WST FY 2020 Earnings Report — West Pharmaceutical Services, Inc. Revenue & Financial Results | Market Cap Arena

West Pharmaceutical Services, Inc.WST

FY 2020 Earnings

Reported February 23, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$2.1B	—	$1.8B	—	16.4%
Op. Income	$419M	—	$297M	—	41.0%
Gross Margin	35.8%	—	33.0%	—	2.7pp
Net Margin	16.1%	—	13.1%	—	3.0pp
EPS (Diluted)	$4.57	—	$3.21	—	42.4%
Free Cash Flow	$298M	—	$241M	—	23.8%

Revenue Flow

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.4B
GROSS PROFIT	$768M
R&D Expenses	$47M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$302M
Other Expenses	$0
Operating Expenses	$349M
Cost & Expenses	$1.7B
OPERATING INCOME	$419M
Interest Income	$1M
Interest Expense	$9M
Other Income/Expenses	-$300.0K
INCOME BEFORE TAX	$419M
Income Tax Expense	$73M
Net Income from Continuing Ops	$346M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$346M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$346M
D&A	$109M
EBIT	$410M
EBITDA	$519M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.4B
GROSS PROFIT	$768M
R&D Expenses	$47M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$302M
Other Expenses	$0
Operating Expenses	$349M
Cost & Expenses	$1.7B
OPERATING INCOME	$419M
Interest Income	$1M
Interest Expense	$9M
Other Income/Expenses	-$300.0K
INCOME BEFORE TAX	$419M
Income Tax Expense	$73M
Net Income from Continuing Ops	$346M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$346M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$346M
D&A	$109M
EBIT	$410M
EBITDA	$519M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$346M
Depreciation & Amortization	$109M
Stock-Based Compensation	$34M
Deferred Income Tax	-$6M
Other Non-Cash Items	-$700.0K
Change in Working Capital	-$10M
OPERATING CASH FLOW	$473M
Capital Expenditure	-$174M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$5M
NET CASH FROM INVESTING	-$180M
Net Debt Issuance	-$2M
Common Stock Repurchased	-$121M
Common Dividends Paid	-$48M
Other Financing Activities	$35M
NET CASH FROM FINANCING	-$137M
FREE CASH FLOW	$298M
Net Change in Cash	$176M

Balance Sheet

Item	Amount
Cash & Equivalents	$616M
Short-Term Investments	$0
Net Receivables	$385M
Inventory	$321M
Other Current Assets	$52M
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$1.0B
Goodwill	$111M
Intangible Assets	$31M
Long-Term Investments	$215M
Tax Assets	$16M
Other Non-Current Assets	$36M
TOTAL NON-CURRENT ASSETS	$1.4B
TOTAL ASSETS	$2.8B
Account Payables	$213M
Short-Term Debt	$2M
Deferred Revenue	$51M
Other Current Liabilities	$50M
TOTAL CURRENT LIABILITIES	$503M
Long-Term Debt	$253M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$10M
Other Non-Current Liabilities	$112M
TOTAL NON-CURRENT LIABILITIES	$436M
TOTAL LIABILITIES	$939M
Common Stock	$19M
Additional Paid-In Capital	$267M
Retained Earnings	$1.8B
Treasury Stock	-$168M
Accum. Other Comp. Income	-$111M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.9B
Minority Interest	$0
TOTAL EQUITY	$1.9B
TOTAL LIABILITIES & EQUITY	$2.8B
Total Debt	$326M
Net Debt	-$290M