Western Midstream Partners (WES) Return on Capital Employed [ROCE] (2013 - 2026)
Western Midstream Partners' Return on Capital Employed [ROCE] was 11.81% in Q3 2026, down 3.13 percentage points from 14.94% a year earlier and down 0.31 percentage points from the prior quarter.
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Analysis
Western Midstream Partners (WES) Return on Capital Employed [ROCE] (2013 - 2026) Analysis & Trends
For FY2025, Return on Capital Employed [ROCE] at Western Midstream Partners came in at 12.48%, down 5.23 percentage points from FY2024.
- Return on Capital Employed [ROCE] shows a five-year change of +4.58 percentage points (FY2020 to FY2025).
- In earlier years, Return on Capital Employed [ROCE] was 17.71% in FY2024 (+4.67 pp), 13.04% in FY2023 (-2.28 pp), 15.31% in FY2022 (+2.48 pp) and 12.83% in FY2021 (+4.94 pp).
- The Q3 2026 figure marks the lowest quarterly Return on Capital Employed [ROCE] since Q4 2020.
- Compared with a year earlier, Return on Capital Employed [ROCE] has declined for seven straight quarters, with an average year-over-year change of -1.61 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Capital Employed [ROCE] over five years was Q4 2021 (a gain of 4.95 percentage points); the worst was Q4 2025 (a drop of 4.34 percentage points).
- Per Business Quant data, WES's Return on Capital Employed [ROCE] in the three quarters before Q3 2026 was 12.13% (Q2 2026), 12.25% (Q1 2026) and 12.99% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 106.26 Bn | 104.14 Bn | 4.35 Bn | 5.39% |
| 2 | Williams Companies | 86.41 Bn | 89.20 Bn | 2.59 Bn | 7.90% |
| 3 | Enterprise Products Partners | 82.58 Bn | 80.98 Bn | 14.00 Mn | 12.76% |
| 4 | Kinder Morgan | 71.13 Bn | 71.22 Bn | 2.97 Bn | 7.64% |
| 5 | Tc Energy | 67.40 Bn | 71.05 Bn | - | - |
| 6 | Energy Transfer | 66.89 Bn | 62.98 Bn | 6.57 Bn | 8.92% |
| 7 | Targa Resources | 63.77 Bn | 62.98 Bn | 2.02 Bn | 16.29% |
| 8 | Cheniere Energy | 63.04 Bn | 62.60 Bn | 2.97 Bn | 15.11% |
| 9 | Mplx | 58.00 Bn | 52.25 Bn | 3.19 Bn | 13.41% |
| 10 | Western Midstream Partners | 17.45 Bn | 15.97 Bn | 1.07 Bn | 11.81% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 11.81% |
| Jun 30, 2026 | 12.13% |
| Mar 31, 2026 | 12.25% |
| Dec 31, 2025 | 12.99% |
| Sep 30, 2025 | 14.94% |
| Jun 30, 2025 | 14.38% |
| Mar 31, 2025 | 14.40% |
| Dec 31, 2024 | 17.33% |
| Sep 30, 2024 | 17.71% |
| Jun 30, 2024 | 16.41% |
| Mar 31, 2024 | 15.15% |
| Dec 31, 2023 | 12.82% |
| Sep 30, 2023 | 13.13% |
| Jun 30, 2023 | 13.40% |
| Mar 31, 2023 | 13.88% |
| Dec 31, 2022 | 15.17% |
| Sep 30, 2022 | 13.90% |
| Jun 30, 2022 | 14.17% |
| Mar 31, 2022 | 14.46% |
| Dec 31, 2021 | 13.09% |
API Access
Western Midstream Partners Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=WES&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=WES&period=max&api_key=YOUR_API_KEY");
const data = await res.json();