What is West Pharmaceutical Services's R&D?

West Pharmaceutical Services (WST) reported R&D of $15.8M in Q1 2026.

How has West Pharmaceutical Services's R&D changed year-over-year?

West Pharmaceutical Services's R&D decreased by 3.1% year-over-year, from $16.3M to $15.8M.

What is the long-term trend for West Pharmaceutical Services's R&D?

Over 4 years (2021 to 2025), West Pharmaceutical Services's R&D has grown at a 8.9% compound annual growth rate (CAGR), from $52.8M to $74.3M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

West Pharmaceutical Services WST R&D

R&D at other companies

Becton, Dickinson and CompanyBDX

$249M+7.3%

Halozyme TherapeuticsHALO

$25.56M+72.7%

DowDOW

$181M-9.5%

DuPont de Nemours, Inc.DD

$47M-6.0%

Cumberland PharmaceuticalsCPIX

$1.46M+12.6%

UFP TechnologiesUFPT

$2.15M-17.3%

Segments

By segment

See full

Proprietary Products$15.8M-3.1%

West Vantage$0—

Other financials

Income statement

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Revenue$844.9M+21.0%

Gross profit$296.4M+27.8%

Operating income$177.1M+65.5%

Net income$138.8M+54.6%

EPS (diluted)$1.92+56.1%

Balance sheet

See full

Cash & equivalents$521.4M+29.0%

Total debt$321.0M+4.4%

Total equity$3.0B+11.5%

Total assets$4.1B+13.6%

Cash flow

See full

Operating cash flow$89.9M-30.5%

CapEx$42.7M-40.1%

Free cash flow$47.2M-18.8%

Valuation

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Market cap$25.36B+64.2%

Enterprise value$25.16B+65.1%

P/E46.7×+15.1×

P/S7.9×+2.7×

Profitability

See full

Gross margin36.3%+1.7pp

Operating margin20.3%+1.2pp

Net margin16.8%+0.7pp

FCF margin14.2%+3.6pp

Returns & leverage

See full

Return on equity19.1%+1.7pp

Debt / equity0.1×0.0×

Current ratio2.7×-0.1×

Where this comes from

Reported directly by West Pharmaceutical Services in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: West Pharmaceutical Services’s 10-Q, filed April 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is West Pharmaceutical Services's R&D?: West Pharmaceutical Services (WST) reported R&D of $15.8M in Q1 2026.
How has West Pharmaceutical Services's R&D changed year-over-year?: West Pharmaceutical Services's R&D decreased by 3.1% year-over-year, from $16.3M to $15.8M.
What is the long-term trend for West Pharmaceutical Services's R&D?: Over 4 years (2021 to 2025), West Pharmaceutical Services's R&D has grown at a 8.9% compound annual growth rate (CAGR), from $52.8M to $74.3M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.