West Pharmaceutical Services (WST) Gross Margin (2009 - 2026)
West Pharmaceutical Services' (WST) quarterly Gross Margin came in at 37.74% in Q2 2026, up 201.0% year-over-year from 12.54% in Q2 2025, and up 7.58% quarter-over-quarter from 35.08% in Q1 2026.
Powered by 
Analysis
West Pharmaceutical Services (WST) Gross Margin (2009 - 2026) Analysis & Trends
West Pharmaceutical Services has disclosed Gross Margin across 18 years of filings, most recently posting 37.74% for Q2 2026.
- In Q2 2026, Gross Margin rose 201.0% year-over-year to 37.74%; the TTM figure through Jun 2026 stood at 36.79% (up 151.0% YoY), while the FY2025 annual figure was 35.91%, up 140.0% from the prior year.
- Gross Margin came in at 37.74% for Q2 2026 at West Pharmaceutical Services, up from 35.08% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 41.68% in Q2 2022 to a low of 32.76% in Q2 2024.
- Average Gross Margin over 5 years is 36.9%, with a median of 37.36% recorded in 2026.
- Year-over-year, Gross Margin plunged 590 bps in 2024 and surged 297 bps in 2025.
- Over 5 years, Gross Margin stood at 36.98% in 2022, then grew by 3 bps to 38.01% in 2023, then declined by 4 bps to 36.54% in 2024, then advanced by 3 bps to 37.75% in 2025, then retreated by 0 bps to 37.74% in 2026.
- Per Business Quant data, the three most recent Gross Margin figures were 37.74% in Q2 2026, 35.08% in Q1 2026, and 37.75% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Becton Dickinson | 48.41 Bn | 47.55 Bn | 2.32 Bn | 46.46% |
| 2 | Medline | 27.78 Bn | 25.10 Bn | 2.22 Bn | 28.82% |
| 3 | West Pharmaceutical Services | 24.42 Bn | 23.98 Bn | 329.20 Mn | 37.74% |
| 4 | Baxter International | 12.49 Bn | 10.34 Bn | 1.03 Bn | 34.86% |
| 5 | Stevanato Group S.p.A | 5.70 Bn | 5.59 Bn | 100.91 Mn | 28.75% |
| 6 | Acme United | 235.29 Mn | 230.25 Mn | 26.69 Mn | 42.55% |
| 7 | Rockwell Medical | 31.39 Mn | 6.60 Mn | 3.24 Mn | 18.24% |
| 8 | Retractable Technologies | 21.15 Mn | -18.72 Mn | 190,852.00 | 2.65% |
| 9 | United Health Products | 8.85 Mn | 8.82 Mn | - | - |
| 10 | Cuprina Holdings (Cayman) | 7.88 Mn | 4.76 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 37.74% |
| Mar 31, 2026 | 35.08% |
| Dec 31, 2025 | 37.75% |
| Sep 30, 2025 | 36.58% |
| Jun 30, 2025 | 35.73% |
| Mar 31, 2025 | 33.22% |
| Dec 31, 2024 | 36.54% |
| Sep 30, 2024 | 35.44% |
| Jun 30, 2024 | 32.76% |
| Mar 31, 2024 | 33.10% |
| Dec 31, 2023 | 38.01% |
| Sep 30, 2023 | 38.57% |
| Jun 30, 2023 | 38.66% |
| Mar 31, 2023 | 37.86% |
| Dec 31, 2022 | 36.98% |
| Sep 30, 2022 | 39.02% |
| Jun 30, 2022 | 41.68% |
| Mar 31, 2022 | 39.53% |
| Dec 31, 2021 | 41.13% |
| Sep 30, 2021 | 40.79% |