Western Midstream Partners (WES) FCF Margin (2012 - 2026)
Western Midstream Partners' FCF Margin came in at 22.21% for Q3 2026, down 18.26 percentage points from 40.47% a year earlier but up 0.62 percentage points from the prior quarter.
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Analysis
Western Midstream Partners (WES) FCF Margin (2012 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Western Midstream Partners reported FCF Margin of 24.03%, down 15.40 percentage points year-over-year; for FY2025, it came in at 38.89%, up 2.75 percentage points from FY2024.
- FCF Margin carries a five-year change of -4.89 percentage points (FY2020 to FY2025).
- Going back by year, FCF Margin was 36.14% in FY2024 (+6.32 pp), 29.82% in FY2023 (-7.52 pp), 37.34% in FY2022 (-13.17 pp) and 50.51% in FY2021 (+6.73 pp).
- The five-year range for quarterly FCF Margin is 17.62% (Q1 2023) to 78.97% (Q4 2021).
- Year-over-year, FCF Margin has declined for six consecutive quarters, with an average year-over-year change of -5.67 percentage points over the last eight quarters.
- The fastest year-over-year change in FCF Margin over five years came in Q1 2025 (a gain of 19.15 percentage points), and the weakest in Q4 2022 (a drop of 34.90 percentage points).
- Business Quant data shows WES's FCF Margin at 21.59% (Q2 2026), 20.84% (Q1 2026) and 32.52% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 106.26 Bn | 104.14 Bn | 4.35 Bn | -3.51% |
| 2 | Williams Companies | 86.41 Bn | 89.20 Bn | 2.59 Bn | -30.53% |
| 3 | Enterprise Products Partners | 82.58 Bn | 80.98 Bn | 14.00 Mn | 6.28% |
| 4 | Kinder Morgan | 71.13 Bn | 71.22 Bn | 2.97 Bn | 12.03% |
| 5 | Tc Energy | 67.40 Bn | 71.05 Bn | - | - |
| 6 | Energy Transfer | 66.89 Bn | 62.98 Bn | 6.57 Bn | 5.76% |
| 7 | Targa Resources | 63.77 Bn | 62.98 Bn | 2.02 Bn | 2.15% |
| 8 | Cheniere Energy | 63.04 Bn | 62.60 Bn | 2.97 Bn | 28.09% |
| 9 | Mplx | 58.00 Bn | 52.25 Bn | 3.19 Bn | 18.92% |
| 10 | Western Midstream Partners | 17.45 Bn | 15.97 Bn | 1.07 Bn | 22.21% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 22.21% |
| Jun 30, 2026 | 21.59% |
| Mar 31, 2026 | 20.84% |
| Dec 31, 2025 | 32.52% |
| Sep 30, 2025 | 40.47% |
| Jun 30, 2025 | 40.89% |
| Mar 31, 2025 | 42.35% |
| Dec 31, 2024 | 34.00% |
| Sep 30, 2024 | 40.97% |
| Jun 30, 2024 | 46.32% |
| Mar 31, 2024 | 23.19% |
| Dec 31, 2023 | 32.00% |
| Sep 30, 2023 | 24.86% |
| Jun 30, 2023 | 44.61% |
| Mar 31, 2023 | 17.62% |
| Dec 31, 2022 | 44.07% |
| Sep 30, 2022 | 38.04% |
| Jun 30, 2022 | 41.03% |
| Mar 31, 2022 | 25.38% |
| Dec 31, 2021 | 78.97% |
API Access
Western Midstream Partners FCF 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=fcf-margin&ticker=WES&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-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=fcf-margin&ticker=WES&period=max&api_key=YOUR_API_KEY");
const data = await res.json();