• Waters average net profit margin for 2023 was 22.34%, a 7.11% decline from 2022.
• Waters average net profit margin for 2022 was 24.05%, a 3.26% decline from 2021.
• Waters average net profit margin for 2021 was 24.86%, a 11.13% decline from 2020.

Net profit margin can be defined as net Income as a portion of total sales revenue.