WST FY 2019 Earnings Report — West Pharmaceutical Services, Inc. Revenue & Financial Results | Market Cap Arena

West Pharmaceutical Services, Inc.WST

FY 2019 Earnings

Reported February 21, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$1.8B	—	$1.7B	—	7.3%
Op. Income	$297M	—	$255M	—	16.6%
Gross Margin	33.0%	—	31.8%	—	1.2pp
Net Margin	13.1%	—	12.0%	—	1.1pp
EPS (Diluted)	$3.21	—	$2.74	—	17.2%
Free Cash Flow	$241M	—	$184M	—	30.9%

Revenue Flow

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.2B
GROSS PROFIT	$609M
R&D Expenses	$39M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$273M
Other Expenses	$0
Operating Expenses	$312M
Cost & Expenses	$1.5B
OPERATING INCOME	$297M
Interest Income	$4M
Interest Expense	$8M
Other Income/Expenses	$4M
INCOME BEFORE TAX	$301M
Income Tax Expense	$59M
Net Income from Continuing Ops	$242M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$242M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$242M
D&A	$103M
EBIT	$300M
EBITDA	$403M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.2B
GROSS PROFIT	$609M
R&D Expenses	$39M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$273M
Other Expenses	$0
Operating Expenses	$312M
Cost & Expenses	$1.5B
OPERATING INCOME	$297M
Interest Income	$4M
Interest Expense	$8M
Other Income/Expenses	$4M
INCOME BEFORE TAX	$301M
Income Tax Expense	$59M
Net Income from Continuing Ops	$242M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$242M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$242M
D&A	$103M
EBIT	$300M
EBITDA	$403M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$242M
Depreciation & Amortization	$103M
Stock-Based Compensation	$24M
Deferred Income Tax	$15M
Other Non-Cash Items	-$3M
Change in Working Capital	-$14M
OPERATING CASH FLOW	$367M
Capital Expenditure	-$126M
Acquisitions (Net)	-$104M
Purchases of Investments	-$85M
Sales/Maturities of Investments	$85M
Other Investing Activities	$2M
NET CASH FROM INVESTING	-$228M
Net Debt Issuance	$62M
Common Stock Repurchased	-$85M
Common Dividends Paid	-$45M
Other Financing Activities	$32M
NET CASH FROM FINANCING	-$37M
FREE CASH FLOW	$241M
Net Change in Cash	$102M

Balance Sheet

Item	Amount
Cash & Equivalents	$439M
Short-Term Investments	$0
Net Receivables	$319M
Inventory	$236M
Other Current Assets	$65M
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$909M
Goodwill	$108M
Intangible Assets	$30M
Long-Term Investments	$193M
Tax Assets	$14M
Other Non-Current Assets	$29M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$2.3B
Account Payables	$157M
Short-Term Debt	$2M
Deferred Revenue	$28M
Other Current Liabilities	$29M
TOTAL CURRENT LIABILITIES	$342M
Long-Term Debt	$255M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$16M
Other Non-Current Liabilities	$94M
TOTAL NON-CURRENT LIABILITIES	$427M
TOTAL LIABILITIES	$768M
Common Stock	$19M
Additional Paid-In Capital	$273M
Retained Earnings	$1.5B
Treasury Stock	-$118M
Accum. Other Comp. Income	-$150M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$0
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$2.3B
Total Debt	$329M
Net Debt	-$110M