NYSE : WLKP
Westlake Chemical Partners LP — Financial statements
Materials · Chemicals · United States
Last price 21.26 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 749.33M
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Financial statements
Westlake Chemical Partners LP (WLKP) reported revenue of 1.23B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.23B | 1.17B | 1.14B | 1.19B | 1.59B | 1.21B |
| Cost of Revenue | 849.92M | 818.85M | 716.96M | 803.33M | 1.22B | 773.15M |
| Gross Profit | 384.80M | 347.85M | 418.94M | 387.46M | 377.37M | 441.71M |
| Selling, General & Admin | 29.18M | 28.27M | 28.50M | 29.75M | 29.68M | 31.02M |
| Operating Expenses | 29.18M | 28.27M | 28.50M | 29.75M | 29.68M | 31.02M |
| Operating Income | 355.62M | 319.58M | 390.44M | 357.71M | 347.69M | 410.69M |
| Interest Expense | -21.66M | -22.90M | -25.70M | -26.50M | -13.41M | -8.82M |
| Other Non Operating Income (Expenses) | 1.12M | 2.44M | 5.25M | 4.23M | 1.57M | 62.00K |
| Pretax Income | 335.08M | 299.12M | 369.99M | 335.44M | 335.85M | 401.93M |
| Income Tax Expense | 590.00K | 547.00K | 835.00K | 813.00K | 1.02M | 549.00K |
| Earnings From Continuing Operations | 334.49M | 298.58M | 369.16M | 334.63M | 334.83M | 401.38M |
| Minority Interest in Earnings | -276.89M | -249.88M | -306.77M | -280.34M | -270.66M | -318.84M |
| Net Income | 57.60M | 48.70M | 62.39M | 54.28M | 64.17M | 82.55M |
| Net Income to Common | 57.60M | 48.70M | 62.39M | 54.28M | 64.17M | 82.55M |
| Shares Outstanding (Basic) | 35.25M | 35.24M | 35.23M | 35.22M | 35.22M | 35.21M |
| Shares Outstanding (Diluted) | 35.25M | 35.24M | 35.23M | 35.22M | 35.22M | 35.21M |
| EPS (Basic) | 1.63 | 1.38 | 1.77 | 1.54 | 1.82 | 2.34 |
| EPS (Diluted) | 1.63 | 1.38 | 1.77 | 1.54 | 1.82 | 2.34 |
| Free Cash Flow | 409.14M | 201.65M | 436.03M | 405.18M | 409.62M | 327.27M |
| Free Cash Flow Per Share | 11.61 | 5.72 | 12.38 | 11.50 | 11.63 | 9.30 |
| Dividend Per Share | 1.89 | 1.89 | 1.89 | 1.89 | 1.89 | 1.89 |
| Gross Margin | 31.16% | 29.82% | 36.88% | 32.54% | 23.69% | 36.36% |
| Operating Margin | 28.80% | 27.39% | 34.37% | 30.04% | 21.82% | 33.80% |
| Profit Margin | 4.67% | 4.17% | 5.49% | 4.56% | 4.03% | 6.79% |
| Free Cash Flow Margin | 33.14% | 17.28% | 38.39% | 34.03% | 25.71% | 26.94% |
| EBITDA | 493.37M | 447.56M | 502.34M | 467.91M | 468.76M | 519.50M |
| EBITDA Margin | 39.96% | 38.36% | 44.22% | 39.29% | 29.42% | 42.76% |
| D&A For EBITDA | 137.75M | 127.98M | 111.90M | 110.20M | 121.07M | 108.81M |
| EBIT | 355.62M | 319.58M | 390.44M | 357.71M | 347.69M | 410.69M |
| EBIT Margin | 28.80% | 27.39% | 34.37% | 30.04% | 21.82% | 33.80% |
| Effective Tax Rate | 0.18% | 0.18% | 0.23% | 0.24% | 0.30% | 0.14% |
| Revenue as Reported | 1.23B | 1.17B | 1.14B | 1.19B | 1.59B | 1.21B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 49.32M | 44.27M | 58.32M | 58.62M | 64.78M | 17.06M |
| Cash & Short-Term Investments | 49.32M | 44.27M | 58.32M | 58.62M | 64.78M | 17.06M |
| Accounts Receivable | 61.07M | 72.68M | 43.55M | 64.91M | 109.50M | 148.62M |
| Other Receivables | 43.58M | 23.38M | 134.56M | 97.80M | 66.49M | 106.24M |
| Receivables | 104.64M | 96.06M | 178.11M | 162.71M | 175.99M | 254.86M |
| Inventory | 3.56M | 2.77M | 4.06M | 4.43M | 4.71M | 8.90M |
| Prepaid Expenses | 10.00K | 406.00K | 444.00K | 442.00K | 305.00K | 396.00K |
| Total Current Assets | 157.54M | 143.51M | 240.93M | 226.20M | 245.79M | 281.21M |
| Property, Plant & Equipment | 858.64M | 886.01M | 903.59M | 943.84M | 990.21M | 1.04B |
| Goodwill | 5.81M | 5.81M | 5.81M | 5.81M | 5.81M | 5.81M |
| Long-Term Deferred Charges | 195.35M | 213.95M | 129.56M | 133.18M | 127.65M | 146.94M |
| Other Long-Term Assets | 7.25M | 8.06M | 7.81M | 2.51M | 3.19M | |
| Total Assets | 1.22B | 1.26B | 1.29B | 1.32B | 1.37B | 1.48B |
| Accounts Payable | 26.63M | 29.10M | 38.45M | 31.36M | 49.40M | 45.90M |
| Accrued Expenses | 19.14M | 22.20M | 16.92M | 24.98M | 14.88M | 60.90M |
| Current Income Taxes Payable | 2.65M | |||||
| Total Current Liabilities | 45.77M | 51.30M | 55.37M | 56.34M | 66.94M | 106.80M |
| Long-Term Debt | 399.67M | 399.67M | 399.67M | 399.67M | 399.67M | 399.67M |
| Long-Term Deferred Tax Liabilities | 1.49M | 1.55M | 1.55M | 1.63M | 1.66M | 1.53M |
| Other Long-Term Liabilities | 999.00K | 1.66M | 2.05M | 2.95M | ||
| Total Liabilities | 447.94M | 454.18M | 458.64M | 460.59M | 468.27M | 508.00M |
| Common Stock | 496.29M | 501.11M | 518.70M | 522.51M | 534.50M | 536.55M |
| Total Common Equity | 496.29M | 501.11M | 518.70M | 522.51M | 534.50M | 536.55M |
| Minority Interest | 273.13M | 301.24M | 310.61M | 333.74M | 369.21M | 436.15M |
| Shareholders' Equity | 769.41M | 802.35M | 829.31M | 856.25M | 903.71M | 972.70M |
| Total Liabilities & Equity | 1.22B | 1.26B | 1.29B | 1.32B | 1.37B | 1.48B |
| Total Debt | 399.67M | 399.67M | 399.67M | 399.67M | 399.67M | 399.67M |
| Net Cash (Debt) | -350.35M | -355.40M | -341.36M | -341.06M | -334.89M | -382.62M |
| Net Cash Per Share | -9.94 | -10.08 | -9.69 | -9.68 | -9.51 | -10.87 |
| Filing Date Shares Outstanding | 35.25M | 35.25M | 35.24M | 35.23M | 35.22M | 35.21M |
| Total Common Shares Outstanding | 35.25M | 35.25M | 35.24M | 35.23M | 35.22M | 35.21M |
| Working Capital | 111.77M | 92.20M | 185.55M | 169.87M | 178.85M | 174.41M |
| Book Value Per Share | 14.08 | 14.22 | 14.72 | 14.83 | 15.18 | 15.24 |
| Tangible Book Value | 490.47M | 495.29M | 512.89M | 516.69M | 528.69M | 530.74M |
| Tangible Book Value Per Share | 13.92 | 14.05 | 14.55 | 14.67 | 15.01 | 15.07 |
| Buildings | 18.77M | 18.56M | 18.62M | 18.55M | 18.36M | |
| Machinery | 2.02B | 1.95B | 1.94B | 1.94B | 1.91B | |
| Construction In Progress | 16.23M | 53.61M | 37.75M | 26.04M | 30.75M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 57.60M | 48.70M | 62.39M | 54.28M | 64.17M | 82.55M |
| Depreciation & Amortization | 137.75M | 127.98M | 111.90M | 110.20M | 121.07M | 108.81M |
| Loss (Gain) From Sale of Assets | 4.58M | 2.74M | 2.16M | 4.91M | 5.06M | 3.92M |
| Other Operating Activities | 276.89M | 249.88M | 306.77M | 280.34M | 270.66M | 318.84M |
| Change in Accounts Receivable | 18.86M | -29.55M | 32.96M | 28.66M | 59.76M | -26.29M |
| Change in Inventory | -302.00K | 1.29M | 374.00K | 283.00K | 4.18M | -5.42M |
| Change in Accounts Payable | -14.95M | -2.35M | -2.69M | 1.57M | -17.00M | 19.78M |
| Change in Other Net Operating Assets | -14.77M | -118.21M | -28.86M | -28.25M | -44.17M | -93.75M |
| Operating Cash Flow | 465.66M | 280.47M | 485.00M | 452.00M | 463.74M | 408.44M |
| Capital Expenditures | -56.52M | -78.82M | -48.97M | -46.82M | -54.12M | -81.17M |
| Other Investing Activities | 110.00M | -40.00M | -29.12M | 42.12M | 16.87M | |
| Investing Cash Flow | -56.52M | 31.18M | -88.97M | -75.94M | -12.00M | -64.30M |
| Short-Term Debt Issued | 173.50M | 219.00M | 209.25M | 32.00M | ||
| Total Debt Issued | 160.50M | 173.50M | 219.00M | 209.25M | 32.00M | |
| Short-Term Debt Repaid | -173.50M | -219.00M | -209.25M | -32.00M | ||
| Total Debt Repaid | -160.50M | -173.50M | -219.00M | -209.25M | -32.00M | |
| Common Dividends Paid | -66.46M | -66.45M | -66.44M | -66.42M | -66.41M | -66.38M |
| Other Financing Activities | -329.94M | -259.25M | -329.90M | -315.81M | -337.60M | -277.86M |
| Financing Cash Flow | -396.40M | -325.70M | -396.33M | -382.23M | -404.01M | -344.24M |
| Net Cash Flow | 12.74M | -14.05M | -303.00K | -6.16M | 47.73M | -97.00K |
| Free Cash Flow | 409.14M | 201.65M | 436.03M | 405.18M | 409.62M | 327.27M |
| Free Cash Flow Margin | 33.14% | 17.28% | 38.39% | 34.03% | 25.71% | 26.94% |
| Free Cash Flow Per Share | 11.61 | 5.72 | 12.38 | 11.50 | 11.63 | 9.30 |
| Levered Free Cash Flow | 274.85M | 314.19M | 275.28M | 273.56M | 319.45M | 328.29M |
| Unlevered Free Cash Flow | 288.39M | 328.50M | 291.34M | 290.12M | 327.83M | 333.80M |
| Cash Interest Paid | 23.24M | 23.24M | 26.53M | 24.54M | 10.85M | 8.98M |
| Cash Income Tax Paid | 873.00K | 873.00K | 831.00K | 827.00K | 683.00K | 676.00K |
| Change in Working Capital | -11.15M | -148.83M | 1.78M | 2.26M | 2.77M | -105.68M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 756.73M | 669.67M | 815.42M | 762.69M | 827.71M | 945.86M |
| Enterprise Value | 1.11B | 1.34B | 1.47B | 1.43B | 1.63B | 1.71B |
| Last Close Price | 21.26 | 17.82 | 19.92 | 17.14 | 17.12 | 18.17 |
| PE Ratio | 13.14 | 13.75 | 13.07 | 14.05 | 12.90 | 11.46 |
| Forward PE | 12.98 | 12.05 | 13.96 | 10.36 | 13.34 | 12.47 |
| PS Ratio | 0.61 | 0.57 | 0.72 | 0.64 | 0.52 | 0.78 |
| PB Ratio | 1.51 | 0.83 | 0.98 | 0.89 | 0.92 | 0.97 |
| P/TBV Ratio | 1.54 | 1.35 | 1.59 | 1.48 | 1.57 | 1.78 |
| P/FCF Ratio | 1.85 | 3.32 | 1.87 | 1.88 | 2.02 | 2.89 |
| P/OCF Ratio | 1.63 | 2.39 | 1.68 | 1.69 | 1.78 | 2.32 |
| PEG Ratio | 0.73 | 2.40 | 0.13 | 15.96 | 3.41 | 1.27 |
| EV/Sales Ratio | 0.90 | 1.15 | 1.30 | 1.20 | 1.02 | 1.41 |
| EV/EBITDA Ratio | 2.24 | 3.00 | 2.93 | 3.06 | 3.47 | 3.29 |
| EV/EBIT Ratio | 3.11 | 4.20 | 3.77 | 4.01 | 4.68 | 4.16 |
| EV/FCF Ratio | 2.71 | 6.65 | 3.38 | 3.54 | 3.97 | 5.22 |
| Debt / Equity Ratio | 0.52 | 0.50 | 0.48 | 0.47 | 0.44 | 0.41 |
| Debt / EBITDA Ratio | 0.81 | 0.89 | 0.80 | 0.85 | 0.85 | 0.77 |
| Debt / FCF Ratio | 0.98 | 1.98 | 0.92 | 0.99 | 0.98 | 1.22 |
| Net Debt / Equity Ratio | 0.46 | 0.44 | 0.41 | 0.40 | 0.37 | 0.39 |
| Net Debt / EBITDA Ratio | 0.71 | 0.79 | 0.68 | 0.73 | 0.71 | 0.74 |
| Net Debt / FCF Ratio | 0.86 | 1.76 | 0.78 | 0.84 | 0.82 | 1.17 |
| Asset Turnover | 0.98 | 0.92 | 0.87 | 0.89 | 1.12 | 0.86 |
| Inventory Turnover | 249.10 | 239.88 | 168.89 | 175.65 | 178.62 | 124.98 |
| Quick Ratio | 3.36 | 2.73 | 4.27 | 3.93 | 3.60 | 2.55 |
| Current Ratio | 3.44 | 2.80 | 4.35 | 4.01 | 3.67 | 2.63 |
| Return on Equity (ROE) | 41.80% | 36.60% | 43.80% | 38.03% | 35.69% | 42.52% |
| Return on Assets (ROA) | 17.61% | 15.70% | 18.74% | 16.63% | 15.24% | 18.09% |
| Return on Invested Capital (ROIC) | 31.31% | 27.40% | 32.90% | 29.30% | 26.73% | 30.91% |
| Return on Capital Employed (ROCE) | 30.40% | 26.50% | 31.70% | 28.40% | 26.60% | 29.90% |
| Earnings Yield | 7.61% | 7.27% | 7.65% | 7.12% | 7.75% | 8.73% |
| FCF Yield | 54.04% | 30.11% | 53.47% | 53.12% | 49.49% | 34.60% |
| Dividend Yield | 8.66% | 9.92% | 8.15% | 8.71% | 8.02% | 7.02% |
| Payout Ratio | 115.38% | 136.46% | 106.48% | 122.36% | 103.49% | 80.41% |
| Buyback Yield / Dilution | -0.02% | -0.03% | -0.02% | -0.02% | -0.03% | -0.03% |
| Total Shareholder Return | 8.85% | 9.90% | 8.12% | 8.69% | 7.99% | 6.99% |