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West Pharmaceutical Services

WST

West Pharmaceutical Services is a global leader in the design and manufacture of high-quality containment and delivery systems for injectable medicines.

Market cap
$24.63B+39.2%
Revenue$3.3B+12.4%
Net income$564.9M+15.8%
Free cash flow$436.9M+27.0%
EPS (diluted)$7.81+16.9%
Trailing twelve months · change vs. prior year

Earnings

Next report

Oct 22, 2026 (in 2 months)
Revenue estimate$825.9M
EPS estimate$2.18

Financials

Q2 2026

Income statement

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Revenue$872.3M+13.8%
Gross profit$329.2M+20.2%
Operating income$179.1M+16.5%
Net income$154.0M+16.8%
EPS (diluted)$2.15+18.1%

Balance sheet

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Cash & equivalents$435.8M-14.5%
Total debt$316.5M+2.7%
Total equity$3.0B+2.1%
Total assets$4.1B+3.1%

Cash flow

See full
Operating cash flow$124.0M-30.0%
CapEx$43.2M-42.6%
Free cash flow$80.8M-20.7%

Valuation & ratios

Valuation

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Market cap$24.63B+39.2%
Enterprise value$24.51B+40.2%
P/E43.6×+7.3×
P/S7.4×+1.4×

Profitability

See full
Gross margin36.8%+1.5pp
Operating margin20.5%+0.8pp
Net margin17%+0.5pp
FCF margin13.1%+1.5pp

Returns & leverage

See full
Return on equity19.1%+1.4pp
Debt / equity0.1×0.0×
Current ratio2.8×0.0×

Segments

By segment

See full
Proprietary Products$722.6M+16.6%
West Vantage$149.7M+2.0%

Competitors

Profile

West Pharmaceutical Services is a global leader in the design and manufacture of high-quality containment and delivery systems for injectable medicines. The company provides integrated solutions that ensure the safe and efficient administration of drugs, ranging from primary packaging components to sophisticated drug delivery devices and contract manufacturing services.

Competitive position

A dominant global player in the injectable drug containment market, characterized by high switching costs and rigorous regulatory quality standards.

GeographiesNorth America, Europe, Asia-Pacific, South America
Customer segmentsBiopharmaceutical companies, Generic drug manufacturers, Medical device OEMs
Business modelB2B Manufacturing, Contract Manufacturing (CMO), Intellectual Property Licensing
SuppliersElastomeric raw material suppliers, Specialty polymer producers, Aluminum and plastic resin suppliers
CustomersBiotechnology firms, Global pharmaceutical corporations, Contract Development and Manufacturing Organizations (CDMOs)
Listed1973
Employees10.6K
CEOEric Green
FilingsSEC EDGAR

FAQ

What is West Pharmaceutical Services's market cap?
West Pharmaceutical Services (WST) has a market capitalization of $24.6B and trades on NYSE.
What is West Pharmaceutical Services's revenue and profitability?
West Pharmaceutical Services generated $3.3B in trailing twelve-month revenue with net income of $564.9M, representing a net margin of 17.0%. Gross margin stands at 36.8%, with free cash flow of $436.9M. These figures are based on the Q2 2026 filing.
Who are West Pharmaceutical Services's competitors?
West Pharmaceutical Services's key competitors include AptarGroup, Inc., Stevanato Group, Becton, Dickinson and Company, and others. These companies compete in similar markets and product categories.
Who does West Pharmaceutical Services partner with?
West Pharmaceutical Services's notable partners include Daikyo Seiko, Ltd..
What subsidiaries does West Pharmaceutical Services have?
West Pharmaceutical Services's subsidiaries include Medimop Medical Projects Ltd., The Tech Group.
Where is West Pharmaceutical Services headquartered?
West Pharmaceutical Services is headquartered in United States of America and employs approximately 10,600 people. It has been publicly traded since 1973.