WST · West Pharmaceutical Services Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $844.90M | - | $804.60M | $766.50M | $698.00M | - | $746.90M | $702.10M | $695.40M | - |
| Cost of Revenue | $548.50M | - | $510.30M | $492.60M | $466.10M | - | $482.20M | $472.10M | $465.20M | - |
| Gross Profit | $296.40M | - | $294.30M | $273.90M | $231.90M | - | $264.70M | $230.00M | $230.20M | - |
| R&D | $15.80M | - | $17.10M | $19.10M | $16.30M | - | $15.50M | $17.50M | $17.60M | - |
| SG&A | $99.50M | - | $102.70M | $95.90M | $88.00M | - | $83.50M | $83.00M | $86.70M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $45.20M | - | $40.20M | $38.90M | $35.60M | - | - | - | $34.70M | - |
| Operating Income | $177.10M | - | $167.60M | $153.70M | $107.00M | - | $161.30M | $126.20M | $122.80M | - |
| Interest Expense | $1.90M | - | $200.0K | $100.0K | $1.60M | - | $700.0K | $2.70M | $1.60M | - |
| Income Tax | $44.70M | - | $34.00M | $30.20M | $24.10M | - | $32.40M | $21.90M | $16.40M | - |
| Net Income | $138.80M | - | $140.00M | $131.80M | $89.80M | - | $136.00M | $111.30M | $115.30M | - |
| EPS - Basic | $1.93 | - | $1.94 | $1.82 | $1.24 | - | $1.87 | $1.52 | $1.57 | - |
| EPS - Diluted | $1.92 | - | $1.92 | $1.82 | $1.23 | - | $1.85 | $1.51 | $1.55 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $521.40M | $791.30M | $628.50M | $509.70M | $404.20M | $484.60M | $490.90M | $446.20M | $601.80M | $853.90M |
| Accounts Receivable | $685.60M | $574.40M | $625.00M | $582.40M | $543.60M | $552.50M | $524.30M | $479.40M | $524.00M | $512.00M |
| Inventory | $452.60M | $443.90M | $438.00M | $421.10M | $388.70M | $377.00M | $401.20M | $419.20M | $429.90M | $434.70M |
| Accounts Payable | $252.30M | $253.70M | $255.80M | $239.00M | $228.40M | $239.30M | $224.30M | $211.70M | $240.10M | $242.40M |
| Current Assets | $1.83B | $1.98B | $1.82B | $1.68B | $1.46B | $1.54B | $1.55B | $1.48B | $1.69B | $1.94B |
| Total Assets | $4.11B | $4.27B | $4.11B | $3.95B | $3.62B | $3.64B | $3.68B | $3.49B | $3.60B | $3.83B |
| Current Liabilities | $674.00M | $654.90M | $635.40M | $604.60M | $526.70M | $550.40M | $516.50M | $633.70M | $648.40M | $671.80M |
| Long-term Debt | $202.80M | $202.80M | $202.70M | $202.60M | $202.60M | $202.60M | $202.60M | $72.90M | $72.80M | $72.80M |
| Total Liabilities | $1.12B | $1.09B | $1.05B | $1.02B | $935.10M | $961.10M | $923.00M | $912.60M | $921.70M | $948.50M |
| Stockholders' Equity | $2.99B | $3.18B | $3.05B | $2.93B | $2.68B | $2.68B | $2.75B | $2.58B | $2.68B | $2.88B |
| Retained Earnings | $4.48B | $4.37B | $4.26B | $4.14B | $4.03B | $3.96B | $3.86B | $3.72B | $3.62B | $3.52B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $89.90M | - | - | - | $129.40M | - | - | - | $118.20M | - |
| Investing Cash Flow | ($42.70M) | - | - | - | ($71.30M) | - | - | - | ($90.60M) | - |
| Financing Cash Flow | ($308.70M) | - | - | - | ($147.00M) | - | - | - | ($271.00M) | - |
| CapEx | $42.70M | - | - | - | $71.30M | - | - | - | $90.60M | - |
| Free Cash Flow | $47.20M | - | - | - | $58.10M | - | - | - | $27.60M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 35.1% | - | 36.6% | 35.7% | 33.2% | - | 35.4% | 32.8% | 33.1% | - |
| Operating margin | 21.0% | - | 20.8% | 20.1% | 15.3% | - | 21.6% | 18.0% | 17.7% | - |
| EBITDA margin | 26.3% | - | 25.8% | 25.1% | 20.4% | - | - | - | 22.6% | - |
| Net margin | 16.4% | - | 17.4% | 17.2% | 12.9% | - | 18.2% | 15.9% | 16.6% | - |
| Free cash flow margin | 5.6% | - | - | - | 8.3% | - | - | - | 4.0% | - |
| FCF / Net income | 0.34 | - | - | - | 0.65 | - | - | - | 0.24 | - |
| R&D / Revenue | 1.9% | - | 2.1% | 2.5% | 2.3% | - | 2.1% | 2.5% | 2.5% | - |
| SG&A / Revenue | 11.8% | - | 12.8% | 12.5% | 12.6% | - | 11.2% | 11.8% | 12.5% | - |
| Effective tax rate | 24.4% | - | 19.5% | 18.6% | 21.2% | - | 19.2% | 16.4% | 12.5% | - |
| Return on assets | 3.4% | - | 3.4% | 3.3% | 2.5% | - | 3.7% | 3.2% | 3.2% | - |
| Return on equity | 4.6% | - | 4.6% | 4.5% | 3.3% | - | 4.9% | 4.3% | 4.3% | - |
| Return on invested capital | 4.2% | - | 4.1% | 4.0% | 2.9% | - | 4.4% | 4.0% | 3.9% | - |
| Liquidity | ||||||||||
| Current ratio | 2.71 | 3.02 | 2.87 | 2.78 | 2.77 | 2.79 | 3.00 | 2.34 | 2.61 | 2.88 |
| Quick ratio | 2.04 | 2.34 | 2.18 | 2.08 | 2.03 | 2.11 | 2.23 | 1.68 | 1.95 | 2.24 |
| Cash ratio | 0.77 | 1.21 | 0.99 | 0.84 | 0.77 | 0.88 | 0.95 | 0.70 | 0.93 | 1.27 |
| Leverage | ||||||||||
| Debt / Equity | 0.07 | 0.06 | 0.07 | 0.07 | 0.08 | 0.08 | 0.07 | 0.03 | 0.03 | 0.03 |
| Debt / Assets | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 | 0.02 | 0.02 | 0.02 |
| Debt / EBITDA | 0.91 | - | 0.98 | 1.05 | 1.42 | - | - | - | 0.46 | - |
| Interest coverage | 93.2x | - | 838.0x | 1537.0x | 66.9x | - | 230.4x | 46.7x | 76.8x | - |
| Equity multiplier | 1.37 | 1.34 | 1.35 | 1.35 | 1.35 | 1.36 | 1.34 | 1.35 | 1.34 | 1.33 |
| Liabilities / Assets | 0.27 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.25 | 0.26 | 0.26 | 0.25 |
| Efficiency | ||||||||||
| Asset turnover | 0.21 | - | 0.20 | 0.19 | 0.19 | - | 0.20 | 0.20 | 0.19 | - |
| Inventory turnover | 1.21 | - | 1.17 | 1.17 | 1.20 | - | 1.20 | 1.13 | 1.08 | - |
| Days sales outstanding | 296d | - | 284d | 277d | 284d | - | 256d | 249d | 275d | - |
| Days inventory outstanding | 301d | - | 313d | 312d | 304d | - | 304d | 324d | 337d | - |
| Days payable outstanding | 168d | - | 183d | 177d | 179d | - | 170d | 164d | 188d | - |
| Cash conversion cycle | 429d | - | 414d | 412d | 410d | - | 390d | 410d | 424d | - |
| Valuation | ||||||||||
| P / E | 130.5x | - | 136.6x | 120.2x | 182.0x | - | 162.2x | 218.1x | 255.3x | - |
| P / B | 6.1x | - | 6.2x | 5.4x | 6.1x | - | 8.0x | 9.4x | 11.0x | - |
| P / S | 21.5x | - | 23.7x | 20.7x | 23.4x | - | 29.5x | 34.6x | 42.3x | - |
| EV / EBITDA | 80.2x | - | 89.6x | 80.8x | 113.2x | - | - | - | 183.3x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 21.0% | - | 7.7% | 9.2% | 0.4% | - | -0.1% | -6.9% | -3.0% | - |
| Revenue CAGR (3y) | 5.6% | - | 5.4% | -0.2% | -1.0% | - | 1.9% | -1.0% | 1.2% | - |
| Revenue CAGR (5y) | 4.7% | - | 12.0% | 10.3% | 7.3% | - | 10.4% | 8.4% | 9.4% | - |
| Gross profit growth (YoY) | 27.8% | - | 11.2% | 19.1% | 0.7% | - | -8.2% | -21.1% | -15.1% | - |
| Operating income growth (YoY) | 65.5% | - | 3.9% | 21.8% | -12.9% | - | -9.0% | -30.8% | -20.9% | - |
| Net income growth (YoY) | 54.6% | - | 2.9% | 18.4% | -22.1% | - | -15.7% | -28.2% | -17.6% | - |
| EPS growth (YoY) | 56.1% | - | 3.8% | 20.5% | -20.6% | - | -13.6% | -26.7% | -16.2% | - |
| EPS CAGR (3y) | 1.2% | - | 6.5% | -9.8% | -18.7% | - | -7.1% | -15.1% | -8.0% | - |
| EPS CAGR (5y) | -0.7% | - | 12.0% | 8.5% | 4.4% | - | 19.8% | 11.4% | 16.3% | - |
| FCF growth (YoY) | -18.8% | - | - | - | 110.5% | - | - | - | -50.7% | - |
| FCF CAGR (5y) | 6.8% | - | - | - | 18.4% | - | - | - | 8.0% | - |
| Book value growth (YoY) | 11.5% | 18.4% | 10.9% | 13.7% | 0.1% | -6.9% | -4.0% | -6.2% | -3.4% | 7.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$3.07B totalProprietary Products$2.49B · 81.1%
Contract Manufactured Products$582.00M · 18.9%
Geographic
$3.07B totalUS$1.33B · 43.3%
Other Europe Countries$451.00M · 14.7%
DE$380.30M · 12.4%
Other Countries$353.30M · 11.5%
IE$333.30M · 10.8%
FR$226.60M · 7.4%
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing WEST PHARMACEUTICAL SERVICES INC against the 5 most active filers in the same SIC group.
Dividends
$0.87/share trailing 12 months · +4.8% YoY
| Ex-date | Per share |
|---|---|
| Apr 29, 2026 | $0.2200 |
| Jan 28, 2026 | $0.2200 |
| Nov 12, 2025 | $0.2200 |
| Jul 30, 2025 | $0.2100 |
| Apr 30, 2025 | $0.2100 |
| Feb 7, 2025 | $0.2100 |
| Nov 13, 2024 | $0.2100 |
| Jul 31, 2024 | $0.2000 |
| Apr 23, 2024 | $0.2000 |
| Jan 30, 2024 | $0.2000 |
| Nov 7, 2023 | $0.2000 |
| Jul 25, 2023 | $0.1900 |
| Apr 25, 2023 | $0.1900 |
| Jan 24, 2023 | $0.1900 |
| Nov 8, 2022 | $0.1900 |
| Jul 19, 2022 | $0.1800 |
| Apr 19, 2022 | $0.1800 |
| Jan 18, 2022 | $0.1800 |
| Nov 9, 2021 | $0.1800 |
| Jul 20, 2021 | $0.1700 |
| Apr 20, 2021 | $0.1700 |
| Jan 19, 2021 | $0.1700 |
| Nov 9, 2020 | $0.1700 |
| Jul 28, 2020 | $0.1600 |