West Pharmaceutical ServicesWST +0.83%95 Net Current Asset Value is $9.98 as of Mar. 2026, which is 75% below its 10-year median of 39.36. GuruFocus rates WST with a GF Score™ of 95/100 and a GF Value™ of $361.86 (Fairly Valued). The stock has 9 warning signs investors should review. Among 566 Medical Devices & Instruments companies, West Pharmaceutical Services ranks worse than 92.4% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
West Pharmaceutical Services's net current asset value per share for the quarter that ended in Mar. 2026 was $9.98.
The historical rank and industry rank for West Pharmaceutical Services's Net Current Asset Value or its related term are showing as below:
WST'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 17.66 Med: 39.36 Max: 146.26
Current: 36.31
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of West Pharmaceutical Services was 146.26. The lowest was 17.66. And the median was 39.36.
WST's Price-to-Net-Current-Asset-Value is ranked worse than 92.4% of 566
companies
in the Medical Devices & Instruments industry
Industry Median: 5.05
vs WST: 36.31
West Pharmaceutical Services (NYSE:WST) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
West Pharmaceutical Services Net Current Asset Value Related Terms
West Pharmaceutical Services Net Current Asset Value 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 Net Current Asset Value Chart
WST vs RMD, MDLN, COO: Net Current Asset Value Comparison
For the Medical Instruments & Supplies subindustry, West Pharmaceutical Services's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value 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 Price-to-Net-Current-Asset-Value vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, West Pharmaceutical Services's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where West Pharmaceutical Services's Price-to-Net-Current-Asset-Value falls into.
* 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.
What does a Net Current Asset Value of $9.98 mean?
West Pharmaceutical Services (WST) has a Net Current Asset Value of $9.98 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on West Pharmaceutical Services and its competitors. This is 75% below median its historical median of 39.36. Over the past decade, West Pharmaceutical Services' Net Current Asset Value has ranged from 17.66 to 146.26. According to the industry distribution chart, West Pharmaceutical Services ranks #523 out of 566 companies in the Medical Devices & Instruments industry, placing it in the top 92.4%.
Is West Pharmaceutical Services' Net Current Asset Value too high?
West Pharmaceutical Services' current Net Current Asset Value of $9.98 is 75% below median its 10-year median of 39.36. Over the past 10 years, this metric has ranged from a low of 17.66 to a high of 146.26. The Medical Devices & Instruments industry median Net Current Asset Value is 5.05. West Pharmaceutical Services' value of $9.98 is 97.6% above this industry median. Based on the distribution chart, West Pharmaceutical Services ranks #523 out of 566 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 95/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does West Pharmaceutical Services' Net Current Asset Value compare to RMD and MDLN?
According to the Medical Devices & Instruments industry distribution chart, West Pharmaceutical Services ranks #523 out of 566 companies for Net Current Asset Value. This places West Pharmaceutical Services in the lower half of its industry. The industry median Net Current Asset Value is 5.05. West Pharmaceutical Services' value of $9.98 is 97.6% above this benchmark. Historically, West Pharmaceutical Services' own Net Current Asset Value has ranged from 17.66 to 146.26 over the past decade. While the company's 10-year median is 39.36 vs. the industry median of 5.05, 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 Net Current Asset Value for a Medical Devices & Instruments company?
The median Net Current Asset Value among Medical Devices & Instruments companies is 5.05, based on 566 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. West Pharmaceutical Services's current Net Current Asset Value of $9.98 is 97.6% 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 Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on West Pharmaceutical Services and its competitors. For the Medical Devices & Instruments industry, the median Net Current Asset Value is 5.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. West Pharmaceutical Services's current Net Current Asset Value is $9.98, which is 75% below median its own 10-year median of 39.36. 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 (WST) is currently considered Fairly Valued. The stock's GF Value™ is $361.86, compared to a current price of $361.99 — trading 0% above its estimated fair value. The current Net Current Asset Value is $9.98, which is 75% below median its 10-year median of 39.36 and 97.6% above the Medical Devices & Instruments industry median of 5.05. West Pharmaceutical Services' overall GF Score™ is 95/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For West Pharmaceutical Services (WST), the current Net Current Asset Value is $9.98 as of Mar. 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 (WST) Overvalued in 2026?
Based on GuruFocus' analysis, West Pharmaceutical Services stock appears to be overvalued.
The current stock price of $361.99 is trading 0% above its estimated GF Value™ of $361.86.
GuruFocus considers West Pharmaceutical Services to be Fairly Valued.
Key valuation signals for WST:
Net Current Asset Value: $9.98 (75% below median its 10-year median of 39.36)
GF Value™: $361.86 vs. price of $361.99 (0% above fair value)
Industry Position: 97.6% above the Medical Devices & Instruments median (#523 of 566)
No single metric tells the full story. See the WST 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.
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