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Westlake Chemical Partners LP (WLKP) stock analysis

WLKPNYSEIndustrial Organic ChemicalsFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 4, 2026Score 13/3085% below fair value
$21.68+0.26 (+1.21%)

Close on Nov 12, 2026Market cap $764.13MP/E –Yield –

StockData Score

Prices as of Nov 12, 2026How the score works

Value3Growth3Performance1Health3Dividend3

Mixed13 of 30 checks passed

Westlake Chemical Partners LP passes 13 of the 30 checks behind our score; 14 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
3/6
Growth
3/6
Past performance
1/6
Financial health
3/6
Dividend
3/6

What stands out

  • Margin of safety over 20%

    The price is 84.9% below fair value, more than the 20% cushion we look for.

  • Trading below fair value

    The share price of $21.68 is below our fair value estimate of $143.91.

  • Earnings growth accelerating

    Net income grew 20.4% over the last twelve months, against a 5-year average of -5.9% a year.

  • Interest well covered

    Operating income covers interest expense 17.3 times.

What to watch

  • Earnings shrank over 5 years

    Net income shrank 5.9% a year on average over the last five fiscal years.

  • Revenue growing under 10% a year

    Revenue grew -9.9% a year over the last three fiscal years, short of the 10% we look for.

  • Net margin below its 5-year average

    Net margin was 4.8% over the last twelve months, against a 5-year average of 5.0%.

Valuation3/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA against its history

    Needs positive EBITDA and price history.

  • P/S below the industry

    Westlake Chemical Partners LP's price-to-sales of 0.62 is below the Chemicals and Allied Products median of 1.03 (book value is negative, so we use sales).

  • Trading below fair value

    The share price of $21.68 is below our fair value estimate of $143.91.

  • Margin of safety over 20%

    The price is 84.9% below fair value, more than the 20% cushion we look for.

Growth3/6

  • Revenue growing under 10% a year

    Revenue grew -9.9% a year over the last three fiscal years, short of the 10% we look for.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings growth accelerating

    Net income grew 20.4% over the last twelve months, against a 5-year average of -5.9% a year.

  • Growing faster than the industry

    Revenue grew 9.4% over the last twelve months; the Chemicals and Allied Products median is 3.5%.

  • Company guidance

    No outlook found in earnings releases from the last twelve months.

  • Gross margin improving

    Gross margin was 31.4% over the last twelve months, against 30.8% a year earlier.

Past performance1/6

  • Return on equity

    Needs positive equity and five years of results.

  • Return on invested capital

    Needs operating income and invested capital.

  • Return on equity against the industry

    Needs positive equity.

  • Earnings shrank over 5 years

    Net income shrank 5.9% a year on average over the last five fiscal years.

  • Net margin below its 5-year average

    Net margin was 4.8% over the last twelve months, against a 5-year average of 5.0%.

  • Net margin above the industry

    Westlake Chemical Partners LP's net margin of 4.8% is above the Chemicals and Allied Products median of -13.3%.

Financial health3/6

  • Debt level

    Needs debt and equity figures.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt coverage

    Needs operating cash flow.

  • Interest well covered

    Operating income covers interest expense 17.3 times.

  • Short-term assets cover short-term debts

    Current assets are 3.52 times current liabilities.

  • Low bankruptcy risk

    The Altman Z-score is 3.12; above 3 is the safe zone and below 1.8 the distress zone.

Dividend3/6

  • Pays a dividend

    Westlake Chemical Partners LP paid dividends worth 6.5% of the share price over the last twelve months.

  • Yield above Treasuries

    The 6.5% yield is above the 4.6% on a 1-year Treasury.

  • Yield in the top quarter

    The top quarter of US dividend payers yield 3.9% or more; Westlake Chemical Partners LP yields 6.5%.

  • Dividend stability

    Fewer than five years of dividend history.

  • Earnings cover

    Needs dividends paid and net income.

  • Cash-flow cover

    Needs dividends paid and free cash flow.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$143.91

The share price is 85% below this estimate.

20%+ below
Near fair value
20%+ above
$21.68Price$143.91Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
EV/EBITDA10.5×–10.5×$149.0770%
Earnings power7.5% cost of equity––$131.8530%
Fair value$143.91100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Chemicals and Allied Products median 25.0

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

High risk

Average value traded per day
$427.11K
Value traded per 1% price move
$663.13K

Downside

Low risk

Typical loss in a bad month
5.0%
Volatility (annualized)
18%
Sharpe ratio, 1 year
0.81
Beta to the S&P 500 (5Y)
0.38

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2012 to 2025

Gross margin

29.8%−9.4 pts over 5 years

Operating margin

27.4%−9.1 pts over 5 years

Net margin

4.2%−2.7 pts over 5 years

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