Westlake Chemical Partners LP (WLKP) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.41	$0.4	-2.4%	—	$297.1M	—
Q1 26	$0.4	$0.4	0.0%	—	$305.7M	—
Q4 25	$0.38	$0.41	+7.9%	—	$323M	—
Q3 25	$0.45	$0.42	-6.7%	—	$308.9M	—
Q2 25	$0.47	$0.41	-12.8%	—	$297.1M	—
Q1 25	$0.42	$0.14	-66.7%	—	$237.6M	—
Q4 24	$0.37	$0.43	+16.2%	—	$290.1M	—
Q3 24	$0.42	$0.51	+21.4%	—	$277M	—
Q2 24	$0.45	$0.41	-8.9%	—	$284.2M	—
Q1 24	$0.45	$0.42	-6.7%	—	$284.7M	—
Q4 23	$0.47	$0.41	-12.8%	—	$297.3M	—
Q3 23	$0.44	$0.37	-15.9%	—	$321.7M	—
Q2 23	$0.39	$0.34	-12.8%	—	$264.2M	—
Q1 23	$0.46	$0.42	-8.7%	—	$307.7M	—
Q4 22	$0.47	$0.48	+2.1%	—	$366.8M	—
Q3 22	$0.47	$0.42	-10.6%	—	$415.1M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.38	—	—	$1.2B	—
FY24	—	$1.77	—	—	$1.1B	—
FY23	—	$1.54	—	—	$1.2B	—
FY22	—	$1.82	—	—	$1.6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$986.7M	$1.2B	$1.3B	$1.1B	$966.7M	$1.2B	$1.6B	$1.2B	$1.1B	$1.2B
YoY change	-2.03%	+18.9%	+9.6%	-15.1%	-11.5%	+25.7%	+31.1%	-25.3%	-4.61%	+2.71%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	986.7M	1.2B	1.3B	1.1B	966.7M	1.2B	1.6B	1.2B	1.1B	1.2B
Cost of revenue	595.4M	769.3M	908.5M	712.4M	587.8M	773.2M	1.2B	803.3M	717M	818.8M
Gross profit	391.3M	403.7M	377.2M	379.4M	378.9M	441.7M	377.4M	387.5M	418.9M	347.8M
Gross margin	39.7%	34.4%	29.3%	34.8%	39.2%	36.4%	23.7%	32.5%	36.9%	29.8%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	24.9M	29.3M	27.6M	29.3M	25.9M	31M	29.7M	29.8M	28.5M	28.3M
Operating expenses	24.9M	29.3M	27.6M	29.3M	25.9M	31M	29.7M	29.8M	28.5M	28.3M
Operating income	366.4M	374.4M	349.6M	350.1M	353M	410.7M	347.7M	357.7M	390.4M	319.6M
Operating margin	37.1%	31.9%	27.2%	32.1%	36.5%	33.8%	21.8%	30%	34.4%	27.4%
Non-operating income, net	601K	1.8M	2.5M	3.1M	733K	62K	1.6M	4.2M	5.3M	2.4M
Pretax income	354.4M	354.3M	330.6M	333.6M	341.7M	401.9M	335.8M	335.4M	370M	299.1M
Income tax	1M	1.3M	22K	728K	564K	549K	1M	813K	835K	547K
Net income	353.4M	353.1M	330.6M	332.9M	341.1M	401.4M	334.8M	334.6M	369.2M	298.6M
Net margin	35.8%	30.1%	25.7%	30.5%	35.3%	33%	21%	28.1%	32.5%	25.6%
EBITDA	465.3M	490.2M	460.9M	460.6M	456.9M	519.6M	470.3M	472.1M	507.6M	409M
EPS	1.5	1.72	1.51	1.77	1.88	2.34	1.82	1.54	1.77	1.38
Diluted EPS	1.5	1.72	1.51	1.77	1.88	2.34	1.82	1.54	1.77	1.38

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	321.7M	297.3M	284.7M	284.2M	277M	290.1M	237.6M	297.1M	308.9M	323M	305.7M	297.1M
Cost of revenue	228.7M	196.6M	182.5M	182.9M	160.1M	191.5M	183.5M	199.6M	209.5M	226.2M	211.9M	202.3M
Gross profit	93M	100.7M	102.2M	101.2M	116.9M	98.6M	54.1M	97.5M	99.4M	96.8M	93.8M	94.8M
Gross margin	28.9%	33.9%	35.9%	35.6%	42.2%	34%	22.8%	32.8%	32.2%	30%	30.7%	31.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	6.7M	7.9M	7.1M	7.6M	7.3M	6.6M	7.5M	6.3M	7.4M	7.1M	7.2M	7.5M
Operating expenses	6.7M	7.9M	7.1M	7.6M	7.3M	6.6M	7.5M	6.3M	7.4M	7.1M	7.2M	7.5M
Operating income	86.2M	92.8M	95.1M	93.6M	109.7M	92M	46.6M	91.2M	92M	89.8M	86.6M	87.3M
Operating margin	26.8%	31.2%	33.4%	32.9%	39.6%	31.7%	19.6%	30.7%	29.8%	27.8%	28.3%	29.4%
Non-operating income, net	1.3M	1.1M	1.3M	1.3M	1.3M	1.3M	1.3M	675K	224K	200K	348K	348K
Pretax income	81.1M	87.3M	89.9M	88.2M	104.3M	87.6M	42.4M	86M	86.3M	84.5M	81.8M	82.5M
Income tax	222K	206K	210K	207K	216K	202K	107K	205K	42K	193K	177K	178K
Net income	80.9M	87.1M	89.6M	88M	104.1M	87.4M	42.3M	85.8M	86.2M	84.3M	81.7M	82.4M
Net margin	25.1%	29.3%	31.5%	31%	37.6%	30.1%	17.8%	28.9%	27.9%	26.1%	26.7%	27.7%
EBITDA	97M	122.2M	124.4M	123.2M	132.6M	140.3M	75M	107.3M	114.2M	112.6M	109.3M	110.6M
EPS	0.37	0.41	0.42	0.41	0.51	0.43	0.14	0.41	0.42	0.41	0.4	0.4
Diluted EPS	0.37	0.41	0.42	0.41	0.51	0.43	0.14	0.41	0.42	0.41	0.4	0.4

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	590.9M	706M	—	910.2M	839.1M	947.5M	828.6M	763.1M	815.7M	670.5M	759.5M
Enterprise value	1.1B	1.2B	—	1.3B	1.2B	1.3B	1.2B	1.1B	1.2B	1B	1.4B
Shares outstanding	27.3M	28.3M	32.7M	34.5M	35.2M	35.3M	35.3M	35.2M	35.2M	35.3M	35.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	1.67	2	—	2.73	2.46	2.36	2.47	2.28	2.21	2.25	13.2
P/S	0.6	0.6	—	0.83	0.87	0.78	0.52	0.64	0.72	0.57	0.62
P/B	0.64	0.71	—	0.96	0.92	0.97	0.92	0.89	0.98	0.84	1.53
EV/EBITDA	2.36	2.35	—	2.8	2.67	2.56	2.47	2.34	2.28	2.51	2.81
EV/Sales	1.11	0.98	—	1.18	1.26	1.09	0.73	0.93	1.02	0.88	1.12
Earnings yield	59.8%	50%	—	36.6%	40.7%	42.4%	40.4%	43.8%	45.3%	44.5%	7.59%
FCF yield	-2.02%	66.4%	—	44.7%	40.1%	34.5%	49.4%	53.1%	53.5%	30.1%	36.2%
PEG	—	—	—	—	—	—	—	—	—	—	-5.4

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	39.7%	34.4%	29.3%	34.8%	39.2%	36.4%	23.7%	32.5%	36.9%	29.8%	31.9%
Operating margin	37.1%	31.9%	27.2%	32.1%	36.5%	33.8%	21.8%	30%	34.4%	27.4%	29.4%
Net margin	35.8%	30.1%	25.7%	30.5%	35.3%	33%	21%	28.1%	32.5%	25.6%	4.67%
ROE	38.4%	35.4%	35.4%	35%	37.3%	41.3%	37.1%	39.1%	44.5%	37.2%	41.8%
ROA	22.7%	23.3%	22.6%	23.9%	25.1%	27.1%	24.4%	25.4%	28.7%	23.8%	17.6%
ROIC	25.6%	25.8%	25.1%	26.2%	27.2%	30.3%	28%	29.8%	33.3%	27.6%	31.7%
Return on tangible assets	22.9%	23.5%	22.8%	24.1%	25.4%	27.3%	24.6%	25.6%	28.9%	24%	27.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	6.15	5.75	5.07	6.14	6.62	2.63	3.67	4.02	4.35	2.8	3.44
Quick ratio	6.04	5.61	4.98	6.07	6.54	2.55	3.6	3.94	4.28	2.74	3.36
Debt / equity	0.65	0.47	0.51	0.42	0.44	0.41	0.44	0.47	0.48	0.5	0.52
Debt / assets	0.38	0.31	0.33	0.29	0.29	0.27	0.29	0.3	0.31	0.32	0.33
Net debt / EBITDA	1.09	0.91	0.99	0.82	0.84	0.74	0.71	0.72	0.67	0.87	0.78
Interest coverage	29.1	17.2	16.4	18	29.4	46.6	26.1	13.7	15.4	14.1	16.5
Effective tax rate	0.29%	0.36%	0.01%	0.22%	0.17%	0.14%	0.3%	0.24%	0.23%	0.18%	0.18%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	36.2	41.5	39.3	31.7	27.5	34.4	45.2	33.8	32.2	33.1	35
EPS (basic)	1.5	1.72	1.51	1.77	1.88	2.34	1.82	1.54	1.77	1.38	1.38
EPS (diluted)	1.5	1.72	1.51	1.77	1.88	2.34	1.82	1.54	1.77	1.38	1.64
Book value per share	33.7	35.3	28.6	27.6	26	27.6	25.6	24.3	23.5	22.7	14.1
FCF per share	-0.44	16.6	12.1	11.8	9.56	9.28	11.6	11.5	12.4	5.71	11.5
Cash per share	3.26	0.95	0.6	0.58	0.49	0.48	1.84	1.66	1.65	1.25	1.4
Capex per share	11	2.43	1.22	1.27	1.05	2.3	1.53	1.33	1.39	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	30.4%	5.87%	3.1%	4%	3.82%	6.68%	3.4%	3.93%	4.31%	—	—
Capex / operating cash flow	106.5%	12.9%	9.14%	9.73%	9.97%	22.1%	10.9%	10.6%	10%	—	—
Payout ratio	9.89%	11.9%	16.1%	18.6%	19.5%	16.5%	19.8%	19.8%	18%	22.3%	115%
Dividend yield	5.91%	5.97%	—	6.82%	7.91%	7.01%	8.01%	8.7%	8.14%	9.91%	8.73%

Yield

8.73%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.471

ex-dividend Aug 13, 2026

Payout ratio

115%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 13, 2026	$0.471
May 14, 2026	$0.471
Feb 6, 2026	$0.471
Nov 10, 2025	$0.471
Aug 12, 2025	$0.471
May 13, 2025	$0.471

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$321.7M	$297.3M	$284.7M	$284.2M	$277M	$290.1M	$237.6M	$297.1M	$308.9M	$323M	$305.7M	$297.1M
YoY change	-22.5%	-19%	-7.48%	+7.57%	-13.9%	-2.43%	-16.5%	+4.56%	+11.5%	+11.4%	+28.6%	-0.01%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	88.9M	27M	19.7M	19.9M	17.2M	17.1M	64.8M	58.6M	58.3M	44.3M
Receivables	11.3M	18.1M	16.4M	9.3M	11M	5.8M	18.5M	15.3M	11.6M	9.1M
Inventory	3.9M	5.6M	4.4M	2.5M	3.5M	8.9M	4.7M	4.4M	4.1M	2.8M
Total current assets	232.2M	231.4M	247.1M	238.4M	263.3M	281.2M	245.8M	226.2M	240.9M	143.5M
Property, plant & equipment	1.2B	1.2B	1.1B	1.1B	1B	1B	971.7M	925.2M	885M	867.2M
Goodwill & intangibles	11.6M	11.6M	11.6M	11.6M	11.6M	11.6M	11.6M	11.6M	11.6M	11.6M
Total assets	1.6B	1.5B	1.5B	1.4B	1.4B	1.5B	1.4B	1.3B	1.3B	1.3B
Accounts payable	22.1M	24.5M	32.5M	21.3M	21M	45.9M	49.4M	31.4M	38.5M	29.1M
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	37.8M	40.2M	48.8M	38.8M	39.8M	106.8M	66.9M	56.3M	55.4M	51.3M
Long-term debt	594.6M	474M	477.6M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M
Total liabilities	634.3M	516.5M	528M	441.3M	441.4M	508M	468.3M	460.6M	458.6M	454.2M
Shareholders' equity	921M	998.7M	934.1M	952.1M	915.1M	972.7M	903.7M	856.3M	829.3M	802.4M
Total debt	594.6M	474M	477.6M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M
Net debt	505.7M	447M	457.9M	379.8M	382.5M	382.6M	334.9M	341.1M	341.4M	355.4M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	65.9M	58.6M	55.8M	66M	60.2M	58.3M	49.6M	36.6M	37.9M	44.3M	44.3M	49.3M
Receivables	72.9M	15.3M	23.9M	24M	16M	11.6M	13M	12.8M	16.1M	9.1M	19.8M	21.6M
Inventory	4.4M	4.4M	4.9M	4.5M	3.8M	4.1M	2.7M	3.3M	3.1M	2.8M	3.1M	3.6M
Total current assets	231.5M	226.2M	224.3M	232.1M	241.6M	240.9M	225.2M	156.5M	130.9M	143.5M	148.9M	157.5M
Property, plant & equipment	—	925.2M	—	—	—	885M	—	—	—	867.2M	—	—
Goodwill & intangibles	11.6M	11.6M	11.6M	11.6M	11.6M	11.6M	11.6M	11.6M	11.6M	11.6M	11.6M	11.6M
Total assets	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.4B	1.3B	1.3B	1.3B	1.2B	1.2B
Accounts payable	44.2M	31.4M	23.3M	27.8M	31.9M	38.5M	101.5M	36.6M	23.1M	29.1M	18.9M	26.6M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	75.6M	56.3M	43.1M	49.6M	53.3M	55.4M	164.8M	72.9M	55.1M	51.3M	40.8M	45.8M
Long-term debt	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M
Total liabilities	480.2M	460.6M	446.8M	453.5M	456.9M	458.6M	568.2M	476M	458.3M	454.2M	443.3M	447.9M
Shareholders' equity	861.3M	856.3M	848.2M	834.8M	837.8M	829.3M	803.1M	831.2M	813.3M	802.4M	792.4M	769.4M
Total debt	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M	399.7M
Net debt	333.8M	341.1M	343.9M	333.7M	339.5M	341.4M	350.1M	363.1M	361.7M	355.4M	355.4M	350.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	353.4M	353.1M	330.6M	332.9M	341.1M	401.4M	334.8M	334.6M	369.2M	298.6M
Depreciation & amortization	98.2M	114M	108.8M	107.3M	103.2M	108.8M	121.1M	110.2M	111.9M	87M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	-171.4M	68.4M	-2.7M	9.7M	-73.4M	-143.3M	40.2M	-1.6M	7.6M	-155.8M
Operating cash flow	281.3M	534.4M	436.3M	449.4M	370.6M	366.7M	496.5M	443.2M	488.5M	280.5M
Capital expenditure	-299.6M	-68.9M	-39.9M	-43.7M	-37M	-81.2M	-54.1M	-46.8M	-49M	—
Investing cash flow	-299.5M	-203.2M	-51.8M	-57.7M	2M	-64.3M	-12M	-75.9M	-89M	110M
Dividends paid	-34.9M	-42.1M	-53.4M	-62.1M	-66.4M	-66.4M	-66.4M	-66.4M	-66.4M	-66.5M
Share repurchases	0	—	—	—	—	—	—	—	—	—
Financing cash flow	-68.9M	-396M	-391.6M	-392.9M	-378.2M	-344.2M	-404M	-382.2M	-396.3M	-325.7M
Net change in cash	-87.1M	-64.9M	-7.1M	-1.2M	-5.5M	-41.9M	80.5M	-15M	3.2M	64.8M
Free cash flow	-11.9M	468.5M	396.3M	407.1M	336.4M	327.3M	409.6M	405.2M	436M	201.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	80.9M	87.1M	89.6M	88M	104.1M	87.4M	42.3M	85.8M	86.2M	84.3M	81.7M	82.4M
Depreciation & amortization	9.5M	28.3M	28M	28.3M	21.6M	46.9M	27.1M	15.4M	22M	22.6M	22.3M	22.9M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-12M	-2.9M	-10.6M	2.5M	-5.7M	21.3M	-70M	-81.4M	-15.2M	10.8M	-3.9M	10.6M
Operating cash flow	96.7M	112.5M	107.3M	118.6M	126.5M	136M	-457K	9.1M	105.2M	120.4M	110.2M	129.8M
Capital expenditure	-16.8M	-12.8M	-9.8M	-10.2M	-15.5M	-13.5M	-16M	—	—	—	—	—
Investing cash flow	-6.8M	-22.8M	-9.8M	-10.2M	-30.5M	-38.5M	14M	60M	30M	-10M	-13M	-7M
Dividends paid	-16.6M	-16.6M	-16.6M	-16.6M	-16.6M	-16.6M	-16.6M	-16.6M	-16.6M	-16.6M	-16.6M	-16.6M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-87.7M	-92.1M	-97.7M	-101.5M	-101.3M	-95.9M	-68.5M	-57.7M	-104.2M	-95.2M	-91.6M	-105.3M
Net change in cash	2.2M	-2.4M	-84K	7M	-5.4M	1.7M	-54.9M	11.3M	31M	15.2M	5.6M	17.5M
Free cash flow	84.1M	94.8M	94.8M	111.7M	110.5M	119M	29.8M	-15.3M	75.6M	111.5M	104.6M	117.4M

Westlake Chemical Partners LP Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement