Overview
WEST PHARMACEUTICAL SERVICES INC
Latest 10-K: FY2025, filed Feb 17, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $3.07B
- 6.3%YoYup from FY2024
- TotalRevenue
- Gross profit
- $1.10B
- 10.6%YoYup from FY2024
- GrossProfit
- Operating income
- $0.58B
- 2.6%YoYup from FY2024
- OperatingIncome
- Net income
- $0.49B
- 0.2%YoYup from FY2024
- NetIncome
- Diluted EPS
- $6.79
- 1.5%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 72.7M
- 1.4%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- WEST PHARMACEUTICAL SERVICES INC reported revenue of $3.07B for fiscal 2025, up 6.3% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 1 of the last 5 fiscal years.
Profitability
- Operating margin was 19.0% and net margin was 16.1%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $6.79, up 1.5% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $3.07B6.3%up Benchmark median 6.4% | $2.89B1.9%down Benchmark median 4.5% | $2.95B2.2%up Benchmark median 4.8% | $2.89B2.0%up Benchmark median 10.3% | $2.83B31.9%up Benchmark median 13.8% | 2.1% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $1.10B10.6%up Benchmark median 6.8% | $1.00B11.6%down Benchmark median 5.5% | $1.13B0.6%down Benchmark median 5.2% | $1.14B3.4%down Benchmark median 8.3% | $1.18B53.1%up Benchmark median 15.7% | -1.6% Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $584.90M2.6%up Benchmark median 7.3% | $569.90M15.7%down Benchmark median 7.4% | $676.00M7.9%down Benchmark median 4.9% | $734.00M2.4%down Benchmark median 7.5% | $752.30M84.9%up Benchmark median 23.5% | -6.1% Benchmark median 7.2% |
| Net Income | $493.70M0.2%up Benchmark median 4.8% | $492.70M17.0%down Benchmark median 5.7% | $593.40M1.3%up Benchmark median 1.9% | $585.90M11.5%down Benchmark median 1.3% | $661.80M91.2%up Benchmark median 33.9% | -7.1% Benchmark median 4.1% |
| EPS (Diluted) | $6.791.5%up Benchmark median 6.2% | $6.6915.1%down Benchmark median 7.9% | $7.881.9%up Benchmark median 1.9% | $7.7310.8%down Benchmark median 1.5% | $8.6789.7%up Benchmark median 34.8% | -5.9% Benchmark median 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $4.27B17.2%up Benchmark median 5.6% | $3.64B4.9%down Benchmark median 3.4% | $3.83B5.9%up Benchmark median 4.1% | $3.62B9.1%up Benchmark median 2.2% | $3.31B18.6%up Benchmark median 6.7% | 6.5% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $1.09B13.8%up Benchmark median 6.4% | $0.96B1.3%up Benchmark median 1.9% | $0.95B1.8%up Benchmark median 2.9% | $0.93B4.8%down Benchmark median 2.0% | $0.98B4.2%up Benchmark median 5.2% | 2.8% Benchmark median 4.4% |
| Stockholders' Equity | $3.18B18.4%up Benchmark median 6.8% | $2.68B6.9%down Benchmark median 5.4% | $2.88B7.3%up Benchmark median 7.3% | $2.68B15.0%up Benchmark median 2.5% | $2.34B25.9%up Benchmark median 9.0% | 8.0% Benchmark median 6.1% |
| Cash & Equivalents | $791.30M63.3%up Benchmark median 5.2% | $484.60M43.2%down Benchmark median 1.9% | $853.90M4.5%down Benchmark median 6.7% | $894.30M17.3%up Benchmark median -8.6% | $762.60M23.9%up Benchmark median -2.9% | 0.9% Benchmark median 2.0% |
| Total Debt | $202.80M0.1%up Benchmark median 2.1% | $202.60M2.0%down Benchmark median 0.2% | $206.80M1.0%down Benchmark median 0.3% | $208.90M17.4%down Benchmark median 0.1% | $253.00M0.9%down Benchmark median -0.1% | -5.4% Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $754.80M15.5%up Benchmark median 6.3% | $653.40M15.9%down Benchmark median 4.8% | $776.50M7.3%up Benchmark median 9.9% | $724.00M24.0%up Benchmark median -0.7% | $584.00M23.6%up Benchmark median 10.7% | 6.6% Benchmark median 7.0% |
| Capital Expenditures | $285.90M24.2%down Benchmark median 5.4% | $377.00M4.1%up Benchmark median 2.8% | $362.00M27.2%up Benchmark median 11.3% | $284.60M12.3%up Benchmark median 14.0% | $253.40M45.3%up Benchmark median 8.1% | 3.1% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $468.90M69.6%up Benchmark median 7.3% | $276.40M33.3%down Benchmark median 6.1% | $414.50M5.7%down Benchmark median 8.8% | $439.40M32.9%up Benchmark median -11.3% | $330.60M10.9%up Benchmark median 10.2% | 9.1% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
2.5%
Wall Street
on net earnings
FY2024 2.0%
2.3%
Value investor
on free cash flow
FY2024 1.1%
Gap −0.2 pts: Value-investor figure 0.2 points lower
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 40.5×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
3.9%
Wall Street
on EBITDA
FY2024 3.0%
3.0%
Value investor
on EBIT
FY2024 2.4%
Gap −0.9 pts: Value-investor figure 0.9 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 25.7×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
15.9%
Wall Street
on book equity
FY2024 11.1%
15.3%
Value investor
on tangible book
FY2024 10.6%
Gap −0.6 pts: Value-investor figure 0.6 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 6.3×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
16.9%
Wall Street
ROE: net income ÷ equity
FY2024 17.7%
16.6%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 17.9%
Gap −0.3 pts: Value-investor figure 0.3 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
24.6%
Wall Street
EBITDA margin
FY2024 25.1%
15.3%
Value investor
Free-cash-flow margin
FY2024 9.6%
Gap −9.3 pts: Value-investor figure 9.3 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
3.02×
Wall Street
Current ratio
FY2024 2.79×
2.34×
Value investor
Quick ratio, inventory excluded
FY2024 2.11×
Gap −0.68×: Value-investor figure 0.68 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
3.73×
Wall Street
EBITDA ÷ total debt
FY2024 3.58×
2.31×
Value investor
FCF ÷ total debt
FY2024 1.36×
Gap −1.42×: Value-investor figure 1.42 lower
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net cashValue investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Balance sheet · Interest cover
How many times earnings pay the year's interest
50.1×
Wall Street
EBITDA ÷ interest
FY2024 44.8×
38.7×
Value investor
EBIT ÷ interest
FY2024 35.2×
Gap −11.4×: Value-investor figure 11.4 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on WST yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on WST and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/WST
Valuein. (2026, October 31). WEST PHARMACEUTICAL SERVICES INC (WST) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/WST
@misc{valuein_wst_2026,
author = {{Valuein}},
title = {WEST PHARMACEUTICAL SERVICES INC (WST) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/WST}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 17, 2026 · accession 0000105770-26-000010
Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.
point-in-time · survivorship-free · every number traceable to its SEC filing
Index names are trademarks of their owners; Valuein is not affiliated with or endorsed by any index provider.