Western Midstream Partners, LP (WES) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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WES Revenue Growth
Revenue Breakdown (FY 2025)
WES's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
WES Revenue Analysis (2014–2025)
As of May 8, 2026, Western Midstream Partners, LP (WES) generated trailing twelve-month (TTM) revenue of $4.05 billion, reflecting exceptional growth of +22.5% year-over-year. The most recent quarter (Q1 2026) recorded $1.12 billion in revenue, up 8.9% sequentially.
Looking at the longer-term picture, WES's 5-year compound annual growth rate (CAGR) stands at +6.7%, indicating steady revenue expansion. The company achieved its highest annual revenue of $3.84 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows WES's business is primarily driven by Service Fee Based (90%), Product (5%), and Service Product Based (5%). With over half of revenue concentrated in Service Fee Based, the company maintains significant focus in this area while developing other growth vectors.
When compared to Energy sector peers including EPD (-6.4% YoY), ET (+8.9% YoY), and MPLX (+12.1% YoY), WES has outperformed the peer group in terms of revenue growth. Compare WES vs EPD →
WES Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| WESCurrent | $4.0B | +22.5% | +6.7% | 41.3% | |
 EPD | $52.6B | -6.4% | +14.1% | 13.1% | |
 ET | $82.6B | +8.9% | +16.2% | 11.4% | |
 MPLX | $11.8B | +12.1% | +7.1% | 40.3% | |
 PAA | $50.1B | -11.3% | +8.3% | 2.4% | |
 HESM | $1.6B | +8.6% | +8.2% | 62.2% |
WES Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $3.84B | +6.6% | $2.63B | 68.5% | $1.59B | 41.3% |
| 2024 | $3.61B | +16.1% | $2.78B | 77.2% | $1.97B | 54.7% |
| 2023 | $3.11B | -4.5% | $2.34B | 75.4% | $1.38B | 44.4% |
| 2022 | $3.25B | +13.0% | $2.25B | 69.1% | $1.59B | 48.8% |
| 2021 | $2.88B | +3.8% | $2.00B | 69.6% | $1.34B | 46.4% |
| 2020 | $2.77B | +1.0% | $2.09B | 75.5% | $878.9M | 31.7% |
| 2019 | $2.75B | +38.0% | $1.82B | 66.2% | $1.23B | 44.8% |
| 2018 | $1.99B | -11.5% | $1.22B | 61.3% | $625.4M | 31.4% |
| 2017 | $2.25B | +24.6% | $1.05B | 46.6% | $704.4M | 31.3% |
| 2016 | $1.80B | +15.6% | $1.04B | 57.5% | $704.5M | 39.0% |
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's revenue growth accelerating or slowing?
WES revenue is accelerating at +22.5% year-over-year, exceeding the 5-year CAGR of +6.7%. TTM revenue reached $4.0B. Growth momentum has increased versus prior periods.
What is WES's long-term revenue growth rate?
Western Midstream Partners, LP's 5-year revenue CAGR of +6.7% reflects the sustained expansion pattern. Current YoY growth of +22.5% is above this long-term average.
How is WES's revenue distributed by segment?
WES reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.