WST FY 2022 Earnings Report — West Pharmaceutical Services, Inc. Revenue & Financial Results | Market Cap Arena

West Pharmaceutical Services, Inc.WST

FY 2022 Earnings

Reported February 21, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$2.9B	—	$2.8B	—	1.9%
Op. Income	$764M	—	$759M	—	0.6%
Gross Margin	39.5%	—	41.5%	—	-2.0pp
Net Margin	20.3%	—	23.4%	—	-3.1pp
EPS (Diluted)	$7.73	—	$8.67	—	-10.8%
Free Cash Flow	$439M	—	$331M	—	32.9%

Revenue Flow

Item	Amount
REVENUE	$2.9B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.1B
R&D Expenses	$59M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$317M
Other Expenses	$0
Operating Expenses	$375M
Cost & Expenses	$2.1B
OPERATING INCOME	$764M
Interest Income	$5M
Interest Expense	$8M
Other Income/Expenses	-$63M
INCOME BEFORE TAX	$701M
Income Tax Expense	$115M
Net Income from Continuing Ops	$586M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$586M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$586M
D&A	$121M
EBIT	$688M
EBITDA	$808M
EPS	$8
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$2.9B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.1B
R&D Expenses	$59M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$317M
Other Expenses	$0
Operating Expenses	$375M
Cost & Expenses	$2.1B
OPERATING INCOME	$764M
Interest Income	$5M
Interest Expense	$8M
Other Income/Expenses	-$63M
INCOME BEFORE TAX	$701M
Income Tax Expense	$115M
Net Income from Continuing Ops	$586M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$586M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$586M
D&A	$121M
EBIT	$688M
EBITDA	$808M
EPS	$8
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$586M
Depreciation & Amortization	$121M
Stock-Based Compensation	$24M
Deferred Income Tax	-$31M
Other Non-Cash Items	$36M
Change in Working Capital	-$15M
OPERATING CASH FLOW	$724M
Capital Expenditure	-$285M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$4M
NET CASH FROM INVESTING	-$288M
Net Debt Issuance	-$44M
Common Stock Repurchased	-$222M
Common Dividends Paid	-$54M
Other Financing Activities	$27M
NET CASH FROM FINANCING	-$294M
FREE CASH FLOW	$439M
Net Change in Cash	$132M

Balance Sheet

Item	Amount
Cash & Equivalents	$894M
Short-Term Investments	$0
Net Receivables	$507M
Inventory	$415M
Other Current Assets	$103M
TOTAL CURRENT ASSETS	$1.9B
PP&E (Net)	$1.3B
Goodwill	$107M
Intangible Assets	$18M
Long-Term Investments	$205M
Tax Assets	$66M
Other Non-Current Assets	$38M
TOTAL NON-CURRENT ASSETS	$1.7B
TOTAL ASSETS	$3.6B
Account Payables	$215M
Short-Term Debt	$2M
Deferred Revenue	$57M
Other Current Liabilities	$54M
TOTAL CURRENT LIABILITIES	$519M
Long-Term Debt	$207M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$14M
Other Non-Current Liabilities	$99M
TOTAL NON-CURRENT LIABILITIES	$413M
TOTAL LIABILITIES	$932M
Common Stock	$19M
Additional Paid-In Capital	$232M
Retained Earnings	$3.0B
Treasury Stock	-$371M
Accum. Other Comp. Income	-$183M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.7B
Minority Interest	$0
TOTAL EQUITY	$2.7B
TOTAL LIABILITIES & EQUITY	$3.6B
Total Debt	$318M
Net Debt	-$576M