West Pharmaceutical Services management check
WST · Health Care · Health Care Supplies · CEO Eric M. Green
Filings as of
3 good · 3 to watch · 1 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $59, against $118 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.97 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Watch
What does the CEO cost owners?
1.5% of net income$7.2m of reported pay in fiscal 2025, against $494.0m of net income.
- Watch
Do they own the stock?
Insiders are selling2 insiders sold $6.6m in the last six months and none bought. 3 of 8 sales ran on pre-arranged 10b5-1 plans.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -1.7% a year over the last three fiscal years. Stock-based pay was 0.8% of revenue in the latest year.
- Watch
Is leadership stable?
11 leadership filings in 3 yearsCEO in the pay table: Eric M. Green. 11 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Health Care.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 0 | 26 | |
| Pay for performance | 99 | 85 | |
| CEO cost | 36 | 44 | |
| Skin in the game | — | — | 46 |
| Dilution | 72 | 68 | |
| Stable leadership | 70 | 70 | |
| Clean books | 100 | 100 |
Closest peers
Others in Health Care Supplies, by management score. West Pharmaceutical Services is 32nd of 60 in its sector.
- 263PFEPfizer64
- 277VEEVVeeva Systems63
- 278WSTWest Pharmaceutical Services63
- 294RMDResMed62
- 331ALGNAlign Technology59
- 333COOCooper Companies (The)59
Pay versus performance
From the proxy statement filed March 12, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Eric M. Green | $7.2m | $4.1m | $3.8m | $59 | $118 | $494.0m |
| 2024 | — | $8.4m | $5.3m | $1.8m | $70 | $103 | $493.0m |
| 2023 | — | $9.4m | $17.0m | $2.1m | $75 | $100 | $593.0m |
| 2022 | — | $7.9m | −$12.1m | $1.8m | $50 | $98 | $586.0m |
| 2021 | — | $9.5m | $35.1m | $2.0m | $100 | $100 | $662.0m |
The board says pay is tied most to Revenue. Its other key measures: Earnings per Share, Operating Cash Flow, Consolidated Gross Profit, Sales Compounded Annual Growth Rate, Return on Invested Capital.
Insiders and the CEO's stake
2 insiders sold $6.6m in the last six months and none bought. 3 of 8 sales ran on pre-arranged 10b5-1 plans.
- SoldAnnette F FavoriteSr. VP & Chief HR Officer$6.3mSep 15, 2026
- SoldChad WintersVP, Chief Accounting Officer$269kApr 27, 2026
Leadership and governance on file
- Jun 1, 2026Leadership change8-K 5.02
- Mar 9, 2026Leadership change8-K 5.02
- Sep 11, 2025Leadership change8-K 5.02
- Jul 21, 2025Leadership change8-K 5.02
- May 12, 2025Leadership change8-K/A 5.02
- Apr 24, 2025Leadership change8-K 5.02
- Apr 14, 2025Leadership change8-K 5.02
- Mar 11, 2025Leadership change8-K 5.02
- Dec 11, 2024Leadership change8-K 5.02
- Oct 7, 2024Leadership change8-K 5.02
- Apr 26, 2024Leadership change8-K 5.02
- Jul 27, 2022Leadership change8-K 5.02
Latest shareholder vote results: May 5, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $1.8bn returned to owners in buybacks and dividends, 62% of net income, and $127.0m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $2.8bn | $2.9bn | $2.9bn | $2.9bn | $3.1bn |
| Net income | $661.8m | $585.9m | $593.4m | $492.7m | $493.7m |
| Stock-based pay | $37.5m | $23.7m | $23.3m | $18.7m | $23.8m |
| Buybacks | $137.1m | $202.8m | $438.3m | $560.9m | $134.0m |
| Dividends | $51.1m | $54.1m | $57.0m | $59.1m | $61.2m |
| Diluted shares | 76m | 76m | 75m | 74m | 73m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.