--- title: "West Pharmaceutical: Metrics Guide" description: "West Pharmaceutical Services revenue, margins, cash flow and balance sheet figures by fiscal year, taken from its SEC filings, with the ratios explained." canonical: https://www.getswoopr.com/stocks/companies/west-pharmaceutical-services/metrics/ source: "Swoopr Investment: https://www.getswoopr.com" --- # West Pharmaceutical Services: Financial & Operating Metrics Guide ## Direct Answer West Pharmaceutical Services reported revenue of $3.1 billion for the fiscal year ended December 31, 2025, with an operating margin of 19.0% and net income of $494 million, according to its SEC filings. Revenue grew 6.3% from the prior year. ## What Are West Pharmaceutical Services's Key Financial Figures? | Fiscal year | FY2025ended December 31, 2025 | FY2024ended December 31, 2024 | FY2023ended December 31, 2023 | FY2022ended December 31, 2022 | | --- | --- | --- | --- | --- | | Revenue | $3.1 billion | $2.9 billion | $2.9 billion | $2.9 billion | | Operating income | $585 million | $570 million | $676 million | $734 million | | Operating margin | 19.0% | 19.7% | 22.9% | 25.4% | | Net income | $494 million | $493 million | $593 million | $586 million | | Net margin | 16.1% | 17.0% | 20.1% | 20.3% | | Operating cash flow | $755 million | $653 million | $777 million | $724 million | | Capital expenditures | $286 million | $377 million | $362 million | $285 million | | Free cash flow | $469 million | $276 million | $415 million | $439 million | Operating margin narrowed by 0.7 percentage points between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was $469 million against net income of $494 million; cash generation fell short of reported earnings, which is worth reconciling in the cash flow statement. ![Bar chart of West Pharmaceutical Services revenue, operating income, net income for fiscal 2022 to 2025. In fiscal 2025, revenue was $3.1 billion, operating income $585 million and net income $494 million.](https://www.getswoopr.com/images/charts/west-pharmaceutical-services-metrics-revenue-profit.webp) *West Pharmaceutical Services revenue, operating income and net income by fiscal year, from the figures in the table above. Select the chart to open it full size.* ![Line chart of West Pharmaceutical Services operating margin and net margin for fiscal 2022 to 2025. In fiscal 2025, operating margin was 19.0% and net margin was 16.1%.](https://www.getswoopr.com/images/charts/west-pharmaceutical-services-metrics-margins.webp) *West Pharmaceutical Services operating margin and net margin by fiscal year: operating income and net income as a share of revenue. Select the chart to open it full size.* ![Bar chart of West Pharmaceutical Services operating cash flow, capital expenditures, free cash flow for fiscal 2022 to 2025. In fiscal 2025, operating cash flow was $755 million, capital expenditures was $286 million, free cash flow was $469 million.](https://www.getswoopr.com/images/charts/west-pharmaceutical-services-metrics-cash-flow.webp) *West Pharmaceutical Services operating cash flow, capital expenditures and free cash flow by fiscal year. Select the chart to open it full size.* ## What Does West Pharmaceutical Services's Balance Sheet Show? | Cash and cash equivalents | $791 million | | --- | --- | | Long-term debt | $203 million | | Total assets | $4.3 billion | | Total liabilities | $1.1 billion | | Shareholders' equity | $3.2 billion | | Current ratio | 3.0x | Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions. ## Where These Numbers Come From Every figure on this page is a value West Pharmaceutical Services reported in its own SEC filings, read from the SEC's XBRL data (accession 0000105770-26-000010 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 7, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary. Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What was West Pharmaceutical Services's revenue in fiscal 2025? West Pharmaceutical Services reported revenue of $3.1 billion for the fiscal year ended December 31, 2025, according to its SEC filings. ### What is West Pharmaceutical Services's operating margin? West Pharmaceutical Services's operating margin was 19.0% in fiscal 2025: operating income of $585 million on revenue of $3.1 billion. ### How much free cash flow did West Pharmaceutical Services generate? Operating cash flow of $755 million less capital expenditures of $286 million gives free cash flow of $469 million for fiscal 2025. ## References - [SEC EDGAR: WEST PHARMACEUTICAL SERVICES INC Form 10-K filed February 17, 2026](https://www.sec.gov/Archives/edgar/data/105770/000010577026000010/wst-20251231.htm) - [SEC EDGAR: WEST PHARMACEUTICAL SERVICES INC annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=105770&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) ## Related Pages - [West Pharmaceutical Services company dossier](https://www.getswoopr.com/stocks/companies/west-pharmaceutical-services/) - [West Pharmaceutical Services financial metrics](https://www.getswoopr.com/stocks/companies/west-pharmaceutical-services/metrics/) - [West Pharmaceutical Services financial risk indicators](https://www.getswoopr.com/stocks/companies/west-pharmaceutical-services/risks/) - [West Pharmaceutical Services peer comparison](https://www.getswoopr.com/stocks/companies/west-pharmaceutical-services/competitors/) - [West Pharmaceutical Services business model and revenue mix](https://www.getswoopr.com/stocks/companies/west-pharmaceutical-services/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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