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A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Western Midstream Partners LP's Debt-to-EBITDA or its related term are showing as below:
WES'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 3.02 Med: 3.75 Max: 5.69
Current: 3.62
During the past 13 years, the highest Debt-to-EBITDA Ratio of Western Midstream Partners LP was 5.69. The lowest was 3.02. And the median was 3.75.
WES's Debt-to-EBITDA is ranked worse than 69.39% of 709
companies
in the Oil & Gas industry
Industry Median: 2.07
vs WES: 3.62
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Western Midstream Partners LP Debt-to-EBITDA Related Terms
Western Midstream Partners LP Debt-to-EBITDA Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Western Midstream Partners LP Debt-to-EBITDA Chart
For the Oil & Gas Midstream subindustry, Western Midstream Partners LP's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Western Midstream Partners LP Debt-to-EBITDA vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Western Midstream Partners LP's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Western Midstream Partners LP's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Jun. 2026) EBITDA data.
Western Midstream Partners LP (WES) has a Debt-to-EBITDA of 3.11 as of Jun. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Western Midstream Partners LP. This is 17% below median its historical median of 3.75. Over the past decade, Western Midstream Partners LP's Debt-to-EBITDA has ranged from 3.02 to 5.69. According to the industry distribution chart, Western Midstream Partners LP ranks #492 out of 709 companies in the Oil & Gas industry, placing it in the top 69.4%.
Is Western Midstream Partners LP's Debt-to-EBITDA too high?
Western Midstream Partners LP's current Debt-to-EBITDA of 3.11 is 17% below median its 10-year median of 3.75. Over the past 10 years, this metric has ranged from a low of 3.02 to a high of 5.69. The Oil & Gas industry median Debt-to-EBITDA is 2.07. Western Midstream Partners LP's value of 3.11 is 50.2% above this industry median. Based on the distribution chart, Western Midstream Partners LP ranks #492 out of 709 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Western Midstream Partners LP has a GF Score™ of 85/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Western Midstream Partners LP's Debt-to-EBITDA compare to PAA and DTM?
According to the Oil & Gas industry distribution chart, Western Midstream Partners LP ranks #492 out of 709 companies for Debt-to-EBITDA. This places Western Midstream Partners LP in the lower half of its industry. The industry median Debt-to-EBITDA is 2.07. Western Midstream Partners LP's value of 3.11 is 50.2% above this benchmark. Historically, Western Midstream Partners LP's own Debt-to-EBITDA has ranged from 3.02 to 5.69 over the past decade. While the company's 10-year median is 3.75 vs. the industry median of 2.07, Western Midstream Partners LP has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for an Oil & Gas company?
The median Debt-to-EBITDA among Oil & Gas companies is 2.07, based on 709 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Western Midstream Partners LP's current Debt-to-EBITDA of 3.11 is 50.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Western Midstream Partners LP. For the Oil & Gas industry, the median Debt-to-EBITDA is 2.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Western Midstream Partners LP's current Debt-to-EBITDA is 3.11, which is 17% below median its own 10-year median of 3.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Western Midstream Partners LP stock overvalued right now?
Based on GuruFocus' analysis, Western Midstream Partners LP (WES) is currently considered Fairly Valued. The stock's GF Value™ is $43.92, compared to a current price of $46.48 — trading 5.8% above its estimated fair value. The current Debt-to-EBITDA is 3.11, which is 17% below median its 10-year median of 3.75 and 50.2% above the Oil & Gas industry median of 2.07. Western Midstream Partners LP's overall GF Score™ is 85/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Western Midstream Partners LP (WES), the current Debt-to-EBITDA is 3.11 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Western Midstream Partners LP (WES) Overvalued in 2026?
Based on GuruFocus' analysis, Western Midstream Partners LP stock appears to be overvalued.
The current stock price of $46.48 is trading 5.8% above its estimated GF Value™ of $43.92.
GuruFocus considers Western Midstream Partners LP to be Fairly Valued.
Key valuation signals for WES:
Debt-to-EBITDA: 3.11 (17% below median its 10-year median of 3.75)
GF Value™: $43.92 vs. price of $46.48 (5.8% above fair value)
Industry Position: 50.2% above the Oil & Gas median (#492 of 709)
No single metric tells the full story. See the WES stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Western Midstream Partners LP is a USA-based company which own, operate, acquire and develop midstream energy assets. The company through its subsidiary is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, NGLs and crude oil. It owns or has investments in assets located in the Rocky Mountains (Colorado, Utah, and Wyoming), the Mid-Continent (Kansas and Oklahoma) and Texas.
85GF Score
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Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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