WLKP
Westlake Chemical Partners LP
Chemicals
Market Cap$818M
5Y Perf.+13.2%
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Stock Comparison
WLKP vs MPLX
Revenue, margins, valuation, and 5-year total return — side by side.
MPLX
MPLX Lp
Oil & Gas Midstream
Market Cap$57.12B
5Y Perf.+196.3%
WLKP vs MPLX — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | WLKP | MPLX |
|---|---|---|
| Industry | Chemicals | Oil & Gas Midstream |
| Market Cap | $818M | $57.12B |
| Revenue (TTM) | $1.23B | $12.54B |
| Net Income (TTM) | $195M | $4.71B |
| Gross Margin | 31.4% | 60.0% |
| Operating Margin | 29.1% | 44.9% |
| Forward P/E | 12.3x | 12.7x |
| Total Debt | $400M | $26.16B |
| Cash & Equiv. | $44M | $2.14B |
WLKP vs MPLX — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
WLKP
MPLX
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Westlake Chemical P… (WLKP) | 100 | 113.2 | +13.2% |
| MPLX Lp (MPLX) | 100 | 296.3 | +196.3% |
Price return only. Dividends and distributions are not included.
Quick Verdict: WLKP vs MPLX
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: MPLX leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. Westlake Chemical Partners LP is the stronger pick specifically for valuation and capital efficiency and dividend income and shareholder returns. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
WLKP
Westlake Chemical Partners LP
The Defensive Pick
WLKP is the clearest fit if your priority is sleep-well-at-night and defensive.
- Lower volatility, beta 0.26, Low D/E 49.8%, current ratio 2.80x
- Beta 0.26, yield 8.1%, current ratio 2.80x
- Lower P/E (12.3x vs 12.7x)
Best for: sleep-well-at-night and defensive
MPLX
MPLX Lp
The Income Pick
MPLX carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 3 yrs, beta 0.18, yield 7.0%
- Rev growth 8.4%, EPS growth 14.5%, 3Y rev CAGR 3.9%
- 184.4% 10Y total return vs WLKP's 94.3%
Best for: income & stability and growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | MPLX | 8.4% revenue growth vs WLKP's 2.7% |
| Value | WLKP | Lower P/E (12.3x vs 12.7x) |
| Quality / Margins | MPLX | 37.5% margin vs WLKP's 15.8% |
| Stability / Safety | MPLX | Beta 0.18 vs WLKP's 0.26 |
| Dividends | WLKP | 8.1% yield, 1-year raise streak, vs MPLX's 7.0% |
| Momentum (1Y) | MPLX | +22.5% vs WLKP's +8.8% |
| Efficiency (ROA) | WLKP | 15.4% ROA vs MPLX's 11.3%, ROIC 20.6% vs 9.9% |
WLKP vs MPLX — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2020
FY 2025
WLKP vs MPLX — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLWLKPLAGGINGMPLX
MPLXMPLX Lp
2leads
WLKPWestlake Chemical Par…
2leads
6 Total Categories
CATEGORYLEADERvs MPLXMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
MPLX4/6
Valuation MetricsMultiples, price ratios, and targets
WLKP6/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
WLKP7/9
Total Returns1Y, 3Y, 5Y total returns with dividends
MPLX5/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
MPLX leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
MPLX is the larger business by revenue, generating $12.5B annually — 10.2x WLKP's $1.2B. MPLX is the more profitable business, keeping 37.5% of every revenue dollar as net income compared to WLKP's 15.8%. On growth, WLKP holds the edge at +28.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | WLKPWestlake Chemical… | MPLXMPLX Lp |
|---|---|---|
| RevenueTrailing 12 months | $1.2B | $12.5B |
| EBITDAEarnings before interest/tax | $466M | $7.0B |
| Net IncomeAfter-tax profit | $195M | $4.7B |
| Free Cash FlowCash after capex | $276M | $5.0B |
| Gross MarginGross profit ÷ Revenue | +31.4% | +60.0% |
| Operating MarginEBIT ÷ Revenue | +29.1% | +44.9% |
| Net MarginNet income ÷ Revenue | +15.8% | +37.5% |
| FCF MarginFCF ÷ Revenue | +22.4% | +39.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | +28.6% | +5.2% |
| EPS Growth (YoY)Latest quarter vs prior year | +185.7% | -17.3% |
MPLX leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
WLKP leads this category, winning 6 of 6 comparable metrics.
Valuation Metrics
At 2.7x trailing earnings, WLKP trades at a 77% valuation discount to MPLX's 11.7x P/E. On an enterprise value basis, WLKP's 2.6x EV/EBITDA is more attractive than MPLX's 13.3x.
| Metric | WLKPWestlake Chemical… | MPLXMPLX Lp |
|---|---|---|
| Market CapShares × price | $818M | $57.1B |
| Enterprise ValueMkt cap + debt − cash | $1.2B | $81.1B |
| Trailing P/EPrice ÷ TTM EPS | 2.74x | 11.67x |
| Forward P/EPrice ÷ next-FY EPS est. | 12.34x | 12.71x |
| PEG RatioP/E ÷ EPS growth rate | 0.08x | — |
| EV / EBITDAEnterprise value multiple | 2.62x | 13.27x |
| Price / SalesMarket cap ÷ Revenue | 0.70x | 4.83x |
| Price / BookPrice ÷ Book value/share | 1.02x | 3.95x |
| Price / FCFMarket cap ÷ FCF | 4.05x | 13.93x |
WLKP leads this category, winning 6 of 6 comparable metrics.
Profitability & Efficiency
WLKP leads this category, winning 7 of 9 comparable metrics.
Profitability & Efficiency
MPLX delivers a 32.8% return on equity — every $100 of shareholder capital generates $33 in annual profit, vs $24 for WLKP. WLKP carries lower financial leverage with a 0.50x debt-to-equity ratio, signaling a more conservative balance sheet compared to MPLX's 1.80x. On the Piotroski fundamental quality scale (0–9), MPLX scores 6/9 vs WLKP's 5/9, reflecting solid financial health.
| Metric | WLKPWestlake Chemical… | MPLXMPLX Lp |
|---|---|---|
| ROE (TTM)Return on equity | +24.1% | +32.8% |
| ROA (TTM)Return on assets | +15.4% | +11.3% |
| ROICReturn on invested capital | +20.6% | +9.9% |
| ROCEReturn on capital employed | +26.2% | +12.9% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 |
| Debt / EquityFinancial leverage | 0.50x | 1.80x |
| Net DebtTotal debt minus cash | $355M | $24.0B |
| Cash & Equiv.Liquid assets | $44M | $2.1B |
| Total DebtShort + long-term debt | $400M | $26.2B |
| Interest CoverageEBIT ÷ Interest expense | 10.26x | 5.85x |
WLKP leads this category, winning 7 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
MPLX leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in MPLX five years ago would be worth $25,723 today (with dividends reinvested), compared to $12,040 for WLKP. Over the past 12 months, MPLX leads with a +22.5% total return vs WLKP's +8.8%. The 3-year compound annual growth rate (CAGR) favors MPLX at 25.1% vs WLKP's 9.9% — a key indicator of consistent wealth creation.
| Metric | WLKPWestlake Chemical… | MPLXMPLX Lp |
|---|---|---|
| YTD ReturnYear-to-date | +24.9% | +6.4% |
| 1-Year ReturnPast 12 months | +8.8% | +22.5% |
| 3-Year ReturnCumulative with dividends | +32.7% | +95.7% |
| 5-Year ReturnCumulative with dividends | +20.4% | +157.2% |
| 10-Year ReturnCumulative with dividends | +94.3% | +184.4% |
| CAGR (3Y)Annualised 3-year return | +9.9% | +25.1% |
MPLX leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
Evenly matched — WLKP and MPLX each lead in 1 of 2 comparable metrics.
Risk & Volatility
MPLX is the less volatile stock with a 0.18 beta — it tends to amplify market swings less than WLKP's 0.26 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. WLKP currently trades 98.3% from its 52-week high vs MPLX's 93.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | WLKPWestlake Chemical… | MPLXMPLX Lp |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.26x | 0.18x |
| 52-Week HighHighest price in past year | $23.60 | $59.98 |
| 52-Week LowLowest price in past year | $17.75 | $47.80 |
| % of 52W HighCurrent price vs 52-week peak | +98.3% | +93.8% |
| RSI (14)Momentum oscillator 0–100 | 67.2 | 46.5 |
| Avg Volume (50D)Average daily shares traded | 31K | 1.8M |
Evenly matched — WLKP and MPLX each lead in 1 of 2 comparable metrics.
Analyst Outlook
Evenly matched — WLKP and MPLX each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates WLKP as "Hold" and MPLX as "Buy". Consensus price targets imply 25.0% upside for WLKP (target: $29) vs 7.1% for MPLX (target: $60). For income investors, WLKP offers the higher dividend yield at 8.13% vs MPLX's 7.01%.
| Metric | WLKPWestlake Chemical… | MPLXMPLX Lp |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $29.00 | $60.25 |
| # AnalystsCovering analysts | 10 | 28 |
| Dividend YieldAnnual dividend ÷ price | +8.1% | +7.0% |
| Dividend StreakConsecutive years of raises | 1 | 3 |
| Dividend / ShareAnnual DPS | $1.89 | $3.94 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.7% |
Evenly matched — WLKP and MPLX each lead in 1 of 2 comparable metrics.
Key Takeaway
MPLX leads in 2 of 6 categories (Income & Cash Flow, Total Returns). WLKP leads in 2 (Valuation Metrics, Profitability & Efficiency). 2 tied.
Best OverallWestlake Chemical Partners … (WLKP)Leads 2 of 6 categories
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WLKP vs MPLX: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is WLKP or MPLX a better buy right now?
For growth investors, MPLX Lp (MPLX) is the stronger pick with 8.
4% revenue growth year-over-year, versus 2. 7% for Westlake Chemical Partners LP (WLKP). Westlake Chemical Partners LP (WLKP) offers the better valuation at 2. 7x trailing P/E (12. 3x forward), making it the more compelling value choice. Analysts rate MPLX Lp (MPLX) a "Buy" — based on 28 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — WLKP or MPLX?
On trailing P/E, Westlake Chemical Partners LP (WLKP) is the cheapest at 2.
7x versus MPLX Lp at 11. 7x. On forward P/E, Westlake Chemical Partners LP is actually cheaper at 12. 3x.
03Which is the better long-term investment — WLKP or MPLX?
Over the past 5 years, MPLX Lp (MPLX) delivered a total return of +157.
2%, compared to +20. 4% for Westlake Chemical Partners LP (WLKP). Over 10 years, the gap is even starker: MPLX returned +184. 4% versus WLKP's +94. 3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — WLKP or MPLX?
By beta (market sensitivity over 5 years), MPLX Lp (MPLX) is the lower-risk stock at 0.
18β versus Westlake Chemical Partners LP's 0. 26β — meaning WLKP is approximately 43% more volatile than MPLX relative to the S&P 500. On balance sheet safety, Westlake Chemical Partners LP (WLKP) carries a lower debt/equity ratio of 50% versus 180% for MPLX Lp — giving it more financial flexibility in a downturn.
05Which is growing faster — WLKP or MPLX?
By revenue growth (latest reported year), MPLX Lp (MPLX) is pulling ahead at 8.
4% versus 2. 7% for Westlake Chemical Partners LP (WLKP). On earnings-per-share growth, the picture is similar: Westlake Chemical Partners LP grew EPS 378. 5% year-over-year, compared to 14. 5% for MPLX Lp. Over a 3-year CAGR, MPLX leads at 3. 9% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — WLKP or MPLX?
MPLX Lp (MPLX) is the more profitable company, earning 41.
6% net margin versus 25. 6% for Westlake Chemical Partners LP — meaning it keeps 41. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MPLX leads at 40. 3% versus 27. 4% for WLKP. At the gross margin level — before operating expenses — MPLX leads at 45. 2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is WLKP or MPLX more undervalued right now?
On forward earnings alone, Westlake Chemical Partners LP (WLKP) trades at 12.
3x forward P/E versus 12. 7x for MPLX Lp — 0. 4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for WLKP: 25. 0% to $29. 00.
08Which pays a better dividend — WLKP or MPLX?
All stocks in this comparison pay dividends.
Westlake Chemical Partners LP (WLKP) offers the highest yield at 8. 1%, versus 7. 0% for MPLX Lp (MPLX).
09Is WLKP or MPLX better for a retirement portfolio?
For long-horizon retirement investors, MPLX Lp (MPLX) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
18), 7. 0% yield, +184. 4% 10Y return). Both have compounded well over 10 years (MPLX: +184. 4%, WLKP: +94. 3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between WLKP and MPLX?
These companies operate in different sectors (WLKP (Basic Materials) and MPLX (Energy)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(WLKP: 28.6% · MPLX: 5.2%)Net Margin>
%
(WLKP: 15.8% · MPLX: 37.5%)P/E Ratio<
x
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