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WST Financials West Pharmaceutical Services

11 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has grown 7.4% per year over the past 5 years.
  • Net income has grown in line with revenue (7.4% vs 7.4% per year).
  • Operating margin has been roughly flat, at 19.0% in the latest year.
  • Free cash flow has grown 9.5% per year over the past 5 years.

Financial health

  • The company holds more cash ($791M) than total debt ($203M).
  • Total debt has grown slower than revenue (-4.5% vs 7.4% per year).
  • Operating income covered interest expense 1170× in the latest year.
  • Total debt is 0.3× EBITDA.

Shareholder returns

  • Dividends have been paid for 11 consecutive years, consuming 12.4% of earnings and 13.1% of free cash flow.
  • The dividend has grown 4.9% per year over the past 5 years.
Revenue & net income
$0 $2B $3B 2008 2010 2019 2021 2023 2025
RevenueNet income
Margins (gross / operating / net)
0% 21% 42% 2008 2010 2019 2021 2023 2025
GrossOperatingNet
Free cash flow (CFO − capex)
-$4M $233M $469M $0 2008 2010 2019 2021 2023 2025
Free cash flow
Cash vs total debt
$0 $447M $894M 2008 2010 2019 2021 2023 2025
CashTotal debt
Cash flow: operating / investing / financing
-$623M $77M $777M $0 2008 2010 2019 2021 2023 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MFCFTotal debtCash
2025 $3.1B $494M 35.9% 19.0% $469M $203M $791M
2024 $2.9B $493M 34.5% 19.7% $276M $203M $485M
2023 $2.9B $593M 38.3% 22.9% $415M $207M $854M
2022 $2.9B $586M 39.4% 25.4% $439M $209M $894M
2021 $2.8B $662M 41.5% 26.6% $331M $253M $763M
2020 $2.1B $346M 35.8% 19.0% $298M $255M $616M
2019 $1.8B $242M 32.9% 16.1% $241M $257M $439M
2018 $1.7B $207M 31.8% 14.0% $184M $196M $337M
2010 — $65M — — $67M $358M $110M
2009 — $73M — — $33M $379M $83M
2008 — $86M — — -$4M — $87M

Valuation over time

How the market has priced WST against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 24.8 49.5 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/E
Price / sales (P/S)
0.0 5.0 10.0 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/S
Dividend yield (%)
0.0 0.2 0.4 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
Dividend yield %

Frequently asked questions

Is WST growing its revenue and profit?

Over the past 5 years, West Pharmaceutical Services's revenue has grown 7.4% per year, and net income grown 7.4% per year. These are computed facts, not advice.

How much debt does WST have?

As of FY2025, West Pharmaceutical Services reported $203M of total debt against $791M of cash; operating income covered interest expense 1170×.

What is WST's profit margin?

In FY2025, gross margin was 35.9%, operating margin 19.0%, and net margin 16.1%.

What is WST's P/E ratio?

As of Jun '26, West Pharmaceutical Services traded at a price-to-earnings ratio of about 49.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.