Western Midstream Partners (WES) Gross Margin (2012 - 2026)
Western Midstream Partners' Gross Margin came in at 89.81% for Q3 2026, down 4.82 percentage points from 94.63% a year earlier and down 0.60 percentage points from the prior quarter.
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Analysis
Western Midstream Partners (WES) Gross Margin (2012 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Western Midstream Partners reported Gross Margin of 90.96%, down 4.37 percentage points year-over-year; for FY2025, it came in at 94.61%, down 0.61 percentage points from FY2024.
- Gross Margin carries a five-year change of +1.40 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 95.22% in FY2024 (+0.52 pp), 94.70% in FY2023 (+7.65 pp), 87.06% in FY2022 (-1.74 pp) and 88.80% in FY2021 (-4.42 pp).
- The Q3 2026 figure represents the lowest quarterly Gross Margin since Q4 2022.
- Year-over-year, Gross Margin has declined for five consecutive quarters, with an average year-over-year change of -2.03 percentage points over the last eight quarters.
- The fastest year-over-year change in Gross Margin over five years came in Q2 2023 (a gain of 10.89 percentage points), and the weakest in Q2 2022 (a drop of 6.10 percentage points).
- Business Quant data shows WES's Gross Margin at 90.41% (Q2 2026), 90.84% (Q1 2026) and 93.06% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 106.26 Bn | 104.14 Bn | 4.35 Bn | 28.91% |
| 2 | Williams Companies | 86.41 Bn | 89.20 Bn | 2.59 Bn | 80.39% |
| 3 | Enterprise Products Partners | 82.58 Bn | 80.98 Bn | 14.00 Mn | 0.08% |
| 4 | Kinder Morgan | 71.13 Bn | 71.22 Bn | 2.97 Bn | 65.44% |
| 5 | Tc Energy | 67.40 Bn | 71.05 Bn | - | - |
| 6 | Energy Transfer | 66.89 Bn | 62.98 Bn | 6.57 Bn | 17.71% |
| 7 | Targa Resources | 63.77 Bn | 62.98 Bn | 2.02 Bn | 36.08% |
| 8 | Cheniere Energy | 63.04 Bn | 62.60 Bn | 2.97 Bn | 48.05% |
| 9 | Mplx | 58.00 Bn | 52.25 Bn | 3.19 Bn | 88.60% |
| 10 | Western Midstream Partners | 17.45 Bn | 15.97 Bn | 1.07 Bn | 89.81% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 89.81% |
| Jun 30, 2026 | 90.41% |
| Mar 31, 2026 | 90.84% |
| Dec 31, 2025 | 93.06% |
| Sep 30, 2025 | 94.63% |
| Jun 30, 2025 | 95.47% |
| Mar 31, 2025 | 95.48% |
| Dec 31, 2024 | 95.77% |
| Sep 30, 2024 | 96.28% |
| Jun 30, 2024 | 94.04% |
| Mar 31, 2024 | 94.81% |
| Dec 31, 2023 | 95.25% |
| Sep 30, 2023 | 96.44% |
| Jun 30, 2023 | 93.94% |
| Mar 31, 2023 | 92.99% |
| Dec 31, 2022 | 88.11% |
| Sep 30, 2022 | 87.24% |
| Jun 30, 2022 | 83.05% |
| Mar 31, 2022 | 90.39% |
| Dec 31, 2021 | 89.98% |
API Access
Western Midstream Partners Gross 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=gross-margin&ticker=WES&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-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=gross-margin&ticker=WES&period=max&api_key=YOUR_API_KEY");
const data = await res.json();