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Waters Corporation's 2023 10-K reveals 2 point 96 billion dollars sales down 1 percent due to China weakness, offset by 7 percent service growth and Wyatt acquisition. Operating margin at 27 point 7 percent, EPS 10 dollars 84 cents. Strong liquidity with 603 million dollars cash flow supports 2 point 4 billion dollars debt; risks include geopolitics, competition, and cyber threats. Recurring revenue highlights resilience in analytical instruments sector.

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