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Energy - Oil & Gas Midstream - NYSE - US
$ 38.55
1.14 %
$ 14.7 B
Market Cap
11.54
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on Jun, 21, 2025.

The intrinsic value of one WES stock under the worst case scenario is HIDDEN Compared to the current market price of 38.5 USD, Western Midstream Partners, LP is HIDDEN

This DCF valuation model was last updated on Jun, 21, 2025.

The intrinsic value of one WES stock under the base case scenario is HIDDEN Compared to the current market price of 38.5 USD, Western Midstream Partners, LP is HIDDEN

This DCF valuation model was last updated on Jun, 21, 2025.

The intrinsic value of one WES stock under the best case scenario is HIDDEN Compared to the current market price of 38.5 USD, Western Midstream Partners, LP is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart WES

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$41.0$41.0$40.0$40.0$39.0$39.0$38.0$38.0$37.0$37.0$36.0$36.0$35.0$35.0$34.0$34.0Jan '25Jan '2515 Jan15 JanFeb '25Feb '2515 Feb15 FebMar '25Mar '2515 Mar15 MarApr '25Apr '2515 Apr15 AprMay '25May '2515 May15 MayJun '25Jun '2515 Jun15 Jun
FINANCIALS
3.61 B REVENUE
16.06%
1.97 B OPERATING INCOME
42.85%
1.61 B NET INCOME
61.53%
2.11 B OPERATING CASH FLOW
26.93%
-39.2 M INVESTING CASH FLOW
97.56%
-1.25 B FINANCING CASH FLOW
-1745.45%
917 M REVENUE
-1.23%
410 M OPERATING INCOME
-3.74%
317 M NET INCOME
-2.85%
511 M OPERATING CASH FLOW
-2.82%
-141 M INVESTING CASH FLOW
38.87%
-1.01 B FINANCING CASH FLOW
-205.42%
Balance Sheet Western Midstream Partners, LP
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Current Assets 1.85 B
Cash & Short-Term Investments 1.09 B
Receivables 721 M
Other Current Assets 35.3 M
Non-Current Assets 11.3 B
Long-Term Investments 572 M
PP&E 9.93 B
Other Non-Current Assets 791 M
8.30 %5.49 %4.35 %75.57 %6.02 %Total Assets$13.1b
Current Liabilities 1.69 B
Accounts Payable 313 M
Short-Term Debt 1.07 B
Other Current Liabilities 309 M
Non-Current Liabilities 8.08 B
Long-Term Debt 7.07 B
Other Non-Current Liabilities 1.01 B
3.20 %10.95 %3.16 %72.37 %10.31 %Total Liabilities$9.8b
EFFICIENCY
Earnings Waterfall Western Midstream Partners, LP
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Revenue 3.61 B
Cost Of Revenue 823 M
Gross Profit 2.78 B
Operating Expenses 812 M
Operating Income 1.97 B
Other Expenses 358 M
Net Income 1.61 B
4b4b4b4b3b3b3b3b2b2b2b2b1b1b500m500m004b(823m)3b(812m)2b(358m)2bRevenueRevenueCost Of RevenueCost Of RevenueGross ProfitGross ProfitOperating ExpensesOperating ExpensesOperating IncomeOperating IncomeOther ExpensesOther ExpensesNet IncomeNet Income
RATIOS
77.18% GROSS MARGIN
77.18%
54.66% OPERATING MARGIN
54.66%
43.65% NET MARGIN
43.65%
48.63% ROE
48.63%
11.97% ROA
11.97%
15.56% ROIC
15.56%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis Western Midstream Partners, LP
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2b2b1b1b1b1b1b1b800m800m600m600m400m400m200m200m00(200m)(200m)20162016201720172018201820192019202020202021202120222022202320232024202420252025
Net Income 1.61 B
Depreciation & Amortization 650 M
Capital Expenditures -834 M
Stock-Based Compensation 37.4 M
Change in Working Capital 0
Others -206 M
Free Cash Flow 1.27 B
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets Western Midstream Partners, LP
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Wall Street analysts predict an average 1-year price target for WES of $39.3 , with forecasts ranging from a low of $38 to a high of $41 .
WES Lowest Price Target Wall Street Target
38 USD -1.43%
WES Average Price Target Wall Street Target
39.3 USD 2.03%
WES Highest Price Target Wall Street Target
41 USD 6.36%
Price
Max Price Target
Min Price Target
Average Price Target
41414040393938383737363635353434Aug '24Aug '24Oct '24Oct '24Nov '24Nov '2420252025Feb '25Feb '25Apr '25Apr '25Jun '25Jun '25Jul '25Jul '25Aug '25Aug '25Oct '25Oct '25Nov '25Nov '2520262026Feb '26Feb '26Apr '26Apr '26Jun '26Jun '26
4. DIVIDEND ANALYSIS
2.23% DIVIDEND YIELD
0.91 USD DIVIDEND PER SHARE
Q1
Q2
Q3
Q4
3.500003.500003.000003.000002.500002.500002.000002.000001.500001.500001.000001.000000.500000.500000.000000.000000.31250.403750.46250.548750.60250.6220.3110.3270.50.5750.8750.34250.423750.491250.568750.610.3110.3150.50.8560.8750.910.363750.433750.52750.58250.6180.3110.3190.50.56250.8750.381251.400.44751.710.53752.020.5952.300.622.450.3111.560.3231.270.51.830.5752.490.8753.201.792015201520162016201720172018201820192019202020202021202120222022202320232024202420252025
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5. COMPETITION
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6. Ownership
Insider Ownership Western Midstream Partners, LP
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Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
697 M USD 1
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
7. News
Western Midstream (WES) Advances While Market Declines: Some Information for Investors Western Midstream (WES) closed the most recent trading day at $38.55, moving +1.15% from the previous trading session. zacks.com - 5 days ago
Western Midstream: Impressive Value Proposition Western Midstream Partners offers solid distribution growth and expansion-focused investments. The company's capital budget prioritizes pipeline expansion, especially in the Delaware Basin, supporting long-term cash flow and distribution increases. WES trades at a discounted EV/EBITDA multiple versus rivals, presenting 20% upside potential as valuation normalizes and acquisitions continue. seekingalpha.com - 1 week ago
Here Are My Top 5 High-Yield Midstream Stocks to Buy Now For investors in search of high yields and growing distributions, there is no better part of the market to look at than the midstream energy sector. While the players in the industry do face the risks associated with slumping energy volumes and aren't completely immune to energy price downturns, they are generally in great financial shape at the moment and seeing increased growth opportunities. fool.com - 1 week ago
When Market Pain Means Income Investor Gain The current environment is uniquely challenging, with uncertainty persisting and no clear catalyst for a recovery. Growth is richly priced, and, in my view, an unattractive space. This makes value and income investor areas relatively more interesting. seekingalpha.com - 1 week ago
Retirement Yield Trap Or Treasure? 1 Stock To Sell, 1 To Buy Retirement income investing and high-yields are not mutually exclusive. In fact, I could see a case for building a prudent portfolio that consists of 7%+ yielding securities. Yet, there is a merit of including lower yielding securities as well. seekingalpha.com - 2 weeks ago
Major Market Disconnect: 2 High-Flying Funds That Remain Dirt Cheap It is rare to buy an investment that is both deeply discounted and enjoying strong momentum. However, we share two such opportunities right now. We share why we think they are still undervalued and have significantly further to run. seekingalpha.com - 2 weeks ago
Western Midstream (WES) Up 2.9% Since Last Earnings Report: Can It Continue? Western Midstream (WES) reported earnings 30 days ago. What's next for the stock? zacks.com - 2 weeks ago
Western Midstream Partners: Inflation-Protected Contracts Drive Strong Buy Thesis We initiate on Western Midstream Partners at Strong Buy, with inflation-protected, contractually secured cash flows with rare downside protection+visible growth in the midstream sector. Our $51 PT (6.3x EV/Sales on our FY26E revenues estimate) values WES at a premium multiple based on its contract structure + growth profile. A downside risk includes any CPI inflation erosion that could decrease annual tariff escalators. We see a risk to WES' upside for any unfavorable developments in major customer contracts,. seekingalpha.com - 3 weeks ago
Two 9%+ Yielding MLPs To Buy Before They Get Arbitraged Away The midstream sector is under pressure. The YTD valuations have dropped across the board. Some, however, have been punished more than others. seekingalpha.com - 3 weeks ago
Here Are My Top 3 High-Yield Pipeline Stocks to Buy Now If you're looking for stocks with high dividend yields that are safe, the midstream energy sector is a great place to start your search. The energy industry has transformed itself since the last big energy bust. fool.com - 3 weeks ago
3 High-Yield Dividend Stocks to Buy Right Now to Boost Your Passive Income Buying dividend stocks is one of many ways to generate passive income. Many companies offer attractive yields that are much higher than the S&P 500's average, which is currently below 1.5%. fool.com - 1 month ago
Incredible Income, Outrageous Returns: Western Midstream Moving commodities is a valuable business to collect income from. The market has multiple strong options, but this one keeps smoking the market in total returns. Collect incredible income and outrageous, outsized returns. seekingalpha.com - 1 month ago
8. Profile Summary

Western Midstream Partners, LP WES

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COUNTRY US
INDUSTRY Oil & Gas Midstream
MARKET CAP $ 14.7 B
Dividend Yield 2.23%
Description Western Midstream Partners, LP, a midstream energy company, together with its subsidiaries, acquires, owns, develops, and operates primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water. It also buys and sells natural gas, NGLs, and condensate. The company operates assets located in Texas, New Mexico, the Rocky Mountains, and North-central Pennsylvania. Western Midstream Holdings, LLC operates as the general partner of the company. The company was formerly known as Western Gas Equity Partners, LP and changed its name to Western Midstream Partners, LP in February 2019. Western Midstream Partners, LP was incorporated in 2007 and is based in The Woodlands, Texas.
Contact 9950 Woodloch Forest Drive, The Woodlands, TX, 77380 https://www.westernmidstream.com
IPO Date Dec. 10, 2012
Employees 1511
Officers Ms. Kristen S. Shults CPA Senior Vice President & Chief Financial Officer - Western Midstream Holdings LLC Mr. Daniel Edwards Jenkins IV Director of Investor Relations - Western Midstream Holdings LLC Mr. Oscar K. Brown President, Chief Executive Officer & Director - Western Midstream Holdings LLC Ms. Catherine A. Green Senior Vice President & Chief Accounting Officer of Western Midstream Holdings, LLC Ms. Crystal J. Sled Chief Human Resources Officer & Senior Vice President Mr. Jonathon E. VandenBrand Senior Vice President of Commercial Mr. Christopher B. Dial J.D. Senior Vice President, General Counsel & Corporate Secretary of Western Midstream Holdings, LLC Mr. Daniel P. Holderman Senior Vice President & Chief Operating Officer of Western Midstream Holdings, LLC Mr. Keith Herndon Vice President & Chief Information Officer Mr. Jonathan A. Greenberg Vice President, Head of Corporate Development & New Business Ventures