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Western Midstream Partners LP Common (WES) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$45.82 +1.75% NYSE • Live Quote vs Prior Daily Close (Synced Snapshot)

Western Midstream Partners LP Common (WES) earns a Roarable Rating of B (Buy) with 73/100 RQD Confidence. High-quality cash engine (steady margins, 16% return on capital) with steady institutional support. The company’s underlying cash engine and institutional positioning keep the composite score in the Green Buy zone.

ROARABLE B • BUY Cap $18.93B

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RQD QUANT TACHOMETERBUY • B

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Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw B · Rk B

Each axis scored 0–20

12M PRICE TARGET CONE+6.7% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for WES)Realized 20D OHLCV Swing Band: ±3.6%

VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How WES Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$2.05B (53.4% FCF Margin)

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow

FY23

Rev $3.11B

FY24

Rev $3.60B

FY25

Rev $3.84B

Fiscal Year	Revenue	Gross Margin	Op Margin	Net Profit	Free Cash Flow	ROIC %
FY 2025	$3.84B	52%	41.7%	$1.18B	$2.05B	15.4%
FY 2024	$3.60B	52%	54.7%	$1.57B	$1.97B	23.3%
FY 2023	$3.11B	52%	44.4%	$1.02B	$1.52B	17.3%

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Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring WES)

✓Walkthrough of WES's RQD Radar, SEC cash-conversion gap & downside invalidation levels
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WES // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +7.63%📐 HORIZONTAL RANGE

2026-11-01O $45.03H $45.82L $45.03C $45.82VOL 1.35M

RES: $51.86SUP: $43.13SMA50: $46.42SMA200: $44.17

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

WES Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 WES Butterfly Map → + Track WES →

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)

8.6%/yr Implied 5Y Growth

vs. +6.6% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on WES today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for WES. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for WES today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (WES)

Energy Rank #19 of 88 ⚔️ PAA vs WES Full Matrix →

1. Head-to-Head Energy Peer Comparison (WES vs. PAA, DINO, DTM, AM)

Industry: Natural Gas Distribution (19 Tracked Issuers)

Across 88 tracked Energy securities in the Roarable RQD universe, Western Midstream Partners LP Common (WES) ranks #19 by composite RQD confidence (73/100, grade B) and #48 by equity capitalization ($18.93B). Within this direct 5-issuer industry benchmark cohort, PAA leads on earnings valuation at 10.7x trailing P/E, while WES leads on capital efficiency and profitability with 16.0% ROIC and — gross margin. WES currently leads its immediate peer cohort in composite quantitative strength at 73/100 (B).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
WES ACTIVE Western Midstream Partners LP Common	B	73/100	16.0x	—	16.0%	+1.75%	$18.93B	Benchmark Subject
PAA Plains All American Pipeline L.P. Common	C+	68/100	10.7x	8.7%	5.3%	+1.18%	$18.99B	/paa-vs-wes →
DINO HF Sinclair Corporation	C+	68/100	33.1x	—	6.7%	-0.06%	$19.17B	/dino-vs-wes →
DTM DT Midstream Inc.	C-	59/100	29.4x	—	6.1%	+1.75%	$12.95B	/dtm-vs-wes →
AM Antero Midstream Corporation	C	64/100	24.3x	—	10.2%	+3.71%	$10.16B	/am-vs-wes →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001423902

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Western Midstream Partners LP Common (WES) reported GAAP revenue of $3.84B (+6.6% vs. FY2024 revenue of $3.60B , and +23.7% cumulative change since FY2023) , GAAP net income of $1.18B, operating cash flow of $2.22B, and free cash flow of $2.05B (+3.8% YoY). On the balance sheet, WES closed FY2025 with $15.00B in total assets against $4.88B in total debt (Altman Z-Score: 1.85, Piotroski F-Score: 8/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$3.84B	$1.18B	$2.22B	$2.05B	$15.00B	$4.88B
FY2024 (FY)	2024-12-31	$3.60B	$1.57B	$2.14B	$1.97B	$13.14B	$4.40B
FY2023 (FY)	2023-12-31	$3.11B	$1.02B	$1.66B	$1.52B	$10.41B	$2.44B

3. WES Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is WES stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-01, Western Midstream Partners LP Common (NYSE: WES) is rated B (Buy / BUY) by Roarable's 5-pillar RQD engine with a composite confidence score of 73/100 at a spot price of $45.82 (+1.75% 1D, market cap $18.93B). Pillar breakdown: Fundamental Cash Engine 15/20, Institutional 13F & Options Flow 10/20, Executive Insider Alignment 14/20, FRED Macro Regime Fit 16/20, and SEC Balance-Sheet Forensics 18/20. Across 88 tracked Energy issuers, WES ranks #19 in composite RQD confidence.

How does WES compare to PAA and DINO in the Energy sector?

Within the Energy sector (Natural Gas Distribution), WES carries a Roarable B (73/100 RQD), trailing P/E of 16.0x, gross margin of —, and ROIC of 16.0%. By comparison, PAA (Plains All American Pipeline L.P. Common) holds a C+ grade (68/100 RQD, P/E 10.7x, ROIC 5.3%, cap $18.99B) and DINO (HF Sinclair Corporation) posts a C+ grade (68/100 RQD, P/E 33.1x, ROIC 6.7%, cap $19.17B). Among the 5-stock peer group, PAA leads on earnings multiple (10.7x) while WES leads on capital efficiency (16.0% ROIC).

What are the biggest fundamental strengths and SEC risk factors for WES?

Per WES's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001423902), Western Midstream Partners LP Common generated $3.84B in revenue (+6.6% YoY), $1.18B in net income, and $2.05B in free cash flow against $15.00B in total assets and $4.88B in total debt. Key quantitative strengths: Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks.. Primary risk factors monitored: Broader market pullbacks can still drag down strong stocks in the short run.. Institutional options positioning shows a 50% call / 50% put premium split.

Where is WES trading relative to its 50-day, 200-day, and 52-week technical levels?

WES last traded at $45.82 (+1.75% on volume of 1,348,338 shares), positioning the stock -1.29% below its 50-day simple moving average ($46.42) and +3.74% above its 200-day simple moving average ($44.17). Across its 52-week range of $36.90 to $50.07, WES sits at the 67.7% percentile with a 14-day RSI of 52.9 (NEUTRAL RANGE) and an implied next-earnings move of ±3.6% ($44.17 to $47.47).

WES Investor FAQ & Complete 8-Part Research Index

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How profitable is Western Midstream Partners LP Common (WES)?

In FY 2025 (10-K), WES converted $3.8B of revenue into a 52% gross margin, 41.7% operating margin, and $2.0B in free cash flow (53.4% FCF margin).

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