West Pharmaceutical Services (WST) Operating Margin (2009 - 2026)
West Pharmaceutical Services (WST) posted Operating Margin of 20.53% for Q2 2026, down 2.05% sequentially from 20.96% in Q1 2026, and up 48.0% YoY from 13.87% in Q2 2025.
West Pharmaceutical Services (WST) Operating Margin (2009 - 2026) Analysis & Trends
West Pharmaceutical Services has reported Operating Margin for 18 years, with the latest figure at 20.53% in Q2 2026.
- Quarterly Operating Margin rose 48.0% year-over-year to 20.53% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 20.45% (up 80.0% YoY) and the FY2025 annual result came in at 19.03%, down 67.0% from the prior year.
- Operating Margin retreated to 20.53% in Q2 2026 per WST's latest filing, from 20.96% in the prior quarter.
- Over five years, Operating Margin peaked at 29.61% in Q2 2022 and troughed at 15.33% in Q1 2025.
- A 5-year average of 21.59% and a median of 21.14% in 2024 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2022 and 2026: Operating Margin sank 688 bps in 2022, then jumped 563 bps in 2026.
- Over 5 years, Operating Margin stood at 18.3% in 2022, then climbed by 20 bps to 21.98% in 2023, then slipped by 3 bps to 21.31% in 2024, then fell by 9 bps to 19.45% in 2025, then advanced by 6 bps to 20.53% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 20.53%, 20.96%, and 19.45% for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Intuitive Surgical | 132.71 Bn | 127.50 Bn | 1.96 Bn | 33.60% |
| 2 | Becton Dickinson | 51.57 Bn | 50.71 Bn | 2.32 Bn | 13.31% |
| 3 | Alcon | 35.52 Bn | 34.17 Bn | 1.68 Bn | 0.39% |
| 4 | Resmed | 33.28 Bn | 31.81 Bn | 861.22 Mn | 30.66% |
| 5 | Medline | 27.86 Bn | 25.18 Bn | 2.22 Bn | 5.14% |
| 6 | West Pharmaceutical Services | 25.15 Bn | 24.71 Bn | 329.20 Mn | 20.53% |
| 7 | Solventum | 15.31 Bn | 14.91 Bn | 1.29 Bn | 8.19% |
| 8 | Cooper Companies | 14.86 Bn | 14.72 Bn | 735.40 Mn | -2.87% |
| 9 | Baxter International | 13.63 Bn | 11.48 Bn | 1.03 Bn | 7.33% |
| 10 | Align Technology | 11.37 Bn | 10.27 Bn | 757.43 Mn | 14.58% |
Historic Data
Download 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% |