West Pharmaceutical Services, Inc.
HealthcareNYSE:WST · New York Stock Exchange
-$0.86 today
Vol 0.36M · Avg 0.86M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$3.2B of revenue converted into $542.7M of net income for the selected period. Gross margin is 36.2% and net margin is 16.9%, showing how much revenue survives after costs and taxes. EPS is $7.49, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.1B +6.3% | $2.9B -2.0% | $3.0B +2.3% | $2.9B +1.9% | $2.8B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $2.0B +4.2% | $1.9B +4.0% | $1.8B +4.1% | $1.7B +5.4% | $1.7B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $1.1B +10.1% | $1.0B -11.5% | $1.1B -0.5% | $1.1B -2.9% | $1.2B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 35.9% +1.2pp | 34.6% -3.7pp | 38.4% -1.1pp | 39.5% -2.0pp | 41.5% | 9.8% | 28.9% | 38.3% |
| Research & Development | $74.3M +7.5% | $69.1M +1.0% | $68.4M +16.9% | $58.5M +10.8% | $52.8M | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $393.1M +16.1% | $338.5M -4.2% | $353.4M +11.5% | $316.9M -12.4% | $361.9M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $485.9M +19.2% | $407.6M -3.4% | $421.8M +12.4% | $375.4M -9.5% | $414.7M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $124.4M -19.9% | $155.4M +13.2% | $137.3M +13.8% | $120.6M -1.4% | $122.3M | $374.2M | $1.2B | $631.8M |
| EBITDA | $723.6M -2.7% | $743.8M -11.9% | $844.1M +4.5% | $808.1M -8.1% | $879.7M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 23.5% -2.2pp | 25.7% -2.9pp | 28.6% +0.6pp | 28.0% -3.1pp | 31.1% | 5.6% | 46.3% | 42.0% |
| Operating Income | $617.4M +3.8% | $594.6M -16.4% | $710.9M -6.9% | $763.5M +0.6% | $758.7M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 20.1% -0.5pp | 20.6% -3.5pp | 24.1% -2.4pp | 26.5% -0.3pp | 26.8% | 16.6% | 24.1% | 22.0% |
| Interest Income | $17.7M -9.7% | $19.6M -30.0% | $28.0M +449.0% | $5.1M +410.0% | $1.0M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $600.0K -79.3% | $2.9M -67.0% | $8.8M +15.8% | $7.6M -10.6% | $8.5M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$2.1M -137.5% | $5.6M +16.7% | $4.8M +107.6% | -$62.9M -710.7% | $10.3M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $615.3M +2.5% | $600.2M -16.1% | $715.7M +2.2% | $700.6M -8.9% | $769.0M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 20.0% -0.7pp | 20.7% -3.5pp | 24.3% -0.0pp | 24.3% -2.9pp | 27.2% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $121.6M +13.1% | $107.5M -12.1% | $122.3M +6.6% | $114.7M +7.0% | $107.2M | $1.3B | -$1.6B | $745.2M |
| Net Income | $493.7M +0.2% | $492.7M -17.0% | $593.4M +1.3% | $585.9M -11.5% | $661.8M | $4.9B | $4.8B | $4.7B |
| Net Margin | 16.1% -1.0pp | 17.0% -3.1pp | 20.1% -0.2pp | 20.3% -3.1pp | 23.4% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $7 +1.2% | $7 -15.5% | $8 +1.4% | $8 -11.5% | $9 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $7 +1.6% | $7 -15.1% | $8 +1.9% | $8 -10.8% | $9 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $72.3M -1.0% | $73.0M -1.7% | $74.3M -0.1% | $74.4M +0.0% | $74.4M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $72.7M -1.4% | $73.7M -2.1% | $75.3M -0.7% | $75.8M -0.7% | $76.3M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Illumina, Inc.
NASDAQ:ILMN
$24.38B
Waters Corporation
NYSE:WAT
$23.17B
Quest Diagnostics Incorporated
NYSE:DGX
$22.45B
Incyte Corporation
NASDAQ:INCY
$21.78B
Labcorp Holdings Inc.
NYSE:LH
$21.65B
STERIS plc
NYSE:STE
$20.27B
Zimmer Biomet Holdings, Inc.
NYSE:ZBH
$17.13B
Hologic, Inc.
HOLX
$16.97B
Medpace Holdings, Inc.
NASDAQ:MEDP
$13.42B
The Cooper Companies, Inc.
NASDAQ:COO
$13.23B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does WST generate?
West Pharmaceutical Services, Inc. (WST) reported $3.07B of revenue in fiscal 2025.
Is WST profitable?
West Pharmaceutical Services, Inc. (WST) reported $493.70M of net income, with a net margin of 16.1%.
Explore More
Continue the stock analysis
Jump to another research area for this company.