Westlake Chemical Partners LP (WLKP) Key Metrics
WLKP valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $733.1M
- Enterprise value
- $1.10B
- P/E (TTM)
- 12.7 10-yr median 13.9
- Forward P/E
- 11.4
- PEG ratio
- 0.23
- Price / sales
- 0.6 10-yr median 0.6
- Price / book
- 3.0 10-yr median 1.5
- EV / EBITDA
- 2.5 10-yr median 2.4
- Dividend yield
- 9.09% $1.89 a year
- Beta
- 0.49
WLKP key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsWLKP valuation Price multiples at each fiscal year-end price.
WLKP returns How much profit the business earns on the capital it uses.
WLKP per-share figures Results divided by the shares outstanding at year-end.
WLKP financial health Debt, liquidity and how easily interest is covered.
WLKP efficiency & capital use Working capital cycle and where the cash goes.
WLKP valuation history
WLKP returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
WLKP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
WLKP cash returned to shareholders
WLKP price vs earnings per share
WLKP key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $669.4M | $815.3M | $762.6M | $827.6M | $945.6M | $839.1M | $911.2M | $788.6M | $708.4M | $590.9M |
| Enterprise value | $1.02B | $1.16B | $1.10B | $1.16B | $1.33B | $1.22B | $1.29B | $1.25B | $1.16B | $1.10B |
| P/E ratio | 13.7 | 13.1 | 14.0 | 12.9 | 11.5 | 12.7 | 14.9 | 16.0 | 14.6 | 14.4 |
| Price / sales | 0.6 | 0.7 | 0.6 | 0.5 | 0.8 | 0.9 | 0.8 | 0.6 | 0.6 | 0.6 |
| Price / book | 1.3 | 1.6 | 1.5 | 1.5 | 1.8 | 1.6 | 1.8 | 0.8 | 0.7 | 0.6 |
| Price / free cash flow | 3.3 | 1.9 | 1.9 | 2.0 | 2.9 | 2.5 | 2.2 | 2.0 | 1.5 | — |
| Price / operating cash flow | 2.4 | 1.7 | 1.7 | 1.8 | 2.3 | 2.2 | 2.0 | 1.8 | 1.3 | 2.1 |
| EV / sales | 0.9 | 1.0 | 0.9 | 0.7 | 1.1 | 1.3 | 1.2 | 1.0 | 1.0 | 1.1 |
| EV / EBITDA | 2.3 | 2.3 | 2.3 | 2.5 | 2.6 | 2.7 | 2.8 | 2.7 | 2.4 | 2.4 |
| EV / free cash flow | 5.1 | 2.7 | 2.7 | 2.8 | 4.1 | 3.6 | 3.2 | 3.1 | 2.5 | — |
| Earnings yield | 7.3% | 7.7% | 7.1% | 7.8% | 8.7% | 7.9% | 6.7% | 6.3% | 6.9% | 6.9% |
| Free cash flow yield | 30.1% | 53.5% | 53.1% | 49.5% | 34.6% | 40.1% | 44.7% | 50.3% | 66.1% | −2.0% |
| Dividend yield | 9.9% | 8.1% | 8.7% | 8.0% | 7.0% | 7.9% | 6.8% | 6.8% | 5.9% | 5.9% |
| Shareholder yield (dividends + buybacks) | 9.9% | 8.1% | 8.7% | 48.8% | 36.4% | 45.1% | 6.8% | 50.1% | 5.9% | 47.3% |
| Share price at fiscal year-end | $19.00 | $23.14 | $21.65 | $23.50 | $26.86 | $23.84 | $26.42 | $24.13 | $24.95 | $21.65 |
| Per share | ||||||||||
| Revenue per share | $33.11 | $32.24 | $33.81 | $45.24 | $34.51 | $27.47 | $31.66 | $39.34 | $41.31 | $36.15 |
| Earnings per share | $1.38 | $1.77 | $1.54 | $1.82 | $2.34 | $1.88 | $1.77 | $1.51 | $1.71 | $1.50 |
| Operating cash flow per share | $7.96 | $13.77 | $12.83 | $13.17 | $11.60 | $10.61 | $13.07 | $13.35 | $18.93 | $10.54 |
| Free cash flow per share | $5.72 | $12.38 | $11.50 | $11.63 | $9.30 | $9.56 | $11.80 | $12.13 | $16.50 | −$0.44 |
| Cash per share | $1.26 | $1.66 | $1.66 | $1.84 | $0.48 | $0.49 | $0.58 | $0.60 | $0.95 | $3.26 |
| Book value per share | $14.22 | $14.72 | $14.83 | $15.18 | $15.24 | $14.77 | $15.08 | $28.58 | $35.18 | $33.74 |
| Tangible book value per share | $14.06 | $14.56 | $14.67 | $15.01 | $15.08 | $14.61 | $14.91 | $28.40 | $34.77 | $33.32 |
| Dividends per share | $1.89 | $1.89 | $1.89 | $1.89 | $1.89 | $1.89 | $1.80 | $1.63 | $1.48 | $1.28 |
| Capex per share | $2.24 | $1.39 | $1.33 | $1.54 | $2.31 | $1.05 | $1.27 | $1.22 | $2.43 | $10.98 |
| Debt per share | $11.34 | $11.34 | $11.35 | $11.35 | $11.35 | $11.36 | $11.59 | $14.61 | $16.69 | $21.79 |
| Shares outstanding | 35.2M | 35.2M | 35.2M | 35.2M | 35.2M | 35.2M | 34.5M | 32.7M | 28.4M | 27.3M |
| Change in shares outstanding | 0.0% | +0.0% | +0.0% | +0.0% | +0.0% | +2.1% | +5.5% | +15.1% | +4.0% | +0.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 9.6% | 12.0% | 10.3% | 12.0% | 15.6% | 12.7% | 8.4% | 5.1% | 5.1% | 4.6% |
| Return on invested capital (ROIC) | 37.2% | 45.2% | 41.2% | 38.8% | 45.0% | 39.1% | 30.5% | 24.6% | 26.0% | 29.4% |
| Return on assets (ROA) | 3.8% | 4.8% | 4.0% | 4.5% | 5.8% | 4.8% | 4.3% | 3.3% | 3.2% | 2.9% |
| Return on tangible assets | 3.9% | 4.9% | 4.1% | 4.7% | 5.6% | 4.9% | 4.4% | 3.4% | 3.2% | 2.7% |
| Free cash flow margin | 17.3% | 38.4% | 34.0% | 25.7% | 26.9% | 34.8% | 37.3% | 30.8% | 39.9% | −1.2% |
| Income quality (OCF / net income) | 5.76 | 7.77 | 8.33 | 7.23 | 4.95 | 5.64 | 7.39 | 8.84 | 11.04 | 7.03 |
| Financial health | ||||||||||
| Total debt | $399.7M | $399.7M | $399.7M | $399.7M | $399.7M | $399.7M | $399.7M | $477.6M | $474.0M | $594.6M |
| Cash & short-term investments | $44.3M | $58.3M | $58.6M | $64.8M | $17.1M | $17.2M | $19.9M | $19.7M | $27.0M | $88.9M |
| Net debt | $355.4M | $341.4M | $341.1M | $334.9M | $382.6M | $382.5M | $379.8M | $457.9M | $447.0M | $505.7M |
| Debt / equity | 0.80 | 0.77 | 0.76 | 0.75 | 0.74 | 0.77 | 0.77 | 0.51 | 0.47 | 0.65 |
| Debt / assets | 0.32 | 0.31 | 0.30 | 0.29 | 0.27 | 0.29 | 0.29 | 0.33 | 0.31 | 0.38 |
| Net debt / EBITDA | 0.79 | 0.67 | 0.72 | 0.71 | 0.74 | 0.84 | 0.82 | 0.99 | 0.91 | 1.09 |
| Current ratio | 2.80 | 4.35 | 4.02 | 3.67 | 2.63 | 6.62 | 6.14 | 5.07 | 5.75 | 6.15 |
| Quick ratio | 2.74 | 4.28 | 3.94 | 3.60 | 2.55 | 6.54 | 6.07 | 4.98 | 5.61 | 6.04 |
| Interest coverage | 14.0 | 15.2 | 13.5 | 25.9 | 46.6 | 29.3 | 17.8 | 16.3 | 17.1 | 29.1 |
| Working capital | $92.2M | $185.6M | $169.9M | $178.9M | $174.4M | $223.6M | $199.6M | $198.4M | $191.1M | $194.4M |
| Invested capital | $856.5M | $860.1M | $863.6M | $869.4M | $919.2M | $902.5M | $899.8M | $1.39B | $1.45B | $1.43B |
| Tangible asset value | $796.5M | $823.5M | $850.4M | $897.9M | $966.9M | $909.3M | $946.3M | $928.3M | $987.1M | $909.3M |
| Net current asset value | −$310.7M | −$217.7M | −$234.4M | −$222.5M | −$226.8M | −$178.0M | −$202.9M | −$280.9M | −$285.1M | −$402.1M |
| Graham number | $21.03 | $24.22 | $22.68 | $24.95 | $28.35 | $25.00 | $24.49 | $31.16 | $36.83 | $33.75 |
| Graham net-net per share | −$10.24 | −$7.51 | −$7.88 | −$9.06 | −$8.39 | −$6.84 | −$7.51 | −$10.38 | −$11.90 | −$16.09 |
| Capital allocation | ||||||||||
| Dividends paid | $66.5M | $66.4M | $66.4M | $66.4M | $66.4M | $66.4M | $62.1M | $53.4M | $42.1M | $34.9M |
| Share buybacks (net) | — | — | — | $337.6M | $277.9M | $311.8M | $0 | $341.9M | $0 | $244.6M |
| Dividend payout ratio | 136.5% | 106.5% | 122.4% | 103.5% | 80.4% | 100.3% | 101.8% | 108.1% | 86.5% | 85.3% |
| Dividends + buybacks / free cash flow | 33.0% | 15.2% | 16.4% | 98.6% | 105.2% | 112.4% | 15.3% | 99.7% | 9.0% | — |
| Capex / revenue | 6.8% | 4.3% | 3.9% | 3.4% | 6.7% | 3.8% | 4.0% | 3.1% | 5.9% | 30.4% |
| Capex / operating cash flow | 28.1% | 10.1% | 10.4% | 11.7% | 19.9% | 9.9% | 9.7% | 9.1% | 12.8% | 104.1% |
| Capex / depreciation | 0.62 | 0.44 | 0.42 | 0.45 | 0.75 | 0.36 | 0.41 | 0.37 | 0.60 | 3.05 |
| Stock-based compensation / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 2.4% | 2.5% | 2.5% | 1.9% | 2.6% | 2.7% | 2.7% | 2.1% | 2.5% | 2.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 37.8 | 54.8 | 41.7 | 41.7 | 74.7 | 86.3 | 73.1 | 59.8 | 52.5 | 35.3 |
| Days of inventory on hand | 1.5 | 2.2 | 2.1 | 2.0 | 2.9 | 1.8 | 1.8 | 2.0 | 2.3 | 2.4 |
| Days payables outstanding | 16.1 | 13.3 | 18.3 | 14.3 | 15.8 | 13.1 | 13.8 | 11.5 | 11.1 | 17.3 |
| Cash conversion cycle (days) | 23.3 | 43.7 | 25.4 | 29.5 | 61.8 | 75.0 | 61.1 | 50.3 | 43.7 | 20.4 |
| Receivables turnover | 9.65 | 6.67 | 8.75 | 8.74 | 4.89 | 4.23 | 4.99 | 6.11 | 6.95 | 10.35 |
| Payables turnover | 22.73 | 27.52 | 19.89 | 25.51 | 23.12 | 27.77 | 26.45 | 31.84 | 33.02 | 21.13 |
| Inventory turnover | 239.88 | 168.89 | 175.65 | 178.62 | 124.98 | 197.31 | 207.35 | 182.09 | 161.55 | 152.41 |
| Asset turnover | 0.92 | 0.87 | 0.89 | 1.12 | 0.86 | 0.70 | 0.76 | 0.86 | 0.76 | 0.69 |
| Average receivables | $120.8M | $170.4M | $136.1M | $182.2M | $248.6M | $228.6M | $218.8M | $210.6M | $168.8M | $95.3M |
| Average payables | $36.0M | $26.0M | $40.4M | $47.7M | $33.4M | $21.2M | $26.9M | $28.5M | $23.3M | $28.2M |
| Average inventory | $3.4M | $4.2M | $4.6M | $6.8M | $6.2M | $3.0M | $3.4M | $5.0M | $4.8M | $3.9M |
| Intangibles / total assets | 0.5% | 0.5% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.8% | 0.7% |
Computed from WLKP's annual financial statements (latest annual report filed March 4, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
WLKP valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Westlake Chemical Partners traded at 13.7 times earnings, against a 10-year median of 13.9. Based on the latest twelve months, the trailing P/E is 12.7 and the forward P/E is 11.4. Westlake Chemical Partners earned a return on equity of 9.6% and a return on invested capital of 37.2% in fiscal 2025. It ended the year with $399.7 million of debt and $44.3 million in cash and short-term investments, net debt of $355.4 million. It returned $66.5 million to shareholders: $66.5 million in dividends and $0 in share buybacks, 33% of free cash flow. The share count rose 29.1% from 27.3M to 35.2M over 9 years.
See the WLKP income statement, the WLKP chart for price history, or the WLKP stock overview for the latest quote and news.
WLKP key metrics FAQ
What is Westlake Chemical Partners's P/E ratio?
Westlake Chemical Partners's trailing P/E ratio is 12.7 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 11.4. At the end of fiscal 2025 it was 13.7, compared with a 10-year median of 13.9.
What is Westlake Chemical Partners's EV/EBITDA?
Westlake Chemical Partners's enterprise value was 2.3 times EBITDA at the end of fiscal 2025 (enterprise value $1.0 billion, EBITDA $450.0 million); the current EV/EBITDA is 2.5.
What is Westlake Chemical Partners's return on equity?
Westlake Chemical Partners's return on equity (ROE) was 9.6% in fiscal 2025: net income of $48.7 million on average shareholders' equity of $509.9 million.
What is Westlake Chemical Partners's ROIC?
Westlake Chemical Partners's return on invested capital was 37.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Westlake Chemical Partners have?
Westlake Chemical Partners had total debt of $399.7 million at the end of fiscal 2025, a debt-to-equity ratio of 0.80 and $355.4 million of net debt (0.79 times EBITDA).
What is Westlake Chemical Partners's dividend yield?
Westlake Chemical Partners's forward dividend yield is 9.09%. Westlake Chemical Partners paid $66.5 million in dividends in fiscal 2025 ($1.89 per share), a payout ratio of 136.5%.
What is Westlake Chemical Partners's free cash flow yield?
Westlake Chemical Partners generated $201.7 million of free cash flow in fiscal 2025, a free cash flow yield of 30.1% on its market value at year-end ($669.4 million).
What is Westlake Chemical Partners's current ratio?
Westlake Chemical Partners's current ratio was 2.80 at the end of fiscal 2025: current assets were 2.80 times current liabilities.