Western Midstream Partners, LP(WES)— Stock Profile, AI Score & Financials
Energy · NYSE · AI-powered stock analysis, 32-signal quality score, SEC EDGAR financials, and institutional holdings. Updated .
Western Midstream Partners, LP (WES) stock profile, AI quality score, and SEC EDGAR financial data, a Energy sector company. 13F Pro's AI-powered ranking engine scores WES at 71.0/100 on a 32-signal composite quality model, placing it at rank #204 of 2,961 stocks — the top 10% of the AI-ranked universe. WES scores in the top quartile across free cash flow (95.9), profitability (82.3), balance sheet strength (81.7). Shareholder dilution risk is elevated at 49.4/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), Western Midstream Partners, LP reports quarterly revenue of $1.1B, net income of $350.3M, an operating margin of 41.8%. Top institutional holders of WES by reported 13-F value include ALPS ADVISORS, Invesco Ltd., MORGAN STANLEY, based on the most recent SEC filings. WES trades on the NYSE exchange and files with the SEC under CIK 1423902. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate WES daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Western Midstream Partners, LP directly from SEC EDGAR.
AI Quality Score
71.0/100
AI Rank
#204
Revenue
$1.1B
Net Income
$350.3M
Operating Margin
41.8%
WES key financials by period
Western Midstream Partners, LP reported revenue, net income and margins by fiscal period, from SEC filings.
Period
Form
Revenue
Net income
Operating margin
FY 2025
10-K
$3.8B
$1.2B
41.7%
FY 2024
10-K
$3.6B
$1.6B
54.7%
FY 2023
10-K
$3.1B
$1.0B
44.4%
FY 2022
10-K
$3.3B
$1.2B
48.8%
FY 2021
10-K
$2.9B
$916.3M
46.4%
FY 2020
10-K
$2.8B
$527.0M
31.7%
Institutions holding WES
Institutional investors reporting a position in Western Midstream Partners, LP on SEC Form 13F.
AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Total revenues rose 30% YoY to $1.22B as the Aris and Brazos Delaware acquisitions lifted produced-water throughput 5% QoQ to 2,993 MBbls/d and Adjusted EBITDA to $736.5M.
Biggest Revenue Drivers
Service revenues – fee based$980.1M+5% QoQ
Up $46.8M QoQ on $31.3M at DBM water systems from increased throughput and disposal-fee revenue, $9.1M from the Comanche complex, $7.7M at DJ Basin
Biggest Revenue Drivers
Total revenue: $1,224.7M+30% YoY
Service revenues – fee based$980.1M+5% QoQ
Up $46.8M QoQ on $31.3M at DBM water systems from increased throughput and disposal-fee revenue, $9.1M from the Comanche complex, $7.7M at DJ Basin
Largest Expense Items
Operation and maintenance$285.4M+8% QoQ
Up $21.1M QoQ on $10.6M higher water-disposal costs and $6.2M in chemicals and treating costs
Depreciation and amortization$205.9M+3% QoQ
Up $5.5M QoQ, primarily $4.0M related to the acquisition of the Comanche complex
Cost of product$117.4M+14% QoQ
Crude oil and NGLs purchases up $6.2M, including $3.7M from the Comanche complex; imbalance-position changes added $6.0M
General and administrative$85.9M+14% QoQ
Up $10.8M QoQ on $8.0M higher corporate expenses, primarily Brazos Delaware transaction costs
Margins: Gross margin rose $81.1M QoQ to $901.3M as revenues gained $101.1M against a $14.6M cost-of-product increase. Per-Mcf Adjusted Gross Margin for natural gas improved $0.03 to $1.35, helped by the higher-margin Comanche and DJ Basin volumes.
Watch Items from the Filing
Occidental was the only customer exceeding 10% of consolidated revenues in all periods; related-party revenues were $570.0 million of the quarter's $1,224.7 million.
Brazos Delaware closed June 11, 2026 for ~$1.67 billion ($820.3M cash, $852.0M units); integration risk is a newly added risk factor and controls are still being evaluated.
Carrying value of outstanding debt was $9.1 billion, with a $110.6 million working capital deficit and $1.8 billion of effective RCF capacity remaining.
Powder River Basin natural-gas throughput fell 16% to 397 MMcf/d for the six months on decreased production; equity-investment throughput fell 15%.
Contract liabilities rose to $1,285.0 million from $767.1 million, driven by $572.7 million of non-cash consideration from the Occidental unit redemption valued at $610.0 million.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
