Company Valuation: West Pharmaceutical Services, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 34,744 17,424 26,053 23,723 19,795 24,781 - -
Change - -49.85% 49.53% -8.95% -16.56% 25.19% - -
Enterprise Value (EV) 1 34,744 16,738 25,406 23,441 19,206 24,278 23,742 23,323
Change - -51.82% 51.78% -7.74% -18.07% 26.41% -2.21% -1.77%
P/E 54.1x 30.4x 44.7x 49x 40.5x 41.1x 35.7x 31.9x
PBR 14.9x 6.5x 8.98x 8.83x 5.95x 7.91x 6.91x 6.11x
PEG - -2.8x 23.04x -3.2x 27.09x 1.6x 2.4x 2.7x
Capitalization / Revenue 12.3x 6.04x 8.83x 8.2x 6.44x 7.34x 6.91x 6.43x
EV / Revenue 12.3x 5.8x 8.61x 8.1x 6.25x 7.19x 6.62x 6.05x
EV / EBITDA 39.3x 19x 30.7x 32.2x 24.2x 25.8x 22.8x 20.1x
EV / EBIT 45.6x 22x 36.8x 40.9x 30.9x 32x 28x 24.5x
EV / FCF 105x 38.1x 61.3x 84.8x 41x 53.4x 42.8x 32.2x
FCF Yield 0.95% 2.63% 1.63% 1.18% 2.44% 1.87% 2.33% 3.11%
Dividend per Share 2 0.69 0.74 0.78 0.82 0.85 0.9025 0.9729 1.121
Rate of return 0.15% 0.31% 0.22% 0.25% 0.31% 0.26% 0.28% 0.32%
EPS 2 8.67 7.73 7.88 6.69 6.79 8.575 9.865 11.04
Distribution rate 7.96% 9.57% 9.9% 12.3% 12.5% 10.5% 9.86% 10.2%
Net sales 1 2,832 2,887 2,950 2,893 3,074 3,375 3,587 3,854
EBITDA 1 884.7 882.6 827.9 728.2 793.8 940.4 1,041 1,159
EBIT 1 762.4 762 690.6 572.8 622.4 757.5 848.4 952.3
Net income 1 661.8 585.9 593.4 492.7 493.7 614.5 701.2 778
Net Debt 1 - -685.4 -647.1 -282 -588.5 -503.3 -1,039 -1,458
Reference price 2 469.01 235.35 352.12 327.56 275.14 352.13 352.13 352.13
Nbr of stocks (in thousands) 74,080 74,033 73,990 72,422 71,943 70,376 - -
Announcement Date 2/17/22 2/16/23 2/15/24 2/13/25 2/12/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
41.06x7.19x25.82x0.26% 24.78B
31.17x4.22x16.33x2.37% 188B
20.26x3.52x12.36x3.33% 114B
17.8x0.21x12.82x0.73% 62.02B
32.06x8.01x20.38x1.24% 55.26B
34.83x3.35x11.39x2.18% 48.93B
35.13x6.18x19.4x-.--% 33.08B
41.87x1.26x11.45x0.17% 29.66B
20.49x3.09x11.59x1.43% 23.91B
25.73x3.88x13.52x1.11% 23.29B
Average 30.04x 4.09x 15.51x 1.28% 60.33B
Weighted average by Cap. 28.62x 3.98x 15.21x 1.85%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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