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Friday 6 November 2026
Export WST’s income statement to Excel — free account
West Pharmaceutical Services, Inc.
WST Healthcare Medical Instruments & Supplies
West Pharmaceutical Services, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.1 billion, up 6.25% from fiscal 2024.
- Revenue
- +8.69%
- EPS
- +56.7%
- Free cash flow
- +12.3%
- Total debt
- +0.10%
Quarter to September 2026, against a year earlier
398.55
6.07
+1.55%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
42.89 | 48.54 | 35.01 | 45.97 | 60.41 | 52.58 | 29.79 | 43.70 | 48.53 | 40.28 |
Piotroski F-Score |
8 | 6 | 8 | 5 | 7 | 7 | 6 | 5 | 4 | 8 |
P/S ratio |
4.08 | 4.60 | 4.22 | 6.05 | 9.75 | 12.32 | 6.04 | 8.78 | 8.26 | 6.47 |
Altman Z-Score |
8.63 | 9.95 | 10.06 | 11.19 | 15.92 | 24.46 | 14.36 | 19.59 | 18.08 | 13.89 |
Altman Z″-Score (non-manufacturers) |
6.29 | 6.82 | 7.59 | 7.17 | 7.25 | 8.72 | 9.62 | 9.54 | 9.30 | 9.34 |
P/FCF ratio |
131.39 | 56.48 | 39.89 | 46.37 | 71.14 | 106.78 | 40.04 | 63.08 | 87.72 | 42.77 |
Beneish M-Score |
(2.55) | (2.56) | (2.57) | (2.49) | (2.60) | (2.18) | (2.52) | (2.74) | (2.51) | (2.79) |
P/Operating CF |
85.83 | 90.22 | 98.97 | 104.55 | 140.80 | 217.00 | 75.56 | 108.35 | 125.79 | 79.22 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 100 |
P/B ratio |
5.51 | 5.75 | 5.19 | 7.07 | 11.29 | 14.94 | 6.50 | 8.99 | 8.91 | 6.26 |
Price to Tangible BV |
6.22 | 6.39 | 5.70 | 7.75 | 12.22 | 15.84 | 6.81 | 9.40 | 9.32 | 6.50 |
EV/Sales |
4.10 | 4.57 | 4.14 | 5.95 | 9.58 | 12.13 | 5.80 | 8.52 | 8.17 | 6.28 |
EV/EBITDA |
21.64 | 22.68 | 20.61 | 27.35 | 39.87 | 39.26 | 19.60 | 30.89 | 32.58 | 25.52 |
EV/Operating CF |
28.19 | 27.78 | 24.61 | 29.79 | 43.54 | 58.80 | 23.14 | 32.36 | 36.16 | 25.58 |
EV/FCF |
131.89 | 56.18 | 39.11 | 45.60 | 69.91 | 105.08 | 38.46 | 61.18 | 86.68 | 41.51 |
Quick Ratio |
1.67 | 1.75 | 2.21 | 2.22 | 1.99 | 2.11 | 2.70 | 2.03 | 1.88 | 2.09 |
Current Ratio |
2.66 | 2.66 | 3.15 | 3.10 | 2.73 | 2.93 | 3.70 | 2.88 | 2.79 | 3.02 |
Net Debt/EBITDA |
0.08 | (0.12) | (0.41) | (0.46) | (0.70) | (0.63) | (0.80) | (0.96) | (0.39) | (0.78) |
Debt/Assets |
13.18% | 10.58% | 9.90% | 10.89% | 9.05% | 6.30% | 5.71% | 1.90% | 5.56% | 4.75% |
Debt/Equity |
0.20 | 0.15 | 0.14 | 0.16 | 0.14 | 0.09 | 0.08 | 0.03 | 0.08 | 0.06 |
Asset Turnover |
0.88 | 0.89 | 0.89 | 0.85 | 0.84 | 0.93 | 0.83 | 0.79 | 0.77 | 0.78 |
Operating CF/Net income |
1.53 | 1.75 | 1.39 | 1.52 | 1.36 | 0.88 | 1.24 | 1.31 | 1.33 | 1.53 |
Capex/Depreciation |
(1.88) | (1.35) | (1.00) | (1.22) | (1.60) | (2.07) | (2.36) | (2.64) | (2.43) | (1.67) |
Interest Coverage |
24.10 | 28.95 | 28.61 | 34.89 | 49.62 | 91.74 | 92.91 | 75.11 | 189.97 | 1,169.80 |
| 13.41% | 12.57% | 15.46% | 16.28% | 20.20% | 31.59% | 23.34% | 21.32% | 17.71% | 16.85% | |
| 8.42% | 8.42% | 10.77% | 11.19% | 13.48% | 21.67% | 16.91% | 15.94% | 13.19% | 12.48% | |
ROIC |
10.70% | 11.37% | 11.97% | 13.34% | 17.05% | 26.39% | 22.97% | 20.12% | 14.84% | 14.13% |
Return on Tangible Assets |
12.18% | 11.43% | 14.44% | 15.53% | 19.09% | 30.01% | 22.90% | 22.16% | 19.18% | 16.19% |
Average Days of Receivables |
48.49 | 57.79 | 61.25 | 63.34 | 65.51 | 63.03 | 64.15 | 63.35 | 69.70 | 68.20 |
Research and Development Expense of Revenue |
2.44% | 2.45% | 2.35% | 2.11% | 2.18% | 1.86% | 2.03% | 2.32% | 2.39% | 2.42% |
Selling, General and Administrative Expense of Revenue |
15.88% | 15.38% | 15.31% | 14.82% | 14.07% | 12.81% | 10.98% | 11.98% | 11.70% | 12.80% |
Intangible Assets out of Total Assets |
0.07 | 0.07 | 0.06 | 0.06 | 0.05 | 0.04 | 0.03 | 0.03 | 0.03 | 0.03 |
Share Based Compensation of Revenue |
1.29% | 1.01% | 0.88% | 1.33% | 1.58% | 1.32% | 0.82% | 0.79% | 0.65% | 0.77% |
Graham Net Nets |
0.01 | 0.02 | 0.04 | 0.03 | 0.02 | 0.02 | 0.06 | 0.04 | 0.02 | 0.04 |
Graham Number |
25.93 | 28.26 | 34.50 | 39.55 | 51.46 | 79.37 | 79.94 | 83.44 | 74.70 | 82.16 |
Earnings Yield |
2.33% | 2.06% | 2.86% | 2.18% | 1.66% | 1.90% | 3.36% | 2.29% | 2.06% | 2.48% |
Free Cash Flow Yield |
0.76% | 1.77% | 2.51% | 2.16% | 1.41% | 0.94% | 2.50% | 1.59% | 1.14% | 2.34% |
Revenue per Share |
20.59 | 21.64 | 23.24 | 24.86 | 29.05 | 38.06 | 38.80 | 39.70 | 39.63 | 42.52 |
Operating CF per Share |
2.99 | 3.56 | 3.91 | 4.96 | 6.39 | 7.85 | 9.73 | 10.45 | 8.95 | 10.44 |
Capex per Share |
(2.32) | (1.77) | (1.42) | (1.71) | (2.36) | (3.41) | (3.83) | (4.87) | (5.16) | (3.95) |
Free Cash Flow per Share |
0.67 | 1.79 | 2.49 | 3.25 | 4.03 | 4.44 | 5.91 | 5.58 | 3.79 | 6.49 |
Cash per Share |
2.77 | 3.19 | 4.57 | 5.93 | 8.33 | 10.25 | 12.02 | 11.49 | 6.64 | 10.94 |
Shareholders Equity per Share |
15.25 | 17.32 | 18.89 | 21.26 | 25.09 | 31.39 | 36.09 | 38.78 | 36.74 | 43.93 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
15.25 | 17.32 | 18.89 | 21.26 | 25.09 | 31.39 | 36.09 | 38.78 | 36.74 | 43.93 |
Free Cash Flow |
49.20 | 132.50 | 183.90 | 240.80 | 298.10 | 330.60 | 439.40 | 414.50 | 276.40 | 468.90 |
Working Capital |
400.90 | 464.00 | 610.70 | 717.10 | 870.30 | 1,147.90 | 1,400.50 | 1,264.60 | 987.70 | 1,323.30 |
Capital Expenditures |
(170.20) | (130.80) | (104.70) | (126.40) | (174.40) | (253.40) | (284.60) | (362.00) | (377.00) | (285.90) |
Net Current Asset Value |
42.70 | 160.60 | 311.80 | 290.50 | 434.40 | 763.60 | 987.60 | 987.90 | 577.00 | 884.20 |
EV/EBIT |
31.69 | 32.39 | 29.56 | 36.89 | 50.56 | 45.65 | 22.82 | 37.17 | 41.46 | 33.00 |
Capex to Sales |
0.11 | 0.08 | 0.06 | 0.07 | 0.08 | 0.09 | 0.10 | 0.12 | 0.13 | 0.09 |
Price to Operating Income |
31.57 | 32.56 | 30.15 | 37.51 | 51.45 | 46.38 | 23.76 | 38.33 | 41.96 | 34.01 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.12 | 0.11 | 0.13 | 0.12 | 0.12 | 0.12 | 0.10 | 0.10 | 0.10 | 0.10 |
Cash ROIC |
3.18% | 7.74% | 9.53% | 10.62% | 10.95% | 10.00% | 11.61% | 10.89% | 8.20% | 11.24% |
Accounts Receivable Turnover |
7.90 | 7.05 | 6.34 | 6.06 | 6.09 | 6.48 | 5.79 | 5.79 | 5.44 | 5.46 |
Accounts Payable Turnover |
8.34 | 8.35 | 8.73 | 8.59 | 7.46 | 7.44 | 7.82 | 7.95 | 7.87 | 7.99 |
Inventory Turnover |
5.30 | 5.24 | 5.46 | 5.48 | 4.95 | 4.73 | 4.41 | 4.29 | 4.67 | 4.80 |
Average Days of Payables |
44.19 | 46.41 | 40.61 | 46.37 | 56.40 | 51.19 | 44.91 | 48.60 | 46.10 | 47.00 |
Days of Inventory on Hand |
72.19 | 72.31 | 66.80 | 69.71 | 85.04 | 83.41 | 86.48 | 87.15 | 72.63 | 82.24 |
Average Receivables |
190.95 | 226.85 | 270.70 | 303.75 | 352.30 | 437.15 | 498.20 | 509.70 | 532.25 | 563.45 |
Average Payables |
120.90 | 130.05 | 134.25 | 143.60 | 184.95 | 222.65 | 223.80 | 228.90 | 240.85 | 246.50 |
Average Inventory |
190.20 | 207.25 | 214.85 | 225.10 | 278.50 | 349.85 | 396.60 | 424.75 | 405.85 | 410.45 |
Average Assets |
1,705.90 | 1,789.75 | 1,920.85 | 2,160.15 | 2,567.60 | 3,053.80 | 3,465.30 | 3,723.15 | 3,736.45 | 3,956.70 |
Average Common Equity |
1,070.70 | 1,198.70 | 1,338.10 | 1,484.75 | 1,713.85 | 2,094.95 | 2,510.15 | 2,782.95 | 2,781.65 | 2,929.15 |
Columns are period end dates · fundamentals updated 2 Nov 2026