West Pharmaceutical Services (WST) Financials

$211.15 -0.14 (-0.07%)

Closing price 03:59 PM Eastern

Extended Trading

$210.98 -0.17 (-0.08%)

As of 07:35 PM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	96	144	151	207	242	346	662	586	593	493
Consolidated Net Income / (Loss)	96	144	151	207	242	346	662	586	593	493
Net Income / (Loss) Continuing Operations	96	144	151	207	242	346	662	586	593	493
Total Pre-Tax Income	116	190	222	241	292	401	749	680	698	586
Total Operating Income	129	195	226	240	297	407	752	734	676	570
Total Gross Profit	456	501	513	545	606	768	1,176	1,136	1,129	999
Total Revenue	1,400	1,509	1,599	1,717	1,840	2,147	2,832	2,887	2,950	2,893
Operating Revenue	1,400	1,509	1,599	1,717	1,840	2,147	2,832	2,887	2,950	2,893
Total Cost of Revenue	944	1,008	1,086	1,172	1,234	1,379	1,656	1,751	1,821	1,895
Operating Cost of Revenue	944	1,008	1,086	1,172	1,234	1,379	1,656	1,751	1,821	1,895
Total Operating Expenses	327	306	287	305	309	361	424	402	453	429
Selling, General & Admin Expense	233	240	246	263	273	302	363	317	353	339
Research & Development Expense	34	37	39	40	39	47	53	59	68	69
Other Operating Expenses / (Income)	60	30	2.00	1.90	-2.50	12	7.90	27	31	21
Total Other Income / (Expense), net	-13	-5.40	-3.40	0.40	-4.80	-5.60	-3.40	-54	22	16
Interest Expense	14	8.10	7.80	8.40	8.50	8.20	8.20	7.90	9.00	3.00
Interest & Investment Income	1.60	1.10	1.30	2.10	3.80	1.40	1.00	5.10	28	20
Other Income / (Expense), net	-	1.60	3.10	6.70	-0.10	1.20	3.80	-51	3.00	-1.00
Income Tax Expense	26	54	81	41	59	73	107	115	122	108
Other Gains / (Losses), net	5.80	8.20	9.20	7.60	8.90	17	20	21	18	15
Basic Earnings per Share	$1.33	$1.96	$2.04	$2.80	$3.27	$4.68	$8.89	$7.87	$7.98	$6.75
Weighted Average Basic Shares Outstanding	72M	73.30M	73.90M	73.90M	74M	73.90M	74.40M	74.40M	74.30M	73M
Diluted Earnings per Share	$1.30	$1.91	$1.99	$2.74	$3.21	$4.57	$8.67	$7.73	$7.88	$6.69
Weighted Average Diluted Shares Outstanding	73.80M	75M	75.80M	75.40M	75.40M	75.80M	76.30M	75.80M	75.30M	73.70M
Weighted Average Basic & Diluted Shares Outstanding	71.90M	73.30M	73.90M	73.90M	147.67M	74.10M	74.28M	74.14M	73.30M	72.30M
Cash Dividends to Common per Share	$0.46	$0.50	$0.54	$0.58	$0.62	$0.66	$0.70	$0.74	$0.78	$0.82

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

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

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

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

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

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

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

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

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

Frequently Asked Questions About West Pharmaceutical Services' Financials

When does West Pharmaceutical Services's financial year end?

According to the most recent income statement we have on file, West Pharmaceutical Services' fiscal year ends in December. Their fiscal 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 where experts think West Pharmaceutical Services is headed by visiting West Pharmaceutical Services' forecast page.

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 5/5/2025 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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