Western Midstream Partners, LP (WES) intrinsic value & 10-year financials
Western Midstream Partners, LP (WES) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 8.8% a year to $3.8B.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $44.62
- Revenue (FY2025)
- $3.8B
- Revenue growth (10-yr CAGR)
- 8.8%
- Free cash flow (FY2025)
- —
WES 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $3.8B | $1.2B | — | — | 41.7% | — |
| FY2024 | $3.6B | $1.6B | — | — | 54.7% | — |
| FY2023 | $3.1B | $1.0B | — | — | 44.4% | — |
| FY2022 | $3.3B | $1.2B | — | — | 48.8% | — |
| FY2021 | $2.7B | $916.3M | — | — | 49.5% | — |
| FY2020 | $2.5B | $527.0M | — | — | 34.5% | — |
| FY2019 | $2.7B | $697.2M | — | — | 44.9% | — |
| FY2018 | $2.0B | $369.4M | — | — | 31.3% | — |
| FY2017 | $2.2B | $376.6M | — | — | 31.3% | — |
| FY2016 | $1.8B | $345.8M | — | — | 39.0% | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Western Midstream Partners, LP is a consistent compounder, expanding top-line revenue at 8.8% annually over the past decade.
Western Midstream Partners, LP 10-year average ROIC is N/A; capital efficiency cannot be assessed from the available history.
Over the decade, Western Midstream Partners, LP shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Western Midstream Partners, LP is modeled at 8.8% normalized earnings growth with a 5.1% bond-yield adjustment.