WST

West Pharmaceutical Services Inc

Exchange: NYSESector: HealthcareIndustry: Medical Instruments & Supplies

West Pharmaceutical Services, Inc. (West) is a manufacturer of components and systems for the packaging and delivery of injectable drugs, as well as delivery system components for the pharmaceutical, healthcare and consumer products industries. Its business operations are organized into two segments: Pharmaceutical Packaging Systems segment (Packaging Systems) and the Pharmaceutical Delivery Systems segment (Delivery Systems). Its products include stoppers and seals for vials, prefillable syringe components and systems, components for intravenous and blood collection systems, safety and administration systems, advanced injection systems, and contract design and manufacturing services. Its customers include the global producers and distributors of pharmaceuticals, biologics, medical devices and personal care products.

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Price sits at 63% of its 52-week range.

Current Price

$267.93

+3.07%

GoodMoat Value

$166.89

37.7% overvalued

Profile

Valuation (TTM)

Market Cap$19.28B

P/E39.04

EV$16.90B

P/B6.07

Shares Out71.94M

P/Sales6.27

Revenue$3.07B

EV/EBITDA23.89

West Pharmaceutical Services Inc (WST) Financial Statements

GoodMoat Analysis

Based on data as of March 26, 2026

West Pharmaceutical Services exhibits strong profitability and a healthy balance sheet, but its growth has decelerated significantly. The key concern for a value investor is the combination of a high valuation and slowing revenue growth, which may not justify the current premium.

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West Pharmaceutical Services demonstrates high-quality profitability metrics, with a robust operating margin of 19.0% and a solid ROE of 15.5%. The balance sheet is exceptionally healthy, featuring a low debt-to-equity ratio of 0.10, which aligns with the framework's preference for a substantial net cash position. However, the financial quality shows mixed signals. While free cash flow is positive, the FCF yield of 2.7% is below the framework's favourable threshold of >10-15% FCF margin, indicating modest cash generation relative to its market value. The primary area of concern is growth. Year-over-year revenue growth of 7.5% is a sharp deceleration from the high-growth trajectory the framework seeks (sustained above 20%), and it falls short of the 'beat and raise' pattern indicative of a durable moat. This slower growth, when paired with a P/E of 35.2, suggests the market is pricing in a much faster recovery or expansion than the current fundamentals support. For a value investor, the business quality is adequate, but the growth assessment is unfavourable, creating a mismatch with the valuation.

WST Financial Data

EBITDA$787.20M

Revenue (TTM)$3.07B

Gross Profit (TTM)$1.10B

Gross Margin—

Operating Margin19.03%

ROE15.54%

ROA11.56%

Debt/Equity0.10

Current Ratio3.02

FCF$468.90M

FCF Yield2.43%

Piotroski F-Score—

Rev/Share (TTM)$42.73

50-Day MA$246.28

200-Day MA$254.75

Shares Outstanding0.07B

WST Computed Insights

FCF$468.90M

FCF Growth Rate11.75%

EPS Growth (CAGR)12.64%

WACC10.00%

Income Statement

Balance Sheet

Cash Flow Statement

WST Financial Statements & Data

West Pharmaceutical Services Inc (WST) financial data including income statement, balance sheet, and cash flow statement. This page provides a comprehensive view of West Pharmaceutical Services Inc's financial performance and position as a Healthcare company.

Trailing twelve-month (TTM) revenue is $3.07B. Gross profit (TTM) is $1.10B. EBITDA is $787.20M. Earnings per share (EPS) is $6.79. The P/E ratio is 39.04. Market capitalization is $19.28B.

Free cash flow (FCF) is $468.90M. FCF growth rate is 11.75%. EPS growth CAGR is 12.64%. Weighted average cost of capital (WACC) is 10.00%.

Historical revenue data covers 7 years from FY19 to FY25. Net income history spans 7 years. Free cash flow and capital expenditure data spans 7 years. GoodMoat displays interactive charts for revenue, net income, FCF vs CAPEX, and cash-to-debt ratios to help investors identify financial trends.

Use West Pharmaceutical Services Inc's financial data to assess the company's earnings quality, balance sheet health, and cash generation. Compare key metrics across periods to identify trends before making investment decisions with GoodMoat's valuation tools.