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West Pharmaceutical Services vs MiniMed Group: WST and MMED compared
West Pharmaceutical Services is the larger company: $874M of revenue in its latest quarter (Q3 2026) against $843M for MiniMed Group (Q2 2026). MiniMed Group is growing faster (+17% against +9% a year earlier). West Pharmaceutical Services is more profitable, with an operating margin of 30.6% against 0.6%.
Where the money goes: WST and MMED
West Pharmaceutical Services (WST) · Q3 2026
West Pharmaceutical Services, Q3 2026: revenue $874M (+9% year over year), operating margin 30.6%, net earnings $214M, operating cash flow $190M. The chart follows the revenue to costs, profit and cash.
MiniMed Group (MMED) · Q2 2026
MiniMed Group, Q2 2026: revenue $843M (+17% year over year), operating margin 0.6%, net earnings $0, operating cash flow −$49.0M. The chart follows the revenue to costs, profit and cash.
| West Pharmaceutical Services (WST) | MiniMed Group (MMED) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $874M | $843M |
| Revenue growth, Y/Y | +9% | +17% |
| Gross margin | 39.7% | 55.2% |
| Operating margin | 30.6% | 0.6% |
| Net earnings | $214M | $0 |
| Net margin | 24.5% | 0.0% |
| Operating cash flow | $190M | −$49.0M |
| Free cash flow | $150M | — |
| Market value | $28.3B | $4.7B |
| P/E | 44.9× | — |
| Analysts’ mean target | $471.00 | $25.47 |
Where the revenue comes from
West Pharmaceutical Services
- Proprietary Products: $729M (83%)
- West Vantage: $146M (17%)
MiniMed Group
- CGM: $431M (51%)
- Consumables: $261M (31%)
- Pumps: $144M (17%)
- Other: $7.0M (1%)
Questions
Which is bigger, West Pharmaceutical Services or MiniMed Group?
West Pharmaceutical Services is the larger company: $874M of revenue in its latest quarter (Q3 2026) against $843M for MiniMed Group (Q2 2026).
Is West Pharmaceutical Services or MiniMed Group growing faster?
MiniMed Group is growing faster (+17% against +9% a year earlier).
Which is more profitable, West Pharmaceutical Services or MiniMed Group?
West Pharmaceutical Services is more profitable, with an operating margin of 30.6% against 0.6%.
More: West Pharmaceutical Services earnings · how West Pharmaceutical Services makes money · MiniMed Group earnings · how MiniMed Group makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Sep 8, 2026). Fiscal quarters can end on different dates. Not investment advice.