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WEST PHARMACEUTICAL SERVICES INC WST

NYSE · stock · Surgical & Medical Instruments & Apparatus · website · IPO 1923-07-27 · LEI

WEST PHARMACEUTICAL SERVICES INC statistics & valuation

Market cap$23.3B
P / E47.2×
P / S7.6×
P / B7.3×
P / FCF49.7×
Dividend yield0.26%
Net margin16.1%
Return on equity15.5%
FCF margin15.3%
Net cash$588.5M
Net debt / EBITDA-0.8×
Enterprise value USD$22.7B
EV / EBITDA30×
Earnings yield EBIT/EV2.6%
Return on capital16.2%
Graham number -76.8%$81.70

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($81.70); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
12.00% 13.10% 16.10% 23.40% 20.30% 20.10% 17.00% 16.10% 2016201720182019202020212022202320242025
Gross margin (%)
33.20% 32.10% 31.80% 32.90% 35.80% 41.50% 39.40% 38.30% 34.50% 35.90% 2016201720182019202020212022202320242025
Operating margin (%)
12.90% 14.10% 14.00% 16.10% 19.00% 26.60% 25.40% 22.90% 19.70% 19.00% 2016201720182019202020212022202320242025
Return on equity (%)
14.80% 15.40% 18.70% 28.30% 21.80% 20.60% 18.40% 15.50% 2016201720182019202020212022202320242025
Shares outstanding
75.0M 75.8M 75.4M 75.4M 75.8M 76.3M 75.8M 75.3M 73.7M 72.7M 2016201720182019202020212022202320242025
Net debt ($)
$25.6M -$38.9M -$141.3M -$181.8M -$360.3M -$509.6M -$685.4M -$647.1M -$282.0M -$588.5M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
10.50% 10.30% 12.40% 20.00% 16.20% 15.50% 13.50% 11.60% 2016201720182019202020212022202320242025
Free cash flow margin (%)
3.30% 8.30% 10.70% 13.10% 13.90% 11.70% 15.20% 14.10% 9.60% 15.30% 2016201720182019202020212022202320242025
Debt / equity (×)
0.20× 0.15× 0.14× 0.16× 0.14× 0.11× 0.08× 0.07× 0.08× 0.06× 2016201720182019202020212022202320242025
EPS ($)
$1.91 $1.99 $2.74 $3.21 $4.57 $8.67 $7.73 $7.88 $6.69 $6.79 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

WEST PHARMACEUTICAL SERVICES INC trades at about 51.9× earnings — near its 10-year norm (10-year range 34×–65.5×, median 47.3×).

34× 65.5×

Shaded band = 10-year range (34×–65.5×); dot = today's 51.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin35.9%34.5%38.3%39.4%41.5%35.8%32.9%31.8%32.1%33.2%
Operating margin19.0%19.7%22.9%25.4%26.6%19.0%16.1%14.0%14.1%12.9%
Net margin16.1%17.0%20.1%20.3%23.4%16.1%13.1%12.0%——
FCF margin15.3%9.6%14.1%15.2%11.7%13.9%13.1%10.7%8.3%3.3%
Return on assets11.6%13.5%15.5%16.2%20.0%12.4%10.3%10.5%——
Return on equity15.5%18.4%20.6%21.8%28.3%18.7%15.4%14.8%——
Debt / equity0.06×0.08×0.07×0.08×0.11×0.14×0.16×0.14×0.15×0.20×
Current ratio3.022.792.883.702.932.733.103.152.662.66

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.