WEST PHARMACEUTICAL SERVICES INC
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | 203 | 6.0 |
| Stockholders' equity | 3,176 | 94.0 |
| Total capitalization | 3,379 | 100.0 |
70,375,762 shares outstanding at 20 July 2026 (cover page of the 10-Q filed 23 July 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Long-term debt, incl. current maturities | 203 |
| Long-term debt, noncurrent | 203 |
| Current maturities | 0 |
CAPITAL STOCK 12/31/25
| Common shares authorized | 200,000,000 |
| Common shares issued | 75,300,000 |
| Treasury shares | 3,300,000 |
| Par or stated value per share ($) | 0.25 |
| Preferred stock ($ millions) | 0 |
| Outstanding at 7/20/26 | 70,375,762 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | 0.86 | 12.7 |
| 2024 | 0.82 | 12.3 |
| 2023 | 0.78 | 9.9 |
| 2022 | 0.74 | 9.6 |
| 2021 | 0.70 | 8.1 |
HISTORY AND BUSINESS
HISTORY: Incorporated in Pennsylvania. Formerly known as WEST CO INC (to 11 February 1999).
BUSINESS: Classified by the SEC under Standard Industrial Classification 3841, Surgical & Medical Instruments & Apparatus. Large accelerated filer. Principal executive office: 530 Herman O. West Drive, Exton, PA 19341. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Revenues | 3,074 | 2,893 | 2,950 |
| Cost of revenues | 1,970 | 1,895 | 1,821 |
| Gross profit | 1,104 | 998 | 1,129 |
| Research and development | 74 | 69 | 68 |
| Selling, general and administrative | 394 | 338 | 353 |
| Depreciation and amortization | 171 | 155 | 137 |
| Operating income | 585 | 570 | 676 |
| Interest expense | 0 | 3 | 9 |
| Income before income taxes | 601 | 586 | 698 |
| Income taxes | 122 | 108 | 122 |
| Net income | 494 | 493 | 593 |
| Earned per share, diluted ($) | 6.79 | 6.69 | 7.88 |
| Dividends per share ($) | 0.86 | 0.82 | 0.78 |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Cash and equivalents | 791 | 485 |
| Receivables, net | 574 | 552 |
| Inventories | 444 | 377 |
| Total current assets | 1,978 | 1,538 |
| Property, plant and equipment, net | 1,726 | 1,582 |
| Goodwill | 110 | 106 |
| Total assets | 4,270 | 3,643 |
| Total current liabilities | 655 | 550 |
| Long-term debt | 203 | 203 |
| Total liabilities | 1,094 | 961 |
| Stockholders' equity | 3,176 | 2,682 |
| Total liabilities and equity | 4,270 | 3,643 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 3,074 | 585 | 494 | 16.1 | 6.79 | 0.86 | 755 | 286 | 469 | 4,270 | 1,094 | 203 | 3,176 | 15.5 | 0.06 |
| 12/31/24 | 2,893 | 570 | 493 | 17.0 | 6.69 | 0.82 | 653 | 377 | 276 | 3,643 | 961 | 203 | 2,682 | 18.4 | 0.08 |
| 12/31/23 | 2,950 | 676 | 593 | 20.1 | 7.88 | 0.78 | 776 | 362 | 414 | 3,830 | 948 | 207 | 2,881 | 20.6 | 0.07 |
| 12/31/22 | 2,887 | 734 | 586 | 20.3 | 7.73 | 0.74 | 724 | 285 | 439 | 3,617 | 932 | 209 | 2,685 | 21.8 | 0.08 |
| 12/31/21 | 2,832 | 752 | 662 | 23.4 | 8.67 | 0.70 | 584 | 253 | 331 | 3,314 | 978 | 253 | 2,335 | 28.3 | 0.11 |
| 12/31/20 | 2,147 | 407 | 346 | 16.1 | 4.57 | 0.66 | 472 | 174 | 298 | 2,794 | 939 | 255 | 1,854 | 18.7 | 0.14 |
| 12/31/19 | 1,840 | 297 | 242 | 13.1 | 3.21 | 0.62 | 367 | 126 | 241 | 2,341 | 768 | 257 | 1,573 | 15.4 | 0.16 |
| 12/31/18 | 1,717 | 240 | 207 | 12.0 | 2.74 | 0.58 | 289 | 105 | 184 | 1,979 | 583 | 196 | 1,396 | 14.8 | 0.14 |
| 12/31/17 | 1,599 | 226 | 151 | 9.4 | 1.99 | 0.54 | 263 | 131 | 132 | 1,863 | 583 | 197 | 1,280 | 11.8 | 0.15 |
| 12/31/16 | 1,509 | 195 | 144 | 9.5 | 1.91 | 0.50 | 219 | 170 | 49 | 1,717 | 599 | 229 | 1,118 | 12.9 | 0.20 |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
WEST PHARMACEUTICAL SERVICES INC
CIK 105770 · EIN 23-1210010
PRINCIPAL OFFICE:
530 Herman O. West Drive, Exton, PA 19341
Tel.: 6105942900
INCORPORATED:
Pennsylvania
INDUSTRY (SEC SIC CODE):
3841 · Surgical & Medical Instruments & Apparatus
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 17 February 2026
FORMER NAMES:
WEST CO INC
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/17/26) · 10-K FY2024 (filed 2/18/25) · 10-K FY2023 (filed 2/20/24) · 10-K FY2022 (filed 2/21/23) · 10-K FY2021 (filed 2/22/22) · 10-K FY2020 (filed 2/23/21) · 10-K FY2019 (filed 2/24/20) · 10-K FY2018 (filed 2/28/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.