West Pharmaceutical Services (WST)

NYSE Health Care Health Care Supplies S&P 500

$399.81

+7.33 (+1.87%)

Close of Nov 06, 2026 · end-of-day data

Source: West Pharmaceutical Services's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Oct 30, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$1.51B	$1.60B	$1.72B	$1.84B	$2.15B	$2.83B	$2.89B	$2.95B	$2.89B	$3.07B
Cost of revenue	$1.01B	$1.09B	$1.17B	$1.23B	$1.38B	$1.66B	$1.75B	$1.82B	$1.89B	$1.97B
Gross profit	$501.40M	$512.90M	$545.40M	$605.70M	$767.80M	$1.18B	$1.14B	$1.13B	$998.50M	$1.10B
Research & development	$36.80M	$39.10M	$40.30M	$38.90M	$46.90M	$52.80M	$58.50M	$68.40M	$69.10M	$74.30M
Selling, general & admin	$239.60M	$246.00M	$262.90M	$272.70M	$302.00M	$362.80M	$316.90M	$353.40M	$338.50M	$393.60M
Operating income	$195.20M	$225.80M	$240.30M	$296.60M	$406.90M	$752.30M	$734.00M	$676.00M	$569.90M	$584.90M
Interest expense	$8.10M	$7.80M	$8.40M	$8.50M	$8.20M	$8.20M	$7.90M	$9.00M	$3.00M	$500.00K
Pre-tax income	$189.80M	$222.40M	$240.70M	$291.80M	$401.30M	$748.90M	$679.90M	$698.00M	$585.50M	$600.90M
Income tax	$54.40M	$80.90M	$41.40M	$59.00M	$72.50M	$107.20M	$114.70M	$122.30M	$107.50M	$121.60M
Net income	$143.60M	$150.70M	$206.90M	$241.70M	$346.20M	$661.80M	$585.90M	$593.40M	$492.70M	$493.70M
EBITDA	$285.90M	$322.50M	$344.70M	$400.00M	$516.00M	$874.60M	$854.60M	$813.30M	$725.30M	$756.30M
EPS (basic)	$1.96	$2.04	$2.80	$3.27	$4.68	$8.89	$7.87	$7.98	$6.75	$6.83
EPS (diluted)	$1.91	$1.99	$2.74	$3.21	$4.57	$8.67	$7.73	$7.88	$6.69	$6.79
Diluted shares	75.00M	75.80M	75.40M	75.40M	75.80M	76.30M	75.80M	75.30M	73.70M	72.70M
Gross margin	33.2%	32.1%	31.8%	32.9%	35.8%	41.5%	39.4%	38.3%	34.5%	35.9%
Operating margin	12.9%	14.1%	14.0%	16.1%	19.0%	26.6%	25.4%	22.9%	19.7%	19.0%
Net margin	9.5%	9.4%	12.0%	13.1%	16.1%	23.4%	20.3%	20.1%	17.0%	16.1%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$203.00M	$235.90M	$337.40M	$439.10M	$615.50M	$762.60M	$894.30M	$853.90M	$484.60M	$791.30M
Receivables	$200.50M	$253.20M	$288.20M	$319.30M	$385.30M	$489.00M	$507.40M	$512.00M	$552.50M	$574.40M
Inventory	$199.30M	$215.20M	$214.50M	$235.70M	$321.30M	$378.40M	$414.80M	$434.70M	$377.00M	$443.90M
Total current assets	$641.90M	$743.50M	$894.40M	$1.06B	$1.37B	$1.74B	$1.92B	$1.94B	$1.54B	$1.98B
Goodwill	$103.00M	$107.70M	$105.80M	$107.80M	$111.10M	$109.90M	$107.30M	$108.50M	$106.00M	$109.90M
Total assets	$1.72B	$1.86B	$1.98B	$2.34B	$2.79B	$3.31B	$3.62B	$3.83B	$3.64B	$4.27B
Total current liabilities	$241.00M	$279.50M	$283.70M	$341.60M	$503.40M	$594.10M	$519.00M	$671.80M	$550.40M	$654.90M
Short-term debt	$2.40M	$0	$100.00K	$2.30M	$2.30M	$44.20M	$2.20M	$134.00M	$0	$0
Long-term debt	$226.20M	$197.00M	$196.00M	$255.00M	$252.90M	$208.80M	$206.70M	$72.80M	$202.60M	$202.80M
Total debt	$228.60M	$197.00M	$196.10M	$257.30M	$255.20M	$253.00M	$208.90M	$206.80M	$202.60M	$202.80M
Total liabilities	$599.20M	$582.90M	$582.60M	$768.20M	$939.30M	$978.40M	$931.90M	$948.50M	$961.10M	$1.09B
Shareholders' equity	$1.12B	$1.28B	$1.40B	$1.57B	$1.85B	$2.34B	$2.68B	$2.88B	$2.68B	$3.18B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$219.40M	$263.30M	$288.60M	$367.20M	$472.50M	$584.00M	$724.00M	$776.50M	$653.40M	$754.80M
Capital expenditures	$170.20M	$130.80M	$104.70M	$126.40M	$174.40M	$253.40M	$284.60M	$362.00M	$377.00M	$285.90M
Free cash flow	$49.20M	$132.50M	$183.90M	$240.80M	$298.10M	$330.60M	$439.40M	$414.50M	$276.40M	$468.90M
Investing cash flow	-$175.80M	-$133.60M	-$100.80M	-$228.00M	-$179.50M	-$253.10M	-$288.20M	-$368.70M	-$378.70M	-$285.90M
Financing cash flow	-$113.90M	-$109.00M	-$80.70M	-$36.80M	-$137.10M	-$168.10M	-$293.60M	-$459.60M	-$622.60M	-$185.10M
Dividends paid	$35.80M	$39.10M	$42.10M	$45.10M	$48.10M	$51.10M	$54.10M	$57.00M	$59.10M	$61.20M
Share buybacks	$52.20M	$74.40M	$70.80M	$83.10M	$115.50M	$137.10M	$202.80M	$438.30M	$560.90M	$134.00M
Stock-based compensation	$19.50M	$16.10M	$15.10M	$24.40M	$34.00M	$37.50M	$23.70M	$23.30M	$18.70M	$23.80M
Depreciation & amortization	$90.70M	$96.70M	$104.40M	$103.40M	$109.10M	$122.30M	$120.60M	$137.30M	$155.40M	$171.40M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$732.00M	$695.40M	$702.10M	$746.90M	$748.80M	$698.00M	$766.50M	$804.60M	$805.00M	$844.90M	$872.30M	$874.50M
Cost of revenue	$453.80M	$465.20M	$472.10M	$482.20M	$475.20M	$466.10M	$492.60M	$510.30M	$501.10M	$548.50M	$543.10M	$527.10M
Gross profit	$278.20M	$230.20M	$230.00M	$264.70M	$273.60M	$231.90M	$273.90M	$294.30M	$303.90M	$296.40M	$329.20M	$347.40M
Research & development	$18.40M	$17.60M	$17.50M	$15.50M	$18.50M	$16.30M	$19.10M	$17.10M	$21.80M	$15.80M	$19.70M	$18.30M
Selling, general & admin	$90.00M	$86.70M	$83.00M	$83.50M	$85.30M	$88.00M	$95.90M	$102.70M	$107.00M	$99.50M	$117.60M	$112.90M
Operating income	$160.90M	$122.80M	$126.20M	$161.30M	$159.60M	$107.00M	$153.70M	$167.60M	$156.60M	$177.10M	$179.10M	$267.40M
Interest expense	$1.20M	$1.60M	$1.50M	$700.00K	-$800.00K	$400.00K	$100.00K	$200.00K	-$200.00K	$1.90M	$2.60M	$3.80M
Pre-tax income	$168.20M	$127.40M	$128.70M	$164.50M	$164.90M	$110.50M	$157.00M	$171.90M	$161.50M	$180.10M	$180.10M	$267.70M
Income tax	$34.50M	$16.40M	$21.90M	$32.40M	$36.80M	$24.10M	$30.20M	$34.00M	$33.30M	$44.70M	$32.20M	$58.00M
Net income	$137.00M	$115.30M	$111.30M	$136.00M	$130.10M	$89.80M	$131.80M	$140.00M	$132.10M	$138.80M	$154.00M	$214.00M
EBITDA	$195.50M	$158.40M	$165.10M	$201.50M	$200.30M	$147.00M	$195.10M	$210.60M	$203.60M	$222.30M	$225.30M	$313.30M
EPS (basic)	$1.85	$1.57	$1.52	$1.87	$1.79	$1.24	$1.82	$1.94	$1.83	$1.93	$2.17	$3.04
EPS (diluted)	$1.83	$1.55	$1.51	$1.85	$1.78	$1.23	$1.82	$1.92	$1.82	$1.92	$2.15	$3.02
Diluted shares	-200.00K	74.30M	73.70M	73.40M	-100.00K	73.00M	72.50M	72.60M	0	72.40M	71.30M	70.80M
Gross margin	38.0%	33.1%	32.8%	35.4%	36.5%	33.2%	35.7%	36.6%	37.8%	35.1%	37.7%	39.7%
Operating margin	22.0%	17.7%	18.0%	21.6%	21.3%	15.3%	20.1%	20.8%	19.5%	21.0%	20.5%	30.6%
Net margin	18.7%	16.6%	15.9%	18.2%	17.4%	12.9%	17.2%	17.4%	16.4%	16.4%	17.7%	24.5%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$853.90M	$601.80M	$446.20M	$490.90M	$484.60M	$404.20M	$509.70M	$628.50M	$791.30M	$521.40M	$435.80M	$464.10M
Receivables	$512.00M	$524.00M	$479.40M	$524.30M	$552.50M	$543.60M	$582.40M	$625.00M	$574.40M	$685.60M	$712.00M	$748.20M
Inventory	$434.70M	$429.90M	$419.20M	$401.20M	$377.00M	$388.70M	$421.10M	$438.00M	$443.90M	$452.60M	$447.40M	$464.70M
Total current assets	$1.94B	$1.69B	$1.48B	$1.55B	$1.54B	$1.46B	$1.68B	$1.82B	$1.98B	$1.83B	$1.81B	$1.82B
Goodwill	$108.50M	$107.60M	$107.30M	$108.80M	$106.00M	$107.50M	$110.90M	$110.60M	$109.90M	$109.20M	$108.70M	$108.70M
Total assets	$3.83B	$3.60B	$3.49B	$3.68B	$3.64B	$3.62B	$3.95B	$4.11B	$4.27B	$4.11B	$4.08B	$4.06B
Total current liabilities	$671.80M	$648.40M	$633.70M	$516.50M	$550.40M	$526.70M	$604.60M	$635.40M	$654.90M	$674.00M	$640.50M	$644.30M
Short-term debt	$134.00M	$133.40M	$132.90M	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-term debt	$72.80M	$72.80M	$72.90M	$202.60M	$202.60M	$202.60M	$202.60M	$202.70M	$202.80M	$202.80M	$202.90M	$202.90M
Total debt	$206.80M	$206.20M	$205.80M	$202.60M	$202.60M	$202.60M	$202.60M	$202.70M	$202.80M	$202.80M	$202.90M	$202.90M
Total liabilities	$948.50M	$921.70M	$912.60M	$923.00M	$961.10M	$935.10M	$1.02B	$1.05B	$1.09B	$1.12B	$1.09B	$1.09B
Shareholders' equity	$2.88B	$2.68B	$2.58B	$2.75B	$2.68B	$2.68B	$2.93B	$3.05B	$3.18B	$2.99B	$2.99B	$2.97B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$239.10M	$118.20M	$165.00M	$180.10M	$190.10M	$129.40M	$177.10M	$197.20M	$251.10M	$89.90M	$124.00M	$189.50M
Capital expenditures	$108.70M	$90.60M	$100.20M	$81.30M	$104.90M	$71.30M	$75.20M	$63.30M	$76.10M	$42.70M	$43.20M	$39.10M
Free cash flow	$130.40M	$27.60M	$64.80M	$98.80M	$85.20M	$58.10M	$101.90M	$133.90M	$175.00M	$47.20M	$80.80M	$150.40M
Investing cash flow	-$108.80M	-$90.60M	-$101.20M	-$82.10M	-$104.80M	-$71.30M	-$75.20M	-$63.30M	-$76.10M	-$42.70M	-$43.20M	$78.90M
Financing cash flow	-$189.50M	-$271.00M	-$218.30M	-$64.40M	-$68.90M	-$147.00M	-$14.90M	-$11.50M	-$11.70M	-$308.70M	-$164.80M	-$241.80M
Dividends paid	$14.80M	$14.70M	$14.60M	$14.50M	$15.30M	$15.20M	$15.10M	$15.10M	$15.80M	$15.80M	$15.70M	$15.50M
Share buybacks	$177.00M	$267.00M	$187.10M	$52.40M	$54.40M	$133.50M	$500.00K	$0	$0	$297.60M	$156.70M	$231.00M
Stock-based compensation	$1.40M	$5.00M	$4.30M	$5.10M	$4.30M	$1.30M	$7.40M	$8.40M	$6.70M	$6.60M	$10.90M	$4.30M
Depreciation & amortization	$34.60M	$35.60M	$38.90M	$40.20M	$40.70M	$40.00M	$41.40M	$43.00M	$47.00M	$45.20M	$46.20M	$45.90M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.