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West Pharmaceutical Services, Inc. WST SPX

Healthcare · Medical Instruments & Supplies · United States
https://www.westpharma.com

West Pharmaceutical Services, Inc. designs, manufactures, and sells containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Proprietary Products and Contract-Manufactured Products. The Proprietary Products segment offers stoppers and seals for injectable packaging systems; syringe and cartridge components, including custom solutions for the needs of injectable drug applications, as well as administration systems that enhance the safe delivery of drugs through advanced reconstitution, mixing, and transfer technologies; and films, coatings, washing, and vision inspection and sterilization processes and services to enhance the quality of packaging products. This segment also provides drug containment solutions in the form of vials, syringes, and cartridges; and self-injection devices; and a range of integrated solutions, including analytical lab services, pre-approval primary packaging support and engineering development, regulatory expertise, and after-sales technical support. This segment serves biologic, generic, and pharmaceutical drug companies. The Contract-Manufactured Products segment is involved in the design, manufacture, and automated assembly of devices used in surgical, diagnostic, ophthalmic, injectable, and other drug delivery systems, as well as consumer products. This segment primarily serves pharmaceutical, diagnostic, and medical device companies. It sells and distributes its products through its sales force and distribution network, contract sales agents, and regional distributors. West Pharmaceutical Services, Inc. was founded in 1923 and is headquartered in Exton, Pennsylvania.

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$322.81
+53.60% 1Y

Market & Price

Market Cap
$22.81B
Current Price
$322.81
High / Low (52W)
$325.92 / $208.70
Beta
1.17

Valuation

Stock P/E
43.10
Industry PE
23.65
Forward P/E
33.79
PEG Ratio
3.11
Book Value
$42.18
Price to Book
7.65
P/S
7.08
EV/EBITDA
25.99
Dividend Yield
0.27%

Profitability & Returns

ROCE
16.28%
ROE
19.13%
ROA
11.21%
Profit Margin
16.85%
Op Margin
21.70%
EPS (Latest Qtr)
$1.92
EPS (TTM)
$7.49

Balance Sheet & Liquidity

Debt/Equity
0.11
Quick Ratio
1.81
Current Ratio
2.71
Debt
$321.00M
Total Assets
$4.27B
Current Assets
$1.98B
Working Capital
$1.32B

Ownership

Promoter Holding
0.64%
Chg in Prom Hold
-
FII / Inst Holding
103.89%
Chg in FII Hold
0.00%

Financial Snapshot

Enterprise Value
$22.61B
Total Revenue (TTM)
$3.22B
EBITDA
$869.90M
Free Cash Flow
$275.66M
Operating Cash Flow
$715.30M
Shares Outstanding
70.65M
Gross Margin
36.28%
Payout Ratio
11.50%

Growth (CAGR)

Revenue 5Y
2.12%
Profit 5Y
-5.55%
Revenue (YoY)
21.00%
Earnings (YoY)
56.10%

PROS

  • Generates positive free cash flow.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

  • Earnings shrank at -5.5% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Healthcare).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 WST West Pharmaceutical Services, Inc. SPX 322.81 43.10 $22.81B 0.27% 16.28% 19.13% 2.12% -5.55%
2 LLY Eli Lilly and Company SPX 1,105.00 39.21 $985.37B 0.63% 38.44% 107.46% 31.69% 48.96%
3 JNJ Johnson & Johnson SPX 225.33 26.11 $542.42B 2.38% 23.13% 26.42% 5.60% 14.32%
4 UNH UnitedHealth Group Incorporated SPX 380.31 28.66 $345.38B 2.32% 9.60% 12.18% 11.35% -15.69%
5 MRK Merck & Co., Inc. SPX 118.72 33.44 $293.22B 2.86% 20.66% 18.94% 3.12% 7.93%
6 TMO Thermo Fisher Scientific Inc. SPX 492.51 27.11 $183.03B 0.38% 9.17% 13.52% -0.27% -1.19%
7 AMGN Amgen Inc. NDXSPX 336.79 23.42 $181.77B 2.99% 18.02% 101.32% 11.77% 5.58%
8 GILD Gilead Sciences, Inc. NDXSPX 134.43 18.29 $166.90B 2.44% 22.92% 43.36% 2.57% 22.83%
9 ISRG Intuitive Surgical, Inc. NDXSPXAI 424.64 51.53 $150.39B - 15.96% 17.23% 17.39% 29.26%
Ad space

Quarterly Results

Figures in USD.

Metric Jun 2014Sep 2014Mar 2015Jun 2015Sep 2015Mar 2016Jun 2016Sep 2016Mar 2017Jun 2017Sep 2017Mar 2018Jun 2018Sep 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Mar 2022Jun 2022Sep 2022Mar 2023Jun 2023Sep 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue --------------443.50M469.70M456.10M470.60M491.50M527.20M548.00M580.20M670.70M723.60M706.50M720.00M771.30M686.90M716.60M753.80M747.40M695.40M702.10M--698.00M766.50M804.60M805.00M844.90M
Cost of Revenue -----------------------------------466.10M492.60M510.30M501.10M548.50M
Gross Profit 121.80M109.90M109.70M118.20M108.30M123.30M133.30M121.10M134.20M125.00M125.10M134.40M142.20M135.60M146.80M157.90M147.80M153.20M167.00M195.10M194.60M211.10M271.90M315.10M288.20M284.60M321.50M268.00M271.30M291.40M288.30M230.20M230.00M--231.90M273.90M294.30M303.90M296.40M
Operating Expenses ----------------------------------103.80M104.30M115.00M119.80M-115.30M
Operating Income 54.10M44.00M47.80M39.10M-3.50M30.00M61.20M51.30M60.50M42.00M62.90M53.40M60.30M60.80M70.70M80.50M67.30M-88.00M103.60M99.20M-175.60M211.30M181.40M189.70M228.40M186.20M155.30M182.50M177.30M122.80M126.20M--127.60M158.90M174.50M175.10M181.10M
EBITDA -----------------------------------150.90M198.50M215.10M208.30M227.20M
Interest Expense -----------------------------------400.00K100.00K200.00K-200.00K1.90M
Pretax Income -----------------------------------110.50M157.00M171.90M161.50M180.10M
Tax Provision -----------------------------------24.10M30.20M34.00M33.30M44.70M
Net Income --------------55.40M66.10M56.30M63.90M74.30M91.20M82.30M98.40M151.20M187.30M175.60M173.80M188.50M120.60M140.00M155.10M161.30M115.30M111.30M--89.80M131.80M140.00M132.10M138.80M
Diluted EPS 0.520.430.450.380.020.300.600.500.810.510.670.580.750.730.730.880.750.840.991.211.091.291.992.472.312.292.481.591.852.062.141.551.51--1.231.821.921.821.92
R&D Expense 9.90M9.60M7.50M8.10M8.50M9.40M8.80M9.00M10.30M10.00M9.10M9.60M10.80M10.10M9.80M9.60M9.30M-10.70M10.80M12.50M-12.20M13.80M13.10M14.60M14.40M13.60M17.10M16.50M16.40M17.60M17.50M15.50M-16.30M19.10M17.10M-15.80M

Profit & Loss (Annual)

Figures in USD.

Metric Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue ----------1.72B1.84B2.15B-2.89B2.95B2.89B3.07B
Cost of Revenue --------------1.75B1.82B1.89B1.97B
Gross Profit 302.60M303.60M318.10M339.30M387.70M434.70M447.80M455.80M501.40M512.90M545.40M605.70M767.80M-1.14B1.13B998.50M1.10B
Operating Expenses --------------375.40M421.80M407.60M467.90M
Operating Income 124.10M97.50M90.70M109.60M135.10M162.40M182.00M128.60M195.20M225.80M240.30M296.60M406.90M-760.80M707.40M590.90M636.10M
EBITDA --------------808.40M844.30M743.90M772.80M
Interest Expense --------------7.90M9.00M3.00M500.00K
Pretax Income --------------679.90M698.00M585.50M600.90M
Tax Provision --------------114.70M122.30M107.50M121.60M
Net Income 86.00M72.60M65.30M-------206.90M241.70M346.20M-585.90M593.40M492.70M493.70M
Diluted EPS 2.502.121.891.081.151.571.751.301.911.992.743.214.57-7.737.886.696.79
R&D Expense 18.70M19.90M23.90M29.10M33.20M37.90M37.30M34.10M36.80M39.10M40.30M38.90M46.90M52.80M58.50M68.40M69.10M74.30M

Compounded Sales Growth

5 Years:2.12%
1 Year:21.00%

Compounded Profit Growth

5 Years:-5.55%
1 Year:56.10%

Stock Price Performance

1 Year:+53.60%
6 Months:+15.14%
3 Months:+27.02%
1 Month:+9.29%

Balance Sheet (Annual)

Figures in USD.

Metric Dec 2007Dec 2008Dec 2009Dec 2010Sep 2011Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets --1.27B1.29B-1.40B1.56B1.67B1.67B1.70B1.72B1.86B1.98B2.34B2.79B-3.62B3.83B3.64B4.27B
Current Assets ----------------1.92B1.94B1.54B1.98B
Cash & Equivalents 108.40M87.20M83.10M110.20M161.90M91.80M161.90M230.00M255.30M274.60M203.00M235.90M337.40M439.10M615.50M-894.30M853.90M484.60M791.30M
Inventory ----------------414.80M434.70M377.00M443.90M
Receivables ----------------507.40M512.00M552.50M574.40M
Total Liabilities --691.90M668.60M-744.20M835.10M765.20M712.80M671.20M599.20M582.90M582.60M768.20M939.30M-931.90M948.50M961.10M1.09B
Current Liabilities --171.10M169.70M-243.20M261.80M236.90M252.50M314.30M241.00M279.50M283.70M341.60M503.40M-519.00M671.80M550.40M654.90M
Long Term Debt --379.10M358.10M-299.30M378.80M371.30M308.30M228.90M226.20M197.00M196.00M255.00M252.90M-206.70M72.80M202.60M202.80M
Total Debt ----------------317.90M309.00M302.30M321.10M
Total Equity -----------1.28B1.40B1.57B1.85B-2.68B2.88B2.68B3.18B
Shares Outstanding ----------------75.30M75.30M75.30M75.34M

Cash Flows (Annual)

Figures in USD.

Metric Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow 135.00M137.70M138.30M130.70M187.40M220.50M182.90M212.40M219.40M263.30M288.60M367.20M472.50M-724.00M776.50M653.40M754.80M
Investing Cash Flow -119.70M-121.90M-74.00M-120.50M-116.00M-149.90M-104.00M-129.50M-175.80M-133.60M-100.80M-228.00M-179.50M--288.20M-368.70M-378.70M-285.90M
Financing Cash Flow -29.40M-22.60M-34.00M-24.70M-3.40M-5.10M-30.80M-41.50M-113.90M-109.00M-80.70M-36.80M-137.10M--293.60M-459.60M-622.60M-185.10M
Capital Expenditure -138.60M-104.90M-71.10M-95.40M-131.30M-151.90M-111.90M-131.60M-170.20M-130.80M-104.70M-126.40M-174.40M--284.60M-362.00M-377.00M-285.90M
Free Cash Flow -3.60M32.80M67.20M35.30M56.10M68.60M71.00M80.80M49.20M132.50M183.90M240.80M298.10M-439.40M414.50M276.40M468.90M
Net Change in Cash --------------142.20M-51.80M-347.90M283.80M
Share Buybacks 5.20M1.30M2.10M3.50M4.70M-0052.20M74.40M70.80M83.10M115.50M137.10M202.80M438.30M560.90M134.00M

Ratios (Annual)

Figures in %.

Metric Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % ----------31.8%32.9%35.8%-39.4%38.3%34.5%35.9%
Operating Margin % ----------14.0%16.1%19.0%-26.4%24.0%20.4%20.7%
Net Margin % ----------12.0%13.1%16.1%-20.3%20.1%17.0%16.1%
ROE % ----------14.8%15.4%18.7%-21.8%20.6%18.4%15.5%
ROCE % -8.9%8.1%9.5%10.4%11.3%12.8%9.3%13.2%14.3%14.2%14.8%17.8%-24.6%22.4%19.1%17.6%

Shareholding Pattern

Insiders
0.64%
Institutions
103.89%
Public Float
104.56%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 9.68% 6.84M $2.21B
2 Vanguard Capital Management LLC 6.63% 4.68M $1.51B
3 Vanguard Portfolio Management LLC 5.79% 4.09M $1.32B
4 State Street Corporation 4.66% 3.29M $1.06B
5 Artisan Partners Limited Partnership 3.76% 2.66M $857.99M
6 Bank Of New York Mellon Corporation 3.49% 2.47M $796.00M
7 T. Rowe Price Investment Management, Inc. 3.31% 2.34M $755.51M
8 Generation Investment Management LLP 3.18% 2.24M $724.38M
9 Geode Capital Management, LLC 2.71% 1.91M $617.36M
10 Morgan Stanley 2.06% 1.46M $470.75M

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