WST
West Pharmaceutical Services
Is WST Halal?
Pharmaceutical packaging — supports life-saving medicine delivery.
What You Should Know
West Pharmaceutical makes injectable drug-delivery systems and packaging that support medicine delivery. Its March 31, 2026 Form 10-Q reports $4,109.8 million of assets, $316.2 million of debt including operating leases, $521.4 million of cash, $685.6 million of receivables and $844.9 million of quarterly sales. Debt/assets is 7.70%, receivables-plus-cash/assets is 29.37% and disclosed interest income is 0.60%; examined financial ratios pass, while customer and end-use allocation remains qualitative.
⚠️ Concerns
- •Operating leases included conservatively
- •Disclosed interest income
- •Pharmaceutical customer and end-use mix requires qualitative review
- •No universal activity numerator disclosed
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
316.2 / 4,109.8
521.4 / 4,109.8
1,207 / 4,109.8
5.1 / 844.9
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 7.70%, liquidity/assets is 12.69%, receivables-plus-cash/assets is 29.37% and disclosed interest income is 0.60%; examined financial ratios pass, but the activity numerator remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity and receivables-plus-cash are below the examined total-assets limits; activity allocation remains incomplete. This is not an index-membership claim.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and identifiable conventional cash and securities are below the examined Malaysia limits; activity allocation remains incomplete.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored.
Business-activity disclosure
West Pharmaceutical supplies injectable drug-delivery systems, packaging and components used by pharmaceutical and healthcare customers. The core medical-packaging business is generally permissible, while customer and end-use allocation requires qualitative review.
Limitation: The filing does not provide a universal prohibited-activity numerator across customers, products and end uses.
Purification
West discloses $5.1 million of interest income but does not provide a scholar-approved purification percentage or complete prohibited-activity numerator.
Inputs, assumptions and primary sources
- Amounts are USD millions from West Pharmaceutical's March 31, 2026 Form 10-Q.
- Interest-bearing debt is $203.0 million of debt plus $113.4 million of operating-lease liabilities; leases are included conservatively and no separate interest-bearing securities line is reported.
- Cash and cash equivalents are $521.4 million and accounts receivable, net are $685.6 million.
- Quarterly net sales are $844.9 million and disclosed interest income is $5.1 million, or 0.60% of quarterly sales.
- Pharmaceutical packaging and drug-delivery systems are generally permissible, but the filing does not provide a universal prohibited-activity numerator across customers and end uses.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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