Western Midstream Partners, LP annual operating margin
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Western Midstream Partners, LP Operating Margin Growth & History (WES)
Western Midstream Partners, LP's operating margin was 41.69% for fiscal 2025.
View full Western Midstream Partners, LP company overviewWestern Midstream Partners, LP annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 41.69% | −12.99 pp |
| 2024 | 2024-12-31 | 54.68% | +10.26 pp |
| 2023 | 2023-12-31 | 44.42% | −4.42 pp |
| 2022 | 2022-12-31 | 48.85% | −0.70 pp |
| 2021 | 2021-12-31 | 49.54% | +15.04 pp |
| 2020 | 2020-12-31 | 34.50% | −10.35 pp |
| 2019 | 2019-12-31 | 44.85% | +7.49 pp |
| 2018 | 2018-12-31 | 37.36% | +4.36 pp |
| 2017 | 2017-12-31 | 33.00% | −6.05 pp |
| 2016 | 2016-12-31 | 39.05% | +30.25 pp |
| 2015 | 2015-12-31 | 8.80% | −27.17 pp |
| 2014 | 2014-12-31 | 35.97% | +6.16 pp |
| 2013 | 2013-12-31 | 29.81% | +8.08 pp |
| 2012 | 2012-12-31 | 21.72% | −6.49 pp |
| 2011 | 2011-12-31 | 28.21% | — |
Western Midstream Partners, LP quarterly operating margin
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| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q1 2026 | 2026-03-31 | 41.83% | −2.86 pp |
| Q4 2025 | 2025-12-31 | 29.66% | −16.20 pp |
| Q3 2025 | 2025-09-30 | 46.37% | +1.54 pp |
| Q2 2025 | 2025-06-30 | 47.18% | −4.71 pp |
| Q1 2025 | 2025-03-31 | 44.69% | −31.87 pp |
| Q4 2024 | 2024-12-31 | 45.86% | +0.18 pp |
| Q3 2024 | 2024-09-30 | 44.83% | −1.68 pp |
| Q2 2024 | 2024-06-30 | 51.89% | +6.27 pp |
| Q1 2024 | 2024-03-31 | 76.57% | +37.01 pp |
| Q4 2023 | 2023-12-31 | 45.68% | −9.34 pp |
| Q3 2023 | 2023-09-30 | 46.51% | +3.87 pp |
| Q2 2023 | 2023-06-30 | 45.61% | +0.26 pp |
| Q1 2023 | 2023-03-31 | 39.55% | −13.85 pp |
| Q4 2022 | 2022-12-31 | 55.01% | +6.65 pp |
| Q3 2022 | 2022-09-30 | 42.64% | −10.66 pp |
| Q2 2022 | 2022-06-30 | 45.35% | −4.44 pp |
| Q1 2022 | 2022-03-31 | 53.40% | +7.14 pp |
| Q4 2021 | 2021-12-31 | 48.36% | −14.03 pp |
| Q3 2021 | 2021-09-30 | 53.30% | −2.22 pp |
| Q2 2021 | 2021-06-30 | 49.79% | −11.46 pp |
| Q1 2021 | 2021-03-31 | 46.27% | +76.34 pp |
| Q4 2020 | 2020-12-31 | 62.39% | +16.23 pp |
| Q3 2020 | 2020-09-30 | 55.52% | +15.15 pp |
| Q2 2020 | 2020-06-30 | 61.25% | +15.97 pp |
| Q1 2020 | 2020-03-31 | −30.08% | −77.53 pp |
| Q4 2019 | 2019-12-31 | 46.16% | +8.01 pp |
| Q3 2019 | 2019-09-30 | 40.37% | −3.26 pp |
| Q2 2019 | 2019-06-30 | 45.28% | +23.29 pp |
| Q1 2019 | 2019-03-31 | 47.45% | +2.66 pp |
| Q4 2018 | 2018-12-31 | 38.15% | +3.91 pp |
| Q3 2018 | 2018-09-30 | 43.62% | +12.53 pp |
| Q2 2018 | 2018-06-30 | 22.00% | −17.40 pp |
| Q1 2018 | 2018-03-31 | 44.79% | +18.14 pp |
| Q4 2017 | 2017-12-31 | 34.24% | −1.09 pp |
| Q3 2017 | 2017-09-30 | 31.09% | −9.72 pp |
| Q2 2017 | 2017-06-30 | 39.39% | −1.51 pp |
| Q1 2017 | 2017-03-31 | 26.65% | −13.06 pp |
| Q4 2016 | 2016-12-31 | 35.33% | +63.71 pp |
| Q3 2016 | 2016-09-30 | 40.81% | −11.37 pp |
| Q2 2016 | 2016-06-30 | 40.90% | +4.44 pp |
| Q1 2016 | 2016-03-31 | 39.72% | +67.90 pp |
| Q4 2015 | 2015-12-31 | −28.39% | −65.73 pp |
| Q3 2015 | 2015-09-30 | 52.18% | +15.06 pp |
| Q2 2015 | 2015-06-30 | 36.46% | +2.66 pp |
| Q1 2015 | 2015-03-31 | −28.18% | −62.98 pp |
| Q4 2014 | 2014-12-31 | 37.35% | +6.78 pp |
| Q3 2014 | 2014-09-30 | 37.11% | +4.38 pp |
| Q2 2014 | 2014-06-30 | 33.80% | +6.38 pp |
| Q1 2014 | 2014-03-31 | 34.80% | +7.00 pp |
| Q4 2013 | 2013-12-31 | 30.56% | +27.54 pp |
| Q3 2013 | 2013-09-30 | 32.73% | +6.61 pp |
| Q2 2013 | 2013-06-30 | 27.42% | +0.51 pp |
| Q1 2013 | 2013-03-31 | 27.80% | −2.12 pp |
| Q4 2012 | 2012-12-31 | 3.02% | — |
| Q3 2012 | 2012-09-30 | 26.12% | — |
| Q2 2012 | 2012-06-30 | 26.91% | — |
| Q1 2012 | 2012-03-31 | 29.92% | — |
Western Midstream Partners, LP operating margin trends
Over the last five reported fiscal years, Western Midstream Partners, LP's operating margin increased from 34.50% to 41.69%, a change of +7.19 percentage points. The latest reported quarter, Q1 2026, shows 41.83%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Western Midstream Partners, LP filings at SEC.gov ↗