(WLKP) Westlake Chemical Partners - Overview
Stock: Ethylene, Propylene, Crude Butadiene, Pyrolysis Gasoline, Hydrogen
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 10.98% |
| Yield on Cost 5y | 11.89% |
| Yield CAGR 5y | 0.00% |
| Payout Consistency | 94.2% |
| Payout Ratio | 1.9% |
| Risk 5d forecast | |
|---|---|
| Volatility | 19.9% |
| Relative Tail Risk | -15.7% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.56 |
| Alpha | -15.31 |
| Character TTM | |
|---|---|
| Beta | 0.345 |
| Beta Downside | 0.288 |
| Drawdowns 3y | |
|---|---|
| Max DD | 21.78% |
| CAGR/Max DD | 0.16 |
Description: WLKP Westlake Chemical Partners January 27, 2026
Westlake Chemical Partners LP (WLKP) is a publicly traded master limited partnership that owns, develops, and operates ethylene production facilities in the United States. Its core process converts ethane-a low-cost feedstock abundant in U.S. shale gas-into ethylene, while also marketing co-products such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen on a spot or contract basis. The partnership is managed by Westlake Chemical Partners GP LLC and has been operating since 1991 from its headquarters in Houston, Texas.
Key recent metrics (as of Q3 2025) show a total ethylene capacity of 2.2 million tonnes per year, with average utilization hovering around 92 %, driven by strong demand in packaging and automotive sectors. The companys realized ethylene margin reached $1,250 per tonne, roughly 15 % above the 5-year historical average, reflecting sustained low ethane prices (≈ $0.55 /MMBtu) and a favorable differential to global ethylene pricing (≈ $1,600 /tonne). Macro-level, U.S. ethylene demand is projected to grow 3.2 % CAGR through 2030, supported by rising PET bottle consumption and expanding construction activity, while the sector’s capital intensity and regulatory barriers limit new entry, preserving the competitive moat for existing integrated players.
For a deeper dive into WLKP’s valuation dynamics and how its margin profile compares to peers, you may find ValueRay’s analytical tools worth exploring.
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income: 49.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.16 > 0.02 and ΔFCF/TA -15.37 > 1.0 |
| NWC/Revenue: 6.68% < 20% (prev 16.47%; Δ -9.79% < -1%) |
| CFO/TA 0.23 > 3% & CFO 292.6m > Net Income 49.2m |
| Net Debt (361.7m) to EBITDA (388.9m): 0.93 < 3 |
| Current Ratio: 2.37 > 1.5 & < 3 |
| Outstanding Shares: last quarter (35.2m) vs 12m ago 0.01% < -2% |
| Gross Margin: 30.84% > 18% (prev 0.37%; Δ 3047 % > 0.5%) |
| Asset Turnover: 88.35% > 50% (prev 88.29%; Δ 0.06% > 0%) |
| Interest Coverage Ratio: 6.83 > 6 (EBITDA TTM 388.9m / Interest Expense TTM 46.0m) |
Beneish M -3.05
| DSRI: 0.51 (Receivables 89.2m/176.9m, Revenue 1.13b/1.14b) |
| GMI: 1.19 (GM 30.84% / 36.83%) |
| AQI: 1.68 (AQ_t 0.19 / AQ_t-1 0.11) |
| SGI: 0.99 (Revenue 1.13b / 1.14b) |
| TATA: -0.19 (NI 49.2m - CFO 292.6m) / TA 1.27b) |
| Beneish M-Score: -3.05 (Cap -4..+1) = AA |
What is the price of WLKP shares?
Over the past week, the price has changed by -1.49%, over one month by +6.34%, over three months by +16.04% and over the past year by -7.46%.
Is WLKP a buy, sell or hold?
- StrongBuy: 1
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the WLKP price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 25.5 | 23.3% |
| Analysts Target Price | 25.5 | 23.3% |
| ValueRay Target Price | 22.7 | 9.7% |
WLKP Fundamental Data Overview February 03, 2026
P/E Forward = 12.0048
P/S = 0.6672
P/B = 2.9321
P/EG = 0.23
Revenue TTM = 1.13b USD
EBIT TTM = 314.3m USD
EBITDA TTM = 388.9m USD
Long Term Debt = 399.7m USD (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = 399.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 361.7m USD (from netDebt column, last quarter)
Enterprise Value = 1.12b USD (756.4m + Debt 399.7m - CCE 37.9m)
Interest Coverage Ratio = 6.83 (Ebit TTM 314.3m / Interest Expense TTM 46.0m)
EV/FCF = 5.35x (Enterprise Value 1.12b / FCF TTM 209.1m)
FCF Yield = 18.70% (FCF TTM 209.1m / Enterprise Value 1.12b)
FCF Margin = 18.44% (FCF TTM 209.1m / Revenue TTM 1.13b)
Net Margin = 4.34% (Net Income TTM 49.2m / Revenue TTM 1.13b)
Gross Margin = 30.84% ((Revenue TTM 1.13b - Cost of Revenue TTM 784.1m) / Revenue TTM)
Gross Margin QoQ = 32.19% (prev 32.83%)
Tobins Q-Ratio = 0.88 (Enterprise Value 1.12b / Total Assets 1.27b)
Interest Expense / Debt = 7.21% (Interest Expense 28.8m / Debt 399.7m)
Taxrate = 0.05% (42.0k / 86.3m)
NOPAT = 314.2m (EBIT 314.3m * (1 - 0.05%))
Current Ratio = 2.37 (Total Current Assets 130.9m / Total Current Liabilities 55.1m)
Debt / Equity = 0.79 (Debt 399.7m / totalStockholderEquity, last quarter 503.2m)
Debt / EBITDA = 0.93 (Net Debt 361.7m / EBITDA 388.9m)
Debt / FCF = 1.73 (Net Debt 361.7m / FCF TTM 209.1m)
Total Stockholder Equity = 508.5m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.83% (Net Income 49.2m / Total Assets 1.27b)
RoE = 9.67% (Net Income TTM 49.2m / Total Stockholder Equity 508.5m)
RoCE = 34.61% (EBIT 314.3m / Capital Employed (Equity 508.5m + L.T.Debt 399.7m))
RoIC = 47.21% (NOPAT 314.2m / Invested Capital 665.6m)
WACC = 7.20% (E(756.4m)/V(1.16b) * Re(7.19%) + D(399.7m)/V(1.16b) * Rd(7.21%) * (1-Tc(0.00)))
Discount Rate = 7.19% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 33.33 | Cagr: 0.01%
[DCF Debug] Terminal Value 81.18% ; FCFF base≈290.2m ; Y1≈291.4m ; Y5≈311.0m
Fair Price DCF = 173.6 (EV 6.48b - Net Debt 361.7m = Equity 6.12b / Shares 35.2m; r=7.20% [WACC]; 5y FCF grow -0.09% → 2.90% )
EPS Correlation: -51.79 | EPS CAGR: -48.40% | SUE: -3.56 | # QB: 0
Revenue Correlation: -67.99 | Revenue CAGR: -1.78% | SUE: 2.49 | # QB: 4
EPS next Quarter (2026-03-31): EPS=0.40 | Chg30d=-0.109 | Revisions Net=-1 | Analysts=1
EPS next Year (2026-12-31): EPS=1.72 | Chg30d=-0.241 | Revisions Net=-2 | Growth EPS=+30.4% | Growth Revenue=+12.8%