West Pharmaceutical Services, Inc. (WST) quarterly cash flow statement — complete operating, investing & financing history
West Pharmaceutical Services, Inc. (WST) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 124M | 89.9M | 251.1M | 197.2M | 177.1M | 129.4M | 190.1M | 180.1M | 165M | 118.2M | 239.1M | 230.1M | 169.2M | 138.1M | 230.8M | 168.9M | 173.1M | 151.2M | 160.8M | 190.1M |
| Operating CF Margin % | 14.22% | 10.64% | 31.19% | 24.52% | 23.11% | 18.53% | 25.4% | 24.11% | 23.5% | 17% | 32.66% | 30.78% | 22.43% | 19.29% | 32.58% | 24.61% | 22.43% | 21.01% | 22.06% | 26.9% |
| Operating CF Growth % | -29.98% | -30.53% | 32.09% | 9.49% | 7.33% | 9.48% | -20.49% | -21.73% | -2.48% | -14.41% | 3.6% | 36.23% | -2.25% | -8.66% | 43.53% | -11.15% | 19.88% | 70.46% | 8.14% | 60.29% |
| Net Income | 154M | 138.8M | 132.1M | 140M | 131.8M | 89.8M | 130.1M | 136M | 111.3M | 115.3M | 137M | 161.3M | 155.1M | 140M | 103M | 120.6M | 188.5M | 173.8M | 147.7M | 175.6M |
| Depreciation & Amortization | 45.7M | 44.6M | 47M | 43M | 40.8M | 39.1M | 40.7M | 40.2M | 38.9M | 35.6M | 35.9M | 35.7M | 34.1M | 31.6M | 31.1M | 29.8M | 30.1M | 29.6M | 34.4M | 30M |
| Stock-Based Compensation | 10.9M | 6.6M | 6.7M | 8.4M | 7.4M | 1.3M | 4.3M | 5.1M | 4.3M | 5M | 1.4M | 5.9M | 7.5M | 8.5M | 6.7M | 6M | 5.5M | 5.5M | 10M | 11.3M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 23.4M | -192M | 3.7M | 0 | -30.8M | 0 | 0 | 0 | -43.1M | 0 |
| Other Non-Cash Items | -189.5M | 2.8M | 1.5M | 3.7M | -2.8M | -900K | -8.5M | -1.1M | -3.6M | -3.1M | 14.5M | 194.4M | -5.9M | 4.8M | 3M | 44.1M | -3.5M | -7.5M | 17.1M | -6.8M |
| Working Capital Changes | 102.9M | -102.9M | 63.8M | 2.1M | -100K | 100K | 23.5M | -100K | 14.1M | -34.6M | 26.9M | 24.8M | -25.3M | -46.8M | 117.8M | -31.6M | -47.5M | -50.2M | -5.3M | -20M |
| Change in Receivables | 0 | 0 | 6.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4M | 0 | 0 | 0 | -35.6M | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | -62.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -13.5M | 0 | 0 | 0 | -49.8M | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.5M | 0 | 0 | 0 | -2.8M | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -43.2M | -42.7M | -76.1M | -63.3M | -75.2M | -71.3M | -104.8M | -82.1M | -101.2M | -90.6M | -108.8M | -95.7M | -82.1M | -82.1M | -94.8M | -59.1M | -66M | -68.3M | -77.4M | -65.3M |
| Capital Expenditures | -43.2M | -42.7M | -76.1M | -63.3M | -75.2M | -71.3M | -104.9M | -81.3M | -100.2M | -90.6M | -108.7M | -95.8M | -75.4M | -82.1M | -94.9M | -57.8M | -66.1M | -65.8M | -76.5M | -65.3M |
| CapEx % of Revenue | 4.95% | 5.05% | 9.45% | 7.87% | 9.81% | 10.21% | 14.01% | 10.88% | 14.27% | 13.03% | 14.85% | 12.82% | 10% | 11.47% | 13.4% | 8.42% | 8.57% | 9.14% | 10.49% | 9.24% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.2M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 100K | -800K | -1M | 0 | -100K | 100K | -6.7M | 0 | 100K | -1.3M | 100K | -2.5M | 1.3M | 0 |
| Cash from Financing | -164.8M | -308.7M | -11.7M | -11.5M | -14.9M | -147M | -68.9M | -64.4M | -218.3M | -271M | -189.5M | -22.3M | -176.8M | -71M | -9.5M | -75.2M | -36.2M | -172.7M | -6.2M | -5.8M |
| Debt Issued (Net) | -400K | -300K | -300K | -300K | -300K | -200K | -100K | -3.5M | -23.4M | -600K | -600K | -600K | -500K | -600K | -600K | -42.6M | -500K | -600K | -1.1M | 0 |
| Equity Issued (Net) | 290.1M | -290.1M | -200K | 3.9M | -500K | -136M | -54.6M | -52.4M | -187.2M | -272.4M | -177.1M | -28.1M | -174.4M | -71.6M | 100K | -27.5M | -28.9M | -165.9M | -100K | -300K |
| Dividends Paid | -15.7M | -15.8M | -15.8M | -15.1M | -15.1M | -15.2M | -15.3M | -14.5M | -14.6M | -14.7M | -14.8M | -14M | -14.1M | -14.1M | -14.1M | -13.5M | -13.1M | -13.4M | -13.3M | -12.6M |
| Share Repurchases | 297.6M | -297.6M | -200K | -100K | -500K | -136M | -54.6M | -52.4M | -187.2M | -272.4M | -177.1M | -28.1M | -174.4M | -71.6M | 100K | -27.5M | -28.9M | -165.9M | -100K | -300K |
| Other Financing | -438.8M | -2.5M | 4.6M | 0 | 1M | 4.4M | 1.1M | 6M | 6.9M | 16.7M | 3M | 20.4M | 12.2M | 15.3M | 5.1M | 8.4M | 6.3M | 7.2M | 8.3M | 7.1M |
| Net Change in Cash | -85.6M | -269.9M | 162.8M | 118.8M | 105.5M | -80.4M | -6.3M | 44.7M | -155.6M | -252.1M | -44.7M | 102.3M | -90M | -8M | 165.3M | 10.5M | 50.8M | -94.9M | 74.6M | 111.8M |
| Free Cash Flow | 80.8M | 47.2M | 175M | 133.9M | 101.9M | 58.1M | 85.2M | 98.8M | 64.8M | 27.6M | 130.4M | 134.3M | 93.8M | 56M | 135.9M | 111.1M | 107M | 85.4M | 84.3M | 124.8M |
| FCF Margin % | 9.26% | 5.59% | 21.74% | 16.65% | 13.3% | 8.32% | 11.38% | 13.23% | 9.23% | 3.97% | 17.81% | 17.97% | 12.44% | 7.82% | 19.18% | 16.19% | 13.87% | 11.87% | 11.56% | 17.66% |
| FCF Growth % | -20.71% | -18.76% | 105.4% | 35.53% | 57.25% | 110.51% | -34.66% | -26.43% | -30.92% | -50.71% | -4.05% | 20.88% | -12.34% | -34.43% | 61.21% | -10.98% | 22.29% | 151.18% | -11.08% | 75.53% |
| FCF per Share | 1.13 | 0.65 | 2.41 | 1.84 | 1.40 | 0.80 | 1.16 | 1.35 | 0.88 | 0.37 | 1.74 | 1.78 | 1.24 | 0.74 | 1.80 | 1.47 | 1.41 | 1.12 | 1.10 | 1.64 |
| FCF Conversion (FCF/Net Income) | 0.81x | 0.65x | 1.90x | 1.41x | 1.34x | 1.44x | 1.46x | 1.32x | 1.48x | 1.03x | 1.75x | 1.43x | 1.09x | 0.99x | 2.24x | 1.40x | 0.92x | 0.87x | 1.09x | 1.08x |
| Interest Paid | 0 | 0 | 300K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |