West Pharmaceutical Services
Supplies injectable-drug containment, delivery systems, and contract device manufacturing.
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Profile
Sells stoppers, seals, syringe and cartridge components, polymer containment, self-injection systems, and analytical services for injectable drugs, while West Vantage designs and manufactures complex healthcare devices for customers. Proprietary Products supplies most revenue, with regulated quality systems and global production shaping the business.
Supplies injectable-drug containment and delivery through Proprietary Products, its larger segment. The portfolio includes elastomer stoppers and seals, syringe and cartridge components, polymer vials and syringes, reconstitution and transfer systems, self-injection devices, analytical lab services, and packaging support for biologic, generic, and pharmaceutical customers.
West Vantage designs, molds, assembles, and packages customer-owned complex devices and combination products for pharmaceutical, diagnostic, and medical-device customers. Manufacturing spans the Americas, Europe, and Asia, with more than half of sales generated outside the United States.
Competes through container-closure expertise, regulatory quality, technical support, and the ability to make products at multiple sites. Sales are concentrated among major drugmakers; production depends on regulated processes and single-source suppliers for some critical materials.
Company facts
Categories
Key statistics
Year to date +22.1% · Average volume (30d) 667.0K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 27, 2026 | Evercore ISI | Reiterate | Outperform | $410 | $425 | |
| Jul 13, 2026 | Exane BNP Paribas | Initiate | Outperform | |||
| Jul 13, 2026 | BNP Paribas | Target | $447 | |||
| Jul 9, 2026 | Morgan Stanley | Reiterate | Equal Weight | $315 | $365 | |
| Jul 6, 2026 | Evercore ISI | Reiterate | Outperform | $320 | $410 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 23, 2026Q2 FY26 | $2.08 | $2.37 | +13.9% | $840.0M | $872.3M | +3.8% | −7.67% |
| Apr 23, 2026Q1 FY26 | $1.68 | $2.13 | +26.8% | $780.3M | $844.9M | +8.3% | −1.14% |
| Feb 12, 2026Q4 FY25 | $1.83 | $2.04 | +11.5% | $794.9M | $805.0M | +1.3% | +2.82% |
| Oct 23, 2025Q3 FY25 | $1.68 | $1.96 | +16.7% | $785.7M | $804.3M | +2.4% | −3.18% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $698.2M | $766.2M | $804.3M | $805.0M | $844.9M | $872.3M | |
| Gross profit | $232.7M | $273.2M | $293.5M | $303.9M | $296.4M | $329.2M | |
| Operating income | $128.4M | $158.2M | $173.7M | $156.6M | $177.1M | $179.1M | |
| Net income | $89.8M | $131.8M | $140.0M | $132.1M | $138.8M | $154.0M | |
| Diluted EPS | $1.23 | $1.82 | $1.93 | $1.82 | $1.92 | $2.15 | |
| Gross margin | 33.3% | 35.7% | 36.5% | 37.8% | 35.1% | 37.7% | |
| Operating margin | 18.4% | 20.6% | 21.6% | 19.5% | 21.0% | 20.5% |
Fiscal years (4-quarter sums)FY21 $2.83B · FY22 $2.89B · FY23 $2.95B · FY24 $2.89B · FY25 $3.07B
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $435.8M · Total debt $312.1M · Total assets $4.08B · Shareholders' equity $2.99B
Dividends
Raised for 38 straight years — most recently to $0.22 from $0.21 in Nov 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 29, 2026 | Jul 29 | Aug 5 | $0.22 | |
| Apr 29, 2026 | Apr 29 | May 6 | $0.22 | |
| Jan 28, 2026 | Jan 28 | Feb 4 | $0.22 | |
| Nov 12, 2025 | Nov 12 | Nov 19 | $0.22 | raised from $0.21 |
| Jul 30, 2025 | Jul 30 | Aug 6 | $0.21 | |
| Apr 30, 2025 | Apr 30 | May 7 | $0.21 | |
| Feb 7, 2025 | Feb 7 | Feb 11 | $0.21 | |
| Nov 13, 2024 | Nov 13 | Nov 20 | $0.21 | raised from $0.20 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 70.38M · Float 69.93M · 99.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 6.65M | 9.45% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 4.61M | 6.56% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 4.02M | 5.71% | 13F | Aug 13, 2026 |
| FMR LLC | 3.57M | 5.08% | 13F | Aug 13, 2026 |
| State Street Corp | 3.35M | 4.76% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 27, 2026 | Chad Winters | officer: VP, Chief Accounting Officer | −896 | $300.67 |
| Apr 27, 2026 | Annette F. Favorite | officer: Sr. VP & Chief HR Officer | −2,817 | $305.20 |
Peers
- AptarGroup
Injectable elastomers and pharma delivery services overlap core containment
- Stevanato Group
High-value syringes, vials, and device manufacturing overlap biologics
- BD
Prefillable syringes and self-injection systems challenge delivery devices
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| West Pharmaceutical Services | $349.58 | +3.61% | $23.75B | 43.2 | 36.5 | 7.1 | +13.9% |
| AptarGroup | $132.99 | −0.02% | $8.49B | 24.0 | 22.4 | 2.2 | +6.3% |
| Stevanato Group | $21.15 | +0.33% | $5.74B | 37.8 | 26.6 | 4.1 | +4.6% |
| BD | $189.00 | −0.27% | $52.22B | 57.1 | 14.3 | 2.5 | −9.6% |
| Median | 37.8 | 22.4 | 2.5 | +4.6% |