📊 WES Key Takeaways
Is Western Midstream Partners, LP (WES) a Good Investment?
Western Midstream generates strong operating margins (41.8%) and positive free cash flow ($109M), typical of regulated natural gas transmission. However, flat revenue growth (0% YoY) and declining net income (-2.6% YoY) signal business maturity without expansion. Adequate debt service coverage (4.1x) but tight liquidity (1.09x current ratio) limits financial flexibility.
Western Midstream Partners, LP Key Strengths (WES)
- Exceptional operating margins of 41.8% and net margins of 31.2% reflect efficient utility-like business model
- Positive free cash flow of $109M with strong OCF of $469.9M provides distribution support for unitholders
- Interest coverage ratio of 4.1x indicates manageable debt servicing capacity relative to earnings
WES Stock Risks: Western Midstream Partners, LP Investment Risks
- Zero revenue growth (0% YoY) with declining net income (-2.6% YoY) suggests business maturity and limited upside
- Tight liquidity position (1.09x current ratio) constrains financial flexibility for capital needs or economic stress
- High absolute debt burden ($8.2B) against modest free cash flow ($109M) limits growth investment capacity
Key Metrics to Watch
- Free cash flow trend and distribution coverage ratio for unitholder sustainability
- Revenue growth rate inflection - any recovery from current 0% would signal renewed demand
- Debt-to-EBITDA ratio to monitor leverage trends relative to cash generation
Western Midstream Partners, LP (WES) Financial Metrics & Key Ratios
💡 AI Analyst Insight
Western Midstream Partners, LP presents a mixed fundamental picture. Review the detailed metrics above to form your own investment thesis.
WES Profit Margin, ROE & Profitability Analysis
WES vs Energy Sector: How Western Midstream Partners, LP Compares
How Western Midstream Partners, LP compares to Energy sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Western Midstream Partners, LP Stock Overvalued? WES Valuation Analysis 2026
Based on fundamental analysis, Western Midstream Partners, LP has mixed fundamental signals relative to the Energy sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Western Midstream Partners, LP Balance Sheet: WES Debt, Cash & Liquidity
WES Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Western Midstream Partners, LP's revenue has grown significantly by 40% over the 5-year period, indicating strong business expansion.
WES Revenue Growth, EPS Growth & YoY Performance
WES Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $916.9M | $309.0M | N/A |
| Q3 2025 | $883.1M | $288.5M | N/A |
| Q2 2025 | $905.4M | $341.7M | N/A |
| Q1 2025 | $887.3M | $309.0M | N/A |
| Q3 2024 | $775.6M | $277.3M | N/A |
| Q2 2024 | $738.1M | $252.9M | N/A |
| Q1 2024 | $733.7M | $203.6M | N/A |
| Q3 2023 | $775.6M | $265.7M | N/A |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Western Midstream Partners, LP Dividends, Buybacks & Capital Allocation
WES SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Western Midstream Partners, LP (CIK: 0001423902)
📋 Recent SEC Filings
❓ Frequently Asked Questions about WES
What is the AI rating for WES?
Western Midstream Partners, LP (WES) has an AI grade of B with 68% confidence, based on fundamental analysis of SEC EDGAR filings.
What are WES's key strengths?
Claude: Exceptional operating margins of 41.8% and net margins of 31.2% reflect efficient utility-like business model. Positive free cash flow of $109M with strong OCF of $469.9M provides distribution support for unitholders.
What are the risks of investing in WES?
Claude: Zero revenue growth (0% YoY) with declining net income (-2.6% YoY) suggests business maturity and limited upside. Tight liquidity position (1.09x current ratio) constrains financial flexibility for capital needs or economic stress.
What is WES's revenue and growth?
Western Midstream Partners, LP reported revenue of $1.1B.
Does WES pay dividends?
Western Midstream Partners, LP pays dividends, with $379.7M distributed to shareholders in the trailing twelve months.
Where can I find WES SEC filings?
Official SEC filings for Western Midstream Partners, LP (CIK: 0001423902) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is WES's EPS?
Western Midstream Partners, LP has a diluted EPS of $0.00.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.
What is WES's fundamental grade?
Based on our AI fundamental analysis in June 2026, Western Midstream Partners, LP has a B grade with 68% confidence. Review the strengths and risks sections above for full context. This is not investment advice.
Is WES stock overvalued or undervalued?
Valuation metrics for WES: ROE of N/A (sector avg: 14%), net margin of 31.2% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
What is WES's AI grade for 2026?
Our dual AI analysis gives Western Midstream Partners, LP a combined B grade for 2026. Revenue is data pending, with profitability above sector average. Always conduct your own research.
What is WES's free cash flow?
Western Midstream Partners, LP's operating cash flow is $469.9M, with capital expenditures of $361.0M. FCF margin is 9.7%.
How does WES compare to other Energy stocks?
Vs Energy sector averages: Net margin 31.2% (avg: 12%), ROE N/A (avg: 14%), current ratio 1.09 (avg: 1.3).