West Pharmaceutical Services, Inc. (WST) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 844.9M | 805M | 804.3M | 766.2M | 698.2M | 748.5M | 746.9M | 702M | 695.3M | 732.1M | 747.5M | 754.2M | 715.9M | 708.4M | 686.4M | 771.6M | 719.7M | 729M | 706.6M | 724.1M |
| Revenue Growth % | 21.01% | 7.55% | 7.69% | 9.15% | 0.42% | 2.24% | -0.08% | -6.92% | -2.88% | 3.35% | 8.9% | -2.26% | -0.53% | -2.83% | -2.86% | 6.56% | 7.26% | 25.62% | 28.87% | 37.43% |
| Cost of Goods Sold | 548.5M | 501.1M | 510.8M | 493M | 465.5M | 474.1M | 481.7M | 470.7M | 464M | 453.1M | 458M | 462M | 445.3M | 445M | 418.9M | 451.8M | 434.9M | 436.4M | 418.1M | 407.7M |
| COGS % of Revenue | 64.92% | 62.25% | 63.51% | 64.34% | 66.67% | 63.34% | 64.49% | 67.05% | 66.73% | 61.89% | 61.27% | 61.26% | 62.2% | 62.82% | 61.03% | 58.55% | 60.43% | 59.86% | 59.17% | 56.3% |
| Gross Profit | 296.4M | 303.9M | 293.5M | 273.2M | 232.7M | 274.4M | 265.2M | 231.3M | 231.3M | 279M | 289.5M | 292.2M | 270.6M | 263.4M | 267.5M | 319.8M | 284.8M | 292.6M | 288.5M | 316.4M |
| Gross Margin % | 35.08% | 37.75% | 36.49% | 35.66% | 33.33% | 36.66% | 35.51% | 32.95% | 33.27% | 38.11% | 38.73% | 38.74% | 37.8% | 37.18% | 38.97% | 41.45% | 39.57% | 40.14% | 40.83% | 43.7% |
| Gross Profit Growth % | 27.37% | 10.75% | 10.67% | 18.12% | 0.61% | -1.65% | -8.39% | -20.84% | -14.52% | 5.92% | 8.22% | -8.63% | -4.99% | -9.98% | -7.28% | 1.07% | 4.44% | 38.35% | 51.13% | 62.67% |
| Operating Expenses | 119.3M | 146.8M | 119.8M | 115M | 104.3M | 103.8M | 97.4M | 100.5M | 104.3M | 108.4M | 98.4M | 104.9M | 103.1M | 101.6M | 79.9M | 95.9M | 98M | 111.7M | 105M | 106.5M |
| OpEx % of Revenue | 14.12% | 18.24% | 14.89% | 15.01% | 14.94% | 13.87% | 13.04% | 14.32% | 15% | 14.81% | 13.16% | 13.91% | 14.4% | 14.34% | 11.64% | 12.43% | 13.62% | 15.32% | 14.86% | 14.71% |
| Selling, General & Admin | 99.5M | 106.5M | 102.7M | 95.9M | 88M | 85.3M | 81.9M | 83M | 86.7M | 90M | 89M | 88.4M | 86M | 85.7M | 66.3M | 81.5M | 83.4M | 98M | 91.9M | 92.7M |
| SG&A % of Revenue | 11.78% | 13.23% | 12.77% | 12.52% | 12.6% | 11.4% | 10.97% | 11.82% | 12.47% | 12.29% | 11.91% | 11.72% | 12.01% | 12.1% | 9.66% | 10.56% | 11.59% | 13.44% | 13.01% | 12.8% |
| Research & Development | 15.8M | 21.8M | 17.1M | 19.1M | 16.3M | 18.5M | 15.5M | 17.5M | 17.6M | 18.4M | 16.4M | 16.5M | 17.1M | 15.9M | 13.6M | 14.4M | 14.6M | 13.7M | 13.1M | 13.8M |
| R&D % of Revenue | 1.87% | 2.71% | 2.13% | 2.49% | 2.33% | 2.47% | 2.08% | 2.49% | 2.53% | 2.51% | 2.19% | 2.19% | 2.39% | 2.24% | 1.98% | 1.87% | 2.03% | 1.88% | 1.85% | 1.91% |
| Other Operating Expenses | 1000K | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 177.1M | 156.6M | 173.7M | 158.2M | 128.4M | 170.6M | 167.8M | 130.8M | 127M | 170.6M | 191.1M | 187.3M | 167.5M | 161.8M | 187.6M | 223.9M | 186.8M | 180.9M | 183.5M | 209.9M |
| Operating Margin % | 20.96% | 19.45% | 21.6% | 20.65% | 18.39% | 22.79% | 22.47% | 18.63% | 18.27% | 23.3% | 25.57% | 24.83% | 23.4% | 22.84% | 27.33% | 29.02% | 25.96% | 24.81% | 25.97% | 28.99% |
| Operating Income Growth % | 37.93% | -8.21% | 3.52% | 20.95% | 1.1% | 0% | -12.19% | -30.17% | -24.18% | 5.44% | 1.87% | -16.35% | -10.33% | -10.56% | 2.23% | 6.67% | 3.61% | 47.91% | 71.98% | 93.99% |
| EBITDA | 173.9M | 203.6M | 216.7M | 199.6M | 168.4M | 211.3M | 208M | 169.7M | 162.6M | 206.5M | 226.8M | 221.4M | 199.1M | 192.9M | 217.4M | 254M | 216.4M | 215.3M | 213.5M | 238.7M |
| EBITDA Margin % | 20.58% | 25.29% | 26.94% | 26.05% | 24.12% | 28.23% | 27.85% | 24.17% | 23.39% | 28.21% | 30.34% | 29.36% | 27.81% | 27.23% | 31.67% | 32.92% | 30.07% | 29.53% | 30.22% | 32.97% |
| EBITDA Growth % | 3.27% | -3.64% | 4.18% | 17.62% | 3.57% | 2.32% | -8.29% | -23.35% | -18.33% | 7.05% | 4.32% | -12.83% | -7.99% | -10.4% | 1.83% | 6.41% | 3.34% | 42.77% | 53.27% | 77.6% |
| D&A (Non-Cash Add-back) | 0 | 47M | 43M | 41.4M | 40M | 40.7M | 40.2M | 38.9M | 35.6M | 35.9M | 35.7M | 34.1M | 31.6M | 31.1M | 29.8M | 30.1M | 29.6M | 34.4M | 30M | 28.8M |
| EBIT | 173.9M | 162.5M | 174.1M | 157.1M | 110.9M | 164.9M | 165.2M | 130.2M | 128.9M | 169.3M | 189.9M | 187.5M | 160.1M | 130.3M | 138.3M | 229M | 189.5M | 185M | 182.8M | 212.8M |
| Net Interest Income | 3.2M | 5.3M | 4.6M | 3.5M | 3.7M | 4.8M | 3.9M | 2.5M | 4.7M | 8.3M | 5.9M | 2.4M | 2.6M | 1.3M | -600K | -1.4M | -1.8M | -2.8M | -1.3M | -1.6M |
| Interest Income | 3.2M | 5.3M | 4.7M | 3.6M | 4.1M | 4.8M | 4.6M | 4M | 6.2M | 9.4M | 8.8M | 5M | 4.8M | 2.9M | 1.5M | 400K | 300K | 300K | 400K | 200K |
| Interest Expense | 0 | 0 | 100K | 100K | 400K | 0 | 700K | 1.5M | 1.5M | 1.1M | 2.9M | 2.6M | 2.2M | 1.6M | 2.1M | 1.8M | 2.1M | 3.1M | 1.7M | 1.8M |
| Other Income/Expense | 3M | 8.8M | 300K | 3.8M | -14.5M | -3.7M | 600K | 2.4M | 4.7M | 900K | -400K | 2.6M | -3.9M | -29.9M | -46.6M | 8.8M | 8.2M | 1M | 4.1M | 9.7M |
| Pretax Income | 180.1M | 165.4M | 174M | 162M | 113.9M | 166.9M | 168.4M | 133.2M | 131.7M | 171.5M | 190.7M | 189.9M | 163.6M | 131.9M | 141M | 232.7M | 195M | 181.9M | 187.6M | 219.6M |
| Pretax Margin % | 21.32% | 20.55% | 21.63% | 21.14% | 16.31% | 22.3% | 22.55% | 18.97% | 18.94% | 23.43% | 25.51% | 25.18% | 22.85% | 18.62% | 20.54% | 30.16% | 27.09% | 24.95% | 26.55% | 30.33% |
| Income Tax | 44.7M | 33.3M | 34M | 30.2M | 24.1M | 36.8M | 32.4M | 21.9M | 16.4M | 34.5M | 29.4M | 34.8M | 23.6M | 28.9M | 20.4M | 44.2M | 21.2M | 34.2M | 12M | 32.3M |
| Effective Tax Rate % | 24.82% | 20.13% | 19.54% | 18.64% | 21.16% | 22.05% | 19.24% | 16.44% | 12.45% | 20.12% | 15.42% | 18.33% | 14.43% | 21.91% | 14.47% | 18.99% | 10.87% | 18.8% | 6.4% | 14.71% |
| Net Income | 138.8M | 132.1M | 140M | 131.8M | 89.8M | 130.1M | 136M | 111.3M | 115.3M | 137M | 161.3M | 155.1M | 140M | 103M | 120.6M | 188.5M | 173.8M | 147.7M | 175.6M | 187.3M |
| Net Margin % | 16.43% | 16.41% | 17.41% | 17.2% | 12.86% | 17.38% | 18.21% | 15.85% | 16.58% | 18.71% | 21.58% | 20.56% | 19.56% | 14.54% | 17.57% | 24.43% | 24.15% | 20.26% | 24.85% | 25.87% |
| Net Income Growth % | 54.57% | 1.54% | 2.94% | 18.42% | -22.12% | -5.04% | -15.69% | -28.24% | -17.64% | 33.01% | 33.75% | -17.72% | -19.45% | -30.26% | -31.32% | 0.64% | 14.95% | 50.1% | 113.37% | 105.37% |
| Net Income (Continuing) | 135.4M | 132.1M | 140M | 131.8M | 89.8M | 130.1M | 136M | 111.3M | 115.3M | 137M | 161.3M | 155.1M | 140M | 103M | 120.6M | 188.5M | 173.8M | 147.7M | 175.6M | 187.3M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.92 | 1.82 | 1.93 | 1.82 | 1.23 | 1.78 | 1.85 | 1.51 | 1.55 | 1.83 | 2.14 | 2.06 | 1.85 | 1.36 | 1.59 | 2.49 | 2.29 | 1.93 | 2.31 | 2.47 |
| EPS Growth % | 56.1% | 2.25% | 4.32% | 20.53% | -20.65% | -2.73% | -13.55% | -26.7% | -16.22% | 34.56% | 34.59% | -17.27% | -19.21% | -29.53% | -31.17% | 0.81% | 15.08% | 49.61% | 111.93% | 104.13% |
| EPS (Basic) | 1.93 | 1.83 | 1.94 | 1.82 | 1.24 | 1.79 | 1.87 | 1.52 | 1.57 | 1.85 | 2.17 | 2.09 | 1.88 | 1.38 | 1.62 | 2.53 | 2.34 | 1.98 | 2.37 | 2.53 |
| Diluted Shares Outstanding | 72.4M | 72.7M | 72.7M | 72.8M | 73M | 73.7M | 73.4M | 73.7M | 74.3M | 75M | 75.3M | 75.4M | 75.7M | 75.6M | 75.7M | 75.8M | 76M | 76.4M | 76M | 75.7M |
| Basic Shares Outstanding | 72M | 72.3M | 72.3M | 72.3M | 72.5M | 73M | 72.8M | 73M | 73.5M | 74.1M | 74.3M | 74.3M | 74.5M | 74.4M | 74.4M | 74.4M | 74.4M | 74.5M | 74.1M | 74M |
| Dividend Payout Ratio | - | 11.96% | 10.79% | 11.46% | 16.93% | 11.76% | 10.66% | 13.12% | 12.75% | 10.8% | 8.68% | 9.09% | 10.07% | 13.69% | 11.19% | 6.95% | 7.71% | 9% | 7.18% | 6.73% |