West Pharmaceutical Services (WST) FY2022 results: revenue $2.9 billion, up 2.0% on the year
West Pharmaceutical Services Inc. (WST) reported revenue of $2.9 billion for fiscal 2022, the year ended 31 December 2022, up 2.0% on the year before. Net income was $586 million, down 11.5%, and diluted earnings per share $7.73. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2023.
Revenue
$2.9 billion
+2.0% on the year
FY2015FY2022
Operating margin
25.4%
26.6% a year earlier
FY2015FY2022
Net income
$586 million
-11.5% on the year
FY2015FY2022
Diluted EPS
$7.73
-10.8% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
724
584
472
+24.0%
Capital expenditure
285
253
174
+12.3%
Free cash flow
439
331
298
+32.9%
Free cash flow margin
15.2%
11.7%
13.9%
Cash from investing
-288
-253
-180
Cash from financing
-294
-168
-137
Depreciation and amortisation
121
122
109
-1.4%
Share-based compensation
23.7
37.5
34.0
-36.8%
Buybacks
203
137
116
+47.9%
Dividends paid
54.1
51.1
48.1
+5.9%
Dividend per share
$0.74
$0.70
$0.66
+5.7%
Diluted shares, weighted
76m
76m
76m
-0.7%
Shares outstanding at period end
74m
74m
74m
-0.1%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
2,685
2,335
1,854
+15.0%
Debt
209
253
255
-17.4%
Operating lease liabilities
93.0
63.0
60.4
+47.6%
Other liabilities
630
662
624
-4.9%
Total liabilities and equity
3,617
3,314
2,794
+9.1%
Fixed assets
1,158
1,058
943
+9.5%
Goodwill
107
110
111
-2.4%
Intangible assets
18.4
23.0
30.5
-20.0%
Cash and equivalents
894
763
616
+17.3%
Receivables
507
489
385
+3.8%
Inventory
415
378
321
+9.6%
Other assets
516
493
387
+4.6%
Total assets
3,617
3,314
2,794
+9.1%
10-K for the year ended 31 December 2022, filed 21 February 2023: the filing.