Tearsheet

West Pharmaceutical Services (WST)

Market Price (11/7/2025): $271.09 | Market Cap: $19.6 Bil
Sector: Health Care | Industry: Health Care Supplies

West Pharmaceutical Services (WST)

Market Price (11/7/2025): $271.09
Market Cap: $19.6 Bil
Sector: Health Care
Industry: Health Care Supplies

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21%	Weak multi-year price returns 2Y Excs Rtn is -71%, 3Y Excs Rtn is -53%	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 33x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 29x, P/EPrice/Earnings or Price/(Net Income) is 40x
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13%

0	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13%
2	Weak multi-year price returns 2Y Excs Rtn is -71%, 3Y Excs Rtn is -53%
3	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 33x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 29x, P/EPrice/Earnings or Price/(Net Income) is 40x

Market Valuation & Key Metrics

	11/7/25	2024	2023	2022	2021
Share Price CYE	$271.09	$326.76	$350.42	$233.81	$464.82
Market Cap CYE ($ Bil)	19.6	23.8	25.9	17.4	35.1
Total Debt ($ Bil)	0.3	0.3	0.3	0.3	0.3
Total Cash ($ Bil)	0.6	0.5	0.9	0.9	0.8
Enterprise Value ($ Bil)	19.2	24.1	26.2	17.7	35.4
Valuation Ratios
P/S TTM	6.5	8.3	8.9	6.1	12.3
P/EBIT TTM	32.4	40.6	37.0	25.5	46.1
P/E TTM	39.8	48.5	44.1	29.9	52.7
Sector Ratios
P/S TTM (Sector)	3.9	3.5	4.0	4.6	7.3
P/EBIT TTM (Sector)	-1.5	-1.3	-1.3	-1.3	-2.7
P/E TTM (Sector)	-1.8	-1.5	-1.5	-1.3	-2.8

	11/7/25	2024	2023
Share Price CYE	$271.09	$326.76	$350.42
Market Cap CYE ($ Bil)	19.6	23.8	25.9
Total Debt ($ Bil)	0.3	0.3	0.3
Total Cash ($ Bil)	0.6	0.5	0.9
Enterprise Value ($ Bil)	19.2	24.1	26.2
Valuation Ratios
P/S TTM	6.5	8.3	8.9
P/EBIT TTM	32.4	40.6	37.0
P/E TTM	39.8	48.5	44.1
Sector Ratios
P/S TTM (Sector)	3.9	3.5	4.0
P/EBIT TTM (Sector)	-1.5	-1.3	-1.3
P/E TTM (Sector)	-1.8	-1.5	-1.5

	WST	S&P 500
REVENUE GROWTH	POOR
Rev LTM ($ Bil)	3.0
Rev Chg Q	7.7%	7.1%
Rev Chg LTM	4.9%	6.0%
Rev Chg 3Y Avg	1.3%	5.5%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	0.6
CFO LTM ($ Bil)	0.7
Net Inc LTM ($ Bil)	0.5
Op Mgn LTM	20.9%	18.8%
CFO/Rev LTM	23.0%	20.5%
Net Inc Mgn	16.3%	12.9%
VALUATION	VERY HIGH
P/S	6.6	3.1
P/CFO	28.6	15.1
P/FCF	52.3	19.7
P/E	40.3	23.5
STABILITY	VERY GOOD
Debt/Equity	0.02	0.21
Cash/Assets	0.15	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Total Patents Globally	1892	11052025	Link
Components and Devices Produced Annually	approximately 48 billion	12312023	Link
High-Value Products (HVP) as a Percentage of Proprietary Product Segment Sales	approximately 74%	12312023	Link
Employee Attrition Rate	approximately 21%	12312023	Link
Number of Employees	10,600	12312024	Link
Number of Manufacturing Facilities	25	11032025	Link
Number of Sites Worldwide	50	11032025	Link

WST Stock

Return (1M):

Factor Drivers of Stock Movement

The 14.5% change in WST stock from 8/7/2025 to 11/6/2025 was primarily driven by a 13.5% change in the company's P/E Multiple.

	8072025	11062025	Change
Stock Price ($)	240.54	275.34	14.47%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2960.20	3017.90	1.95%
Net Income Margin (%)	16.48%	16.29%	-1.11%
P/E Multiple	35.61	40.43	13.54%
Shares Outstanding (Mil)	72.20	72.20	0.00%
Cumulative Contribution			14.47%

LTM = Last Twelve Months as of date shown

The 28.3% change in WST stock from 5/8/2025 to 11/6/2025 was primarily driven by a 21.4% change in the company's P/E Multiple.

	5082025	11062025	Change
Stock Price ($)	214.56	275.34	28.33%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2895.80	3017.90	4.22%
Net Income Margin (%)	16.13%	16.29%	0.99%
P/E Multiple	33.30	40.43	21.43%
Shares Outstanding (Mil)	72.50	72.20	0.41%
Cumulative Contribution			28.32%

LTM = Last Twelve Months as of date shown

The -16.1% change in WST stock from 11/6/2024 to 11/6/2025 was primarily driven by a -15.5% change in the company's P/E Multiple.

	11062024	11062025	Change
Stock Price ($)	328.36	275.34	-16.15%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2876.40	3017.90	4.92%
Net Income Margin (%)	17.37%	16.29%	-6.20%
P/E Multiple	47.85	40.43	-15.50%
Shares Outstanding (Mil)	72.80	72.20	0.82%
Cumulative Contribution			-16.15%

LTM = Last Twelve Months as of date shown

The 22.8% change in WST stock from 11/7/2022 to 11/6/2025 was primarily driven by a 52.8% change in the company's P/E Multiple.

	11072022	11062025	Change
Stock Price ($)	224.27	275.34	22.77%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2909.00	3017.90	3.74%
Net Income Margin (%)	21.68%	16.29%	-24.84%
P/E Multiple	26.46	40.43	52.80%
Shares Outstanding (Mil)	74.40	72.20	2.96%
Cumulative Contribution			22.66%

LTM = Last Twelve Months as of date shown

Why The Stock Moved

AI Generated Analysis | Feedback

West Pharmaceutical Services (WST) experienced a stock increase of approximately 15.1% from July 31, 2025, to November 7, 2025, driven by several key factors:

1. Strong Second Quarter 2025 Earnings and Upgraded Full-Year Outlook: The company's shares surged in late July 2025 following the release of stronger-than-expected second-quarter results and a significant increase in its full-year guidance for both net sales and adjusted diluted earnings per share. This was primarily attributed to an acceleration in demand for high-value products and components related to GLP-1 therapies.

2. Surpassing Third Quarter 2025 Expectations and Further Raised Guidance: In October 2025, West Pharmaceutical Services again exceeded analyst expectations with robust third-quarter sales and net income. This strong performance led the company to further lift its full-year 2025 revenue and earnings guidance, with anticipated net sales in the range of US$3.060 billion to US$3.070 billion.

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
WST Return	89%	66%	-50%	50%	-7%	-16%	86%
Peers Return	20%	10%	2%	-3%	17%	-10%	38%
S&P 500 Return	16%	27%	-19%	24%	23%	14%	108%
Monthly Win Rates [3]
WST Win Rate	75%	83%	33%	67%	50%	60%
Peers Win Rate	55%	57%	47%	48%	57%	48%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
WST Max Drawdown	-14%	-9%	-55%	-1%	-21%	-42%
Peers Max Drawdown	-32%	-7%	-14%	-21%	-6%	-17%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: RMD, PKG, AMCR, SLGN, SON. See WST Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 11/6/2025 (YTD)

How Low Can It Go

Unique Key	Event	WST	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-55.6%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	125.2%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-26.2%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	35.5%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	31 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-25.0%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	33.3%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	186 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-45.6%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	83.7%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1295 days	1480 days

Compare to RMD, PKG, AMCR, SLGN, SON

In The Past

West Pharmaceutical Services's stock fell -55.6% during the 2022 Inflation Shock from a high on 12/30/2021. A -55.6% loss requires a 125.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About West Pharmaceutical Services (WST)

West Pharmaceutical Services, Inc. designs, manufactures, and sells containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Proprietary Products and Contract-Manufactured Products. The Proprietary Products segment offers stoppers and seals for injectable packaging systems; syringe and cartridge components, including custom solutions for the needs of injectable drug applications, as well as administration systems that enhance the safe delivery of drugs through advanced reconstitution, mixing, and transfer technologies; and films, coatings, washing, and vision inspection and sterilization processes and services to enhance the quality of packaging components. It also provides drug containment solutions, including Crystal Zenith, a cyclic olefin polymer in the form of vials, syringes, and cartridges; and self-injection devices, as well as a range of integrated solutions, including analytical lab services, pre-approval primary packaging support and engineering development, regulatory expertise, and after-sales technical support. This segment serves biologic, generic, and pharmaceutical drug companies. The Contract-Manufactured Products segment is involved in the design, manufacture, and automated assembly of devices used in surgical, diagnostic, ophthalmic, injectable, and other drug delivery systems, as well as consumer products. It serves pharmaceutical, diagnostic, and medical device companies. The company distributes its products through its sales force and distribution network, as well as contract sales agents and regional distributors. West Pharmaceutical Services, Inc. was incorporated in 1923 and is headquartered in Exton, Pennsylvania.

AI Generated Analysis | Feedback

Here are two brief analogies to describe West Pharmaceutical Services (WST):

Intel for the pharmaceutical industry's injectable drug packaging. (Just as Intel provides essential, specialized chips that power computers, West Pharma provides crucial, high-quality components like vials, stoppers, and syringes that are vital for injectable medicines.)
The Corning Inc. of pharmaceutical containment and delivery systems. (Similar to how Corning specializes in advanced materials like glass for high-tech products, West Pharma focuses on specialized materials science and components critical for safely containing and delivering injectable drugs.)

AI Generated Analysis | Feedback

Drug Containment Components: Elastomeric stoppers, seals, and vials for secure packaging and storage of injectable pharmaceutical products.
Prefillable Syringe Components: Plunger stoppers, tip caps, and needle shields designed for use in prefillable syringes for drug administration.
Integrated Drug Delivery Systems: Advanced devices such as auto-injectors and wearable injectors that facilitate patient self-administration of medicines.
Ready-to-Use Components: Pre-sterilized and ready-to-fill primary packaging components, reducing manufacturing steps and risks for pharmaceutical companies.

AI Generated Analysis | Feedback

West Pharmaceutical Services (WST) - Major Customers

West Pharmaceutical Services (WST) primarily operates on a Business-to-Business (B2B) model, selling its high-quality integrated containment and delivery products and services, such as stoppers, seals, plungers, and prefillable syringes, to other companies within the healthcare industry.

According to its regulatory filings, no single customer accounts for more than 10% of West Pharmaceutical Services' net sales, indicating a highly diverse customer base. However, its customer base is extensive and includes virtually all of the world's top 50 pharmaceutical and biotechnology companies, as well as many smaller firms globally. These major categories of customers include:

Pharmaceutical Companies: These include global leaders that develop and manufacture a wide range of injectable drugs, including traditional small molecules, sterile injectables, and advanced therapies. They rely on West's components for the safe, stable, and effective packaging and delivery of their medications.
Biotechnology Companies: This segment comprises firms specializing in biologics, vaccines, gene therapies, and other complex biotech products, which often require highly specialized and sterile containment and delivery solutions provided by West.
Contract Development and Manufacturing Organizations (CDMOs) / Contract Research Organizations (CROs): Companies that provide drug development, manufacturing, and research services to pharmaceutical and biotech clients often source components from West to support their clients' projects and production needs.

While specific individual "major" customers cannot be named due to the diversified nature of their sales and the lack of customer concentration above 10%, the following are examples of leading public pharmaceutical and biotechnology companies that would logically be among West's extensive customer base, given their significant pipelines of injectable products and need for advanced containment and delivery solutions:

Johnson & Johnson (NYSE: JNJ)
Pfizer Inc. (NYSE: PFE)
Merck & Co., Inc. (NYSE: MRK)
Eli Lilly and Company (NYSE: LLY)
AbbVie Inc. (NYSE: ABBV)
Bristol-Myers Squibb Company (NYSE: BMY)
Amgen Inc. (NASDAQ: AMGN)
Gilead Sciences, Inc. (NASDAQ: GILD)
Moderna, Inc. (NASDAQ: MRNA)
Sanofi (NASDAQ: SNY) - (ADR)

AI Generated Analysis | Feedback

null

AI Generated Analysis | Feedback

Eric Green, Chief Executive Officer, President and Chair of the Board

Mr. Green joined West Pharmaceutical Services in 2015. Prior to his role at West, he held various leadership positions at Becton, Dickinson and Company (BD), including Executive Vice President and President of BD Medical. He also gained experience through roles at Medtronic, Inc. and Johnson & Johnson.

Bernard Birkett, Chief Financial Officer

Mr. Birkett joined West Pharmaceutical Services in 2018. Before joining West, he served as the Chief Financial Officer of Pall Corporation, a company that was subsequently acquired by Danaher Corporation. He also spent 21 years at GE Healthcare, where he held various financial leadership roles, including CFO for GE Healthcare’s Medical Diagnostics, Global Services, and Healthcare Systems businesses.

Chris Ryan, President, Pharmaceutical Packaging and Delivery Systems

Mr. Ryan joined West in 2014. He previously spent nearly two decades at Thermo Fisher Scientific Inc., where his most recent role was Vice President and General Manager, Global Commercial Operations for the Environmental and Process Monitoring business.

Annette Favorite, Senior Vice President, Chief Human Resources Officer

Ms. Favorite joined West in 2021. Before joining West, she was the Vice President, Human Resources for Teva Pharmaceuticals’ North America operations. She also held various HR leadership positions at Johnson & Johnson, including Vice President, Global Human Resources for the Vision Care business.

Silji Skariah, Senior Vice President, General Counsel and Corporate Secretary

Ms. Skariah joined West in 2022. Prior to West, she served as Vice President and Chief Counsel of Corporate Development, M&A and Integration at Medtronic plc. She also spent 13 years as a partner in the corporate and securities group at Dechert LLP.

AI Generated Analysis | Feedback

null

AI Generated Analysis | Feedback

West Pharmaceutical Services (WST) operates in several key addressable markets related to pharmaceutical packaging and drug delivery systems.

Injectable Drug Delivery Market: The global injectable drug delivery market was valued at approximately USD 704.38 billion in 2024 and is projected to reach around USD 1609.29 billion by 2034, demonstrating a Compound Annual Growth Rate (CAGR) of 8.61% from 2025 to 2034. Another estimate places the global market at USD 690.23 billion in 2025, expected to grow to USD 1,034.78 billion by 2030 with a CAGR of 8.4%. The injectable drug delivery devices segment alone was valued at USD 467.5 billion globally in 2023 and is anticipated to reach USD 823.29 billion by 2030, with a CAGR of 8.7% from 2024 to 2030. North America is a significant region within this market, with its injectable drug delivery market size surpassing USD 288.80 billion in 2024. In 2023, North America held a 40.5% market share for injectable drug delivery devices.
Integrated Drug Containment and Delivery Solutions Market: This global market is projected to reach a size of USD 50 billion in 2025, with a CAGR of 7% from 2025 to 2033. Other reports indicate that this market is expected to register a CAGR of 12.3% during the forecast period of 2025-2034, or 12.6% over the forecast period. North America held the largest market share in 2022.
Pharmaceutical Packaging Market: The global pharmaceutical packaging market was valued at USD 151.5 billion in 2024 and is estimated to grow at a CAGR of 15.6% from 2025 to 2034. Other estimates indicate the global market size was USD 110.55 billion in 2024, projected to be USD 116.58 billion in 2025 and reach USD 177.12 billion by 2032, with a CAGR of 6.16%. Another source reports the market size at USD 139,371.7 million in 2023, projected to reach USD 265,702.3 million by 2030, with a CAGR of 9.7%. North America held the largest market share, accounting for 30% in 2024 and 35.9% in 2023.

AI Generated Analysis | Feedback

West Pharmaceutical Services (WST) is expected to experience several key drivers of revenue growth over the next 2-3 years:

Robust Demand for High-Value Products (HVPs): West Pharmaceutical Services anticipates continued strong growth in its High-Value Products (HVPs) portfolio, driven by increased adoption of advanced drug delivery components and systems for complex injectable therapies. This category, which includes technologically advanced stoppers and seals, often commands higher prices and contributes significantly to both top-line growth and margin expansion.
Growth in Biologics and GLP-1 Markets: The expanding market for biologic drugs and GLP-1 therapies is a significant catalyst for WST's revenue. These specialized and often sensitive drug formulations require high-quality, reliable, and precise containment and delivery solutions, for which West Pharmaceutical Services is a leading provider. The increasing pipeline and commercialization of such drugs directly fuel demand for their components.
Strategic Capacity Expansion and Operational Efficiency: To meet the escalating demand for its high-value products, West Pharmaceutical Services has been strategically investing in expanding its manufacturing capacity. These investments are crucial for supporting future revenue growth by ensuring the company can adequately supply its customers, particularly in the rapidly growing biologic and GLP-1 sectors. Improved operational efficiencies associated with these expansions also contribute to profitable growth.
Favorable Pricing and Product Mix: West Pharmaceutical Services benefits from a strong product mix shift towards its premium, high-value offerings, which allows for favorable pricing strategies. The company's innovative solutions and critical role in drug delivery enable it to maintain pricing power, further contributing to revenue growth.

AI Generated Analysis | Feedback

Share Repurchases

West Pharmaceutical Services repurchased approximately $50 million of its common stock in 2023.
The company repurchased $250 million of its common stock during 2022.
In 2021, West Pharmaceutical Services repurchased approximately $175 million of its common stock.

Share Issuance

Share issuances are primarily related to stock-based compensation plans, including the exercise of stock options and vesting of restricted stock units.
In 2023, the company issued shares primarily to satisfy obligations under employee equity incentive plans.

Outbound Investments

In 2020, West Pharmaceutical Services acquired the remaining 49% interest in its Daikyo West Pharmaceutical Services, Ltd. joint venture for approximately $128 million.

Capital Expenditures

Capital expenditures were $288.7 million in 2023, an increase from $240.7 million in 2022.
The company anticipates capital expenditures to be in the range of $250 million to $300 million for 2024, focusing on capacity expansion and new product development to support long-term growth.
A significant portion of capital expenditures in recent years has been directed towards expanding global manufacturing capacity and enhancing research and development capabilities.

Better Bets than West Pharmaceutical Services (WST)

	WST	Better Performance than WST
Metric	Value	Industry (Health Care Supplies)
Rev Chg LTM	4.9%	COO (6.4%), MMSI (11.4%), BLFS (37.6%)
Rev Chg 3Y Avg	1.3%	COO (7.9%), MMSI (9.2%), LNTH (25.5%), ICUI (10.7%), HAE (7.2%)
Op Mgn LTM	20.9%	LNTH (22.9%)
CFO/Rev LTM	23.0%	LNTH (30.0%)
FCF/Rev LTM	12.6%	ALGN (14.2%), MMSI (13.8%), LNTH (24.9%), HAE (19.3%), BLFS (15.0%)
Total Yield	2.6%	COO (3.0%), ALGN (3.9%), LNTH (4.6%), HAE (5.3%)

	WST	Better Performance than WST
Metric	Value	Sector (Health Care)
Rev Chg LTM	4.9%	LLY (36.8%), JNJ (5.1%), ABBV (7.4%), UNH (10.5%), ABT (6.4%)
Rev Chg 3Y Avg	1.3%	LLY (23.4%), JNJ (6.1%), UNH (11.4%), MRK (2.9%), ISRG (16.3%)
Op Mgn LTM	20.9%	LLY (43.0%), JNJ (26.2%), ABBV (24.1%), MRK (34.9%), ISRG (29.3%)
CFO/Rev LTM	23.0%	JNJ (26.3%), ABBV (35.0%), MRK (26.6%), ISRG (30.8%), AMGN (36.5%)
FCF/Rev LTM	12.6%	JNJ (20.3%), ABBV (33.0%), ABT (15.8%), MRK (20.3%), TMO (14.0%)
Total Yield	2.6%	JNJ (8.3%), ABBV (3.6%), UNH (8.7%), ABT (8.3%), MRK (12.7%)

	WST	Better Performance than WST
Metric	Value	All Other Sectors
Rev Chg LTM	4.9%	NVDA (71.6%), AAPL (6.0%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%)
Rev Chg 3Y Avg	1.3%	NVDA (92.0%), AAPL (1.8%), MSFT (13.2%), GOOGL (11.0%), AMZN (11.3%)
Op Mgn LTM	20.9%	NVDA (58.1%), AAPL (31.9%), MSFT (46.3%), GOOGL (32.2%), AVGO (39.0%)
CFO/Rev LTM	23.0%	NVDA (46.6%), AAPL (26.6%), MSFT (50.0%), GOOGL (39.3%), AVGO (42.4%)
FCF/Rev LTM	12.6%	NVDA (43.6%), AAPL (23.5%), MSFT (26.6%), GOOGL (19.1%), AVGO (41.6%)
Total Yield	2.6%	AAPL (2.9%), MSFT (3.5%), GOOGL (3.9%), AMZN (2.7%), META (4.1%)

		Best Bets In Health Care Sector
	WST	RPRX	HALO	DOCS	CPRX	BMY	MEDP	PBH	MRK	NBIX	ISRG
What You Pay
P/E	40.4	23.0	13.5	46.4	11.8	15.7	38.5	15.0	11.2	36.0	71.1
P/EBIT	32.9	11.1	10.5	47.6	9.9	9.5	32.9	9.2	9.3	26.4	69.4
What You Get
Rev Chg Q	7.7%	7.9%	22.1%	23.2%	15.3%	2.8%	23.7%	-3.4%	3.7%	27.8%	22.9%
Rev Chg LTM	4.9%	3.7%	31.2%	20.2%	25.6%	1.3%	13.9%	-0.0%	1.7%	19.6%	22.2%
Rev Chg 3Y Avg	1.3%	1.5%	29.0%	17.4%	46.5%	1.0%	19.9%	0.1%	2.9%	24.6%	16.3%
FCF/Rev 3Y Avg	12.7%	115.2%	45.0%	42.7%	34.2%	29.0%	25.3%	21.7%	22.0%	21.1%	16.5%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 11%, alpha of 1.9%, and sharpe of 0.52

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	West Pharmaceutical Services Earnings Notes
2	Better Value & Growth: COO, MMSI Top West Pharmaceutical Services Stock	Actionable
3	How Low Can West Pharmaceutical Services Stock Really Go?	Return
4	West Pharmaceutical Services vs Apple: Which Is A Better Investment?	Counter-Intuitive Comparisons
5	West Pharmaceutical Services vs Johnson & Johnson: Which Is A Better Investment?	Counter-Intuitive Comparisons
6	West Pharmaceutical Services vs Lantheus: Which Is A Better Investment?	Counter-Intuitive Comparisons
7	How Does West Pharmaceutical Services Stock Stack Up Against Its Peers?
8	Better Bet Than WST Stock: Pay Less Than West Pharmaceutical Services To Get More From UNH, MRK
9	Better Bet Than WST Stock: Pay Less Than West Pharmaceutical Services To Get More From COO, HAE
10	Day 5 of Loss Streak for West Pharmaceutical Services Stock with -14% Return (vs. -27% YTD) [7/31/2025]	Notification
11	ARTICLES
12	Why COO Could Outperform West Pharmaceutical Services Stock		October 24th, 2025
13	S&P 500 Movers \| Winners: DOW, LVS, WST \| Losers: MOH, SMCI, URI		October 23rd, 2025
14	WST Stock Down -14% after 5-Day Loss Streak		August 1st, 2025
15	S&P 500 Movers \| Winners: WST, URI, LH \| Losers: LKQ, DOW, MOH		July 25th, 2025
16	Market Movers \| Winners: BE, WST, ICLR \| Losers: CYH, NVCR, IRDM		July 25th, 2025

	Title
0	DASHBOARDS
1	West Pharmaceutical Services Earnings Notes
2	Better Value & Growth: COO, MMSI Top West Pharmaceutical Services Stock
3	How Low Can West Pharmaceutical Services Stock Really Go?
4	West Pharmaceutical Services vs Apple: Which Is A Better Investment?
5	West Pharmaceutical Services vs Johnson & Johnson: Which Is A Better Investment?
6	West Pharmaceutical Services vs Lantheus: Which Is A Better Investment?
7	How Does West Pharmaceutical Services Stock Stack Up Against Its Peers?
8	Better Bet Than WST Stock: Pay Less Than West Pharmaceutical Services To Get More From UNH, MRK
9	Better Bet Than WST Stock: Pay Less Than West Pharmaceutical Services To Get More From COO, HAE
10	Day 5 of Loss Streak for West Pharmaceutical Services Stock with -14% Return (vs. -27% YTD) [7/31/2025]
11	ARTICLES
12	Why COO Could Outperform West Pharmaceutical Services Stock
13	S&P 500 Movers \| Winners: DOW, LVS, WST \| Losers: MOH, SMCI, URI
14	WST Stock Down -14% after 5-Day Loss Streak
15	S&P 500 Movers \| Winners: WST, URI, LH \| Losers: LKQ, DOW, MOH
16	Market Movers \| Winners: BE, WST, ICLR \| Losers: CYH, NVCR, IRDM

Trade Ideas

Select past ideas related to WST. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
SLGN_10312025_Dip_Buyer_ValueBuy	10312025	SLGN	Silgan	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-1.1%	-1.1%	-1.1%
GDRX_10312025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	10312025	GDRX	GoodRx	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	-6.2%	-6.2%	-6.2%
DXCM_10312025_Monopoly_xInd_xCD_Getting_Cheaper	10312025	DXCM	DexCom	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-0.3%	-0.3%	-0.3%
ACHC_10242025_Dip_Buyer_ValueBuy	10242025	ACHC	Acadia Healthcare	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-13.4%	-13.4%	-13.4%
PBH_10102025_Dip_Buyer_ValueBuy	10102025	PBH	Prestige Consumer Healthcare	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	0.6%	0.6%	-1.9%
WST_8312025_Monopoly_xInd_xCD_Getting_Cheaper	08312025	WST	West Pharmaceutical Services	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	11.5%	11.5%	-1.3%
WST_2282025_Monopoly_xInd_xCD_Getting_Cheaper	02282025	WST	West Pharmaceutical Services	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	6.5%	18.7%	-18.1%
WST_8312024_Monopoly_xInd_xCD_Getting_Cheaper	08312024	WST	West Pharmaceutical Services	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-25.8%	-21.0%	-39.2%
WST_10312022_Dip_Buyer_High_CFO_Margins_ExInd_DE	10312022	WST	West Pharmaceutical Services	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	59.4%	38.7%	-9.0%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
SLGN_10312025_Dip_Buyer_ValueBuy	10312025	SLGN	Silgan	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-1.1%	-1.1%	-1.1%
GDRX_10312025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	10312025	GDRX	GoodRx	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	-6.2%	-6.2%	-6.2%
DXCM_10312025_Monopoly_xInd_xCD_Getting_Cheaper	10312025	DXCM	DexCom	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-0.3%	-0.3%	-0.3%
ACHC_10242025_Dip_Buyer_ValueBuy	10242025	ACHC	Acadia Healthcare	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-13.4%	-13.4%	-13.4%
PBH_10102025_Dip_Buyer_ValueBuy	10102025	PBH	Prestige Consumer Healthcare	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	0.6%	0.6%	-1.9%
WST_8312025_Monopoly_xInd_xCD_Getting_Cheaper	08312025	WST	West Pharmaceutical Services	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	11.5%	11.5%	-1.3%
WST_2282025_Monopoly_xInd_xCD_Getting_Cheaper	02282025	WST	West Pharmaceutical Services	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	6.5%	18.7%	-18.1%
WST_8312024_Monopoly_xInd_xCD_Getting_Cheaper	08312024	WST	West Pharmaceutical Services	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-25.8%	-21.0%	-39.2%
WST_10312022_Dip_Buyer_High_CFO_Margins_ExInd_DE	10312022	WST	West Pharmaceutical Services	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	59.4%	38.7%	-9.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FSLY	Fastly	1.6	35.9%	16.2%
GDEN	Golden Entertainment	0.7	34.3%	-7.2%
HAE	Haemonetics	3.2	32.3%	-14.0%
APPN	Appian	2.8	30.8%	16.3%
LFST	LifeStance Health	2.4	29.9%	-15.2%
IOVA	Iovance Biotherapeutics	0.8	27.6%	-68.8%
SKYT	SkyWater Technology	0.9	27.2%	35.6%
BHF	Brighthouse Financial	3.8	26.8%	36.8%
DDOG	Datadog	66.1	23.1%	33.5%
HCC	Warrior Met Coal	4.3	22.9%	50.5%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ASPN	Aspen Aerogels	0.3	-44.5%	-65.4%
ACVA	ACV Auctions	0.9	-37.5%	-76.4%
ELF	e.l.f. Beauty	4.3	-35.0%	-39.0%
CCOI	Cogent Communications	1.2	-34.9%	-65.5%
BLZE	Backblaze	0.3	-33.8%	2.7%
PRCH	Porch	1.1	-33.4%	116.1%
PRTH	Priority Technology	0.4	-30.1%	-58.7%
AOSL	Alpha & Omega Semiconductor	0.6	-27.5%	-46.9%
STKL	SunOpta	0.5	-26.6%	-49.9%
VAC	Marriott Vacations Worldwide	1.7	-26.4%	-43.0%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TERN	Terns Pharmaceuticals	1.7	123.7%	229.4%
CSIQ	Canadian Solar	1.8	49.1%	140.5%
BHF	Brighthouse Financial	3.8	43.8%	36.8%
GDEN	Golden Entertainment	0.7	39.4%	-7.2%
CSTL	Castle Biosciences	1.0	38.6%	25.9%
FSLY	Fastly	1.6	37.5%	16.2%
TDC	Teradata	2.7	35.5%	-9.1%
HAE	Haemonetics	3.2	34.2%	-14.0%
APPN	Appian	2.8	28.7%	16.3%
MTSR	Metsera	8.6	28.0%	81549900.0%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
SOC	Sable Offshore	0.4	-62.3%	-78.9%
QURE	uniQure	1.5	-59.5%	55.8%
DD	DuPont de Nemours	16.4	-51.9%	-47.8%
BHVN	Biohaven	0.9	-50.9%	-77.2%
ASPN	Aspen Aerogels	0.3	-45.4%	-65.4%
ACVA	ACV Auctions	0.9	-42.8%	-76.4%
SVV	Savers Value Village	1.2	-40.3%	-22.9%
BLZE	Backblaze	0.3	-40.2%	2.7%
CCOI	Cogent Communications	1.2	-38.0%	-65.5%
ELF	e.l.f. Beauty	4.3	-37.8%	-39.0%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
PRAX	Praxis Precision Medicines	3.7	217.5%	123.9%
VTYX	Ventyx Biosciences	0.7	141.8%	322.8%
INBX	Inhibrx Biosciences	1.3	141.0%	425.9%
TERN	Terns Pharmaceuticals	1.7	120.9%	229.4%
PUMP	ProPetro	1.1	88.9%	15.2%
CSIQ	Canadian Solar	1.8	87.1%	140.5%
REPL	Replimune	0.8	86.0%	-29.8%
VICR	Vicor	4.0	72.9%	84.2%
GLUE	Monte Rosa Therapeutics	1.1	68.7%	87.5%
ESTA	Establishment Labs	1.9	61.8%	40.9%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
SOC	Sable Offshore	0.4	-75.7%	-78.9%
FMC	FMC	1.6	-57.3%	-72.1%
QURE	uniQure	1.5	-54.1%	55.8%
ONDS	Ondas	0.8	-53.4%	105.1%
FI	Fiserv	33.9	-51.3%	-70.0%
LRN	Stride	3.0	-51.2%	-32.1%
ASPN	Aspen Aerogels	0.3	-50.5%	-65.4%
DD	DuPont de Nemours	16.4	-50.0%	-47.8%
NTLA	Intellia Therapeutics	1.3	-49.7%	5.7%
ELF	e.l.f. Beauty	4.3	-47.2%	-39.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FSLY	Fastly	1.6	35.9%	16.2%
GDEN	Golden Entertainment	0.7	34.3%	-7.2%
HAE	Haemonetics	3.2	32.3%	-14.0%
APPN	Appian	2.8	30.8%	16.3%
LFST	LifeStance Health	2.4	29.9%	-15.2%
IOVA	Iovance Biotherapeutics	0.8	27.6%	-68.8%
SKYT	SkyWater Technology	0.9	27.2%	35.6%
BHF	Brighthouse Financial	3.8	26.8%	36.8%
DDOG	Datadog	66.1	23.1%	33.5%
HCC	Warrior Met Coal	4.3	22.9%	50.5%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ASPN	Aspen Aerogels	0.3	-44.5%	-65.4%
ACVA	ACV Auctions	0.9	-37.5%	-76.4%
ELF	e.l.f. Beauty	4.3	-35.0%	-39.0%
CCOI	Cogent Communications	1.2	-34.9%	-65.5%
BLZE	Backblaze	0.3	-33.8%	2.7%
PRCH	Porch	1.1	-33.4%	116.1%
PRTH	Priority Technology	0.4	-30.1%	-58.7%
AOSL	Alpha & Omega Semiconductor	0.6	-27.5%	-46.9%
STKL	SunOpta	0.5	-26.6%	-49.9%
VAC	Marriott Vacations Worldwide	1.7	-26.4%	-43.0%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TERN	Terns Pharmaceuticals	1.7	123.7%	229.4%
CSIQ	Canadian Solar	1.8	49.1%	140.5%
BHF	Brighthouse Financial	3.8	43.8%	36.8%
GDEN	Golden Entertainment	0.7	39.4%	-7.2%
CSTL	Castle Biosciences	1.0	38.6%	25.9%
FSLY	Fastly	1.6	37.5%	16.2%
TDC	Teradata	2.7	35.5%	-9.1%
HAE	Haemonetics	3.2	34.2%	-14.0%
APPN	Appian	2.8	28.7%	16.3%
MTSR	Metsera	8.6	28.0%	81549900.0%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
SOC	Sable Offshore	0.4	-62.3%	-78.9%
QURE	uniQure	1.5	-59.5%	55.8%
DD	DuPont de Nemours	16.4	-51.9%	-47.8%
BHVN	Biohaven	0.9	-50.9%	-77.2%
ASPN	Aspen Aerogels	0.3	-45.4%	-65.4%
ACVA	ACV Auctions	0.9	-42.8%	-76.4%
SVV	Savers Value Village	1.2	-40.3%	-22.9%
BLZE	Backblaze	0.3	-40.2%	2.7%
CCOI	Cogent Communications	1.2	-38.0%	-65.5%
ELF	e.l.f. Beauty	4.3	-37.8%	-39.0%

Peer Comparisons for West Pharmaceutical Services

Financials

	WST	RMD	PKG	AMCR	SLGN	SON	Median
Name	West Pha.	ResMed	Packagin.	Amcor	Silgan	Sonoco P.
Mkt Price	275.34	249.65	198.09	8.22	38.21	40.45	119.27
Mkt Cap	19.9	36.5	17.7	19.0	4.1	4.0	18.4
Rev LTM	3,018	5,257	8,772	17,401	6,426	7,114	6,770
Op Inc LTM	631	1,762	1,296	1,534	640	641	968
FCF LTM	379	1,757	725	853	65	298	552
FCF 3Y Avg	374	1,299	714	805	243	360	544
CFO LTM	694	1,883	1,436	1,526	372	673	1,065
CFO 3Y Avg	721	1,420	1,346	1,366	502	727	1,036

Growth & Margins

	WST	RMD	PKG	AMCR	SLGN	SON	Median
Name	West Pha.	ResMed	Packagin.	Amcor	Silgan	Sonoco P.
Rev Chg LTM	4.9%	9.4%	7.3%	28.4%	11.1%	67.9%	10.2%
Rev Chg 3Y Avg	1.3%	13.3%	1.1%	6.5%	0.4%	7.8%	3.9%
Rev Chg Q	7.7%	9.1%	6.0%	71.3%	15.1%	57.3%	12.1%
QoQ Delta Rev Chg LTM	1.9%	2.2%	1.5%	15.9%	4.3%	12.3%	3.2%
Op Mgn LTM	20.9%	33.5%	14.8%	8.8%	10.0%	9.0%	12.4%
Op Mgn 3Y Avg	21.8%	30.3%	14.4%	9.4%	10.1%	9.4%	12.2%
QoQ Delta Op Mgn LTM	-0.1%	0.7%	-0.1%	0.0%	-0.1%	0.6%	-0.0%
CFO/Rev LTM	23.0%	35.8%	16.4%	8.8%	5.8%	9.5%	12.9%
CFO/Rev 3Y Avg	24.6%	29.1%	16.3%	9.0%	8.4%	13.6%	15.0%
FCF/Rev LTM	12.6%	33.4%	8.3%	4.9%	1.0%	4.2%	6.6%
FCF/Rev 3Y Avg	12.7%	26.5%	8.7%	5.3%	4.1%	6.8%	7.7%

Valuation

	WST	RMD	PKG	AMCR	SLGN	SON	Median
Name	West Pha.	ResMed	Packagin.	Amcor	Silgan	Sonoco P.
Mkt Cap	19.9	36.5	17.7	19.0	4.1	4.0	18.4
P/S	6.6	6.9	2.0	1.1	0.6	0.6	1.6
P/EBIT	32.9	20.7	14.3	15.8	6.9	9.1	15.0
P/E	40.4	25.4	19.8	32.7	12.9	6.4	22.6
P/CFO	28.7	19.4	12.3	12.5	11.0	6.0	12.4
Total Yield	2.6%	4.8%	7.6%	8.1%	9.8%	20.8%	7.8%
Dividend Yield	0.2%	0.9%	2.5%	5.0%	2.1%	5.2%	2.3%
FCF Yield 3Y Avg	1.7%	3.9%	4.3%	5.1%	4.5%	7.2%	4.4%
D/E	0.0	0.0	0.2	0.8	1.2	1.3	0.5
Net D/E	-0.0	-0.0	0.2	0.8	1.1	1.3	0.5

Returns

	WST	RMD	PKG	AMCR	SLGN	SON	Median
Name	West Pha.	ResMed	Packagin.	Amcor	Silgan	Sonoco P.
1M Rtn	3.5%	-11.9%	-5.9%	3.3%	-11.2%	-4.8%	-5.3%
3M Rtn	14.5%	-10.9%	2.3%	-13.4%	-17.7%	-11.9%	-11.4%
6M Rtn	28.3%	2.9%	9.3%	-7.7%	-28.4%	-8.1%	-2.4%
12M Rtn	-16.1%	2.5%	-16.0%	-14.9%	-28.1%	-17.7%	-16.1%
3Y Rtn	22.8%	20.7%	76.5%	-14.8%	-17.3%	-22.3%	3.0%
1M Excs Rtn	3.3%	-11.1%	-6.6%	3.6%	-11.6%	-4.6%	-5.6%
3M Excs Rtn	9.1%	-17.2%	-3.7%	-18.9%	-22.4%	-16.1%	-16.7%
6M Excs Rtn	9.7%	-15.7%	-9.3%	-26.3%	-47.1%	-26.7%	-21.0%
12M Excs Rtn	-29.9%	-14.3%	-29.5%	-32.6%	-44.5%	-34.0%	-31.2%
3Y Excs Rtn	-53.4%	-58.1%	5.2%	-91.8%	-89.2%	-96.7%	-73.6%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/23/2025	2/18/2025	2/20/2024	2/21/2023	2/22/2022	2/23/2021	2/24/2020
Key Financials
Total Revenue	3,018	2,893	2,950	2,887	2,832	2,147	1,840
EBITDA	769	744	844	808	879	519	404
Operating Income	631	591	707	761	760	419	299
Net Income	492	493	593	586	662	346	242
EPS	6.79	6.75	7.98	7.87	8.89	4.68	3.27
Growth Rates
Total Revenue Growth	4.9%	-1.9%	2.2%	2.0%	31.9%	16.7%	7.1%
EBITDA Growth	3.3%	-11.9%	4.4%	-8.1%	69.6%	28.5%	14.2%
Operating Income Growth	6.8%	-16.5%	-7.0%	0.1%	81.5%	40.2%	23.4%
Net Income Growth	-1.6%	-17.0%	1.3%	-11.5%	91.2%	43.2%	16.8%
Margins
EBITDA Margin	25.5%	25.7%	28.6%	28.0%	31.1%	24.2%	21.9%
Operating Income Margin	20.9%	20.4%	24.0%	26.4%	26.8%	19.5%	16.2%
Net Income Margin	16.3%	17.0%	20.1%	20.3%	23.4%	16.1%	13.1%
Cash & Debt
Total Cash	628	485	854	894	763	616	439
Total Debt	298	302	309	318	325	326	329
Net Debt / (Cash)	-331	-182	-545	-576	-437	-290	-110
Cash Flows
Net Cash from Operations	694	653	776	724	584	472	367
Free Cash from Operations	379	276	414	439	331	298	241
Returns to Shareholders
Dividends	61	59	57	54	51	48	45
Share Repurchases	191	567	451	222	152	121	85

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/23/2025	7/24/2025	4/24/2025	2/18/2025	10/24/2024	7/25/2024	4/25/2024	2/20/2024	10/26/2023	7/27/2023	4/27/2023	2/21/2023
Key Financials Quarterly
Total Revenue	805	766	698	749	747	702	695	732	747	754	717	709
Ebitda	215	198	151	205	205	169	165	205	226	222	192	162
Operating Income	174	159	128	170	166	130	126	170	183	186	168	160
Net Income	140	132	90	130	136	111	115	137	161	155	140	103
EPS	1.94	1.82	1.24	1.79	1.87	1.52	1.57	1.85	2.17	2.08	1.88	1.38
Key Financials TTM
Total Revenue TTM	3,018	2,960	2,896	2,893	2,876	2,877	2,929	2,950	2,926	2,866	2,884	2,887
Ebitda TTM	769	760	730	744	744	765	817	844	800	743	780	808
Operating Income TTM	631	622	593	591	591	608	665	707	698	703	742	761
Net Income TTM	492	488	467	493	500	525	569	593	559	519	552	586
Growth Rates Quarterly
Total Revenue Growth	7.7%	9.2%	0.4%	2.3%	-0.1%	-6.9%	-3.0%	3.3%	8.8%	-2.3%	-0.5%	-3.0%
EBITDA Growth	4.7%	17.4%	-8.3%	-0.2%	-9.0%	-23.7%	-14.1%	27.1%	34.1%	-14.4%	-12.7%	-26.2%
Operating Income Growth	5.3%	22.7%	1.4%	0.0%	-9.4%	-30.6%	-25.1%	5.8%	-2.8%	-17.3%	-9.9%	-15.0%
Net Income Growth	2.9%	18.4%	-22.1%	-5.0%	-15.7%	-28.2%	-17.6%	33.0%	33.7%	-17.7%	-19.4%	-30.3%
Margins Quarterly
EBITDA Margin	26.7%	25.9%	21.6%	27.4%	27.5%	24.1%	23.7%	28.0%	30.2%	29.4%	26.8%	22.8%
Operating Income Margin	21.7%	20.7%	18.3%	22.7%	22.2%	18.4%	18.1%	23.2%	24.5%	24.7%	23.5%	22.6%
Net Income Margin	17.4%	17.2%	12.9%	17.4%	18.2%	15.9%	16.6%	18.7%	21.6%	20.6%	19.5%	14.5%
Cash & Debt
Total Cash	628	510	404	485	491	446	602	854	899	796	886	894
Total Debt	298	303	303	302	305	311	307	309	307	311	314	318
Net Debt / (Cash)	-331	-206	-101	-182	-186	-136	-295	-545	-592	-485	-572	-576
Cash Flows Quarterly
FCF from Operations	197	177	129	190	180	165	118	239	230	169	138	231
Cash Flows TTM
FCF from Operations TTM	694	677	665	653	702	752	757	776	768	707	711	724
Returns to Shareholders Quarterly
Dividends	15	15	15	15	14	15	15	15	14	14	14	14
Share Repurchases	0	0	136	55	52	187	272	177	28	174	72	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-	-	-	-	-	-	-	-	-	-	-	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	-	-	-	-	-	-	-	-	-	-	-	-

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Proprietary Products	2,397	2,407	2,317	1,649	1,399
Contract-Manufactured Products	552	480	515	499	442
Intersegment sales elimination	0	-0	-0	-0	-0
Total	2,950	2,887	2,832	2,147	1,840

Operating Income by Segment

$ Mil	2024	2023	2022	2021	2020
Proprietary Products	710	784	796	434	314
Contract-Manufactured Products	72	60	67	69	49
Restructuring and related charges	2	-24
Amortization of acquisition-related intangible assets	-1	-1
Cost investment activity	-4	-4
Loss on disposal of plant	-12	0
Stock Based Compensation	-23	-24
Corporate general costs	-68	-59
Asset impairment		0
Intersegment sales elimination			-111	-96	-66
Total	676	734	752	407	297

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Proprietary Products	2,629	2,578	2,153	1,798	1,481
Corporate and Unallocated	673	558	718	584	475
Contract-Manufactured Products	528	480	444	412	386
Total	3,830	3,617	3,314	2,794	2,341

Price Behavior

Price Behavior

Market Price	$275.34
Market Cap ($ Bil)	19.9
First Trading Date	01/05/1988
Distance from 52W High	-20.7%
	50 Days	200 Days
DMA Price	$265.83	$241.94
DMA Trend	down	up
Distance from DMA	3.6%	13.8%
	3M	1YR
Volatility	33.6%	56.4%
Downside Capture	66.44	58.76
Upside Capture	116.30	32.79
Correlation (SPY)	15.3%	18.8%

WST Betas & Captures as of 10/31/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.47	0.65	0.48	0.86	0.56	0.78
Up Beta	-1.21	-0.45	-0.25	0.08	0.53	0.80
Down Beta	0.37	0.29	0.19	0.38	0.60	0.66
Up Capture	136%	150%	113%	162%	29%	47%
Bmk +ve Days	14	27	37	74	145	425
Stock +ve Days	12	22	30	57	116	364
Down Capture	64%	85%	54%	138%	71%	96%
Bmk -ve Days	9	17	28	53	106	327
Stock -ve Days	11	22	33	68	133	387

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of WST With Other Asset Classes (Last 1Y)
	WST	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-12.7%	0.1%	18.5%	45.0%	2.2%	-1.7%	50.6%
Annualized Volatility	56.2%	17.0%	19.6%	19.9%	16.2%	17.9%	37.1%
Sharpe Ratio	0.00	-0.16	0.74	1.76	-0.05	-0.24	0.86
Correlation With Other Assets		27.9%	19.3%	-6.8%	0.7%	18.1%	14.7%

ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of WST With Other Asset Classes (Last 5Y)
	WST	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	0.2%	9.1%	16.8%	15.9%	13.8%	6.7%	50.4%
Annualized Volatility	39.6%	14.5%	17.1%	15.6%	18.9%	19.1%	49.2%
Sharpe Ratio	0.13	0.45	0.80	0.81	0.61	0.27	0.77
Correlation With Other Assets		41.7%	38.1%	6.9%	4.3%	31.2%	18.4%

Based On 10-Year Data

		Comparison of WST With Other Asset Classes (Last 10Y)
	WST	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	16.9%	9.2%	14.3%	12.8%	5.1%	5.0%	78.6%
Annualized Volatility	34.0%	16.7%	18.0%	14.7%	17.7%	20.9%	56.2%
Sharpe Ratio	0.56	0.45	0.68	0.71	0.22	0.21	0.96
Correlation With Other Assets		46.5%	43.7%	3.8%	9.8%	32.6%	12.6%

Short Interest

Short Interest: As Of Date	10152025
Short Interest: Shares Quantity	1,517,842
Short Interest: % Change Since 9302025	-9.4%
Average Daily Volume	574,124
Days-to-Cover Short Interest	2.64
Basic Shares Quantity	72,200,000
Short % of Basic Shares	2.1%

Returns Analyses

	Title
0	How Low Can West Pharmaceutical Services Stock Really Go?
1	WST YTD Stock Return Of -1.8% Outperforms PKG by 4.9% and Underperforms AMCR by -8.3%
2	WST YTD Stock Return Of -27% Outperforms BAX by 4.9% and Underperforms SON by -36%
3	West Pharmaceutical Services Stock Return Comparison
4	Health Care Supplies Industry Return: -22% YTD Return vs 15% For S&P 500

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/23/2025	10.9%	2.8%
7/24/2025	22.8%	9.6%	6.7%
4/24/2025	-3.5%	-3.1%	-4.3%
2/13/2025	-38.2%	-36.8%	-28.6%
10/24/2024	15.4%	9.3%	12.1%
7/25/2024	-14.4%	-5.4%	-7.1%
4/25/2024	-4.5%	-5.8%	-14.8%
2/15/2024	-14.1%	-11.8%	-5.0%
...
SUMMARY STATS
# Positive	12	12	10
# Negative	12	12	14
Median Positive	6.8%	6.5%	8.6%
Median Negative	-5.5%	-5.2%	-7.1%
Max Positive	22.8%	11.8%	24.0%
Max Negative	-38.2%	-36.8%	-28.6%

	Forward Returns
10/23/2025	10.9%	2.8%
7/24/2025	22.8%	9.6%	6.7%
4/24/2025	-3.5%	-3.1%	-4.3%
2/13/2025	-38.2%	-36.8%	-28.6%
10/24/2024	15.4%	9.3%	12.1%
7/25/2024	-14.4%	-5.4%	-7.1%
4/25/2024	-4.5%	-5.8%	-14.8%
2/15/2024	-14.1%	-11.8%	-5.0%
10/26/2023	-8.6%	-10.1%	-1.3%
7/27/2023	-6.5%	-2.3%	3.2%
4/27/2023	-0.6%	3.1%	-4.8%
2/16/2023	14.5%	11.8%	18.1%
10/27/2022	-13.0%	-13.7%	-10.8%
7/28/2022	6.1%	7.2%	-1.8%
4/28/2022	-2.1%	-4.2%	-8.1%
2/17/2022	2.1%	-0.2%	9.3%
10/28/2021	-0.0%	4.0%	4.2%
7/29/2021	5.4%	11.5%	16.3%
4/29/2021	0.7%	2.0%	7.0%
2/18/2021	0.9%	-5.1%	-8.5%
10/22/2020	-1.8%	-1.5%	-1.1%
7/23/2020	2.6%	5.6%	7.9%
4/23/2020	10.2%	11.5%	24.0%
2/13/2020	7.5%	5.8%	-9.9%
SUMMARY STATS
# Positive	12	12	10
# Negative	12	12	14
Median Positive	6.8%	6.5%	8.6%
Median Negative	-5.5%	-5.2%	-7.1%
Max Positive	22.8%	11.8%	24.0%
Max Negative	-38.2%	-36.8%	-28.6%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10232025	10-Q 9/30/2025
6302025	7242025	10-Q 6/30/2025
3312025	4242025	10-Q 3/31/2025
12312024	2182025	10-K 12/31/2024
9302024	10242024	10-Q 9/30/2024
6302024	7252024	10-Q 6/30/2024
3312024	4252024	10-Q 3/31/2024
12312023	2202024	10-K 12/31/2023
9302023	10262023	10-Q 9/30/2023
6302023	7272023	10-Q 6/30/2023
3312023	4272023	10-Q 3/31/2023
12312022	2212023	10-K 12/31/2022
9302022	10272022	10-Q 9/30/2022
6302022	7282022	10-Q 6/30/2022
3312022	4282022	10-Q 3/31/2022
12312021	2222022	10-K 12/31/2021

Insider Activity

Expand for More

Industry Resources

Health Care Resources

U.S. National Library of Medicine

Health Data Management

FDA Tracker

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

West Pharmaceutical Services (WST)

Market Price (11/7/2025): $271.09 | Market Cap: $19.6 BilSector: Health Care | Industry: Health Care Supplies

West Pharmaceutical Services (WST)

Market Price (11/7/2025): $271.09Market Cap: $19.6 BilSector: Health CareIndustry: Health Care Supplies

Market Valuation & Key Metrics

WST Stock

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About West Pharmaceutical Services (WST)

West Pharmaceutical Services (WST) - Major Customers

Interactive Breakdown

Better Bets than West Pharmaceutical Services (WST)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

1 Month Top Gainers

1 Month Top Losers

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for West Pharmaceutical Services

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

Financials

Segment Financials

Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Insider Activity

Industry Resources

External Quote Links

Market Price (11/7/2025): $271.09 | Market Cap: $19.6 Bil
Sector: Health Care | Industry: Health Care Supplies

Market Price (11/7/2025): $271.09
Market Cap: $19.6 Bil
Sector: Health Care
Industry: Health Care Supplies