Income StatementBalance SheetCash FlowSegments
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West Pharmaceutical Services Cash Flow Statement

Operating, investing, and financing cash movements

West Pharmaceutical Services generated $715.3M in operating cash flow over the trailing twelve months. After $257.3M in capital expenditures, free cash flow was $458.0M. Free cash flow increased 0.5% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$715.3MNet Cash From Investing (TTM)-$257.3MNet Cash From Financing (TTM)-$346.8MCapital Expenditures (TTM)$257.3MDepreciation And Amortization Cf (TTM)$174.1MNet Change In Cash (TTM)$117.2M
Latest FilingQ1 2026
Report Date2026-04-23
Market Cap$21.5B
P/E Ratio39.63
ROE19.13%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$104.9M$71.3M$75.2M$63.3M$76.1M$42.7M
Net cash from investing activities-$104.8M-$71.3M-$75.2M-$63.3M-$76.1M-$42.7M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable$725.0K$4.5M$4.5M$4.5M$4.5M—
Change in accounts receivable$14.7M-$1.7M-$1.7M-$1.7M-$1.7M—
Change in inventories-$10.5M$15.7M$15.7M$15.7M$15.7M—
Change in other current assets$1.5M-$2.4M-$2.4M-$2.4M-$2.4M—
Other working capital changes-$32.3M$2.9M$4.0M-$2.5M-$112.5M-$1.0M
Depreciation and amortization$39.8M$39.1M$40.8M$42.3M$46.4M$44.6M
Distributions from equity method investments$3.4M$2.6M$2.6M$2.6M$2.6M—
Impairment charges$5.4M$300.0K$3.8M$300.0K$7.3M$300.0K
Net cash from operating activities$190.1M$129.4M$177.1M$197.2M$251.1M$89.9M
Net income$130.1M$89.8M$131.8M$140.0M$132.1M$138.8M
Income Loss From Equity Method Investments Net Of Dividends Or Distributions$3.4M$2.6M$2.6M$2.6M$2.6M—
Increase (Decrease) in Other Current Assets$1.5M-$2.4M-$2.4M-$2.4M-$2.4M—
Pension and other retirement plans, net-$500.0K$150.0K$150.0K$150.0K$150.0K—
Stock-based compensation$4.3M$1.3M$7.4M$8.4M$6.7M$6.6M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Dividends paid$15.3M$15.2M$15.1M$15.1M$15.8M$15.8M
Net cash from financing activities-$68.9M-$147.0M-$14.9M-$11.5M-$11.7M-$308.7M
Payments for finance leases$100.0K$200.0K$300.0K$300.0K$300.0K$300.0K
Proceeds from issuance of common stock$1.5M$2.5M$3.5M$2.2M$3.1M$5.5M
Repurchases of common stock$54.4M$133.5M$500.0K——$297.6M
Taxes paid for net share settlement$200.0K$2.5M$0.0$100.0K$200.0K$2.5M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$85.2M$58.1M$101.9M$133.9M$175.0M$47.2M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$22.7M$8.5M$18.5M——-$8.4M
Net increase (decrease) in cash-$6.3M-$80.4M$105.5M$118.8M$162.8M-$269.9M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$17.9M$31.3M$31.3M$31.3M$31.3M—
Interest paid$125.0K$75.0K$75.0K$75.0K$75.0K—
Income Taxes Paid, Net$17.9M$31.3M$31.3M$31.3M$31.3M—