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 25,362 - -
Change - -49.85% 49.53% -8.95% -16.56% 28.13% - -
Enterprise Value (EV) 1 34,744 16,738 25,406 23,441 19,206 24,854 24,621 24,310
Change - -51.82% 51.78% -7.74% -18.07% 29.41% -0.94% -1.26%
P/E 54.1x 30.4x 44.7x 49x 40.5x 42.7x 37.3x 33.2x
PBR 14.9x 6.5x 8.98x 8.83x 5.95x 8.11x 7.15x 6.29x
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 7.61x 7.17x 6.69x
EV / Revenue 12.3x 5.8x 8.61x 8.1x 6.25x 7.46x 6.96x 6.41x
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 29.9x 26.4x
EV / FCF 105x 38.1x 61.3x 84.8x 41x 54.2x 45.6x 37.5x
FCF Yield 0.95% 2.63% 1.63% 1.18% 2.44% 1.85% 2.19% 2.66%
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% 0.3%
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 2 469.01 235.35 352.12 327.56 275.14 359.00 359.00 359.00
Nbr of stocks (in thousands) 74,080 74,033 73,990 72,422 71,943 70,648 - -
Announcement Date 17/02/22 16/02/23 15/02/24 13/02/25 12/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
42.66x7.46x26.92x0.24% 2.54TCr
22.34x3.25x12.12x2.86% 16TCr
18.26x3.22x11.31x3.69% 10TCr
16.5x0.18x11.68x0.8% 5.77TCr
31.96x7.77x20.31x1.25% 5.23TCr
38.59x3.08x10.51x2.49% 4.27TCr
37.81x1.38x12.14x0.26% 3.34TCr
29.71x5.26x16.78x-.--% 2.81TCr
48.05x6.45x20.7x0.45% 2.1TCr
23.26x3.41x12.24x1.25% 2.06TCr
Average 30.91x 4.15x 15.47x 1.33% 5.4TCr
Weighted average by Cap. 26.48x 3.66x 13.86x 2.02%

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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