WST FINANCIAL STATEMENTS

West Pharmaceutical Services Inc — balance sheet, income statement and cash flow trends

WSTWest Pharmaceutical Services Inc

🇺🇸 USA · US · Healthcare · Medical Instruments & Supplies

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue3.2 B $+11.2%

Gross Profit1.2 B $+16.3%

Operating Income665.6 M $+11.4%

EBITDA843.6 M $+15.4%

Net Income542.7 M $+16.2%

Peer Comparison· Medical Instruments & Supplies

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
WST	11.2%	36.2%	26.2%	16.9%
RMD	10.5%	61.2%	39.1%	27.4%
FPH	4.8%	64.2%	34.9%	20.0%
EL	7.5%	60.6%	23.0%	8.1%
ANN	11.4%	41.9%	15.2%	6.7%
Industry median	6.4%	53.7%	13.8%	3.9%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
WST	11.2%	36.2%	26.2%	16.9%
RMD	10.3%	61.7%	39.5%	27.4%
BDX	2.4%	46.5%	21.9%	5.3%
COO	6.1%	64.4%	20.5%	5.6%
SOLV	-0.6%	53.7%	33.3%	17.3%
ALGN	2.9%	67.7%	22.2%	10.5%
Industry median	6.4%	53.7%	13.8%	3.9%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity3 B $73%
Current Liabilities674 M $16%
Long-term Liabilities445.4 M $11%

Key Figures

YoY change

Total Assets4.1 B $+13.6%

Total Liabilities1.1 B $+19.7%

Total Equity3 B $+11.5%

Cash & ST Investments521.4 M $+29.0%

Total Debt316.2 M $+4.3%

Net Debt-205.2 M $—

Peer Comparison· Medical Instruments & Supplies

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
WST	2.71	10.6%	-0.24	72.8%
RMD	3.01	13.0%	-0.38	73.9%
FPH	2.31	6.9%	-0.39	74.1%
EL	0.99	37.0%	1.66	60.9%
ANN	2.36	46.2%	2.10	59.3%
Industry median	2.40	34.8%	1.44	62.7%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
WST	2.71	10.6%	-0.24	72.8%
RMD	3.01	13.0%	-0.37	73.9%
BDX	0.94	71.6%	3.51	47.5%
COO	1.27	29.9%	2.68	66.0%
SOLV	1.07	102.2%	1.64	35.2%
ALGN	1.39	2.8%	-1.04	65.7%
Industry median	2.40	34.8%	1.44	62.7%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow715.3 M $+7.6%

Capital Expenditures257.3 M $-28.1%

Free Cash Flow458 M $+49.2%

Dividends Paid-61.8 M $-203.7%

Peer Comparison· Medical Instruments & Supplies

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
WST	22.2%	14.2%	8.0%	131.8%
RMD	34.2%	31.7%	2.5%	124.8%
FPH	28.4%	21.0%	7.4%	141.7%
EL	18.6%	13.2%	5.4%	228.6%
ANN	11.7%	8.3%	3.4%	173.5%
Industry median	13.8%	8.6%	3.8%	128.3%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
WST	22.2%	14.2%	8.0%	131.8%
RMD	34.1%	31.6%	2.6%	124.4%
BDX	18.3%	14.7%	3.6%	342.8%
COO	22.5%	13.5%	9.1%	404.2%
SOLV	1.8%	-2.5%	4.3%	10.5%
ALGN	16.9%	16.8%	4.6%	160.9%
Industry median	13.8%	8.6%	3.8%	128.3%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 7, 26. This content is for informational purposes only and is not investment advice.