WST Healthcare

West Pharmaceutical Services, Inc.

$406.99-0.22%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Healthcare
Industry: Medical Instruments & Supplies
Country: United States
Market cap: 28.6B USD
Enterprise value: 26.8B USD
Full-time employees: 10,800

Overall health

Drawback: its share price swings more than most peers’ (beta 1.14 vs a peer median of 0.63)bigger price swings (beta 1.14 vs peers 0.63)
About average: growth, valuation and risk (debt, liquidity and share-price swings)growth, valuation and risk

Ranks #372 of 1,157 healthcare companies (top 33%)

See how it ranks against its peers

Worth knowing

Sales growing faster than profits. Since 2022: revenue +6.5%, operating profit −20%.
Since 2022, West Pharmaceutical Services's revenue changed +6.5% while operating profit fell 20%: costs rose faster than sales.
Share count shrinking. Shares outstanding down 5.0% from December 2022 to July 2026.
West Pharmaceutical Services had 5.0% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Wide margins. Operating margin 20% (12 months to Jun 2026) vs a peer median of 7.1%.Operating margin 20% vs peers 7.1%.
West Pharmaceutical Services keeps 20% of revenue as operating profit, more than 81% of peers (median 7.1%).

StockQuotient Score

60/ 100

Oct 5 61 → Nov 4 60 (-1)

Valuation

Is the price right?

48/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.0%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 0.33Sector median: 0.0148 · MAD: 0.0148

EBITDA yield3.0%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.24Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield1.5%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield10.4%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

54/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 3.3%

Why

Helped by:

▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth18.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.29Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth5.1%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -0.09Sector median: 0.0584 · MAD: 0.0840

Revenue growth12.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.65Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

91/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROA
▲ ROIC
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin20.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.10Sector median: 0.0706 · MAD: 0.1217

Return on assets13.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.27Sector median: 0.0166 · MAD: 0.0537

Return on invested capital19.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.47Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin36.8%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity18.9%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Mixed versus peers:

▲ Debt / equity
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.14

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.51Sector median: 0.6250 · MAD: 0.3380

Current ratio2.82×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.17Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.07×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.75Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about West Pharmaceutical Services

Is West Pharmaceutical Services getting weaker?: Its latest SEC filing (Jul 23, 2026) showed no major changes. Its overall score is unchanged at 60/100 since Oct 28, 2026.
How is West Pharmaceutical Services valued vs its peers?: Priced about in line with its peers. Valuation scores 48/100 against 1,393 healthcare peers.
Is West Pharmaceutical Services growing?: At about the same pace as its peers. Growth scores 54/100 against 1,393 healthcare peers. Revenue growth 12.4% vs a peer median of 6.1% (stronger than 67% of peers).Revenue growth 12.4% vs peers 6.1% (stronger than 67% of peers).
How profitable is West Pharmaceutical Services?: More profitable than most of its peers. Profitability scores 91/100 against 1,393 healthcare peers. Return on assets 13.9% vs a peer median of 1.7% (stronger than 94% of peers).Return on assets 13.9% vs peers 1.7% (stronger than 94% of peers).
How risky is West Pharmaceutical Services?: Moderate risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Debt / equity 0.07× vs a peer median of 0.22× (stronger than 73% of peers).Debt / equity 0.07× vs peers 0.22× (stronger than 73% of peers). Beta 1.14 vs a peer median of 0.63 (weaker than 77% of peers).Beta 1.14 vs peers 0.63 (weaker than 77% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 23, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	3.2B USD	3.3B USD	+3.3%
Net income (12 months)	542.7M USD	564.9M USD	+4.1%
Operating margin	20.3%	20.5%	+0.1 pts
Free cash flow (12 months)	458.0M USD	436.9M USD	−4.6%
Debt	202.8M USD	202.9M USD	+0.0%
Cash	521.4M USD	435.8M USD	−16.4%
Shares outstanding	70.6M	70.4M	−0.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Medical Instruments & Supplies · 25 companies

Valuations in Medical Instruments & Supplies are near the bottom of their range since Jul 2018.

18% of months since Jul 2018 were valued lower than now.
0% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +17% vs the whole market, against a usual +86%.

Jul 2018Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	41.5%	39.4%	38.3%	34.5%	35.9%	▲ 1.4 pts
Operating margin	26.6%	25.4%	22.9%	19.7%	19.0%	▼ 0.7 pts
Net margin	23.4%	20.3%	20.1%	17.0%	16.1%	▼ 1.0 pts
Return on assets (ROA)	20.0%	16.2%	15.5%	13.5%	11.6%	▼ 2.0 pts
Return on equity (ROE)	28.3%	21.8%	20.6%	18.4%	15.5%	▼ 2.8 pts
Free cash flow margin	11.7%	15.2%	14.1%	9.6%	15.3%	▲ 5.7 pts
Current ratio	2.93×	3.70×	2.88×	2.79×	3.02×	▲ 8.1%
Quick ratio	2.30×	2.90×	2.24×	2.11×	2.34×	▲ 11%
Debt to equity	0.11×	0.08×	0.07×	0.08×	0.06×	▼ 15%
Interest coverage	91.74×	92.91×	75.11×	189.97×	1169.80×	▲ 516%

WST price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Drawback: its share price swings more than most peers’ (beta 1.14 vs a peer median of 0.63)bigger price swings (beta 1.14 vs peers 0.63)

About average: growth, valuation and risk (debt, liquidity and share-price swings)growth, valuation and risk

Ranks #372 of 1,157 healthcare companies (top 33%)

See how it ranks against its peers

Worth knowing

Sales growing faster than profits. Since 2022: revenue +6.5%, operating profit −20%.

Since 2022, West Pharmaceutical Services's revenue changed +6.5% while operating profit fell 20%: costs rose faster than sales.

Share count shrinking. Shares outstanding down 5.0% from December 2022 to July 2026.

West Pharmaceutical Services had 5.0% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

Wide margins. Operating margin 20% (12 months to Jun 2026) vs a peer median of 7.1%.Operating margin 20% vs peers 7.1%.

West Pharmaceutical Services keeps 20% of revenue as operating profit, more than 81% of peers (median 7.1%).

Questions investors ask about West Pharmaceutical Services

Is West Pharmaceutical Services getting weaker?

Its latest SEC filing (Jul 23, 2026) showed no major changes. Its overall score is unchanged at 60/100 since Oct 28, 2026.

How is West Pharmaceutical Services valued vs its peers?

Priced about in line with its peers. Valuation scores 48/100 against 1,393 healthcare peers.

Is West Pharmaceutical Services growing?

At about the same pace as its peers. Growth scores 54/100 against 1,393 healthcare peers. Revenue growth 12.4% vs a peer median of 6.1% (stronger than 67% of peers).Revenue growth 12.4% vs peers 6.1% (stronger than 67% of peers).

How profitable is West Pharmaceutical Services?

More profitable than most of its peers. Profitability scores 91/100 against 1,393 healthcare peers. Return on assets 13.9% vs a peer median of 1.7% (stronger than 94% of peers).Return on assets 13.9% vs peers 1.7% (stronger than 94% of peers).

How risky is West Pharmaceutical Services?

Moderate risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Debt / equity 0.07× vs a peer median of 0.22× (stronger than 73% of peers).Debt / equity 0.07× vs peers 0.22× (stronger than 73% of peers). Beta 1.14 vs a peer median of 0.63 (weaker than 77% of peers).Beta 1.14 vs peers 0.63 (weaker than 77% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

3.2B USD

3.3B USD

+3.3%

Net income (12 months)

542.7M USD

564.9M USD

+4.1%

Operating margin

20.3%

20.5%

+0.1 pts

Free cash flow (12 months)

458.0M USD

436.9M USD

−4.6%

Debt

202.8M USD

202.9M USD

+0.0%

Cash

521.4M USD

435.8M USD

−16.4%

Shares outstanding

70.6M

70.4M

−0.4%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

41.5%

39.4%

38.3%

34.5%

35.9%

▲ 1.4 pts

Operating margin

26.6%

25.4%

22.9%

19.7%

19.0%

▼ 0.7 pts

Net margin

23.4%

20.3%

20.1%

17.0%

16.1%

▼ 1.0 pts

Return on assets (ROA)

20.0%

16.2%

15.5%

13.5%

11.6%

▼ 2.0 pts

Return on equity (ROE)

28.3%

21.8%

20.6%

18.4%

15.5%

▼ 2.8 pts

Free cash flow margin

11.7%

15.2%

14.1%

9.6%

15.3%

▲ 5.7 pts

Current ratio

2.93×

3.70×

2.88×

2.79×

3.02×

▲ 8.1%

Quick ratio

2.30×

2.90×

2.24×

2.11×

2.34×

▲ 11%

Debt to equity

0.11×

0.08×

0.07×

0.08×

0.06×

▼ 15%

Interest coverage

91.74×

92.91×

75.11×

189.97×

1169.80×

▲ 516%