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$124M+26.5%

Other financials

Income statement

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Revenue$1.1B+22.5%
Gross profit$1.0B+16.6%
Operating income$469.2M+14.5%
Net income$350.3M+13.4%
EPS (diluted)$0.85+7.6%

Balance sheet

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Cash & equivalents$647.5M+44.4%
Total debt$8.7B+18.7%
Total assets$14.9B+19.8%

Cash flow

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Operating cash flow$469.9M-11.5%
CapEx$235.7M+65.5%

Valuation

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Market cap$19.8B+27.8%
Enterprise value$27.86B+24.6%
P/E16.2×+4.0×
P/S4.9×+0.7×

Profitability

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Gross margin93.4%-2.0pp
Operating margin41%-5.8pp
Net margin30.2%-5.9pp
FCF margin33.1%-7.8pp

Returns & leverage

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Current ratio1.1×-0.1×

Where this comes from

Calculated from Western Midstream Partners’s reported figures.

The official record: Western Midstream Partners’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Western Midstream Partners's free cash flow?
Western Midstream Partners (WES) reported free cash flow of $234.18M in Q1 2026.
How has Western Midstream Partners's free cash flow changed year-over-year?
Western Midstream Partners's free cash flow decreased by 39.7% year-over-year, from $388.39M to $234.18M.
What is the long-term trend for Western Midstream Partners's free cash flow?
Over 4 years (2021 to 2025), Western Midstream Partners's free cash flow has grown at a 0.7% compound annual growth rate (CAGR), from $1.45B to $1.49B.
What does free cash flow mean?
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.