WESTERN MIDSTREAM PARTNERS L (WES) Fundamental Analysis & Valuation

NYSE:WES • US9586691035

Current stock price

41.66 USD
+0.33 (+0.8%)
At close:
41.1106 USD
-0.55 (-1.32%)
After Hours:

This WES fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. WES Profitability Analysis

1.1 Basic Checks

  • WES had positive earnings in the past year.
  • In the past year WES had a positive cash flow from operations.
  • WES had positive earnings in each of the past 5 years.
  • Each year in the past 5 years WES had a positive operating cash flow.
WES Yearly Net Income VS EBIT VS OCF VS FCFWES Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M 1B 1.5B 2B

1.2 Ratios

  • With an excellent Return On Assets value of 7.70%, WES belongs to the best of the industry, outperforming 80.29% of the companies in the same industry.
  • With an excellent Return On Equity value of 28.71%, WES belongs to the best of the industry, outperforming 91.83% of the companies in the same industry.
  • The Return On Invested Capital of WES (9.54%) is better than 82.69% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for WES is significantly below the industry average of 22.30%.
  • The last Return On Invested Capital (9.54%) for WES is above the 3 year average (9.38%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 7.7%
ROE 28.71%
ROIC 9.54%
ROA(3y)9.13%
ROA(5y)9.18%
ROE(3y)36.89%
ROE(5y)36.2%
ROIC(3y)9.38%
ROIC(5y)9.33%
WES Yearly ROA, ROE, ROICWES Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

1.3 Margins

  • With an excellent Profit Margin value of 30.04%, WES belongs to the best of the industry, outperforming 87.98% of the companies in the same industry.
  • WES's Profit Margin has improved in the last couple of years.
  • WES has a better Operating Margin (43.24%) than 88.94% of its industry peers.
  • In the last couple of years the Operating Margin of WES has remained more or less at the same level.
  • WES's Gross Margin of 94.61% is amongst the best of the industry. WES outperforms 98.56% of its industry peers.
  • In the last couple of years the Gross Margin of WES has remained more or less at the same level.
Industry RankSector Rank
OM 43.24%
PM (TTM) 30.04%
GM 94.61%
OM growth 3Y2.1%
OM growth 5Y-1.43%
PM growth 3Y-6.36%
PM growth 5Y10.05%
GM growth 3Y2.81%
GM growth 5Y0.3%
WES Yearly Profit, Operating, Gross MarginsWES Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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4

2. WES Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so WES is still creating some value.
  • Compared to 1 year ago, WES has more shares outstanding
  • WES has less shares outstanding than it did 5 years ago.
  • WES has a better debt/assets ratio than last year.
WES Yearly Shares OutstandingWES Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M
WES Yearly Total Debt VS Total AssetsWES Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B

2.2 Solvency

  • WES has a debt to FCF ratio of 5.78. This is a neutral value as WES would need 5.78 years to pay back of all of its debts.
  • WES's Debt to FCF ratio of 5.78 is fine compared to the rest of the industry. WES outperforms 63.94% of its industry peers.
  • WES has a Debt/Equity ratio of 2.04. This is a high value indicating a heavy dependency on external financing.
  • WES's Debt to Equity ratio of 2.04 is on the low side compared to the rest of the industry. WES is outperformed by 79.33% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.04
Debt/FCF 5.78
Altman-Z N/A
ROIC/WACC1.34
WACC7.13%
WES Yearly LT Debt VS Equity VS FCFWES Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B 4B 6B 8B

2.3 Liquidity

  • A Current Ratio of 1.34 indicates that WES should not have too much problems paying its short term obligations.
  • WES's Current ratio of 1.34 is fine compared to the rest of the industry. WES outperforms 61.06% of its industry peers.
  • WES has a Quick Ratio of 1.33. This is a normal value and indicates that WES is financially healthy and should not expect problems in meeting its short term obligations.
  • WES has a Quick ratio of 1.33. This is in the better half of the industry: WES outperforms 66.83% of its industry peers.
Industry RankSector Rank
Current Ratio 1.34
Quick Ratio 1.33
WES Yearly Current Assets VS Current LiabilitesWES Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. WES Growth Analysis

3.1 Past

  • The earnings per share for WES have decreased strongly by -25.56% in the last year.
  • The Earnings Per Share has been growing slightly by 3.47% on average over the past years.
  • Looking at the last year, WES shows a small growth in Revenue. The Revenue has grown by 6.61% in the last year.
  • The Revenue has been growing slightly by 6.75% on average over the past years.
EPS 1Y (TTM)-25.56%
EPS 3Y0%
EPS 5Y3.47%
EPS Q2Q%-44.71%
Revenue 1Y (TTM)6.61%
Revenue growth 3Y5.73%
Revenue growth 5Y6.75%
Sales Q2Q%11.09%

3.2 Future

  • WES is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 12.69% yearly.
  • The Revenue is expected to decrease by -71.62% on average over the next years. This is quite bad
EPS Next Y10.69%
EPS Next 2Y11.18%
EPS Next 3Y12.69%
EPS Next 5YN/A
Revenue Next Year5.02%
Revenue Next 2Y8.12%
Revenue Next 3Y-71.62%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
WES Yearly Revenue VS EstimatesWES Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1B 2B 3B 4B
WES Yearly EPS VS EstimatesWES Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1 2 3 4

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6

4. WES Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 13.89, WES is valued correctly.
  • Based on the Price/Earnings ratio, WES is valued a bit cheaper than 72.12% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 25.23. WES is valued slightly cheaper when compared to this.
  • A Price/Forward Earnings ratio of 12.55 indicates a correct valuation of WES.
  • Based on the Price/Forward Earnings ratio, WES is valued cheaply inside the industry as 80.29% of the companies are valued more expensively.
  • The average S&P500 Price/Forward Earnings ratio is at 23.28. WES is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 13.89
Fwd PE 12.55
WES Price Earnings VS Forward Price EarningsWES Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • WES's Enterprise Value to EBITDA ratio is in line with the industry average.
  • Based on the Price/Free Cash Flow ratio, WES is valued cheaper than 82.21% of the companies in the same industry.
Industry RankSector Rank
P/FCF 10.97
EV/EBITDA 10.15
WES Per share dataWES EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The excellent profitability rating of WES may justify a higher PE ratio.
  • WES's earnings are expected to grow with 12.69% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.3
PEG (5Y)4.01
EPS Next 2Y11.18%
EPS Next 3Y12.69%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. WES Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 8.85%, WES is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 3.47, WES pays a better dividend. On top of this WES pays more dividend than 89.90% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.91, WES pays a better dividend.
Industry RankSector Rank
Dividend Yield 8.85%

5.2 History

  • On average, the dividend of WES grows each year by 17.51%, which is quite nice.
  • WES has been paying a dividend for at least 10 years, so it has a reliable track record.
  • WES has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)17.51%
Div Incr Years3
Div Non Decr Years3
WES Yearly Dividends per shareWES Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • WES pays out 123.95% of its income as dividend. This is not a sustainable payout ratio.
  • WES's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP123.95%
EPS Next 2Y11.18%
EPS Next 3Y12.69%
WES Yearly Income VS Free CF VS DividendWES Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M 1B 1.5B
WES Dividend Payout.WES Dividend Payout, showing the Payout Ratio.WES Dividend Payout.PayoutRetained Earnings

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WES Fundamentals: All Metrics, Ratios and Statistics

WESTERN MIDSTREAM PARTNERS L

NYSE:WES (3/20/2026, 8:04:00 PM)

After market: 41.1106 -0.55 (-1.32%)

41.66

+0.33 (+0.8%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-18
Earnings (Next)05-05
Inst Owners41.83%
Inst Owner Change9.19%
Ins Owners0.24%
Ins Owner Change9.79%
Market Cap16.40B
Revenue(TTM)3.84B
Net Income(TTM)1.15B
Analysts65.56
Price Target42.47 (1.94%)
Short Float %2.76%
Short Ratio4.58
Dividend
Industry RankSector Rank
Dividend Yield 8.85%
Yearly Dividend3.63
Dividend Growth(5Y)17.51%
DP123.95%
Div Incr Years3
Div Non Decr Years3
Ex-Date02-02
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-23.93%
Min EPS beat(2)-45.43%
Max EPS beat(2)-2.42%
EPS beat(4)1
Avg EPS beat(4)-12.52%
Min EPS beat(4)-45.43%
Max EPS beat(4)4%
EPS beat(8)3
Avg EPS beat(8)3.5%
EPS beat(12)4
Avg EPS beat(12)0.66%
EPS beat(16)6
Avg EPS beat(16)1.75%
Revenue beat(2)0
Avg Revenue beat(2)-2.61%
Min Revenue beat(2)-3.06%
Max Revenue beat(2)-2.17%
Revenue beat(4)0
Avg Revenue beat(4)-2.19%
Min Revenue beat(4)-3.06%
Max Revenue beat(4)-0.5%
Revenue beat(8)1
Avg Revenue beat(8)-2.2%
Revenue beat(12)1
Avg Revenue beat(12)-3.37%
Revenue beat(16)3
Avg Revenue beat(16)-2.67%
PT rev (1m)-0.07%
PT rev (3m)-0.27%
EPS NQ rev (1m)-16.92%
EPS NQ rev (3m)-17.19%
EPS NY rev (1m)-10.08%
EPS NY rev (3m)-11.37%
Revenue NQ rev (1m)-1.84%
Revenue NQ rev (3m)-1.66%
Revenue NY rev (1m)-1.65%
Revenue NY rev (3m)-1.87%
Valuation
Industry RankSector Rank
PE 13.89
Fwd PE 12.55
P/S 4.27
P/FCF 10.97
P/OCF 7.38
P/B 4.08
P/tB 5.95
EV/EBITDA 10.15
EPS(TTM)3
EY7.2%
EPS(NY)3.32
Fwd EY7.97%
FCF(TTM)3.8
FCFY9.11%
OCF(TTM)5.65
OCFY13.55%
SpS9.76
BVpS10.21
TBVpS7
PEG (NY)1.3
PEG (5Y)4.01
Graham Number26.26
Profitability
Industry RankSector Rank
ROA 7.7%
ROE 28.71%
ROCE 12.08%
ROIC 9.54%
ROICexc 10.14%
ROICexgc 11.25%
OM 43.24%
PM (TTM) 30.04%
GM 94.61%
FCFM 38.89%
ROA(3y)9.13%
ROA(5y)9.18%
ROE(3y)36.89%
ROE(5y)36.2%
ROIC(3y)9.38%
ROIC(5y)9.33%
ROICexc(3y)9.97%
ROICexc(5y)9.77%
ROICexgc(3y)10.74%
ROICexgc(5y)10.52%
ROCE(3y)12.44%
ROCE(5y)12.31%
ROICexgc growth 3Y1.04%
ROICexgc growth 5Y2.17%
ROICexc growth 3Y0.01%
ROICexc growth 5Y1.59%
OM growth 3Y2.1%
OM growth 5Y-1.43%
PM growth 3Y-6.36%
PM growth 5Y10.05%
GM growth 3Y2.81%
GM growth 5Y0.3%
F-Score4
Asset Turnover0.26
Health
Industry RankSector Rank
Debt/Equity 2.04
Debt/FCF 5.78
Debt/EBITDA 3.45
Cap/Depr 102.42%
Cap/Sales 18.94%
Interest Coverage 4.36
Cash Conversion 93.67%
Profit Quality 129.46%
Current Ratio 1.34
Quick Ratio 1.33
Altman-Z N/A
F-Score4
WACC7.13%
ROIC/WACC1.34
Cap/Depr(3y)117.67%
Cap/Depr(5y)98.71%
Cap/Sales(3y)21.91%
Cap/Sales(5y)18.32%
Profit Quality(3y)102.33%
Profit Quality(5y)114.23%
High Growth Momentum
Growth
EPS 1Y (TTM)-25.56%
EPS 3Y0%
EPS 5Y3.47%
EPS Q2Q%-44.71%
EPS Next Y10.69%
EPS Next 2Y11.18%
EPS Next 3Y12.69%
EPS Next 5YN/A
Revenue 1Y (TTM)6.61%
Revenue growth 3Y5.73%
Revenue growth 5Y6.75%
Sales Q2Q%11.09%
Revenue Next Year5.02%
Revenue Next 2Y8.12%
Revenue Next 3Y-71.62%
Revenue Next 5YN/A
EBIT growth 1Y6.01%
EBIT growth 3Y7.95%
EBIT growth 5Y5.23%
EBIT Next Year48.25%
EBIT Next 3Y18.87%
EBIT Next 5Y12.77%
FCF growth 1Y14.71%
FCF growth 3Y7.17%
FCF growth 5Y4.24%
OCF growth 1Y4.01%
OCF growth 3Y9.32%
OCF growth 5Y6.3%

WESTERN MIDSTREAM PARTNERS L / WES Fundamental Analysis FAQ

What is the fundamental rating for WES stock?

ChartMill assigns a fundamental rating of 5 / 10 to WES.


What is the valuation status of WESTERN MIDSTREAM PARTNERS L (WES) stock?

ChartMill assigns a valuation rating of 6 / 10 to WESTERN MIDSTREAM PARTNERS L (WES). This can be considered as Fairly Valued.


How profitable is WESTERN MIDSTREAM PARTNERS L (WES) stock?

WESTERN MIDSTREAM PARTNERS L (WES) has a profitability rating of 8 / 10.


Can you provide the PE and PB ratios for WES stock?

The Price/Earnings (PE) ratio for WESTERN MIDSTREAM PARTNERS L (WES) is 13.89 and the Price/Book (PB) ratio is 4.08.


What is the financial health of WESTERN MIDSTREAM PARTNERS L (WES) stock?

The financial health rating of WESTERN MIDSTREAM PARTNERS L (WES) is 4 / 10.