Western Midstream Partners, Lp - Understand $wes stock

$WES Market Cap: $15.23 Billion

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Financial Snapshot

Revenue

$3.535B

TTM

Gross Margin

95.1%

TTM

Net Earnings

$1.522B

TTM

Current Assets

$1.833B

Q3 2024

Current Liabilities

$1.646B

Q3 2024

Current Ratio

111.33%

Q3 2024

Total Assets

$12.98B

Q3 2024

Total Liabilities

$9.604B

Q3 2024

Book Value

$3.378B

Q3 2024

Cash

$1.125B

Q3 2024

P/E

10.01

Nov 29, 2024 EST

Free Cash Flow

$1.262B

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue	$3.106B	$3.252B	$2.877B	$2.773B	$2.746B	$2.300B	$2.430B	$1.941B	$1.752B	$1.533B	$1.200B	$894.5M	$858.1M	$663.3M	$619.8M	$922.3M
YoY Change	-4.47%	13.02%	3.77%	0.96%	19.42%	-5.35%	25.15%	10.8%	14.26%	27.78%	34.16%	4.23%	29.37%	7.02%	-32.8%	26.12%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue	$3.106B	$3.252B	$2.877B	$2.773B	$2.746B	$2.300B	$2.430B	$1.941B	$1.752B	$1.533B	$1.200B	$894.5M	$858.1M	$663.3M	$619.8M	$922.3M
Cost Of Revenue	$164.6M	$420.9M	$322.3M	$188.1M	$444.2M	$415.5M	$953.8M	$517.4M	$528.4M	$454.4M	$373.2M	$336.1M	$327.4M	$246.5M	$238.9M	$615.5M
Gross Profit	$2.942B	$2.831B	$2.555B	$2.585B	$2.302B	$1.884B	$1.476B	$1.424B	$1.224B	$928.4M	$712.3M	$558.4M	$542.0M	$416.8M	$380.9M	$306.9M
Gross Profit Margin	94.7%	87.06%	88.8%	93.22%	83.82%	81.93%	60.74%	73.35%	69.84%	60.55%	59.36%	62.43%	63.16%	62.84%	61.46%	33.28%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Selling, General & Admin	$1.052B	$927.1M	$841.1M	$805.0M	$817.2M	$599.9M	$452.7M	$397.4M	$409.7M	$321.4M	$260.6M	$259.5M	$183.6M	$147.8M	$153.9M
YoY Change	13.43%	10.23%	4.49%	-1.49%	36.22%	32.52%	13.92%	-3.0%	27.47%	23.33%	0.42%	41.34%	24.22%	-3.96%
% of Gross Profit	35.75%	32.75%	32.92%	31.15%	35.5%	31.84%	30.67%	27.91%	33.48%	34.62%	36.59%	46.47%	33.87%	35.46%	40.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$600.7M	$582.4M	$551.6M	$491.1M	$483.3M	$389.2M	$318.8M	$296.0M	$272.6M	$211.8M	$172.9M	$120.6M	$113.1M	$91.00M	$90.70M	$116.4M
YoY Change	3.14%	5.57%	12.33%	1.62%	24.18%	22.08%	7.71%	8.56%	28.71%	22.53%	43.33%	6.61%	24.32%	0.33%	-22.08%	41.26%
% of Gross Profit	20.42%	20.57%	21.59%	19.0%	20.99%	20.65%	21.6%	20.78%	22.28%	22.81%	24.27%	21.6%	20.87%	21.83%	23.81%	37.93%
Operating Expenses	$1.652B	$1.510B	$1.393B	$1.296B	$1.300B	$989.1M	$771.4M	$670.3M	$682.4M	$507.9M	$410.3M	$380.1M	$296.7M	$238.8M	$244.6M	$116.3M
YoY Change	9.46%	8.38%	7.46%	-0.33%	31.47%	28.22%	15.08%	-1.77%	34.36%	23.79%	7.95%	28.11%	24.25%	-2.37%	110.32%	41.14%
Operating Profit	$1.380B	$1.588B	$1.336B	$878.9M	$1.231B	$861.3M	$801.7M	$783.1M	$154.2M	$551.5M	$321.9M	$194.3M	$245.3M	$178.0M	$136.3M	$190.6M
YoY Change	-13.12%	18.83%	52.04%	-28.62%	42.97%	7.43%	2.38%	407.89%	-72.04%	71.32%	65.67%	-20.79%	37.81%	30.59%	-28.49%	3.76%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Interest Expense	$348.2M	$333.9M	$376.5M	$380.1M	$303.3M	$183.8M	$142.5M	$109.3M	$113.9M	$76.77M	$51.80M	$42.06M	$30.35M	$4.800M	$11.30M	$13.10M
YoY Change	4.28%	-11.31%	-0.93%	25.31%	64.98%	28.99%	30.43%	-4.04%	48.33%	48.21%	23.15%	38.61%	532.19%	-57.52%	-13.74%	-362.0%
% of Operating Profit	25.24%	21.03%	28.18%	43.24%	24.63%	21.34%	17.78%	13.95%	73.86%	13.92%	16.09%	21.65%	12.37%	2.7%	8.29%	6.87%
Other Income/Expense, Net	$5.679M	$1.603M	-$623.0K	$1.025M	-$123.8M	-$4.763M	$1.384M	$545.0K	-$578.0K	$938.0K	$1.935M	$292.0K	-$44.00K	-$3.900M	$1.100M	$1.500M
YoY Change	254.27%	-357.3%	-160.78%	-100.83%	2498.89%	-444.15%	153.94%	-194.29%	-161.62%	-51.52%	562.67%	-763.64%	-98.87%	-454.55%	-26.67%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Pretax Income	$1.052B	$1.256B	$934.2M	$522.9M	$821.2M	$689.6M	$677.5M	$691.3M	$56.63M	$492.6M	$288.9M	$169.4M	$239.0M	$178.9M	$148.7M	$205.1M
YoY Change	-16.19%	34.41%	78.67%	-36.33%	19.08%	1.79%	-2.0%	1120.65%	-88.5%	70.46%	70.53%	-29.11%	33.6%	20.31%	-27.5%	14.77%
Income Tax	$4.385M	$4.187M	-$9.807M	$5.998M	$13.47M	$58.93M	-$59.92M	$32.97M	$45.53M	$39.06M	$4.266M	$48.88M	$58.80M	$51.50M	$39.70M	$65.30M
% Of Pretax Income	0.42%	0.33%	-1.05%	1.15%	1.64%	8.55%	-8.85%	4.77%	80.4%	7.93%	1.48%	28.85%	24.6%	28.79%	26.7%	31.84%
Net Earnings	$1.022B	$1.217B	$916.3M	$527.0M	$697.2M	$551.6M	$540.8M	$407.1M	$165.5M	$288.0M	$162.5M	$61.38M	$94.16M	$127.4M	$109.0M	$139.8M
YoY Change	-16.01%	32.83%	73.87%	-24.41%	26.41%	1.99%	32.85%	145.96%	-42.54%	77.24%	164.77%	-34.82%	-26.09%	16.88%	-22.03%	20.73%
Net Earnings / Revenue	32.91%	37.43%	31.85%	19.01%	25.39%	23.98%	22.26%	20.97%	9.45%	18.78%	13.54%	6.86%	10.97%	19.21%	17.59%	15.16%
Basic Earnings Per Share
Diluted Earnings Per Share	$2.60	$3.00	$2.224M	$1.210M	$1.677M	$2.520M	$2.471M	$1.580M	$756.1K	$1.093M	$748.3K	$280.5K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Cash & Short-Term Investments	$272.8M	$286.7M	$202.0M	$445.0M	$100.0M	$92.00M	$80.00M	$359.0M	$100.0M	$67.00M	$113.0M	$423.0M	$227.0M	$27.00M
YoY Change	-4.84%	41.91%	-54.61%	345.0%	8.7%	15.0%	-77.72%	259.0%	49.25%	-40.71%	-73.29%	86.34%	740.74%
Cash & Equivalents	$272.8M	$286.7M	$202.0M	$445.0M	$100.0M	$92.00M	$80.00M	$359.0M	$100.0M	$67.00M	$113.0M	$423.0M	$227.0M	$27.00M
Short-Term Investments
Other Short-Term Assets	$35.78M	$19.67M	$12.27M	$26.00M	$6.000M	$6.000M	$3.000M	$3.000M	$4.000M	$5.000M	$5.000M	$4.000M	$7.000M	$6.000M
YoY Change	81.89%	60.36%	-52.82%	333.33%	0.0%	100.0%	0.0%	-25.0%	-20.0%	0.0%	25.0%	-42.86%	16.67%
Inventory	$2.557M	$3.797M	$3.370M	$1.000M	$24.00M	$11.00M	$11.00M	$7.000M	$2.000M	$5.000M	$3.000M	$2.000M
Prepaid Expenses
Receivables	$675.5M	$552.2M	$441.8M	$458.0M	$268.0M	$227.0M	$160.0M	$193.0M	$143.0M	$105.0M	$84.00M	$49.00M	$23.00M	$12.00M
Other Receivables	$5.801M	$38.06M	$25.31M	$13.00M	$4.000M	$9.000M	$2.000M	$34.00M	$52.00M	$4.000M	$4.000M	$1.000M	$0.00	$0.00
Total Short-Term Assets	$992.4M	$900.4M	$684.8M	$943.0M	$402.0M	$345.0M	$255.0M	$596.0M	$301.0M	$187.0M	$208.0M	$478.0M	$256.0M	$45.00M
YoY Change	10.22%	31.49%	-27.38%	134.58%	16.52%	35.29%	-57.21%	98.01%	60.96%	-10.1%	-56.49%	86.72%	468.89%
Property, Plant & Equipment	$9.739B	$8.609B	$8.585B	$8.749B	$9.069B	$8.410B	$5.731B	$5.050B	$4.859B	$4.571B	$3.383B	$2.718B	$2.052B	$1.754B
YoY Change	13.13%	0.28%	-1.88%	-3.53%	7.84%	46.75%	13.49%	3.93%	6.3%	35.12%	24.47%	32.46%	16.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$904.5M	$944.7M	$1.167B	$1.225B	$1.286B	$1.092B	$566.0M	$594.0M	$619.0M	$634.0M	$593.0M	$106.0M	$110.0M	$114.0M
YoY Change	-4.25%	-19.06%	-4.72%	-4.74%	17.77%	92.93%	-4.71%	-4.04%	-2.37%	6.91%	459.43%	-3.64%	-3.51%
Other Assets	$119.5M	$80.78M	$69.72M	$81.00M	$14.00M	$63.00M	$13.00M	$15.00M	$13.00M	$28.00M	$27.00M	$28.00M	$24.00M	$8.000M
YoY Change	47.9%	15.86%	-13.92%	478.57%	-77.78%	384.62%	-13.33%	15.38%	-53.57%	3.7%	-3.57%	16.67%	200.0%
Total Long-Term Assets	$11.48B	$10.37B	$10.59B	$10.89B	$11.94B	$11.11B	$7.761B	$7.140B	$7.002B	$6.768B	$4.423B	$3.273B	$2.582B	$2.218B
YoY Change	10.68%	-2.05%	-2.74%	-8.85%	7.49%	43.18%	8.7%	1.97%	3.46%	53.02%	35.14%	26.76%	16.41%
Total Assets	$12.47B	$11.27B	$11.27B	$11.83B	$12.35B	$11.46B	$8.016B	$7.736B	$7.303B	$6.955B	$4.631B	$3.751B	$2.838B	$2.263B
YoY Change
Accounts Payable	$362.5M	$360.6M	$326.1M	$211.0M	$293.0M	$443.0M	$350.0M	$247.0M	$99.00M	$54.00M	$40.00M	$25.00M	$27.00M	$17.00M
YoY Change	0.52%	10.58%	54.53%	-27.99%	-33.86%	26.57%	41.7%	149.49%	83.33%	35.0%	60.0%	-7.41%	58.82%
Accrued Expenses	$304.1M	$304.2M	$278.9M	$276.0M	$165.0M	$150.0M	$72.00M	$67.00M	$136.0M	$185.0M	$152.0M	$161.0M	$50.00M	$35.00M
YoY Change	-0.03%	9.06%	1.06%	67.27%	10.0%	108.33%	7.46%	-50.74%	-26.49%	21.71%	-5.59%	222.0%	42.86%
Deferred Revenue
YoY Change
Short-Term Debt	$610.3M	$213.1M	$502.1M	$431.0M	$0.00	$28.00M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	186.37%	-57.56%	16.51%		-100.0%
Long-Term Debt Due	$7.436M	$2.659M	$3.794M	$8.000M	$8.000M					$1.000M
YoY Change	179.65%	-29.92%	-52.58%	0.0%
Total Short-Term Liabilities	$1.304B	$903.9M	$1.140B	$961.0M	$486.0M	$637.0M	$424.0M	$315.0M	$236.0M	$241.0M	$191.0M	$186.0M	$112.0M	$59.00M
YoY Change	44.28%	-20.73%	18.65%	97.74%	-23.7%	50.24%	34.6%	33.47%	-2.07%	26.18%	2.69%	66.07%	89.83%
Long-Term Debt	$7.284B	$6.570B	$6.401B	$7.416B	$7.952B	$5.215B	$3.493B	$3.119B	$2.691B	$2.423B	$1.418B	$1.168B	$669.0M	$474.0M
YoY Change	10.87%	2.64%	-13.69%	-6.74%	52.48%	49.3%	11.99%	15.9%	11.06%	70.87%	21.4%	74.59%	41.14%
Other Long-Term Liabilities	$839.4M	$675.7M	$624.1M	$536.0M	$545.0M	$432.0M	$147.0M	$184.0M	$317.0M	$112.0M	$79.00M	$69.00M	$76.00M	$56.00M
YoY Change	24.24%	8.26%	16.43%	-1.65%	26.16%	193.88%	-20.11%	-41.96%	183.04%	41.77%	14.49%	-9.21%	35.71%
Total Long-Term Liabilities	$8.123B	$7.245B	$7.025B	$7.952B	$8.497B	$5.647B	$3.640B	$3.303B	$3.008B	$2.535B	$1.497B	$1.237B	$745.0M	$530.0M
YoY Change	12.11%	3.14%	-11.66%	-6.41%	50.47%	55.14%	10.2%	9.81%	18.66%	69.34%	21.02%	66.04%	40.57%
Total Liabilities	$9.574B	$8.300B	$8.315B	$9.069B	$9.151B	$9.117B	$6.955B	$6.688B	$5.812B	$5.573B	$3.414B	$2.638B	$2.309B	$1.893B
YoY Change	15.35%	-0.18%	-8.31%	-0.9%	0.37%	31.09%	3.99%	15.07%	4.29%	63.24%	29.42%	14.25%	21.98%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Basic Shares Outstanding
Diluted Shares Outstanding
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $15.23 Billion

About Western Midstream Partners, LP

Western Midstream Partners LP engages in the ownership, operation, acquisition, and development of midstream energy assets. The company is headquartered in The Woodlands, Texas and currently employs 1,377 full-time employees. The company went IPO on 2012-12-07. The firm is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas, gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil, and gathering and disposing of produced water. The Company’s midstream assets are located in Texas, New Mexico, Colorado, Utah and Wyoming. In addition, in its capacity as a processor of natural gas, the Company also buys and sells natural gas, NGLs, and condensate on behalf of itself and as an agent for its customers under certain contracts. The Company’s subsidiaries include Western Midstream Operating GP, LLC, Western Midstream Services, LLC, Western Midstream Services Holdings, LLC and Western Midstream Operating, LP.

Industry: Natural Gas Transmission Peers: Cheniere Energy Partners, L.P. DCP Midstream, LP ENTERPRISE PRODUCTS PARTNERS L.P. Magellan Midstream Partners, L.P. MPLX LP New Fortress Energy Inc. ONEOK INC /NEW/ PLAINS ALL AMERICAN PIPELINE LP Shell Midstream Partners, L.P. Targa Resources Corp.