Western Midstream Partners, LP (WES) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 479.79M | 563.04M | 582.16M | 567.02M | 511.46M | 557.74M | 551.29M | 636.69M | 380.65M | 473.3M | 394.79M | 490.82M | 302.42M | 489.22M | 468.77M | 466.98M | 276.46M | 673.17M | 391.33M | 452.11M |
| Operating CF Margin % | 42.7% | 54.59% | 61.12% | 60.17% | 55.77% | 60.07% | 62.41% | 70.3% | 42.88% | 55.15% | 50.87% | 66.48% | 41.2% | 62.77% | 55.97% | 53.28% | 36.46% | 93.6% | 51.23% | 62.87% |
| Operating CF Growth % | -6.19% | 0.95% | 5.6% | -10.94% | 34.37% | 17.84% | 39.64% | 29.72% | 25.87% | -3.25% | -15.78% | 5.11% | 9.39% | -27.33% | 19.79% | 3.29% | 5.7% | 30.48% | -0.4% | 30.79% |
| Net Income | 342.39M | 1.22B | 331.73M | 333.75M | 316.32M | 325.85M | 295.89M | 369.84M | 586.52M | 295.75M | 284.4M | 259.52M | 208.34M | 345.03M | 273.58M | 315.17M | 317.67M | 238.19M | 263.64M | 238.28M |
| Depreciation & Amortization | 200.43M | 0 | 170.32M | 172.11M | 170.46M | 162.99M | 166.01M | 163.43M | 157.99M | 165.19M | 147.36M | 143.49M | 144.63M | 151.91M | 156.84M | 139.04M | 134.58M | 144.22M | 139M | 137.85M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 8.14M | 0 | 8.76M | 0 | 9.28M | 9.97M | 7.17M | 7.67M | 7.2M | 6.54M | 6.46M | 7.04M | 7.74M | 0 | 6.98M | 7.12M |
| Deferred Taxes | 621K | 0 | 224K | 299K | 1.71M | 33K | 13.92M | 29K | 230K | 90K | 99K | -69K | 924K | 242K | -163K | 788K | 1.13M | -12.04M | 1M | 716K |
| Other Non-Cash Items | 46.23M | -786.13M | 56.48M | 35.39M | 9.96M | 33.59M | 8.61M | -26.53M | -241.33M | 11.84M | -7.45M | -2.97M | 57M | -79.73M | 4.03M | 5.16M | -2.33M | 37.81M | 33.99M | 16.51M |
| Working Capital Changes | -109.87M | 133.62M | 23.4M | 25.46M | 4.87M | 35.27M | 58.1M | 129.91M | -132.04M | -9.53M | -36.79M | 83.19M | -115.67M | 65.22M | 28.02M | -211K | -182.34M | 265M | -53.28M | 51.64M |
| Change in Receivables | -50.23M | 16.85M | 21.96M | -31.43M | -9.49M | -30.2M | 12.68M | 28.44M | -71.87M | -17.77M | -60.61M | 4.08M | -4.04M | 96.66M | 66.88M | -114.7M | -165.13M | 147.14M | -61.61M | -38.98M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 25.07M | 73.77M | 0 | -13.58M | 0 | 0 | 4.12M | 0 | 0 | 0 |
| Change in Payables | -28.32M | 52.51M | -40.84M | 31.04M | 0 | 56.95M | 0 | 13.34M | 0 | 0 | -12.54M | -36.88M | 0 | -7.81M | 0 | 0 | -14.29M | 58.39M | 0 | 0 |
| Cash from Investing | -244.77M | -614.3M | -173.48M | -177.01M | -140.79M | -233.61M | -190.7M | -20.27M | 396.85M | -1.07B | -207.92M | -151.49M | -179.18M | 138.01M | -185.31M | -99.33M | -71.62M | -79.7M | -80.88M | -59.93M |
| Capital Expenditures | -235.73M | 222.21M | -184.76M | -178.62M | -142.4M | -238.33M | -189.43M | -211.86M | -193.79M | -198.65M | -201.86M | -161.48M | -173.09M | -145.72M | -150.15M | -107.39M | -83.97M | -95.92M | -79.83M | -78.14M |
| CapEx % of Revenue | 20.98% | 21.54% | 19.4% | 18.96% | 15.53% | 25.67% | 21.44% | 23.39% | 21.83% | 23.15% | 26.01% | 21.87% | 23.58% | 18.7% | 17.93% | 12.25% | 11.07% | 13.34% | 10.45% | 10.87% |
| Acquisitions | 0 | 0 | 128K | 15K | 0 | 14K | 0 | 206.2M | -443K | -877.75M | -1.02M | -22K | -110K | 158K | -44.88M | -2.97M | -2.07M | 1.96M | -175K | -3.42M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -7.27M | -836.51M | 11.15M | 1.59M | 1.61M | 14.39M | -1.27M | -14.6M | 591.08M | 7.69M | -5.04M | 10.01M | -5.98M | 291.14M | 9.72M | 11.03M | 16.49M | 15.01M | -879K | 21.64M |
| Cash from Financing | -407.02M | 693.47M | -361.13M | -708.72M | -1.01B | -358.4M | 420.03M | -567.55M | -756.22M | 378.7M | 88.67M | -238.03M | -297.26M | -499.67M | -221.8M | -518.47M | -158.59M | -491.33M | -516.16M | -142.98M |
| Debt Issued (Net) | 13.33M | 1.1B | 4.54M | -345.47M | -663.83M | -3.49M | 790.4M | -217.08M | -524.88M | 607.64M | 445.19M | 131.03M | -93.14M | -250M | 370M | -249.54M | -7.09M | -236.39M | -301.88M | -5.27M |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -127.5M | -41K | -7.06M | -40.52M | -367.86M | -74.07M | -5.15M | -113.1M | -88.13M | 0 |
| Dividends Paid | -379.68M | -379.52M | -355.25M | -355.25M | -347.36M | -340.91M | -340.86M | -340.86M | -229.45M | -223.43M | -221.44M | -336.99M | -196.57M | -197.06M | -197.74M | -206.2M | -134.75M | -134.86M | -134.66M | -132.97M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -127.5M | -41K | -7.06M | -40.52M | -367.86M | -74.07M | -5.15M | -113.1M | -88.13M | 0 |
| Other Financing | -40.68M | -27.61M | -10.41M | -7.99M | -1.79M | -13.99M | -29.51M | -9.61M | -1.89M | -5.51M | -7.58M | -32.03M | -489K | -12.09M | -26.2M | 11.34M | -11.61M | -6.98M | 8.51M | -4.74M |
| Net Change in Cash | -172M | 642.2M | 47.56M | -318.71M | -642.31M | -34.27M | 780.62M | 48.87M | 21.28M | -216.71M | 275.54M | 101.31M | -174.01M | 127.56M | 61.66M | -150.81M | 46.25M | 102.14M | -205.71M | 249.2M |
| Free Cash Flow | 244.07M | 340.83M | 397.4M | 388.39M | 369.06M | 319.41M | 361.85M | 424.82M | 186.86M | 274.65M | 192.93M | 329.34M | 129.34M | 343.5M | 318.62M | 359.6M | 192.49M | 577.25M | 311.5M | 373.97M |
| FCF Margin % | 21.72% | 33.04% | 41.72% | 41.22% | 40.24% | 34.4% | 40.96% | 46.91% | 21.05% | 32% | 24.86% | 44.61% | 17.62% | 44.07% | 38.04% | 41.03% | 25.38% | 80.26% | 40.78% | 52% |
| FCF Growth % | -33.87% | 6.71% | 9.82% | -8.58% | 97.51% | 16.3% | 87.56% | 28.99% | 44.48% | -20.04% | -39.45% | -8.41% | -32.81% | -40.49% | 2.28% | -3.84% | -3.64% | 24.11% | -6.65% | 82.03% |
| FCF per Share | 0.61 | 0.85 | 1.04 | 1.02 | 0.96 | 0.83 | 0.95 | 1.11 | 0.49 | 0.72 | 0.50 | 0.85 | 0.34 | 0.89 | 0.82 | 0.89 | 0.48 | 1.41 | 0.75 | 0.90 |
| FCF Conversion (FCF/Net Income) | 1.37x | 3.01x | 1.75x | 1.66x | 1.66x | 1.67x | 1.91x | 1.68x | 0.66x | 1.64x | 1.42x | 1.94x | 1.49x | 1.45x | 1.76x | 1.52x | 0.90x | 2.76x | 1.53x | 1.95x |
| Interest Paid | 0 | 0 | 0 | 0 | 119.91M | 0 | 129.51M | 0 | 130.88M | 48.66M | 0 | 25.13M | 133.25M | 41.17M | 132.4M | 32.5M | 149.29M | 0 | 160.62M | 34.3M |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.86M | 0 | 1K | 1.27M | 7K | 0 | 0 | 905K | 0 | 0 | 0 |