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 25,309 - -
Change - -49.85% 49.53% -8.95% -16.56% 27.86% - -
Enterprise Value (EV) 1 34,744 16,738 25,406 23,441 19,206 24,801 24,568 24,256
Change - -51.82% 51.78% -7.74% -18.07% 29.13% -0.94% -1.27%
P/E 54.1x 30.4x 44.7x 49x 40.5x 42.6x 37.2x 33.1x
PBR 14.9x 6.5x 8.98x 8.83x 5.95x 8.09x 7.14x 6.28x
PEG - -2.8x 23.04x -3.2x 27.09x 1.8x 2.6x 2.6x
Capitalization / Revenue 12.3x 6.04x 8.83x 8.2x 6.44x 7.59x 7.16x 6.67x
EV / Revenue 12.3x 5.8x 8.61x 8.1x 6.25x 7.44x 6.95x 6.4x
EV / EBITDA 39.3x 19x 30.7x 32.2x 24.2x 26.9x 24.2x 21.5x
EV / EBIT 45.6x 22x 36.8x 40.9x 30.9x 33.5x 29.8x 26.3x
EV / FCF 105x 38.1x 61.3x 84.8x 41x 54x 45.5x 37.5x
FCF Yield 0.95% 2.63% 1.63% 1.18% 2.44% 1.85% 2.2% 2.67%
Dividend per Share 2 0.69 0.74 0.78 0.82 0.85 0.8774 0.9571 1.094
Rate of return 0.15% 0.31% 0.22% 0.25% 0.31% 0.24% 0.27% 0.31%
EPS 2 8.67 7.73 7.88 6.69 6.79 8.416 9.619 10.82
Distribution rate 7.96% 9.57% 9.9% 12.3% 12.5% 10.4% 9.95% 10.1%
Net sales 1 2,832 2,887 2,950 2,893 3,074 3,333 3,537 3,792
EBITDA 1 884.7 882.6 827.9 728.2 793.8 923.3 1,017 1,129
EBIT 1 762.4 762 690.6 572.8 622.4 741.1 823.5 922
Net income 1 661.8 585.9 593.4 492.7 493.7 604.2 685.6 764.8
Net Debt 1 - -685.4 -647.1 -282 -588.5 -508.1 -741.3 -1,052
Reference price 2 469.01 235.35 352.12 327.56 275.14 358.24 358.24 358.24
Nbr of stocks (in thousands) 74,080 74,033 73,990 72,422 71,943 70,648 - -
Announcement Date 2/17/22 A 2/16/23 A 2/15/24 A 2/13/25 A 2/12/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
43.07x7.53x27.18x0.24% 25.31B
25.6x3.46x13.25x2.51% 175B
18.96x3.32x11.67x3.56% 106B
17.13x0.19x12.1x0.77% 59.91B
31.6x7.68x20.07x1.27% 51.95B
39.85x3.15x10.75x2.41% 43.58B
39.41x1.42x12.54x0.25% 33.65B
31.86x5.68x18.11x-.--% 29.58B
24.33x3.55x12.77x1.19% 21.23B
47.64x6.4x20.55x0.46% 20.68B
Average 31.94x 4.24x 15.90x 1.26% 56.77B
Weighted average by Cap. 27.78x 3.74x 14.34x 1.91%

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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