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West Pharmaceutical Services, Inc. is a Life Sciences Tools & Services company listed on NEW YORK STOCK EXCHANGE, INC..
West Pharmaceutical Services, Inc. is a designer and manufacturer of injectable pharmaceutical packaging and delivery systems. Founded in 1923 by Herman O. West and J.R. Wike of Philadelphia, the company is headquartered in Exton, Pennsylvania. In its early years of development, West produced rubber components for packaging injectable drugs, providing a sterile environment for the producers of penicillin and insulin.
via Wikipedia →Annual figures from the company's own SEC filings. Tap any number to open the filing it came from.
| Fiscal year ending | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
| RevenueGrowth = this year ÷ prior year − 1 | $3.1B+6.3% | $2.9B-1.9% | $2.9B+2.2% | $2.9B+2.0% |
| Operating incomeMargin = operating income ÷ revenue | $585M19.0% margin | $570M19.7% margin | $676M22.9% margin | $734M25.4% margin |
| Net incomeMargin = net income ÷ revenue | $494M16.1% margin | $493M17.0% margin | $593M20.1% margin | $586M20.3% margin |
| Operating cash flowCash the business generated, vs net income above | $755M | $653M | $777M | $724M |
| Cash vs long-term debtCash − long-term debt. Excludes short-term borrowings and leases | — | $282M$485M cash · $203M debt | $781M$854M cash · $73M debt | $688M$894M cash · $207M debt |
| Shares (weighted avg.)Change = this year ÷ prior year − 1 | 72M-1.0% | 73M-1.7% | 74M-0.1% | 74M+0.0% |
Automatic checks on the figures above. A flag is a pattern to investigate, not a finding of wrongdoing, and each one lists ordinary explanations for it.
Operating margin fell from 22.9% in Dec 2023 to 19.7% in Dec 2024 and 19.0% in Dec 2025.
| Operating income | Dec 2025 | $585M |
| Revenue | Dec 2025 | $3.1B |
| Operating income | Dec 2024 | $570M |
| Revenue | Dec 2024 | $2.9B |
| Operating income | Dec 2023 | $676M |
| Revenue | Dec 2023 | $2.9B |
How it's calculated: Operating margin = operating income ÷ revenue, for each year.
Rule: Operating margin lower in each of the last two years, down 3 percentage points or more in total.
Why it can matter: A margin that keeps shrinking can mean costs are rising faster than prices, or that the company is losing pricing power.
Common innocent explanations: Deliberate investment in growth, a shift in the mix of products, or one-off charges that depress a single year.
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Source: SEC EDGAR annual reports (Form 10-K), latest filed 2026-02-17. If a company later restates a year, the most recent filing is used. Dashes mean the company did not report that line in a form we could read. For information only, not investment advice.
Recent notices WSThas filed with the SEC (Form 8-K). Headings are the SEC's own item titles; open the filing to read what the company said.
A filing appearing here is not a sign of a problem: most are routine. We highlight a few kinds, such as auditor changes, listing notices and leadership changes, because they are worth reading. For information only, not investment advice.