WES
$44.38+0.02%
as of close, Oct 1, 2026
☾ AH $44.38 +0.02%
Western Midstream Partners LP Common Units Representing Limited Partner InterestsStock · Utilities
WES financial statements
The full income statement, balance sheet, and cash-flow statement for Western Midstream Partners LP Common Units Representing Limited Partner Interests (WES), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 380.5M2024-09 380.6M2024-12 381.3M2025-03 381.3M2025-06 381.3M2025-09 408.0M2025-12 393.7M2026-03 393.8M2026-06 413.2M+8.6% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 3.84B+6.6% | 3.60B+16.1% | 3.11B-4.5% | 3.25B+13.0% | 2.88B+3.8% | |
| Selling, general & administrative | 399M+46.9% | 272M+16.7% | 233M+19.9% | 194M-0.8% | 196M+25.5% | |
| General & administrative | 399M+46.9% | 272M+16.7% | 233M+19.9% | 194M-0.8% | 196M+25.5% | |
| Amortization of intangibles | 34.8M+9.8% | 31.7M+0.0% | 31.7M+0.0% | 31.7M+0.0% | 31.7M-3.9% | |
| Operating income | 1.60B-18.7% | 1.97B+42.9% | 1.38B-13.1% | 1.59B+18.8% | 1.34B+52.0% | |
| Interest expense | 390M+3.2% | 379M+8.7% | 348M+4.3% | 334M-11.3% | 377M-0.9% | |
| Other non-operating income | 16.6M-47.6% | 31.7M+458.9% | 5.68M+254.3% | 1.60M+357.3% | -623K-160.8% | |
| Equity-method income | 85.8M-23.7% | 112M-26.5% | 153M-16.6% | 183M-10.3% | 205M-9.7% | |
| Pre-tax income | 1.23B-24.7% | 1.63B+54.8% | 1.05B-16.2% | 1.26B+34.4% | 934M+78.7% | |
| Income tax | 15.1M-16.7% | 18.1M+313.0% | 4.38M+4.7% | 4.19M+142.7% | -9.81M-263.5% | |
| 1.18B-24.9% | 1.57B+53.9% | 1.02B-16.0% | 1.22B+32.8% | 916M+73.9% | ||
| Net income to non-controlling interest | 31.5M-16.5% | 37.7M+46.1% | 25.8M-24.9% | 34.4M+24.0% | 27.7M+372.7% | |
| Dividends per share | $3.64+11.2% | $3.27+27.1% | $2.57+34.5% | $1.91+44.5% | $1.32-21.5% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.66B-10.3% | 1.85B+86.1% | 992M+10.2% | 900M+31.5% | 685M-27.4% | ||
| Cash & equivalents | 819M-24.8% | 1.09B+299.7% | 273M-4.8% | 287M+41.9% | 202M-54.6% | |
| Accounts receivable | 759M+8.3% | 701M+5.3% | 666M+21.3% | 549M+27.2% | 432M-4.7% | |
| Other current assets | 64.3M+17.1% | 54.9M+3.6% | 53.0M-11.0% | 59.5M+28.7% | 46.3M+2.2% | |
| 15.0B+14.1% | 13.1B+5.4% | 12.5B+10.6% | 11.3B-0.0% | 11.3B-4.7% | ||
| Property, plant & equipment | 11.2B+15.5% | 9.71B+0.6% | 9.66B+13.0% | 8.54B+0.3% | 8.51B-2.3% | |
| Operating lease right-of-use | 188M-14.4% | 220M+160.4% | 84.3M+25.6% | 67.1M-6.5% | 71.7M+84.0% | |
| Goodwill | 353M+7285.7% | 4.78M+0.0% | 4.78M+0.0% | 4.78M+0.0% | 4.78M+0.0% | |
| Intangible assets | 914M+40.6% | 650M-4.6% | 681M-4.4% | 713M-4.3% | 745M-4.1% | |
| Other non-current assets | 349M-9.9% | 387M+65.8% | 233M+39.8% | 167M+5.3% | 159M-7.2% | |
| 1.24B-26.9% | 1.69B+29.7% | 1.30B+44.3% | 904M-20.7% | 1.14B+18.7% | ||
| Accounts payable | 319M+2.0% | 313M-13.7% | 362M+0.5% | 361M+10.6% | 326M+54.8% | |
| Accrued liabilities | 408M+24.0% | 329M+25.5% | 263M+3.1% | 255M-3.3% | 263M-2.5% | |
| Deferred revenue | 22.9M+107.0% | 11.1M-34.5% | 16.9M-19.3% | 20.9M-24.7% | 27.8M-11.8% | |
| Short-term & current debt | 449M-55.6% | 1.01B+63.7% | 618M+186.3% | 216M-57.3% | 506M+15.3% | |
| Current lease liability | 65.3M+10.9% | 58.9M+423.1% | 11.3M+8.9% | 10.3M-2.0% | 10.6M+166.8% | |
| Finance lease liability (current) | 8.62M-21.3% | 11.0M+47.3% | 7.44M+179.7% | 2.66M-29.9% | 3.79M-54.1% | |
| 10.8B+10.9% | 9.77B+3.5% | 9.44B+15.7% | 8.16B-0.2% | 8.18B-8.5% | ||
| Long-term debt | 8.20B+18.3% | 6.93B-4.9% | 7.28B+10.9% | 6.57B+2.6% | 6.40B-13.7% | |
| Deferred revenue (non-current) | 744M+24.1% | 600M+39.9% | 429M+23.0% | 348M+22.1% | 285M+21.2% | |
| Non-current lease liability | 110M-23.4% | 144M+196.7% | 48.5M+45.4% | 33.3M-6.0% | 35.4M+1.7% | |
| Operating lease liability (total) | 175M-13.5% | 203M+239.4% | 59.7M+36.8% | 43.7M-5.1% | 46.0M+18.6% | |
| Finance lease liability (total) | 21.0M-38.6% | 34.3M-5.0% | 36.1M+429.5% | 6.82M+28.0% | 5.33M-83.3% | |
| Finance lease liability | 12.4M-46.7% | 23.3M-18.6% | 28.7M+589.1% | 4.16M+171.4% | 1.53M-93.5% | |
| Deferred tax liabilities | 111M+274.9% | 29.7M+91.9% | 15.5M+7.2% | 14.4M+16.1% | 12.4M-44.0% | |
| Other non-current liabilities | 865M+15.1% | 751M+56.5% | 480M+24.5% | 386M+18.4% | 326M+18.2% | |
| Total non-current liabilities | 9.60B+18.8% | 8.08B-0.7% | 8.14B+12.1% | 7.26B+3.2% | 7.04B-11.7% | |
| Total liabilities & equity | 15.0B+14.1% | 13.1B+5.4% | 12.5B+10.6% | 11.3B-0.0% | 11.3B-4.7% | |
| Shares outstanding (cover) | 394M+3.2% | 381M+0.2% | 380M-1.1% | 385M-4.6% | 404M-2.3% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 2.22B+4.0% | 2.14B+28.6% | 1.66B-2.4% | 1.70B-3.7% | 1.77B+7.9% | ||
| Depreciation & amortization | 711M+9.3% | 650M+8.3% | 601M+3.1% | 582M+5.6% | 552M+12.3% | |
| Intangible amortization | 34.8M+9.8% | 31.7M+0.0% | 31.7M+0.0% | 31.7M+0.0% | 31.7M-3.9% | |
| Share-based compensation | 50.8M+33.7% | 38.0M+18.7% | 32.0M+15.2% | 27.8M+0.4% | 27.7M+23.2% | |
| Deferred income taxes | 3.94M-72.2% | 14.2M+1261.2% | 1.04M-47.8% | 2.00M+120.5% | -9.77M-396.4% | |
| Change in receivables | -36.0M-184.2% | 42.8M-45.4% | 78.3M-32.6% | 116M+810.6% | -16.4M-108.4% | |
| Other operating activities | 303K+22.2% | 248K-43.9% | 442K-13.3% | 510K+96.2% | 260K+34.7% | |
| -1.09B-2670.6% | -39.2M+97.6% | -1.61B-636.5% | -218M+15.3% | -258M+42.5% | ||
| Capital expenditure | 728M-12.7% | 834M+13.4% | 735M+50.9% | 487M+55.3% | 314M-26.0% | |
| Free cash flow | 1.49B+14.7% | 1.30B+40.7% | 926M-23.7% | 1.21B-16.4% | 1.45B+19.7% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other investing activities | 20.1M+10.1% | 18.3M-43.4% | 32.3M+241.5% | 9.47M+185.4% | -11.1M-119.2% | |
| -1.41B-10.0% | -1.28B-1784.8% | -67.9M+95.1% | -1.40B+20.2% | -1.75B-107.6% | ||
| Long-term debt issued | 1.18B+50.1% | 789M-67.8% | 2.45B+76.3% | 1.39B+189.4% | 480M-87.0% | |
| Long-term debt repaid | 1.08B+651.2% | 144M-92.7% | 1.97B+29.6% | 1.52B+6.0% | 1.43B-62.3% | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00-100.0% | 135M-72.4% | 488M+124.2% | 217M+568.4% | |
| Dividends paid | 1.43B+14.8% | 1.25B+27.4% | 978M+33.0% | 736M+37.8% | 534M-23.3% | |
| Other financing activities | -41.5M-24.2% | -33.4M-79.2% | -18.6M-36.5% | -13.6M-25.8% | -10.8M+23.6% | |
| Net change in cash | -271M-133.1% | 818M+5995.7% | -13.9M-116.4% | 84.7M+134.8% | -243M-170.4% | |
| Interest paid | 381M+5.6% | 361M+10.4% | 327M-8.0% | 355M-5.2% | 375M+7.2% | |
| Income taxes paid | 3.11M+39.6% | 2.23M-46.1% | 4.13M+353.0% | 912K-2.8% | 938K+344.3% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 15.5B+6.1% | 14.7B+32.0% | 11.1B+7.4% | 10.3B+15.0% | 8.99B+57.4% | |
| P/E | 13.2×+41.4% | 9.3×-10.3% | 10.4×+12.8% | 9.2×-6.2% | 9.8×-9.5% | |
| P/S | 4.0×-0.4% | 4.1×+10.8% | 3.7×+13.2% | 3.2×+3.7% | 3.1×+51.7% | |
| P/FCF | 10.4×-7.5% | 11.2×+0.8% | 11.2×+55.3% | 7.2×+16.2% | 6.2×+31.5% | |
| Earnings yield | 7.6%-29.3% | 10.7%+11.4% | 9.6%-11.4% | 10.9%+6.7% | 10.2%+10.4% | |
| FCF yield | 9.6%+8.1% | 8.9%-0.8% | 9.0%-35.6% | 13.9%-13.9% | 16.2%-24.0% | |
| Dividend yield | 9.2%+8.2% | 8.5%-3.2% | 8.8%+23.4% | 7.1%+19.9% | 5.9%-51.3% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: WES’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all WES filings on SEC EDGAR → Not investment advice.