Sifting through countless of stocks in the Life Sciences Tools & Services industry can be tedious, and sometimes two stocks are just too similar to judge which is the better investment. If you’re on the fence about investing in Illumina, Inc. or Waters Corporation because you’re not sure how they measure up, it’s important to compare them on a few factors before making your decision.

Read on to learn how Illumina, Inc. and Waters Corporation compare based on key financial metrics to determine which better meets your investment needs.

About Illumina, Inc. and Waters Corporation

Illumina, Inc. provides sequencing- and array-based solutions for genetic and genomic analysis in the Americas, Europe, Greater China, the Asia Pacific, the Middle East, and Africa. The company offers sequencing- and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest. It also provides whole-genome sequencing, genotyping, noninvasive prenatal testing, and product support services. The company serves genomic research centers, academic institutions, government laboratories, and hospitals, as well as pharmaceutical, biotechnology, commercial molecular diagnostic laboratories, and consumer genomics companies. The company markets and distributes its products directly to customers, as well as through life-science distributors. The company has a collaboration with Labcorp Holdings Inc. for the development of oncology treatments through applications of sequencing solutions across the healthcare ecosystem; and strategic collaboration with Integrated DNA Technologies to enable a DRAGEN, secondary analysis pipeline for IDT xGena, FFPE and cfDNA next generation sequencing (NGS) library preparation with custom panels, delivering an integrated, end-to-end solution for somatic oncology research. It also has a data partnership with Center for Data-Driven Discovery in Biomedicine to advance research in pediatric cancer and rare disease. Illumina, Inc. was incorporated in 1998 and is headquartered in San Diego, California.

Waters Corporation provides analytical workflow solutions in Asia, the Americas, and Europe. The company operates through two segments, Waters and TA. The company designs, manufactures, sells, and services liquid chromatography, as well as mass spectrometry (MS) technology systems and supports products, including chromatography columns, and other consumable products. It also designs, manufactures, sells, and services thermal analysis, rheometry, and calorimetry instruments for use in predicting the suitability and stability of fine chemicals, pharmaceuticals, water, polymers, metals, and viscous liquids for various industrial, consumer goods, and healthcare products, as well as for life science research; and develops and supplies software-based products that interface with its instruments, as well as other manufacturers' instruments. In addition, the company offers MS technology, which is used in drug discovery and development comprising clinical trial testing, the analysis of proteins in disease processes, nutritional safety analysis, and environmental testing. Its products are used by clinical, pharmaceutical, biochemical, industrial, nutritional safety, environmental, academic, and governmental customers working in research and development, quality assurance, and other laboratory applications. The company was founded in 1958 and is headquartered in Milford, Massachusetts.

Latest Life Sciences Tools & Services and Illumina, Inc., Waters Corporation Stock News

As of September 1, 2026, Illumina, Inc. had a $31.3 billion market capitalization, compared to the Life Sciences Tools & Services median of $2.9 million. Illumina, Inc.’s stock is up 62% in 2026, down 5.5% in the previous five trading days and up 107.21% in the past year.

Currently, Illumina, Inc.’s price-earnings ratio is 38.6. Illumina, Inc.’s trailing 12-month revenue is $4.5 billion with a 18.3% net profit margin. Year-over-year quarterly sales growth most recently was 9.4%. Analysts expect adjusted earnings to reach $5.356 per share for the current fiscal year. Illumina, Inc. does not currently pay a dividend.

As of September 1, 2026, Waters Corporation had a $39.9 billion market cap, putting it in the 92nd percentile of all stocks. Waters Corporation’s stock is up 8.4% in 2026, down 0.6% in the previous five trading days and up 34.47% in the past year.

Currently, Waters Corporation’s price-earnings ratio is 183.2. Waters Corporation’s trailing 12-month revenue is $4.6 billion with a 3.6% net profit margin. Year-over-year quarterly sales growth most recently was 113.4%. Analysts expect adjusted earnings to reach $14.576 per share for the current fiscal year. Waters Corporation does not currently pay a dividend.

How We Compare Illumina, Inc. and Waters Corporation Stock Grades

Stock evaluation requires access to huge amounts of data and the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movements. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors streamline and work through such data.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A‐F grades for each of five key investing factors: value, growth, momentum, earnings estimate revisions and quality. Here, we’ll take a closer look at Illumina, Inc. and Waters Corporation’s stock grades to see how they measure up against one another.

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Illumina, Inc. and Waters Corporation Stock Value Grades

Company	Ticker	Value
Illumina, Inc.	ILMN	F
Waters Corporation	WAT	F

Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection.

Buying stocks that are going to go up typically means buying stocks that are undervalued in the first place, although momentum investors may argue that point.

AAII’s A+ Investor Value Grade derives from a stock’s value score. The Value Score is the percentile rank of the average of the percentile ranks of the price-to-sales ratio, price-earnings ratio, enterprise-value-to-EBITDA (EV/EBITDA) ratio, shareholder yield, price-to-book-value ratio and price-to-free-cash-flow ratio. The score is variable, meaning it can consider all six ratios or, should any of the six ratios not be valid, the remaining ratios that are valid. To be assigned a Value Score, stocks must have a valid (non-null) ratio and corresponding ranking for at least two of the six valuation ratios.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are a good value and so on.

Illumina, Inc. has a Value Score of 15, which is Ultra Expensive. Waters Corporation has a Value Score of 4, which is Ultra Expensive.

The Value Stock Winner: No Clear Winner

Neither Illumina, Inc. or Waters Corporation has a high enough value grade to be considered a “winner.” Investors who are considering these companies should do additional due diligence and research to see if either could be a good addition to their portfolio. It’s important to look at a wide range of financial metrics in order to determine if Illumina, Inc. or Waters Corporation is the better investment when it comes to value.

Illumina, Inc. and Waters Corporation Growth Grades

Company	Ticker	Growth
Illumina, Inc.	ILMN	B
Waters Corporation	WAT	A

The foundation of growth investing is seeking out stocks of companies exhibiting strong, consistent and prolonged growth that is expected to continue into the future.

In order to compute the growth score and assign it a letter grade, the percentile ranks for each of three components‐consistency of annual sales growth, five-year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations‐must be determined. These three rank figures are added together, and the sum is ranked against the entire stock universe to arrive at a company’s Growth Score to create an equal distribution of grades.

The companies in the bottom 20% of the stock universe receive Growth Grades of F, considered to be very weak, while those in the top 20% receive A grades, which are considered very strong.

Illumina, Inc. has a Growth Score of 61, which is Strong. Waters Corporation has a Growth Score of 95, which is Very Strong.

The Growth Grade Winner: Waters Corporation

As you can clearly see from the Growth Grade breakdown above, Waters Corporation has a more attractive growth grade than Illumina, Inc.. For investors who focus solely on how a company is growing relative to other companies in the same industry, Waters Corporation could be a good stock to add to their portfolio. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Illumina, Inc. and Waters Corporation’s Momentum Grades

Company	Ticker	Momentum
Illumina, Inc.	ILMN	A
Waters Corporation	WAT	B

Momentum grades help to uncover stocks experiencing anomalously high rates of return; research finds that stocks with high relative levels of momentum tend to outperform, whereas those with low levels of momentum tend to continue underperforming. Momentum is based on the price change of a stock over a specified period relative to all other stocks.

Typically, AAII looks at the weighted relative strength over the trailing four quarters. The weighted four-quarter relative strength rank is the relative price change for each of the past four quarters. The most recent quarterly price change is given a weight of 40% and each of the three previous quarters are given a weighting of 20%.

Illumina, Inc. has a Momentum Score of 90, which is Very Strong. Waters Corporation has a Momentum Score of 70, which is Strong.

The Momentum Grade Winner: Illumina, Inc.

As you can clearly see from the Momentum Grade breakdown above, Illumina, Inc. is considered to have stronger momentum compared to Waters Corporation. For those specifically looking for companies that have stronger momentum compared to other companies in the same industry, Illumina, Inc. could be a good stock to invest in. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Other Illumina, Inc. and Waters Corporation Grades

In addition to Growth, Momentum and Value, A+ Investor also provides grades for Estimate Revisions and Quality.

Earnings estimate revisions scores take into account the magnitude of a company’s earnings surprise in its last two reported fiscal quarters. Often, surprises beget further surprises‐or at least continued sales growth (the exact opposite is generally true, too).

AAII’s A+ Investor Quality Grade comes from the ranking of key metrics. Specifically, the quality grade is the percentile rank of the composite of return on assets (ROA), return on invested capital (ROIC), gross profit relative to assets, buyback yield, change in total liabilities to assets, accruals, Z double prime bankruptcy risk (Z) score and F-Score.

These 2 key factors, when combined with the above, provide a holistic view into a particular stock. Further, by joining A+ Investor you can see whether Illumina, Inc. and Waters Corporation pass any of our 60+ stock screens that have outperformed the market since their creation.

So, Which Is the Better Investment, Illumina, Inc. or Waters Corporation Stock?

Overall, Illumina, Inc. stock has a Value Score of 15, Growth Score of 61 and Momentum Score of 90.

Waters Corporation stock has a Value Score of 4, Growth Score of 95 and Momentum Score of 70.

Comparing Illumina, Inc. and Waters Corporation’s grades, scores and metrics can act as a solid basis to determine whether they may be a good investment or not. You’ll also want to look at your portfolio’s asset allocation as well as your risk tolerance and financial goals to see if either of these stocks would make a good fit for you. AAII can help you figure out which investments align with your individual needs and preferences.

Investors are encouraged to do their own due diligence and research. In this way, individuals can effectively become managers of their own assets‐without having to rely on others for financial independence. You can count on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis.

A+ Investor adds to our qualitative teaching with a powerful data suite to help you whittle down investment choices to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

AAII Disclaimer

We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith, and we accept no liability for any errors or omissions. The full disclaimer can be read here.