WSTWest Pharmaceutical Services
We are a leading global manufacturer in the design and production of technologically advanced, high-quality, integrated containment and delivery systems for injectable drugs and healthcare products. 10-K, Item 1
- Employees
- 10,800
- Headquarters
- Exton, PA
- CEO
- Eric M. Green
- Next results
- around Feb 11, 2027
The biggest changes in the 10-K filed 2026-02-17, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Cash from operations
+15.5% Big change FY to 2025-12-31 vs 2024-12-31“Net cash provided by operating activities increased by $101.4 million in 2025, due primarily to improved operating results and the timing of incentive payments.”
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Gross margin
34.5% → 35.9% (+1.4 pts) Big change FY to 2025-12-31 vs 2024-12-31“Contract-Manufactured Products gross profit margin decreased by 1.0 margin points in 2025, due primarily to increased production costs, partially offset by sales price increases.”
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Operating margin
19.7% → 19.0% (-0.7 pts) FY to 2025-12-31 vs 2024-12-31“Consolidated operating profit increased by $15.0 million, or 2.6%, in 2025, including a favorable foreign currency translation impact of $22.3 million, due to the factors described above.”
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“Proprietary Products – Proprietary Products operating profit increased by $79.4 million, or 13.7%, in 2025, including a favorable foreign currency translation impact of $20.9 million, due to the factors described above, most notably increased customer demand, primarily of high value components, higher plant absorption and sales price increases.”
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Revenue
+6.3% FY to 2025-12-31 vs 2024-12-31“Excluding foreign currency translation effects, net sales increased by $112.9 million, or 4.8%, due primarily to an increase in sales of Westar®, NovaChoice® and Envision® products.”
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“Excluding foreign currency translation effects, net sales increased by $11.6 million, or 2.1%, due primarily to an increase in sales of self-injection devices for obesity and diabetes, partially offset by a decrease in sales of healthcare diagnostic devices.”
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Net income
+0.2% FY to 2025-12-31 vs 2024-12-31“The increase in the effective tax rate in 2025 of 1.8% is due primarily to a decrease in the tax benefit related to stock-based compensation in 2025, as compared to 2024.”
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“Equity in net income of affiliated companies decreased by $0.3 million, or 2.0%, in 2025, due primarily to less favorable operating results at Daikyo and the Mexico affiliates.”
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Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
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