Westlake Chemical Partners (WLKP) Financials

$23.68 +0.40 (+1.72%)

Closing price 03:59 PM Eastern

Extended Trading

$23.73 +0.05 (+0.21%)

As of 04:10 PM Eastern

Annual Income Statements for Westlake Chemical Partners

This table shows Westlake Chemical Partners' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	40	41	49	49	61	66	83	64	54	62	49
Consolidated Net Income / (Loss)	354	353	353	331	333	341	401	335	335	369	299
Net Income / (Loss) Continuing Operations	354	353	353	331	333	341	401	335	335	369	299
Total Pre-Tax Income	355	354	354	331	334	342	402	336	335	370	299
Total Operating Income	359	366	374	350	350	353	411	348	358	390	320
Total Gross Profit	383	391	404	377	379	379	442	377	387	419	348
Total Revenue	1,007	854	973	1,075	1,092	967	1,215	1,593	1,191	1,136	1,167
Operating Revenue	835	854	973	1,075	1,092	967	1,215	1,593	1,191	1,136	1,167
Total Cost of Revenue	624	462	569	698	712	588	773	1,216	803	717	819
Operating Cost of Revenue	624	462	569	698	712	588	773	1,216	803	717	819
Total Operating Expenses	24	25	29	28	29	26	31	30	30	28	28
Selling, General & Admin Expense	24	25	29	28	29	26	31	30	30	28	28
Total Other Income / (Expense), net	-4.81	-12	-20	-19	-17	-11	-8.75	-12	-22	-20	-20
Interest Expense	4.97	13	22	21	20	12	8.82	13	27	26	23
Other Income / (Expense), net	0.16	0.60	1.79	2.46	3.10	0.73	0.06	1.57	4.23	5.25	2.45
Income Tax Expense	0.67	1.04	1.28	0.02	0.73	0.56	0.55	1.02	0.81	0.84	0.55
Net Income / (Loss) Attributable to Noncontrolling Interest	314	312	304	281	272	275	319	271	280	307	250
Basic Earnings per Share	-	-	$1.43	$1.51	$1.77	$1.88	$2.34	$1.82	$1.54	$1.77	$1.38
Weighted Average Basic Shares Outstanding	27.06M	27.06M	28.39M	32.24M	34.49M	35.20M	35.21M	35.22M	35.22M	35.23M	35.25M
Diluted Earnings per Share	-	-	-	-	-	-	$2.34	$1.82	$1.54	$1.77	$1.38
Weighted Average Diluted Shares Outstanding	27.06M	27.06M	28.39M	32.24M	34.49M	35.20M	35.21M	35.22M	35.22M	35.23M	35.25M
Weighted Average Basic & Diluted Shares Outstanding	27.06M	27.06M	28.39M	32.24M	34.49M	35.20M	35.21M	35.22M	35.22M	35.23M	35.24M
Cash Dividends to Common per Share	$1.15	$1.29	$1.44	$1.61	$1.80	$1.89	$1.89	$1.89	$1.89	$1.89	$1.89

This table shows Westlake Chemical Partners' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	13	14	15	14	18	15	4.95	15	15	15	14
Consolidated Net Income / (Loss)	81	87	90	88	104	87	42	86	86	84	82
Net Income / (Loss) Continuing Operations	81	87	90	88	104	87	42	86	86	84	82
Total Pre-Tax Income	81	87	90	88	104	88	42	86	86	84	82
Total Operating Income	86	93	95	94	110	92	47	91	92	90	87
Total Gross Profit	93	101	102	101	117	99	54	98	99	97	94
Total Revenue	322	297	285	284	277	290	238	297	309	323	306
Operating Revenue	322	297	285	284	277	290	238	297	309	323	306
Total Cost of Revenue	229	197	182	183	160	191	184	200	209	226	212
Operating Cost of Revenue	229	197	182	183	160	191	184	200	209	226	212
Total Operating Expenses	6.74	7.87	7.08	7.61	7.25	6.56	7.47	6.30	7.44	7.05	7.19
Selling, General & Admin Expense	6.74	7.87	7.08	7.61	7.25	6.56	7.47	6.30	7.44	7.05	7.19
Total Other Income / (Expense), net	-5.17	-5.55	-5.25	-5.39	-5.37	-4.44	-4.19	-5.23	-5.72	-5.31	-4.74
Interest Expense	6.44	6.63	6.58	6.65	6.70	5.77	5.54	5.91	5.95	5.51	5.09
Other Income / (Expense), net	1.27	1.08	1.33	1.26	1.33	1.34	1.35	0.68	0.22	0.20	0.35
Income Tax Expense	0.22	0.21	0.21	0.21	0.22	0.20	0.11	0.21	0.04	0.19	0.18
Net Income / (Loss) Attributable to Noncontrolling Interest	68	73	75	74	86	72	37	71	72	70	67
Basic Earnings per Share	$0.37	$0.41	$0.42	$0.41	$0.51	$0.43	$0.14	$0.41	$0.42	$0.41	$0.40
Weighted Average Basic Shares Outstanding	35.23M	35.22M	35.23M	35.23M	35.24M	35.24M	35.24M	35.24M	35.25M	35.25M	35.25M
Diluted Earnings per Share	$0.37	$0.41	$0.42	$0.41	$0.51	$0.43	$0.14	$0.41	$0.42	$0.41	$0.40
Weighted Average Diluted Shares Outstanding	35.23M	35.22M	35.23M	35.23M	35.24M	35.24M	35.24M	35.24M	35.25M	35.25M	35.25M
Weighted Average Basic & Diluted Shares Outstanding	35.23M	35.22M	35.23M	35.23M	35.24M	35.23M	35.24M	35.24M	35.24M	35.24M	35.25M
Cash Dividends to Common per Share	$0.47	-	$0.47	$0.47	$0.47	-	$0.47	$0.47	$0.47	-	$0.47

This table details how cash moves in and out of Westlake Chemical Partners' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	36	-81	-62	-7.26	0.18	-2.77	-0.10	48	-6.16	-0.30	-14
Net Cash From Operating Activities	453	288	537	436	451	373	408	464	452	485	280
Net Cash From Continuing Operating Activities	453	288	537	436	451	373	408	464	452	485	280
Net Income / (Loss) Continuing Operations	354	353	353	331	333	341	401	335	335	369	299
Consolidated Net Income / (Loss)	354	353	353	331	333	341	401	335	335	369	299
Depreciation Expense	81	98	114	109	107	103	109	121	110	112	128
Non-Cash Adjustments To Reconcile Net Income	1.53	3.76	1.99	1.50	0.06	0.73	3.92	5.06	4.91	2.16	2.74
Changes in Operating Assets and Liabilities, net	16	-168	68	-4.76	11	-72	-106	2.77	2.26	1.78	-149
Net Cash From Investing Activities	-231	-299	-203	-52	-58	2.03	-64	-12	-76	-89	31
Net Cash From Continuing Investing Activities	-231	-299	-203	-52	-58	2.03	-64	-12	-76	-89	31
Purchase of Property, Plant & Equipment	-231	-300	-69	-40	-44	-37	-81	-54	-47	-49	-79
Purchase of Investments	-	0.00	-199	-384	-529	-349	-276	-320	-174	-40	-10
Sale and/or Maturity of Investments	-	0.00	63	372	515	388	293	362	145	0.00	120
Net Cash From Financing Activities	-186	-69	-396	-392	-393	-378	-344	-404	-382	-396	-326
Net Cash From Continuing Financing Activities	-186	-69	-396	-392	-393	-378	-344	-404	-382	-396	-326
Repayment of Debt	-135	-1.55	-286	0.00	-201	0.00	0.00	-32	-209	-219	-174
Payment of Dividends	-342	-280	-386	-395	-378	-378	-344	-404	-382	-396	-326
Issuance of Debt	292	212	165	3.65	124	0.00	0.00	32	209	219	174

This table details how cash moves in and out of Westlake Chemical Partners' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	6.44	-7.25	-2.86	10	-5.79	-1.89	-8.69	-13	1.36	6.33	0.02
Net Cash From Operating Activities	101	108	105	122	126	132	46	9.07	105	120	110
Net Cash From Continuing Operating Activities	101	108	105	122	126	132	46	9.07	105	120	110
Net Income / (Loss) Continuing Operations	81	87	90	88	104	87	42	86	86	84	82
Consolidated Net Income / (Loss)	81	87	90	88	104	87	42	86	86	84	82
Depreciation Expense	28	28	28	28	28	27	27	32	34	35	34
Non-Cash Adjustments To Reconcile Net Income	3.63	0.55	0.53	1.34	0.36	-0.06	0.24	0.28	1.85	0.37	0.13
Changes in Operating Assets and Liabilities, net	-12	-8.24	-14	4.21	-6.50	18	-24	-109	-17	1.20	-5.89
Net Cash From Investing Activities	-6.81	-23	-9.77	-10	-31	-38	14	36	0.35	-19	-19
Net Cash From Continuing Investing Activities	-6.81	-23	-9.77	-10	-31	-38	14	36	0.35	-19	-19
Purchase of Property, Plant & Equipment	-17	-13	-9.77	-10	-16	-13	-16	-24	-30	-8.83	-5.56
Purchase of Investments	-	-10	-	-	-15	-25	0.00	-	-	-10	-13
Sale and/or Maturity of Investments	10	-	0.00	-	-	-	30	60	30	-	0.00
Net Cash From Financing Activities	-88	-92	-98	-101	-101	-96	-69	-58	-104	-95	-92
Net Cash From Continuing Financing Activities	-88	-92	-98	-101	-101	-96	-69	-58	-104	-95	-92
Repayment of Debt	-57	-54	-54	-54	-55	-56	-54	-41	-40	-39	-41
Payment of Dividends	-88	-92	-98	-101	-101	-96	-69	-58	-104	-95	-92
Issuance of Debt	57	54	54	54	55	56	54	41	40	39	41

This table presents Westlake Chemical Partners' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,290	1,555	1,515	1,462	1,393	1,356	1,481	1,372	1,317	1,288	1,257
Total Current Assets	225	232	231	247	238	263	281	246	226	241	144
Cash & Equivalents	170	89	27	20	20	17	17	65	59	58	44
Short-Term Investments	-	-	-	149	-	123	-	-	94	135	23
Accounts Receivable	52	139	62	74	53	119	149	111	68	44	73
Inventories, net	3.88	3.93	5.59	4.39	2.48	3.47	8.90	4.72	4.43	4.06	2.77
Prepaid Expenses	0.27	0.27	0.31	0.37	0.47	0.39	0.40	0.31	0.44	0.44	0.41
Plant, Property, & Equipment, net	1,020	1,222	1,196	1,148	1,103	1,051	1,044	990	944	904	886
Total Noncurrent Assets	45	101	88	67	52	43	156	136	147	143	227
Goodwill	5.81	5.81	5.81	5.81	5.81	5.81	5.81	5.81	5.81	5.81	5.81
Other Noncurrent Operating Assets	39	95	82	61	46	37	150	130	141	138	221
Total Liabilities & Shareholders' Equity	1,290	1,555	1,515	1,462	1,393	1,356	1,481	1,372	1,317	1,288	1,257
Total Liabilities	443	634	517	528	441	441	508	468	461	459	454
Total Current Liabilities	58	38	40	49	39	40	107	67	56	55	51
Accounts Payable	34	22	25	33	21	21	46	49	31	38	29
Accrued Expenses	23	16	16	16	18	19	61	18	25	17	22
Total Noncurrent Liabilities	385	596	476	479	402	402	401	401	404	403	403
Long-Term Debt	-	-	-	-	-	-	-	400	400	400	400
Noncurrent Deferred & Payable Income Tax Liabilities	1.39	1.74	2.22	1.66	1.65	1.54	1.53	1.66	1.63	1.55	1.55
Other Noncurrent Operating Liabilities	0.09	0.12	0.11	0.00	1.15	0.38	-	0.00	2.95	2.05	1.66
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	847	921	999	934	1,265	915	973	904	856	829	802
Total Preferred & Common Equity	97	103	220	216	590	313	294	292	280	276	259
Total Common Equity	97	103	220	216	590	277	294	292	280	276	259
Common Stock	97	102	220	216	590	313	294	292	280	276	259
Noncontrolling Interest	751	818	779	718	675	638	679	612	576	553	544

This table presents Westlake Chemical Partners' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	1,462	1,343	1,336	1,342	1,295	1,288	1,295	1,371	1,307	1,272	1,236
Total Current Assets	302	232	221	231	224	232	242	225	157	131	149
Cash & Equivalents	18	105	59	66	56	66	60	50	37	38	44
Short-Term Investments	129	52	94	-	-	-	110	105	44	13	36
Accounts Receivable	146	70	63	76	69	66	67	68	73	76	65
Inventories, net	7.45	5.47	3.26	4.39	4.86	4.49	3.75	2.73	3.26	3.08	3.09
Prepaid Expenses	0.07	0.15	0.72	0.60	0.26	0.94	0.67	0.20	0.02	0.64	0.22
Plant, Property, & Equipment, net	1,017	977	963	959	927	913	909	903	902	903	872
Total Noncurrent Assets	144	133	152	151	144	143	144	243	249	238	215
Goodwill	5.81	5.81	5.81	5.81	5.81	5.81	5.81	5.81	5.81	5.81	5.81
Other Noncurrent Operating Assets	138	127	146	145	138	138	138	237	243	232	209
Total Liabilities & Shareholders' Equity	1,462	1,343	1,336	1,342	1,295	1,288	1,295	1,371	1,307	1,272	1,236
Total Liabilities	493	453	468	480	447	454	457	568	476	458	443
Total Current Liabilities	92	51	66	76	43	50	53	165	73	55	41
Accounts Payable	76	30	39	44	23	28	32	101	37	23	19
Accrued Expenses	16	21	27	31	20	22	21	63	36	32	22
Total Noncurrent Liabilities	401	401	401	405	404	404	404	403	403	403	403
Long-Term Debt	-	-	400	400	400	400	400	400	400	400	400
Noncurrent Deferred & Payable Income Tax Liabilities	1.49	1.64	1.64	1.66	1.66	1.68	1.57	1.57	1.58	1.52	1.52
Other Noncurrent Operating Liabilities	-	-	-	3.31	2.41	2.55	2.35	2.18	1.86	1.98	1.33
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	969	890	868	861	848	835	838	803	831	813	792
Total Preferred & Common Equity	293	290	286	282	278	276	278	264	262	261	256
Total Common Equity	293	290	286	282	278	276	278	264	262	261	256
Common Stock	293	290	286	282	278	276	278	264	262	261	256
Noncontrolling Interest	676	600	582	579	570	559	560	539	569	553	536

This table displays calculated financial ratios and metrics derived from Westlake Chemical Partners' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	35,245,879.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	35,245,879.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.38
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	359	365	373	350	349	352	410	347	357	390	319
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	26.60%	28.41%	31.70%	26.54%
Earnings before Interest and Taxes (EBIT)	359	367	376	352	353	354	411	349	362	396	322
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	441	465	490	461	461	457	520	470	472	508	450
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	226	0.30	354	552	260	510	229	463	493	456	221
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,062	1,427	1,446	1,243	1,332	1,174	1,355	1,239	1,103	1,036	1,134
Increase / (Decrease) in Invested Capital	133	365	19	-203	89	-157	181	-117	-136	-67	98
Book Value per Share	$3.58	$3.79	$6.83	$6.69	$16.77	$7.88	$8.35	$8.29	$7.95	$7.84	$7.34
Tangible Book Value per Share	$3.36	$3.58	$6.65	$6.51	$16.61	$7.72	$8.18	$8.12	$7.78	$7.67	$7.17
Total Capital	847	921	999	934	1,265	915	973	1,303	1,256	1,229	1,202
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	400	400	400	400
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	400	400	400	400
Net Debt	-170	-89	-27	-169	-20	-140	-17	335	247	207	332
Capital Expenditures (CapEx)	231	300	69	40	44	37	81	54	47	49	79
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1.97	105	164	30	180	83	157	114	17	-7.32	25
Debt-free Net Working Capital (DFNWC)	168	194	191	198	200	224	174	179	170	186	92
Net Working Capital (NWC)	168	194	191	198	200	224	174	179	170	186	92
Net Nonoperating Expense (NNE)	4.80	12	20	19	16	11	8.74	12	22	20	20
Net Nonoperating Obligations (NNO)	214	506	447	309	67	259	383	335	247	207	332
Total Depreciation and Amortization (D&A)	81	98	114	109	107	103	109	121	110	112	128
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.47	$0.00	$0.00	$0.00	$0.00	$1.88	$2.34	$1.82	$1.54	$1.77	$1.38
Adjusted Weighted Average Basic Shares Outstanding	27.06M	27.06M	32.24M	32.25M	35.19M	70.40M	70.43M	35.22M	35.23M	35.24M	35.25M
Adjusted Diluted Earnings per Share	$1.47	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.54	$1.77	$1.38
Adjusted Weighted Average Diluted Shares Outstanding	27.06M	27.06M	32.24M	32.25M	35.19M	70.40M	70.43M	35.22M	35.23M	35.24M	35.25M
Adjusted Basic & Diluted Earnings per Share	$1.47	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	27.06M	27.06M	28.39M	32.24M	34.49M	35.20M	35.21M	35.22M	35.22M	35.23M	35.24M
Normalized Net Operating Profit after Tax (NOPAT)	359	365	373	350	349	352	410	347	357	390	319
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Westlake Chemical Partners' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	35,245,879.00	35,245,879.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	35,245,879.00	35,245,879.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.41	0.40
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-22.51%	-18.96%	-7.48%	7.57%	-13.89%	-2.43%	-16.53%	4.56%	11.52%	-	28.64%
EBITDA Growth	3.50%	-2.67%	-0.94%	13.45%	20.21%	-1.11%	-39.71%	0.97%	-9.38%	-	61.58%
EBIT Growth	6.16%	-2.35%	-2.57%	16.35%	26.86%	-0.57%	-50.28%	-3.14%	-16.94%	-	81.25%
NOPAT Growth	5.77%	-2.60%	-3.12%	16.31%	27.28%	-0.85%	-51.00%	-2.56%	-16.01%	-	85.81%
Net Income Growth	3.25%	-4.61%	-1.97%	16.96%	28.75%	0.38%	-52.80%	-2.53%	-17.18%	-	93.00%
EPS Growth	-11.90%	-12.77%	0.00%	20.59%	37.84%	4.88%	-66.67%	0.00%	-17.65%	-	185.71%
Operating Cash Flow Growth	-12.62%	-12.16%	-27.82%	23.70%	24.92%	23.03%	-56.22%	-92.56%	-16.52%	-	140.71%
Free Cash Flow Firm Growth	-181.12%	7.81%	-83.08%	-79.25%	121.35%	-30.56%	433.67%	181.06%	-100.84%	-	-87.54%
Invested Capital Growth	0.00%	-10.96%	5.23%	4.90%	-10.66%	-6.05%	-12.04%	-1.56%	8.80%	-	5.98%
Revenue Q/Q Growth	21.76%	-7.58%	-4.24%	-0.18%	-2.52%	4.72%	-18.08%	25.03%	3.96%	-	-5.38%
EBITDA Q/Q Growth	6.58%	5.58%	1.83%	-0.99%	12.93%	-13.14%	-37.92%	65.81%	1.35%	-	-2.65%
EBIT Q/Q Growth	7.31%	7.29%	2.71%	-1.61%	17.00%	-15.90%	-48.64%	91.66%	0.32%	-	-3.38%
NOPAT Q/Q Growth	7.09%	7.67%	2.47%	-1.55%	17.19%	-16.12%	-49.37%	95.77%	1.01%	-	-3.54%
Net Income Q/Q Growth	7.43%	7.67%	2.97%	-1.81%	18.26%	-16.05%	-51.58%	102.78%	0.49%	-	-3.09%
EPS Q/Q Growth	8.82%	10.81%	2.44%	-2.38%	24.39%	-15.69%	-67.44%	192.86%	2.44%	-	-2.44%
Operating Cash Flow Q/Q Growth	2.42%	6.68%	-2.88%	16.57%	3.43%	5.07%	-65.44%	-80.19%	1,060.16%	-	-8.46%
Free Cash Flow Firm Q/Q Growth	-692.38%	120.59%	-73.41%	9.12%	509.47%	-33.04%	19.84%	-42.53%	-101.81%	-	371.86%
Invested Capital Q/Q Growth	7.28%	-7.72%	-0.43%	-1.98%	-8.62%	-2.96%	1.21%	9.70%	0.98%	-	-2.03%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	28.91%	33.87%	35.89%	35.62%	42.22%	33.99%	22.76%	32.83%	32.19%	-	30.67%
EBITDA Margin	35.98%	41.11%	43.71%	43.35%	50.23%	41.66%	31.57%	41.87%	40.81%	-	39.66%
Operating Margin	26.81%	31.22%	33.41%	32.95%	39.60%	31.73%	19.61%	30.71%	29.78%	-	28.32%
EBIT Margin	27.21%	31.59%	33.88%	33.39%	40.08%	32.19%	20.18%	30.93%	29.85%	-	28.43%
Profit (Net Income) Margin	25.14%	29.29%	31.49%	30.98%	37.58%	30.13%	17.80%	28.88%	27.91%	-	26.71%
Tax Burden Percent	99.73%	99.76%	99.77%	99.77%	99.79%	99.77%	99.75%	99.76%	99.95%	-	99.78%
Interest Burden Percent	92.64%	92.94%	93.18%	92.99%	93.97%	93.82%	88.45%	93.57%	93.55%	-	94.15%
Effective Tax Rate	0.27%	0.24%	0.23%	0.23%	0.21%	0.23%	0.25%	0.24%	0.05%	-	0.22%
Return on Invested Capital (ROIC)	56.40%	31.68%	33.48%	34.21%	39.93%	33.62%	19.01%	29.11%	30.27%	-	32.31%
ROIC Less NNEP Spread (ROIC-NNEP)	53.31%	29.78%	31.70%	32.35%	38.02%	31.67%	17.59%	27.51%	28.29%	-	30.63%
Return on Net Nonoperating Assets (RNNOA)	20.66%	9.84%	10.70%	11.01%	12.62%	8.52%	6.28%	10.78%	9.91%	-	10.84%
Return on Equity (ROE)	77.06%	41.52%	44.18%	45.23%	52.54%	42.14%	25.29%	39.89%	40.18%	-	43.15%
Cash Return on Invested Capital (CROIC)	-139.87%	42.07%	25.33%	27.37%	45.76%	42.67%	43.26%	30.79%	20.39%	-	27.42%
Operating Return on Assets (OROA)	51.12%	27.98%	30.00%	30.23%	34.76%	28.07%	16.48%	26.26%	26.37%	-	26.93%
Return on Assets (ROA)	47.23%	25.94%	27.88%	28.04%	32.59%	26.28%	14.54%	24.52%	24.66%	-	25.30%
Return on Common Equity (ROCE)	25.25%	13.49%	14.45%	14.91%	17.32%	13.90%	8.31%	12.89%	13.10%	-	14.08%
Return on Equity Simple (ROE_SIMPLE)	120.05%	0.00%	119.65%	125.20%	132.79%	0.00%	121.69%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	86	93	95	93	109	92	46	91	92	90	86
NOPAT Margin	26.74%	31.15%	33.33%	32.87%	39.52%	31.65%	19.56%	30.63%	29.76%	-	28.26%
Net Nonoperating Expense Percent (NNEP)	3.09%	1.91%	1.78%	1.86%	1.90%	1.95%	1.42%	1.60%	1.98%	-	1.67%
Return On Investment Capital (ROIC_SIMPLE)	-	7.37%	-	-	-	7.47%	3.87%	7.39%	7.58%	7.45%	7.25%
Cost of Revenue to Revenue	71.09%	66.13%	64.11%	64.38%	57.78%	66.01%	77.24%	67.17%	67.81%	-	69.33%
SG&A Expenses to Revenue	2.10%	2.65%	2.49%	2.68%	2.62%	2.26%	3.15%	2.12%	2.41%	-	2.35%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	2.10%	2.65%	2.49%	2.68%	2.62%	2.26%	3.15%	2.12%	2.41%	-	2.35%
Earnings before Interest and Taxes (EBIT)	88	94	96	95	111	93	48	92	92	90	87
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	116	122	124	123	139	121	75	124	126	125	121
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.49	2.46	2.81	2.88	2.84	2.90	3.08	2.97	2.84	-	3.04
Price to Tangible Book Value (P/TBV)	2.55	2.51	2.87	2.94	2.90	2.96	3.15	3.03	2.90	-	3.11
Price to Revenue (P/Rev)	0.56	0.58	0.67	0.67	0.69	0.70	0.75	0.71	0.65	-	0.63
Price to Earnings (P/E)	12.40	12.68	14.42	14.01	12.80	12.82	15.50	14.79	15.05	-	13.44
Dividend Yield	9.43%	9.65%	8.49%	8.35%	8.41%	8.31%	8.17%	8.54%	8.98%	-	8.54%
Earnings Yield	8.06%	7.89%	6.93%	7.14%	7.81%	7.80%	6.45%	6.76%	6.64%	-	7.44%
Enterprise Value to Invested Capital (EV/IC)	1.35	1.37	1.42	1.44	1.48	1.51	1.52	1.45	1.41	-	1.47
Enterprise Value to Revenue (EV/Rev)	1.28	1.27	1.45	1.42	1.38	1.37	1.47	1.51	1.45	-	1.32
Enterprise Value to EBITDA (EV/EBITDA)	3.40	3.20	3.60	3.48	3.10	3.07	3.49	3.63	3.68	-	3.29
Enterprise Value to EBIT (EV/EBIT)	4.44	4.18	4.72	4.53	3.99	3.94	4.60	4.84	5.04	-	4.53
Enterprise Value to NOPAT (EV/NOPAT)	4.50	4.24	4.79	4.60	4.05	4.00	4.68	4.92	5.11	-	4.55
Enterprise Value to Operating Cash Flow (EV/OCF)	3.46	3.34	4.12	3.88	3.43	3.22	3.75	5.32	5.61	-	4.74
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	3.07	5.76	5.40	3.05	3.42	3.30	4.67	7.22	-	5.52
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.46	0.47	0.47	0.48	0.48	0.48	0.50	0.48	0.49	-	0.50
Long-Term Debt to Equity	0.46	0.47	0.47	0.48	0.48	0.48	0.50	0.48	0.49	-	0.50
Financial Leverage	0.39	0.33	0.34	0.34	0.33	0.27	0.36	0.39	0.35	-	0.35
Leverage Ratio	1.56	1.53	1.52	1.54	1.55	1.55	1.61	1.56	1.55	-	1.63
Compound Leverage Factor	1.44	1.42	1.41	1.43	1.46	1.45	1.43	1.46	1.45	-	1.54
Debt to Total Capital	31.70%	31.82%	32.03%	32.37%	32.30%	32.52%	33.23%	32.47%	32.95%	-	33.53%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Long-Term Debt to Total Capital	31.70%	31.82%	32.03%	32.37%	32.30%	32.52%	33.23%	32.47%	32.95%	-	33.53%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Noncontrolling Interests to Total Capital	45.92%	45.89%	45.68%	45.27%	45.26%	45.01%	44.78%	46.21%	45.57%	-	44.99%
Common Equity to Total Capital	22.38%	22.29%	22.29%	22.36%	22.44%	22.47%	21.99%	21.32%	21.49%	-	21.48%
Debt to EBITDA	0.84	0.85	0.85	0.82	0.79	0.79	0.87	0.87	0.90	-	0.81
Net Debt to EBITDA	0.70	0.52	0.73	0.69	0.45	0.41	0.54	0.69	0.78	-	0.64
Long-Term Debt to EBITDA	0.84	0.85	0.85	0.82	0.79	0.79	0.87	0.87	0.90	-	0.81
Debt to NOPAT	1.11	1.12	1.13	1.09	1.02	1.03	1.17	1.18	1.24	-	1.11
Net Debt to NOPAT	0.93	0.69	0.97	0.91	0.59	0.53	0.72	0.94	1.08	-	0.89
Long-Term Debt to NOPAT	1.11	1.12	1.13	1.09	1.02	1.03	1.17	1.18	1.24	-	1.11
Altman Z-Score	2.17	2.19	2.37	2.39	2.38	2.34	1.82	2.13	2.17	-	2.39
Noncontrolling Interest Sharing Ratio	67.23%	67.51%	67.30%	67.02%	67.04%	67.01%	67.14%	67.68%	67.39%	-	67.37%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.06	4.02	5.21	4.68	4.53	4.35	1.37	2.15	2.37	-	3.65
Quick Ratio	1.88	3.93	2.90	2.67	4.45	4.27	1.35	2.10	2.31	-	3.57
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,109	228	36	39	237	159	190	109	-1.98	-8.71	24
Operating Cash Flow to CapEx	600.39%	838.43%	1,069.94%	1,197.64%	810.95%	983.15%	286.92%	37.21%	354.91%	-	1,983.41%
Free Cash Flow to Firm to Interest Expense	-172.30	34.43	5.41	5.84	35.35	27.48	34.32	18.49	-0.33	-	4.66
Operating Cash Flow to Interest Expense	15.68	16.24	15.89	18.33	18.82	22.95	8.27	1.54	17.70	-	21.67
Operating Cash Flow Less CapEx to Interest Expense	13.07	14.30	14.40	16.80	16.50	20.62	5.39	-2.59	12.71	-	20.58
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.88	0.89	0.89	0.91	0.87	0.87	0.82	0.85	0.88	-	0.95
Accounts Receivable Turnover	0.00	13.29	16.79	18.40	15.92	20.32	15.89	15.86	15.83	-	18.58
Inventory Turnover	0.00	175.65	151.89	204.13	177.30	168.89	189.12	189.64	229.63	-	290.84
Fixed Asset Turnover	0.00	1.23	1.23	1.27	1.22	1.23	1.19	1.21	1.25	-	1.39
Accounts Payable Turnover	0.00	19.89	29.21	23.56	18.96	20.54	11.51	22.81	28.50	-	14.07
Days Sales Outstanding (DSO)	0.00	27.47	21.74	19.84	22.93	17.97	22.97	23.02	23.05	-	19.65
Days Inventory Outstanding (DIO)	0.00	2.08	2.40	1.79	2.06	2.16	1.93	1.92	1.59	-	1.26
Days Payable Outstanding (DPO)	0.00	18.35	12.50	15.49	19.25	17.77	31.71	16.00	12.81	-	25.94
Cash Conversion Cycle (CCC)	0.00	11.20	11.65	6.13	5.74	2.36	-6.81	8.94	11.84	-	-5.04
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,195	1,103	1,192	1,169	1,068	1,036	1,049	1,150	1,162	1,134	1,111
Invested Capital Turnover	2.11	1.02	1.00	1.04	1.01	1.06	0.97	0.95	1.02	-	1.14
Increase / (Decrease) in Invested Capital	1,195	-136	59	55	-127	-67	-144	-18	94	98	63
Enterprise Value (EV)	1,617	1,511	1,696	1,688	1,580	1,560	1,598	1,666	1,641	-	1,634
Market Capitalization	704	688	782	796	790	800	814	778	740	-	779
Book Value per Share	$8.01	$7.95	$7.90	$7.84	$7.88	$7.84	$7.51	$7.45	$7.40	$7.34	$7.27
Tangible Book Value per Share	$7.85	$7.78	$7.73	$7.67	$7.72	$7.67	$7.34	$7.28	$7.23	$7.17	$7.10
Total Capital	1,261	1,256	1,248	1,235	1,237	1,229	1,203	1,231	1,213	1,202	1,192
Total Debt	400	400	400	400	400	400	400	400	400	400	400
Total Long-Term Debt	400	400	400	400	400	400	400	400	400	400	400
Net Debt	334	247	344	334	230	207	246	319	348	332	319
Capital Expenditures (CapEx)	17	13	9.77	10	16	13	16	24	30	8.83	5.56
Debt-free, Cash-free Net Working Capital (DFCFNWC)	90	17	126	117	19	-7.32	-94	3.12	24	25	27
Debt-free Net Working Capital (DFNWC)	156	170	181	183	188	186	60	84	76	92	108
Net Working Capital (NWC)	156	170	181	183	188	186	60	84	76	92	108
Net Nonoperating Expense (NNE)	5.15	5.54	5.23	5.38	5.36	4.43	4.18	5.22	5.72	5.30	4.73
Net Nonoperating Obligations (NNO)	334	247	344	334	230	207	246	319	348	332	319
Total Depreciation and Amortization (D&A)	28	28	28	28	28	27	27	32	34	35	34
Debt-free, Cash-free Net Working Capital to Revenue	7.14%	1.41%	10.75%	9.81%	1.62%	-0.64%	-8.62%	0.28%	2.15%	-	2.22%
Debt-free Net Working Capital to Revenue	12.37%	14.27%	15.52%	15.37%	16.47%	16.34%	5.54%	7.59%	6.68%	-	8.76%
Net Working Capital to Revenue	12.37%	14.27%	15.52%	15.37%	16.47%	16.34%	5.54%	7.59%	6.68%	-	8.76%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.37	$0.41	$0.42	$0.41	$0.51	$0.43	$0.14	$0.41	$0.42	$0.41	$0.40
Adjusted Weighted Average Basic Shares Outstanding	35.23M	35.22M	35.23M	35.23M	35.24M	35.24M	35.24M	35.24M	35.25M	35.25M	35.25M
Adjusted Diluted Earnings per Share	$0.37	$0.41	$0.42	$0.41	$0.51	$0.43	$0.14	$0.41	$0.42	$0.41	$0.40
Adjusted Weighted Average Diluted Shares Outstanding	35.23M	35.22M	35.23M	35.23M	35.24M	35.24M	35.24M	35.24M	35.25M	35.25M	35.25M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	35.23M	35.22M	35.23M	35.23M	35.24M	35.23M	35.24M	35.24M	35.24M	35.24M	35.25M
Normalized Net Operating Profit after Tax (NOPAT)	86	93	95	93	109	92	46	91	92	90	86
Normalized NOPAT Margin	26.74%	31.15%	33.33%	32.87%	39.52%	31.65%	19.56%	30.63%	29.76%	-	28.26%
Pre Tax Income Margin	25.20%	29.35%	31.56%	31.05%	37.66%	30.20%	17.85%	28.94%	27.92%	-	26.77%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	13.60	14.16	14.65	14.27	16.57	16.18	8.66	15.56	15.50	-	17.09
NOPAT to Interest Expense	13.36	13.96	14.42	14.04	16.34	15.91	8.40	15.41	15.46	-	16.99
EBIT Less CapEx to Interest Expense	10.98	12.22	13.17	12.74	14.25	13.84	5.78	11.43	10.52	-	16.00
NOPAT Less CapEx to Interest Expense	10.75	12.03	12.93	12.51	14.02	13.57	5.51	11.28	10.47	-	15.89
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	126.87%	114.22%	112.55%	109.64%	106.42%	107.36%	114.10%	101.21%	108.17%	-	103.22%
Augmented Payout Ratio	126.87%	114.22%	112.55%	109.64%	106.42%	107.36%	114.10%	101.21%	108.17%	-	103.22%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, investor-focused look at Westlake Chemical Partners LP (NYSE: WLKP) using the latest quarterly data from the last four years. The bullets highlight notable trends in revenue, profitability, cash flow, and balance-sheet strength that could matter to retail investors.

Revenue recovery in 2025 Q4: Operating revenue rose to 323.0 million, up from 290.1 million in 2024 Q4 and higher than 2023 Q4 (297.3 million), marking about an 11% YoY uplift from the 2024 trough.
Robust operating cash flow in late 2025: Net cash from continuing operating activities reached 120.38 million in 2025 Q4, up from 105.24 million in 2025 Q3, signaling improving cash generation from operations.
Solid balance-sheet cushion: Total equity around 813–837 million in 2025, with total liabilities roughly 458–476 million, indicating a relatively conservative leverage profile for a downstream MLP.
Consistent earnings to common shareholders: Net income to common shareholders in 2025 quarters generally in the mid-teens millions (roughly 14.4–14.9 million), while consolidated net income runs around 84–86 million per quarter due to noncontrolling interests.
Dividend policy remains steady: Cash dividends per share are 0.4714 USD, contributing to financing outflows but supporting shareholder returns.
Volatile revenue pattern with cyclicality: 2022 saw a higher quarterly revenue (around 366.8 million in Q4), followed by softer 2023–2024 levels and a rebound in 2025, suggesting the business is influenced by petrochemical cycles.
Earnings per share sit in the 0.41–0.42 range: Basic and diluted EPS hovered around 0.41–0.42 in 2024–2025 quarters, reflecting steady but modest per-share profits amid minority interests.
Top-line weakness vs. the 2022 peak: The sequence from 2022 highs to 2024 lows before rebounding in 2025 points to ongoing cyclicality and sensitivity to feedstock and product prices.
Financing outflows weigh cash, despite positive CFO: Net cash from financing activities has been negative in several quarters this year due to dividends and debt activity, reducing overall cash generation from external financing.
Noncontrolling interests compress per-share economics: A sizable noncontrolling interest portion (driving consolidated earnings) means per-share metrics may understate the cash-generating strength available to equity holders.

05/11/26 05:57 PM ETAI Generated. May Contain Errors.

Westlake Chemical Partners Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Westlake Chemical Partners' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

The last 5 years of Westlake Chemical Partners' net income performance:

2021: $401.39 million
2022: $334.83 million
2023: $334.63 million
2024: $369.16 million
2025: $298.58 million

Find out what analysts predict for Westlake Chemical Partners in the coming months.

Westlake Chemical Partners' total operating income in 2025 was $319.58 million, based on the following breakdown:

Total Gross Profit: $347.85 million
Total Operating Expenses: $28.27 million

Over the last 10 years, Westlake Chemical Partners' total revenue changed from $1.01 billion in 2015 to $1.17 billion in 2025, a change of 15.8%.

Westlake Chemical Partners' total liabilities were at $454.18 million at the end of 2025, a 1.0% decrease from 2024, and a 2.5% increase since 2015.

In the past 10 years, Westlake Chemical Partners' cash and equivalents has ranged from $17.06 million in 2021 to $169.56 million in 2015, and is currently $44.27 million as of their latest financial filing in 2025.

Over the last 10 years, Westlake Chemical Partners' book value per share changed from 3.58 in 2015 to 7.34 in 2025, a change of 105.0%.

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Financial statements for NYSE:WLKP last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Westlake Chemical Partners (WLKP) Financials

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