Western Midstream Partners, LP (WES) P/E Ratio History
Historical price-to-earnings valuation from 2013 to 2025
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WES Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Western Midstream Partners, LP (WES) trades at a price-to-earnings ratio of 13.6x, with a stock price of $41.25 and trailing twelve-month earnings per share of $2.93.
The current P/E is 33% above its 5-year average of 10.2x. Over the past five years, WES's P/E has ranged from a low of 8.4x to a high of 13.0x, placing the current valuation at the 100th percentile of its historical range.
Compared to the Energy sector median P/E of 16.8x, WES trades at a 19% discount to its sector peers. The sector includes 173 companies with P/E ratios ranging from 3.2x to 190.3x.
The PEG ratio of 0.65 (P/E divided by -24% EPS growth) suggests the stock may be undervalued relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, WES trades at a notable discount to the S&P 500 median P/E of 25.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our WES DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
WES P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $81B | 14.1 | 1.53 | -1% | |
| $68B | 14.7 | - | +5% | |
| $57B | 11.5Lowest | - | +14% | |
| $16B | 30.4 | - | -48% | |
| $8B | 13.4 | 0.79 | +15% | |
| $70B | 23.1 | 0.24Best | +17% | |
| $90B | 34.5 | 0.52 | +18% | |
| $54B | 15.8 | 0.51 | +5% | |
| $54B | 29.3 | - | +48%Best | |
| $10B | 24.6 | - | +4% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
WES Historical P/E Data (2013–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $39.50 | $3.04 | 13.0x | -56% |
| FY2025 Q3 | $39.29 | $3.38 | 11.6x | -61% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $38.70 | $3.25 | 11.9x | -60% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $40.96 | $3.35 | 12.2x | -59% |
| FY2024 Q4 | $38.43 | $4.03 | 9.5x | -68% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $38.26 | $3.92 | 9.8x | -67% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $39.73 | $3.88 | 10.2x | -66% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $35.55 | $3.55 | 10.0x | -66% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $29.26 | $2.60 | 11.3x | -62% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $27.23 | $2.71 | 10.0x | -66% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $26.52 | $2.67 | 9.9x | -67% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $26.37 | $2.77 | 9.5x | -68% |
Average P/E for displayed period: 29.7x
Full WES Stock Analysis
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Start ComparisonWES — Frequently Asked Questions
Quick answers to the most common questions about buying WES stock.
Is WES stock overvalued or undervalued?
WES trades at 13.6x P/E, above its 5-year average of 10.2x. The 100th percentile ranking indicates a premium to historical valuation.
How does WES's valuation compare to peers?
Western Midstream Partners, LP P/E of 13.6x compares to sector median of 16.8x. The discount suggests lower growth expectations or higher risk.
What is WES's PEG ratio?
WES PEG ratio is 0.65. Below 1.0 indicates valuation is supported by earnings growth rate. Historical P/E data spans 2013-2025.