West Pharmaceutical Services (WST) Financials

$210.85 +5.26 (+2.56%)

Closing price 05/27/2025 03:59 PM Eastern

Extended Trading

$210.91 +0.06 (+0.03%)

As of 04:02 AM Eastern

Annual Income Statements for West Pharmaceutical Services

This table shows West Pharmaceutical Services' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	493	593	586	662	346	242	207	151	144	96
Consolidated Net Income / (Loss)	493	593	586	662	346	242	207	151	144	96
Net Income / (Loss) Continuing Operations	493	593	586	662	346	242	207	151	144	96
Total Pre-Tax Income	586	698	680	749	401	292	241	222	190	116
Total Operating Income	570	676	734	752	407	297	240	226	195	129
Total Gross Profit	999	1,129	1,136	1,176	768	606	545	513	501	456
Total Revenue	2,893	2,950	2,887	2,832	2,147	1,840	1,717	1,599	1,509	1,400
Operating Revenue	2,893	2,950	2,887	2,832	2,147	1,840	1,717	1,599	1,509	1,400
Total Cost of Revenue	1,895	1,821	1,751	1,656	1,379	1,234	1,172	1,086	1,008	944
Operating Cost of Revenue	1,895	1,821	1,751	1,656	1,379	1,234	1,172	1,086	1,008	944
Total Operating Expenses	429	453	402	424	361	309	305	287	306	327
Selling, General & Admin Expense	339	353	317	363	302	273	263	246	240	233
Research & Development Expense	69	68	59	53	47	39	40	39	37	34
Other Operating Expenses / (Income)	21	31	27	7.90	12	-2.50	1.90	2.00	30	60
Total Other Income / (Expense), net	16	22	-54	-3.40	-5.60	-4.80	0.40	-3.40	-5.40	-13
Interest Expense	3.00	9.00	7.90	8.20	8.20	8.50	8.40	7.80	8.10	14
Interest & Investment Income	20	28	5.10	1.00	1.40	3.80	2.10	1.30	1.10	1.60
Other Income / (Expense), net	-1.00	3.00	-51	3.80	1.20	-0.10	6.70	3.10	1.60	-
Income Tax Expense	108	122	115	107	73	59	41	81	54	26
Other Gains / (Losses), net	15	18	21	20	17	8.90	7.60	9.20	8.20	5.80
Basic Earnings per Share	$6.75	$7.98	$7.87	$8.89	$4.68	$3.27	$2.80	$2.04	$1.96	$1.33
Weighted Average Basic Shares Outstanding	73M	74.30M	74.40M	74.40M	73.90M	74M	73.90M	73.90M	73.30M	72M
Diluted Earnings per Share	$6.69	$7.88	$7.73	$8.67	$4.57	$3.21	$2.74	$1.99	$1.91	$1.30
Weighted Average Diluted Shares Outstanding	73.70M	75.30M	75.80M	76.30M	75.80M	75.40M	75.40M	75.80M	75M	73.80M
Weighted Average Basic & Diluted Shares Outstanding	72.30M	73.30M	74.14M	74.28M	74.10M	147.67M	73.90M	73.90M	73.30M	71.90M
Cash Dividends to Common per Share	$0.82	$0.78	$0.74	$0.70	$0.66	$0.62	$0.58	$0.54	$0.50	$0.46

This table shows West Pharmaceutical Services' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	90	130	136	111	115	137	161	155	140	103	121
Consolidated Net Income / (Loss)	90	130	136	111	115	137	161	155	140	103	121
Net Income / (Loss) Continuing Operations	90	130	136	111	115	137	161	155	140	103	121
Total Pre-Tax Income	111	165	165	129	127	168	187	185	158	129	136
Total Operating Income	107	160	161	126	123	161	177	183	155	130	186
Total Gross Profit	232	274	265	230	230	278	288	291	271	262	268
Total Revenue	698	749	747	702	695	732	747	754	717	709	687
Operating Revenue	698	749	747	702	695	732	747	754	717	709	687
Total Cost of Revenue	466	475	482	472	465	454	459	462	445	447	419
Operating Cost of Revenue	466	475	482	472	465	454	459	462	445	447	419
Total Operating Expenses	125	114	103	104	107	117	111	109	116	132	82
Selling, General & Admin Expense	88	85	84	83	87	90	89	88	86	86	66
Research & Development Expense	16	19	16	18	18	18	16	17	17	16	14
Other Operating Expenses / (Income)	21	10	4.40	3.30	3.10	8.90	5.60	4.00	13	31	1.90
Total Other Income / (Expense), net	3.50	5.30	3.20	2.50	4.60	7.30	9.70	2.40	2.60	-1.00	-50
Interest Expense	0.40	-0.80	0.70	1.50	1.60	1.20	2.90	2.70	2.20	1.70	2.20
Interest & Investment Income	4.10	4.80	4.60	4.00	6.20	9.40	8.80	5.00	4.80	2.90	1.50
Other Income / (Expense), net	-0.20	-	-0.70	0.00	-	-	3.80	0.10	-	-	-49
Income Tax Expense	24	37	32	22	16	35	29	35	24	29	20
Other Gains / (Losses), net	3.40	2.00	3.90	4.50	4.30	3.30	3.70	5.00	5.70	3.20	4.80
Basic Earnings per Share	$1.24	$1.79	$1.87	$1.52	$1.57	$1.85	$2.17	$2.08	$1.88	$1.38	$1.62
Weighted Average Basic Shares Outstanding	72.50M	73M	72.80M	73M	73.50M	74.30M	74.30M	74.30M	74.50M	74.40M	74.40M
Diluted Earnings per Share	$1.23	$1.78	$1.85	$1.51	$1.55	$1.83	$2.14	$2.06	$1.85	$1.37	$1.59
Weighted Average Diluted Shares Outstanding	73M	73.70M	73.40M	73.70M	74.30M	75.30M	75.30M	75.40M	75.70M	75.80M	75.70M
Weighted Average Basic & Diluted Shares Outstanding	71.85M	72.30M	72.42M	72.54M	72.84M	73.30M	73.99M	73.86M	74.24M	74.14M	74.03M
Cash Dividends to Common per Share	$0.21	-	-	$0.20	$0.20	-	-	$0.19	$0.19	-	-

This table details how cash moves in and out of West Pharmaceutical Services' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-369	-40	132	147	176	102	102	33	-72	19
Net Cash From Operating Activities	653	777	724	584	473	367	289	263	219	212
Net Cash From Continuing Operating Activities	653	779	724	584	473	367	289	263	219	212
Net Income / (Loss) Continuing Operations	493	593	586	662	346	242	207	151	144	96
Consolidated Net Income / (Loss)	493	593	586	662	346	242	207	151	144	96
Depreciation Expense	152	134	117	117	105	100	102	94	88	86
Amortization Expense	3.60	3.60	3.70	5.40	4.40	3.40	2.70	2.40	2.60	3.80
Non-Cash Adjustments To Reconcile Net Income	5.90	69	63	41	33	21	5.30	16	22	47
Changes in Operating Assets and Liabilities, net	-0.60	-20	-46	-241	-16	0.90	-28	0.30	-37	-20
Net Cash From Investing Activities	-379	-369	-288	-253	-180	-228	-101	-134	-176	-130
Net Cash From Continuing Investing Activities	-379	-369	-288	-253	-180	-228	-101	-134	-176	-130
Purchase of Property, Plant & Equipment	-377	-362	-285	-253	-174	-126	-105	-131	-170	-132
Other Investing Activities, net	-1.70	-6.70	-3.60	2.50	-5.10	2.40	3.90	3.20	2.80	3.60
Net Cash From Financing Activities	-623	-460	-294	-168	-137	-37	-81	-109	-114	-42
Net Cash From Continuing Financing Activities	-623	-460	-294	-168	-137	-37	-81	-109	-114	-42
Repayment of Debt	-192	-2.30	-46	-2.20	-2.30	-138	-0.10	-36	-70	-100
Repurchase of Common Equity	-561	-438	-203	-137	-116	-83	-71	-74	-52	0.00
Payment of Dividends	-59	-57	-54	-51	-48	-45	-42	-39	-36	-32
Issuance of Debt	165	0.00	0.00	-	-	199	0.00	0.00	-	71
Issuance of Common Equity	7.20	7.10	7.30	7.70	35	33	32	40	30	16
Other Financing Activities, net	18	31	1.50	15	-5.90	-2.20	-	-	15	3.50
Effect of Exchange Rate Changes	-21	11	-11	-16	21	-0.70	-5.60	12	-1.30	-22
Cash Interest Paid	0.50	6.00	6.60	8.00	8.10	8.60	8.40	8.00	8.60	15
Cash Income Taxes Paid	71	91	110	172	48	48	42	31	48	33

This table details how cash moves in and out of West Pharmaceutical Services' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-80	-6.30	45	-156	-252	-45	102	-90	-8.00	165	11
Net Cash From Operating Activities	129	190	180	165	118	239	230	169	138	231	169
Net Cash From Continuing Operating Activities	129	190	180	165	118	242	230	169	138	231	169
Net Income / (Loss) Continuing Operations	90	130	136	111	115	137	161	155	140	103	121
Consolidated Net Income / (Loss)	90	130	136	111	115	137	161	155	140	103	121
Depreciation Expense	39	40	39	38	35	35	35	34	31	30	29
Amortization Expense	0.90	0.90	0.90	0.90	0.90	1.30	0.90	0.50	0.90	1.00	0.90
Non-Cash Adjustments To Reconcile Net Income	-0.50	-0.70	4.00	0.70	1.90	42	8.30	5.30	13	12	51
Changes in Operating Assets and Liabilities, net	0.10	20	-0.10	14	-35	27	25	-25	-47	85	-32
Net Cash From Investing Activities	-71	-105	-82	-101	-91	-109	-96	-82	-82	-95	-59
Net Cash From Continuing Investing Activities	-71	-105	-82	-101	-91	-109	-96	-82	-82	-95	-59
Purchase of Property, Plant & Equipment	-71	-105	-81	-100	-91	-109	-96	-75	-82	-95	-58
Net Cash From Financing Activities	-147	-69	-64	-218	-271	-190	-22	-177	-71	-9.50	-75
Net Cash From Continuing Financing Activities	-147	-69	-64	-218	-271	-190	-22	-177	-71	-9.50	-75
Repayment of Debt	-0.20	-23	-110	-58	-0.70	-0.60	-0.60	-0.50	-0.60	-0.50	-43
Repurchase of Common Equity	-134	-54	-52	-187	-267	-177	-28	-173	-60	0.10	-27
Payment of Dividends	-15	-15	-15	-15	-15	-15	-14	-14	-14	-14	-14
Issuance of Common Equity	1.90	1.60	1.90	1.70	2.00	1.80	1.80	1.70	1.80	1.20	2.00
Other Financing Activities, net	0.00	23	-19	5.00	9.40	1.10	18	9.50	2.00	3.80	6.10
Effect of Exchange Rate Changes	8.50	-23	11	-1.10	-8.70	15	-9.80	-0.30	7.00	39	-24

This table presents West Pharmaceutical Services' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	3,643	3,830	3,617	3,314	2,794	2,341	1,979	1,863	1,717	1,695
Total Current Assets	1,538	1,936	1,920	1,742	1,374	1,059	894	744	642	674
Cash & Equivalents	485	854	894	763	616	439	337	236	203	275
Accounts Receivable	553	512	507	489	385	319	288	253	201	181
Inventories, net	377	435	415	378	321	236	215	215	199	181
Other Current Assets	124	136	103	112	52	65	54	39	39	37
Plant, Property, & Equipment, net	1,582	1,413	1,158	1,058	943	839	822	855	778	721
Plant, Property & Equipment, gross	2,986	2,738	2,387	2,215	2,036	1,820	1,753	1,746	1,555	1,440
Accumulated Depreciation	1,404	1,325	1,228	1,158	1,092	981	931	891	776	719
Total Noncurrent Assets	524	480	539	514	477	443	263	264	297	300
Long-Term Investments	202	210	205	208	215	193	91	86	83	61
Goodwill	106	109	107	110	111	108	106	108	103	105
Intangible Assets	11	15	18	23	31	30	20	22	23	38
Noncurrent Deferred & Refundable Income Taxes	26	26	66	49	16	14	25	26	66	71
Other Noncurrent Operating Assets	179	121	143	109	92	95	21	23	21	26
Total Liabilities & Shareholders' Equity	3,643	3,830	3,617	3,314	2,794	2,341	1,979	1,863	1,717	1,695
Total Liabilities	961	949	932	978	939	768	583	583	599	671
Total Current Liabilities	550	672	519	594	503	342	284	280	241	314
Short-Term Debt	0.00	134	2.20	44	2.30	2.30	0.10	0.00	2.40	69
Accounts Payable	239	242	215	232	213	157	130	138	122	120
Current Deferred & Payable Income Tax Liabilities	32	17	25	26	26	6.40	9.80	6.00	4.50	13
Current Employee Benefit Liabilities	74	-	77	2.40	2.30	2.20	2.30	58	54	59
Other Current Liabilities	206	173	200	173	154	101	77	77	58	54
Total Noncurrent Liabilities	411	277	413	384	436	427	299	303	358	357
Long-Term Debt	203	73	207	209	253	255	196	197	226	229
Noncurrent Deferred & Payable Income Tax Liabilities	21	13	14	4.90	10	16	13	10	9.20	12
Noncurrent Employee Benefit Liabilities	44	48	47	69	80	70	56	53	76	62
Other Noncurrent Operating Liabilities	144	143	145	101	92	86	34	43	47	54
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,682	2,881	2,685	2,335	1,855	1,573	1,396	1,280	1,118	1,024
Total Preferred & Common Equity	2,682	2,881	2,685	2,335	1,855	1,573	1,396	1,280	1,118	1,024
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,682	2,881	2,685	2,335	1,855	1,573	1,396	1,280	1,118	1,024
Common Stock	41	139	251	268	286	292	301	328	279	226
Retained Earnings	3,957	3,523	2,988	2,457	1,847	1,549	1,353	1,178	1,072	965
Treasury Stock	-1,057	-638	-371	-230	-168	-118	-104	-109	-46	-4.00
Accumulated Other Comprehensive Income / (Loss)	-258	-144	-183	-160	-111	-150	-154	-117	-187	-163

This table presents West Pharmaceutical Services' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	3,618	3,643	3,675	3,489	3,602	3,830	3,755	3,670	3,724	3,617	3,317
Total Current Assets	1,458	1,538	1,551	1,483	1,693	1,936	1,972	1,874	1,937	1,920	1,734
Cash & Equivalents	404	485	491	446	602	854	899	796	886	894	729
Accounts Receivable	544	553	524	479	524	512	519	534	513	507	485
Inventories, net	389	377	401	419	430	435	432	449	447	415	413
Other Current Assets	121	124	134	138	137	136	123	94	91	103	106
Plant, Property, & Equipment, net	1,632	1,582	1,571	1,494	1,449	1,413	1,312	1,261	1,215	1,158	1,069
Plant, Property & Equipment, gross	3,005	2,986	2,991	2,864	2,791	2,738	2,607	2,543	2,479	2,387	2,233
Accumulated Depreciation	1,374	1,404	1,420	1,370	1,343	1,325	1,296	1,282	1,264	1,228	1,164
Total Noncurrent Assets	529	524	554	513	461	480	471	534	571	539	514
Long-Term Investments	212	202	218	198	203	210	195	203	209	205	189
Goodwill	108	106	109	107	108	109	107	108	108	107	104
Intangible Assets	10	11	12	13	14	15	16	17	18	18	18
Noncurrent Deferred & Refundable Income Taxes	26	26	38	34	21	26	17	67	99	66	63
Other Noncurrent Operating Assets	174	179	177	160	116	121	136	140	138	143	139
Total Liabilities & Shareholders' Equity	3,618	3,643	3,675	3,489	3,602	3,830	3,755	3,670	3,724	3,617	3,317
Total Liabilities	935	961	923	913	922	949	887	923	947	932	846
Total Current Liabilities	527	550	517	634	648	672	534	512	535	519	457
Accounts Payable	228	239	224	212	240	242	220	218	234	215	189
Accrued Expenses	68	-	-	83	67	106	-	85	-	-	-
Current Deferred & Payable Income Tax Liabilities	22	32	33	17	17	17	15	27	59	25	30
Other Current Liabilities	208	206	179	189	192	173	153	179	174	200	167
Total Noncurrent Liabilities	408	411	407	279	273	277	353	411	413	413	389
Long-Term Debt	203	203	203	73	73	73	152	206	206	207	207
Noncurrent Deferred & Payable Income Tax Liabilities	21	21	9.40	14	13	13	17	15	15	14	17
Noncurrent Employee Benefit Liabilities	40	44	45	45	48	48	46	48	46	47	54
Other Noncurrent Operating Liabilities	145	144	149	148	140	143	138	142	146	145	111
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,683	2,682	2,752	2,577	2,681	2,881	2,868	2,747	2,776	2,685	2,471
Total Preferred & Common Equity	2,683	2,682	2,752	2,577	2,681	2,881	2,868	2,747	2,776	2,685	2,471
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,683	2,682	2,752	2,577	2,681	2,881	2,868	2,747	2,776	2,685	2,471
Common Stock	21	41	42	52	74	139	141	177	200	251	249
Retained Earnings	4,031	3,957	3,857	3,721	3,624	3,523	3,416	3,255	3,114	2,988	2,913
Treasury Stock	-1,163	-1,057	-1,011	-980	-825	-638	-466	-501	-	-371	-383
Accumulated Other Comprehensive Income / (Loss)	-206	-258	-136	-217	-192	-144	-223	-184	-168	-183	-309

This table displays calculated financial ratios and metrics derived from West Pharmaceutical Services' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.92%	2.18%	1.95%	31.89%	16.69%	7.13%	7.40%	5.96%	7.81%	-1.52%
EBITDA Growth	-11.27%	1.62%	-8.55%	69.84%	29.33%	13.80%	7.92%	13.25%	31.58%	-19.67%
EBIT Growth	-16.22%	-0.54%	-9.71%	85.27%	37.64%	20.04%	7.91%	16.31%	53.03%	-29.34%
NOPAT Growth	-16.55%	-8.62%	-5.34%	93.35%	40.89%	18.93%	38.50%	3.17%	40.00%	-24.17%
Net Income Growth	-16.97%	1.28%	-11.47%	91.16%	43.24%	16.82%	37.29%	4.94%	50.21%	-24.78%
EPS Growth	-15.10%	1.94%	-10.84%	89.72%	42.37%	17.15%	37.69%	4.19%	46.92%	-25.71%
Operating Cash Flow Growth	-15.85%	7.25%	23.97%	23.60%	28.68%	27.23%	9.61%	20.01%	3.30%	16.13%
Free Cash Flow Firm Growth	-11.36%	-24.31%	41.72%	21.15%	25.21%	5.97%	289.60%	-24.89%	-27.53%	-37.52%
Invested Capital Growth	8.61%	12.78%	10.91%	26.46%	6.74%	3.00%	0.74%	8.94%	7.52%	0.99%
Revenue Q/Q Growth	0.58%	0.80%	-0.76%	5.62%	5.38%	2.68%	0.40%	2.13%	1.52%	0.71%
EBITDA Q/Q Growth	0.35%	5.02%	-11.94%	9.08%	8.61%	2.78%	2.27%	4.13%	3.08%	0.88%
EBIT Q/Q Growth	-0.40%	5.30%	-13.40%	9.75%	10.51%	3.78%	2.66%	4.95%	4.85%	0.47%
NOPAT Q/Q Growth	-0.83%	5.09%	-7.45%	9.13%	11.39%	4.68%	35.97%	-21.33%	2.50%	1.30%
Net Income Q/Q Growth	-1.38%	6.08%	-7.09%	8.05%	11.07%	5.18%	33.57%	-20.64%	4.21%	2.14%
EPS Q/Q Growth	-0.74%	6.20%	-6.42%	7.70%	10.39%	5.59%	33.01%	-20.40%	3.24%	0.00%
Operating Cash Flow Q/Q Growth	-6.98%	1.08%	10.70%	2.12%	9.83%	9.94%	-2.80%	3.82%	1.76%	11.55%
Free Cash Flow Firm Q/Q Growth	42.39%	5.34%	-3.49%	7.91%	3.95%	2.42%	6.39%	-35.71%	106.83%	-25.56%
Invested Capital Q/Q Growth	-2.14%	2.14%	1.82%	4.21%	2.72%	0.79%	0.31%	-3.15%	-2.38%	0.45%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.51%	38.28%	39.36%	41.52%	35.76%	32.92%	31.76%	32.07%	33.23%	32.56%
EBITDA Margin	25.03%	27.67%	27.83%	31.02%	24.09%	21.73%	20.46%	20.36%	19.05%	15.61%
Operating Margin	19.70%	22.92%	25.43%	26.57%	18.95%	16.12%	13.99%	14.12%	12.93%	9.19%
EBIT Margin	19.66%	23.02%	23.65%	26.70%	19.01%	16.12%	14.38%	14.31%	13.04%	9.19%
Profit (Net Income) Margin	17.03%	20.12%	20.30%	23.37%	16.13%	13.14%	12.05%	9.42%	9.52%	6.83%
Tax Burden Percent	84.15%	85.01%	86.17%	88.37%	86.27%	82.83%	85.96%	67.76%	75.66%	82.34%
Interest Burden Percent	102.92%	102.80%	99.59%	99.05%	98.33%	98.41%	97.45%	97.16%	96.44%	90.28%
Effective Tax Rate	18.36%	17.52%	16.87%	14.31%	18.07%	20.22%	17.20%	36.38%	28.66%	22.65%
Return on Invested Capital (ROIC)	22.04%	29.20%	35.76%	44.49%	26.91%	20.03%	17.16%	12.97%	13.61%	10.14%
ROIC Less NNEP Spread (ROIC-NNEP)	17.95%	25.10%	38.78%	41.83%	24.21%	18.36%	12.72%	5.23%	4.44%	52.88%
Return on Net Nonoperating Assets (RNNOA)	-4.33%	-7.88%	-12.42%	-12.90%	-6.71%	-3.75%	-1.70%	-0.40%	-0.20%	-0.48%
Return on Equity (ROE)	17.71%	21.32%	23.34%	31.59%	20.20%	16.28%	15.46%	12.57%	13.41%	9.65%
Cash Return on Invested Capital (CROIC)	13.78%	17.19%	25.42%	21.12%	20.38%	17.08%	16.42%	4.41%	6.36%	9.15%
Operating Return on Assets (OROA)	15.23%	18.24%	19.70%	24.76%	15.89%	13.73%	12.86%	12.79%	11.54%	7.64%
Return on Assets (ROA)	13.19%	15.94%	16.91%	21.67%	13.48%	11.19%	10.77%	8.42%	8.42%	5.68%
Return on Common Equity (ROCE)	17.71%	21.32%	23.34%	31.59%	20.20%	16.28%	15.46%	12.57%	13.41%	9.65%
Return on Equity Simple (ROE_SIMPLE)	18.37%	20.60%	21.82%	28.34%	18.67%	15.36%	14.82%	11.77%	12.85%	9.34%
Net Operating Profit after Tax (NOPAT)	465	558	610	645	333	237	199	144	139	99
NOPAT Margin	16.08%	18.90%	21.14%	22.77%	15.53%	12.86%	11.59%	8.98%	9.23%	7.11%
Net Nonoperating Expense Percent (NNEP)	4.09%	4.10%	-3.02%	2.66%	2.70%	1.67%	4.44%	7.74%	9.17%	-42.74%
Return On Investment Capital (ROIC_SIMPLE)	16.13%	18.06%	21.09%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	65.49%	61.72%	60.64%	58.48%	64.24%	67.08%	68.24%	67.93%	66.77%	67.44%
SG&A Expenses to Revenue	11.70%	11.98%	10.98%	12.81%	14.07%	14.82%	15.31%	15.38%	15.88%	16.65%
R&D to Revenue	2.39%	2.32%	2.03%	1.86%	2.18%	2.11%	2.35%	2.45%	2.44%	2.44%
Operating Expenses to Revenue	14.81%	15.36%	13.93%	14.96%	16.81%	16.80%	17.77%	17.95%	20.29%	23.37%
Earnings before Interest and Taxes (EBIT)	569	679	683	756	408	297	247	229	197	129
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	724	816	803	878	517	400	351	326	288	219
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.84	9.02	6.46	14.79	11.21	6.99	5.12	5.60	5.40	4.09
Price to Tangible Book Value (P/TBV)	9.24	9.42	6.78	15.68	12.13	7.66	5.63	6.23	6.09	4.75
Price to Revenue (P/Rev)	8.19	8.81	6.01	12.20	9.68	5.98	4.16	4.48	4.00	2.99
Price to Earnings (P/E)	48.12	43.77	29.60	52.19	60.02	45.52	34.54	47.57	42.05	43.85
Dividend Yield	0.25%	0.22%	0.31%	0.15%	0.23%	0.41%	0.59%	0.55%	0.59%	0.77%
Earnings Yield	2.08%	2.28%	3.38%	1.92%	1.67%	2.20%	2.90%	2.10%	2.38%	2.28%
Enterprise Value to Invested Capital (EV/IC)	10.56	12.41	9.17	20.90	15.79	8.87	5.94	6.10	5.64	4.21
Enterprise Value to Revenue (EV/Rev)	8.03	8.52	5.70	11.94	9.41	5.78	4.03	4.40	3.96	2.97
Enterprise Value to EBITDA (EV/EBITDA)	32.06	30.77	20.48	38.50	39.07	26.57	19.67	21.63	20.80	19.01
Enterprise Value to EBIT (EV/EBIT)	40.82	36.99	24.10	44.73	49.51	35.84	27.99	30.77	30.39	32.30
Enterprise Value to NOPAT (EV/NOPAT)	49.91	45.05	26.96	52.47	60.60	44.91	34.75	49.03	42.95	41.76
Enterprise Value to Operating Cash Flow (EV/OCF)	35.54	32.35	22.72	57.92	42.76	28.94	23.96	26.75	27.26	19.56
Enterprise Value to Free Cash Flow (EV/FCFF)	79.82	76.52	37.93	110.53	79.99	52.68	36.32	144.15	91.94	46.28
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.08	0.07	0.08	0.11	0.14	0.16	0.14	0.15	0.20	0.29
Long-Term Debt to Equity	0.08	0.03	0.08	0.09	0.14	0.16	0.14	0.15	0.20	0.22
Financial Leverage	-0.24	-0.31	-0.32	-0.31	-0.28	-0.20	-0.13	-0.08	-0.04	-0.01
Leverage Ratio	1.34	1.34	1.38	1.46	1.50	1.45	1.44	1.49	1.59	1.70
Compound Leverage Factor	1.38	1.38	1.37	1.44	1.47	1.43	1.40	1.45	1.54	1.53
Debt to Total Capital	7.02%	6.70%	7.22%	9.77%	12.10%	14.06%	12.31%	13.34%	16.98%	22.56%
Short-Term Debt to Total Capital	0.00%	4.34%	0.08%	1.71%	0.11%	0.13%	0.01%	0.00%	0.18%	5.24%
Long-Term Debt to Total Capital	7.02%	2.36%	7.14%	8.07%	11.99%	13.93%	12.31%	13.34%	16.80%	17.31%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	92.98%	93.30%	92.78%	90.23%	87.90%	85.94%	87.69%	86.66%	83.02%	77.45%
Debt to EBITDA	0.28	0.25	0.26	0.29	0.49	0.64	0.56	0.61	0.80	1.36
Net Debt to EBITDA	-0.67	-1.05	-1.11	-0.82	-1.11	-0.94	-0.66	-0.38	-0.20	-0.17
Long-Term Debt to EBITDA	0.28	0.09	0.26	0.24	0.49	0.64	0.56	0.61	0.79	1.05
Debt to NOPAT	0.44	0.37	0.34	0.39	0.77	1.09	0.99	1.37	1.64	3.00
Net Debt to NOPAT	-1.04	-1.54	-1.46	-1.11	-1.72	-1.58	-1.17	-0.87	-0.41	-0.38
Long-Term Debt to NOPAT	0.44	0.13	0.34	0.32	0.76	1.08	0.99	1.37	1.62	2.30
Altman Z-Score	17.96	19.47	14.21	24.24	15.82	11.09	9.97	9.83	8.46	5.87
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.79	2.88	3.70	2.93	2.73	3.10	3.15	2.66	2.66	2.14
Quick Ratio	1.88	2.03	2.70	2.11	1.99	2.22	2.21	1.75	1.67	1.45
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	291	328	434	306	253	202	190	49	65	90
Operating Cash Flow to CapEx	173.32%	214.50%	254.39%	230.47%	270.93%	290.51%	275.64%	201.30%	128.91%	161.40%
Free Cash Flow to Firm to Interest Expense	96.99	36.47	54.90	37.32	30.80	23.73	22.66	6.26	8.03	6.37
Operating Cash Flow to Interest Expense	217.80	86.28	91.65	71.22	57.62	43.20	34.36	33.76	27.09	15.06
Operating Cash Flow Less CapEx to Interest Expense	92.13	46.06	55.62	40.32	36.35	28.33	21.89	16.99	6.07	5.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.77	0.79	0.83	0.93	0.84	0.85	0.89	0.89	0.88	0.83
Accounts Receivable Turnover	5.44	5.79	5.79	6.48	6.09	6.06	6.34	7.05	7.90	7.77
Inventory Turnover	4.67	4.29	4.41	4.73	4.95	5.48	5.46	5.24	5.30	5.21
Fixed Asset Turnover	1.93	2.29	2.61	2.83	2.41	2.22	2.05	1.96	2.01	1.96
Accounts Payable Turnover	7.87	7.95	7.82	7.44	7.46	8.59	8.73	8.35	8.34	8.47
Days Sales Outstanding (DSO)	67.15	63.07	62.99	56.35	59.90	60.26	57.53	51.78	46.18	46.99
Days Inventory Outstanding (DIO)	78.18	85.16	82.69	77.12	73.71	66.57	66.91	69.64	68.89	70.10
Days Payable Outstanding (DPO)	46.40	45.89	46.66	49.08	48.95	42.47	41.81	43.70	43.79	43.09
Cash Conversion Cycle (CCC)	98.93	102.33	99.02	84.39	84.65	84.36	82.63	77.72	71.29	74.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,198	2,024	1,795	1,618	1,280	1,199	1,164	1,155	1,060	986
Invested Capital Turnover	1.37	1.55	1.69	1.95	1.73	1.56	1.48	1.44	1.47	1.43
Increase / (Decrease) in Invested Capital	174	229	177	339	81	35	8.60	95	74	9.70
Enterprise Value (EV)	23,223	25,118	16,451	33,823	20,205	10,627	6,914	7,044	5,981	4,154
Market Capitalization	23,708	25,975	17,341	34,540	20,780	11,001	7,146	7,168	6,038	4,192
Book Value per Share	$37.04	$38.94	$36.27	$31.53	$25.09	$21.26	$18.85	$17.24	$15.27	$14.20
Tangible Book Value per Share	$35.42	$37.27	$34.57	$29.73	$23.17	$19.40	$17.15	$15.49	$13.54	$12.23
Total Capital	2,885	3,088	2,894	2,588	2,110	1,831	1,592	1,477	1,346	1,322
Total Debt	203	207	209	253	255	257	196	197	229	298
Total Long-Term Debt	203	73	207	209	253	255	196	197	226	229
Net Debt	-484	-857	-890	-717	-575	-375	-233	-125	-57	-38
Capital Expenditures (CapEx)	377	362	285	253	174	126	105	131	170	132
Debt-free, Cash-free Net Working Capital (DFCFNWC)	503	545	508	430	257	280	273	228	200	154
Debt-free Net Working Capital (DFNWC)	988	1,399	1,403	1,192	873	719	611	464	403	429
Net Working Capital (NWC)	988	1,265	1,401	1,148	870	717	611	464	401	359
Net Nonoperating Expense (NNE)	-27	-36	24	-17	-13	-5.07	-7.93	-7.04	-4.35	3.87
Net Nonoperating Obligations (NNO)	-484	-857	-890	-717	-575	-375	-233	-125	-57	-38
Total Depreciation and Amortization (D&A)	155	137	121	122	109	103	104	97	91	90
Debt-free, Cash-free Net Working Capital to Revenue	17.39%	18.47%	17.61%	15.17%	11.98%	15.23%	15.92%	14.26%	13.27%	11.01%
Debt-free Net Working Capital to Revenue	34.14%	47.41%	48.59%	42.10%	40.64%	39.10%	35.57%	29.02%	26.72%	30.63%
Net Working Capital to Revenue	34.14%	42.87%	48.51%	40.54%	40.54%	38.97%	35.56%	29.02%	26.57%	25.68%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$6.75	$7.98	$7.87	$8.89	$4.68	$3.27	$2.80	$2.04	$1.96	$1.33
Adjusted Weighted Average Basic Shares Outstanding	73M	74.30M	74.40M	74.40M	73.90M	74M	73.90M	73.90M	73.30M	72M
Adjusted Diluted Earnings per Share	$6.69	$7.88	$7.73	$8.67	$4.57	$3.21	$2.74	$1.99	$1.91	$1.30
Adjusted Weighted Average Diluted Shares Outstanding	73.70M	75.30M	75.80M	76.30M	75.80M	75.40M	75.40M	75.80M	75M	73.80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	72.30M	73.30M	74.14M	74.28M	74.10M	147.67M	74.19M	73.99M	73.26M	72.33M
Normalized Net Operating Profit after Tax (NOPAT)	465	558	610	645	333	237	199	144	139	99
Normalized NOPAT Margin	16.08%	18.90%	21.14%	22.77%	15.53%	12.86%	11.59%	8.98%	9.23%	7.11%
Pre Tax Income Margin	20.24%	23.66%	23.55%	26.45%	18.69%	15.86%	14.02%	13.91%	12.58%	8.29%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	189.63	75.44	86.42	92.21	49.77	34.88	29.40	29.35	24.30	9.12
NOPAT to Interest Expense	155.09	61.95	77.24	78.61	40.66	27.84	23.69	18.42	17.19	7.05
EBIT Less CapEx to Interest Expense	63.97	35.22	50.39	61.30	28.50	20.01	16.94	12.58	3.28	-0.21
NOPAT Less CapEx to Interest Expense	29.42	21.73	41.21	47.71	19.39	12.97	11.22	1.65	-3.82	-2.28
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	12.00%	9.61%	9.23%	7.72%	13.89%	18.66%	20.35%	25.95%	24.93%	33.89%
Augmented Payout Ratio	125.84%	83.47%	43.85%	28.44%	47.26%	53.04%	54.57%	75.32%	61.28%	33.89%

This table displays calculated financial ratios and metrics derived from West Pharmaceutical Services' official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.37%	2.30%	-0.07%	-6.86%	-2.96%	3.29%	8.81%	-2.27%	-0.47%	-3.02%	-2.77%
EBITDA Growth	-7.32%	1.78%	-7.38%	-23.81%	-15.25%	22.39%	30.05%	-16.24%	-14.77%	-26.44%	-21.55%
EBIT Growth	-13.03%	-0.81%	-11.32%	-30.89%	-20.93%	24.06%	32.29%	-20.12%	-18.13%	-29.59%	-24.99%
NOPAT Growth	-21.80%	-3.06%	-13.31%	-29.31%	-19.00%	27.17%	-5.61%	-19.47%	-21.51%	-32.68%	-6.54%
Net Income Growth	-22.12%	-5.04%	-15.69%	-28.24%	-17.64%	33.01%	33.75%	-17.72%	-19.45%	-30.26%	-31.32%
EPS Growth	-20.65%	-2.73%	-13.55%	-26.70%	-16.22%	33.58%	34.59%	-16.94%	-19.21%	-27.89%	-31.17%
Operating Cash Flow Growth	9.48%	-20.49%	-21.73%	-2.48%	-14.41%	3.60%	36.23%	-2.25%	-8.66%	43.53%	-11.15%
Free Cash Flow Firm Growth	-20.12%	50.38%	-94.70%	-83.07%	-58.25%	-33.56%	-34.67%	47.88%	62.89%	59.87%	62.54%
Invested Capital Growth	8.98%	8.61%	13.36%	9.35%	10.22%	12.78%	12.42%	10.81%	10.95%	10.91%	13.52%
Revenue Q/Q Growth	-6.78%	0.25%	6.38%	0.96%	-5.00%	-2.06%	-0.85%	5.19%	1.11%	3.17%	-10.94%
EBITDA Q/Q Growth	-26.71%	-0.25%	21.62%	4.23%	-19.51%	-9.23%	0.05%	15.94%	16.23%	-3.54%	-35.56%
EBIT Q/Q Growth	-33.08%	-0.62%	27.26%	2.77%	-23.68%	-11.15%	-0.82%	17.58%	19.74%	-5.26%	-40.11%
NOPAT Q/Q Growth	-32.52%	-4.28%	23.69%	-2.12%	-16.35%	-14.41%	0.86%	12.16%	31.33%	-36.47%	-13.95%
Net Income Q/Q Growth	-30.98%	-4.34%	22.19%	-3.47%	-15.84%	-15.07%	4.00%	10.79%	35.92%	-14.59%	-36.02%
EPS Q/Q Growth	-30.90%	-3.78%	22.52%	-2.58%	-15.30%	-14.49%	3.88%	11.35%	35.04%	-13.84%	-35.89%
Operating Cash Flow Q/Q Growth	-31.93%	5.55%	9.15%	39.59%	-50.56%	3.91%	35.99%	22.52%	-40.16%	36.65%	-2.43%
Free Cash Flow Firm Q/Q Growth	-105.57%	62.80%	-73.26%	9.33%	15.08%	-45.96%	-62.90%	21.62%	28.33%	-47.17%	36.96%
Invested Capital Q/Q Growth	3.25%	-2.14%	5.06%	2.67%	2.90%	2.14%	1.33%	3.49%	5.28%	1.82%	-0.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	33.22%	36.54%	35.44%	32.76%	33.10%	38.01%	38.57%	38.66%	37.86%	36.98%	39.02%
EBITDA Margin	21.03%	26.75%	26.88%	23.52%	22.78%	26.89%	29.01%	28.75%	26.08%	22.69%	24.27%
Operating Margin	15.33%	21.31%	21.60%	17.97%	17.66%	21.98%	23.72%	24.21%	21.67%	18.30%	27.11%
EBIT Margin	15.30%	21.31%	21.50%	17.97%	17.66%	21.98%	24.23%	24.22%	21.67%	18.30%	19.93%
Profit (Net Income) Margin	12.87%	17.37%	18.21%	15.85%	16.58%	18.72%	21.58%	20.58%	19.54%	14.53%	17.56%
Tax Burden Percent	81.27%	78.90%	82.67%	86.48%	90.50%	81.45%	86.26%	83.88%	88.66%	80.03%	88.55%
Interest Burden Percent	103.46%	103.32%	102.43%	101.98%	103.75%	104.54%	103.26%	101.26%	101.67%	99.23%	99.49%
Effective Tax Rate	21.81%	22.32%	19.70%	17.02%	12.87%	20.51%	15.72%	18.82%	14.95%	22.46%	14.98%
Return on Invested Capital (ROIC)	15.95%	22.69%	23.60%	20.97%	22.69%	26.99%	31.25%	30.28%	29.59%	24.01%	40.45%
ROIC Less NNEP Spread (ROIC-NNEP)	14.74%	21.78%	22.67%	19.90%	21.57%	25.95%	29.76%	29.33%	28.54%	23.71%	46.00%
Return on Net Nonoperating Assets (RNNOA)	-2.78%	-5.25%	-5.62%	-4.60%	-5.87%	-8.15%	-8.89%	-8.23%	-8.45%	-7.59%	-13.37%
Return on Equity (ROE)	13.17%	17.44%	17.98%	16.37%	16.82%	18.85%	22.36%	22.05%	21.14%	16.42%	27.08%
Cash Return on Invested Capital (CROIC)	11.71%	13.78%	9.67%	14.96%	17.09%	17.19%	16.65%	18.66%	21.55%	25.42%	27.11%
Operating Return on Assets (OROA)	12.27%	16.50%	16.65%	14.45%	14.12%	17.42%	20.06%	19.75%	17.81%	15.25%	17.95%
Return on Assets (ROA)	10.32%	13.45%	14.10%	12.74%	13.26%	14.83%	17.86%	16.77%	16.05%	12.11%	15.81%
Return on Common Equity (ROCE)	13.17%	17.44%	17.98%	16.37%	16.82%	18.85%	22.36%	22.05%	21.14%	16.42%	27.08%
Return on Equity Simple (ROE_SIMPLE)	17.41%	0.00%	18.15%	20.37%	21.22%	0.00%	19.50%	18.88%	19.89%	0.00%	25.52%
Net Operating Profit after Tax (NOPAT)	84	124	130	105	107	128	149	148	132	101	158
NOPAT Margin	11.99%	16.56%	17.34%	14.92%	15.39%	17.47%	19.99%	19.65%	18.43%	14.19%	23.05%
Net Nonoperating Expense Percent (NNEP)	1.21%	0.91%	0.93%	1.07%	1.12%	1.04%	1.49%	0.96%	1.05%	0.30%	-5.55%
Return On Investment Capital (ROIC_SIMPLE)	2.90%	4.30%	-	-	-	4.14%	-	-	-	3.48%	-
Cost of Revenue to Revenue	66.78%	63.46%	64.56%	67.24%	66.90%	61.99%	61.43%	61.34%	62.14%	63.02%	60.98%
SG&A Expenses to Revenue	12.61%	11.39%	11.18%	11.82%	12.47%	12.30%	11.91%	11.73%	12.00%	12.09%	9.65%
R&D to Revenue	2.34%	2.47%	2.08%	2.49%	2.53%	2.51%	2.19%	2.19%	2.39%	2.24%	1.98%
Operating Expenses to Revenue	17.89%	15.22%	13.84%	14.78%	15.44%	16.02%	14.85%	14.45%	16.19%	18.68%	11.91%
Earnings before Interest and Taxes (EBIT)	107	160	161	126	123	161	181	183	155	130	137
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	147	200	201	165	158	197	217	217	187	161	167
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.03	8.84	7.91	9.31	10.91	9.02	9.65	10.31	9.23	6.46	7.34
Price to Tangible Book Value (P/TBV)	6.31	9.24	8.28	9.76	11.43	9.42	10.08	10.81	9.66	6.78	7.72
Price to Revenue (P/Rev)	5.59	8.19	7.57	8.33	9.99	8.81	9.45	9.89	8.88	6.01	6.24
Price to Earnings (P/E)	34.65	48.12	43.58	45.68	51.42	43.77	49.46	54.62	46.40	29.60	28.77
Dividend Yield	0.37%	0.25%	0.20%	0.18%	0.15%	0.22%	0.20%	0.20%	0.21%	0.31%	0.29%
Earnings Yield	2.89%	2.08%	2.29%	2.19%	1.94%	2.28%	2.02%	1.83%	2.16%	3.38%	3.48%
Enterprise Value to Invested Capital (EV/IC)	6.95	10.56	9.47	11.01	13.76	12.41	13.51	14.08	13.09	9.17	9.89
Enterprise Value to Revenue (EV/Rev)	5.45	8.03	7.39	8.18	9.78	8.52	9.15	9.61	8.58	5.70	5.99
Enterprise Value to EBITDA (EV/EBITDA)	22.13	32.06	29.47	32.10	36.50	30.77	34.45	35.29	30.08	20.48	19.11
Enterprise Value to EBIT (EV/EBIT)	28.53	40.82	37.23	40.09	44.51	36.99	41.53	42.13	35.35	24.10	22.12
Enterprise Value to NOPAT (EV/NOPAT)	35.70	49.91	45.33	48.13	53.79	45.05	50.48	51.21	43.11	26.96	26.45
Enterprise Value to Operating Cash Flow (EV/OCF)	23.73	35.54	30.28	31.29	37.86	32.35	34.86	38.95	34.78	22.72	26.66
Enterprise Value to Free Cash Flow (EV/FCFF)	61.92	79.82	104.08	76.87	84.39	76.52	85.93	79.36	63.89	37.93	38.80
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.08	0.08	0.07	0.08	0.08	0.07	0.07	0.08	0.08	0.08	0.08
Long-Term Debt to Equity	0.08	0.08	0.07	0.03	0.03	0.03	0.05	0.07	0.07	0.08	0.08
Financial Leverage	-0.19	-0.24	-0.25	-0.23	-0.27	-0.31	-0.30	-0.28	-0.30	-0.32	-0.29
Leverage Ratio	1.35	1.34	1.32	1.34	1.34	1.34	1.32	1.36	1.38	1.38	1.38
Compound Leverage Factor	1.39	1.39	1.35	1.37	1.39	1.40	1.37	1.38	1.40	1.37	1.38
Debt to Total Capital	7.02%	7.02%	6.86%	7.40%	7.14%	6.70%	6.74%	7.03%	6.98%	7.22%	7.81%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	4.78%	4.62%	4.34%	1.79%	0.07%	0.07%	0.08%	0.08%
Long-Term Debt to Total Capital	7.02%	7.02%	6.86%	2.62%	2.52%	2.36%	4.95%	6.96%	6.91%	7.14%	7.73%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	92.98%	92.98%	93.14%	92.60%	92.86%	93.30%	93.26%	92.97%	93.02%	92.78%	92.19%
Debt to EBITDA	0.28	0.28	0.28	0.28	0.26	0.25	0.27	0.27	0.25	0.26	0.23
Net Debt to EBITDA	-0.58	-0.67	-0.70	-0.60	-0.76	-1.05	-1.14	-1.01	-1.08	-1.11	-0.78
Long-Term Debt to EBITDA	0.28	0.28	0.28	0.10	0.09	0.09	0.20	0.26	0.25	0.26	0.23
Debt to NOPAT	0.46	0.44	0.43	0.42	0.39	0.37	0.39	0.39	0.36	0.34	0.32
Net Debt to NOPAT	-0.94	-1.04	-1.08	-0.90	-1.12	-1.54	-1.67	-1.47	-1.55	-1.46	-1.07
Long-Term Debt to NOPAT	0.46	0.44	0.43	0.15	0.14	0.13	0.29	0.38	0.36	0.34	0.31
Altman Z-Score	13.15	17.58	16.89	18.49	21.72	19.02	21.40	21.05	18.76	13.70	15.57
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.77	2.79	3.00	2.34	2.61	2.88	3.70	3.66	3.62	3.70	3.80
Quick Ratio	1.80	1.88	1.97	1.46	1.74	2.03	2.66	2.60	2.62	2.70	2.66
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-103	-50	-135	-78	-86	-101	-69	-43	-54	-76	-52
Operating Cash Flow to CapEx	181.49%	181.22%	221.53%	164.67%	130.46%	219.96%	240.19%	224.40%	168.21%	243.20%	292.21%
Free Cash Flow to Firm to Interest Expense	-258.59	0.00	-193.24	-52.05	-53.82	-84.50	-23.96	-15.80	-24.73	-44.66	-23.45
Operating Cash Flow to Interest Expense	323.50	0.00	257.29	110.00	73.88	199.25	79.34	62.67	62.77	135.76	76.77
Operating Cash Flow Less CapEx to Interest Expense	145.25	0.00	141.14	43.20	17.25	108.67	46.31	34.74	25.45	79.94	50.50
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.80	0.77	0.77	0.80	0.80	0.79	0.83	0.82	0.82	0.83	0.90
Accounts Receivable Turnover	5.42	5.44	5.51	5.68	5.65	5.79	5.83	5.39	5.70	5.79	6.05
Inventory Turnover	4.63	4.67	4.50	4.26	4.20	4.29	4.29	4.12	4.08	4.41	4.52
Fixed Asset Turnover	1.88	1.93	2.00	2.09	2.20	2.29	2.46	2.45	2.53	2.61	2.80
Accounts Payable Turnover	8.09	7.87	8.44	8.61	7.77	7.95	8.87	8.10	7.31	7.82	8.75
Days Sales Outstanding (DSO)	67.28	67.15	66.20	64.31	64.65	63.07	62.64	67.68	64.06	62.99	60.33
Days Inventory Outstanding (DIO)	78.81	78.18	81.15	85.68	86.95	85.16	85.03	88.62	89.51	82.69	80.70
Days Payable Outstanding (DPO)	45.11	46.40	43.27	42.38	46.99	45.89	41.13	45.08	49.96	46.66	41.73
Cash Conversion Cycle (CCC)	100.99	98.93	104.09	107.60	104.61	102.33	106.53	111.21	103.60	99.02	99.30
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,270	2,198	2,246	2,138	2,083	2,024	1,982	1,955	1,889	1,795	1,763
Invested Capital Turnover	1.33	1.37	1.36	1.41	1.47	1.55	1.56	1.54	1.61	1.69	1.75
Increase / (Decrease) in Invested Capital	187	174	265	183	193	229	219	191	187	177	210
Enterprise Value (EV)	15,774	23,223	21,268	23,539	28,645	25,118	26,779	27,541	24,728	16,451	17,435
Market Capitalization	16,187	23,708	21,774	23,978	29,243	25,975	27,665	28,332	25,615	17,341	18,143
Book Value per Share	$37.11	$37.04	$37.94	$35.37	$36.47	$38.94	$38.83	$37.00	$37.45	$36.27	$33.37
Tangible Book Value per Share	$35.48	$35.42	$36.27	$33.72	$34.82	$37.27	$37.17	$35.32	$35.75	$34.57	$31.72
Total Capital	2,886	2,885	2,955	2,783	2,887	3,088	3,076	2,955	2,985	2,894	2,680
Total Debt	203	203	203	206	206	207	207	208	208	209	209
Total Long-Term Debt	203	203	203	73	73	73	152	206	206	207	207
Net Debt	-414	-484	-506	-439	-598	-857	-887	-791	-887	-890	-708
Capital Expenditures (CapEx)	71	105	81	100	91	109	96	75	82	95	58
Debt-free, Cash-free Net Working Capital (DFCFNWC)	527	503	543	536	576	545	595	569	518	508	550
Debt-free Net Working Capital (DFNWC)	931	988	1,034	982	1,178	1,399	1,494	1,365	1,405	1,403	1,279
Net Working Capital (NWC)	931	988	1,034	849	1,045	1,265	1,439	1,363	1,402	1,401	1,277
Net Nonoperating Expense (NNE)	-6.14	-6.12	-6.47	-6.57	-8.31	-9.10	-12	-6.95	-7.91	-2.42	38
Net Nonoperating Obligations (NNO)	-414	-484	-506	-439	-598	-857	-887	-791	-887	-890	-708
Total Depreciation and Amortization (D&A)	40	41	40	39	36	36	36	34	32	31	30
Debt-free, Cash-free Net Working Capital to Revenue	18.19%	17.39%	18.88%	18.63%	19.67%	18.47%	20.35%	19.84%	17.97%	17.61%	18.91%
Debt-free Net Working Capital to Revenue	32.14%	34.14%	35.95%	34.14%	40.22%	47.41%	51.05%	47.62%	48.71%	48.59%	43.97%
Net Working Capital to Revenue	32.14%	34.14%	35.95%	29.52%	35.67%	42.87%	49.16%	47.54%	48.63%	48.51%	43.89%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.24	$1.79	$1.87	$1.52	$1.57	$1.85	$2.17	$2.08	$1.88	$1.38	$1.62
Adjusted Weighted Average Basic Shares Outstanding	72.50M	73M	72.80M	73M	73.50M	74.30M	74.30M	74.30M	74.50M	74.40M	74.40M
Adjusted Diluted Earnings per Share	$1.23	$1.78	$1.85	$1.51	$1.55	$1.83	$2.14	$2.06	$1.85	$1.37	$1.59
Adjusted Weighted Average Diluted Shares Outstanding	73M	73.70M	73.40M	73.70M	74.30M	75.30M	75.30M	75.40M	75.70M	75.80M	75.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	71.85M	72.30M	72.42M	72.54M	72.84M	73.30M	73.99M	73.86M	74.24M	74.14M	74.03M
Normalized Net Operating Profit after Tax (NOPAT)	84	124	130	105	107	128	149	148	132	101	158
Normalized NOPAT Margin	11.99%	16.56%	17.34%	14.92%	15.39%	17.47%	19.99%	19.65%	18.43%	14.19%	23.05%
Pre Tax Income Margin	15.83%	22.02%	22.02%	18.33%	18.32%	22.98%	25.02%	24.53%	22.03%	18.16%	19.83%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	267.00	0.00	229.43	84.13	76.75	134.08	62.45	67.63	70.59	76.29	62.23
NOPAT to Interest Expense	209.16	0.00	185.04	69.82	66.87	106.58	51.53	54.87	60.04	59.16	71.96
EBIT Less CapEx to Interest Expense	88.75	0.00	113.29	17.33	20.13	43.50	29.41	39.70	33.27	20.47	35.95
NOPAT Less CapEx to Interest Expense	30.91	0.00	68.90	3.02	10.25	16.00	18.49	26.95	22.72	3.34	45.69
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	12.76%	12.00%	11.73%	11.07%	10.13%	9.61%	10.06%	10.76%	9.93%	9.23%	8.45%
Augmented Payout Ratio	104.24%	125.84%	148.54%	136.60%	123.58%	83.47%	56.76%	61.00%	30.90%	43.85%	40.63%

Frequently Asked Questions About West Pharmaceutical Services' Financials

When does West Pharmaceutical Services's fiscal year end?

According to the most recent income statement we have on file, West Pharmaceutical Services' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has West Pharmaceutical Services' net income changed over the last 9 years?

West Pharmaceutical Services' net income appears to be on an upward trend, with a most recent value of $492.70 million in 2024, rising from $95.60 million in 2015. The previous period was $593.40 million in 2023. See West Pharmaceutical Services' forecast for analyst expectations on what’s next for the company.

What is West Pharmaceutical Services's operating income?

West Pharmaceutical Services's total operating income in 2024 was $569.90 million, based on the following breakdown:

Total Gross Profit: $998.50 million
Total Operating Expenses: $428.60 million

How has West Pharmaceutical Services revenue changed over the last 9 years?

Over the last 9 years, West Pharmaceutical Services' total revenue changed from $1.40 billion in 2015 to $2.89 billion in 2024, a change of 106.7%.

How much debt does West Pharmaceutical Services have?

West Pharmaceutical Services' total liabilities were at $961.10 million at the end of 2024, a 1.3% increase from 2023, and a 43.2% increase since 2015.

How much cash does West Pharmaceutical Services have?

In the past 9 years, West Pharmaceutical Services' cash and equivalents has ranged from $203 million in 2016 to $894.30 million in 2022, and is currently $484.60 million as of their latest financial filing in 2024.

How has West Pharmaceutical Services' book value per share changed over the last 9 years?

Over the last 9 years, West Pharmaceutical Services' book value per share changed from 14.20 in 2015 to 37.04 in 2024, a change of 160.8%.

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This page (NYSE:WST) was last updated on 5/28/2025 by MarketBeat.com Staff

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West Pharmaceutical Services (WST) Financials

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West Pharmaceutical Services (WST) Financials

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