WST FY 2017 Earnings Report — West Pharmaceutical Services, Inc. Revenue & Financial Results | Market Cap Arena

West Pharmaceutical Services, Inc.WST

FY 2017 Earnings

Reported February 26, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$1.6B	—	$1.5B	—	6.0%
Op. Income	$230M	—	$216M	—	6.6%
Gross Margin	32.2%	—	33.2%	—	-1.0pp
Net Margin	9.4%	—	9.5%	—	-0.1pp
EPS (Diluted)	$1.99	—	$1.91	—	4.2%
Free Cash Flow	$133M	—	$49M	—	169.3%

Revenue Flow

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$1.1B
GROSS PROFIT	$515M
R&D Expenses	$39M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$246M
Other Expenses	$0
Operating Expenses	$285M
Cost & Expenses	$1.4B
OPERATING INCOME	$230M
Interest Income	$1M
Interest Expense	$7M
Other Income/Expenses	$2M
INCOME BEFORE TAX	$232M
Income Tax Expense	$81M
Net Income from Continuing Ops	$151M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$151M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$151M
D&A	$97M
EBIT	$230M
EBITDA	$326M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$1.1B
GROSS PROFIT	$515M
R&D Expenses	$39M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$246M
Other Expenses	$0
Operating Expenses	$285M
Cost & Expenses	$1.4B
OPERATING INCOME	$230M
Interest Income	$1M
Interest Expense	$7M
Other Income/Expenses	$2M
INCOME BEFORE TAX	$232M
Income Tax Expense	$81M
Net Income from Continuing Ops	$151M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$151M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$151M
D&A	$97M
EBIT	$230M
EBITDA	$326M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$151M
Depreciation & Amortization	$97M
Stock-Based Compensation	$16M
Deferred Income Tax	$42M
Other Non-Cash Items	-$500.0K
Change in Working Capital	-$41M
OPERATING CASH FLOW	$263M
Capital Expenditure	-$131M
Acquisitions (Net)	-$6M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$3M
NET CASH FROM INVESTING	-$134M
Net Debt Issuance	-$35M
Common Stock Repurchased	-$74M
Common Dividends Paid	-$39M
Other Financing Activities	$39M
NET CASH FROM FINANCING	-$109M
FREE CASH FLOW	$133M
Net Change in Cash	$33M

Balance Sheet

Item	Amount
Cash & Equivalents	$236M
Short-Term Investments	$0
Net Receivables	$253M
Inventory	$215M
Other Current Assets	$39M
TOTAL CURRENT ASSETS	$744M
PP&E (Net)	$855M
Goodwill	$108M
Intangible Assets	$22M
Long-Term Investments	$86M
Tax Assets	$26M
Other Non-Current Assets	$23M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$1.9B
Account Payables	$138M
Short-Term Debt	$0
Deferred Revenue	$18M
Other Current Liabilities	$23M
TOTAL CURRENT LIABILITIES	$280M
Long-Term Debt	$197M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$10M
Other Non-Current Liabilities	$96M
TOTAL NON-CURRENT LIABILITIES	$303M
TOTAL LIABILITIES	$583M
Common Stock	$19M
Additional Paid-In Capital	$309M
Retained Earnings	$1.2B
Treasury Stock	-$109M
Accum. Other Comp. Income	-$117M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$197M
Net Debt	-$39M