WES's revenue expanded from roughly $917M in 2025Q1 to about $1.2B in 2026Q3, with 25.4% year-over-year growth in the latest quarter, suggesting acquisition-aided volume gains are driving the top line.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue climbed to about $1.2B in 2026Q3 while gross margin fell from roughly 76.9% in 2025Q1 to 65.4%, and operating margin slipped from 44.7% to 38.6%, suggesting cost growth is outpacing the top line.
Western Midstream offers a ~9.2% yield that appears sustainable with potential for growth, making it attractive for income-focused investors.
Despite trading flat for two years, the company's underlying fundamentals have shown improvement, suggesting potential for future performance.
Analysts suggest the stock may be undervalued with a consensus target price implying a +4.2% upside, supported by DCF valuation analysis.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Nov 4, 2026 | $0.78-14.8% vs $0.92 | $1.2B+0.6% vs $1.2B |
Q3 2026 Aug 5, 2026 | $0.99+9.2% vs $0.91 | $1.2B+8.6% vs $1.1B |
Q2 2026 May 6, 2026 | $0.85+14.6% vs $0.74 | $1.1B+11.0% vs $1.0B |
Q1 2026 Feb 18, 2026 | $0.47-44.4% vs $0.84 | $1.0B+0.2% vs $1.0B |
Most retirees aren't trying to beat the market. They want reliable monthly income that pays the bills without causing sleepless nights. The catch is that high yield and peace of mind tend to pull in opposite directions, and many tempting high-yielders have let investors down. The way out is a deliberate compromise: give up big growth in return for income you can count on and stable capital.
Western Midstream Partners, LP Common Units ( WES ) Q3 2026 Earnings Call November 5, 2026 10:00 AM EST Company Participants Daniel Jenkins - Director of Investor Relations - Western Midstream Holdings LLC Oscar Brown - President, CEO & Director - Western Midstream Holdings LLC Daniel Holderman - Senior VP & COO of Western Midstream Holdings, LLC Kristen Shults - Senior VP & CFO - Western Midstream Holdings LLC Conference Call Participants Keith Stanley - Wolfe Research, LLC Vrathan Reddy - JPMorgan Chase & Co, Research Division Spiro Dounis - Citigroup Inc., Research Division Zackery Van Everen - TPH Research Ned Baramov - Wells Fargo Securities, LLC, Research Division Gabriel Moreen - Mizuho Securities USA LLC, Research Division Presentation Operator Good morning. My name is Morgan, and I will be your conference operator today.
While the top- and bottom-line numbers for Western Midstream (WES) give a sense of how the business performed in the quarter ended September 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Western Midstream Partners, LP (WES) has more than doubled over five years, leveraging new opportunities in water, oil, and gas with an 8.5% distribution yield. WES delivered 8% QoQ adjusted EBITDA growth, robust throughput expansion, and strong margins across natural gas, crude oil, NGLs, and produced water. Guidance was raised by $250M in adjusted EBITDA and $200M in DCF, supporting a ~7% FCF yield after capex and mid single-digit growth.
Benchmark WES against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Western Midstream Partners, LP (WES)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $39.85 | $16.46B | 13.07 | 6.61% | 27.66% | 30.82% | 8.92% | |
| $37.03 | $80.12B | 12.25 | -6.44% | 10.24% | 21.41% | 5.77% | |
| $20.16 | $69.37B | 11.74 | -0.05% | 4.9% | 11.91% | 6.42% | |
| $55.91 | $56.73B | 13.01 | 8.37% | 33.83% | 30.37% | 7.05% | |
| $23.92 | $16.88B | 6.29 | -11.61% | 4.81% | 20.34% | 6.35% | |
| $29.96 | $6.19B | 10.21 | 8.4% | 23.53% | 93.86% | 9.5% |
Western Midstream Partners, LP (WES) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Western Midstream Partners, LP (WES) SEC filings — annual & quarterly reports (10-K, 10-Q)
Nov 4, 2026·SEC
Aug 5, 2026·SEC
Jun 25, 2026·SEC
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Western Midstream Partners, LP (WES) stock FAQ — growth, dividends, profitability & financials explained
Western Midstream Partners, LP (WES) reported $4.57B in revenue over the trailing twelve months. Revenue was $3.84B in fiscal year 2025. That is 457% more than the $689.5M of fiscal year 2008.
Western Midstream Partners, LP (WES) grew revenue by 22.3% over the trailing twelve months, compared with the twelve months before.
Yes. Western Midstream Partners, LP (WES) earned $1.27B in net income over the trailing twelve months (a 27.7% net margin).
Yes. Western Midstream Partners, LP (WES) pays a dividend that yields 8.92% at the current price, a high yield.
Western Midstream Partners, LP (WES) had a return on equity (ROE) of 30.8% over the trailing twelve months. That is well above the market's typical 10-15%.
Western Midstream Partners, LP (WES) generated $1.10B in free cash flow over the trailing twelve months.
