vs
Side-by-side financial comparison of West Pharmaceutical Services (WST) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
West Pharmaceutical Services is the larger business by last-quarter revenue ($805.0M vs $677.3M, roughly 1.2× WATTS WATER TECHNOLOGIES INC). West Pharmaceutical Services runs the higher net margin — 16.4% vs 14.7%, a 1.7% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (21.4% vs 7.5%). West Pharmaceutical Services produced more free cash flow last quarter ($175.0M vs $6.6M). Over the past eight quarters, West Pharmaceutical Services's revenue compounded faster (7.6% CAGR vs 6.5%).
West Pharmaceutical Services, Inc. is a designer and manufacturer of injectable pharmaceutical packaging and delivery systems. Founded in 1923 by Herman O. West and J.R. Wike of Philadelphia, the company is headquartered in Exton, Pennsylvania. In its early years of development, West produced rubber components for packaging injectable drugs, providing a sterile environment for the producers of penicillin and insulin.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
WST vs WTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $805.0M | $677.3M |
| Net Profit | $132.1M | $99.6M |
| Gross Margin | 37.8% | 48.1% |
| Operating Margin | 19.5% | 19.6% |
| Net Margin | 16.4% | 14.7% |
| Revenue YoY | 7.5% | 21.4% |
| Net Profit YoY | 1.5% | 34.6% |
| EPS (diluted) | $1.82 | $2.97 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $677.3M | ||
| Q4 25 | $805.0M | $625.1M | ||
| Q3 25 | $804.6M | $611.7M | ||
| Q2 25 | $766.5M | $643.7M | ||
| Q1 25 | $698.0M | $558.0M | ||
| Q4 24 | $748.8M | $540.4M | ||
| Q3 24 | $746.9M | $543.6M | ||
| Q2 24 | $702.1M | $597.3M |
| Q1 26 | — | $99.6M | ||
| Q4 25 | $132.1M | $83.7M | ||
| Q3 25 | $140.0M | $82.2M | ||
| Q2 25 | $131.8M | $100.9M | ||
| Q1 25 | $89.8M | $74.0M | ||
| Q4 24 | $130.1M | $67.5M | ||
| Q3 24 | $136.0M | $69.1M | ||
| Q2 24 | $111.3M | $82.0M |
| Q1 26 | — | 48.1% | ||
| Q4 25 | 37.8% | 49.5% | ||
| Q3 25 | 36.6% | 48.8% | ||
| Q2 25 | 35.7% | 50.6% | ||
| Q1 25 | 33.2% | 48.8% | ||
| Q4 24 | 36.5% | 46.7% | ||
| Q3 24 | 35.4% | 47.3% | ||
| Q2 24 | 32.8% | 47.7% |
| Q1 26 | — | 19.6% | ||
| Q4 25 | 19.5% | 18.2% | ||
| Q3 25 | 20.8% | 18.2% | ||
| Q2 25 | 20.1% | 21.0% | ||
| Q1 25 | 15.3% | 15.7% | ||
| Q4 24 | 21.3% | 16.5% | ||
| Q3 24 | 21.6% | 17.1% | ||
| Q2 24 | 18.0% | 18.7% |
| Q1 26 | — | 14.7% | ||
| Q4 25 | 16.4% | 13.4% | ||
| Q3 25 | 17.4% | 13.4% | ||
| Q2 25 | 17.2% | 15.7% | ||
| Q1 25 | 12.9% | 13.3% | ||
| Q4 24 | 17.4% | 12.5% | ||
| Q3 24 | 18.2% | 12.7% | ||
| Q2 24 | 15.9% | 13.7% |
| Q1 26 | — | $2.97 | ||
| Q4 25 | $1.82 | $2.50 | ||
| Q3 25 | $1.92 | $2.45 | ||
| Q2 25 | $1.82 | $3.01 | ||
| Q1 25 | $1.23 | $2.21 | ||
| Q4 24 | $1.78 | $2.02 | ||
| Q3 24 | $1.85 | $2.06 | ||
| Q2 24 | $1.51 | $2.44 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $791.3M | $374.7M |
| Total DebtLower is stronger | $202.8M | $197.8M |
| Stockholders' EquityBook value | $3.2B | $2.1B |
| Total Assets | $4.3B | $2.9B |
| Debt / EquityLower = less leverage | 0.06× | 0.09× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $374.7M | ||
| Q4 25 | $791.3M | $405.5M | ||
| Q3 25 | $628.5M | $457.7M | ||
| Q2 25 | $509.7M | $369.3M | ||
| Q1 25 | $404.2M | $336.8M | ||
| Q4 24 | $484.6M | $386.9M | ||
| Q3 24 | $490.9M | $303.9M | ||
| Q2 24 | $446.2M | $279.4M |
| Q1 26 | — | $197.8M | ||
| Q4 25 | $202.8M | — | ||
| Q3 25 | $202.7M | — | ||
| Q2 25 | $202.6M | — | ||
| Q1 25 | $202.6M | — | ||
| Q4 24 | $202.6M | — | ||
| Q3 24 | $202.6M | — | ||
| Q2 24 | $205.8M | — |
| Q1 26 | — | $2.1B | ||
| Q4 25 | $3.2B | $2.0B | ||
| Q3 25 | $3.1B | $2.0B | ||
| Q2 25 | $2.9B | $1.9B | ||
| Q1 25 | $2.7B | $1.8B | ||
| Q4 24 | $2.7B | $1.7B | ||
| Q3 24 | $2.8B | $1.7B | ||
| Q2 24 | $2.6B | $1.6B |
| Q1 26 | — | $2.9B | ||
| Q4 25 | $4.3B | $2.9B | ||
| Q3 25 | $4.1B | $2.7B | ||
| Q2 25 | $4.0B | $2.6B | ||
| Q1 25 | $3.6B | $2.5B | ||
| Q4 24 | $3.6B | $2.4B | ||
| Q3 24 | $3.7B | $2.4B | ||
| Q2 24 | $3.5B | $2.4B |
| Q1 26 | — | 0.09× | ||
| Q4 25 | 0.06× | — | ||
| Q3 25 | 0.07× | — | ||
| Q2 25 | 0.07× | — | ||
| Q1 25 | 0.08× | — | ||
| Q4 24 | 0.08× | — | ||
| Q3 24 | 0.07× | — | ||
| Q2 24 | 0.08× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $251.1M | $17.9M |
| Free Cash FlowOCF − Capex | $175.0M | $6.6M |
| FCF MarginFCF / Revenue | 21.7% | 1.0% |
| Capex IntensityCapex / Revenue | 9.5% | — |
| Cash ConversionOCF / Net Profit | 1.90× | 0.18× |
| TTM Free Cash FlowTrailing 4 quarters | $468.9M | $317.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $17.9M | ||
| Q4 25 | $251.1M | $154.7M | ||
| Q3 25 | $197.2M | $122.4M | ||
| Q2 25 | $177.1M | $69.7M | ||
| Q1 25 | $129.4M | $55.2M | ||
| Q4 24 | $190.1M | $139.5M | ||
| Q3 24 | $180.1M | $90.7M | ||
| Q2 24 | $165.0M | $85.3M |
| Q1 26 | — | $6.6M | ||
| Q4 25 | $175.0M | $140.3M | ||
| Q3 25 | $133.9M | $110.9M | ||
| Q2 25 | $101.9M | $59.5M | ||
| Q1 25 | $58.1M | $45.6M | ||
| Q4 24 | $85.2M | $127.5M | ||
| Q3 24 | $98.8M | $84.3M | ||
| Q2 24 | $64.8M | $78.5M |
| Q1 26 | — | 1.0% | ||
| Q4 25 | 21.7% | 22.4% | ||
| Q3 25 | 16.6% | 18.1% | ||
| Q2 25 | 13.3% | 9.2% | ||
| Q1 25 | 8.3% | 8.2% | ||
| Q4 24 | 11.4% | 23.6% | ||
| Q3 24 | 13.2% | 15.5% | ||
| Q2 24 | 9.2% | 13.1% |
| Q1 26 | — | — | ||
| Q4 25 | 9.5% | 2.3% | ||
| Q3 25 | 7.9% | 1.9% | ||
| Q2 25 | 9.8% | 1.6% | ||
| Q1 25 | 10.2% | 1.7% | ||
| Q4 24 | 14.0% | 2.2% | ||
| Q3 24 | 10.9% | 1.2% | ||
| Q2 24 | 14.3% | 1.1% |
| Q1 26 | — | 0.18× | ||
| Q4 25 | 1.90× | 1.85× | ||
| Q3 25 | 1.41× | 1.49× | ||
| Q2 25 | 1.34× | 0.69× | ||
| Q1 25 | 1.44× | 0.75× | ||
| Q4 24 | 1.46× | 2.07× | ||
| Q3 24 | 1.32× | 1.31× | ||
| Q2 24 | 1.48× | 1.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
WST
| Proprietary Products | $661.8M | 82% |
| Contract Manufactured Products | $143.2M | 18% |
| Affiliated Entity | $3.3M | 0% |
WTS
| segment net | $517.8M | 76% |
| Other | $159.5M | 24% |
