West Pharmaceutical Services Inc Stock Research

Market Summary

USD334.30+2.45

Delayed

0.74%

WST Alerts

2 major insider sales recently.

WST Stock Price

WST RSI Chart

WST Valuation

Market Cap

24.8B

Price/Earnings (Trailing)

42.28

Price/Sales (Trailing)

8.58

EV/EBITDA

29.93

Price/Free Cashflow

56.38

WST Price/Sales (Trailing)

WST Profitability

EBT Margin

23.55%

Return on Equity

21.82%

Return on Assets

16.2%

Free Cashflow Yield

1.77%

WST Fundamentals

WST Revenue

Revenue (TTM)

2.9B

Revenue Y/Y

-3.02%

Revenue Q/Q

3.17%

WST Earnings

Earnings (TTM)

585.9M

Earnings Y/Y

-30.26%

Earnings Q/Q

-14.59%

Price Action

52 Week Range

206.19424.00

(Low)(High)

Last 7 days

-0.6%

Last 30 days

9.4%

Last 90 days

42.2%

Trailing 12 Months

-18.1%

WST Financial Health

Current Ratio

3.7

Debt/Equity

0.08

Debt/Cashflow

3.46

WST Investor Care

Dividend Yield

0.22%

Dividend/Share (TTM)

0.74

Buy Backs (1Y)

0.13%

Diluted EPS (TTM)

7.73

Peers (Alternatives to West Pharmaceutical Services)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
DHR	180.7B	31.5B	-0.78%	-13.30%	25.07	5.74	6.85%	12.06%
ABT	171.9B	43.7B	-4.52%	-15.68%	24.79	3.94	1.34%	-1.95%
MDT	105.6B	30.8B	-6.73%	-24.80%	25.98	3.43	-3.19%	-17.38%
IDXX	40.2B	3.4B	1.94%	-10.16%	59.26	11.95	4.73%	-8.83%
WST	24.8B	2.9B	9.41%	-18.15%	42.28	8.58	1.95%	-11.47%
MID-CAP
PEN	10.5B	847.1M	5.10%	33.54%	-5.2K	12.36	13.32%	-137.89%
LNTH	5.6B	935.1M	39.79%	59.89%	199.63	5.99	119.91%	139.38%
NEOG	3.9B	630.7M	-5.79%	-41.33%	-242.52	6.24	25.40%	-128.45%
QDEL	3.7B	-	-3.05%	-21.16%	3.27	1.42	-	-
SMALL-CAP
VIVO	1.5B	301.6M	2.29%	56.91%	-550.1	4.93	-3.75%	-104.51%
CYRX	1.1B	237.3M	15.32%	-32.47%	-24.23	4.63	6.59%	84.02%
HSKA	958.4M	257.3M	13.67%	-32.65%	-48.19	3.72	1.41%	-1632.49%
AWH	51.1M	7.9M	-14.38%	-62.64%	-1.65	6.49	23.02%	-7.81%
QTNT	766.7K	37.4M	-50.00%	-99.61%	-0.01	0.02	-2.49%	10.49%

Financials for West Pharmaceutical Services

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-0.8%	2,887	2,909	2,929	2,881	2,832
Gross Profit	-3.3%	1,136	1,175	1,195	1,189	1,176
S&GA Expenses	-3.7%	317	329	355	366	363
R&D Expenses	3.9%	59.00	56.00	56.00	55.00	53.00
EBITDA	-6.5%	805	861	906	893	-
EBITDA Margin	-5.8%	0.28*	0.30*	0.31*	0.31*	-
Earnings Before Taxes	-7.3%	680	733	778	762	749
EBT Margin	-6.5%	0.24*	0.25*	0.27*	0.26*	-
Interest Expenses	-10.2%	8.00	9.00	8.00	9.00	8.00
Net Income	-7.1%	586	631	686	684	662
Net Income Margin	-6.4%	0.20*	0.22*	0.23*	0.24*	-
Free Cahsflow	13.3%	439	388	402	382	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	9.0%	3,617	3,317	3,362	3,295	3,314
Current Assets	10.7%	1,920	1,734	1,771	1,691	1,742
Cash Equivalents	22.7%	894	729	719	668	763
Inventory	0.4%	415	413	412	417	378
Net PPE	8.4%	1,158	1,069	1,077	1,066	1,058
Goodwill	3.2%	107	104	107	109	110
Liabilities	10.2%	932	846	937	969	978
Current Liabilities	13.6%	519	457	565	585	594
Long Term Debt	-16.9%	209	252	253	253	-
LT Debt, Current	-95.0%	2.00	44.00	44.00	44.00	-
LT Debt, Non Current	-0.2%	207	207	208	208	209
Shareholder's Equity	8.7%	2,685	2,471	2,424	2,326	2,335
Retained Earnings	2.6%	2,988	2,913	2,793	2,617	2,457
Additional Paid-In Capital	0.7%	232	231	225	220	249
Accumulated Depreciation	5.5%	1,228	1,164	1,169	1,171	1,158
Shares Outstanding	0.1%	74.00	74.00	74.00	74.00	74.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	10.7%	724	654	675	647	584
Share Based Compensation	-12.2%	24.00	27.00	32.00	37.00	38.00
Cashflow From Investing	-6.4%	-288	-270	-277	-266	-253
Cashflow From Financing	-1.1%	-293	-290	-220	-184	-168
Dividend Payments	1.5%	54.00	53.00	52.00	52.00	51.00
Buy Backs	0.0%	203	203	176	147	137

Risks for WST

What is the probability of a big loss on WST?

58.1%

Probability that West Pharmaceutical Services stock will be more than 20% underwater in next one year

18.5%

Probability that West Pharmaceutical Services stock will be more than 30% underwater in next one year.

10.8%

Probability that West Pharmaceutical Services stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does WST drawdown profile look like?

Y-axis is the maximum loss one would have experienced if West Pharmaceutical Services was unfortunately bought at previous high price.

Drawdowns

Returns for WST

Cumulative Returns on WST

27.1%

10-Year Cumulative Returns

26.8%

7-Year Cumulative Returns

31.6%

5-Year Cumulative Returns

35.3%

3-Year Cumulative Returns

What are the long-term rolling returns for WST?

FIve years rolling returns for West Pharmaceutical Services.

Annualized Returns

Which funds bought or sold WST recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	sold off	-100	-228,000	-	-%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-82.81	-49,141,200	9,669,820	0.01%
2023-03-10	MATHER GROUP, LLC.	sold off	-100	-249,000	-	-%
2023-03-10	BAILLIE GIFFORD & CO	unchanged	-	-586	9,414	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-19.43	-241,000	804,000	-%
2023-02-28	Voya Investment Management LLC	added	0.26	-477,294	11,145,700	0.02%
2023-02-24	NATIXIS	added	96.14	1,058,190	2,270,190	0.01%
2023-02-24	National Pension Service	added	10.28	876,551	27,515,900	0.05%
2023-02-24	SRS Capital Advisors, Inc.	new	-	99,082	99,082	0.01%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	unchanged	-	-73,000	1,597,000	0.02%

Latest Funds Activity

Are funds buying WST calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own WST

No. of Funds

WST Alerts

2 major insider sales recently.

West Pharmaceutical Services News

Schedule 13G FIlings of West Pharmaceutical Services

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	price t rowe associates inc /md/	3.1%	2,301,161	SC 13G/A
Feb 09, 2023	vanguard group inc	12.14%	8,988,409	SC 13G/A
Jan 24, 2023	blackrock inc.	11.0%	8,148,624	SC 13G
Feb 14, 2022	price t rowe associates inc /md/	8.4%	6,241,901	SC 13G/A
Feb 04, 2022	franklin resources inc	3.8%	2,848,869	SC 13G/A
Jan 27, 2022	blackrock inc.	10.9%	8,094,288	SC 13G/A
Jan 25, 2022	blackrock inc.	10.9%	8,094,288	SC 13G/A
Apr 12, 2021	blackrock inc.	10.1%	7,467,809	SC 13G/A
Feb 16, 2021	price t rowe associates inc /md/	6.2%	4,624,247	SC 13G/A
Feb 10, 2021	vanguard group inc	11.21%	8,289,370	SC 13G/A

WST Fair Value

West Pharmaceutical Services fair value in different scenarios

The table shows the Fair Value estimates for West Pharmaceutical Services for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	122.88 -63.24%	150.44 -55.00%	214.70 -35.78%	298.78 -10.63%	403.03 20.56%
Current Inflation	113.04 -66.19%	136.41 -59.20%	190.51 -43.01%	260.94 -21.94%	348.15 4.14%
Very High Inflation	100.93 -69.81%	119.48 -64.26%	162.06 -51.52%	217.19 -35.03%	285.37 -14.64%

Historical West Pharmaceutical Services Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of West Pharmaceutical Services

View All Filings

Date Filed	Form Type	Document
Mar 22, 2023	4	Insider Trading
Mar 22, 2023	4	Insider Trading
Mar 15, 2023	ARS	ARS
Mar 15, 2023	DEF 14A	DEF 14A
Mar 15, 2023	DEFA14A	DEFA14A
Mar 09, 2023	4	Insider Trading
Feb 23, 2023	4	Insider Trading
Feb 23, 2023	4	Insider Trading
Feb 23, 2023	4	Insider Trading
Feb 23, 2023	4	Insider Trading

Latest Insider Trading transactions for WST

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-09	Abraham Silji	sold	-483,850	322	-1,500	svp, chief technology officer
2023-03-07	Green Eric Mark	sold	-14,183,500	322	-44,000	president & ceo
2023-03-07	Green Eric Mark	acquired	2,869,000	57.38	50,000	president & ceo
2023-03-01	Birkett Bernard	sold	-13,686	318	-43.00	sr vp, cfo & coo
2023-03-01	Abraham Silji	acquired	74,477	318	234	svp, chief technology officer
2023-02-21	Lai Quintin J	acquired	347,775	306	1,134	vp corp development & strategy
2023-02-21	Abraham Silji	acquired	697,390	306	2,274	chief digital & trans officer
2023-02-21	Witherspoon Charles	acquired	124,819	306	407	vp & treasurer
2023-02-21	Green Eric Mark	acquired	4,533,650	306	14,783	president & ceo
2023-02-21	Birkett Bernard	acquired	1,108,340	306	3,614	sr vp, cfo & coo

About West Pharmaceutical Services

Eric M. Green

www.westpharma.com

10100

West Pharmaceutical Services, Inc. designs, manufactures, and sells containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Proprietary Products and Contract-Manufactured Products. The Proprietary Products segment offers stoppers and seals for injectable packaging systems; syringe and cartridge components, including custom solutions for the needs of injectable drug applications, as well as administration systems that enhance the safe delivery of drugs through advanced reconstitution, mixing, and transfer technologies; and films, coatings, washing, and vision inspection and sterilization processes and services to enhance the quality of packaging components. It also provides drug containment solutions, including Crystal Zenith, a cyclic olefin polymer in the form of vials, syringes, and cartridges; and self-injection devices, as well as a range of integrated solutions, including analytical lab services, pre-approval primary packaging support and engineering development, regulatory expertise, and after-sales technical support. This segment serves biologic, generic, and pharmaceutical drug companies. The Contract-Manufactured Products segment is involved in the design, manufacture, and automated assembly of devices used in surgical, diagnostic, ophthalmic, injectable, and other drug delivery systems, as well as consumer products. It serves pharmaceutical, diagnostic, and medical device companies. The company distributes its products through its sales force and distribution network, as well as contract sales agents and regional distributors. West Pharmaceutical Services, Inc. was incorporated in 1923 and is headquartered in Exton, Pennsylvania.

WST Income Statement

2022-12-31

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Net sales	$ 2,886.9	$ 2,831.6	$ 2,146.9
Cost of goods and services sold	1,750.7	1,655.8	1,379.1
Gross profit	1,136.2	1,175.8	767.8
Research and development	58.5	52.8	46.9
Selling, general and administrative expenses	316.9	362.8	302.0
Other expense (income) (Note 16)	26.8	7.9	12.0
Operating profit	734.0	752.3	406.9
Interest expense	7.9	8.2	8.2
Interest income	(5.1)	(1.0)	(1.4)
Other nonoperating expense (income)	51.3	(3.8)	(1.2)
Income before income taxes and equity in net income of affiliated companies	679.9	748.9	401.3
Income tax expense	114.7	107.2	72.5
Equity in net income of affiliated companies	(20.7)	(20.1)	(17.4)
Net income	$ 585.9	$ 661.8	$ 346.2
Net income per share:
Basic (in dollars per share)	$ 7.87	$ 8.89	$ 4.68
Diluted (in dollars per share)	$ 7.73	$ 8.67	$ 4.57
Weighted average shares outstanding:
Basic (in shares)	74.4	74.4	73.9
Diluted (in shares)	75.8	76.3	75.8

WST Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 894.3	$ 762.6
Accounts receivable, net	507.4	489.0
Inventories	414.8	378.4
Other current assets	103.0	112.0
Total current assets	1,919.5	1,742.0
Property, plant and equipment	2,386.6	2,215.0
Less: accumulated depreciation and amortization	1,228.3	1,157.5
Property, plant and equipment, net	1,158.3	1,057.5
Operating lease right-of-use assets	104.4	69.3
Investments in affiliated companies	204.9	207.7
Goodwill	107.3	109.9
Intangible assets, net	18.4	23.0
Deferred income taxes	65.6	48.5
Pension and other postretirement benefits	0.3	16.7
Other noncurrent assets	38.1	39.2
Total Assets	3,616.8	3,313.8
Current liabilities:
Notes payable and other current debt	2.2	44.2
Accounts payable	215.4	232.2
Pension and other postretirement benefits	2.1	2.4
Accrued salaries, wages and benefits	76.8	116.3
Income taxes payable	24.8	26.3
Operating lease liabilities	16.0	9.3
Other current liabilities	181.7	163.4
Total current liabilities	519.0	594.1
Long-term debt	206.7	208.8
Deferred income taxes	14.3	4.9
Pension and other postretirement benefits	28.2	40.5
Operating lease liabilities	93.0	63.0
Deferred compensation benefits	19.1	28.9
Other long-term liabilities	51.6	38.2
Total Liabilities	931.9	978.4
Commitments and contingencies (Note 18)
Equity:
Preferred stock, 3.0 million shares authorized; 0.0 shares issued and outstanding in 2022 and 2021	0.0	0.0
Common stock, par value $0.25 per share; 200 million shares authorized; shares issued: 75.3 million in 2022 and 2021; shares outstanding: 74.1 million and 74.2 million in 2022 and 2021	18.8	18.8
Capital in excess of par value	232.2	249.0
Retained earnings	2,987.8	2,456.7
Accumulated other comprehensive loss	(183.0)	(159.6)
Treasury stock, at cost (1.2 million and 1.1 million shares in 2022 and 2021)	(370.9)	(229.5)
Total Equity	2,684.9	2,335.4
Total Liabilities and Equity	$ 3,616.8	$ 3,313.8