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The financials
West Pharmaceutical Services by the numbers
West Pharmaceutical Services (WST) reported revenue of $845M in Q1 2026 (quarter ended Mar 31, 2026), up 21% from the same quarter a year earlier. That came with a gross margin of 35% and net income of $139M (16% of revenue). For the full year FY2025, revenue was $3.07B (+6.3% year on year) and net income $494M. Its largest segment in Jun 2026 was Proprietary Products at $723M, 83% of the disclosed total, well ahead of West Vantage at 17%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $845M | $698M | +21% |
| Gross profit | $296M | $232M | +28% |
| Operating income | $177M | $107M | +66% |
| Net income | $139M | $90M | +55% |
| Diluted EPS | $1.92 | $1.23 | +56% |
| Operating | Revenue | Share |
|---|---|---|
| Proprietary Products | $723M | 83% |
| West Vantage | $150M | 17% |
Business Segments
Revenue split by operating segment, from SEC XBRL filings.
Latest period: Jun 2026Total $872.3M (+3.2%)
Proprietary Products grew +17% year on yearWest Vantage +2.0% year on year
Segment Latestquarter on quarteryear on year
- Proprietary Products$722.6M$722.6MQoQ +4.1%year on year +17%+4.1%+17%
- West Vantage$149.7M$149.7MQoQ -0.60%year on year +2.0%-0.60%+2.0%
Medical Instruments & Supplies
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