Western Midstream Partners LP (WES) — Tangible Net Worth Ratio
Western Midstream Partners LP (WES) has a Tangible Net Worth Ratio of 74.3% as of March 2026. This metric is calculated by deducting intangible assets ($901.90 Million) from net assets ($3.51 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See Western Midstream Partners LP working capital to net assets to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Western Midstream Partners LP Tangible Net Worth Ratio (2006–2025)
This chart shows how Western Midstream Partners LP's Tangible Net Worth Ratio has changed across 20 annual periods from 2006 to 2025. As of March 2026, the ratio stands at 74.3%, reflecting net assets of $3.51 Billion with intangible assets of $901.90 Million USD. See Western Midstream Partners LP defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for Western Midstream Partners LP (2006–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for Western Midstream Partners LP from 2006 to 2025, covering 20 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see how much is Western Midstream Partners LP worth.
| Year | Tangible NW Ratio | Net Assets (USD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 78.1% | $4.16 Billion | $913.76 Million | $15.00 Billion | ▼ -2.7 pp |
| 2024 | 80.7% | $3.38 Billion | $649.74 Million | $13.14 Billion | ▲ +3.2 pp |
| 2023 | 77.5% | $3.03 Billion | $681.41 Million | $12.47 Billion | ▲ +0.4 pp |
| 2022 | 77.1% | $3.11 Billion | $713.08 Million | $11.27 Billion | ▲ +1.1 pp |
| 2021 | 75.9% | $3.10 Billion | $744.74 Million | $11.27 Billion | ▲ +2.8 pp |
| 2020 | 73.2% | $2.90 Billion | $776.41 Million | $11.83 Billion | ▼ -2.6 pp |
| 2019 | 75.8% | $3.35 Billion | $809.39 Million | $12.35 Billion | ▼ -2.9 pp |
| 2018 | 78.7% | $3.50 Billion | $746.80 Million | $9.24 Billion | ▼ -1.7 pp |
| 2017 | 80.3% | $3.94 Billion | $775.27 Million | $8.02 Billion | ▼ -0.1 pp |
| 2016 | 80.4% | $4.11 Billion | $803.70 Million | $7.74 Billion | ▲ +4.3 pp |
| 2015 | 76.2% | $3.49 Billion | $832.13 Million | $6.71 Billion | ▼ -1.8 pp |
| 2014 | 77.9% | $4.01 Billion | $884.86 Million | $6.75 Billion | ▼ -20.0 pp |
| 2013 | 97.9% | $2.59 Billion | $53.61 Million | $4.28 Billion | ▲ +0.6 pp |
| 2012 | 97.3% | $2.08 Billion | $55.49 Million | $3.48 Billion | ▲ +0.9 pp |
| 2011 | 96.4% | $1.47 Billion | $52.86 Million | $2.84 Billion | ▲ +5.2 pp |
| 2010 | 91.2% | $685.10 Million | $60.24 Million | $1.77 Billion | ▼ -5.3 pp |
| 2009 | 96.5% | $600.78 Million | $20.84 Million | $1.08 Billion | ▼ -1.7 pp |
| 2008 | 98.2% | $804.62 Million | $14.44 Million | $1.03 Billion | ▼ -0.1 pp |
| 2007 | 98.3% | $281.32 Million | $4.78 Million | $376.64 Million | ▲ +0.3 pp |
| 2006 | 98.0% | $238.53 Million | $4.78 Million | $332.23 Million | — |