Western Midstream Partners (WES) Return on Invested Capital [ROIC] (2013 - 2026)
Western Midstream Partners' Return on Invested Capital [ROIC] was 13.43% in Q2 2026, down 2.36 percentage points from 15.79% a year earlier but up 0.28 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).
- Quarterly Return on Invested Capital [ROIC] has moved between 12.99% (Q4 2023) and 17.78% (Q2 2024) over five years.
- Compared with a year earlier, Return on Invested Capital [ROIC] has declined for six straight quarters, with an average year-over-year change of -0.52 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Invested Capital [ROIC] over five years was Q3 2021 (a gain of 5.56 percentage points); the worst was Q4 2025 (a drop of 3.51 percentage points).
- Per Business Quant data, WES's Return on Invested Capital [ROIC] in the three quarters before Q2 2026 was 13.15% (Q1 2026), 13.71% (Q4 2025) and 16.67% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 105.12 Bn | 102.66 Bn | 4.84 Bn | 5.02% |
| 2 | Williams Companies | 87.68 Bn | 86.39 Bn | 2.54 Bn | - |
| 3 | Enterprise Products Partners | 80.07 Bn | 78.51 Bn | - | 12.19% |
| 4 | Kinder Morgan | 76.72 Bn | 76.81 Bn | 2.97 Bn | 6.34% |
| 5 | Energy Transfer | 70.38 Bn | 63.82 Bn | 7.40 Bn | 8.40% |
| 6 | Tc Energy | 64.93 Bn | 67.85 Bn | 2.81 Bn | 27.94% |
| 7 | Targa Resources | 64.84 Bn | 64.46 Bn | 2.14 Bn | 13.19% |
| 8 | Cheniere Energy | 61.75 Bn | 61.88 Bn | 5.29 Bn | 15.54% |
| 9 | Oneok | 60.41 Bn | 58.90 Bn | 2.81 Bn | 8.35% |
| 10 | Western Midstream Partners | 18.63 Bn | 16.88 Bn | 1.11 Bn | 13.43% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| 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% |
| Sep 30, 2021 | 13.28% |
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();