Western Midstream Partners LP (WES) — Tangible Net Worth Ratio
Western Midstream Partners LP (WES) has a Tangible Net Worth Ratio of 68.5% as of June 2026. This metric is calculated by deducting intangible assets ($1.38 Billion) from net assets ($4.40 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. Also explore net asset growth rate of Western Midstream Partners LP to track the company's year-over-year net asset growth rate.
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 June 2026, the ratio stands at 68.5%, reflecting net assets of $4.40 Billion with intangible assets of $1.38 Billion USD. For live market cap and overall valuation, see Western Midstream Partners LP (WES) market capitalisation.
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. Explore WES capital expenditure intensity to see what proportion of operating cash flow is directed to capital expenditures.
| 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 | — |