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West Pharmaceutical Services, Inc.

WST

Healthcare · 344.62 +0.1% today

Isolated · not yet confirmedMarket checked 11 Sept, 15:55 GMT-4

Market read

West Pharmaceutical Services, Inc.'s current read is isolated; its market group is not confirming.

The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.

What changed
  • Revenue increased 21.0% versus the comparable filing period.
Company+0.1% todayVolume comparison unavailable
Market group0 of 1 activeInjectable Drug Delivery · unavailable
Disclosed network0 of 1 confirmingNo filing-linked name is confirming now
What would change this read
  • WST's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if WST's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Healthcare · Medical Instruments & Supplies

The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.

Evidence that supports
  • Revenue increased 21.0% versus the comparable filing period.
  • Operating margin improved 5.6 percentage points.
  • Net income increased 54.6% versus the comparable filing period.
Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • WST's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 12, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations602
Usable filing statements89
Verified relationships2
Evidence supporting the case
  • Latest annual revenue changed +6.3% year over year.
  • Operating cash flow covered net income at 1.53x in the latest annual period.
  • Pricing and mix has repeated favorable evidence across 4 filings.
Evidence challenging the case
  • Capital investment and capacity has repeated adverse evidence across 5 filings.
Questions before a position
  • P/E is 139% above the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 492% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 11, 2026

344.62
6m+49.1%12m+35.0%24m+16.0%
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$2.8B+31.9%$8.67+0.7%
2022-12-31$2.9B+2.0%$7.73-0.7%
2023-12-31$2.9B+2.2%$7.88-0.7%
2024-12-31$2.9B-1.9%$6.69-2.1%
2025-12-31$3.1B+6.3%$6.79-1.4%

What management says matters

Persistent and emerging business drivers

Capital investment and capacitynegative · 5 filings
The decrease in cash and cash equivalents was due to share repurchases and capital expenditures during the six months ended June 30, 2026, partially offset by cash from operations.
10-Q · Jul 23, 2026
Foreign exchangemixed · 4 filings
West Vantage - West Vantage operating profit increased by $2.1 million , or 15.6%, for the three months ended March 31, 2026, as compared to the same period in 2025, including a favorable foreign currency translation impact of $1.0 million , due to the factor…
10-Q · Apr 23, 2026
Pricing and mixmixed · 4 filings
West Vantage gross profit margin decreased by 3.3 percentage points for the three months ended June 30, 2026, as compared to the same period in 2025, due to inefficiencies associated with production downtime related to the Company’s May 2026 cyber incident, a…
10-Q · Jul 23, 2026
Restructuring and cost reductionsnegative · 3 filings
The decrease in restructuring and other charges was partially offset by the Company recording cost-method investment impairment charges of $3.5 million during the six months ended June 30, 2026 that did not occur in the same period in 2025.
10-Q · Jul 23, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 8.1× · EV/sales 8.0×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

344.62+0.1% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for WST. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment · baseline

Fundamentals strengthened in the latest filing

10-Q filed 2026-04-23 against the comparable filing from 2025-04-24.

constructive
OperationsconstructiveEvidence score +4
liquidityneutralEvidence score 0
valuationmixed

What improved

  • Revenue increased 21.0% versus the comparable filing period.
  • Operating margin improved 5.6 percentage points.
  • Net income increased 54.6% versus the comparable filing period.

What weakened

No thresholded deterioration was identified.

Filing receipts

West Vantage gross profit margin decreased by 0.6 margin points for the three months ended March 31, 2026, as compared to the same period in 2025, due primarily to increased production costs, partially offset by sales price increases.

Proprietary Products - Proprietary Products operating profit increased by $58.6 million, or 44.9%, for the three months ended March 31, 2026, as compared to the same period in 2025, including a favorable foreign currency translation impa ct of $12.4 million , due to the factors described above, most no tably increased customer demand, primarily of high value components, and sales price increases.

West Vantage - West Vantage operating profit increased by $2.1 million , or 15.6%, for the three months ended March 31, 2026, as compared to the same period in 2025, including a favorable foreign currency translation impact of $1.0 million , due to the factors described abov e, most notably sales price increases and foreign exchange gains, partially offset by increased production costs.

Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.

Business ecosystem

The relationships behind WST

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

ABBVAbbVie Inc.customerFeb 17, 2026

As a recent example, the Company entered into a definitive agreement to sell all manufacturing and supply rights for the SmartDose® 3.5mL On-Body Delivery System and associated facilities to AbbVie.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

WST is currently a Leader in the organic co-movement group Injectable Drug Delivery. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for WST; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.