Saturday 17 October 2026
Export WES’s income statement to Excel — free account
Western Midstream Partners, LP
WES Energy Oil & Gas Midstream
Western Midstream Partners, LP’s revenue for fiscal 2025 (year ended December 2025) was $3.8 billion, up 6.61% from fiscal 2024. In the quarter to June 2026, revenue grew 30.0%, EPS grew 12.5%, free cash flow fell 36.2% and total debt rose 30.5%, each against the same quarter a year earlier. Dividend growth for five consecutive years; insiders bought in the last twelve months.
44.60
0.46
+1.04%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
4 | 9 | 5 | 7 | 7 | 6 | 6 | 4 | 5 | 6 |
P/E ratio |
13.12 | 9.51 | 11.03 | 8.56 | 10.22 | 11.52 | 12.62 | 16.41 | 22.71 | 28.73 |
P/S ratio |
3.97 | 4.05 | 3.55 | 3.13 | 3.18 | 2.17 | 2.98 | 2.64 | 3.52 | 5.33 |
P/FCF ratio |
10.34 | 7.04 | 12.33 | 6.93 | 6.22 | 4.88 | 60.56 | 0.00 | 225.28 | 20.08 |
P/Operating CF |
27.35 | 26.37 | 23.29 | 20.80 | 13.84 | 11.91 | 27.53 | 15.85 | 21.37 | 37.25 |
Beneish M-Score |
(2.62) | (2.67) | (2.63) | (2.47) | (2.74) | (2.45) | (2.68) | (2.63) | (2.71) | (2.58) |
Dividend Safety Score |
26 | — | — | — | — | — | — | — | — | — |
P/B ratio |
3.66 | 4.33 | 3.64 | 3.27 | 2.96 | 2.08 | 2.45 | 1.24 | 2.17 | 2.34 |
Price to Tangible BV |
5.27 | 5.37 | 4.71 | 4.26 | 3.90 | 2.85 | 3.92 | 1.68 | 3.11 | 3.33 |
EV/Sales |
6.00 | 5.95 | 6.00 | 5.13 | 5.51 | 4.84 | 5.84 | 4.88 | 4.92 | 6.89 |
EV/EBITDA |
9.95 | 8.16 | 9.38 | 7.66 | 8.37 | 7.38 | 9.31 | 8.93 | 10.63 | 12.76 |
EV/Operating CF |
10.38 | 10.05 | 11.23 | 9.80 | 8.98 | 8.20 | 12.12 | 8.32 | 11.48 | 13.61 |
EV/FCF |
15.65 | 10.34 | 20.87 | 11.35 | 10.77 | 10.88 | 118.70 | (18.81) | 315.22 | 25.93 |
Quick Ratio |
1.29 | 1.06 | 0.72 | 0.93 | 0.56 | 0.93 | 0.74 | 0.49 | 0.57 | 1.85 |
Current Ratio |
1.34 | 1.09 | 0.76 | 1.00 | 0.60 | 0.98 | 0.83 | 0.54 | 0.60 | 1.89 |
Net Debt/EBITDA |
3.37 | 2.60 | 3.84 | 2.98 | 3.54 | 4.07 | 4.56 | 4.10 | 3.03 | 2.88 |
Debt/Assets |
57.63% | 60.39% | 63.35% | 60.20% | 61.27% | 66.40% | 64.47% | 45.76% | 43.57% | 40.86% |
Debt/Equity |
2.08 | 2.35 | 2.61 | 2.18 | 2.23 | 2.71 | 2.38 | 1.07 | 0.89 | 0.77 |
Asset Turnover |
0.27 | 0.28 | 0.26 | 0.29 | 0.25 | 0.23 | 0.23 | 0.24 | 0.31 | 0.24 |
Operating CF/Net income |
1.93 | 1.39 | 1.66 | 1.43 | 1.97 | 3.17 | 2.00 | 3.65 | 2.77 | 2.73 |
Capex/Depreciation |
(1.04) | (0.09) | (1.26) | (0.39) | (0.53) | (0.49) | (2.42) | (4.92) | (3.10) | (1.61) |
Interest Coverage |
4.10 | 5.21 | 3.96 | 4.76 | 3.55 | 2.31 | 4.06 | 4.69 | 5.63 | 6.04 |
| 30.63% | 48.00% | 32.54% | 38.35% | 29.93% | 16.53% | 16.08% | 8.36% | 9.35% | 8.33% | |
| 8.20% | 12.00% | 8.41% | 10.55% | 7.76% | 4.27% | 5.56% | 3.79% | 4.78% | 4.45% | |
ROIC |
8.35% | 12.05% | 8.09% | 10.33% | 8.52% | 5.33% | 6.87% | 5.36% | 6.81% | 6.37% |
Return on Tangible Assets |
9.92% | 15.57% | 10.69% | 13.93% | 11.13% | 5.94% | 7.37% | 4.55% | 6.77% | 6.27% |
Average Days of Receivables |
73.43 | 71.06 | 78.33 | 62.22 | 55.38 | 59.62 | 34.63 | 35.10 | 24.07 | 45.12 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
36.01% | 33.69% | 33.85% | 28.51% | 29.23% | 29.03% | 29.76% | 26.09% | 18.63% | 22.03% |
Intangible Assets out of Total Assets |
0.08 | 0.05 | 0.06 | 0.06 | 0.07 | 0.07 | 0.10 | 0.11 | 0.15 | 0.16 |
Share Based Compensation of Revenue |
1.32% | 1.05% | 1.03% | 0.85% | 0.96% | 0.81% | 0.56% | 0.28% | 0.21% | 0.28% |
Graham Net Nets |
(0.60) | (0.54) | (0.77) | (0.71) | (0.82) | (1.33) | (1.05) | (1.02) | (0.45) | (0.31) |
Graham Number |
27.02 | 28.40 | 21.55 | 23.09 | 19.21 | 13.40 | 16.80 | 29.15 | 26.41 | 25.42 |
Earnings Yield |
7.62% | 10.51% | 9.07% | 11.68% | 9.79% | 8.68% | 7.92% | 6.09% | 4.40% | 3.48% |
Free Cash Flow Yield |
9.67% | 14.21% | 8.11% | 14.44% | 16.07% | 20.50% | 1.65% | (9.82%) | 0.44% | 4.98% |
Revenue per Share |
9.96 | 9.48 | 8.11 | 8.23 | 7.00 | 6.37 | 6.60 | 10.50 | 11.10 | 8.24 |
Operating CF per Share |
5.76 | 5.62 | 4.34 | 4.31 | 4.30 | 3.76 | 3.18 | 6.16 | 4.76 | 4.17 |
Capex per Share |
(1.94) | (0.16) | (2.00) | (0.59) | (0.72) | (1.06) | (2.86) | (8.88) | (4.59) | (1.98) |
Free Cash Flow per Share |
3.82 | 5.46 | 2.33 | 3.72 | 3.58 | 2.70 | 0.33 | (2.72) | 0.17 | 2.19 |
Cash per Share |
2.12 | 2.87 | 0.71 | 0.73 | 0.49 | 1.02 | 0.24 | 0.42 | 0.36 | 1.64 |
Shareholders Equity per Share |
10.78 | 8.87 | 7.91 | 7.87 | 7.53 | 6.65 | 8.05 | 22.35 | 18.02 | 18.78 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
10.78 | 8.87 | 7.91 | 7.87 | 7.53 | 6.65 | 8.05 | 22.35 | 18.02 | 18.78 |
Free Cash Flow |
1,474.67 | 2,076.98 | 893.84 | 1,469.05 | 1,472.36 | 1,176.39 | 135.19 | (596.48) | 37.96 | 479.20 |
Working Capital |
420.46 | 155.50 | (311.65) | (3.43) | (455.43) | (17.87) | (83.54) | (292.71) | (169.22) | 280.20 |
Capital Expenditures |
(747.96) | (59.88) | (767.50) | (232.37) | (294.49) | (461.03) | (1,188.91) | (1,944.66) | (1,004.75) | (433.88) |
Net Current Asset Value |
(9,178.36) | (7,922.42) | (8,450.07) | (7,263.09) | (7,492.55) | (7,991.75) | (8,598.75) | (6,219.76) | (3,816.22) | (3,029.74) |
EV/EBIT |
14.41 | 10.89 | 13.52 | 10.50 | 11.87 | 15.28 | 13.03 | 13.03 | 14.93 | 17.64 |
Capex to Sales |
0.19 | 0.02 | 0.25 | 0.07 | 0.10 | 0.17 | 0.43 | 0.85 | 0.41 | 0.24 |
Price to Operating Income |
9.52 | 7.42 | 7.99 | 6.41 | 6.85 | 6.85 | 6.65 | 7.05 | 10.67 | 13.66 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.06 | 0.07 | 0.06 | 0.07 | 0.07 | 0.11 | 0.05 | 0.05 | 0.06 | 0.05 |
Cash ROIC |
10.82% | 16.75% | 7.98% | 14.43% | 14.43% | 10.51% | 1.19% | (5.83%) | 0.50% | 6.28% |
Accounts Receivable Turnover |
5.21 | 5.27 | 5.09 | 6.56 | 6.47 | 7.77 | 11.40 | 12.06 | 12.68 | 8.67 |
Accounts Payable Turnover |
0.65 | 0.51 | 0.46 | 1.23 | 1.20 | 0.75 | 1.21 | 1.05 | 3.20 | 2.86 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
562.85 | 663.13 | 803.74 | 312.68 | 369.28 | 408.86 | 240.84 | 389.45 | 133.86 | 182.48 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
737.52 | 684.24 | 610.45 | 495.39 | 444.70 | 356.70 | 240.84 | 190.70 | 191.63 | 208.07 |
Average Payables |
316.06 | 337.70 | 361.51 | 343.31 | 268.38 | 251.91 | 368.24 | 396.57 | 298.44 | 172.87 |
Average Assets |
14,071.61 | 12,808.20 | 11,871.62 | 11,272.36 | 11,551.56 | 12,088.24 | 11,901.83 | 9,736.76 | 7,876.20 | 7,519.72 |
Average Common Equity |
3,769.15 | 3,202.15 | 3,068.62 | 3,101.94 | 2,995.49 | 3,120.25 | 4,118.99 | 4,418.78 | 4,027.82 | 4,015.43 |
Columns are period end dates