# Western Midstream Partners LP Common Units Representing Limited Partner Interests (WES) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Energy / Oil, Gas & Consumable Fuels. Price $49.54, market value $20.5 billion.

## Valuation
- **P/E (trailing): 15.7×**. Western Midstream Partners LP Common Units Representing Limited Partner Interests trades at 15.7× trailing earnings. The Energy median in the September 2026 study was 16.8×. Forward P/E is 12.8×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 4.7×**. Each dollar of revenue is priced at 4.7×.
- **Price / book: 5.8×**. The shares trade at 5.8× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 11.2×**. Enterprise value is 11.2× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Earnings yield: 6.4%**. The inverse of the P/E: 6.4% of the price is earned each year.

## Profitability
- **Operating margin: 39.9%**. 39.9% of revenue is left after running the business, an exceptional level.
- **Net margin: 30.7%**. 30.7% of each dollar of sales reaches the bottom line.
- **Return on assets: 8.6%**. Each dollar of assets produces 8.6% of profit.

## Growth
- **Revenue growth (1 yr): 6.6%** (3-yr 5.7%/yr, 5-yr 8.6%/yr). Revenue grew 6.6% over the last year, against 8.6% a year compounded over five years: growth is slowing.

## Financial health
- **Net debt / EBITDA: 3.1×**. It would take 3.1 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Altman Z-score: 1.74**. A Z-score of 1.74 is in the distress zone, a signal to examine the balance sheet closely.

## Dividends
- **Dividend yield: 7.51%** ($3.68 per share, trailing). Western Midstream Partners LP Common Units Representing Limited Partner Interests yields 7.51%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 121%**. The dividend exceeds earnings (121% payout), which is rarely sustainable outside REITs and one-off years.
- **Consecutive years of increases: 4**. 4 straight years of increases.
- **Dividend growth (5 yr): 18.3%/yr** (1-yr 12.7%). The dividend has compounded at 18.3% a year over five years, doubling roughly every 4 years at that pace.

## Analyst view
- **Analyst consensus: hold** (11 analysts). 11 analysts cover Western Midstream Partners LP Common Units Representing Limited Partner Interests; the consensus is hold, with an average price target of $48.64 (-2% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 37.8%** (YTD 31.0%, 3-mo 11.7%). The shares are up 37.8% over twelve months including dividends.
- **From 52-week high: -1.1%** (34.3% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 62**. An RSI of 62 is neutral.
- **Beta (1 yr): -0.03** (volatility 20%). Beta of -0.03 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=WES · Page: https://foliofundamentals.com/stocks/wes

Not investment advice.