WLKP

MKT CAP:$795M

Westlake Chemical Partners LP

Market Cap

$795M

Basic Materials·Chemicals·🇺🇸 United States·NYSE

Materials·Chemicals·🇺🇸·NYSE

Stock Price

$22.56+$3.61 (+19.05%)

Apr 24, 2026

Company Details

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company's ethylene production facilities primarily convert ethane into ethylene. It also sells ethyle...

CEO

Jean-Marc Gilson

IPO Date

Jul 30, 2014

Website

www.wlkpartners.com

Key Metrics TTM

Revenue

$1.2B

— YoY

Net Income

$132M

EPS (Diluted)

$3.73

Free Cash Flow

$429M

Revenue / Share

$33.18

Gross Margin

35.7%

Operating Margin

33.2%

Net Margin

11.3%

FCF Margin

36.7%

P/S

0.7x

P/E

6.0x

Earnings Reports

Q1 2026

May 1, 2026

PENDING

FY 2025

Mar 4, 2026

$1.2BEPS $8.47

Q4 2025

Mar 4, 2026

$323MEPS $2.39

Q3 2024

Nov 6, 2024

$277MEPS $0.51

Q2 2024

Aug 9, 2024

$284MEPS $0.41

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 23	$297M	$101M	$93M
Q1 24	$285M	$102M	$95M
Q2 24	$284M	$101M	$94M
Q3 24	$277M	$117M	$110M
Q4 25	$323M	$97M	$90M

Valuation

Quarter	P/S	P/E
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	0.7x	12.9x
Q4 25	0.7x	6.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 23	$108M	$95M
Q1 24	$105M	$95M
Q2 24	$122M	$112M
Q3 24	$126M	$111M
Q4 25	$120M	$112M

Capital Expenditures

Quarter	CapEx
Q4 23	$13M
Q1 24	$10M
Q2 24	$10M
Q3 24	$16M
Q4 25	$9M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 25	+8.7%	+14.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 23	$349.0K	0.1%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q4 23	$7M	$748.0K	—
Q1 24	$6M	$978.0K	—
Q2 24	$7M	$529.0K	—
Q3 24	$7M	$636.0K	—
Q4 25	—	—	$7M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$19M	$0	$19M
Q2 22	$18M	$0	$18M
Q3 22	$19M	$0	$19M
Q4 22	$65M	$0	$65M
Q1 23	$105M	$0	$105M
Q2 23	$59M	$0	$59M
Q3 23	$66M	$0	$66M
Q4 23	$59M	$0	$59M
Q1 24	$56M	$0	$56M
Q2 24	$66M	$0	$66M
Q3 24	$60M	$0	$60M
Q4 24	$58M	$0	$58M
Q1 25	$50M	$0	$50M
Q2 25	$37M	$0	$37M
Q3 25	$38M	$0	$38M
Q4 25	$44M	$0	$44M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 23	35M	—	—
Q1 24	35M	0.0%	—
Q2 24	35M	+0.0%	—
Q3 24	35M	+0.0%	—
Q4 25	35M	+0.0%	+0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 23	$2M	152
Q1 24	$2M	152
Q2 24	$2M	152
Q3 24	$2M	152
Q4 25	$2M	155

Revenue / Employee