West Pharmaceutical Services, Inc.

NYSE:WST Stock Report

Market Cap: US$23.3b

West Pharmaceutical Services Past Earnings Performance

Past criteria checks 4/6

West Pharmaceutical Services's earnings have been declining at an average annual rate of -3.8%, while the Life Sciences industry saw earnings declining at 3.8% annually. Revenues have been growing at an average rate of 3.2% per year. West Pharmaceutical Services's return on equity is 18.1%, and it has net margins of 16.8%.

Key information

-3.84%

Earnings growth rate

-3.25%

EPS growth rate

Life Sciences Industry Growth21.51%
Revenue growth rate3.15%
Return on equity18.15%
Net Margin16.85%
Last Earnings Update31 Mar 2026

Recent past performance updates

Recent updates

Narrative Update Jun 06

WST: Injectable Platforms And High Value Mix Will Support Future Earnings Power

Analysts have nudged their fair value estimate for West Pharmaceutical Services higher to about $352 per share, citing refreshed price targets around $325 to $375 and continued confidence in injectable driven growth and execution. Analyst Commentary Recent Street research has focused on how West Pharmaceutical Services is executing on growth in injectables and high value product categories, and what that could mean for valuation as price targets shift higher.
Seeking Alpha Apr 30

West Pharmaceutical: Multiple Growth Drivers Are A Tailwind

Summary West Pharmaceutical Services maintains dominant market share in injectable drug delivery, underpinned by a wide moat and robust regulatory positioning. WST reported strong Q1 2026 results, with revenue up 21% and adjusted EPS up 46.9%, prompting a guidance raise and share price rebound. Key growth drivers include biologics market expansion, GLP-1 drug demand, and Annex 1 regulatory upgrades, supporting recurring revenue and margin strength. I rate WST a long-term 'hold' due to exemplary dividend safety and a fortress balance sheet, but the current valuation is only slightly below fair value. Read the full article on Seeking Alpha
Narrative Update Apr 27

WST: Higher Margin Mix And Contract Services Expansion Will Support Earnings Power

Analysts have lifted the implied fair value estimate for West Pharmaceutical Services by about $11 to roughly $350, as a series of recent price target changes reflect updated assumptions around growth, margins and P/E multiples. Analyst Commentary Recent Street research on West Pharmaceutical Services shows a mix of upbeat and cautious messages as analysts recalibrate their models and price targets around updated assumptions for growth, margins and P/E multiples.
Narrative Update Feb 07

WST: Margin Resilience And Drug Delivery Portfolio Shift Will Support Earnings Power

Analysts have trimmed their price target on West Pharmaceutical Services by about US$7. This reflects updated assumptions around slightly softer revenue growth, a modestly higher discount rate, a small adjustment to future P/E expectations, and a marginally stronger profit margin outlook.
Narrative Update Jan 24

WST: 2026 Drug Delivery Focus And New Syringe Platform Will Support Earnings Power

Analysts have kept their fair value estimate for West Pharmaceutical Services steady at about $345.71 per share, with only slight tweaks to assumptions like the discount rate, long term revenue growth, profit margin, and future P/E, which together feed into their updated price target narrative. What's in the News West Pharmaceutical Services agreed to sell all manufacturing and supply rights for its SmartDose 3.5 mL On Body Delivery System, along with associated facilities, to AbbVie for total consideration of US$112.5 million at close, subject to working capital and other adjustments (Key Developments).
Narrative Update Jan 07

WST: Normalizing Markets And 2026 Visibility Will Support Earnings Power

Narrative update The updated analyst price target for West Pharmaceutical Services reflects a largely steady fair value near US$346. Analysts point to recent target hikes, higher EPS estimates and a constructive view on growth drivers into 2026 as key supports for the current valuation framework.
Narrative Update Dec 19

WST: Normalizing End Markets Will Support Stronger Earnings Base Into 2026

Analysts have modestly raised their price target on West Pharmaceutical Services to approximately $370, up from about $310. This reflects increased earnings estimates, a stronger setup into 2026, and improving, more stable end markets.
Narrative Update Dec 05

WST: Normalizing End Markets Will Support Strong Earnings Base Into 2026

Analysts have nudged their price target for West Pharmaceutical Services slightly higher to approximately $370, reflecting increased confidence in the company’s earnings power and growth drivers as market conditions normalize and set up favorably into 2026. Analyst Commentary Analyst views on West Pharmaceutical Services remain broadly constructive, with recent target hikes reflecting growing conviction that the company can sustain its earnings recovery as end markets normalize into 2026.
Narrative Update Nov 21

WST: Strong 2025 Outlook and Management Confidence Will Sustain Positive Momentum

West Pharmaceutical Services has seen its average analyst price target raised, with significant increases attributed to strong quarterly results, growing end market confidence, and a positive management outlook for 2026, according to analysts. Analyst Commentary Analysts have responded to West Pharmaceutical Services' recent performance and outlook with a range of observations tying directly to the company's valuation, execution, and growth prospects.
Narrative Update Nov 07

WST: Sustained Earnings Momentum Will Drive Confidence Into 2026

West Pharmaceutical Services has seen its average analyst price target rise from approximately $321 to $351. Analysts cite continued growth drivers and improved market conditions following a strong quarterly performance.
Narrative Update Oct 23

Analysts Raise Target for West Pharmaceutical Services Amid Strong Outlook and Upgraded Guidance

Analysts have increased their price target for West Pharmaceutical Services by $5 to $321. They cited the company's encouraging earnings call, management's confidence in future estimates, and stable end markets with improving investment sentiment.
Analysis Article Jul 25

West Pharmaceutical Services, Inc.'s (NYSE:WST) Shares Climb 25% But Its Business Is Yet to Catch Up

West Pharmaceutical Services, Inc. ( NYSE:WST ) shareholders have had their patience rewarded with a 25% share price...
Analysis Article Jul 13

Here's Why West Pharmaceutical Services (NYSE:WST) Can Manage Its Debt Responsibly

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...
Seeking Alpha Mar 11

West Pharmaceutical: Remains A Strong Long-Term Prospect

Summary West Pharmaceutical Services has faced a challenging year, underperforming against the index, with declining volumes, margins, and returns, but remains a strong long-term investment. The company's high-value products segment, driven by GLP-1 medications and biologics, is expected to boost margins and returns significantly. Despite poor timing in share buybacks and management concerns, West's valuation suggests a potential 12.8% annual return, making it a buy. Key risks include management's strategic decisions and valuation, but the worst seems behind, with attractive prices for long-term growth. Read the full article on Seeking Alpha
Seeking Alpha Feb 17

West Pharmaceuticals Takes A Plunge, But May Still Offer Opportunities

Summary The price of West Pharmaceutical Services plunged over 38% after it released its Q4 and FY 2024 earnings results on February 13. Shareholders, mostly institutional investors apparently, did not like the bottom-line results nor the uninspiring guidance for 2025. Still, West should not be overlooked, and there may be opportunities if the share price continues to rebound after a market overreaction. Read the full article on Seeking Alpha
Seeking Alpha Jan 08

West Pharmaceuticals: Cannot Wrap My Head Around Valuations (Rating Downgrade)

Summary West Pharmaceutical Services stock is down 16% on deteriorating fundamentals. WST's business is contracting, with lower sales growth, compressed margins, and declining ROIC, making current valuations unjustifiable. Industry advantages exist, but high multiples and low incremental returns suggest limited compounding ability. I revise WST to hold with a $300-$330/share valuation, emphasizing the need for it to produce 4%+ sales growth and improved ROIC FY'26 to justify current prices. Read the full article on Seeking Alpha
Seeking Alpha Oct 11

West Pharma's Destocking Dilemma: Why Staying On The Sidelines Makes Sense

Summary West Pharmaceutical Services' stock has been sluggish, trading near its 52-week low, with analysts downgrading estimates and technical indicators pointing to further downside. The company has a strong market position in injectable drug delivery systems, but post-COVID demand normalization and destocking have impacted recent performance. Despite robust seasonal trends, the stock is vulnerable to tax-loss selling, with Morgan Stanley naming it among the most at-risk stocks. Given these factors, a cautious hold on West Pharma is recommended, awaiting potential recovery in Q4 and beyond. Read the full article on Seeking Alpha

Revenue & Expenses Breakdown

How West Pharmaceutical Services makes and spends money. Based on latest reported earnings, on an LTM basis.


Earnings and Revenue History

NYSE:WST Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 263,22154340374
31 Dec 253,07449439074
30 Sep 253,01849236671
30 Jun 252,96048834669
31 Mar 252,89646733568
31 Dec 242,89349333569
30 Sep 242,87650034269
30 Jun 242,87752534970
31 Mar 242,92956935569
31 Dec 232,95059335468
30 Sep 232,92755929966
30 Jun 232,86651932663
31 Mar 232,88455231961
31 Dec 222,88758631659
30 Sep 222,90963137756
30 Jun 222,92968635256
31 Mar 222,88168436255
31 Dec 212,83266235653
30 Sep 212,68161334052
30 Jun 212,52351931051
31 Mar 212,32642330848
31 Dec 202,14734630147
30 Sep 202,03731229144
30 Jun 201,94528629741
31 Mar 201,88826127740
31 Dec 191,84024227339
30 Sep 191,79223026239
30 Jun 191,76722925939
31 Mar 191,74521925841
31 Dec 181,71720725640
30 Sep 181,71115525740
30 Jun 181,67715125639
31 Mar 181,62713324838
31 Dec 171,59915124339
30 Sep 171,56619024539
30 Jun 171,54417624239
31 Mar 171,53518224338
31 Dec 161,50914423837
30 Sep 161,48713824137
30 Jun 161,45410223837
31 Mar 161,4268524636
31 Dec 151,4009624334
30 Sep 151,3909424032
30 Jun 151,40112324133

Quality Earnings: WST has high quality earnings.

Growing Profit Margin: WST's current net profit margins (16.8%) are higher than last year (16.1%).


Free Cash Flow vs Earnings Analysis


Past Earnings Growth Analysis

Earnings Trend: WST's earnings have declined by 3.8% per year over the past 5 years.

Accelerating Growth: WST's earnings growth over the past year (16.2%) exceeds its 5-year average (-3.8% per year).

Earnings vs Industry: WST earnings growth over the past year (16.2%) exceeded the Life Sciences industry 5.2%.


Return on Equity

High ROE: WST's Return on Equity (18.1%) is considered low.


Return on Assets


Return on Capital Employed


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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/12 13:39
End of Day Share Price 2026/06/12 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

West Pharmaceutical Services, Inc. is covered by 26 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Lawrence MarshBarclays
Luke SergottBarclays
Michael RyskinBofA Global Research