• Waters average price to free cash flow ratio for 2024 was 35.15, a 17.43% decline from 2023.
• Waters average price to free cash flow ratio for 2023 was 42.57, a 8.16% decline from 2022.
• Waters average price to free cash flow ratio for 2022 was 39.36, a 7.6% increase from 2021.

Price to free cash flow ratio can be defined as