West Pharmaceutical Services income statement

In fiscal 2025, West Pharmaceutical Services reported revenue of $3.07bn, up 6.3% on the year before, operating income of $585m (a 19.0% margin) and net income of $494m, or $6.79 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

West Pharmaceutical Services: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Revenue	1,056	1,105	1,192	1,266	1,368	1,421	1,400	1,509	1,599	1,717	1,840	2,147	2,832	2,887	2,950	2,893	3,074	3,397
Cost of revenue	752	787	853	879	934	974	944	1,008	1,086	1,172	1,234	1,379	1,656	1,751	1,821	1,895	1,970	2,120
Gross profit	304	318	339	388	435	448	456	501	513	545	606	768	1,176	1,136	1,129	999	1,104	1,277
Research and development	20	24	29	33	38	37	34	37	39	40	39	47	53	59	68	69	74	76
Selling, general and administrative	178	188	191	218	235	229	233	240	246	263	273	302	363	317	353	339	394	437
Operating income	98	91	110	135	162	182	129	195	226	240	297	407	752	734	676	570	585	780
Interest expense	15	17	18	17	17	17	14	8	8	8	9	8	8	8	9	3	1	8
Income before tax	83	75	93	109	147	169	116	190	222	241	292	401	749	680	698	586	601	789
Income tax	14	14	24	33	40	47	26	54	81	41	59	73	107	115	122	108	122	168
Net income	73	65	76	81	112	127	96	144	151	207	242	346	662	586	593	493	494	639
Diluted EPS	$1.06	$0.94	$1.08	$1.15	$1.57	$1.75	$1.30	$1.91	$1.99	$2.74	$3.21	$4.57	$8.67	$7.73	$7.88	$6.69	$6.79	$8.90
Diluted shares (average)	73m	73m	74m	72m	71m	73m	74m	75m	76m	75m	75m	76m	76m	76m	75m	74m	73m	72m
EBITDA	166	164	185	212	248	272	219	286	323	345	400	516	875	855	813	725	756	965

US$ millions unless shown otherwise. Fiscal quarters.

West Pharmaceutical Services: income statement, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Revenue	749	698	767	805	805	845	872	875
Cost of revenue	475	466	493	510	501	549	543	527
Gross profit	274	232	274	294	304	296	329	347
Research and development	19	16	19	17	22	16	20	18
Selling, general and administrative	85	88	96	103	107	100	118	113
Operating income	160	107	154	168	157	177	179	267
Interest expense	−1	0	0	0	−0	2	3	4
Income before tax	165	111	157	172	162	180	180	268
Income tax	37	24	30	34	33	45	32	58
Net income	130	90	132	140	132	139	154	214
Diluted EPS	$1.78	$1.23	$1.82	$1.92	$1.82	$1.92	$2.15	$3.02
EBITDA	200	147	195	211	204	222	225	313

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from West Pharmaceutical Services's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to West Pharmaceutical Services.