Westlake Chem Partners Lp Financials

WLKP

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 73/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Westlake Chem Partners Lp has an operating margin of 34.4%, meaning the company retains $34 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 30.0% the prior year.

Growth

Westlake Chem Partners Lp's revenue declined 4.6% year-over-year, from $1.2B to $1.1B. This contraction results in a growth score of 15/100.

Leverage

Westlake Chem Partners Lp carries a low D/E ratio of 0.55, meaning only $0.55 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 4.35, Westlake Chem Partners Lp holds $4.35 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

100

Westlake Chem Partners Lp converts 38.4% of revenue into free cash flow ($436.0M). This strong cash generation earns a score of 100/100.

Returns

Westlake Chem Partners Lp's ROE of 7.5% shows moderate profitability relative to equity, earning a score of 30/100. This is up from 6.3% the prior year.

Piotroski F-Score Neutral

6/9

Westlake Chem Partners Lp passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

7.77x

For every $1 of reported earnings, Westlake Chem Partners Lp generates $7.77 in operating cash flow ($485.0M OCF vs $62.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

15.2x

Westlake Chem Partners Lp earns $15.2 in operating income for every $1 of interest expense ($390.4M vs $25.7M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

This page shows Westlake Chem Partners Lp (WLKP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$1.1B

YoY-4.6%

5Y CAGR+0.8%

10Y CAGR-4.2%

Westlake Chem Partners Lp generated $1.1B in revenue in fiscal year 2024. This represents a decrease of 4.6% from the prior year.

EBITDA

$502.3M

YoY+7.4%

5Y CAGR+1.9%

10Y CAGR-4.5%

Westlake Chem Partners Lp's EBITDA was $502.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 7.4% from the prior year.

Free Cash Flow

$436.0M

YoY+7.6%

5Y CAGR+1.4%

10Y CAGR+0.8%

Westlake Chem Partners Lp generated $436.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 7.6% from the prior year.

Net Income

$62.4M

YoY+14.9%

5Y CAGR+0.5%

10Y CAGR+16.5%

Westlake Chem Partners Lp reported $62.4M in net income in fiscal year 2024. This represents an increase of 14.9% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$58.3M

YoY-0.5%

5Y CAGR+24.0%

10Y CAGR-8.0%

Westlake Chem Partners Lp held $58.3M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

36.9%

YoY+4.3pp

5Y CAGR+2.1pp

10Y CAGR-5.8pp

Westlake Chem Partners Lp's gross margin was 36.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 4.3 percentage points from the prior year.

Operating Margin

34.4%

YoY+4.3pp

5Y CAGR+2.3pp

10Y CAGR-6.6pp

Westlake Chem Partners Lp's operating margin was 34.4% in fiscal year 2024, reflecting core business profitability. This is up 4.3 percentage points from the prior year.

Net Margin

5.5%

YoY+0.9pp

5Y CAGR-0.1pp

10Y CAGR+4.7pp

Westlake Chem Partners Lp's net profit margin was 5.5% in fiscal year 2024, showing the share of revenue converted to profit. This is up 0.9 percentage points from the prior year.

Return on Equity

7.5%

YoY+1.2pp

5Y CAGR+1.1pp

10Y CAGR+5.9pp

Westlake Chem Partners Lp's ROE was 7.5% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 1.2 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$49.0M

YoY+4.6%

5Y CAGR+2.3%

10Y CAGR-13.2%

Westlake Chem Partners Lp invested $49.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 4.6% from the prior year.

WLKP Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$1.1B-4.6%	$1.2B-25.3%	$1.6B+31.1%	$1.2B+25.7%	$966.7M-11.5%	$1.1B
Cost of Revenue	$717.0M-10.8%	$803.3M-33.9%	$1.2B+57.3%	$773.2M+31.5%	$587.8M-17.5%	$712.4M
Gross Profit	$418.9M+8.1%	$387.5M+2.7%	$377.4M-14.6%	$441.7M+16.6%	$378.9M-0.1%	$379.4M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$28.5M-4.2%	$29.8M+0.2%	$29.7M-4.3%	$31.0M+19.8%	$25.9M-11.6%	$29.3M
Operating Income	$390.4M+9.2%	$357.7M+2.9%	$347.7M-15.3%	$410.7M+16.3%	$353.0M+0.8%	$350.1M
Interest Expense	$25.7M-3.0%	$26.5M+97.7%	$13.4M	N/A	N/A	N/A
Income Tax	$835K+2.7%	$813K-20.1%	$1.0M+85.2%	$549K-2.7%	$564K-22.5%	$728K
Net Income	$62.4M+14.9%	$54.3M-15.4%	$64.2M-22.3%	$82.5M+24.8%	$66.2M+8.5%	$61.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$308.9M+4.0%	$297.1M+25.0%	$237.6M-18.1%	$290.1M+2.1%	$284.2M-0.2%	$284.7M-4.2%	$297.3M-7.6%	$321.7M
Cost of Revenue	$209.5M+5.0%	$199.6M+8.7%	$183.5M-4.1%	$191.5M+4.7%	$182.9M+0.2%	$182.5M-7.2%	$196.6M-14.0%	$228.7M
Gross Profit	$99.4M+1.9%	$97.5M+80.3%	$54.1M-45.1%	$98.6M-2.6%	$101.2M-0.9%	$102.2M+1.5%	$100.7M+8.3%	$93.0M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$7.4M+18.2%	$6.3M-15.7%	$7.5M+14.0%	$6.6M-13.8%	$7.6M+7.5%	$7.1M-10.0%	$7.9M+16.7%	$6.7M
Operating Income	$92.0M+0.8%	$91.2M+95.7%	$46.6M-49.4%	$92.0M-1.7%	$93.6M-1.6%	$95.1M+2.5%	$92.8M+7.6%	$86.2M
Interest Expense	$5.9M+0.7%	$5.9M+6.7%	$5.5M-4.1%	$5.8M-13.2%	$6.7M+1.1%	$6.6M	N/A	N/A
Income Tax	$42K-79.5%	$205K+91.6%	$107K-47.0%	$202K-2.4%	$207K-1.4%	$210K+1.9%	$206K-7.2%	$222K
Net Income	$14.7M+0.7%	$14.6M+194.2%	$4.9M-67.0%	$15.0M+3.9%	$14.4M-2.7%	$14.8M+3.7%	$14.3M+8.3%	$13.2M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WLKP Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$1.3B-2.2%	$1.3B-4.0%	$1.4B-7.3%	$1.5B+9.2%	$1.4B-2.7%	$1.4B
Current Assets	$240.9M+6.5%	$226.2M-8.0%	$245.8M-12.6%	$281.2M+6.8%	$263.3M+10.4%	$238.4M
Cash & Equivalents	$58.3M-0.5%	$58.6M-9.5%	$64.8M+279.8%	$17.1M-0.6%	$17.2M-13.9%	$19.9M
Inventory	$4.1M-8.4%	$4.4M-6.0%	$4.7M-47.0%	$8.9M+156.1%	$3.5M+39.9%	$2.5M
Accounts Receivable	N/A	N/A	$20.0M+243.9%	$5.8M-47.2%	$11.0M+11.2%	$9.9M
Goodwill	$5.8M0.0%	$5.8M0.0%	$5.8M0.0%	$5.8M0.0%	$5.8M0.0%	$5.8M
Total Liabilities	$458.6M-0.4%	$460.6M-1.6%	$468.3M-7.8%	$508.0M+15.1%	$441.4M0.0%	$441.3M
Current Liabilities	$55.4M-1.7%	$56.3M-15.8%	$66.9M-37.3%	$106.8M+168.6%	$39.8M+2.3%	$38.8M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$829.3M-3.1%	$856.3M-5.3%	$903.7M-7.1%	$972.7M+6.3%	$915.1M-3.9%	$952.1M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$1.3B-2.7%	$1.3B-4.7%	$1.4B+6.5%	$1.3B0.0%	$1.3B-0.5%	$1.3B-1.7%	$1.3B-1.8%	$1.3B
Current Assets	$130.9M-16.4%	$156.5M-30.5%	$225.2M-6.5%	$240.9M+3.8%	$232.1M+3.5%	$224.3M-0.8%	$226.2M-2.3%	$231.5M
Cash & Equivalents	$37.9M+3.7%	$36.6M-26.3%	$49.6M-14.9%	$58.3M-11.6%	$66.0M+18.4%	$55.8M-4.9%	$58.6M-11.0%	$65.9M
Inventory	$3.1M-5.6%	$3.3M+19.3%	$2.7M-32.7%	$4.1M-9.6%	$4.5M-7.7%	$4.9M+9.7%	$4.4M+0.9%	$4.4M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$5.8M0.0%	$5.8M0.0%	$5.8M0.0%	$5.8M0.0%	$5.8M0.0%	$5.8M0.0%	$5.8M0.0%	$5.8M
Total Liabilities	$458.3M-3.7%	$476.0M-16.2%	$568.2M+23.9%	$458.6M+1.1%	$453.5M+1.5%	$446.8M-3.0%	$460.6M-4.1%	$480.2M
Current Liabilities	$55.1M-24.4%	$72.9M-55.8%	$164.8M+197.7%	$55.4M+11.6%	$49.6M+15.1%	$43.1M-23.5%	$56.3M-25.5%	$75.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$813.3M-2.1%	$831.2M+3.5%	$803.1M-3.2%	$829.3M-0.7%	$834.8M-1.6%	$848.2M-0.9%	$856.3M-0.6%	$861.3M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WLKP Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$485.0M+7.3%	$452.0M-2.5%	$463.7M+13.5%	$408.4M+9.4%	$373.4M-17.2%	$450.8M
Capital Expenditures	$49.0M+4.6%	$46.8M-13.5%	$54.1M-33.3%	$81.2M+119.6%	$37.0M-15.4%	$43.7M
Free Cash Flow	$436.0M+7.6%	$405.2M-1.1%	$409.6M+25.2%	$327.3M-2.7%	$336.4M-17.4%	$407.1M
Investing Cash Flow	-$89.0M-17.2%	-$75.9M-532.7%	-$12.0M+81.3%	-$64.3M-3264.4%	$2.0M+103.5%	-$57.7M
Financing Cash Flow	-$396.3M-3.7%	-$382.2M+5.4%	-$404.0M-17.4%	-$344.2M+9.0%	-$378.2M+3.7%	-$392.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$105.2M+1060.2%	$9.1M-80.2%	$45.8M-65.4%	$132.5M+8.7%	$121.9M+16.6%	$104.6M-2.9%	$107.7M+6.7%	$100.9M
Capital Expenditures	$29.7M+21.6%	$24.4M+52.8%	$16.0M+18.4%	$13.5M+32.4%	$10.2M+4.1%	$9.8M-23.9%	$12.8M-23.6%	$16.8M
Free Cash Flow	$75.6M+593.7%	-$15.3M-151.3%	$29.8M-74.9%	$119.0M+6.5%	$111.7M+17.9%	$94.8M0.0%	$94.8M+12.7%	$84.1M
Investing Cash Flow	$348K-99.0%	$35.6M+153.6%	$14.0M+136.5%	-$38.5M-278.0%	-$10.2M-4.1%	-$9.8M+57.2%	-$22.8M-235.4%	-$6.8M
Financing Cash Flow	-$104.2M-80.5%	-$57.7M+15.7%	-$68.5M+28.5%	-$95.9M+5.5%	-$101.5M-3.9%	-$97.7M-6.1%	-$92.1M-5.0%	-$87.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WLKP Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	36.9%+4.3pp	32.5%+8.9pp	23.7%-12.7pp	36.4%-2.8pp	39.2%+4.4pp	34.8%
Operating Margin	34.4%+4.3pp	30.0%+8.2pp	21.8%-12.0pp	33.8%-2.7pp	36.5%+4.5pp	32.1%
Net Margin	5.5%+0.9pp	4.6%+0.5pp	4.0%-2.8pp	6.8%-0.1pp	6.8%+1.3pp	5.6%
Return on Equity	7.5%+1.2pp	6.3%-0.8pp	7.1%-1.4pp	8.5%+1.3pp	7.2%+0.8pp	6.4%
Return on Assets	4.8%+0.7pp	4.1%-0.6pp	4.7%-0.9pp	5.6%+0.7pp	4.9%+0.5pp	4.4%
Current Ratio	4.35+0.3	4.02+0.3	3.67+1.0	2.63-4.0	6.62+0.5	6.14
Debt-to-Equity	0.55+0.0	0.54+0.0	0.520.0	0.52+0.0	0.48+0.0	0.46
FCF Margin	38.4%+4.4pp	34.0%+8.3pp	25.7%-1.2pp	26.9%-7.9pp	34.8%-2.5pp	37.3%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	32.2%-0.6pp	32.8%+10.1pp	22.8%-11.2pp	34.0%-1.6pp	35.6%-0.3pp	35.9%+2.0pp	33.9%+5.0pp	28.9%
Operating Margin	29.8%-0.9pp	30.7%+11.1pp	19.6%-12.1pp	31.7%-1.2pp	33.0%-0.5pp	33.4%+2.2pp	31.2%+4.4pp	26.8%
Net Margin	4.7%-0.2pp	4.9%+2.8pp	2.1%-3.1pp	5.2%+0.1pp	5.1%-0.1pp	5.2%+0.4pp	4.8%+0.7pp	4.1%
Return on Equity	1.8%+0.0pp	1.8%+1.1pp	0.6%-1.2pp	1.8%+0.1pp	1.7%-0.0pp	1.8%+0.1pp	1.7%+0.1pp	1.5%
Return on Assets	1.1%+0.0pp	1.1%+0.8pp	0.4%-0.8pp	1.2%+0.0pp	1.1%-0.0pp	1.1%+0.1pp	1.1%+0.1pp	1.0%
Current Ratio	2.37+0.2	2.15+0.8	1.37-3.0	4.35-0.3	4.68-0.5	5.21+1.2	4.02+1.0	3.06
Debt-to-Equity	0.560.0	0.57-0.1	0.71+0.2	0.550.0	0.54+0.0	0.53-0.0	0.54-0.0	0.56
FCF Margin	24.5%+29.6pp	-5.1%-17.7pp	12.6%-28.5pp	41.0%+1.7pp	39.3%+6.0pp	33.3%+1.4pp	31.9%+5.8pp	26.2%

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Frequently Asked Questions

What is Westlake Chem Partners Lp's annual revenue?

Westlake Chem Partners Lp (WLKP) reported $1.1B in total revenue for fiscal year 2024. This represents a -4.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Westlake Chem Partners Lp's revenue growing?

Westlake Chem Partners Lp (WLKP) revenue declined by 4.6% year-over-year, from $1.2B to $1.1B in fiscal year 2024.

Is Westlake Chem Partners Lp profitable?

Yes, Westlake Chem Partners Lp (WLKP) reported a net income of $62.4M in fiscal year 2024, with a net profit margin of 5.5%.

What is Westlake Chem Partners Lp's EBITDA?

Westlake Chem Partners Lp (WLKP) had EBITDA of $502.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Westlake Chem Partners Lp's gross margin?

Westlake Chem Partners Lp (WLKP) had a gross margin of 36.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Westlake Chem Partners Lp's operating margin?

Westlake Chem Partners Lp (WLKP) had an operating margin of 34.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Westlake Chem Partners Lp's net profit margin?

Westlake Chem Partners Lp (WLKP) had a net profit margin of 5.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Westlake Chem Partners Lp's return on equity (ROE)?

Westlake Chem Partners Lp (WLKP) has a return on equity of 7.5% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Westlake Chem Partners Lp's free cash flow?

Westlake Chem Partners Lp (WLKP) generated $436.0M in free cash flow during fiscal year 2024. This represents a 7.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Westlake Chem Partners Lp's operating cash flow?

Westlake Chem Partners Lp (WLKP) generated $485.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Westlake Chem Partners Lp's total assets?

Westlake Chem Partners Lp (WLKP) had $1.3B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Westlake Chem Partners Lp's capital expenditures?

Westlake Chem Partners Lp (WLKP) invested $49.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

What is Westlake Chem Partners Lp's current ratio?

Westlake Chem Partners Lp (WLKP) had a current ratio of 4.35 as of fiscal year 2024, which is generally considered healthy.

What is Westlake Chem Partners Lp's debt-to-equity ratio?

Westlake Chem Partners Lp (WLKP) had a debt-to-equity ratio of 0.55 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Westlake Chem Partners Lp's return on assets (ROA)?

Westlake Chem Partners Lp (WLKP) had a return on assets of 4.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Westlake Chem Partners Lp's Piotroski F-Score?

Westlake Chem Partners Lp (WLKP) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Westlake Chem Partners Lp's earnings high quality?

Westlake Chem Partners Lp (WLKP) has an earnings quality ratio of 7.77x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Westlake Chem Partners Lp cover its interest payments?

Westlake Chem Partners Lp (WLKP) has an interest coverage ratio of 15.2x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Westlake Chem Partners Lp?

Westlake Chem Partners Lp (WLKP) scores 73 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.