“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 ↗
West Pharmaceutical Services, Inc.
WST
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.
- Revenue increased 21.0% versus the comparable filing period.
- 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.
Research brief
The story so far
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.
- 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.
No thresholded adverse filing evidence is available yet.
- WST's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- 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.
- Capital investment and capacity has repeated adverse evidence across 5 filings.
- 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.
Price as of Sep 11, 2026
344.62Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“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 ↗
“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 ↗
“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.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
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.
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.