West Pharmaceutical Services Inc (WST) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of West Pharmaceutical Services Inc stock $139, price $392, that is 64.5% below the price, quality 73 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $189.45 – $465.39 · fair‑value band $93.15 – $180.99 · the $392.48 price screens above the $139.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.
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West Pharmaceutical Services, Inc. designs, manufactures, and sells containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.
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It operates in two segments, Proprietary Products and Contract-Manufactured Products.
The Proprietary Products segment offers stoppers and seals for injectable packaging systems; syringe and cartridge components, including custom solutions for the needs of injectable drug applications, as well as administration systems that enhance the safe delivery of drugs through advanced reconstitution, mixing, and transfer technologies; and films, coatings, washing, and vision inspection and sterilization processes and services to enhance the quality of packaging products.
This segment also provides drug containment solutions in the form of vials, syringes, and cartridges; and self-injection devices; and a range of integrated solutions, including analytical lab services, pre-approval primary packaging support and engineering development, regulatory expertise, and after-sales technical support.
This segment serves biologic, generic, and pharmaceutical drug companies.
The Contract-Manufactured Products segment is involved in the design, manufacture, and automated assembly of devices used in surgical, diagnostic, ophthalmic, injectable, and other drug delivery systems, as well as consumer products.
This segment primarily serves pharmaceutical, diagnostic, and medical device companies. It sells and distributes its products through its sales force and distribution network, contract sales agents, and regional distributors.
West Pharmaceutical Services, Inc. was founded in 1923 and is headquartered in Exton, Pennsylvania.
Stock analysis
West Pharmaceutical Services Inc (WST) currently trades at $392.48, while our model-based Fair Value estimate is $139.22, 65% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $155.92 per share, and 0 of the 26 models we run sit above the $392.48 price.
Bear case: the Earnings-Based group reads lowest at $49.47, and 26 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $93.15 (bear) to $180.99 (bull), the price of $392.48 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 73/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
West Pharmaceutical Services Inc reported revenue of $3.1B in FY2025 versus $2.8B in FY2021, a compound +2.1%/yr. Reported net income was $494M in FY2025, compounding −7.1%/yr from FY2021.
Key figures
Market cap $28.0B Large · P/E ratio 44.0 · P/S ratio 8.24 · EPS (TTM) $8.91 · Dividend yield 0.2% · Net margin 18.8% · Return on equity 21.2% · Return on assets (EBIT) 18.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 77 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 70% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −46% fair-value upside, at −65%, WST screens richer than that median.
Fair Value models
Bear$93.15Fair Value $139.22Bull$180.99
Price $392.48 · Downside -64.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($6.82 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, one officer or director sold shares worth $5.4M and none bought.
SaleAnnette F FavoriteSr. VP & Chief HR Officer3× since Apr 27, 2026: 18,476 shares, avg. $341.17$6.3MSep 15, 2026
SaleChad WintersVP, Chief Accounting Officer896 shares at $300.67$269,400Apr 27, 2026
Plus 4 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+6.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.4%
Start year 2020 (pandemic). Over 10 years: +8.2% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.2%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+9.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.6%
Dividend (yield on the price)0.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.8.3% vs 14.5%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.20% → 20%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+29.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +26.6% a year for the price and +3.9% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (96 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: High-value components now exceeding half of revenue together with the Annex 1 regulatory shift form the main strength, while thin public signals on moat durability and limited evidence remain the central weakness.
Main risk: Pharmaceutical firms might develop oral GLP-1s or other non-injectable formulations for biologics, cutting demand for West's injectable containment and delivery components.
Bull case: West could leverage its regulatory expertise and high-value products to support complex injectable biologics even as some therapies shift, while expanding into connected delivery devices.
Bear case: A broad move by major customers to oral or alternative delivery for high-volume drugs could shrink West's addressable market for injectable components and erode revenue in its core segment.
West gains from high-value product components that now exceed half of revenue plus a regulatory-driven Annex 1 shift in containment standards. Only a small share of the multi-billion opportunity has converted so far while cash flows face near-term pressure. Will the remaining pipeline outweigh those headwinds or will the business need to prove more durable growth first?
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Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Instruments & Supplies · 181 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score73 · Top 25%
Fair Value upside−64.5% · Bottom 25%
Profitability
Return on equity (12 months)21.2% · Top 25%
Return on assets11.6% · Top 25%
Net margin (12 months)18.8% · Top 25%
Operating margin (12 months)25.4% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)8.7% · Above median
Dividend yield (12 months)0.2% · Bottom 25%
Balance sheet
Debt / equity0.06× · Below median
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
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Is West Pharmaceutical Services Inc (WST) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $139.22 versus a price of $392.48, about 65% lower (overvalued).
What is the fair value of WST?
Our model-based fair value for West Pharmaceutical Services Inc is $139.22 (as of Nov 6, 2026), built from audited fundamentals. The current price: $392.48.
What is the quality score of WST?
West Pharmaceutical Services Inc has a Quality Score of 73/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for West Pharmaceutical Services Inc (WST)?
Our model-based price target is the fair value of $139.22 (as of Nov 6, 2026) from 26 valuation models. Cautious scenario $93.15, optimistic scenario $180.99. It is a calculation from audited fundamentals, not an analyst target.
What is the West Pharmaceutical Services Inc stock forecast for 2026?
Our models put fair value at $139.22, about 65% lower versus a price of $392.48 (overvalued). Cautious scenario $93.15, optimistic scenario $180.99. The calculation is refreshed regularly with new filings.
What is the revenue of West Pharmaceutical Services Inc (WST)?
West Pharmaceutical Services Inc reported trailing-twelve-month revenue of about $3.4B (latest available figure, as of Nov 6, 2026).
Does West Pharmaceutical Services Inc pay a dividend?
West Pharmaceutical Services Inc currently shows a dividend yield of 0.22% relative to its recent price (as of Nov 6, 2026).
What growth is priced into West Pharmaceutical Services Inc (WST)?
For today's price to be fair in a discounted-cash-flow model, West Pharmaceutical Services Inc would have to grow free cash flow by +29.6 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.4 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of WST use?
Our models discount West Pharmaceutical Services Inc at 9.6 %: a base by market capitalisation (large), damped by beta 1.14, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For West Pharmaceutical Services Inc that is +29.6 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has West Pharmaceutical Services Inc (WST) delivered so far?
Over the past 5 years revenue at West Pharmaceutical Services Inc grew +7.4 % a year. The price currently implies +29.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of West Pharmaceutical Services Inc (WST) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into West Pharmaceutical Services Inc (+29.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of West Pharmaceutical Services Inc (WST)?
The free-cash-flow yield on the price is 1.68 %: that much free cash flow West Pharmaceutical Services Inc produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of West Pharmaceutical Services Inc (WST)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For West Pharmaceutical Services Inc it is $139.22 per share (as of Nov 6, 2026), against a price of $392.48. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is West Pharmaceutical Services Inc stock overvalued or undervalued in 2026?
As of Nov 6, 2026, WST trades above its calculated fair value: price $392.48, fair value $139.22, a gap of about −65% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WST?
No. The price is what the market pays today ($392.48); the fair value is what the company's own numbers justify ($139.22). For West Pharmaceutical Services Inc the two are $253.26 per share apart. That gap is exactly why we show both numbers side by side.
How much is West Pharmaceutical Services Inc worth?
The market values West Pharmaceutical Services Inc at about $28.0B (market capitalisation, as of Nov 6, 2026). Per share that is $392.48; our models calculate a fair value of $139.22 per share.
What do the bullish and bearish scenarios say about WST?
Our models span a range for West Pharmaceutical Services Inc: cautious scenario $93.15, base $139.22, optimistic $180.99 per share (as of Nov 6, 2026, price $392.48). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WST?
West Pharmaceutical Services Inc trades at a price-to-earnings ratio of 44.0 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $139.22 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 6 of the years ex one-offs: 46.7. Other multiples: PEG 3.2, P/B 8.8, P/S 8.2, EV/EBITDA 28.5.
What is the PEG ratio of WST?
The PEG ratio of West Pharmaceutical Services Inc is 3.21 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of West Pharmaceutical Services Inc (WST)?
Balance-sheet figures for West Pharmaceutical Services Inc (as of Nov 6, 2026): return on equity 21.2%, debt of 0.06 per unit of equity. They feed the Quality Score of 73/100, which measures business quality independently of the share price.
How far is WST from its 52-week high?
West Pharmaceutical Services Inc trades at $392.48, about 6% below its 52-week high of $416.67 and 70% above the low of $230.63 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $139.22 is for.
Which stocks are comparable to West Pharmaceutical Services Inc?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Medline Inc, Becton, Dickinson and Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is West Pharmaceutical Services Inc stock attractive at the current price?
The data as of Nov 6, 2026: price $392.48, calculated fair value $139.22 (−65%), Quality Score 73/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WST calculated?
We run West Pharmaceutical Services Inc through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $139.22, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. West Pharmaceutical Services Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of West Pharmaceutical Services Inc (WST)?
The closing price on Nov 5, 2026 was $392.48. Our model-based fair value is $139.22, about 65% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with West Pharmaceutical Services Inc right now?
The price sits above even our optimistic bull case ($180.99). The favourable scenario is already priced in. Solid but not exceptional quality (73/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($93.15 to $180.99) leaves room in how you read the outcome.
Where does the earnings growth of West Pharmaceutical Services Inc (WST) come from?
Earnings per share at West Pharmaceutical Services Inc grew +17.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.4 %, EBIT margin +7.0 %, tax rate +1.1 %, residual (interest, one-offs) +0.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of West Pharmaceutical Services Inc
How large is the market capitalisation of West Pharmaceutical Services Inc (WST)?
The market capitalisation of West Pharmaceutical Services Inc is $28.0B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of West Pharmaceutical Services Inc (WST)?
The price-to-sales ratio of West Pharmaceutical Services Inc is 8.24 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of West Pharmaceutical Services Inc (WST)?
Earnings per share at West Pharmaceutical Services Inc are $8.91 (price ÷ EPS = P/E 44.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of West Pharmaceutical Services Inc (WST)?
The dividend yield of West Pharmaceutical Services Inc is 0.2% (payout 9.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of West Pharmaceutical Services Inc (WST)?
The net margin of West Pharmaceutical Services Inc is 18.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of West Pharmaceutical Services Inc (WST)?
The return on equity (ROE) of West Pharmaceutical Services Inc is 21.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of West Pharmaceutical Services Inc (WST)?
On an EBIT basis the return on assets of West Pharmaceutical Services Inc is 18.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of West Pharmaceutical Services Inc (WST)?
The operating margin of West Pharmaceutical Services Inc is 25.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at West Pharmaceutical Services Inc (WST)?
Revenue at West Pharmaceutical Services Inc is growing +8.7% versus a year earlier (3y avg +2.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at West Pharmaceutical Services Inc (WST)?
Earnings per share at West Pharmaceutical Services Inc are growing +57.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does West Pharmaceutical Services Inc (WST) hold?
West Pharmaceutical Services Inc holds more cash than debt, $375M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 6, 2026