Western Midstream Partners, LP
WES NYSE· Natural Gas Transmission
Last close · Oct 26, 2026
$45.17
KIRA · Stoqly’s AI analyst, in plain words
- Western Midstream Partners, LP had $3.8B of revenue in fiscal 2025, up 6.6% on the year before. Over five years, revenue changed +6.7% a year on average.
- Its operating margin was 41.7%, down 13.0 pts: of every 100 in sales, about 42 is left after running the business.
- Western Midstream Partners, LP made $1.2B of net profit in fiscal 2025.
- Western Midstream Partners, LP returned $1.4B to shareholders in fiscal 2025. The diluted share count rose 1.4%.
- Western Midstream Partners, LP owes $7.8B more than it holds in cash, about 3.4 years of operating profit.
Market cap
$18.1B
P/E
14.9x
Revenue
$3.8B
Net income
$1.2B
Free cash flow
—
Operating margin
41.7%
Western Midstream Partners, LP in 30 seconds · fiscal 2025
Are sales growing?
+6.6%
Yes. Sales grew 6.6% last year.
Does it make a profit?
30.7%
Yes. It keeps 30.7% of every sale as profit.
Is debt under control?
3.4x
Heavy. Repaying its debt would take 3.4 years of operating profit.
How healthy are the accounts?
5 / 8
Mixed. It passes 5 of 8 health tests.
How is the share priced?
14.9x
One share costs 14.9 times its yearly profit per share.
What Western Midstream Partners, LP does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 18, 2026
- Legal name
- Western Midstream Partners, LP
- CIK
- 0001423902
Western Midstream Partners, LP · WES
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $2.9B | $3.3B | $3.1B | $3.6B | $3.8B |
| Revenue growth | 3.8% | 13.0% | −4.5% | 16.1% | 6.6% |
| Operating margin | 46.4% | 48.8% | 44.4% | 54.7% | 41.7% |
| Net income | $916M | $1.2B | $1.0B | $1.6B | $1.2B |
| Net margin | 31.8% | 37.4% | 32.9% | 43.6% | 30.7% |
| Diluted EPS | $2.18 | $3.00 | $2.60 | $4.02 | $2.98 |
| Cash | |||||
| Cash from operations | $1.8B | $1.7B | $1.7B | $2.1B | $2.2B |
| Dividends paid | $534M | $736M | $978M | $1.2B | $1.4B |
| Share buybacks | $217M | $488M | $135M | $0.0M | $0.0M |
| Share count change | −5.4% | −3.8% | −3.0% | −0.5% | 1.4% |
| Debt and strength | |||||
| Cash and short-term investments | $202M | $287M | $273M | $1.1B | $819M |
| Debt incl. finance leases | $6.9B | $6.8B | $7.9B | $8.0B | $8.7B |
| Net debt / EBITDA | 3.6x | 3.0x | 3.9x | 2.6x | 3.4x |
| Current ratio | 0.6x | 1.0x | 0.8x | 1.1x | 1.3x |
| Interest coverage | 3.5x | 4.8x | 4.0x | 5.2x | 4.1x |
| Returns and quality | |||||
| Piotroski F-score | 7 | 8 | 4 | 8 | 5 |
Insiders bought, 12 months
$0.3M
2 insiders
Insiders sold, 12 months
$0.2M
1 insider
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Western Midstream Partners, LP · WES
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $45.17 a share, the company is worth $18.1B: 14.9 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001423902). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.