Question 1

What is West Pharmaceutical Services's P/B ratio?

Accepted Answer

West Pharmaceutical Services (WST) P/B ratio is 8.7× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for West Pharmaceutical Services?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For West Pharmaceutical Services specifically, the relevant sector benchmark is the current sector median of 3.2×.

Question 5

Is West Pharmaceutical Services's P/B ratio high or low?

Accepted Answer

West Pharmaceutical Services's P/B ratio of 8.7× is below its own 5-year average of 9.2× and above the sector median of 3.2×. That places the current reading at the 44th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is West Pharmaceutical Services's historical P/B ratio range?

Accepted Answer

In the available daily series, West Pharmaceutical Services (WST) P/B ratio has ranged from a low of 1.4× in 2003 to a high of 17.4× in 2021. The 5-year average is 9.2× and the 5-year median is 9.1×.

Question 7

What was West Pharmaceutical Services's P/B ratio in 2025?

Accepted Answer

West Pharmaceutical Services (WST) P/B ratio at the end of 2025 was 6.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does West Pharmaceutical Services's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$19.9B	$3.18B	6.3×	-2.7×	Dec 31, 2025
2024	$23.9B	$2.68B	8.9×	-0.1×	Dec 31, 2024
2023	$26.1B	$2.88B	9.1×	+2.5×	Dec 31, 2023
2022	$17.5B	$2.68B	6.5×	-8.4×	Dec 31, 2022
2021	$34.9B	$2.34B	15.0×	+3.7×	Dec 31, 2021
2020	$21B	$1.85B	11.3×	+4.2×	Dec 31, 2020
2019	$11.1B	$1.57B	7.1×	+1.9×	Dec 31, 2019
2018	$7.24B	$1.4B	5.2×	-0.5×	Dec 31, 2018
2017	$7.32B	$1.28B	5.7×	+0.2×	Dec 31, 2017
2016	$6.21B	$1.12B	5.6×	+1.3×	Dec 31, 2016
2015	$4.35B	$1.02B	4.3×	+0.3×	Dec 31, 2015
2014	$3.8B	$957M	4.0×	+0.2×	Dec 31, 2014
2013	$3.44B	$906M	3.8×	+1.2×	Dec 31, 2013
2012	$1.87B	$729M	2.6×	+0.6×	Dec 31, 2012
2011	$1.29B	$655M	2.0×	-0.2×	Dec 31, 2011
2010	$1.38B	$626M	2.2×	-0.0×	Dec 31, 2010
2009	$1.3B	$579M	2.2×	-0.3×	Dec 31, 2009
2008	$1.24B	$487M	2.5×	-0.2×	Dec 31, 2008
2007	$1.31B	$485M	2.7×	-1.3×	Dec 31, 2007
2006	$1.68B	$415M	4.0×	+1.7×	Dec 31, 2006
2005	$795M	$334M	2.4×	-0.2×	Dec 31, 2005
2004	$767M	$301M	2.5×	+0.6×	Dec 31, 2004
2003	$499M	$258M	1.9×	+0.2×	Dec 31, 2003
2002	$353M	$202M	1.8×	—	Dec 31, 2002


Charles River (CRL)	2.6×
Danaher (DHR)	2.6×
Spruce Biosciences (SPRB)	2.6×
Regeneron Pharmaceuticals (REGN)	2.6×
Henry Schein (HSIC)	2.5×
Labcorp Holdings (LH)	2.5×
Solventum (SOLV)	2.3×
Medtronic (MDT)	2.2×
Elevance Health (ELV)	1.9×
Becton, Dickinson and (BDX)	1.8×
Pfizer (PFE)	1.8×
Cigna (CI)	1.7×
Waters Corporation (WAT)	1.6×
Cooper Companies (COO)	1.5×
Universal Health Services (UHS)	1.5×
Biogen (BIIB)	1.4×
Baxter International (BAX)	1.4×
Zimmer Biomet Holdings (ZBH)	1.4×
Revvity (RVTY)	1.4×
CVS Health (CVS)	1.2×
Humana (HUM)	1.1×
Viatris (VTRS)	1.1×
Ovid Therapeutics (OVID)	0.8×
Centene (CNC)	0.8×
Teladoc Health (TDOC)	0.7×

P/B Ratio for West Pharmaceutical Services (WST) 2002-2026

P/B Ratio daily chart for West Pharmaceutical Services (WST)

Historical P/B Ratio for West Pharmaceutical Services (WST) from 2002 to 2025

About P/B Ratio at West Pharmaceutical Services (WST)

West Pharmaceutical Services P/B Ratio by Year

West Pharmaceutical Services P/B Ratio 2025: 6.3×

West Pharmaceutical Services P/B Ratio 2024: 8.9×

West Pharmaceutical Services P/B Ratio 2023: 9.1×

West Pharmaceutical Services P/B Ratio 2022: 6.5×

West Pharmaceutical Services P/B Ratio 2021: 15.0×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

West Pharmaceutical Services (WST) Key Financials