WES · Western Midstream Partners, LP - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $3.84B | $3.61B | $3.11B | $3.25B | $2.88B | $2.77B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $398.92M | $271.53M | $232.63M | $194.02M | $195.55M | $155.77M |
| Total Operating Expenses | $2.32B | $2.04B | $1.87B | $1.95B | $1.75B | $2.13B |
| D&A | $710.78M | $650.43M | $600.67M | $582.37M | $551.63M | $491.09M |
| Operating Income | $1.60B | $1.97B | $1.38B | $1.59B | $1.34B | $878.91M |
| Interest Expense | $390.49M | $378.51M | $348.23M | $333.94M | $376.51M | $380.06M |
| Income Tax | $15.09M | $18.11M | $4.38M | $4.19M | ($9.81M) | $6.00M |
| Net Income | $1.18B | $1.57B | $1.02B | $1.22B | $916.29M | $527.01M |
| EPS - Basic | - | - | - | - | - | - |
| EPS - Diluted | - | - | - | - | - | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $819.49M | $1.09B | $272.79M | $286.66M | $202.00M | $444.92M |
| Accounts Receivable | $759.18M | $701.23M | $665.89M | $548.86M | $436.51M | $452.72M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $319.17M | $312.94M | $362.45M | $360.56M | $326.06M | $210.69M |
| Current Assets | $1.66B | $1.85B | $992.41M | $900.42M | $684.76M | $943.06M |
| Total Assets | $15.00B | $13.14B | $12.47B | $11.27B | $11.27B | $11.83B |
| Current Liabilities | $1.24B | $1.69B | $1.30B | $903.86M | $1.14B | $960.93M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $10.84B | $9.77B | $9.44B | $8.16B | $8.18B | $8.93B |
| Stockholders' Equity | - | - | - | - | - | - |
| Retained Earnings | - | - | - | - | - | - |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.22B | $2.14B | $1.66B | $1.70B | $1.77B | $1.64B |
| Investing Cash Flow | ($1.09B) | ($39.17M) | ($1.61B) | ($218.24M) | ($257.54M) | ($448.25M) |
| Financing Cash Flow | ($1.41B) | ($1.28B) | ($67.91M) | ($1.40B) | ($1.75B) | ($844.20M) |
| CapEx | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 41.7% | 54.7% | 44.4% | 48.8% | 46.4% | 31.7% |
| EBITDA margin | 60.2% | 72.7% | 63.7% | 66.7% | 65.6% | 49.4% |
| Net margin | 30.7% | 43.6% | 32.9% | 37.4% | 31.8% | 19.0% |
| Free cash flow margin | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 10.4% | 7.5% | 7.5% | 6.0% | 6.8% | 5.6% |
| Effective tax rate | 1.3% | 1.1% | 0.4% | 0.3% | -1.1% | 1.1% |
| Return on assets | 7.9% | 12.0% | 8.2% | 10.8% | 8.1% | 4.5% |
| Return on equity | - | - | - | - | - | - |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 1.34 | 1.09 | 0.76 | 1.00 | 0.60 | 0.98 |
| Quick ratio | 1.34 | 1.09 | 0.76 | 1.00 | 0.60 | 0.98 |
| Cash ratio | 0.66 | 0.64 | 0.21 | 0.32 | 0.18 | 0.46 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | 4.1x | 5.2x | 4.0x | 4.8x | 3.5x | 2.3x |
| Equity multiplier | - | - | - | - | - | - |
| Liabilities / Assets | 0.72 | 0.74 | 0.76 | 0.72 | 0.73 | 0.76 |
| Efficiency | ||||||
| Asset turnover | 0.26 | 0.27 | 0.25 | 0.29 | 0.26 | 0.23 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 72d | 71d | 78d | 62d | 55d | 60d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 6.6% | 16.1% | -4.5% | 13.0% | 3.8% | 1.0% |
| Revenue CAGR (3y) | 5.7% | 7.8% | 3.9% | 5.8% | 12.9% | 7.2% |
| Revenue CAGR (5y) | 6.7% | 5.6% | 9.2% | 7.7% | 9.8% | 12.2% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | -18.7% | 42.9% | -13.1% | 18.8% | 52.0% | -28.6% |
| Net income growth (YoY) | -24.9% | 53.9% | -16.0% | 32.8% | 73.9% | -24.4% |
| EPS growth (YoY) | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | - | - | - | - | - | - |
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- -No share dilution
- -Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Natural Gas Transmission
Comparing Western Midstream Partners against the 5 most active filers in the same SIC group.
Dividends
$3.66/share trailing 12 months · +3.5% YoY
| Ex-date | Per share |
|---|---|
| May 1, 2026 | $0.9300 |
| Feb 2, 2026 | $0.9100 |
| Oct 31, 2025 | $0.9100 |
| Aug 1, 2025 | $0.9100 |
| May 2, 2025 | $0.9100 |
| Feb 3, 2025 | $0.8750 |
| Nov 1, 2024 | $0.8750 |
| Aug 1, 2024 | $0.8750 |
| Apr 30, 2024 | $0.8750 |
| Jan 31, 2024 | $0.5750 |
| Oct 31, 2023 | $0.5750 |
| Jul 28, 2023 | $0.5630 |
| Apr 28, 2023 | $0.8560 |
| Jan 31, 2023 | $0.5000 |
| Oct 28, 2022 | $0.5000 |
| Jul 29, 2022 | $0.5000 |
| Apr 29, 2022 | $0.5000 |
| Jan 28, 2022 | $0.3270 |
| Oct 29, 2021 | $0.3230 |
| Jul 29, 2021 | $0.3190 |
| Apr 29, 2021 | $0.3150 |
| Jan 29, 2021 | $0.3110 |
| Oct 29, 2020 | $0.3110 |
| Jul 30, 2020 | $0.3110 |