West Pharmaceutical Services, Inc. (WST) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Medical - Instruments & Supplies
EV/EBITDA
↓
29.87
+0% vs avg
5yr avg: 29.74
30Y Low5.6·High40.1
P/FCF
↓
48.05
↓-30% vs avg
5yr avg: 68.56
30Y Low14.6·High129.3
P/B Ratio
↓
7.15
↓-23% vs avg
5yr avg: 9.29
30Y Low1.7·High15.3
ROE
↓
16.9%
↑-24% vs avg
5yr avg: 22.2%
30Y Low-3%·High32%
Debt/EBITDA
↑
0.56
↑+36% vs avg
5yr avg: 0.41
30Y Low0.4·High2.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
WST Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
West Pharmaceutical Services, Inc. trades at 46.0x earnings, 5% above its 5-year average of 43.7x, sitting at the 75th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a premium of 108%. On a free-cash-flow basis, the stock trades at 48.0x P/FCF, 30% below the 5-year average of 68.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $22.5B | $20.0B | $24.1B | $26.5B | $17.8B | $35.8B | $21.5B | $11.3B | $7.4B | $7.5B | $6.4B |
| Enterprise Value | $22.2B | $19.6B | $24.0B | $26.0B | $17.3B | $35.3B | $21.2B | $11.2B | $7.3B | $7.4B | $6.4B |
| P/E Ratio → | 45.96 | 40.46 | 48.96 | 44.69 | 30.45 | 54.10 | 61.99 | 46.83 | 35.78 | 49.58 | 44.41 |
| P/S Ratio | 7.33 | 6.51 | 8.35 | 8.98 | 6.18 | 12.64 | 10.00 | 6.15 | 4.30 | 4.67 | 4.22 |
| P/B Ratio | 7.15 | 6.30 | 9.00 | 9.20 | 6.64 | 15.32 | 11.58 | 7.20 | 5.29 | 5.84 | 5.69 |
| P/FCF | 48.05 | 42.66 | 87.34 | 63.97 | 40.60 | 108.24 | 72.04 | 47.07 | 40.19 | 56.45 | 129.31 |
| P/OCF | 29.85 | 26.50 | 36.95 | 34.15 | 24.64 | 61.28 | 45.45 | 30.87 | 25.61 | 28.41 | 29.00 |
P/E links to full P/E history page with 30-year chart
WST EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
West Pharmaceutical Services, Inc.'s enterprise value stands at 29.9x EBITDA, roughly in line with its 5-year average of 29.7x. The Healthcare sector median is 14.1x, placing the stock at a 111% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.39 | 8.28 | 8.80 | 5.98 | 12.49 | 9.87 | 6.09 | 4.22 | 4.65 | 4.23 |
| EV / EBITDA | 29.87 | 26.46 | 31.95 | 30.62 | 19.53 | 40.12 | 40.12 | 28.02 | 20.18 | 22.79 | 20.86 |
| EV / EBIT | 35.88 | 32.76 | 40.72 | 36.74 | 25.11 | 46.67 | 51.70 | 37.44 | 29.14 | 32.42 | 32.56 |
| EV / FCF | — | 41.86 | 86.69 | 62.65 | 39.29 | 106.92 | 71.07 | 46.62 | 39.42 | 56.15 | 129.83 |
WST Profitability
Margins and return-on-capital ratios measuring operating efficiency
West Pharmaceutical Services, Inc. earns an operating margin of 20.1%. Operating margins have compressed from 24.1% to 20.1% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 16.9% indicates solid capital efficiency. ROIC of 17.5% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.9% | 35.9% | 34.6% | 38.4% | 39.5% | 41.5% | 35.8% | 33.0% | 31.8% | 32.2% | 33.2% |
| Operating Margin | 20.1% | 20.1% | 20.6% | 24.1% | 26.5% | 26.8% | 19.5% | 16.1% | 14.8% | 14.4% | 14.3% |
| Net Profit Margin | 16.1% | 16.1% | 17.0% | 20.1% | 20.3% | 23.4% | 16.1% | 13.1% | 12.0% | 9.4% | 9.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.9% | 16.9% | 17.7% | 21.3% | 23.3% | 31.6% | 20.2% | 16.3% | 15.5% | 12.6% | 13.4% |
| ROA | 12.5% | 12.5% | 13.2% | 15.9% | 16.9% | 21.7% | 13.5% | 12.3% | 12.0% | 8.4% | 8.4% |
| ROIC | 17.5% | 17.5% | 18.4% | 24.0% | 28.6% | 32.9% | 20.8% | 16.4% | 15.3% | 14.5% | 14.8% |
| ROCE | 18.4% | 18.4% | 19.0% | 22.7% | 26.2% | 30.3% | 19.5% | 18.0% | 17.6% | 15.0% | 15.1% |
WST Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
West Pharmaceutical Services, Inc. carries a Debt/EBITDA ratio of 0.6x, which is very conservative (83% below the sector average of 3.3x). The company holds a net cash position — cash of $791M exceeds total debt of $417M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 998.7x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.13 | 0.13 | 0.11 | 0.11 | 0.12 | 0.14 | 0.18 | 0.21 | 0.14 | 0.15 | 0.20 |
| Debt / EBITDA | 0.56 | 0.56 | 0.41 | 0.36 | 0.36 | 0.37 | 0.62 | 0.82 | 0.55 | 0.60 | 0.75 |
| Net Debt / Equity | — | -0.12 | -0.07 | -0.19 | -0.21 | -0.19 | -0.16 | -0.07 | -0.10 | -0.03 | 0.02 |
| Net Debt / EBITDA | -0.50 | -0.50 | -0.24 | -0.64 | -0.65 | -0.50 | -0.55 | -0.27 | -0.39 | -0.12 | 0.08 |
| Debt / FCF | — | -0.80 | -0.65 | -1.31 | -1.31 | -1.32 | -0.97 | -0.46 | -0.77 | -0.29 | 0.52 |
| Interest Coverage | 998.67 | 998.67 | 202.90 | 80.32 | 90.46 | 89.11 | 48.21 | 37.48 | 30.72 | 32.32 | 30.66 |
Net cash position: cash ($791M) exceeds total debt ($417M)
WST Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
West Pharmaceutical Services, Inc.'s current ratio of 3.02x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 2.34x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 2.88x to 3.02x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.02 | 3.02 | 2.79 | 2.88 | 3.70 | 2.93 | 2.73 | 3.10 | 3.15 | 2.66 | 2.66 |
| Quick Ratio | 2.34 | 2.34 | 2.11 | 2.24 | 2.90 | 2.30 | 2.09 | 2.41 | 2.40 | 1.89 | 1.84 |
| Cash Ratio | 1.21 | 1.21 | 0.88 | 1.27 | 1.72 | 1.28 | 1.22 | 1.29 | 1.19 | 0.84 | 0.84 |
| Asset Turnover | — | 0.72 | 0.79 | 0.77 | 0.80 | 0.85 | 0.77 | 0.79 | 1.08 | 0.86 | 0.88 |
| Inventory Turnover | 4.44 | 4.44 | 5.01 | 4.18 | 4.21 | 4.38 | 4.29 | 5.24 | 5.46 | 5.04 | 5.06 |
| Days Sales Outstanding | — | 68.21 | 69.71 | 63.33 | 64.18 | 63.05 | 65.51 | 63.22 | 61.23 | 57.75 | 48.49 |
WST Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
West Pharmaceutical Services, Inc. returns 0.9% to shareholders annually — split between a 0.3% dividend yield and 0.6% buyback yield. The payout ratio of 12.4% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 2.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.3% | 0.3% | 0.2% | 0.2% | 0.3% | 0.1% | 0.2% | 0.4% | 0.6% | 0.5% | 0.6% |
| Payout Ratio | 12.4% | 12.4% | 12.0% | 9.6% | 9.2% | 7.7% | 13.9% | 18.7% | 20.3% | 25.9% | 24.9% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.2% | 2.5% | 2.0% | 2.2% | 3.3% | 1.8% | 1.6% | 2.1% | 2.8% | 2.0% | 2.3% |
| FCF Yield | 2.1% | 2.3% | 1.1% | 1.6% | 2.5% | 0.9% | 1.4% | 2.1% | 2.5% | 1.8% | 0.8% |
| Buyback Yield | 0.6% | 0.7% | 2.3% | 1.7% | 1.2% | 0.4% | 0.6% | 0.8% | 1.0% | 1.0% | 0.9% |
| Total Shareholder Yield | 0.9% | 1.0% | 2.6% | 1.9% | 1.5% | 0.6% | 0.8% | 1.2% | 1.5% | 1.5% | 1.4% |
| Shares Outstanding | — | $73M | $74M | $75M | $76M | $76M | $76M | $75M | $75M | $76M | $75M |
Peer Comparison
Compare WST with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 WSTYou | $23B | 46.0 | 29.9 | 48.0 | 35.9% | 20.1% | 16.9% | 17.5% | 0.6 |
 ATR | $8B | 20.9 | 11.3 | 26.4 | 29.6% | 13.6% | 15.1% | 10.7% | 1.9 |
 GTLS | $10B | 629.6 | 14.3 | 49.0 | 29.2% | 15.2% | 1.3% | 7.4% | 4.0 |
 AVTR | $6B | -10.8 | 56.9 | 11.6 | 32.7% | -3.8% | -9.2% | -2.0% | 24.1 |
 AMCR | $19B | 25.1 | 18.9 | 22.9 | 18.9% | 6.7% | 6.5% | 4.1% | 8.7 |
 SEE | $6B | 12.3 | 14.3 | 13.5 | 29.8% | 13.5% | 54.3% | 11.2% | 5.9 |
 PFE | $151B | 19.5 | 10.7 | 16.6 | 70.3% | 24.7% | 8.9% | 7.5% | 3.3 |
 JNJ | $541B | 38.8 | 18.8 | 27.3 | 69.1% | 24.9% | 20.1% | 20.7% | 1.2 |
 MRK | $280B | 15.6 | 10.8 | 22.7 | 72.0% | 36.2% | 36.9% | 22.0% | 1.7 |
 ABBV | $363B | 86.5 | 15.1 | 20.4 | 70.2% | 32.8% | 6214.7% | 23.9% | 2.4 |
 BDX | $52B | 24.8 | 14.0 | 19.6 | 45.4% | 11.8% | 6.5% | 4.3% | 3.8 |
| Healthcare Median | — | 22.1 | 14.1 | 18.7 | 63.9% | -5.3% | -33.7% | -10.8% | 3.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
Full WST Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
See WST's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs WST Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare WST vs ATR
Side-by-side business, growth, and profitability comparison vs AptarGroup, Inc..
Start ComparisonWST — Frequently Asked Questions
Quick answers to the most common questions about buying WST stock.
What is West Pharmaceutical Services, Inc.'s P/E ratio?
West Pharmaceutical Services, Inc.'s current P/E ratio is 46.0x. The historical average is 32.8x. This places it at the 75th percentile of its historical range.
What is West Pharmaceutical Services, Inc.'s EV/EBITDA?
West Pharmaceutical Services, Inc.'s current EV/EBITDA is 29.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.8x.
What is West Pharmaceutical Services, Inc.'s ROE?
West Pharmaceutical Services, Inc.'s return on equity (ROE) is 16.9%. The historical average is 13.7%.
Is WST stock overvalued?
Based on historical data, West Pharmaceutical Services, Inc. is trading at a P/E of 46.0x. This is at the 75th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is West Pharmaceutical Services, Inc.'s dividend yield?
West Pharmaceutical Services, Inc.'s current dividend yield is 0.27% with a payout ratio of 12.4%.
What are West Pharmaceutical Services, Inc.'s profit margins?
West Pharmaceutical Services, Inc. has 35.9% gross margin and 20.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does West Pharmaceutical Services, Inc. have?
West Pharmaceutical Services, Inc.'s Debt/EBITDA ratio is 0.6x, indicating low leverage. A ratio below 2x is generally considered financially healthy.