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West Pharmaceutical ServicesBSP:W2ST34 84 Cyclically Adjusted PB Ratio is 12.18 as of Sep. 16, 2026, which is 16% above its 10-year median of 10.47. GuruFocus rates BSP:W2ST34 with a GF Score™ of 84/100 and a GF Value™ of R$43.91 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 513 Medical Devices & Instruments companies, West Pharmaceutical Services ranks worse than 94.35% on this metric.
The historical rank and industry rank for West Pharmaceutical Services's Cyclically Adjusted PB Ratio or its related term are showing as below:
BSP:W2ST34'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 6.42 Med: 10.47 Max: 26.27
Current: 10.49
During the past years, West Pharmaceutical Services's highest Cyclically Adjusted PB Ratio was 26.27. The lowest was 6.42. And the median was 10.47.
BSP:W2ST34's Cyclically Adjusted PB Ratio is ranked worse than 94.35% of 513
companies
in the Medical Devices & Instruments industry
Industry Median: 1.8
vs BSP:W2ST34: 10.49
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.
West Pharmaceutical Services's adjusted book value per share data for the three months ended in Jun. 2026 was R$6.281. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is R$4.05 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
West Pharmaceutical Services (BSP:W2ST34) Cyclically Adjusted PB Ratio Explanation
Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.
West Pharmaceutical Services Cyclically Adjusted PB Ratio Related Terms
West Pharmaceutical Services Cyclically Adjusted PB Ratio Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
West Pharmaceutical Services Cyclically Adjusted PB Ratio Chart
BSP:W2ST34 vs MDLN, SOLV, COO: Cyclically Adjusted PB Ratio Comparison
For the Medical Instruments & Supplies subindustry, West Pharmaceutical Services's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
West Pharmaceutical Services Cyclically Adjusted PB Ratio vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, West Pharmaceutical Services's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where West Pharmaceutical Services's Cyclically Adjusted PB Ratio falls into.
West Pharmaceutical Services Cyclically Adjusted PB Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PB Ratio of 12.18 mean?
West Pharmaceutical Services (BSP:W2ST34) has a Cyclically Adjusted PB Ratio of 12.18 as of Sep. 16, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on West Pharmaceutical Services and its competitors. This is 16% above median its historical median of 10.47. Over the past decade, West Pharmaceutical Services' Cyclically Adjusted PB Ratio has ranged from 6.42 to 26.27. According to the industry distribution chart, West Pharmaceutical Services ranks #484 out of 513 companies in the Medical Devices & Instruments industry, placing it in the top 94.3%.
Is West Pharmaceutical Services' Cyclically Adjusted PB Ratio too high?
West Pharmaceutical Services' current Cyclically Adjusted PB Ratio of 12.18 is 16% above median its 10-year median of 10.47. Over the past 10 years, this metric has ranged from a low of 6.42 to a high of 26.27. The Medical Devices & Instruments industry median Cyclically Adjusted PB Ratio is 1.80. West Pharmaceutical Services' value of 12.18 is 576.7% above this industry median. Based on the distribution chart, West Pharmaceutical Services ranks #484 out of 513 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, West Pharmaceutical Services has a GF Score™ of 84/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does West Pharmaceutical Services' Cyclically Adjusted PB Ratio compare to MDLN and SOLV?
According to the Medical Devices & Instruments industry distribution chart, West Pharmaceutical Services ranks #484 out of 513 companies for Cyclically Adjusted PB Ratio. This places West Pharmaceutical Services in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.80. West Pharmaceutical Services' value of 12.18 is 576.7% above this benchmark. Historically, West Pharmaceutical Services' own Cyclically Adjusted PB Ratio has ranged from 6.42 to 26.27 over the past decade. While the company's 10-year median is 10.47 vs. the industry median of 1.80, West Pharmaceutical Services has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Medical Devices & Instruments company?
The median Cyclically Adjusted PB Ratio among Medical Devices & Instruments companies is 1.80, based on 513 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. West Pharmaceutical Services's current Cyclically Adjusted PB Ratio of 12.18 is 576.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on West Pharmaceutical Services and its competitors. For the Medical Devices & Instruments industry, the median Cyclically Adjusted PB Ratio is 1.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. West Pharmaceutical Services's current Cyclically Adjusted PB Ratio is 12.18, which is 16% above median its own 10-year median of 10.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is West Pharmaceutical Services stock overvalued right now?
Based on GuruFocus' analysis, West Pharmaceutical Services (BSP:W2ST34) is currently considered Modestly Overvalued. The stock's GF Value™ is R$43.91, compared to a current price of R$49.25 — trading 12.2% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 12.18, which is 16% above median its 10-year median of 10.47 and 576.7% above the Medical Devices & Instruments industry median of 1.80. West Pharmaceutical Services' overall GF Score™ is 84/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For West Pharmaceutical Services (BSP:W2ST34), the current Cyclically Adjusted PB Ratio is 12.18 as of Sep. 16, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is West Pharmaceutical Services (BSP:W2ST34) Overvalued in 2026?
Based on GuruFocus' analysis, West Pharmaceutical Services stock appears to be overvalued.
The current stock price of R$49.25 is trading 12.2% above its estimated GF Value™ of R$43.91.
GuruFocus considers West Pharmaceutical Services to be Modestly Overvalued.
Key valuation signals for BSP:W2ST34:
Cyclically Adjusted PB Ratio: 12.18 (16% above median its 10-year median of 10.47)
GF Value™: R$43.91 vs. price of R$49.25 (12.2% above fair value)
Industry Position: 576.7% above the Medical Devices & Instruments median (#484 of 513)
No single metric tells the full story. See the BSP:W2ST34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
West Pharmaceutical Services is based in Pennsylvania and is a key supplier to firms in the pharmaceutical, biotechnology, and generic drug industries. West sells elastomer-based packaging components (including stoppers, seals, and plungers), nonglass containment solutions, and auto-injectors for injectable drugs, which include large-molecule biologics, peptides such as GLP-1 receptor agonists, and small-molecule drugs. The company reports in two segments: proprietary products (about 80% of total revenue) and contract-manufactured products (about 20% of total revenue). It generates approximately 55% of its revenue from international markets and 45% from the United States.
84GF Score
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