West Pharmaceutical Services, Inc. (WST) Key Metrics
WST valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $27.03B
- Enterprise value
- $19.44B
- P/E (TTM)
- 49.4 10-yr median 45.8
- Forward P/E
- 37.0
- PEG ratio
- 3.43
- Price / sales
- 8.1 10-yr median 6.3
- Price / book
- 6.7 10-yr median 6.9
- EV / EBITDA
- 25.6 10-yr median 26.7
- Dividend yield
- 0.23% $0.88 a year
- Beta
- 1.12
WST key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsWST valuation Price multiples at each fiscal year-end price.
WST returns How much profit the business earns on the capital it uses.
WST per-share figures Results divided by the shares outstanding at year-end.
WST financial health Debt, liquidity and how easily interest is covered.
WST efficiency & capital use Working capital cycle and where the cash goes.
WST valuation history
WST returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
WST debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
WST cash returned to shareholders
WST price vs earnings per share
WST key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $20.00B | $24.14B | $26.51B | $17.84B | $35.79B | $21.47B | $11.33B | $7.39B | $7.48B | $6.36B |
| Enterprise value | $19.63B | $23.96B | $25.97B | $17.26B | $35.35B | $21.19B | $11.23B | $7.25B | $7.54B | $6.39B |
| P/E ratio | 40.5 | 49.0 | 44.7 | 30.4 | 54.1 | 62.0 | 46.9 | 35.7 | 49.6 | 44.3 |
| Price / sales | 6.5 | 8.3 | 9.0 | 6.2 | 12.6 | 10.0 | 6.1 | 4.3 | 4.7 | 4.2 |
| Price / book | 6.3 | 9.0 | 9.2 | 6.6 | 15.3 | 11.6 | 7.2 | 5.3 | 4.5 | 5.7 |
| Price / free cash flow | 42.7 | 87.3 | 64.0 | 40.6 | 108.2 | 72.0 | 47.1 | 40.2 | 56.4 | 129.3 |
| Price / operating cash flow | 26.5 | 36.9 | 34.1 | 24.6 | 61.3 | 45.4 | 30.9 | 25.6 | 28.4 | 29.0 |
| EV / sales | 6.4 | 8.3 | 8.8 | 6.0 | 12.5 | 9.9 | 6.1 | 4.2 | 4.7 | 4.2 |
| EV / EBITDA | 25.5 | 32.2 | 30.8 | 21.4 | 40.2 | 40.8 | 27.8 | 20.5 | 23.2 | 22.2 |
| EV / free cash flow | 41.9 | 86.7 | 62.7 | 39.3 | 106.9 | 71.1 | 46.6 | 39.4 | 56.9 | 129.8 |
| Earnings yield | 2.5% | 2.0% | 2.2% | 3.3% | 1.8% | 1.6% | 2.1% | 2.8% | 2.0% | 2.3% |
| Free cash flow yield | 2.3% | 1.1% | 1.6% | 2.5% | 0.9% | 1.4% | 2.1% | 2.5% | 1.8% | 0.8% |
| Dividend yield | 0.3% | 0.2% | 0.2% | 0.3% | 0.1% | 0.2% | 0.4% | 0.6% | 0.5% | 0.6% |
| Shareholder yield (dividends + buybacks) | 1.0% | 2.6% | 1.9% | 1.5% | 0.6% | 0.8% | 1.1% | 1.5% | 1.5% | 1.4% |
| Share price at fiscal year-end | $275.14 | $327.56 | $352.12 | $235.35 | $469.01 | $283.31 | $150.33 | $98.03 | $98.67 | $84.83 |
| Per share | ||||||||||
| Revenue per share | $42.28 | $39.25 | $39.19 | $38.07 | $37.10 | $28.32 | $24.45 | $22.79 | $21.10 | $20.12 |
| Earnings per share | $6.79 | $6.69 | $7.88 | $7.73 | $8.67 | $4.57 | $3.21 | $2.74 | $1.99 | $1.91 |
| Operating cash flow per share | $10.38 | $8.87 | $10.31 | $9.55 | $7.65 | $6.23 | $4.87 | $3.83 | $3.47 | $2.93 |
| Free cash flow per share | $6.45 | $3.75 | $5.50 | $5.80 | $4.33 | $3.93 | $3.19 | $2.44 | $1.75 | $0.66 |
| Cash per share | $10.88 | $6.58 | $11.34 | $11.80 | $9.99 | $8.12 | $5.82 | $4.47 | $3.11 | $2.71 |
| Book value per share | $43.69 | $36.39 | $38.26 | $35.42 | $30.61 | $24.47 | $20.86 | $18.52 | $21.98 | $14.90 |
| Tangible book value per share | $42.07 | $34.81 | $36.62 | $33.76 | $28.87 | $22.60 | $19.04 | $16.84 | $20.27 | $13.22 |
| Dividends per share | $0.84 | $0.80 | $0.76 | $0.71 | $0.67 | $0.63 | $0.60 | $0.56 | $0.52 | $0.48 |
| Capex per share | $3.93 | $5.12 | $4.81 | $3.75 | $3.32 | $2.30 | $1.68 | $1.39 | $1.73 | $2.27 |
| Debt per share | $5.73 | $4.14 | $4.10 | $4.19 | $4.26 | $4.30 | $4.37 | $2.60 | $3.95 | $3.05 |
| Shares outstanding | 72.7M | 73.7M | 75.3M | 75.8M | 76.3M | 75.8M | 75.4M | 75.4M | 75.8M | 75.0M |
| Change in shares outstanding | −1.4% | −2.1% | −0.7% | −0.7% | +0.7% | +0.5% | 0.0% | −0.5% | +1.1% | +1.6% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 16.9% | 17.7% | 21.3% | 23.3% | 31.6% | 20.2% | 16.3% | 13.5% | 10.8% | 13.4% |
| Return on invested capital (ROIC) | 18.7% | 20.2% | 26.5% | 31.9% | 37.7% | 22.9% | 17.6% | 14.2% | 10.1% | 12.8% |
| Return on assets (ROA) | 12.5% | 13.2% | 15.9% | 16.9% | 21.7% | 13.5% | 12.3% | 12.0% | 8.4% | 8.4% |
| Return on tangible assets | 11.9% | 14.0% | 16.0% | 16.8% | 20.8% | 13.1% | 11.0% | 14.1% | 8.7% | 9.0% |
| Free cash flow margin | 15.3% | 9.6% | 14.0% | 15.2% | 11.7% | 13.9% | 13.1% | 10.7% | 8.3% | 3.3% |
| Income quality (OCF / net income) | 1.53 | 1.33 | 1.31 | 1.24 | 0.88 | 1.36 | 1.52 | 1.39 | 1.75 | 1.53 |
| Financial health | ||||||||||
| Total debt | $416.7M | $305.3M | $309.0M | $317.9M | $325.3M | $325.7M | $329.3M | $196.1M | $299.5M | $228.6M |
| Cash & short-term investments | $791.3M | $484.6M | $853.9M | $894.3M | $762.6M | $615.5M | $439.1M | $337.4M | $235.9M | $203.0M |
| Net debt | −$374.6M | −$179.3M | −$544.9M | −$576.4M | −$437.3M | −$289.8M | −$109.8M | −$141.3M | $63.6M | $25.6M |
| Debt / equity | 0.13 | 0.11 | 0.11 | 0.12 | 0.14 | 0.18 | 0.21 | 0.14 | 0.18 | 0.20 |
| Debt / assets | 0.10 | 0.08 | 0.08 | 0.09 | 0.10 | 0.12 | 0.14 | 0.12 | 0.16 | 0.13 |
| Net debt / EBITDA | −0.49 | −0.24 | −0.65 | −0.71 | −0.50 | −0.56 | −0.27 | −0.40 | 0.20 | 0.09 |
| Current ratio | 3.02 | 2.79 | 2.88 | 3.70 | 2.93 | 2.73 | 3.10 | 3.15 | 2.66 | 2.66 |
| Quick ratio | 2.34 | 2.11 | 2.24 | 2.90 | 2.30 | 2.09 | 2.41 | 2.40 | 1.89 | 1.84 |
| Interest coverage | — | 205.0 | 80.8 | 100.5 | 89.3 | 49.3 | 37.1 | 31.5 | 35.2 | 28.1 |
| Working capital | $1.32B | $987.7M | $1.26B | $1.40B | $1.15B | $870.3M | $717.1M | $610.7M | $464.0M | $400.9M |
| Invested capital | $2.80B | $2.50B | $2.34B | $2.11B | $1.90B | $1.56B | $1.46B | $1.25B | $1.73B | $1.14B |
| Tangible asset value | $3.06B | $2.57B | $2.76B | $2.56B | $2.20B | $1.71B | $1.44B | $883.6M | $1.54B | $991.2M |
| Net current asset value | $884.2M | $577.0M | $987.9M | $987.6M | $763.6M | $434.4M | $290.5M | $311.8M | $546.5M | $42.7M |
| Graham number | $81.70 | $73.99 | $82.36 | $78.49 | $77.29 | $50.14 | $38.79 | $33.81 | $31.35 | $25.34 |
| Graham net-net per share | $4.81 | $1.71 | $6.73 | $7.26 | $4.46 | $1.66 | $0.37 | $1.04 | $4.44 | −$1.95 |
| Capital allocation | ||||||||||
| Dividends paid | $61.2M | $59.1M | $57.0M | $54.1M | $51.1M | $48.1M | $45.1M | $42.1M | $39.1M | $35.8M |
| Share buybacks (net) | $134.0M | $566.6M | $451.2M | $222.2M | $151.9M | $115.5M | $83.1M | $70.8M | $74.4M | $55.9M |
| Dividend payout ratio | 12.4% | 12.0% | 9.6% | 9.2% | 7.7% | 13.9% | 18.7% | 20.3% | 25.9% | 24.9% |
| Dividends + buybacks / free cash flow | 41.6% | 226.4% | 122.6% | 62.9% | 61.4% | 54.9% | 53.2% | 61.4% | 85.7% | 186.4% |
| Capex / revenue | 9.3% | 13.0% | 12.3% | 9.9% | 9.0% | 8.1% | 6.9% | 6.1% | 8.2% | 11.3% |
| Capex / operating cash flow | 37.9% | 57.7% | 46.6% | 39.3% | 43.4% | 36.9% | 34.4% | 36.3% | 49.7% | 77.6% |
| Capex / depreciation | 1.67 | 2.43 | 2.64 | 2.36 | 2.07 | 1.60 | 1.22 | 1.00 | 1.35 | 1.88 |
| Stock-based compensation / revenue | 0.8% | 0.6% | 0.8% | 0.8% | 1.3% | 1.6% | 1.3% | 0.9% | 1.0% | 1.3% |
| R&D / revenue | 2.4% | 2.4% | 2.3% | 2.0% | 1.9% | 2.2% | 2.1% | 2.3% | 2.4% | 2.4% |
| SG&A / revenue | 12.6% | 11.7% | 12.0% | 11.9% | 12.8% | 14.1% | 14.8% | 15.3% | 15.2% | 15.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 66.9 | 67.2 | 63.0 | 63.0 | 56.4 | 59.9 | 60.1 | 57.5 | 51.8 | 46.2 |
| Days of inventory on hand | 76.0 | 78.4 | 85.3 | 82.9 | 77.1 | 73.7 | 66.5 | 66.9 | 69.6 | 68.9 |
| Days payables outstanding | 45.7 | 46.5 | 45.9 | 46.8 | 49.0 | 49.0 | 42.4 | 41.8 | 43.7 | 43.8 |
| Cash conversion cycle (days) | 97.3 | 99.0 | 102.4 | 99.1 | 84.4 | 84.7 | 84.2 | 82.6 | 77.7 | 71.3 |
| Receivables turnover | 5.46 | 5.43 | 5.79 | 5.79 | 6.48 | 6.09 | 6.07 | 6.35 | 7.05 | 7.90 |
| Payables turnover | 7.99 | 7.85 | 7.94 | 7.80 | 7.44 | 7.45 | 8.60 | 8.73 | 8.35 | 8.34 |
| Inventory turnover | 4.80 | 4.66 | 4.28 | 4.40 | 4.74 | 4.95 | 5.49 | 5.45 | 5.24 | 5.30 |
| Asset turnover | 0.78 | 0.77 | 0.79 | 0.83 | 0.93 | 0.84 | 0.94 | 0.99 | 0.89 | 0.88 |
| Average receivables | $563.5M | $532.2M | $509.7M | $498.2M | $437.1M | $352.3M | $303.8M | $270.7M | $226.8M | $190.9M |
| Average payables | $246.5M | $240.8M | $228.9M | $223.8M | $222.7M | $184.9M | $143.6M | $134.2M | $130.1M | $120.9M |
| Average inventory | $410.4M | $405.9M | $424.8M | $396.6M | $349.9M | $278.5M | $225.1M | $214.8M | $207.2M | $190.2M |
| Intangibles / total assets | 2.8% | 3.2% | 3.2% | 3.5% | 4.0% | 5.1% | 5.9% | 7.9% | 6.9% | 7.4% |
Computed from WST's annual financial statements (latest annual report filed February 17, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
WST valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), West Pharmaceutical traded at 40.5 times earnings, against a 10-year median of 45.8. Based on the latest twelve months, the trailing P/E is 49.4 and the forward P/E is 37.0. West Pharmaceutical earned a return on equity of 16.9% and a return on invested capital of 18.7% in fiscal 2025. It ended the year with $416.7 million of debt and $791.3 million in cash and short-term investments, a net cash position of $374.6 million. It returned $195.2 million to shareholders: $61.2 million in dividends and $134.0 million in share buybacks, 42% of free cash flow. The share count fell 3.1% from 75.0M to 72.7M over 9 years.
See the WST income statement, the WST chart for price history, or the WST stock overview for the latest quote and news.
WST key metrics FAQ
What is West Pharmaceutical's P/E ratio?
West Pharmaceutical's trailing P/E ratio is 49.4 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 37.0. At the end of fiscal 2025 it was 40.5, compared with a 10-year median of 45.8.
What is West Pharmaceutical's EV/EBITDA?
West Pharmaceutical's enterprise value was 25.5 times EBITDA at the end of fiscal 2025 (enterprise value $19.6 billion, EBITDA $770.6 million); the current EV/EBITDA is 25.6.
What is West Pharmaceutical's return on equity?
West Pharmaceutical's return on equity (ROE) was 16.9% in fiscal 2025: net income of $493.7 million on average shareholders' equity of $2.9 billion.
What is West Pharmaceutical's ROIC?
West Pharmaceutical's return on invested capital was 18.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does West Pharmaceutical have?
West Pharmaceutical had total debt of $416.7 million at the end of fiscal 2025, a debt-to-equity ratio of 0.13 and more cash than debt.
What is West Pharmaceutical's dividend yield?
West Pharmaceutical's forward dividend yield is 0.23%. West Pharmaceutical paid $61.2 million in dividends in fiscal 2025 ($0.84 per share), a payout ratio of 12.4%.
Does West Pharmaceutical buy back its shares?
Yes. West Pharmaceutical spent $134.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −1.4% over the year, to 72.7M..
What is West Pharmaceutical's free cash flow yield?
West Pharmaceutical generated $468.9 million of free cash flow in fiscal 2025, a free cash flow yield of 2.3% on its market value at year-end ($20.0 billion).
What is West Pharmaceutical's current ratio?
West Pharmaceutical's current ratio was 3.02 at the end of fiscal 2025: current assets were 3.02 times current liabilities.