaceuticals, Biotechnology & Life Sciences industry group, but RPRX is classified in Pharmaceuticals 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 Royalty Pharma (RPRX) listed on June 16, 2020 and has a much shorter record to draw on.

Company profile comparison for Royalty Pharma (RPRX) and Waters (WAT)
Profile ItemRPRXWAT
NameRoyalty Pharma plc Class A Ordinary SharesWaters Corporation
Country/RegionUnited StatesUnited States
GICS SectorHealth CareHealth Care
GICS Industry GroupPharmaceuticals, Biotechnology & Life SciencesPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryPharmaceuticalsLife Sciences Tools & Services
GICS Sub-IndustryPharmaceuticalsLife Sciences Tools & Services
Market Capitalization38.70 billion USD44.93 billion USD
CurrencyUSDUSD
ExchangeNasdaqNYSE
Listing DateJune 16, 2020November 17, 1995
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

RPRX
WAT
GSPC
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Royalty Pharma (RPRX) 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 Royalty Pharma (RPRX) and Waters (WAT). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Royalty Pharma (RPRX) and Waters (WAT)
MetricRPRXWAT
Total Return (1Y)81.08%27.70%
Total Return (3Y, Annualized)39.21%23.32%
Total Return (5Y, Annualized)14.22%6.27%

Risk Profile

Drawdown History

RPRX
WAT
GSPC
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Royalty Pharma (RPRX) 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 Royalty Pharma (RPRX) and Waters (WAT). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Royalty Pharma (RPRX) and Waters (WAT)
MetricRPRXWAT
Volatility (1Y, Annualized)22.05%35.45%
Beta (5Y)0.361.13
Max Drawdown (5Y)-41.98%-36.47%
Avg. Volume (3M)3.10M816.72K

Risk-Adjusted Performance

Risk-Return Positioning

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RPRX 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 Royalty Pharma (RPRX) and Waters (WAT)
MetricRPRXWAT
Sharpe Ratio (1Y)3.480.66
Sortino Ratio (1Y)5.720.98

Profitability

ROE (TTM)

Royalty Pharma (RPRX) at 12.09% sits in the top ROE quartile, while Waters (WAT) at 1.12% is closer to the peer norm — stronger capital efficiency for RPRX.

RPRX

Pharmaceuticals, Biotechnology & Life Sciences industry group

12.09%

Max
109.18%
RPRX
12.09%
Q3
6.23%
Median
-26.66%
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%
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Royalty Pharma (RPRX) vs. Waters (WAT): A comparison of their ROE against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Net Margin (TTM)

Royalty Pharma (RPRX) at 25.70% converts revenue to bottom-line profit above its industry’s benchmark range, while Waters (WAT) at 1.76% keeps roughly the typical share for its industry.

RPRX

Pharmaceuticals, Biotechnology & Life Sciences industry group

25.70%

RPRX
25.70%
Max
18.05%
Q3
4.78%
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%
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Royalty Pharma (RPRX) vs. Waters (WAT): A comparison of their net margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Operating Margin (TTM)

Royalty Pharma (RPRX) at 81.32% operates in the top operating margin quartile, ahead of Waters (WAT) at 11.38%, which runs around its industry’s norm.

RPRX

Pharmaceuticals, Biotechnology & Life Sciences industry group

81.32%

Max
83.12%
RPRX
81.32%
Q3
14.77%
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%
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Royalty Pharma (RPRX) vs. Waters (WAT): A comparison of their operating margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Profitability Metrics

Profitability metrics for Royalty Pharma (RPRX) and Waters (WAT)
MetricRPRXWAT
ROE (TTM)12.09%1.12%
ROA (TTM)5.43%2.36%
Net Margin (TTM)25.70%1.76%
Operating Margin (TTM)81.32%11.38%
Gross Margin (TTM)99.79%49.83%

Growth

Revenue Growth

Both Royalty Pharma (RPRX) at 5.06% and Waters (WAT) at 6.99% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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Royalty Pharma (RPRX) vs. Waters (WAT): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Royalty Pharma (RPRX) at 23.09% and Waters (WAT) at 0.47% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

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Royalty Pharma (RPRX) vs. Waters (WAT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Royalty Pharma (RPRX) and Waters (WAT)
MetricRPRXWAT
Revenue Growth (YoY)5.06%6.99%
Revenue Growth (3Y CAGR)2.06%2.12%
EPS Growth (YoY)23.09%0.47%
EPS Growth (3Y CAGR)161.10%-2.84%

Financial Strength

Current Ratio (MRQ)

Short-term liquidity can only be read on one side of this pairing: Royalty Pharma (RPRX) shows current ratio of 1.29 against its industry benchmark, while Waters (WAT) has no reading this period.

RPRX

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.29

Max
25.13
Q3
12.13
Median
5.52
Q1
2.47
RPRX
1.29
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
--
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Royalty Pharma (RPRX) vs. Waters (WAT): WAT does not report current ratio, so it has no value marker; RPRX is benchmarked against the Pharmaceuticals, Biotechnology & Life Sciences industry group.

Debt / Equity (MRQ)

Waters (WAT) at 0.34 carries an industry-typical debt-to-equity mix, while Royalty Pharma (RPRX) at 0.88 uses more debt funding than most peers.

RPRX

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.88

Max
1.42
RPRX
0.88
Q3
0.65
Median
0.15
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
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Royalty Pharma (RPRX) 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 Royalty Pharma (RPRX) and Waters (WAT)
MetricRPRXWAT
Current Ratio (MRQ)1.29--
Debt / Equity (MRQ)0.880.34
Net Debt / EBITDA4.763.23

Dividends

Dividend Yield (TTM)

Waters (WAT) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Royalty Pharma (RPRX) reports a yield of 1.37%, ranking against industry peers normally.

RPRX

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.37%

RPRX
1.37%
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%
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Royalty Pharma (RPRX) vs. Waters (WAT): A comparison of their dividend yield against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Dividend Payout Ratio (TTM)

Waters (WAT) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Royalty Pharma (RPRX) reports a payout of 60.46%, ranking against industry peers normally.

RPRX

Pharmaceuticals, Biotechnology & Life Sciences industry group

60.46%

RPRX
60.46%
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%
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Royalty Pharma (RPRX) vs. Waters (WAT): A comparison of their payout ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Dividend Metrics

Dividend metrics for Royalty Pharma (RPRX) and Waters (WAT)
MetricRPRXWAT
Dividend Yield (TTM)1.37%0.00%
Dividend Payout Ratio (TTM)60.46%0.00%

Valuation

P/E Ratio (TTM)

Both look expensive on trailing earnings: Royalty Pharma (RPRX) at 43.99 sits in the richer P/E ratio quartile, and Waters (WAT) at 191.46 is richer still, above its industry range.

RPRX

Pharmaceuticals, Biotechnology & Life Sciences industry group

43.99

Max
85.34
RPRX
43.99
Q3
43.46
Median
26.69
Q1
13.30
Min
0.07

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
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Royalty Pharma (RPRX) vs. Waters (WAT): A comparison of their P/E ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Royalty Pharma (RPRX) at 14.79 and Waters (WAT) at 8.01 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

RPRX

Pharmaceuticals, Biotechnology & Life Sciences industry group

14.79

Max
58.18
Q3
25.77
RPRX
14.79
Median
7.30
Q1
3.01
Min
0.01

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
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Royalty Pharma (RPRX) vs. Waters (WAT): A comparison of their P/S ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Royalty Pharma (RPRX) at 4.39 and Waters (WAT) at 2.94 are valued close to their industries’ norm against book — neither stands out from peers.

RPRX

Pharmaceuticals, Biotechnology & Life Sciences industry group

4.39

Max
13.53
Q3
6.54
RPRX
4.39
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
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Royalty Pharma (RPRX) vs. Waters (WAT): A comparison of their P/B ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Valuation Metrics

Valuation metrics for Royalty Pharma (RPRX) and Waters (WAT)
MetricRPRXWAT
P/E Ratio (TTM)43.99191.46
P/S Ratio (TTM)14.798.01
P/B Ratio (MRQ)4.392.94
Free Cash Flow Yield (TTM)-1.16%--