Friday 6 November 2026 Export WES’s income statement to Excel — free account

Western Midstream Partners, LP

Western Midstream Partners, LP’s revenue for fiscal 2025 (year ended December 2025) was $3.8 billion, up 6.61% from fiscal 2024.

Revenue: +25.4%
EPS: −9.20%
Free cash flow: +44.5%
Total debt: +32.0%

Quarter to September 2026, against a year earlier

39.99 2.55 −5.99%

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Market cap: $16.5B
P/E: 12.9×
Fwd P/E: 12.5×
Dividend yield: 9.25%
F-score: 4/9
Altman Z: n/a
Beneish M: −2.62
Dividend safety: 26/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

	Dec '25	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16
Piotroski F-Score Full definition →	4	9	5	7	7	6	6	4	5	6
P/E ratio Full definition →	13.12	9.51	11.03	8.56	10.22	11.52	12.62	16.41	22.71	28.73
P/S ratio Full definition →	3.97	4.05	3.55	3.13	3.18	2.17	2.98	2.64	3.52	5.33
P/FCF ratio Full definition →	10.34	7.04	12.33	6.93	6.22	4.88	60.56	0.00	225.28	20.08
P/Operating CF Full definition →	27.35	26.37	23.29	20.80	13.84	11.91	27.53	15.85	21.37	37.25
Beneish M-Score Full definition →	(2.62)	(2.67)	(2.63)	(2.47)	(2.74)	(2.45)	(2.68)	(2.63)	(2.71)	(2.58)
Dividend Safety Score Full definition →	26	—	—	—	—	—	—	—	—	—
P/B ratio Full definition →	3.66	4.33	3.64	3.27	2.96	2.08	2.45	1.24	2.17	2.34
Price to Tangible BV Full definition →	5.27	5.37	4.71	4.26	3.90	2.85	3.92	1.68	3.11	3.33
EV/Sales Full definition →	6.00	5.95	6.00	5.13	5.51	4.84	5.84	4.88	4.92	6.89
EV/EBITDA Full definition →	9.95	8.16	9.38	7.66	8.37	7.38	9.31	8.93	10.63	12.76
EV/Operating CF Full definition →	10.38	10.05	11.23	9.80	8.98	8.20	12.12	8.32	11.48	13.61
EV/FCF Full definition →	15.65	10.34	20.87	11.35	10.77	10.88	118.70	(18.81)	315.22	25.93
Quick Ratio Full definition →	1.29	1.06	0.72	0.93	0.56	0.93	0.74	0.49	0.57	1.85
Current Ratio Full definition →	1.34	1.09	0.76	1.00	0.60	0.98	0.83	0.54	0.60	1.89
Net Debt/EBITDA Full definition →	3.37	2.60	3.84	2.98	3.54	4.07	4.56	4.10	3.03	2.88
Debt/Assets Full definition →	57.63%	60.39%	63.35%	60.20%	61.27%	66.40%	64.47%	45.76%	43.57%	40.86%
Debt/Equity Full definition →	2.08	2.35	2.61	2.18	2.23	2.71	2.38	1.07	0.89	0.77
Asset Turnover Full definition →	0.27	0.28	0.26	0.29	0.25	0.23	0.23	0.24	0.31	0.24
Operating CF/Net income Full definition →	1.93	1.39	1.66	1.43	1.97	3.17	2.00	3.65	2.77	2.73
Capex/Depreciation Full definition →	(1.04)	(0.09)	(1.26)	(0.39)	(0.53)	(0.49)	(2.42)	(4.92)	(3.10)	(1.61)
Interest Coverage Full definition →	4.10	5.21	3.96	4.76	3.55	2.31	4.06	4.69	5.63	6.04
ROE Full definition →	30.63%	48.00%	32.54%	38.35%	29.93%	16.53%	16.08%	8.36%	9.35%	8.33%
ROA Full definition →	8.20%	12.00%	8.41%	10.55%	7.76%	4.27%	5.56%	3.79%	4.78%	4.45%
ROIC Full definition →	8.35%	12.05%	8.09%	10.33%	8.52%	5.33%	6.87%	5.36%	6.81%	6.37%
Return on Tangible Assets Full definition →	9.92%	15.57%	10.69%	13.93%	11.13%	5.94%	7.37%	4.55%	6.77%	6.27%
Average Days of Receivables Full definition →	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 Full definition →	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 Full definition →	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 Full definition →	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 Full definition →	1.32%	1.05%	1.03%	0.85%	0.96%	0.81%	0.56%	0.28%	0.21%	0.28%
Graham Net Nets Full definition →	(0.60)	(0.54)	(0.77)	(0.71)	(0.82)	(1.33)	(1.05)	(1.02)	(0.45)	(0.31)
Graham Number Full definition →	27.02	28.40	21.55	23.09	19.21	13.40	16.80	29.15	26.41	25.42
Earnings Yield Full definition →	7.62%	10.51%	9.07%	11.68%	9.79%	8.68%	7.92%	6.09%	4.40%	3.48%
Free Cash Flow Yield Full definition →	9.67%	14.21%	8.11%	14.44%	16.07%	20.50%	1.65%	(9.82%)	0.44%	4.98%
Revenue per Share Full definition →	9.96	9.48	8.11	8.23	7.00	6.37	6.60	10.50	11.10	8.24
Operating CF per Share Full definition →	5.76	5.62	4.34	4.31	4.30	3.76	3.18	6.16	4.76	4.17
Capex per Share Full definition →	(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 Full definition →	3.82	5.46	2.33	3.72	3.58	2.70	0.33	(2.72)	0.17	2.19
Cash per Share Full definition →	2.12	2.87	0.71	0.73	0.49	1.02	0.24	0.42	0.36	1.64
Shareholders Equity per Share Full definition →	10.78	8.87	7.91	7.87	7.53	6.65	8.05	22.35	18.02	18.78
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	10.78	8.87	7.91	7.87	7.53	6.65	8.05	22.35	18.02	18.78
Free Cash Flow Full definition →	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 Full definition →	420.46	155.50	(311.65)	(3.43)	(455.43)	(17.87)	(83.54)	(292.71)	(169.22)	280.20
Capital Expenditures Full definition →	(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 Full definition →	(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 Full definition →	14.41	10.89	13.52	10.50	11.87	15.28	13.03	13.03	14.93	17.64
Capex to Sales Full definition →	0.19	0.02	0.25	0.07	0.10	0.17	0.43	0.85	0.41	0.24
Price to Operating Income Full definition →	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 Full definition →	0.06	0.07	0.06	0.07	0.07	0.11	0.05	0.05	0.06	0.05
Cash ROIC Full definition →	10.82%	16.75%	7.98%	14.43%	14.43%	10.51%	1.19%	(5.83%)	0.50%	6.28%
Accounts Receivable Turnover Full definition →	5.21	5.27	5.09	6.56	6.47	7.77	11.40	12.06	12.68	8.67
Accounts Payable Turnover Full definition →	0.65	0.51	0.46	1.23	1.20	0.75	1.21	1.05	3.20	2.86
Inventory Turnover Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Days of Payables Full definition →	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 Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Receivables Full definition →	737.52	684.24	610.45	495.39	444.70	356.70	240.84	190.70	191.63	208.07
Average Payables Full definition →	316.06	337.70	361.51	343.31	268.38	251.91	368.24	396.57	298.44	172.87
Average Assets Full definition →	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 Full definition →	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

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Columns are period end dates · fundamentals updated 4 Nov 2026

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