WES
Western Midstream Partners LP
NYSE: WES · ENERGY · OIL & GAS MIDSTREAM
$43.48
+3.01% today
Updated 2026-04-30
Market cap
$17.22B
P/E ratio
14.16
P/S ratio
4.48x
EPS (TTM)
$2.98
Dividend yield
8.79%
52W range
$33 – $45
Volume
1.6M
Western Midstream Partners LP (WES) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $81.15M | $255.35M | $689.48M | $236.54M | $494.87M | $809.67M | $849.44M | $1.05B | $1.27B | $1.56B | $1.80B | $2.25B | $1.99B | $2.75B | $2.77B | $2.88B | $3.25B | $3.11B | $3.61B | $3.84B |
| Revenue growth (YoY) | — | +214.7% | +170.0% | -65.7% | +109.2% | +63.6% | +4.9% | +24.0% | +20.9% | +22.6% | +15.6% | +24.6% | -11.5% | +38.0% | +1.0% | +3.8% | +13.0% | -4.5% | +16.1% | +6.6% |
| Cost of revenue | $36.76M | $112.28M | $332.88M | $51.14M | $157.05M | $327.37M | $453.34M | $510.20M | $621.11M | $772.60M | $767.13M | $1.20B | $769.46M | $927.50M | $679.17M | $873.91M | $1.00B | $765.27M | $822.68M | $1.21B |
| Gross profit | $44.39M | $143.07M | $356.60M | $185.41M | $337.82M | $482.30M | $396.10M | $543.29M | $652.65M | $788.77M | $1.04B | $1.05B | $1.22B | $1.82B | $2.09B | $2.00B | $2.25B | $2.34B | $2.78B | $2.63B |
| Gross margin | 54.7% | 56.0% | 51.7% | 78.4% | 68.3% | 59.6% | 46.6% | 51.6% | 51.2% | 50.5% | 57.5% | 46.6% | 61.3% | 66.2% | 75.5% | 69.6% | 69.1% | 75.4% | 77.2% | 68.5% |
| R&D | — | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — |
| SG&A | $3.20M | $8.37M | $23.33M | $20.14M | $24.92M | $35.39M | $97.58M | $33.46M | $37.46M | $41.22M | $49.25M | $50.67M | $63.73M | $114.59M | $155.77M | $195.55M | $194.02M | $232.63M | $271.53M | $398.92M |
| Operating income | $23.18M | $63.71M | $165.99M | $80.63M | $151.65M | $209.19M | $147.49M | $317.93M | $448.34M | $34.39M | $704.53M | $704.40M | $625.36M | $1.23B | $878.91M | $1.34B | $1.59B | $1.38B | $1.97B | $1.59B |
| Operating margin | 28.6% | 25.0% | 24.1% | 34.1% | 30.6% | 25.8% | 17.4% | 30.2% | 35.2% | 2.2% | 39.0% | 31.3% | 31.4% | 44.8% | 31.7% | 46.4% | 48.8% | 44.4% | 54.7% | 41.3% |
| EBITDA | — | $94.50M | $249.38M | $249.30M | $288.70M | $349.61M | $279.32M | $482.68M | $710.59M | $814.00M | $910.02M | $1.01B | $1.28B | $1.60B | $1.38B | $1.85B | $2.16B | $1.99B | $2.64B | $2.30B |
| EBITDA margin | 0.0% | 37.0% | 36.2% | 105.4% | 58.3% | 43.2% | 32.9% | 45.8% | 55.8% | 52.1% | 50.4% | 45.1% | 64.6% | 58.1% | 49.8% | 64.3% | 66.4% | 64.0% | 73.4% | 59.9% |
| EBIT | — | $63.71M | $178.34M | $209.24M | $215.91M | $237.71M | $162.06M | $336.76M | $527.43M | $569.84M | $637.08M | $722.68M | $895.80M | $1.11B | $889.41M | $1.30B | $1.58B | $1.39B | $1.99B | $1.59B |
| Interest expense | $0.00 | $7.80M | $364000.00 | $9.96M | $18.79M | $30.34M | $42.06M | $47.35M | $76.77M | $113.87M | $116.63M | $144.62M | $183.83M | $303.29M | $380.06M | $363.81M | $321.73M | $335.83M | $365.21M | $390.49M |
| Income tax | $3.81M | $19.42M | $43.75M | $12000.00 | $10.57M | $45.66M | $29.45M | $2.58M | $2.03M | $3.38M | $8.37M | $4.87M | $2.95M | $13.47M | $6.00M | $-9.81M | $4.19M | $4.38M | $18.11M | — |
| Effective tax rate | 28.2% | 34.7% | 25.7% | 0.0% | 7.7% | 37.6% | 91.3% | 1.6% | 0.9% | 3.7% | 2.4% | 1.3% | 0.8% | 1.9% | 1.1% | -1.1% | 0.3% | 0.4% | 1.1% | 0.0% |
| Net income | $9.71M | $36.56M | $126.32M | $77.34M | $126.07M | $75.64M | $2.81M | $160.16M | $221.91M | $87.86M | $345.77M | $376.61M | $369.43M | $697.24M | $527.01M | $916.29M | $1.22B | $1.02B | $1.57B | $1.17B |
| Net income growth (YoY) | — | +276.5% | +245.5% | -38.8% | +63.0% | -40.0% | -96.3% | +5601.9% | +38.6% | -60.4% | +293.5% | +8.9% | -1.9% | +88.7% | -24.4% | +73.9% | +32.8% | -16.0% | +53.9% | -25.7% |
| Profit margin | 12.0% | 14.3% | 18.3% | 32.7% | 25.5% | 9.3% | 0.3% | 15.2% | 17.4% | 5.6% | 19.2% | 16.8% | 18.6% | 25.4% | 19.0% | 31.8% | 37.4% | 32.9% | 43.6% | 30.4% |