SMMT vs. WAT: Summit Therapeutics vs. Waters Stock Comparison

November 11, 2026

How do Summit Therapeutics (SMMT) 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

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

Company profile comparison for Summit Therapeutics (SMMT) and Waters (WAT)
Profile Item	SMMT	WAT
Name	Summit Therapeutics 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	13.06 billion USD	44.93 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	March 5, 2015	November 17, 1995
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

SMMT

WAT

GSPC

Summit Therapeutics (SMMT) 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 Summit Therapeutics (SMMT) and Waters (WAT). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Summit Therapeutics (SMMT) and Waters (WAT)
Metric	SMMT	WAT
Total Return (1Y)	-2.48%	27.70%
Total Return (3Y, Annualized)	116.18%	23.32%
Total Return (5Y, Annualized)	26.89%	6.27%

Risk Profile

Drawdown History

SMMT

WAT

GSPC

Summit Therapeutics (SMMT) 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 Summit Therapeutics (SMMT) and Waters (WAT). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Summit Therapeutics (SMMT) reports a negative beta of -1.51, suggesting inverse market sensitivity over the measurement window. That is uncommon for ordinary equities and can reflect commodity-linked or hedge-like exposure, but it can also come from statistical noise. Waters (WAT) has a non-negative beta of 1.13.

Risk profile metrics for Summit Therapeutics (SMMT) and Waters (WAT)
Metric	SMMT	WAT
Volatility (1Y, Annualized)	75.06%	35.45%
Beta (5Y)	-1.51	1.13
Max Drawdown (5Y)	-87.64%	-36.47%
Avg. Volume (3M)	6.19M	816.72K

Risk-Adjusted Performance

Risk-Return Positioning

SMMT 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 Summit Therapeutics (SMMT) and Waters (WAT)
Metric	SMMT	WAT
Sharpe Ratio (1Y)	-0.09	0.66
Sortino Ratio (1Y)	-0.13	0.98

Profitability

ROE (TTM)

Summit Therapeutics (SMMT) reports a negative ROE of -220.01%; 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.

SMMT

Pharmaceuticals, Biotechnology & Life Sciences industry group

-220.01%

Max: 109.18%
Q3: 6.23%
Median: -26.66%
Q1: -64.05%
Min: -167.77%
SMMT: -220.01%

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%

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

Net Margin (TTM)

Both Summit Therapeutics (SMMT) 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.

SMMT

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

Max: 18.05%
Q3: 4.78%
SMMT: 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%

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

Operating Margin (TTM)

Both Summit Therapeutics (SMMT) 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.

SMMT

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

Max: 83.12%
Q3: 14.77%
SMMT: 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%

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

Profitability Metrics

Profitability metrics for Summit Therapeutics (SMMT) and Waters (WAT)
Metric	SMMT	WAT
ROE (TTM)	-220.01%	1.12%
ROA (TTM)	-111.99%	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; Summit Therapeutics (SMMT) has no revenue growth figure this period.

Summit Therapeutics (SMMT) 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; Summit Therapeutics (SMMT) has no EPS growth figure this period.

Summit Therapeutics (SMMT) vs. Waters (WAT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Summit Therapeutics (SMMT) and Waters (WAT)
Metric	SMMT	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: Summit Therapeutics (SMMT) shows current ratio of 5.99 against its industry benchmark, while Waters (WAT) has no reading this period.

SMMT

Pharmaceuticals, Biotechnology & Life Sciences industry group

5.99

Max: 25.13
Q3: 12.13
SMMT: 5.99
Median: 5.52
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: --

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

Debt / Equity (MRQ)

Both Summit Therapeutics (SMMT) at 0.04 and Waters (WAT) at 0.34 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

SMMT

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.04

Max: 1.42
Q3: 0.65
Median: 0.15
SMMT: 0.04
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

Summit Therapeutics (SMMT) 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 Summit Therapeutics (SMMT) and Waters (WAT)
Metric	SMMT	WAT
Current Ratio (MRQ)	5.99	--
Debt / Equity (MRQ)	0.04	0.34
Net Debt / EBITDA	--	3.23

Dividends

Dividend Yield (TTM)

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

SMMT

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

SMMT: 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%

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

Dividend Payout Ratio (TTM)

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

SMMT

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

SMMT: 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%

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

Dividend Metrics

Dividend metrics for Summit Therapeutics (SMMT) and Waters (WAT)
Metric	SMMT	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 Summit Therapeutics (SMMT) has no P/E ratio this period.

SMMT

Pharmaceuticals, Biotechnology & Life Sciences industry group

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

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

Summit Therapeutics (SMMT) vs. Waters (WAT): SMMT 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; Summit Therapeutics (SMMT) reports no figure this period.

SMMT

Pharmaceuticals, Biotechnology & Life Sciences industry group

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

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

Summit Therapeutics (SMMT) vs. Waters (WAT): SMMT 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)

Waters (WAT) at 2.94 sits near its industry’s typical P/B ratio, while Summit Therapeutics (SMMT) at 23.13 prices above its benchmark range — SMMT looks rich relative to book.

SMMT

Pharmaceuticals, Biotechnology & Life Sciences industry group

23.13

SMMT: 23.13
Max: 13.53
Q3: 6.54
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

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

Valuation Metrics

Valuation metrics for Summit Therapeutics (SMMT) and Waters (WAT)
Metric	SMMT	WAT
P/E Ratio (TTM)	--	191.46
P/S Ratio (TTM)	--	8.01
P/B Ratio (MRQ)	23.13	2.94
Free Cash Flow Yield (TTM)	-1.64%	--