Westlake Chemical Partners Lp - Understand $wlkp stock

$WLKP Market Cap: $787.4 Million

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Financial Snapshot

Revenue

$1.188B

TTM

Gross Margin

33.57%

TTM

Net Earnings

$56.77M

TTM

Current Assets

$232.1M

Q2 2024

Current Liabilities

$49.61M

Q2 2024

Current Ratio

467.93%

Q2 2024

Total Assets

$1.288B

Q2 2024

Total Liabilities

$453.5M

Q2 2024

Book Value

$834.8M

Q2 2024

Cash

$66.00M

Q2 2024

P/E

13.87

Sep 18, 2024 EST

Free Cash Flow

$385.5M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Revenue	$1.191B	$1.593B	$1.215B	$966.7M	$1.092B	$1.286B	$1.173B	$986.7M	$1.007B	$1.750B	$2.128B	$2.249B	$2.251B
YoY Change	-25.26%	31.14%	25.67%	-11.47%	-15.07%	9.6%	18.87%	-2.03%	-42.43%	-17.77%	-5.4%	-0.08%

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
Revenue	$1.191B	$1.593B	$1.215B	$966.7M	$1.092B	$1.286B	$1.173B	$986.7M	$1.007B	$1.750B	$2.128B	$2.249B	$2.251B
Cost Of Revenue	$803.3M	$1.216B	$773.2M	$587.8M	$712.4M	$908.5M	$769.3M	$595.4M	$624.3M	$1.004B	$1.255B	$1.613B	$1.842B
Gross Profit	$387.5M	$377.4M	$441.7M	$378.9M	$379.4M	$377.2M	$403.7M	$391.3M	$382.9M	$745.8M	$872.6M	$635.7M	$409.1M
Gross Profit Margin	32.54%	23.69%	36.36%	39.19%	34.75%	29.34%	34.41%	39.66%	38.01%	42.63%	41.01%	28.26%	18.17%

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
Selling, General & Admin	$29.75M	$29.68M	$31.02M	$25.90M	$29.28M	$27.59M	$29.26M	$24.89M	$23.55M	$29.26M	$25.50M	$24.10M	$24.30M
YoY Change	0.25%	-4.32%	19.78%	-11.55%	6.12%	-5.71%	17.57%	5.68%	-19.5%	14.73%	5.81%	-0.82%
% of Gross Profit	7.68%	7.86%	7.02%	6.83%	7.72%	7.32%	7.25%	6.36%	6.15%	3.92%	2.92%	3.79%	5.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$110.2M	$121.1M	$108.8M	$103.2M	$107.3M	$108.8M	$114.0M	$98.21M	$81.21M	$77.61M	$57.30M	$53.13M	$57.20M
YoY Change	-8.98%	11.27%	5.49%	-3.88%	-1.4%	-4.51%	16.06%	20.93%	4.64%	35.45%	7.86%	-7.12%
% of Gross Profit	28.44%	32.08%	24.63%	27.23%	28.28%	28.86%	28.24%	25.1%	21.21%	10.41%	6.57%	8.36%	13.98%
Operating Expenses	$29.75M	$29.68M	$31.02M	$25.90M	$29.28M	$27.59M	$29.26M	$24.89M	$23.55M	$29.26M	$25.50M	$24.10M	$24.40M
YoY Change	0.25%	-4.32%	19.78%	-11.55%	6.12%	-5.71%	17.57%	5.68%	-19.5%	14.73%	5.81%	-1.23%
Operating Profit	$357.7M	$347.7M	$410.7M	$353.0M	$350.2M	$349.6M	$374.4M	$366.4M	$359.3M	$716.6M	$847.1M	$611.6M	$384.7M
YoY Change	2.88%	-15.34%	16.35%	0.81%	0.17%	-6.63%	2.17%	1.98%	-49.85%	-15.41%	38.51%	58.98%

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
Interest Expense	-$26.50M	-$13.41M	-$8.816M	-$12.00M	-$19.60M	-$21.40M	-$21.90M	-$12.60M	-$5.000M	-$7.500M	-$3.300M	-$4.800M	-$6.100M
YoY Change	97.67%	52.08%	-26.53%	-38.78%	-8.41%	-2.28%	73.81%	152.0%	-33.33%	127.27%	-31.25%	-21.31%
% of Operating Profit	-7.41%	-3.86%	-2.15%	-3.4%	-5.6%	-6.12%	-5.85%	-3.44%	-1.39%	-1.05%	-0.39%	-0.78%	-1.59%
Other Income/Expense, Net	$4.232M	$1.566M	$62.00K	$733.0K	$3.096M	$2.457M	$1.792M	$601.0K	$160.0K	$3.151M	$3.000M	$0.00	$0.00
YoY Change	170.24%	2425.81%	-91.54%	-76.32%	26.01%	37.11%	198.17%	275.63%	-94.92%	5.03%

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
Pretax Income	$335.4M	$335.8M	$401.9M	$341.7M	$333.6M	$330.6M	$354.3M	$354.4M	$354.5M	$709.2M	$846.8M	$606.8M	$378.6M
YoY Change	-0.12%	-16.44%	17.63%	2.42%	0.92%	-6.7%	-0.03%	-0.02%	-50.01%	-16.25%	39.55%	60.27%
Income Tax	$813.0K	$1.017M	$549.0K	$564.0K	$728.0K	$22.00K	$1.280M	$1.035M	$672.0K	$199.4M	$300.3M	$210.9M	$131.7M
% Of Pretax Income	0.24%	0.3%	0.14%	0.17%	0.22%	0.01%	0.36%	0.29%	0.19%	28.11%	35.46%	34.76%	34.79%
Net Earnings	$54.28M	$64.17M	$82.55M	$66.17M	$60.98M	$49.35M	$48.67M	$40.94M	$39.83M	$13.58M	$546.5M	$395.9M	$247.0M
YoY Change	-15.41%	-22.26%	24.76%	8.5%	23.58%	1.39%	18.88%	2.78%	193.37%	-97.52%	38.04%	60.29%
Net Earnings / Revenue	4.56%	4.03%	6.79%	6.84%	5.59%	3.84%	4.15%	4.15%	3.95%	0.78%	25.69%	17.6%	10.97%
Basic Earnings Per Share
Diluted Earnings Per Share	$1.54	$1.82	$2.345M	$1.881M	$1.768M	$1.531M	$1.715M	$1.509M	$1.469M	$13.83M	$21.52M	$15.59M	$9.724M

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
Cash & Short-Term Investments	$58.62M	$64.78M	$17.06M	$17.20M	$19.90M	$19.70M	$27.00M	$88.90M	$169.6M	$133.8M
YoY Change	-9.51%	279.8%	-0.83%	-13.57%	1.02%	-27.04%	-69.63%	-47.58%	26.76%
Cash & Equivalents	$58.62M	$64.78M	$17.06M	$17.20M	$19.90M	$19.70M	$27.00M	$88.90M	$169.6M	$133.8M
Short-Term Investments
Other Short-Term Assets	$442.0K	$305.0K	$396.0K	$400.0K	$500.0K	$400.0K	$300.0K	$300.0K	$300.0K	$200.0K	$5.000M	$19.80M
YoY Change	44.92%	-22.98%	-1.0%	-20.0%	25.0%	33.33%	0.0%	0.0%	50.0%	-96.0%	-74.75%
Inventory	$4.432M	$4.715M	$8.898M	$3.500M	$2.500M	$4.400M	$5.600M	$3.900M	$3.900M	$6.600M	$116.4M	$110.3M
Prepaid Expenses
Receivables	$162.7M	$174.5M	$254.9M	$242.3M	$214.9M	$222.6M	$198.5M	$138.3M	$51.60M	$56.00M	$71.50M	$69.60M
Other Receivables	$0.00	$1.497M	$0.00	$0.00	$600.0K	$0.00	$0.00	$800.0K	$0.00	$0.00	$0.00	$900.0K
Total Short-Term Assets	$226.2M	$245.8M	$281.2M	$263.3M	$238.4M	$247.1M	$231.4M	$232.2M	$225.3M	$196.6M	$192.9M	$200.6M
YoY Change	-7.97%	-12.59%	6.8%	10.44%	-3.52%	6.78%	-0.34%	3.06%	14.6%	1.92%	-3.84%
Property, Plant & Equipment	$943.8M	$990.2M	$1.044B	$1.051B	$1.103B	$1.148B	$1.196B	$1.222B	$1.021B	$842.1M	$763.0M	$591.1M
YoY Change	-4.68%	-5.11%	-0.68%	-4.74%	-3.94%	-4.0%	-2.13%	19.76%	21.19%	10.37%	29.08%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments											$10.40M	$10.80M
YoY Change											-3.7%
Other Assets	$146.8M	$130.2M	$150.1M	$36.70M	$46.20M	$60.90M	$81.80M	$95.00M	$38.80M	$51.90M	$69.30M	$26.30M
YoY Change	12.78%	-13.31%	309.09%	-20.56%	-24.14%	-25.55%	-13.89%	144.85%	-25.24%	-25.11%	163.5%
Total Long-Term Assets	$1.091B	$1.126B	$1.199B	$1.093B	$1.155B	$1.215B	$1.284B	$1.323B	$1.065B	$899.8M	$848.6M	$634.2M
YoY Change	-3.16%	-6.11%	9.72%	-5.36%	-4.93%	-5.37%	-2.96%	24.23%	18.36%	6.03%	33.81%
Total Assets	$1.317B	$1.372B	$1.481B	$1.357B	$1.394B	$1.462B	$1.515B	$1.555B	$1.290B	$1.096B	$1.042B	$834.8M
YoY Change
Accounts Payable	$56.34M	$49.40M	$45.90M	$21.00M	$21.30M	$32.50M	$24.50M	$22.10M	$34.30M	$20.10M	$122.6M	$108.3M
YoY Change	14.03%	7.63%	118.58%	-1.41%	-34.46%	32.65%	10.86%	-35.57%	70.65%	-83.61%	13.2%
Accrued Expenses	$24.98M	$17.54M	$60.90M	$18.80M	$17.50M	$16.30M	$15.70M	$15.70M	$23.40M	$11.90M	$26.50M	$38.30M
YoY Change	42.44%	-71.2%	223.91%	7.43%	7.36%	3.82%	0.0%	-32.91%	96.64%	-55.09%	-30.81%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$56.34M	$66.94M	$106.8M	$39.80M	$38.80M	$48.80M	$40.20M	$37.80M	$57.70M	$32.00M	$149.3M	$160.3M
YoY Change	-15.84%	-37.32%	168.33%	2.58%	-20.49%	21.39%	6.35%	-34.49%	80.31%	-78.57%	-6.86%
Long-Term Debt	$399.7M	$399.7M	$399.7M	$399.7M	$399.7M	$477.6M	$474.0M	$594.6M	$384.0M	$227.6M	$253.0M	$253.0M
YoY Change	0.0%	0.0%	-0.01%	0.0%	-16.31%	0.76%	-20.28%	54.84%	68.72%	-10.04%	0.0%
Other Long-Term Liabilities	$4.583M		$0.00	$400.0K	$1.100M	$0.00	$100.0K	$100.0K	$100.0K	$0.00	$1.000M	$1.100M
YoY Change			-100.0%	-63.64%		-100.0%	0.0%	0.0%		-100.0%	-9.09%
Total Long-Term Liabilities	$404.3M	$399.7M	$399.7M	$400.1M	$400.8M	$477.6M	$474.1M	$594.7M	$384.1M	$227.6M	$254.0M	$254.1M
YoY Change	1.15%	0.0%	-0.11%	-0.17%	-16.08%	0.74%	-20.28%	54.83%	68.76%	-10.39%	-0.04%
Total Liabilities	$1.037B	$1.080B	$1.187B	$1.079B	$1.116B	$1.246B	$1.296B	$1.453B	$1.194B	$1.009B	$586.0M	$561.0M
YoY Change	-3.99%	-8.99%	9.97%	-3.3%	-10.46%	-3.8%	-10.82%	21.69%	18.33%	72.17%	4.46%

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
Basic Shares Outstanding
Diluted Shares Outstanding
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Dividends

Stock Price

Market Cap: $787.4 Million

About Westlake Chemical Partners LP

Westlake Chemical Partners LP engages in the operation, acquisition and development of ethylene production facilities and related assets. The company is headquartered in Houston, Texas. The company went IPO on 2014-07-30. The Company’s business and operations are conducted through Westlake Chemical OpCo LP (OpCo). OpCos assets consist of three ethylene production facilities in Calvert City, Kentucky, and Lake Charles, Louisiana, and an ethylene pipeline. The ethylene production facilities primarily convert ethane into ethylene and have an aggregate annual capacity of approximately 3.7 billion pounds, and a 200-mile ethylene pipeline. The company owns two ethylene production facilities at Westlake's Lake Charles, Louisiana site (Petro 1 and Petro 2, collectively Lake Charles Olefins), with an annual combined capacity of approximately 3.0 billion pounds. The firm owns one ethylene production facility at Westlake's Calvert City, Kentucky site (Calvert City Olefins), with an annual capacity of approximately 730 million pounds.

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