BDX vs WST: Becton Dickinson and and West Pharmaceutical Services compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Becton Dickinson and is the larger company, worth $50.4B, about 1.9 times West Pharmaceutical Services.
- West Pharmaceutical Services grew revenue faster over the last year (+13.8% vs +5.4%).
- West Pharmaceutical Services keeps more of each dollar of revenue as operating profit (20.4% vs 10.7%).
- On earnings, Becton Dickinson and is the cheaper stock (32.0x vs 49.2x).
- West Pharmaceutical Services's price assumes faster free cash flow growth: about 18% a year, against 4% for Becton Dickinson and (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | BDX | WST |
|---|---|---|
| Market cap | $50.4B | $26.0B |
| Share price | $183.75 | $366.00 |
| Revenue (last fiscal year) | $21.8B | $3.1B |
| Free cash flow (last fiscal year) | $2.7B | $469M |
| Revenue growth, last year | +5.4% | +13.8% |
| Revenue growth per year, last 5 fiscal years | +3.4% | +2.1% |
| Operating margin | 10.7% | 20.4% |
| Net margin | 4.0% | 17.0% |
| Return on equity | 3.9% | 18.9% |
| P/E (trailing) | 32.0x | 49.2x |
| Price / free cash flow | 18.9x | 55.4x |
| EV / EBITDA | 14.0x | 31.1x |
| FCF growth the price implies | 4.2% | 18.4% |
| Dividend yield | 2.3% | 0.23% |
| Debt / equity | 1.08x | 0.36x |
| Fundamental grade | D | C |
| Superinvestors holding it | 10 | 3 |
| Insider purchases, last 12 months | 6 | 2 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Becton Dickinson and
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $19.1B | $3.5B | 11.8% |
| 2022 | $18.9B | $1.5B | 12.1% |
| 2023 | $19.4B | $2.1B | 10.9% |
| 2024 | $20.2B | $3.1B | 11.9% |
| 2025 | $21.8B | $2.7B | 11.8% |
West Pharmaceutical Services
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.8B | $331M | 26.6% |
| 2022 | $2.9B | $439M | 25.4% |
| 2023 | $2.9B | $414M | 22.9% |
| 2024 | $2.9B | $276M | 19.7% |
| 2025 | $3.1B | $469M | 19.0% |
Where the revenue comes from
Becton Dickinson and · by segments, 2025
Medical$11.5B52%
Interventional$5.2B24%
Life Sciences$5.2B24%
West Pharmaceutical Services · by segments, 2025
Proprietary Products$2.5B81%
Contract-Manufactured Products$582M19%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open BDX in InvestinglyQuestions
Which is bigger, Becton Dickinson and or West Pharmaceutical Services?
Becton Dickinson and (BDX), at $50.4B against $26.0B.
Is BDX or WST cheaper?
By trailing P/E, Becton Dickinson and (32.0x) is cheaper than West Pharmaceutical Services (49.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, BDX or WST?
West Pharmaceutical Services: revenue grew +13.8% over the last year, against +5.4%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.