Western Midstream Partners (WES) Return on Invested Capital [ROIC] (2013 - 2026)
Western Midstream Partners' Return on Invested Capital [ROIC] was 12.86% in Q3 2026, down 3.81 percentage points from 16.67% a year earlier and down 0.58 percentage points from the prior quarter.
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Analysis
Western Midstream Partners (WES) Return on Invested Capital [ROIC] (2013 - 2026) Analysis & Trends
For FY2025, Return on Invested Capital [ROIC] at Western Midstream Partners came in at 13.12%, down 4.41 percentage points from FY2024.
- Return on Invested Capital [ROIC] shows a five-year change of +5.24 percentage points (FY2020 to FY2025).
- In earlier years, Return on Invested Capital [ROIC] was 17.52% in FY2024 (+4.33 pp), 13.19% in FY2023 (-2.71 pp), 15.91% in FY2022 (+3.03 pp) and 12.88% in FY2021 (+5.00 pp).
- The Q3 2026 figure marks the lowest quarterly Return on Invested Capital [ROIC] since Q2 2021.
- Compared with a year earlier, Return on Invested Capital [ROIC] has declined for seven straight quarters, with an average year-over-year change of -1.42 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Invested Capital [ROIC] over five years was Q4 2021 (a gain of 5.10 percentage points); the worst was Q3 2026 (a drop of 3.81 percentage points).
- Per Business Quant data, WES's Return on Invested Capital [ROIC] in the three quarters before Q3 2026 was 13.43% (Q2 2026), 13.15% (Q1 2026) and 13.71% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 106.26 Bn | 104.14 Bn | 4.35 Bn | 4.91% |
| 2 | Williams Companies | 86.41 Bn | 89.20 Bn | 2.59 Bn | 16.19% |
| 3 | Enterprise Products Partners | 82.58 Bn | 80.98 Bn | 14.00 Mn | 12.57% |
| 4 | Kinder Morgan | 71.13 Bn | 71.22 Bn | 2.97 Bn | 6.34% |
| 5 | Tc Energy | 67.40 Bn | 71.05 Bn | - | 10.22% |
| 6 | Energy Transfer | 66.89 Bn | 62.98 Bn | 6.57 Bn | 8.84% |
| 7 | Targa Resources | 63.77 Bn | 62.98 Bn | 2.02 Bn | 13.71% |
| 8 | Cheniere Energy | 63.04 Bn | 62.60 Bn | 2.97 Bn | 15.49% |
| 9 | Mplx | 58.00 Bn | 52.25 Bn | 3.19 Bn | 13.59% |
| 10 | Western Midstream Partners | 17.45 Bn | 15.97 Bn | 1.07 Bn | 12.86% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 12.86% |
| Jun 30, 2026 | 13.43% |
| Mar 31, 2026 | 13.15% |
| Dec 31, 2025 | 13.71% |
| Sep 30, 2025 | 16.67% |
| Jun 30, 2025 | 15.79% |
| Mar 31, 2025 | 15.29% |
| Dec 31, 2024 | 17.23% |
| Sep 30, 2024 | 17.49% |
| Jun 30, 2024 | 17.78% |
| Mar 31, 2024 | 16.26% |
| Dec 31, 2023 | 12.99% |
| Sep 30, 2023 | 14.07% |
| Jun 30, 2023 | 14.34% |
| Mar 31, 2023 | 14.91% |
| Dec 31, 2022 | 15.88% |
| Sep 30, 2022 | 14.85% |
| Jun 30, 2022 | 15.01% |
| Mar 31, 2022 | 14.36% |
| Dec 31, 2021 | 13.21% |
API Access
Western Midstream Partners Return on Invested Capital [ROIC] 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-invested-capital-%5Broic%5D&ticker=WES&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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-invested-capital-%5Broic%5D&ticker=WES&period=max&api_key=YOUR_API_KEY");
const data = await res.json();