Western Midstream Partners, LP (WES) Financial Ratios: P/E, ROE & More

Western Midstream Partners, LP (WES) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), Western Midstream Partners, LP had a P/E ratio of 13.96 (up from 9.52), return on equity of 32.2% (down from 50.3%), debt-to-equity of 2.12 (down from 2.41) and a current ratio of 1.34 (up from 1.09). A current ratio of 1.34 means current assets exceed current liabilities. Its dividend yield was 9.22% with a payout ratio of 121.1%.

Western Midstream Partners, LP Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Valuation Ratios
P/E Ratio	13.96	9.52	11.12	8.69	10.14	11.15
Forward P/E	10.65	11.34	9.12	8.19	8.16	6.40
P/S Ratio	4.19	4.06	3.58	3.18	3.16	2.08
P/B Ratio	3.87	4.33	3.67	3.33	2.94	1.99
Price/Tangible Book	5.86	5.69	5.03	4.59	4.10	2.88
Price/FCF	10.78	11.22	11.99	8.52	6.26	4.74
Price/OCF	7.25	6.84	6.68	6.08	5.15	3.51
PEG Ratio	1.05	1.41	9.12	1.17	3.18	1.13
Enterprise Value Ratios
EV/Revenue	6.01	5.99	5.80	5.33	5.65	4.91
EV/EBITDA	10.16	9.65	9.53	9.11	9.48	7.65
EV/EBIT	14.98	13.77	13.97	13.13	13.98	10.56
EV/FCF	15.45	16.57	19.45	14.29	11.18	11.21
Profitability & Returns
Return on Equity (ROE)	32.17%	50.32%	34.15%	40.34%	31.51%	16.56%
Return on Assets (ROA)	6.85%	7.65%	6.79%	7.33%	6.29%	6.66%
Return on Invested Capital (ROIC)	13.48%	14.67%	12.61%	13.51%	11.51%	11.82%
Return on Capital Employed (ROCE)	11.20%	13.70%	11.50%	12.70%	11.50%	11.90%
Leverage & Solvency Ratios
Debt/Equity	2.12	2.41	2.63	2.20	2.25	2.73
Debt/EBITDA	3.75	3.51	4.07	3.48	3.94	4.31
Debt/FCF	5.90	6.25	8.60	5.62	4.78	6.50
Liquidity Ratios
Current Ratio	1.34	1.09	0.76	1.00	0.60	0.98
Quick Ratio	1.30	1.07	0.73	0.97	0.59	0.95
Efficiency Ratios
Asset Turnover	0.27	0.28	0.26	0.29	0.25	0.23
Inventory Turnover	140.69	370.45	291.82	300.12	425.02	60.95
Yield & Distribution Ratios
Earnings Yield	7.16%	10.51%	8.99%	11.51%	9.86%	8.97%
FCF Yield	9.27%	8.91%	8.34%	11.74%	15.98%	21.10%
Dividend Yield	9.22%	9.11%	7.56%	7.43%	5.69%	13.88%
Payout Ratio	121.12%	79.19%	95.72%	60.46%	58.26%	134.88%
Buyback Yield	-1.42%	0.51%	2.99%	3.83%	5.42%	-4.77%
Total Return	7.80%	9.62%	10.55%	11.26%	11.11%	9.11%

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Western Midstream Partners, LP Financial Ratios

What is Western Midstream Partners, LP's P/E ratio?

Western Midstream Partners, LP's P/E ratio was 13.96 for fiscal 2025 (period ended Dec 31, 2025). It was 9.52 a year earlier.

What is Western Midstream Partners, LP's return on equity?

Western Midstream Partners, LP's return on equity (ROE) was 32.2% for fiscal 2025 (period ended Dec 31, 2025). It was 50.3% a year earlier.

What is Western Midstream Partners, LP's debt-to-equity ratio?

Western Midstream Partners, LP's debt-to-equity ratio was 2.12 for fiscal 2025 (period ended Dec 31, 2025). It was 2.41 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition