West Pharmaceutical Services (WST) Operating Margin (2009 - 2026)
West Pharmaceutical Services' (WST) quarterly Operating Margin came in at 20.53% in Q2 2026, up 48.0% year-over-year from 13.87% in Q2 2025, and down 2.05% quarter-over-quarter from 20.96% in Q1 2026.
Analysis
West Pharmaceutical Services (WST) Operating Margin (2009 - 2026) Analysis & Trends
West Pharmaceutical Services has disclosed Operating Margin across 18 years of filings, most recently posting 20.53% for Q2 2026.
- In Q2 2026, Operating Margin rose 48.0% year-over-year to 20.53%; the TTM figure through Jun 2026 stood at 20.45% (up 80.0% YoY), while the FY2025 annual figure was 19.03%, down 67.0% from the prior year.
- Operating Margin came in at 20.53% for Q2 2026 at West Pharmaceutical Services, down from 20.96% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 29.61% in Q2 2022 to a low of 15.33% in Q1 2025.
- Average Operating Margin over 5 years is 21.59%, with a median of 21.14% recorded in 2024.
- Year-over-year, Operating Margin plunged 688 bps in 2022 and soared 563 bps in 2026.
- Over 5 years, Operating Margin stood at 18.3% in 2022, then gained by 20 bps to 21.98% in 2023, then retreated by 3 bps to 21.31% in 2024, then dropped by 9 bps to 19.45% in 2025, then rose by 6 bps to 20.53% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 20.53% in Q2 2026, 20.96% in Q1 2026, and 19.45% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Becton Dickinson | 48.75 Bn | 47.89 Bn | 2.32 Bn | 13.31% |
| 2 | Medline | 28.16 Bn | 25.48 Bn | 2.22 Bn | 5.14% |
| 3 | West Pharmaceutical Services | 23.60 Bn | 23.17 Bn | 329.20 Mn | 20.53% |
| 4 | Baxter International | 12.50 Bn | 10.35 Bn | 1.03 Bn | 7.33% |
| 5 | Stevanato Group S.p.A | 5.56 Bn | 5.45 Bn | 100.91 Mn | 12.93% |
| 6 | Acme United | 233.52 Mn | 228.48 Mn | 26.69 Mn | 10.89% |
| 7 | Rockwell Medical | 29.73 Mn | 4.93 Mn | 3.24 Mn | -5.97% |
| 8 | Retractable Technologies | 20.96 Mn | -18.91 Mn | 190,852.00 | -71.46% |
| 9 | United Health Products | 8.85 Mn | 8.82 Mn | - | - |
| 10 | Cuprina Holdings (Cayman) | 7.68 Mn | 4.56 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 20.53% |
| Mar 31, 2026 | 20.96% |
| Dec 31, 2025 | 19.45% |
| Sep 30, 2025 | 20.83% |
| Jun 30, 2025 | 20.05% |
| Mar 31, 2025 | 15.33% |
| Dec 31, 2024 | 21.31% |
| Sep 30, 2024 | 21.60% |
| Jun 30, 2024 | 17.97% |
| Mar 31, 2024 | 17.66% |
| Dec 31, 2023 | 21.98% |
| Sep 30, 2023 | 23.72% |
| Jun 30, 2023 | 24.21% |
| Mar 31, 2023 | 21.67% |
| Dec 31, 2022 | 18.30% |
| Sep 30, 2022 | 27.11% |
| Jun 30, 2022 | 29.61% |
| Mar 31, 2022 | 26.35% |
| Dec 31, 2021 | 25.18% |
| Sep 30, 2021 | 25.68% |