WS
West Pharmaceutical Services Inc
WST—
West Pharmaceutical Services Inc AI Insights
Informational only. Not investment advice.Snapshot
- Operating margin 20.9% TTM vs industry median -5.0% - profitable in sector where most peers lose money[Operating Margin TTM]
- Debt/equity 0.10 with 628.5M cash vs 297.6M total debt - net cash position funds growth without dilution[Debt to Equity]
- ROIC 15.4% TTM vs industry median -10.3% - capital allocation creates value where peers destroy it[ROIC TTM]
Watch Triggers
- Operating Margin TTM: Falls below 18% — Margin compression would signal pricing power erosion or cost inflation - thesis breaker
- Capital Expenditure TTM: Exceeds 350M for 2+ quarters — Continued elevated capex delays FCF expansion thesis and pressures returns
- Total Revenue 5Y Growth: Decelerates below 6% — Slower growth at current valuation would compress multiple significantly
Bull Case
Fortress balance sheet (net cash, 0.10 D/E) in essential pharma packaging with 20.9% operating margins creates durable moat - peers can't match reinvestment capacity
Debt to EquityOperating Margin TTMCash and Equivalents
ROIC 15.4% vs -10.3% industry median shows pricing power and operational excellence; 5Y 8% revenue growth sustains reinvestment runway
ROIC TTMTotal Revenue 5Y Growth
Bear Case
P/E 37.3x vs industry median 31.9x and P/S 6.5x vs 1.9x median - premium valuation leaves no margin for execution missteps
PE RatioPS Ratio
5Y revenue CAGR 8.0% below industry median 10.4% - growth rate doesn't justify premium multiple without acceleration
Total Revenue 5Y Growth
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
55%
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Forward Thesis
Margin expansion likely as capex intensity (10.4% of revenue TTM) normalizes post-capacity build
1-3ymed
- Capex 314.7M TTM elevated vs 379.1M FCF
- PPE 1.84B signals recent heavy investment
- Operating leverage on fixed cost base
FCF margin 12.6% TTM despite heavy capexOperating margin 20.9% already top-tier5Y revenue CAGR 8.0% supports utilization
Valuation Context
Caveats
Public Strategies Rankings
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WST Fundamentals
Manufacturing → Miscellaneous Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$18.86B | — | ||
$18.53B | — | ||
36 | — | ||
$3.02B | +4.9% | — | |
$7.21 | +3.7% | — | |
20.9% | +0.4% | — | |
16.3% | -1.1% | — | |
$379.1M | +17.9% | — | |
0.17 | -0.8% | — | |
Beta 5Y (Monthly) | unknown | — |
WST Dividend History
105 dividends
2026
$0.220001/28/26$0.2200
2025
$0.850011/12/25$0.2200
07/30/25$0.2100
04/30/25$0.2100
02/07/25$0.2100
2024
$0.810011/13/24$0.2100
07/31/24$0.2000
04/23/24$0.2000
01/30/24$0.2000
2023
$0.770011/07/23$0.2000
07/25/23$0.1900
04/25/23$0.1900
01/24/23$0.1900
2022
$0.730011/08/22$0.1900
07/19/22$0.1800
04/19/22$0.1800
01/18/22$0.1800
2021
$0.690011/09/21$0.1800
07/20/21$0.1700
04/20/21$0.1700
01/19/21$0.1700
2020
$0.650011/09/20$0.1700
07/28/20$0.1600
04/21/20$0.1600
01/21/20$0.1600
2019
$0.610010/22/19$0.1600
07/23/19$0.1500
04/16/19$0.1500
01/22/19$0.1500
2018
$0.570010/23/18$0.1500
07/17/18$0.1400
04/17/18$0.1400
01/17/18$0.1400
2017
$0.530010/17/17$0.1400
07/17/17$0.1300
04/17/17$0.1300
01/13/17$0.1300
2016
$0.490010/17/16$0.1300
07/18/16$0.1200
04/18/16$0.1200
01/15/16$0.1200
2015
$0.450010/19/15$0.1200
07/20/15$0.1100
04/20/15$0.1100
01/16/15$0.1100
2014
$0.410010/20/14$0.1100
07/21/14$0.1000
04/21/14$0.1000
01/17/14$0.1000
2013
$0.385010/21/13$0.1000
07/22/13$0.0950
04/15/13$0.0950
01/18/13$0.0950
2012
$0.365010/22/12$0.0950
07/16/12$0.0900
04/16/12$0.0900
01/13/12$0.0900
2011
$0.345010/17/11$0.0900
07/18/11$0.0850
04/18/11$0.0850
01/14/11$0.0850
2010
$0.325010/18/10$0.0850
07/19/10$0.0800
04/19/10$0.0800
01/15/10$0.0800
2009
$0.305010/19/09$0.0800
07/20/09$0.0750
04/20/09$0.0750
01/16/09$0.0750
2008
$0.285010/20/08$0.0750
07/21/08$0.0700
04/21/08$0.0700
01/18/08$0.0700
2007
$0.265010/22/07$0.0700
07/16/07$0.0650
04/16/07$0.0650
01/22/07$0.0650
2006
$0.245010/16/06$0.0650
07/17/06$0.0600
04/17/06$0.0600
01/13/06$0.0600
2005
$0.225010/17/05$0.0600
07/18/05$0.0550
04/18/05$0.0550
01/14/05$0.0550
2004
$0.212510/18/04$0.0550
07/19/04$0.0525
04/19/04$0.0525
01/16/04$0.0525
2003
$0.202510/20/03$0.0525
07/21/03$0.0500
04/21/03$0.0500
01/17/03$0.0500
2002
$0.192510/21/02$0.0500
07/22/02$0.0475
04/15/02$0.0475
01/18/02$0.0475
2001
$0.182510/22/01$0.0475
07/16/01$0.0450
04/16/01$0.0450
01/22/01$0.0450
2000
$0.172510/16/00$0.0450
07/17/00$0.0425
04/17/00$0.0425
01/14/00$0.0425
WST Stock Splits
2 stock splits
09/27/130.5:1 split
09/30/040.5:1 split
WST SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/23/25 | 09/30/25 | 10-Q | |
07/24/25 | 06/30/25 | 10-Q | |
04/24/25 | 03/31/25 | 10-Q | |
02/18/25 | 12/31/24 | Unknown | |
10/24/24 | 09/30/24 | 10-Q | |
07/25/24 | 06/30/24 | 10-Q | |
04/25/24 | 03/31/24 | 10-Q | |
02/20/24 | 12/31/23 | 10-K | |
10/26/23 | 09/30/23 | 10-Q | |
07/27/23 | 06/30/23 | 10-Q | |
04/27/23 | 03/31/23 | 10-Q | |
02/21/23 | 12/31/22 | 10-K | |
10/27/22 | 09/30/22 | 10-Q | |
07/28/22 | 06/30/22 | 10-Q | |
04/28/22 | 03/31/22 | 10-Q | |
02/22/22 | 12/31/21 | 10-K | |
10/28/21 | 09/30/21 | 10-Q | |
07/30/21 | 06/30/21 | 10-Q | |
04/30/21 | 03/31/21 | 10-Q | |
02/23/21 | 12/31/20 | 10-K | |
10/23/20 | 09/30/20 | 10-Q | |
07/24/20 | 06/30/20 | 10-Q | |
04/24/20 | 03/31/20 | 10-Q | |
02/24/20 | 12/31/19 | 10-K | |
10/29/19 | 09/30/19 | 10-Q | |
07/29/19 | 06/30/19 | 10-Q | |
05/08/19 | 03/31/19 | 10-Q | |
02/28/19 | 12/31/18 | 10-K | |
10/30/18 | 09/30/18 | 10-Q | |
07/31/18 | 06/30/18 | 10-Q | |
05/08/18 | 03/31/18 | 10-Q | |
02/26/18 | 12/31/17 | 10-K | |
10/31/17 | 09/30/17 | 10-Q | |
08/01/17 | 06/30/17 | 10-Q | |
05/05/17 | 03/31/17 | 10-Q | |
02/28/17 | 12/31/16 | 10-K | |
10/31/16 | 09/30/16 | 10-Q | |
08/01/16 | 06/30/16 | 10-Q | |
05/06/16 | 03/31/16 | 10-Q | |
02/26/16 | 12/31/15 | 10-K | |
11/02/15 | 09/30/15 | 10-Q | |
08/03/15 | 06/30/15 | 10-Q | |
05/06/15 | 03/31/15 | 10-Q | |
02/25/15 | 12/31/14 | 10-K | |
11/03/14 | 09/30/14 | 10-Q | |
08/01/14 | 06/30/14 | 10-Q | |
05/08/14 | 03/31/14 | 10-Q | |
02/27/14 | 12/31/13 | 10-K | |
11/04/13 | 09/30/13 | 10-Q | |
08/05/13 | 06/30/13 | 10-Q | |
05/06/13 | 03/31/13 | 10-Q | |
02/27/13 | 12/31/12 | 10-K | |
11/05/12 | 09/30/12 | 10-Q | |
08/06/12 | 06/30/12 | 10-Q | |
05/04/12 | 03/31/12 | 10-Q | |
02/29/12 | 12/31/11 | 10-K | |
11/07/11 | 09/30/11 | 10-Q | |
08/05/11 | 06/30/11 | 10-Q | |
05/05/11 | 03/31/11 | 10-Q | |
02/28/11 | 12/31/10 | 10-K | |
11/05/10 | 09/30/10 | 10-Q | |
08/05/10 | 06/30/10 | 10-Q | |
05/06/10 | 03/31/10 | 10-Q | |
02/25/10 | 12/31/09 | 10-K | |
11/04/09 | 09/30/09 | 10-Q | |
08/05/09 | 06/30/09 | 10-Q | |
05/06/09 | 03/31/09 | 10-Q | |
02/27/09 | 12/31/08 | 10-K | |
11/06/08 | 09/30/08 | 10-Q | |
06/30/08 | 06/30/08 | 4 | |
05/08/08 | 03/30/08 | Unknown | -- |
02/29/08 | 12/31/07 | 4 | |
11/02/07 | 09/30/07 | 8-K | |
08/03/07 | 06/30/07 | 8-K | |
05/08/07 | 03/31/07 | 4 | |
03/01/07 | 12/31/06 | 8-K | |
11/08/06 | 09/30/06 | 8-K | |
08/07/06 | 06/30/06 | 4 | |
05/10/06 | 03/30/06 | Unknown | -- |
03/06/06 | 12/31/05 | 8-K | |
11/04/05 | 09/30/05 | 4 | |
08/09/05 | 06/30/05 | 4 | |
05/10/05 | 03/30/05 | Unknown | -- |
03/09/05 | 12/31/04 | 4 | |
11/04/04 | 09/30/04 | 4 | |
08/04/04 | 06/30/04 | 8-K | |
05/05/04 | 03/30/04 | Unknown | -- |
03/12/04 | 12/31/03 | 8-K | |
11/10/03 | 09/30/03 | 4 | |
08/13/03 | 06/30/03 | 4 | |
05/13/03 | 03/31/03 | 8-K | |
03/26/03 | 12/31/02 | 10-K | |
11/14/02 | 09/30/02 | 10-Q | |
08/07/02 | 06/30/02 | 10-Q | |
05/08/02 | 03/30/02 | Unknown | -- |
03/28/02 | 12/31/01 | 8-K | |
10/19/01 | 09/30/01 | 10-Q | |
08/10/01 | 06/30/01 | 10-Q | |
04/27/01 | 03/30/01 | Unknown | -- |
03/30/01 | 12/31/00 | 10-K | |
11/13/00 | 09/30/00 | 10-Q | |
08/14/00 | 06/30/00 | 10-Q | |
05/15/00 | 03/30/00 | Unknown | -- |