Saturday 31 October 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. In the quarter to June 2026, revenue grew 13.8%, EPS grew 19.2%, free cash flow fell 20.7% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years.

412.88 3.79 −0.91%

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Market cap: $29.3B
P/E: 52.5×
Fwd P/E: 48.1×
Dividend yield: 0.28%
F-score: 8/9
Altman Z: 13.89
Beneish M: −2.79
Dividend safety: 100/100

Overview Business Profile Earnings & Analysis Segments Filings

West Pharmaceutical Services, Inc. (WST) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Proprietary Products	2,492	81.07%
West Vantage	582	18.93%
Gross margin		35.91%
Operating margin		19.03%
Pre-tax margin		19.55%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Proprietary Products	2,492 81.07%	2,335 80.69%	2,397 81.27%	2,407 83.37%	2,317 81.84%	1,649 76.79%	1,399 76.02%	1,309 76.20%	1,237 77.35%	1,190 78.85%	1,098 78.46%	1,126 79.24%	996 72.79%	915 72.26%	857 71.91%	785 71.06%	776 73.51%
West Vantage	582 18.93%	559 19.31%	553 18.73%	480 16.64%	515 18.18%	499 23.22%	442 24.00%	409 23.82%	363 22.67%	320 21.22%	302 21.60%	296 20.80%	374 27.34%	352 27.80%	337 28.24%	324 29.34%	285 27.00%
Corporate and Eliminations	—	—	—	—	—	—	—	—	0 (0.02%)	(1) (0.07%)	(1) (0.06%)	(1) (0.04%)	(2) (0.12%)	(1) (0.06%)	(2) (0.15%)	(4) (0.40%)	—
Intersegment Eliminations	—	—	—	—	—	—	—	—	0 (0.02%)	(1) (0.07%)	(1) (0.06%)	(1) (0.04%)	(2) (0.12%)	(1) (0.06%)	(2) (0.15%)	(4) (0.40%)	—
Other Unallocated Items	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	(5) (0.50%)
Revenue	3,074	2,893	2,950	2,887	2,832	2,147	1,840	1,717	1,599	1,509	1,400	1,421	1,368	1,266	1,192	1,105	1,056

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Proprietary Products	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
West Vantage	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and Eliminations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Other Unallocated Items	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
United States	1,330 43.25%	1,231 42.54%	1,239 41.99%	1,287 44.56%	1,198 42.31%	976 45.44%	815 44.28%	766 44.61%	735 45.94%	738 48.92%	667 47.68%	631 44.37%	589 43.02%	593 46.81%	544 45.59%	528 47.81%	503 47.63%
Other European countries	451 14.67%	386 13.32%	388 13.16%	359 12.44%	341 12.05%	237 11.03%	251 13.65%	231 13.42%	201 12.57%	268 17.78%	252 18.00%	285 20.05%	279 20.41%	251 19.85%	243 20.36%	226 20.42%	209 19.83%
Germany	380 12.37%	373 12.88%	406 13.77%	399 13.81%	474 16.75%	282 13.14%	236 12.84%	236 13.74%	226 14.16%	201 13.29%	194 13.86%	219 15.44%	220 16.05%	184 14.56%	184 15.44%	152 13.71%	148 14.05%
Other	353 11.49%	339 11.72%	349 11.81%	364 12.62%	357 12.62%	254 11.82%	213 11.60%	202 11.75%	194 12.13%	186 12.30%	179 12.77%	168 11.83%	168 12.29%	135 10.68%	128 10.71%	110 9.99%	90 8.53%
Ireland	333 10.84%	323 11.17%	286 9.69%	240 8.32%	248 8.74%	226 10.53%	174 9.45%	138 8.04%	101 6.28%	—	—	—	—	—	—	—	—
France	227 7.37%	242 8.37%	283 9.59%	238 8.24%	213 7.52%	173 8.04%	151 8.19%	145 8.44%	143 8.92%	116 7.71%	108 7.69%	118 8.32%	113 8.23%	103 8.10%	94 7.90%	89 8.06%	105 9.97%
Revenue	3,074	2,893	2,950	2,887	2,832	2,147	1,840	1,717	1,599	1,509	1,400	1,421	1,368	1,266	1,192	1,105	1,056

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
HVP Components accounted for total company net sales	Q3 FY2026	53.0%	—	—
HVP Delivery Devices accounted for total company net sales	Q3 FY2026	11.0%	—	—
Standard Products accounted for total company net sales	Q3 FY2026	19.0%	—	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025
HVP Components accounted for total company net sales	‡	‡	‡	‡
HVP Delivery Devices accounted for total company net sales	‡	‡	‡	‡
Standard Products accounted for total company net sales	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.