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West Pharmaceutical Services, Inc.

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Key Metrics

Previous Close: $352.79
52-Week Range: $223.83 – $386.00
Market Cap: $24.90B
P/E (TTM): 45.24
EPS (TTM): 7.82
Dividend Yield: 0.25%

Advanced Metrics

Price/Book: 8.33
PEG Ratio: 3.03
Return on Equity: 19.09%
Return on Assets: 11.38%
Gross Margin: 36.79%
Operating Margin: 22.47%
Profit Margin: 16.98%
Current Ratio: 2.82
Debt/Equity: 0.11
Total Debt: $316.50M
Free Cash Flow: $277.94M
Revenue Growth: 13.80%
Earnings Growth: 18.10%
Enterprise Value: $24.78B

WST Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$2.89B	$2.95B	$2.89B	$3.07B
Cost of Revenue	$1.75B	$1.82B	$1.89B	$1.97B
Gross Profit	$1.14B	$1.13B	$998.50M	$1.10B
Research & Development	$58.50M	$68.40M	$69.10M	$74.30M
Selling, General & Admin	$316.90M	$353.40M	$338.50M	$393.60M
Operating Expenses	$375.40M	$421.80M	$407.60M	$467.90M
Operating Income	$760.80M	$707.40M	$590.90M	$636.10M
EBITDA	$808.40M	$844.30M	$743.90M	$772.80M
Pretax Income	$679.90M	$698.00M	$585.50M	$600.90M
Income Tax	$114.70M	$122.30M	$107.50M	$121.60M
Net Income	$585.90M	$593.40M	$492.70M	$493.70M
Diluted EPS	7.73	7.88	6.69	6.79
Diluted Shares	75.80M	75.30M	73.70M	72.70M

WST Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$894.30M	$853.90M	$484.60M	$791.30M
Receivables	$507.40M	$512.00M	$552.50M	$574.40M
Inventory	$414.80M	$434.70M	$377.00M	$443.90M
Current Assets	$1.92B	$1.94B	$1.54B	$1.98B
Total Assets	$3.62B	$3.83B	$3.64B	$4.27B
Current Liabilities	$519.00M	$671.80M	$550.40M	$654.90M
Long-Term Debt	$206.70M	$72.80M	$202.60M	$202.80M
Total Debt	$317.90M	$309.00M	$302.30M	$321.10M
Total Liabilities	$931.90M	$948.50M	$961.10M	$1.09B
Retained Earnings	$2.99B	$3.52B	$3.96B	$4.37B
Shareholders' Equity	$2.68B	$2.88B	$2.68B	$3.18B
Working Capital	$1.40B	$1.26B	$987.70M	$1.32B

WST Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$724.00M	$776.50M	$653.40M	$754.80M
Capital Expenditure	-$284.60M	-$362.00M	-$377.00M	-$285.90M
Free Cash Flow	$439.40M	$414.50M	$276.40M	$468.90M
Depreciation & Amortisation	$120.60M	$137.30M	$155.40M	$171.40M
Stock-Based Compensation	$23.70M	$23.30M	$18.70M	$23.80M
Investing Cash Flow	-$288.20M	-$368.70M	-$378.70M	-$285.90M
Financing Cash Flow	-$293.60M	-$459.60M	-$622.60M	-$185.10M
Dividends Paid	-$54.10M	-$57.00M	-$59.10M	-$61.20M
Share Repurchases	-$222.20M	-$451.20M	-$566.60M	-$136.80M
Net Change in Cash	$142.20M	-$51.80M	-$347.90M	$283.80M

WST Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$766.50M	$804.60M	$805.00M	$844.90M	$872.30M
Cost of Revenue	$492.60M	$510.30M	$501.10M	$548.50M	$543.10M
Gross Profit	$273.90M	$294.30M	$303.90M	$296.40M	$329.20M
Research & Development	$19.10M	$17.10M	$21.80M	$15.80M	$19.70M
Selling, General & Admin	$95.90M	$102.70M	$107.00M	$99.50M	$117.60M
Operating Expenses	$115.00M	$119.80M	—	$115.30M	$137.30M
Operating Income	$158.90M	$174.50M	$175.10M	$181.10M	$191.90M
EBITDA	$198.50M	$215.10M	$208.30M	$227.20M	$228.90M
Pretax Income	$157.00M	$171.90M	$161.50M	$180.10M	$180.10M
Income Tax	$30.20M	$34.00M	$33.30M	$44.70M	$32.20M
Net Income	$131.80M	$140.00M	$132.10M	$138.80M	$154.00M
Diluted EPS	1.82	1.92	1.82	1.92	2.15
Diluted Shares	72.50M	72.60M	72.70M	72.40M	71.30M

WST Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$509.70M	$628.50M	$791.30M	$521.40M	$435.80M
Receivables	$582.40M	$625.00M	$574.40M	$685.60M	$712.00M
Inventory	$421.10M	$438.00M	$443.90M	$452.60M	$447.40M
Current Assets	$1.68B	$1.82B	$1.98B	$1.83B	$1.81B
Total Assets	$3.95B	$4.11B	$4.27B	$4.11B	$4.08B
Current Liabilities	$604.60M	$635.40M	$654.90M	$674.00M	$640.50M
Long-Term Debt	$202.60M	$202.70M	$202.80M	$202.80M	$202.90M
Total Debt	$303.30M	$297.60M	$321.10M	$316.20M	$312.10M
Total Liabilities	$1.02B	$1.05B	$1.09B	$1.12B	$1.09B
Retained Earnings	$4.14B	$4.26B	$4.37B	$4.48B	$4.62B
Shareholders' Equity	$2.93B	$3.05B	$3.18B	$2.99B	$2.99B
Working Capital	$1.08B	$1.19B	$1.32B	$1.15B	$1.17B

WST Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$177.10M	$197.20M	$251.10M	$89.90M	$124.00M
Capital Expenditure	-$75.20M	-$63.30M	-$76.10M	-$42.70M	-$43.20M
Free Cash Flow	$101.90M	$133.90M	$175.00M	$47.20M	$80.80M
Depreciation & Amortisation	$41.40M	$43.00M	$47.00M	$45.20M	$46.20M
Stock-Based Compensation	$7.40M	$8.40M	$6.70M	$6.60M	$10.90M
Investing Cash Flow	-$75.20M	-$63.30M	-$76.10M	-$42.70M	-$43.20M
Financing Cash Flow	-$14.90M	-$11.50M	-$11.70M	-$308.70M	-$164.80M
Dividends Paid	-$15.10M	-$15.10M	-$15.80M	-$15.80M	-$15.70M
Share Repurchases	-$500.00K	-$100.00K	-$200.00K	-$300.10M	-$156.70M
Net Change in Cash	$87.00M	$122.40M	$163.30M	-$261.50M	-$84.00M

Market Snapshot

About

West Pharmaceutical Services, Inc. is a global leader in designing and manufacturing injectable drug delivery systems and solutions for the pharmaceutical, biotechnology, and generic drug industries. The company produces components and systems including stoppers, seals, syringes, and advanced drug delivery devices that ensure the safe and effective delivery of injectable medicines.