West Pharmaceutical Services, Inc. (WST) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Medical - Instruments & Supplies
EV/EBITDA
↓
31.37
+5% vs avg
5yr avg: 29.74
30Y Low5.6·High40.1
P/FCF
↓
50.43
↓-26% vs avg
5yr avg: 68.56
30Y Low14.6·High129.3
P/B Ratio
↓
7.51
↓-19% 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 48.2x earnings, 10% above its 5-year average of 43.7x, sitting at the 82nd percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a premium of 118%. On a free-cash-flow basis, the stock trades at 50.4x P/FCF, 26% 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 | $23.6B | $20.0B | $24.1B | $26.5B | $17.8B | $35.8B | $21.5B | $11.3B | $7.4B | $7.5B | $6.4B |
| Enterprise Value | $23.3B | $19.6B | $24.0B | $26.0B | $17.3B | $35.3B | $21.2B | $11.2B | $7.3B | $7.4B | $6.4B |
| P/E Ratio → | 48.24 | 40.46 | 48.96 | 44.69 | 30.45 | 54.10 | 61.99 | 46.83 | 35.78 | 49.58 | 44.41 |
| P/S Ratio | 7.69 | 6.51 | 8.35 | 8.98 | 6.18 | 12.64 | 10.00 | 6.15 | 4.30 | 4.67 | 4.22 |
| P/B Ratio | 7.51 | 6.30 | 9.00 | 9.20 | 6.64 | 15.32 | 11.58 | 7.20 | 5.29 | 5.84 | 5.69 |
| P/FCF | 50.43 | 42.66 | 87.34 | 63.97 | 40.60 | 108.24 | 72.04 | 47.07 | 40.19 | 56.45 | 129.31 |
| P/OCF | 31.33 | 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 31.4x EBITDA, 5% above its 5-year average of 29.7x. The Healthcare sector median is 14.2x, placing the stock at a 121% 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 | 31.37 | 26.46 | 31.95 | 30.62 | 19.53 | 40.12 | 40.12 | 28.02 | 20.18 | 22.79 | 20.86 |
| EV / EBIT | 37.69 | 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 3.2x). 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 0.8% 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 2.1% (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 | 2.1% | 2.5% | 2.0% | 2.2% | 3.3% | 1.8% | 1.6% | 2.1% | 2.8% | 2.0% | 2.3% |
| FCF Yield | 2.0% | 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 | 0.8% | 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 | $24B | 48.2 | 31.4 | 50.4 | 35.9% | 20.1% | 16.9% | 17.5% | 0.6 |
 ATR | $8B | 20.5 | 11.1 | 25.9 | 29.6% | 13.6% | 15.1% | 10.7% | 1.9 |
 GTLS | $10B | 630.3 | 14.4 | 49.1 | 29.2% | 15.2% | 1.3% | 7.4% | 4.0 |
 AVTR | $7B | -12.3 | 61.7 | 13.2 | 32.7% | -3.8% | -9.2% | -2.0% | 24.1 |
 AMCR | $19B | 25.7 | 19.2 | 23.4 | 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 | $143B | 18.5 | 10.3 | 15.8 | 70.3% | 24.7% | 8.9% | 7.5% | 3.3 |
 JNJ | $550B | 39.4 | 19.1 | 27.7 | 69.1% | 24.9% | 20.1% | 20.7% | 1.2 |
 MRK | $281B | 15.6 | 10.8 | 22.8 | 72.0% | 36.2% | 36.9% | 22.0% | 1.7 |
 ABBV | $383B | 91.4 | 15.8 | 21.5 | 70.2% | 32.8% | 6214.7% | 23.9% | 2.4 |
 BDX | $52B | 24.7 | 14.0 | 19.5 | 45.4% | 11.8% | 6.5% | 4.3% | 3.8 |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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WST — 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 48.2x. The historical average is 32.8x. This places it at the 82th percentile of its historical range.
What is West Pharmaceutical Services, Inc.'s EV/EBITDA?
West Pharmaceutical Services, Inc.'s current EV/EBITDA is 31.4x. 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 48.2x. This is at the 82th 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 0.26% 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.