Saturday 17 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.

382.92 0.10 −0.03%

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Market cap: $27.0B
P/E: 48.7×
Fwd P/E: 37.3×
Dividend yield: 0.23%
F-score: 8/9
Altman Z: 13.89
Beneish M: −2.79
Dividend safety: 100/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 6.57

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	2	—	—	—	—	2	—

Insider Ownership 1.34%

Capital & Financial Ratios $m

Market Cap 26,960.00

Revenue 3,326.80

Net Income 564.90

Free Cash Flow 436.90

Net Debt (232.90)

Current Ratio 2.82

Debt/Equity 0.07

P/E ratio 48.66

Fwd P/E 37.30

P/S ratio 8.15

P/B ratio 9.07

Past 5Y EPS Growth 8.24%

This Y EPS Growth 23.15%

Next Y EPS Growth 11.68%

Next Y revenue growth 9.79%

Next 5Y EPS Growth 16.27%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 65.98%

10-year low 10-year high

P/S against its own 10 years 67.16%

10-year low 10-year high

P/B against its own 10 years 67.16%

10-year low 10-year high

EV/Sales against its own 10 years 68.12%

10-year low 10-year high

EV/FCF against its own 10 years 52.89%

10-year low 10-year high

Dividends

Payout Ratio 0.11

Annual Dividend Rate 0.88

Annual Dividend Yield 0.23%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.85	0.22 0.22 0.22
2025	0.85	0.21 0.21 0.21 0.22
2024	0.81	0.20 0.20 0.20 0.21
2023	0.77	0.19 0.19 0.19 0.20
2022	0.73	0.18 0.18 0.18 0.19
2021	0.69	0.17 0.17 0.17 0.18
2020	0.65	0.16 0.16 0.16 0.17
2019	0.61	0.15 0.15 0.15 0.16
2018	0.57	0.14 0.14 0.14 0.15
2017	0.53	0.13 0.13 0.13 0.14
2016	0.49	0.12 0.12 0.12 0.13

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	854	485	791	436
Receivables	512	553	574	712
Inventory	435	377	444	447
Other	136	124	169	212
	1,936	1,538	1,978	1,808

	2023	2024	2025	Q'26
Payables	242	239	254	253
ST’ Debt	—	—	—	—
Other	155	188	215	171
	672	550	655	641

Compound Annual Growth %

	10y	5y	3y
Sales	8.18%	7.44%	2.12%
Cash Flow	13.52%	9.82%	1.40%
Earnings	17.84%	7.36%	(5.55%)
Book Value	11.99%	11.36%	5.76%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	845	872	—	—	—
’25	698	767	805	805	3,074
’24	695	702	747	749	2,893
’23	717	754	747	732	2,950
’22	720	771	687	709	2,887
’21	671	724	707	731	2,832
’20	492	527	548	580	2,147

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	90	124	—	—	—
’25	129	177	197	251	755
’24	118	165	180	190	653
’23	138	169	230	239	777
’22	151	173	169	231	724
’21	89	144	190	161	584
’20	57	148	119	149	473

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	47	81	—	—	—
’25	58	102	134	175	469
’24	28	65	99	85	276
’23	56	94	134	130	415
’22	85	107	111	136	439
’21	34	88	125	84	331
’20	25	107	71	91	298

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.92	2.15	—	—	—
’25	1.23	1.82	1.92	1.82	6.79
’24	1.55	1.51	1.85	1.78	6.69
’23	1.85	2.06	2.14	1.83	7.88
’22	2.29	2.48	1.59	1.36	7.73
’21	1.99	2.47	2.31	1.93	8.67
’20	0.99	1.21	1.09	1.29	4.57

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	53.88	77.97	82.74	93.08	124.53	253.86	206.19	225.66	265.00	187.43	Analyst estimates 2026–2028 Powerpack
	High	86.50	103.36	125.09	152.12	305.00	475.35	468.05	415.73	413.70	348.90
People
People	Employees	7,100	7,500	7,700	8,200	9,200	10,065	13,550	10,600	10,600	10,800
	Revenue/emp, $m	0.21	0.21	0.22	0.22	0.23	0.28	0.21	0.28	0.27	0.28
Income, $m
Income, $m	Revenue	1,509	1,599	1,717	1,840	2,147	2,832	2,887	2,950	2,893	3,074
	Gross margin, %	33.23	32.07	31.76	32.92	35.76	41.52	39.36	38.28	34.51	35.91
	EBT	190	222	241	292	401	749	680	698	586	601
	EBT margin, %	12.58	13.91	14.02	15.86	18.69	26.45	23.55	23.66	20.24	19.55
	Net income	144	151	207	242	346	662	586	593	493	494
	Depreciation	91	97	104	103	109	122	121	137	155	171
Per share, $
Per share, $	Revenue	20.59	21.64	23.24	24.86	29.05	38.06	38.80	39.70	39.63	42.52
	Earnings	1.96	2.04	2.80	3.27	4.68	8.89	7.87	7.98	6.75	6.83
	Cash flow	2.99	3.56	3.91	4.96	6.39	7.85	9.73	10.45	8.95	10.44
	Capex	(2.32)	(1.77)	(1.42)	(1.71)	(2.36)	(3.41)	(3.83)	(4.87)	(5.16)	(3.95)
	Free cash flow	0.67	1.79	2.49	3.25	4.03	4.44	5.91	5.58	3.79	6.49
	Book value	15.25	17.32	18.89	21.26	25.09	31.39	36.09	38.78	36.74	43.93
	Shares, m	73	74	74	74	74	74	74	74	73	72
Valuation, ×
Valuation, ×	P/E	42.89	48.54	35.01	45.97	60.41	52.58	29.79	43.70	48.53	40.28
	P/S	4.08	4.60	4.22	6.05	9.75	12.32	6.04	8.78	8.26	6.47
	P/B	5.51	5.75	5.19	7.07	11.29	14.94	6.50	8.99	8.91	6.26
	EV/Sales	4.10	4.57	4.14	5.95	9.58	12.13	5.80	8.52	8.17	6.28
	EV/FCF	131.89	56.18	39.11	45.60	69.91	105.08	38.46	61.18	86.68	41.51
Cash, $m
Cash, $m	Operating cash flow	219	263	289	367	473	584	724	777	653	755
	Capex	(170)	(131)	(105)	(126)	(174)	(253)	(285)	(362)	(377)	(286)
	Free cash flow	49	133	184	241	298	331	439	415	276	469
Balance, $m
Balance, $m	Working capital	401	464	611	717	870	1,148	1,401	1,265	988	1,323
	Total debt	226	197	196	255	253	209	207	73	203	203
	Net debt	23	(39)	(141)	(184)	(363)	(554)	(688)	(781)	(282)	(588)
	Shareholders’ equity	1,118	1,280	1,396	1,573	1,855	2,335	2,685	2,881	2,682	3,176
Returns, %
Returns, %	ROA	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
	ROE	13.41	12.57	15.46	16.28	20.20	31.59	23.34	21.32	17.71	16.85

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
BDX Becton, Dickinson and Company	$52.8B	57.8×	37.7×	+5.44% (above 0%: growing)	−31.50% (below 0%: shrinking)	−31.57% (below 0%: shrinking)	46.46%	13.31%	Compare
MDLN Medline Inc.	$48.1B	—	—	+15.67% (above 0%: growing)	—	+3.42% (above 0%: growing)	28.82%	5.14%	Compare
RMD ResMed Inc.	$34.1B	22.8×	16.6×	+8.58% (above 0%: growing)	+2.32% (above 0%: growing)	−21.31% (below 0%: shrinking)	58.84%	30.66%	Compare
ALC Alcon	$32.1B	50.5×	31.0×	+8.74% (above 0%: growing)	n/m	−0.54% (below 0%: shrinking)	59.33%	0.39%	Compare
WST West Pharmaceutical Services, Inc.	$27.0B	48.7×	37.3×	+13.80% (above 0%: growing)	+19.23% (above 0%: growing)	−20.71% (below 0%: shrinking)	37.74%	20.53%
SOLV Solventum Corporation	$15.0B	10.4×	39.0×	+2.22% (above 0%: growing)	+1.92% (above 0%: growing)	+144.07% (above 0%: growing)	58.22%	8.19%	Compare
BAX Baxter International Inc.	$13.3B	— (loss-making)	44.7×	+5.34% (above 0%: growing)	+33.33% (above 0%: growing)	+119.48% (above 0%: growing)	34.86%	7.33%	Compare
RGEN Repligen Corporation	$11.7B	234×	112×	+11.93% (above 0%: growing)	−65.38% (below 0%: shrinking)	+27.10% (above 0%: growing)	53.91%	6.85%	Compare
COO The Cooper Companies, Inc.	$10.9B	19.8×	28.7×	+0.56% (above 0%: growing)	+357.14% (above 0%: growing)	+65.96% (above 0%: growing)	66.77%	20.82%	Compare
Median of peers	$23.5B	36.7×	37.7×	+7.01%	+2.12%	+15.26%	56.07%	7.76%

All 55 Medical Instruments & Supplies stocks →

West Pharmaceutical Services, Inc. (WST) key facts

Strength: West Pharmaceutical Services, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.1 billion, up 6.25% from fiscal 2024.
West Pharmaceutical Services, Inc. (WST) is a Medical Instruments & Supplies company in the Healthcare sector, listed on the New York Stock Exchange.
Net income was $493.7 million, or $6.83 per share (basic), a net margin of 16.1%.
As of October 16, 2026, WST traded at $382.92, a market capitalization of $27.0 billion.
At that price the stock trades at 48.7× trailing-twelve-month earnings and 8.1× sales; its P/E is higher than 66% of its own readings over the past ten years.
West Pharmaceutical Services, Inc. pays an annual dividend of $0.88 per share, a yield of 0.23%, with a payout ratio of 11.3%.
Return on equity was 16.9% and debt-to-equity 0.07.
Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 13.89 (safe zone) for fiscal 2025.