Framework Journal · one stock, one dated entry

Recorded 2026-07-29 · Permanent

West Pharmaceutical Services logoWest Pharmaceutical Services WST

Clears both ethical standards

An entry written while the outcome is still unknown. It will be scored by what the market does next, and it will never be edited to look cleverer than it was.

In plain words · West Pharmaceutical Services, Inc.

The label
Markup

read at $337.00

West Pharmaceutical Services holds its Markup at $337.00.

PHINPOOPSC
  • PHPhase · the trend structure carries the Markup label
  • INInsiders · no filings inside 60 days, left as found
  • POPositioning · no disclosures inside 60 days, left as found
  • OPOptions · no verdict drawn today, left as found
  • SCScreen · passes the values gate
  • edge confirmed
  • edge broken
  • edge forming

Each arm is one independent read. Conviction is not a single call, it is how many edges converge.

The investor read · the season, not the day

As held on the ledger · 2026-07-29
PhaseMarkup
Quantitative stateThe statistical read favours the sellers, held for 22 days
Price$337.00
Valuation42.39 trailing · 33.91 forward price to earnings
Values screenPASS · score 85.8
Beta1.16

The opportunity · what the numbers say it is worth

Our framework reads OVERVALUED — it trades above our $314.32 fair value estimate, moderate competitive moat, 13.80% revenue growth.

Read at
$337.00
42.39 P/E · 33.91 fwd
Our fair value
$314.32
7% premium
Analyst target (avg)
$410.00
+22% to current
Target low $340.00Analyst target rangeTarget high $459.00
▲ current $337.00 · | average target

Price history & projections · where it has been, where the models see it going

$478$343$208TODAY5y agoPROJECTIONAnalyst high$459.00 +39%Analyst avg$410.00 +24%Our fair value$314.32 -5%Conservative$306.00 -8%

The valuation journey · where the price sits against fair value and the Street

Current
$337.00
you are here
Conservative
$306.00
-9%
Analyst avg
$410.00
+22%
Our fair value
$314.32
-7%
Analyst high
$459.00
+36%

Green marks levels above today's price, red below; the shaded band is the gap between the price and our fair value.

Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish — a quality-at-a-fair-price name rather than a deep-value one.

Revenue growth13.80%
Profit margin16.98%
Debt to equity10.59
Analyst consensusStrong Buy · 15 covering

Fair value and rating are our own model estimates; target range reflects third-party analyst estimates. Analysis, not advice.

The values screen, explained · five checks, plain English

This company clears both standards. There are two widely recognised ways to check whether a company is suitable for a Muslim investor. Here is how it did on each:

The common standard · AAOIFI
Used by most halal investing apps
✓ PASSES
Our stricter standard · asset-based
The one Titan applies
✓ PASSES

What these two standards are, and how they differ →

  • Business activity Its core business isn't built on prohibited lines — no gambling, alcohol, tobacco, weapons, or interest-based lending. Pass
  • Debt load Interest-bearing debt is just 7.5% of its assets, well under the one-third ceiling — it does not run on borrowed money. Pass
  • Interest-bearing cash Cash held in interest-bearing accounts and securities is 5.0% of assets, under the one-third limit. Pass
  • Receivables Money owed to the company is 32.0% of assets, under the 49% limit. Pass
  • Revenue purity Only 0.6% of revenue comes from non-compliant sources — under the 5% line. Pass

Every security is read against two recognised standards: our stricter asset-based screen (ratios measured against total assets) and the more widely used market-value standard (measured against market capitalisation). Where they agree we say so plainly; where they part ways — almost always on the debt check — we show both readings and mark it, because that disagreement is the finding, not a fault. We report the score; you and your scholar make the call.

The business, in plain words · what the numbers mean

The quiet supplier behind every safe injection

Every time a biologic reaches a patient, it travels inside packaging that must not fail. West Pharmaceutical Services builds those vials and delivery systems across the Americas, Europe and Asia, posting 21% revenue growth, 17% profit margins and 19% ROE.

Those results are respectable, yet the shares sit 16% above our fair value at a 37 times forward earnings multiple. The market is already paying for strong growth that may not repeat at the same pace, leaving the stock overvalued on plain numbers.

A moderate moat and clean ethical screen reduce some concerns, but high valuation still leaves investors exposed if drug spending slows or input costs rise. Analysis, not advice.

The fundamentals · plain-English read
Forward P/E33.9x
expensive even after accounting for its growth
Trailing P/E42.4x
expensive — the price assumes strong growth ahead
Revenue growth13.8%
steady growth
Profit margin17.0%
healthy profit margins
Return on equity19.1%
a solid return on shareholder capital
Debt to equity0.11
minimal debt — a conservative balance sheet
Current ratio2.82
comfortably covers its short-term bills
Beta1.16
moves a little more than the market
Market cap$23.7B
Employees10,800

The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.

Plain-English interpretation of our own screen data. Analysis, not advice.

Latest news · what the market is reading on WST

Headlines from third-party outlets, linked for reference — not our reporting, not advice.

Related securities · others in WST's space worth a look

Screened names in the same industry · explore each on its own page.

Where & how to trade · wherever in the world you are

WST trades on a US exchange. As a US-listed security it is accessible through almost any international broker offering US markets. New to this, or investing from outside the US? Our guide to accessing global markets covers brokers, currencies and the practical steps.

The trader read · the latest dated commentary

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 46%. Our forward projection puts the odds of a 10% gain over the next month near 26%. The street (13 analysts) rates it buy, with a mean price target of $350. Entered 2026-07-18 · Accumulation

The dated journal · newest first, never edited

2026-07-18 Accumulation $314.50 +0.0% Entry 3

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 46%. Our forward projection puts the odds of a 10% gain over the next month near 26%. The street (13 analysts) rates it buy, with a mean price target of $350.

2026-07-03 Accumulation $314.50 +0.0% Entry 2

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns.

2026-07-02 Accumulation $314.50 Entry 1

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns.

Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.

The insider ledger · Form 4 filings, as filed

Most recent filings · WST
DateInsiderTitleTypeSharesValue
2026-05-12 CAMPBELL SHANE ALDEN Officer 769 ·
2026-05-04 LOCKHART STEPHEN H Director 791 ·
2026-05-04 KELLER DEBORAH L Director 791 ·
2026-05-04 JOSEPH MOLLY E. Director 791 ·
2026-05-04 FEEHERY WILLIAM F. Director 791 ·
2026-05-04 MICHELS DOUGLAS A Director 791 ·
2026-05-04 PUCCI PAOLO Director 791 ·
2026-05-04 BUTHMAN MARK A Director 791 ·
2026-05-04 FRIEL ROBERT F Director 791 ·
2026-05-04 HAUGEN JANET BRUTSCHEA Director 791 ·

Public filings, recorded as found. The full tape lives at Insider Intelligence.

What holding actually paid · price plus dividends

If $1,000 had been placed · historical, not a promise
PeriodPrice thenPrice returnDivs per share$1,000 becameTotal return
1 month $322.30 +2.7% · $1,027 +2.7%
2 months $256.36 +29.1% $0.22 $1,292 +29.2%
3 months $230.92 +43.3% $0.22 $1,434 +43.4%
6 months $272.09 +21.6% $0.44 $1,218 +21.8%
1 year $226.95 +45.8% $0.87 $1,462 +46.2%
2 years $317.88 +4.1% $1.70 $1,046 +4.6%
3 years $345.37 -4.2% $2.49 $965 -3.5%
5 years $340.89 -2.9% $3.95 $982 -1.8%

Historical returns from market close data. Past performance does not guarantee future results.

This entry now belongs to the ledger. Whatever WST does next, these words stay.

West Pharmaceutical Services · WST · Markup · $337.00
Recorded 2026-07-29 · before the outcome · scored mechanically

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