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West Pharmaceutical Services (WST)

Market Price (9/17/2025): $259.5 | Market Cap: $18.7 Bil
Sector: Health Care | Industry: Health Care Supplies

West Pharmaceutical Services (WST)

Market Price (9/17/2025): $259.5
Market Cap: $18.7 Bil
Sector: Health Care
Industry: Health Care Supplies

Investment Highlights

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 -82%, 3Y Excs Rtn is -79%		 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 31x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 28x, P/EPrice/Earnings or Price/(Net Income) is 38x
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 12%		  Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.4%
2 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35%		  
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 12%
2 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35%
3 Weak multi-year price returns
2Y Excs Rtn is -82%, 3Y Excs Rtn is -79%
4 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 31x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 28x, P/EPrice/Earnings or Price/(Net Income) is 38x
5 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.4%

Market Valuation

 9/17/252024202320222021
Share Price CYE$259.50$326.76$350.42$233.81$464.82
Market Cap CYE ($ Bil)18.723.825.917.435.1
Total Debt ($ Bil)0.30.30.30.30.3
Total Cash ($ Bil)0.50.50.90.90.8
Enterprise Value ($ Bil)18.524.126.217.735.4
Valuation Ratios     
P/S TTM6.38.38.96.112.3
P/EBIT TTM31.440.637.025.546.1
P/E TTM38.448.544.129.952.7
Sector Ratios     
P/S TTM (Sector)3.73.64.14.57.3
P/EBIT TTM (Sector)-1.6-1.3-1.4-1.3-2.9
P/E TTM (Sector)-1.8-1.5-1.5-1.3-2.9
 9/17/2520242023
Share Price CYE$259.50$326.76$350.42
Market Cap CYE ($ Bil)18.723.825.9
Total Debt ($ Bil)0.30.30.3
Total Cash ($ Bil)0.50.50.9
Enterprise Value ($ Bil)18.524.126.2
Valuation Ratios   
P/S TTM6.38.38.9
P/EBIT TTM31.440.637.0
P/E TTM38.448.544.1
Sector Ratios   
P/S TTM (Sector)3.73.64.1
P/EBIT TTM (Sector)-1.6-1.3-1.4
P/E TTM (Sector)-1.8-1.5-1.5

Market Cap Chart

Business Description

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. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
WST Return89%66%-50%50%-7%-21%71%
Peers Return20%10%2%-3%17%-1%51%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: RMD, PKG, AMCR, SLGN, SON. See WST Returns vs. Peers.
[3] 2025 data is for the year up to 9/16/2025 (YTD)

Better Bets than West Pharmaceutical Services (WST)

 WSTBetter Performance than WST
MetricValueIndustry (Health Care Supplies)
Rev Chg LTM2.9%COO (6.4%), MMSI (8.2%), LNTH (5.7%), ICUI (3.0%), BLFS (37.6%)
Rev Chg 3Y Avg0.4%COO (7.9%), MMSI (8.0%), LNTH (34.3%), ICUI (10.7%), HAE (9.7%)
Op Mgn LTM21.0%LNTH (28.9%)
CFO/Rev LTM22.9%LNTH (34.7%)
FCF/Rev LTM11.6%ALGN (15.9%), MMSI (12.8%), LNTH (31.1%), HAE (14.1%), BLFS (15.0%)
Total Yield2.8%COO (3.1%), ALGN (4.6%), LNTH (7.6%), HAE (6.7%)
 WSTBetter Performance than WST
MetricValueAll Other Sectors
Rev Chg LTM2.9%NVDA (71.6%), MSFT (14.9%), AAPL (6.0%), GOOGL (13.1%), AMZN (10.9%)
Rev Chg 3Y Avg0.4%NVDA (92.0%), MSFT (12.5%), AAPL (1.8%), GOOGL (10.2%), AMZN (11.3%)
Op Mgn LTM21.0%NVDA (58.1%), MSFT (45.6%), AAPL (31.9%), GOOGL (32.7%), META (42.9%)
CFO/Rev LTM22.9%NVDA (46.6%), MSFT (48.3%), AAPL (26.6%), GOOGL (36.0%), META (56.4%)
FCF/Rev LTM11.6%NVDA (43.6%), MSFT (25.4%), AAPL (23.5%), GOOGL (18.0%), META (30.7%)
Total Yield2.8%MSFT (3.3%), AAPL (3.2%), GOOGL (4.1%), AMZN (2.8%), META (3.6%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1West Pharmaceutical Services Earnings Notes  
2West Pharmaceutical Services vs Apple: Which Is A Better Investment?Counter-Intuitive Comparisons 
3West Pharmaceutical Services vs Johnson & Johnson: Which Is A Better Investment?Counter-Intuitive Comparisons 
4West Pharmaceutical Services vs Lantheus: Which Is A Better Investment?Counter-Intuitive Comparisons 
5How Does WST Stack Up Against Its Peers?Peer Comparison 
6Better Bet Than WST Stock: Pay Less Than West Pharmaceutical Services To Get More From AAPL, GOOGL   
7Better Bet Than WST Stock: Pay Less Than West Pharmaceutical Services To Get More From UNH, MRK   
8Better Bet Than WST Stock: Pay Less Than West Pharmaceutical Services To Get More From COO, HAE   
9Day 5 of Loss Streak for West Pharmaceutical Services Stock with -14% Return (vs. -27% YTD) [7/31/2025]Notification 
10WST Dip Buy Analysis  
11ARTICLES  
12WST Stock Down -14% after 5-Day Loss Streak August 1st, 2025
13S&P 500 Movers | Winners: WST, URI, LH | Losers: LKQ, DOW, MOH July 25th, 2025
14Market Movers | Winners: BE, WST, ICLR | Losers: CYH, NVCR, IRDM July 25th, 2025
15Why Did West Pharmaceutical Services Stock Drop Almost 40%? February 14th, 2025
16Is There A Better Pick Over West Pharmaceutical Services Stock? March 10th, 2022
Title
0DASHBOARDS
1WST Stock Down -14% after 5-Day Loss Streak
2S&P 500 Movers | Winners: WST, URI, LH | Losers: LKQ, DOW, MOH
3Market Movers | Winners: BE, WST, ICLR | Losers: CYH, NVCR, IRDM
4Why Did West Pharmaceutical Services Stock Drop Almost 40%?
5Is There A Better Pick Over West Pharmaceutical Services Stock?
6ARTICLES
7West Pharmaceutical Services Earnings Notes
8West Pharmaceutical Services vs Apple: Which Is A Better Investment?
9West Pharmaceutical Services vs Johnson & Johnson: Which Is A Better Investment?
10West Pharmaceutical Services vs Lantheus: Which Is A Better Investment?
11How Does WST Stack Up Against Its Peers?
12Better Bet Than WST Stock: Pay Less Than West Pharmaceutical Services To Get More From AAPL, GOOGL 
13Better Bet Than WST Stock: Pay Less Than West Pharmaceutical Services To Get More From UNH, MRK 
14Better Bet Than WST Stock: Pay Less Than West Pharmaceutical Services To Get More From COO, HAE 
15Day 5 of Loss Streak for West Pharmaceutical Services Stock with -14% Return (vs. -27% YTD) [7/31/2025]
16WST Dip Buy Analysis

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1BDSXBiodesix1313.2%-78.6%
2CLSDClearside Biomedical954.0%-74.9%
3SDOTSadot624.1%-79.4%
4WLDSWearable Devices498.0%-30.0%
5CHEKCheck-Cap285.6%154.6%
6ATCHAtlasClear275.9%-91.0%
7HSDTHelius Medical Technologies262.5%-95.6%
8OPIOffice Properties Income Trust261.7%-13.4%
9FGIFGI Industries156.8%145.2%
10AIREReAlpha Tech154.0%-56.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1NAKAKindly MD-81.4% 
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3LGCLLucas GC-73.6%-77.1%
4EPSMEpsium Enterprise-70.1% 
5BNGOBionano Genomics-59.4%-89.7%
6FAASDigiAsia-58.5%-87.2%
7QMMMQMMM-57.5%6775.0%
8VCIGVCI Global-56.9%-99.1%
9YYGHYY-56.6%-78.5%
10XAGELongevity Health-55.5%-86.1%

1 Month Top Gainers

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8ENTOEntero Therapeutics565.6%117.6%
9PTNMPitanium553.2% 
10WLDSWearable Devices449.5%-30.0%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1CJETChijet Motor-92.2%-95.0%
2STFSStar Fashion Culture-92.2%-97.8%
3ELPWElong Power-91.6%-76.7%
4NXTTNext Technology-89.6%-95.1%
5NAKAKindly MD-89.0% 
6BINIBollinger Innovations-88.9%-100.0%
7JEM707 Cayman-88.4%-98.2%
8YAASYouxin Technology-82.5%-98.3%
9NEONNeonode-82.0%-50.2%
10NVNOenVVeno Medical-81.5%-69.8%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1BDSXBiodesix1313.2%-78.6%
2CLSDClearside Biomedical954.0%-74.9%
3SDOTSadot624.1%-79.4%
4WLDSWearable Devices498.0%-30.0%
5CHEKCheck-Cap285.6%154.6%
6ATCHAtlasClear275.9%-91.0%
7HSDTHelius Medical Technologies262.5%-95.6%
8OPIOffice Properties Income Trust261.7%-13.4%
9FGIFGI Industries156.8%145.2%
10AIREReAlpha Tech154.0%-56.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1NAKAKindly MD-81.4% 
2ATYRaTyr Pharma-79.7%-70.2%
3LGCLLucas GC-73.6%-77.1%
4EPSMEpsium Enterprise-70.1% 
5BNGOBionano Genomics-59.4%-89.7%
6FAASDigiAsia-58.5%-87.2%
7QMMMQMMM-57.5%6775.0%
8VCIGVCI Global-56.9%-99.1%
9YYGHYY-56.6%-78.5%
10XAGELongevity Health-55.5%-86.1%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for West Pharmaceutical Services

Financials

WSTRMDPKGAMCRSLGNSONMedian
NameWest Pha.ResMed Packagin.Amcor Silgan Sonoco P. 
Mkt Price258.35272.60211.478.3943.2747.17129.32
Mkt Cap18.739.918.917.04.64.717.8
Rev LTM2,9605,1468,64115,0096,1625,6645,913
Op Inc LTM6221,6871,2891,316621448956
FCF LTM3441,65162581057143485
FCF 3Y Avg3661,166704791219301535
CFO LTM6771,7521,2911,390344544984
CFO 3Y Avg7121,2821,3321,324467676997

Growth & Margins

WSTRMDPKGAMCRSLGNSONMedian
NameWest Pha.ResMed Packagin.Amcor Silgan Sonoco P. 
Rev Chg LTM2.9%9.8%9.0%10.0%5.5%23.3%9.4%
Rev Chg 3Y Avg0.4%12.9%1.0%1.3%0.6%-3.0%0.8%
Rev Chg Q9.2%10.2%4.6%43.8%11.4%49.4%10.8%
QoQ Delta Rev Chg LTM2.2%2.5%1.1%11.5%2.6%12.6%2.6%
Op Mgn LTM21.0%32.8%14.9%8.8%10.1%7.9%12.5%
Op Mgn 3Y Avg22.2%29.9%14.6%9.3%10.2%9.1%12.4%
QoQ Delta Op Mgn LTM0.5%0.7%0.3%-1.7%0.2%0.6%0.4%
CFO/Rev LTM22.9%34.0%14.9%9.3%5.6%9.6%12.3%
CFO/Rev 3Y Avg24.6%26.8%16.3%9.2%7.8%13.1%14.7%
FCF/Rev LTM11.6%32.1%7.2%5.4%0.9%2.5%6.3%
FCF/Rev 3Y Avg12.6%24.3%8.6%5.5%3.7%5.9%7.3%

Valuation

WSTRMDPKGAMCRSLGNSONMedian
NameWest Pha.ResMed Packagin.Amcor Silgan Sonoco P. 
Mkt Cap18.739.918.917.04.64.717.8
P/S6.37.82.21.10.80.81.7
P/EBIT31.223.715.216.38.317.216.7
P/E38.228.520.933.315.38.424.7
P/CFO27.622.814.612.313.58.614.0
Total Yield2.8%4.3%7.2%8.0%8.3%16.3%7.6%
Dividend Yield0.2%0.8%2.4%5.0%1.8%4.4%2.1%
FCF Yield 3Y Avg1.7%3.6%4.9%5.1%4.7%5.9%4.8%
D/E0.00.00.10.91.11.20.5
Net D/E-0.0-0.00.10.81.01.10.5

Returns

WSTRMDPKGAMCRSLGNSONMedian
NameWest Pha.ResMed Packagin.Amcor Silgan Sonoco P. 
1M Rtn4.9%-4.3%10.0%-2.4%-6.5%2.0%-0.2%
3M Rtn18.6%9.2%14.1%-6.1%-19.1%9.0%9.1%
6M Rtn10.4%24.3%8.3%-12.9%-12.2%1.9%5.1%
12M Rtn-12.7%9.2%1.0%-20.3%-14.3%-11.3%-12.0%
3Y Rtn-2.9%25.6%97.8%-16.3%-2.5%-11.3%-2.7%
1M Excs Rtn2.5%-6.7%7.5%-4.8%-8.9%-0.4%-2.6%
3M Excs Rtn5.8%-1.0%2.8%-16.8%-29.9%-2.3%-1.6%
6M Excs Rtn-4.6%5.4%-8.6%-28.6%-28.9%-14.0%-11.3%
12M Excs Rtn-31.0%-8.4%-13.5%-36.7%-30.2%-27.2%-28.7%
3Y Excs Rtn-79.4%-43.7%4.9%-83.0%-67.4%-80.5%-73.4%

Comparison Analyses

Title
0How Does WST Stack Up Against Its Peers?
1BAX Looks Stronger Than WST With 18% Return Potential
2WST Looks Stronger Than PKG With 15% Return Potential
3SLGN or WST - With 15% Return Forecast, WST Probably Deserves Your Money
4West Pharmaceutical Services vs. Dominion Resources: With Return Forecast Of 80%, Dominion Resources Is A Better Bet
5West Pharmaceutical Services vs. Fidelity National Information Services: With Return Forecast Of 19%, Fidelity National Information Services Is A Better Bet
6West Pharmaceutical Services vs. Transdigm Group: With Return Forecast Of 50%, Transdigm Group Is A Better Bet
7West Pharmaceutical Services vs. Arista Networks: Similar Revenue, Similar Bets
8West Pharmaceutical Services vs. Match Group: Similar Revenue, Similar Bets
9West Pharmaceutical Services vs. DexCom: Similar Revenue, But DexCom Is A Better Bet

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date7/24/20254/24/20252/18/202510/24/20247/25/20244/25/20242/20/202410/26/20237/27/20234/27/20232/21/202310/27/2022
Key Financials Quarterly            
Total Revenue766698749747702695732747754717709687
Ebitda198151205205169165205226222192162168
Operating Income159128170166130126170183186168160188
Net Income13290130136111115137161155140103121
EPS1.821.241.791.871.521.571.852.172.081.881.381.62
Key Financials TTM            
Total Revenue TTM2,9602,8962,8932,8762,8772,9292,9502,9262,8662,8842,8872,909
Ebitda TTM760730744744765817844800743780808866
Operating Income TTM622593591591608665707698703742761789
Net Income TTM488467493500525569593559519552586631
Growth Rates Quarterly            
Total Revenue Growth9.2%0.4%2.3%-0.1%-6.9%-3.0%3.3%8.8%-2.3%-0.5%-3.0%-2.8%
EBITDA Growth17.4%-8.3%-0.2%-9.0%-23.7%-14.1%27.1%34.1%-14.4%-12.7%-26.2%-21.0%
Operating Income Growth22.7%1.4%0.0%-9.4%-30.6%-25.1%5.8%-2.8%-17.3%-9.9%-15.0%2.7%
Net Income Growth18.4%-22.1%-5.0%-15.7%-28.2%-17.6%33.0%33.7%-17.7%-19.4%-30.3%-31.3%
Margins Quarterly            
EBITDA Margin25.9%21.6%27.4%27.5%24.1%23.7%28.0%30.2%29.4%26.8%22.8%24.5%
Operating Income Margin20.7%18.3%22.7%22.2%18.4%18.1%23.2%24.5%24.7%23.5%22.6%27.4%
Net Income Margin17.2%12.9%17.4%18.2%15.9%16.6%18.7%21.6%20.6%19.5%14.5%17.6%
Cash & Debt            
Total Cash510404485491446602854899796886894729
Total Debt303303302305311307309307311314318300
Net Debt / (Cash)-206-101-182-186-136-295-545-592-485-572-576-429
Cash Flows Quarterly            
FCF from Operations177129190180165118239230169138231169
Cash Flows TTM            
FCF from Operations TTM677665653702752757776768707711724654
Returns to Shareholders Quarterly            
Dividends151515141515151414141414
Share Repurchases013655521872721772817472-028
Return on Invested Capital (ROIC) Quarterly            
ROIC------------
Return on Invested Capital (ROIC) TTM            
ROIC TTM------------

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Proprietary Products2,3972,4072,3171,6491,399
Contract-Manufactured Products552480515499442
Intersegment sales elimination0-0-0-0-0
Total2,9502,8872,8322,1471,840


Operating Income by Segment
$ Mil20242023202220212020
Proprietary Products710784796434314
Contract-Manufactured Products7260676949
Restructuring and related charges2-24-2  
Amortization of acquisition-related intangible assets-1-1-1  
Cost investment activity-4-4-4  
Loss on disposal of plant-1200  
Stock Based Compensation-23-24-38  
Corporate general costs-68-59-63  
Asset impairment  -3  
Intersegment sales elimination   -96-66
Total676734752407297


Assets by Segment
$ Mil20242023202220212020
Proprietary Products2,629  1,7981,481
Corporate and Unallocated673  584475
Contract-Manufactured Products528  412386
Total3,830  2,7942,341


Price Behavior

WST Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta0.160.520.760.680.570.85
Up Beta0.22-2.35-1.270.620.500.88
Down Beta-0.25-1.25-0.180.480.600.72
Up Capture42%271%195%83%26%47%
Bmk +ve Days10223571142415
Stock +ve Days8152555113359
Down Capture-4%247%180%92%80%100%
Bmk -ve Days11192754106334
Stock -ve Days11253669134390

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

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity1,534,953
Short Interest: % Change Since 8152025-14.4%
Average Daily Volume514,025
Days-to-Cover Short Interest2.99
Basic Shares Quantity72,200,000
Short % of Basic Shares2.1%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/24/202522.8%9.6%6.7%
4/24/2025-3.5%-3.1%-4.3%
2/13/2025-38.2%-36.8%-28.6%
10/24/202415.4%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%
...
SUMMARY STATS   
# Positive111211
# Negative131213
Median Positive6.1%6.5%7.9%
Median Negative-4.5%-5.2%-7.1%
Max Positive22.8%11.8%24.0%
Max Negative-38.2%-36.8%-28.6%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025724202510-Q 6/30/2025
3312025424202510-Q 3/31/2025
12312024218202510-K 12/31/2024
93020241024202410-Q 9/30/2024
6302024725202410-Q 6/30/2024
3312024425202410-Q 3/31/2024
12312023220202410-K 12/31/2023
93020231026202310-Q 9/30/2023
6302023727202310-Q 6/30/2023
3312023427202310-Q 3/31/2023
12312022221202310-K 12/31/2022
93020221027202210-Q 9/30/2022
6302022728202210-Q 6/30/2022
3312022428202210-Q 3/31/2022
12312021222202210-K 12/31/2021
93020211028202110-Q 9/30/2021

Insider Activity

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Industry Resources

External Quote Links


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