WST FY 2016 Earnings Report — West Pharmaceutical Services, Inc. Revenue & Financial Results | Market Cap Arena

West Pharmaceutical Services, Inc.WST

FY 2016 Earnings

Reported February 28, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$1.5B	—	$1.4B	—	7.9%
Op. Income	$216M	—	$126M	—	71.4%
Gross Margin	33.2%	—	32.5%	—	0.7pp
Net Margin	9.5%	—	6.8%	—	2.7pp
EPS (Diluted)	$1.91	—	$1.30	—	46.9%
Free Cash Flow	$49M	—	$81M	—	-39.1%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$1.0B
GROSS PROFIT	$501M
R&D Expenses	$37M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$240M
Other Expenses	$9M
Operating Expenses	$286M
Cost & Expenses	$1.3B
OPERATING INCOME	$216M
Interest Income	$1M
Interest Expense	$6M
Other Income/Expenses	-$18M
INCOME BEFORE TAX	$198M
Income Tax Expense	$54M
Net Income from Continuing Ops	$144M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$144M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$144M
D&A	$91M
EBIT	$196M
EBITDA	$287M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$1.0B
GROSS PROFIT	$501M
R&D Expenses	$37M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$240M
Other Expenses	$9M
Operating Expenses	$286M
Cost & Expenses	$1.3B
OPERATING INCOME	$216M
Interest Income	$1M
Interest Expense	$6M
Other Income/Expenses	-$18M
INCOME BEFORE TAX	$198M
Income Tax Expense	$54M
Net Income from Continuing Ops	$144M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$144M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$144M
D&A	$91M
EBIT	$196M
EBITDA	$287M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$144M
Depreciation & Amortization	$91M
Stock-Based Compensation	$20M
Deferred Income Tax	$22M
Other Non-Cash Items	$3M
Change in Working Capital	-$59M
OPERATING CASH FLOW	$219M
Capital Expenditure	-$170M
Acquisitions (Net)	$0
Purchases of Investments	-$8M
Sales/Maturities of Investments	$0
Other Investing Activities	$3M
NET CASH FROM INVESTING	-$176M
Net Debt Issuance	-$70M
Common Stock Repurchased	-$56M
Common Dividends Paid	-$36M
Other Financing Activities	$48M
NET CASH FROM FINANCING	-$114M
FREE CASH FLOW	$49M
Net Change in Cash	-$72M

Balance Sheet

Item	Amount
Cash & Equivalents	$203M
Short-Term Investments	$0
Net Receivables	$201M
Inventory	$199M
Other Current Assets	$39M
TOTAL CURRENT ASSETS	$642M
PP&E (Net)	$778M
Goodwill	$103M
Intangible Assets	$23M
Long-Term Investments	$83M
Tax Assets	$66M
Other Non-Current Assets	$21M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$1.7B
Account Payables	$122M
Short-Term Debt	$2M
Deferred Revenue	$13M
Other Current Liabilities	$18M
TOTAL CURRENT LIABILITIES	$241M
Long-Term Debt	$226M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$9M
Other Non-Current Liabilities	$123M
TOTAL NON-CURRENT LIABILITIES	$358M
TOTAL LIABILITIES	$599M
Common Stock	$18M
Additional Paid-In Capital	$260M
Retained Earnings	$1.1B
Treasury Stock	-$46M
Accum. Other Comp. Income	-$187M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$1.7B
Total Debt	$229M
Net Debt	$26M