Western Midstream Partners, LP (WES) stock
WESNYSENatural Gas TransmissionFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 4, 2026Score 9/3025% below fair value
$42.23+0.45 (+1.08%)
Close on Nov 13, 2026Market cap $17.45BP/E –Yield –
Western Midstream Partners, LP gross margin
Gross margin is gross profit as a percentage of revenue.
Western Midstream Partners, LP's gross margin for the twelve months ending Sep 30, 2026 was 91.0%. For fiscal 2025 it was 94.6%, against 95.2% the year before. The highest annual figure on record is 95.2% in fiscal 2024.
Annual gross margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 94.6% | −0.6 |
| FY2024 | Dec 31, 2024 | 95.2% | +0.5 |
| FY2023 | Dec 31, 2023 | 94.7% | +7.6 |
| FY2022 | Dec 31, 2022 | 87.1% | −1.7 |
| FY2021 | Dec 31, 2021 | 88.8% | −4.4 |
| FY2020 | Dec 31, 2020 | 93.2% | +9.4 |
| FY2019 | Dec 31, 2019 | 83.8% | +1.9 |
| FY2018 | Dec 31, 2018 | 81.9% | +21.2 |
| FY2017 | Dec 31, 2017 | 60.7% | −11.9 |
| FY2016 | Dec 31, 2016 | 72.6% | – |
Quarterly gross margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 89.8% | −4.8 |
| Q2 FY2026 | Jun 30, 2026 | 90.4% | −5.1 |
| Q1 FY2026 | Mar 31, 2026 | 90.8% | −4.6 |
| Q4 FY2025 | Dec 31, 2025 | 93.1% | −2.7 |
| Q3 FY2025 | Sep 30, 2025 | 94.6% | −1.7 |
| Q2 FY2025 | Jun 30, 2025 | 95.5% | +1.4 |
| Q1 FY2025 | Mar 31, 2025 | 95.5% | +0.7 |
| Q4 FY2024 | Dec 31, 2024 | 95.8% | +0.5 |
| Q3 FY2024 | Sep 30, 2024 | 96.3% | −0.2 |
| Q2 FY2024 | Jun 30, 2024 | 94.0% | +0.1 |
| Q1 FY2024 | Mar 31, 2024 | 94.8% | +1.8 |
| Q4 FY2023 | Dec 31, 2023 | 95.2% | +7.1 |
| Q3 FY2023 | Sep 30, 2023 | 96.4% | +9.2 |
| Q2 FY2023 | Jun 30, 2023 | 93.9% | +10.9 |
| Q1 FY2023 | Mar 31, 2023 | 93.0% | +2.6 |
| Q4 FY2022 | Dec 31, 2022 | 88.1% | −1.9 |
| Q3 FY2022 | Sep 30, 2022 | 87.2% | −1.9 |
| Q2 FY2022 | Jun 30, 2022 | 83.0% | −6.1 |
| Q1 FY2022 | Mar 31, 2022 | 90.4% | +3.6 |
| Q4 FY2021 | Dec 31, 2021 | 90.0% | −4.7 |
| Q3 FY2021 | Sep 30, 2021 | 89.1% | −6.2 |
| Q2 FY2021 | Jun 30, 2021 | 89.1% | −8.1 |
| Q1 FY2021 | Mar 31, 2021 | 86.8% | +0.2 |
| Q4 FY2020 | Dec 31, 2020 | 94.7% | +9.8 |
| Q3 FY2020 | Sep 30, 2020 | 95.3% | +10.0 |
| Q2 FY2020 | Jun 30, 2020 | 97.2% | +15.2 |
| Q1 FY2020 | Mar 31, 2020 | 86.7% | +3.6 |
| Q4 FY2019 | Dec 31, 2019 | 84.9% | +2.8 |
| Q3 FY2019 | Sep 30, 2019 | 85.3% | +2.5 |
| Q2 FY2019 | Jun 30, 2019 | 82.1% | +0.5 |
| Q1 FY2019 | Mar 31, 2019 | 83.0% | +1.8 |
| Q4 FY2018 | Dec 31, 2018 | 82.0% | +21.6 |
| Q3 FY2018 | Sep 30, 2018 | 82.8% | +24.4 |
| Q2 FY2018 | Jun 30, 2018 | 81.5% | +20.2 |
| Q1 FY2018 | Mar 31, 2018 | 81.2% | – |
| Q4 FY2017 | Dec 31, 2017 | 60.4% | – |
| Q3 FY2017 | Sep 30, 2017 | 58.4% | – |
| Q2 FY2017 | Jun 30, 2017 | 61.3% | – |
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