Haemonetics vs West Pharmaceutical Services
Add, change or remove companies; up to four.
KIRA’s take AI analyst
I put Haemonetics and West Pharmaceutical Services side by side, using each one’s latest annual report. Here is what stands out:
- West Pharmaceutical Services is the larger business, with $3.1B of revenue in fiscal 2025 against $1.3B for Haemonetics, about 2.3 times as much.
- West Pharmaceutical Services grew revenue faster (6.3%, against −2.0%).
- West Pharmaceutical Services kept more of each dollar of sales as operating profit (19.0% operating margin, against 11.8%).
- Haemonetics turned more of its sales into free cash flow (19.5% FCF margin, against 15.3%).
- West Pharmaceutical Services earned a higher return on the capital invested in it (18.7%, against 6.7%).
- Investors pay more for each dollar of Haemonetics’s earnings: a P/E of 57.3x against 50.5x for West Pharmaceutical Services.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Haemonetics
HAE
4/11
5-year growthGross marginFCF marginShare count change
West Pharmaceutical Services
WST
7/11
Revenue growthOperating marginNet marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | HAE FY26 | WST FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.4B | $28.1B |
| Revenue | $1.3B | $3.1B |
| Free cash flow | $260M | $469M |
| Net income | $97.3M | $494M |
| Growth | ||
| Revenue growth | −2.0% | 6.3% |
| 5-year growth | 8.9% | 7.4% |
| Share count change | −6.7% | −1.4% |
| Profitability | ||
| Gross margin | 59.0% | 35.9% |
| Operating margin | 11.8% | 19.0% |
| Net margin | 7.3% | 16.1% |
| FCF margin | 19.5% | 15.3% |
| Return on capital | 6.7% | 18.7% |
| Return on equity | 12.0% | 16.9% |
| Balance sheet | ||
| Net debt | $994M | −$583M |
| Net debt / EBITDA | 3.7x | −0.8x |
| Dividends and buybacks | $175M | $195M |
| Valuation & quality | ||
| P/E | 57.3x | 50.5x |
| Piotroski F-score | 7 | 9 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.