West Pharmaceutical Services, Inc.

West Pharmaceutical Services, Inc.

WST

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Market Cap$23.17B
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P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
West Pharmaceutical Services, Inc.West Pharmaceutical Services, Inc.43.50.27%18%7.60.1

Earnings Call Q1 2026

April 23, 2026 - AI Summary

Strong Q1 performance; growth and profitability beat - Q1 revenues: $845M, +21% reported and +15% organic YoY, ahead of expectations. - Adjusted EPS: $2.13, +47% YoY and ~45% above the prior guidance midpoint. - Adjusted operating margin: 21.4%, +350 bps YoY, driven by mix (HVP components), price contribution, and operating leverage. - Cash flow / capital: Operating cash flow $90M (down YoY from AR/bonus, but ahead of expectations); capex $43M (down from $71M YoY). Full-year capex outlook reaffirmed $250M–$275M.
Raised full-year 2026 guidance (major positive surprise) - Revenue (organic): now 7%–9% (up from prior 5%–7%). - Adjusted EPS: now $8.40–$8.75 (up from prior outlook; implies +15% to +20% YoY). - Full-year revenue: $3.295B–$3.35B (midpoint +$78M vs prior guide). - Q2 outlook: revenue $830M–$850M (organic +7.0% to +9.6%); adjusted EPS $2.05–$2.12.
Key demand drivers by segment (especially HVP components) - HVP components (48% of company sales): Q1 +22.6% organic (reported $409M). Major drivers: - GLP-1 HVP components: contributed ~10% of total company sales, GLP-1 elastomer growth continues; orals are early but expanding the market (company expects long-term growth for both injectable + oral GLP-1). - Non-GLP-1 HVP components: high teens growth; biologics / biosimilars and Annex 1 upgrades are major catalysts. - HVP delivery devices (15% of sales): Q1 +27.5% organic (driven by SmartDose 3.5 ramp ahead of expected midyear close; non-SmartDose also growing double digits). - Standard products (19%): roughly flat ( +0.5% organic ); described as a funnel into HVP components. - West Vantage / Contract Manufacturing (18%): Q1 +6.2% organic; Dublin site for more profitable drug-handling capabilities is now operational.

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$341.67

Target Price by Analysts

1.6% upsideWest Pharmaceutical Services Target Price DetailsTarget Price
$98.62

Current Fair Value

70.7% downside

Overvalued by 70.7% based on the discounted cash flow analysis.

Share Statistics

Market cap$23.17 Billion
Enterprise Value$23.05 Billion
Dividend Yield$0.87 (0.27%)
Earnings per Share$6.83
Beta1.18
Outstanding Shares72,000,000

Return

Return on Equity18.15%ROE
Return on Assets13.21%
Return on Invested Capital19.12%

Valuation & Multiples

P/E Ratio43.52P/E Ratio
PEG79.76PEG
Price to Sales7.65Price to Sales
Price to Book Ratio8.2Price to Book Ratio
Enterprise Value to Revenue7.16
Enterprise Value to EBIT35.09
Enterprise Value to Net Income42
Total Debt to Enterprise0.02
Debt to Equity0.13Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
April 23, 2026
EPS Estimate
$1.68
Average shareholder expectation
Revenue Estimate
$780.31 M
Average shareholder expectation

Next Earnings Call

Expected Date
July 23, 2026
EPS Estimate
$2.08
Average shareholder expectation
Revenue Estimate
$838.32 M
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio2.2919 168.06%
Total Calls216,200 52.79%
Total Puts495,500 472.83%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %98.31% 2.22%
Total Invested$17.76B 6.84%
Investors Holding766 55.00%

ESG Score

No data

About West Pharmaceutical Services, Inc.

CEO: Eric Green

Relevant Senate Committees

Joint Committee on Taxation

This committee provides the technical analysis and revenue estimates for all tax legislation, directly influencing corporate tax structures and financial policies that impact West Pharmaceutical Services' profitability and investment decisions.

Finance

This committee controls taxation, trade, and entitlement spending (e.g., Medicare pricing). Its decisions directly impact WST's corporate profitability, international supply chains, and the revenue of its pharmaceutical customers through drug pricing policies.

Appropriations

This committee's subcommittees allocate discretionary federal spending, including for healthcare programs and scientific research, directly affecting the funding and market for WST's pharmaceutical customers and the broader healthcare industry.

Health, Education, Labor, and Pensions

This committee directly regulates the FDA and NIH, whose drug approval processes and research funding are paramount to the pharmaceutical and biotech sectors (WST's customers), directly influencing demand for WST's drug delivery components.