West Pharmaceutical Services Inc (WST)
Pretax margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 715,700 | 676,100 | 626,400 | 669,200 | 700,600 | 750,600 | 797,200 | 784,100 | 769,000 | 705,900 | 621,700 | 509,300 | 418,700 | 380,300 | 344,100 | 318,500 | 300,700 | 287,200 | 283,200 | 263,700 |
| Revenue (ttm) | US$ in thousands | 2,931,600 | 2,918,300 | 2,862,000 | 2,884,600 | 2,888,000 | 2,911,600 | 2,929,000 | 2,882,500 | 2,833,200 | 2,681,100 | 2,521,700 | 2,320,600 | 2,141,400 | 2,030,200 | 1,941,400 | 1,887,900 | 1,839,900 | 1,791,800 | 1,767,400 | 1,745,200 |
| Pretax margin | 24.41% | 23.17% | 21.89% | 23.20% | 24.26% | 25.78% | 27.22% | 27.20% | 27.14% | 26.33% | 24.65% | 21.95% | 19.55% | 18.73% | 17.72% | 16.87% | 16.34% | 16.03% | 16.02% | 15.11% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $715,700K ÷ $2,931,600K
= 24.41%
The pretax margin of West Pharmaceutical Services, Inc. has displayed some fluctuations over the past eight quarters. In Q4 2023, the pretax margin was 24.26%, showing a slight increase from the previous quarter. However, compared to Q3 2022, the pretax margin has decreased by 1.54 percentage points.
Overall, the company has maintained a relatively stable pretax margin above 20% in the recent quarters, indicating efficient cost management and profitability before taxes. It is crucial for West Pharmaceutical Services, Inc. to continue monitoring and managing its operating expenses effectively to sustain and potentially improve its pretax margin in the future.
Peer comparison
Dec 31, 2023