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WES

Western Midstream Partners, LP

Energy · $18.3B market cap

Verdict

Share price

$44.76

close of Oct 3, 2026

Fair value

$37.01

Sticker Price

Payback Price

$14.80

buy price

Overpriced

WES is Overpriced: at $44.76 it trades 21% above its fair value of $37.01. Its buy price (Payback Price) is $14.80, 67% below today's price. Business quality is strong: 4 of 5 key numbers clear the 10% bar.

How we valued it

Free Cash Flow. Sales grew 6% a year over the last 3 years, below the 15% we look for in a fast grower, so we value it on its free cash flow instead of an earnings forecast.

Business quality

4 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth19.4% a year✓
Equity per share growth6.1% a year✗
Sales growth12.3% a year✓
Free cash flow growth18.7% a year✓
Return on invested capital12.7%✓

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Insider activity

Since Aug 12, 2026: 1 open-market purchase worth $250K. Why purchases matter

Purchases

Forthuber Frederick A.

director · 2026-08-12

Bought

$250K

About Western Midstream Partners, LP

Western Midstream Partners, LP, an energy infrastructure company operating with its subsidiaries, primarily acquires, owns, develops, and manages assets across the United States. Its core functions include the collection, compression, treatment, processing, and transportation of natural gas. The firm also handles the gathering, stabilization, and conveyance of condensate, natural gas liquids (NGLs), and crude oil…

Oil & Gas Midstream

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works