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Earnings transcript
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WST
West Pharmaceutical Services, Inc.
$384.02
1
(0.26%)
| Exchange: | NYSE |
| Market Cap: | 27.026B |
| Shares Outstanding: | 63.158M |
Delayed data
About The Company
| Sector: | HealthcareView sector performance | |||||
| Industry: | Medical – Instruments & SuppliesView industry performance | |||||
| CEO: | Michel Lagarde | |||||
| Full Time Employees: | 10800 | |||||
| Address: |
| |||||
| Website: | https://www.westpharma.com |
West Pharmaceutical Services, Inc. (WST) specializes in the development, manufacturing, and global distribution of essential containment and delivery solutions for injectable pharmaceuticals and other healthcare products. The company’s operations span across the Americas, Europe, the Middle East, Africa, and the Asia Pacific region, structured into two primary business units: Proprietary Products and Contract-Manufactured Products. The Proprietary Products segment offers a comprehensive array of components for injectable packaging, including stoppers and seals, alongside syringe and cartridge parts, which can be customized for specific injectable drug delivery requirements. It also provides advanced drug administration systems designed to enhance safe and effective delivery through sophisticated reconstitution, mixing, and transfer technologies. This segment further supplies ancillary services such as specialized films, protective coatings, cleaning, precision vision inspection, and sterilization processes to elevate the quality of packaging components. Innovative drug containment options, like Crystal Zenith – a cyclic olefin polymer used in vials, syringes, and cartridges – and user-friendly self-injection devices are also key offerings. Additionally, it provides a suite of integrated support services covering analytical laboratory analysis, primary packaging assistance during the pre-approval stage, engineering development, regulatory guidance, and post-purchase technical support. Its clientele primarily includes manufacturers of biologic, generic, and other pharmaceutical products. In contrast, the Contract-Manufactured Products division focuses on the design, production, and automated assembly of various devices for surgical, diagnostic, ophthalmic, and general drug delivery applications, alongside consumer items. This segment caters to pharmaceutical, diagnostic, and medical device manufacturers. The company’s offerings reach customers worldwide through a dedicated sales team, an extensive distribution network, and partnerships with contract sales agents and regional distributors. Established in 1923, West Pharmaceutical Services, Inc. is headquartered in Exton, Pennsylvania.
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Revenue Segmentation
WST full analysis
Welcome to MARKETSNAP’s SWOT analysis for West Pharmaceutical Services, or WST as it’s known on the ticker. If you’re not familiar with this company, let me give you the quick rundown. West Pharmaceutical Services is a key player in the healthcare sector, specifically in the medical instruments and supplies industry. They specialize in providing innovative solutions for injectable drug administration, like vials, syringes, and other containment systems critical to the pharmaceutical world. With a solid market cap and a global…
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 2,951,100 | 2,892,700 | 3,073,700 |
| Gross Profit | 1,132,700 | 1,002,200 | 1,103,300 |
| EBITDA | 844,100 | 743,800 | 770,600 |
| Operating Income | 710,900 | 594,600 | 617,400 |
| Net Income | 593,400 | 492,700 | 493,700 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 3,829,500 | 3,643,400 | 4,270,000 |
| Total Liabilities | 948,500 | 961,100 | 1,094,000 |
| Total Stockholders Equity | 2,881,000 | 2,682,300 | 3,176,000 |
| Total Debt | 309,000 | 302,300 | 416,700 |
| Cash and Cash Equivalents | 853,900 | 484,600 | 791,300 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 776,500 | 653,400 | 754,800 |
| Capital Expenditure | -362,000 | -377,000 | -285,900 |
| Free Cash Flow | 414,500 | 276,400 | 468,900 |
| Net Income | 593,400 | 492,700 | 493,700 |
| Net Change in Cash | -40,400 | -369,300 | 306,700 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 4,407,944.534 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 4,556,753.295 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 4,480,500 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 1,551,064.978 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 1,604,057.767 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 1,576,902.577 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 997,085.602 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 1,041,061.833 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 1,018,527.014 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 531,012.160 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 548,938.716 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 539,752.705 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 14.010 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 14.320 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 13.720 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 5 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 1 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: West Pharmaceutical Services reported strong Q2 2025 results in the latest earnings call, with net income and revenue exceeding analyst expectations. Key metrics such as revenue growth, high gross profit margin (TTM), and positive free cash flow (TTM) reflect operational efficiency and financial stability.
- Industry Positioning: WST benefits from a favorable position within its industry and sector, as evidenced by consistent outperformance in perf1y and perf5y metrics compared to industry averages. The company's focus on specialized products aligns with sector trends, enhancing its competitive edge.
- Strong Liquidity and Balance Sheet: The balance sheet data indicates a healthy current ratio (TTM) and quick ratio (TTM), showcasing the company's ability to meet short-term obligations. Additionally, a manageable debt-to-equity ratio (TTM) supports financial flexibility.
- Strategic Leadership and Innovation: Insights from the Q2 2025 earnings call highlight proactive management strategies, with raised guidance and ongoing investments in innovation, positioning WST to maintain market leadership through product development and operational improvements.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MarketSnap estimates WST intrinsic value between $175.99 – $201.51 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about WST valuation
Is West Pharmaceutical Services, Inc. (WST) overvalued or undervalued right now?
MarketSnap estimates intrinsic value for West Pharmaceutical Services, Inc. (WST) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is WST a buy, hold, or sell for long-term investors?
MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether WST trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is WST’s P/E ratio?
You can see WST’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for WST?
MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is WST a good long-term investment?
Whether WST fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
WST
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Daily snapshot
0.26
Trading Metrics:
| Open: | 383.51 | Previous Close: | 383.02 | |
| Day Low: | 380.23 | Day High: | 386.64 | |
| Year Low: | 223.83 | Year High: | 386.22 | |
| Price Avg 50: | 357.43 | Price Avg 200: | 306.75 | |
| Volume: | 511174 | Average Volume: | 669508 |
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