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Westlake Chemical Partners LP

WLKP Basic Materials Chemicals

Westlake Chemical Partners LP’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 2.71% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS fell 2.44%, free cash flow grew 866.7% and total debt was flat, each against the same quarter a year earlier. Dividend growth for ten consecutive years.

21.19 0.22 −1.03%
Market cap
$754.6M
P/E
13.0×
Fwd P/E
12.3×
Dividend yield
8.91%
F-score
4/9
Altman Z
n/a
Beneish M
−2.46
Dividend safety
92/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.61%

Capital & Financial Ratios $m

Market Cap 754.62
Revenue 1,234.72
Net Income 334.49
Free Cash Flow 409.14
Net Debt 350.35
Current Ratio 3.44 (at or above 1.5: strong)
Debt/Equity 0.52
P/E ratio 12.98
Fwd P/E 12.30
P/S ratio 0.60
P/B ratio 0.97
Past 5Y EPS Growth (6.00%) (below 0%: weak)
This Y EPS Growth 8.35%
Next Y EPS Growth 13.64%
Next Y revenue growth 16.23% (at or above 10%: strong)
Next 5Y EPS Growth 13.15%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.2×, against a ten-year median of 1.1×; over the ten years it ranged from 0.7× in 2016 to 1.4× in 2025.
P/E against its own 10 years 32.24%
10-year low 10-year high
P/S against its own 10 years 33.68%
10-year low 10-year high
P/B against its own 10 years 81.79%
10-year low 10-year high
EV/Sales against its own 10 years 66.29%
10-year low 10-year high
EV/FCF against its own 10 years 51.49%
10-year low 10-year high

Dividends

Payout Ratio 1.16
Annual Dividend Rate 1.89
Annual Dividend Yield 8.91%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.89
0.47
0.47
0.47
2025 1.89
0.47
0.47
0.47
0.47
2024 1.89
0.47
0.47
0.47
0.47
2023 1.89
0.47
0.47
0.47
0.47
2022 1.89
0.47
0.47
0.47
0.47
2021 1.89
0.47
0.47
0.47
0.47
2020 1.89
0.47
0.47
0.47
0.47
2019 1.80
0.43
0.45
0.46
0.46
2018 1.61
0.39
0.40
0.41
0.42
2017 1.44
0.35
0.35
0.37
0.38
2016 1.62
0.31
0.32
0.33
0.34
0.34
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 59 58 44 49
Receivables 163 178 96 105
Inventory 4 4 3 4
Other — — — —
226 241 144 158
2023 2024 2025 Q'26
Payables 31 38 29 27
ST’ Debt — — — —
Other — — — —
56 55 51 46

Compound Annual Growth %

10y 5y 3y
Sales 1.48% 3.83% (9.86%)
Cash Flow (4.67%) (5.56%) (15.43%)
Earnings 2.03% (5.95%) (8.79%)
Book Value (0.54%) (2.60%) (3.89%)

Revenue $m

Mar Jun Sep Dec Year
’26 306 297 — — —
’25 238 297 309 323 1,167
’24 285 284 277 290 1,136
’23 308 264 322 297 1,191
’22 362 449 415 367 1,593
’21 268 322 294 330 1,215
’20 251 239 232 246 967
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 110 130 — — —
’25 46 9 105 120 280
’24 105 122 126 132 485
’23 145 99 101 108 452
’22 105 121 115 123 464
’21 155 132 99 22 408
’20 111 113 117 33 373
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 105 117 — — —
’25 30 (15) 76 112 202
’24 95 112 111 119 436
’23 132 94 84 95 405
’22 84 109 102 114 410
’21 143 117 88 (21) 327
’20 99 104 109 25 336
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.40 0.40 — — —
’25 0.14 0.41 0.42 0.41 1.38
’24 0.42 0.41 0.51 0.43 1.77
’23 0.42 0.34 0.37 0.41 1.54
’22 0.46 0.47 0.42 0.48 1.82
’21 0.43 0.71 0.36 0.84 2.34
’20 0.50 0.43 0.53 0.43 1.88
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 16.00 20.65 20.25 20.95 10.31 21.38 19.71 18.58 21.19 17.75

Analyst estimates 2026–2028

Powerpack
High 24.00 26.25 27.75 26.42 26.48 27.57 29.40 26.00 24.34 25.04
People
People Employees 141 119 145 150 144 151 148 152 153 155
Revenue/emp, $m 7.00 9.86 8.87 7.28 6.71 8.05 10.76 7.83 7.42 7.53
Income, $m
Income, $m Revenue 987 1,173 1,286 1,092 967 1,215 1,593 1,191 1,136 1,167
Gross margin, % 39.66 34.41 29.34 34.75 39.19 36.36 23.69 32.54 36.88 29.81
EBT 354 354 331 334 342 402 336 335 370 299
EBT margin, % 35.92 30.21 25.71 30.56 35.35 33.08 21.08 28.17 32.57 25.64
Net income 353 353 331 333 341 401 335 335 369 299
Depreciation 98 114 109 107 103 109 121 110 112 128
Per share, $
Per share, $ Revenue 36.46 41.31 39.88 31.66 27.47 34.51 45.24 33.81 32.24 33.11
Earnings 1.50 1.72 1.51 1.77 1.88 2.34 1.82 1.54 1.77 1.38
Cash flow 10.63 18.93 13.53 13.07 10.61 11.60 13.17 12.83 13.77 7.96
Capex (11.07) (2.43) (1.24) (1.27) (1.05) (2.31) (1.54) (1.33) (1.39) (2.24)
Free cash flow (0.44) 16.50 12.29 11.80 9.56 9.30 11.63 11.50 12.38 5.72
Book value 34.03 35.18 28.97 27.61 26.00 27.63 25.66 24.31 23.54 22.77
Shares, m 27 28 32 34 35 35 35 35 35 35
Valuation, ×
Valuation, × P/E 14.37 15.27 15.98 15.01 12.61 11.48 12.39 14.08 13.07 13.77
P/S 0.59 0.61 0.61 0.83 0.87 0.78 0.50 0.64 0.72 0.57
P/B 0.63 0.71 0.83 0.96 0.92 0.97 0.88 0.89 0.98 0.83
EV/Sales 1.10 0.99 0.96 1.18 1.26 1.09 0.95 1.24 1.35 1.20
EV/FCF (91.41) 2.47 3.12 3.17 3.63 4.06 3.69 3.66 3.52 6.95
Cash, $m
Cash, $m Operating cash flow 288 537 436 451 373 408 464 452 485 280
Capex (300) (69) (40) (44) (37) (81) (54) (47) (49) (79)
Free cash flow (12) 468 396 407 336 327 410 405 436 202
Balance, $m
Balance, $m Working capital 194 191 198 200 224 174 179 170 186 92
Total debt 595 474 478 400 400 400 400 400 400 400
Net debt 506 447 458 380 383 383 335 341 341 355
Shareholders’ equity 921 999 934 952 915 973 904 856 829 802
Returns, %
Returns, % ROA 2.88 3.17 3.31 4.27 4.81 5.82 4.50 4.04 4.79 3.83
ROIC 16.05 16.19 15.70 16.43 17.00 18.94 17.54 18.67 20.85 17.25
ROE 4.63 5.07 5.11 6.47 7.09 8.75 6.84 6.17 7.40 5.97
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Westlake Chemical Partners LP vs peers in Chemicals (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
HUN Huntsman Corporation $1.5B — (loss-making) — (loss-making) +14.06% (above 0%: growing) n/m −266.67% (below 0%: shrinking) 14.73% 2.22% Compare
GPRE Green Plains, Inc. $1.1B 8.0× 8.2× −19.28% (below 0%: shrinking) n/m +57.21% (above 0%: growing) 25.33% 15.21% Compare
WLKP Westlake Chemical Partners LP $754.6M 13.0× 12.3× −0.01% (below 0%: shrinking) −2.44% (below 0%: shrinking) +866.65% (above 0%: growing) 31.91% 29.39%
LXU Lsb Industries Inc. $729.3M 19.6× 12.8× +11.10% (above 0%: growing) n/m +9,653.02% (above 0%: growing) 6.82% (1.63%) Compare
TROX Tronox Holdings PLC $603.7M — (loss-making) — (loss-making) +18.74% (above 0%: growing) n/m +241.51% (above 0%: growing) 6.34% (2.42%) Compare
RYAM Rayonier Advanced Materials Inc. $468.8M — (loss-making) — (loss-making) +10.61% (above 0%: growing) n/m +69.92% (above 0%: growing) 6.10% (1.69%) Compare
ASIX AdvanSix $450.9M — (loss-making) 24.1× +2.75% (above 0%: growing) −89.74% (below 0%: shrinking) −49.21% (below 0%: shrinking) 7.38% 2.15% Compare
ASPI ASP Isotopes Inc. $433.9M — (loss-making) — (loss-making) +327.63% (above 0%: growing) n/m −182.92% (below 0%: shrinking) 28.89% (667.48%) Compare
VHI Valhi, Inc. $422.3M — (loss-making) 7.0× +9.82% (above 0%: growing) +2,500.00% (above 0%: growing) +435.16% (above 0%: growing) 22.56% 9.88% Compare
Median of peers $536.2M — 10.5× +10.86% — +63.57% 11.06% 0.26%

All 17 Chemicals stocks →

Westlake Chemical Partners LP (WLKP) key facts

  • Concern: Net income was $298.6 million, or $1.38 per share (basic), a net margin of 4.17%.
  • Strength: Westlake Chemical Partners LP’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 2.71% from fiscal 2024.
  • Westlake Chemical Partners LP (WLKP) is a Chemicals company in the Basic Materials sector, listed on the New York Stock Exchange.
  • As of October 9, 2026, WLKP traded at $21.19, a market capitalization of $754.6 million.
  • At that price the stock trades at 13.0× trailing-twelve-month earnings and 0.6× sales; its P/E is higher than 32% of its own readings over the past ten years.
  • Westlake Chemical Partners LP pays an annual dividend of $1.89 per share, a yield of 8.91%, with a payout ratio of 115.7%.
  • Return on equity was 5.97% and debt-to-equity 0.52.
  • Its Piotroski F-score is 4 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Westlake Chemical Partners LP (WLKP) Latest News

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stockrow.com/WLKP · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com