West Pharmaceutical Services (WST) FY2024 results: revenue $2.9 billion, down 1.9% on the year
West Pharmaceutical Services Inc. (WST) reported revenue of $2.9 billion for fiscal 2024, the year ended 31 December 2024, down 1.9% on the year before. Net income was $493 million, down 17.0%, and diluted earnings per share $6.69. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2025.
Revenue
$2.9 billion
-1.9% on the year
FY2017FY2024
Operating margin
19.7%
22.9% a year earlier
FY2017FY2024
Net income
$493 million
-17.0% on the year
FY2017FY2024
Diluted EPS
$6.69
-15.1% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
653
776
724
-15.9%
Capital expenditure
377
362
285
+4.1%
Free cash flow
276
414
439
-33.3%
Free cash flow margin
9.6%
14.1%
15.2%
Cash from investing
-379
-369
-288
Cash from financing
-623
-460
-294
Depreciation and amortisation
155
137
121
+13.2%
Share-based compensation
18.7
23.3
23.7
-19.7%
Buybacks
561
438
203
+28.0%
Dividends paid
59.1
57.0
54.1
+3.7%
Dividend per share
$0.82
$0.78
$0.74
+5.1%
Diluted shares, weighted
74m
75m
76m
-2.1%
Shares outstanding at period end
72m
74m
74m
-1.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
2,682
2,881
2,685
-6.9%
Debt
203
207
209
-2.0%
Operating lease liabilities
81.8
84.5
93.0
-3.2%
Finance lease liabilities
2.1
n/a
n/a
Other liabilities
675
657
630
+2.6%
Total liabilities and equity
3,643
3,830
3,617
-4.9%
Fixed assets
1,582
1,413
1,158
+11.9%
Goodwill
106
108
107
-2.3%
Intangible assets
10.8
15.1
18.4
-28.5%
Cash and equivalents
485
854
894
-43.2%
Receivables
552
512
507
+7.9%
Inventory
377
435
415
-13.3%
Other assets
531
492
516
+7.9%
Total assets
3,643
3,830
3,617
-4.9%
10-K for the year ended 31 December 2024, filed 18 February 2025: the filing.