Western Midstream Partners (WES) EBITDA Margin (2012 - 2026)
Western Midstream Partners (WES) reported EBITDA Margin of 57.39% for Q3 2026, down 6.85 percentage points from 64.24% a year earlier and down 2.43 percentage points from the prior quarter.
Western Midstream Partners (WES) EBITDA Margin (2012 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Western Midstream Partners' EBITDA Margin came in at 56.65%, down 7.45 percentage points year-over-year; for FY2025, it came in at 60.16%, down 12.54 percentage points from FY2024.
- EBITDA Margin has a five-year change of +10.75 percentage points (FY2020 to FY2025).
- By year, EBITDA Margin came in at 72.70% in FY2024 (+8.96 pp), 63.75% in FY2023 (-3.00 pp), 66.74% in FY2022 (+1.12 pp) and 65.62% in FY2021 (+16.20 pp).
- Five-year quarterly EBITDA Margin spans a low of 48.81% in Q4 2025 and a high of 94.33% in Q1 2024.
- Year over year, EBITDA Margin has now declined in each of the last four quarters, with an average year-over-year change of -8.39 percentage points over the last eight quarters.
- The high point for year-over-year EBITDA Margin in five years was Q1 2024 (a gain of 35.08 percentage points); the low point was Q1 2025 (a drop of 31.06 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 59.82% (Q2 2026), 59.60% (Q1 2026) and 48.81% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 106.26 Bn | 104.14 Bn | 4.35 Bn | 17.21% |
| 2 | Williams Companies | 86.41 Bn | 89.20 Bn | 2.59 Bn | 54.48% |
| 3 | Enterprise Products Partners | 82.58 Bn | 80.98 Bn | 14.00 Mn | 14.64% |
| 4 | Kinder Morgan | 71.13 Bn | 71.22 Bn | 2.97 Bn | 39.46% |
| 5 | Tc Energy | 67.40 Bn | 71.05 Bn | - | - |
| 6 | Energy Transfer | 66.89 Bn | 62.98 Bn | 6.57 Bn | 11.80% |
| 7 | Targa Resources | 63.77 Bn | 62.98 Bn | 2.02 Bn | 27.89% |
| 8 | Cheniere Energy | 63.04 Bn | 62.60 Bn | 2.97 Bn | 37.39% |
| 9 | Mplx | 58.00 Bn | 52.25 Bn | 3.19 Bn | 51.65% |
| 10 | Western Midstream Partners | 17.45 Bn | 15.97 Bn | 1.07 Bn | 57.39% |
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 57.39% |
| Jun 30, 2026 | 59.82% |
| Mar 31, 2026 | 59.60% |
| Dec 31, 2025 | 48.81% |
| Sep 30, 2025 | 64.24% |
| Jun 30, 2025 | 65.43% |
| Mar 31, 2025 | 63.27% |
| Dec 31, 2024 | 63.41% |
| Sep 30, 2024 | 63.61% |
| Jun 30, 2024 | 69.92% |
| Mar 31, 2024 | 94.33% |
| Dec 31, 2023 | 64.91% |
| Sep 30, 2023 | 65.48% |
| Jun 30, 2023 | 65.04% |
| Mar 31, 2023 | 59.24% |
| Dec 31, 2022 | 74.49% |
| Sep 30, 2022 | 61.35% |
| Jun 30, 2022 | 61.21% |
| Mar 31, 2022 | 71.13% |
| Dec 31, 2021 | 65.34% |
Western Midstream Partners EBITDA Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda-margin&ticker=WES&period=max&api_key=YOUR_API_KEY
import requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "WES", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()
const res = await fetch("https://data.businessquant.com/historic?slug=ebitda-margin&ticker=WES&period=max&api_key=YOUR_API_KEY");
const data = await res.json();