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Friday 6 November 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.

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%
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
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
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Western Midstream Partners, LP (WES) Debt to equity

Alert me on Debt to equity

Western Midstream Partners, LP's debt to equity at the end of the quarter to 30 September 2026 was 2.1×, up 0.0× from fiscal 2025 (2.1×). Over the past ten years it has ranged from 0.7× (fiscal 2015) to 2.7× (fiscal 2020); the current reading is higher than 45% of that period. That is above the Oil & Gas Midstream industry median of 0.8× and above the Energy sector median of 0.4×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 2.1× (11.71%)
FY2024 2.4× (9.84%)
FY2023 2.6× 19.48%
FY2022 2.2× (2.15%)
FY2021 2.2× (17.77%)
FY2020 2.7× 14.03%
FY2019 2.4× 122.03%
FY2018 1.1× 21.03%
FY2017 0.9× 15.15%
FY2016 0.8× 4.68%

Quarterly newest first

Period Debt to equity Change
Sep 2026 2.1× 2.37%
Jun 2026 2.1× (16.52%)
Mar 2026 2.5× 18.65%
Dec 2025 2.1× (0.37%)
43 more quarters

Against its own ten years

Low 0.7× High 2.7×
Ten-year median 2.2×
Current reading's percentile 45

Debt to equity against peers

Company Debt to equity
VNOM Viper Energy Inc. compare 0.2×
PAGP Plains Group Holdings, L.P. compare 0.6×
PAA Plains All American Pipeline, L.P. compare 0.6×
DTM DT Midstream, Inc. compare 0.7×
FRO Frontline PLC compare 0.8×
PBA Pembina Pipeline Corp. compare 0.8×
WES Western Midstream Partners, LP 2.1×
VG Venture Global, Inc. compare 3.5×
CQP Cheniere Energy Partners, L.P. compare 16.4×
Oil & Gas Midstream industry median 0.8×
Energy sector median 0.4×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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