West Pharmaceutical Services vs Dentsply Sirona
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KIRA’s take AI analyst
I put West Pharmaceutical Services and Dentsply Sirona side by side, using each one’s latest annual report. Here is what stands out:
- Dentsply Sirona is the larger business, with $3.7B of revenue in fiscal 2025 against $3.1B for West Pharmaceutical Services.
- West Pharmaceutical Services grew revenue faster (6.3%, against −3.0%).
- West Pharmaceutical Services kept more of each dollar of sales as operating profit (19.0% operating margin, against −11.5%).
- West Pharmaceutical Services turned more of its sales into free cash flow (15.3% FCF margin, against 2.8%).
- West Pharmaceutical Services earned a higher return on the capital invested in it (18.7%, against −9.9%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
West Pharmaceutical Services
WST
8/10
Revenue growth5-year growthOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-score
Dentsply Sirona
XRAY
2/10
Gross marginShare count change
Side by side
Best in the row
| Latest fiscal year | WST FY25 | XRAY FY25 |
|---|---|---|
| Size | ||
| Market cap | $28.0B | $1.9B |
| Revenue | $3.1B | $3.7B |
| Free cash flow | $469M | $104M |
| Net income | $494M | −$598M |
| Growth | ||
| Revenue growth | 6.3% | −3.0% |
| 5-year growth | 7.4% | 2.0% |
| Share count change | −1.4% | −1.9% |
| Profitability | ||
| Gross margin | 35.9% | 50.0% |
| Operating margin | 19.0% | −11.5% |
| Net margin | 16.1% | −16.3% |
| FCF margin | 15.3% | 2.8% |
| Return on capital | 18.7% | −9.9% |
| Return on equity | 16.9% | −36.5% |
| Balance sheet | ||
| Net debt | −$583M | $2.0B |
| Net debt / EBITDA | −0.8x | — |
| Dividends and buybacks | $195M | $128M |
| Valuation & quality | ||
| P/E | 50.2x | — |
| Piotroski F-score | 9 | 6 |
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.