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Western Midstream Partners LPWES +1.76%85 EV-to-OCF is 12.94 as of Aug. 06, 2026, which is 21% above its 10-year median of 10.67. GuruFocus rates WES with a GF Score™ of 85/100 and a GF Value™ of $43.92 (Fairly Valued). The stock has 9 warning signs investors should review. Among 1,023 Oil & Gas companies, Western Midstream Partners LP ranks worse than 76.64% on this metric.
The historical rank and industry rank for Western Midstream Partners LP's EV-to-OCF or its related term are showing as below:
WES'
s EV-to-OCF Range Over the Past 10 Years
Min: 6.87 Med: 10.67 Max: 18.89
Current: 12.94
During the past 13 years, the highest EV-to-OCF of Western Midstream Partners LP was 18.89. The lowest was 6.87. And the median was 10.67.
WES's EV-to-OCF is ranked worse than 76.64% of 1023
companies
in the Oil & Gas industry
Industry Median: 5.7
vs WES: 12.94
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Western Midstream Partners LP (NYSE:WES) EV-to-OCF Explanation
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Western Midstream Partners LP's PE Ratio (TTM) for today is calculated as:
Western Midstream Partners LP's share price for today is $46.96.
Western Midstream Partners LP's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $3.180.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Western Midstream Partners LP EV-to-OCF Related Terms
Western Midstream Partners LP EV-to-OCF 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.
For the Oil & Gas Midstream subindustry, Western Midstream Partners LP's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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 EV-to-OCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Western Midstream Partners LP's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Western Midstream Partners LP's EV-to-OCF falls into.
Western Midstream Partners LP's current Enterprise Value is $27,604 Mil.
Western Midstream Partners LP's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,132 Mil.
* 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 (WES) has a EV-to-OCF of 12.94 as of Aug. 06, 2026. This is 21% above median its historical median of 10.67. Over the past decade, Western Midstream Partners LP's EV-to-OCF has ranged from 6.87 to 18.89. According to the industry distribution chart, Western Midstream Partners LP ranks #784 out of 1023 companies in the Oil & Gas industry, placing it in the top 76.6%.
Is Western Midstream Partners LP's EV-to-OCF too high?
Western Midstream Partners LP's current EV-to-OCF of 12.94 is 21% above median its 10-year median of 10.67. Over the past 10 years, this metric has ranged from a low of 6.87 to a high of 18.89. The Oil & Gas industry median EV-to-OCF is 5.70. Western Midstream Partners LP's value of 12.94 is 127% above this industry median. Based on the distribution chart, Western Midstream Partners LP ranks #784 out of 1023 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. 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 EV-to-OCF compare to PAA and DTM?
According to the Oil & Gas industry distribution chart, Western Midstream Partners LP ranks #784 out of 1023 companies for EV-to-OCF. This places Western Midstream Partners LP in the lower half of its industry. The industry median EV-to-OCF is 5.70. Western Midstream Partners LP's value of 12.94 is 127% above this benchmark. Historically, Western Midstream Partners LP's own EV-to-OCF has ranged from 6.87 to 18.89 over the past decade. While the company's 10-year median is 10.67 vs. the industry median of 5.70, 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 EV-to-OCF for an Oil & Gas company?
The median EV-to-OCF among Oil & Gas companies is 5.70, based on 1,023 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Western Midstream Partners LP's current EV-to-OCF of 12.94 is 127% 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 EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Oil & Gas industry, the median EV-to-OCF is 5.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Western Midstream Partners LP's current EV-to-OCF is 12.94, which is 21% above median its own 10-year median of 10.67. 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 $46.96 — trading 6.9% above its estimated fair value. The current EV-to-OCF is 12.94, which is 21% above median its 10-year median of 10.67 and 127% above the Oil & Gas industry median of 5.70. 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 EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Western Midstream Partners LP (WES), the current EV-to-OCF is 12.94 as of Aug. 06, 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 $46.96 is trading 6.9% above its estimated GF Value™ of $43.92.
GuruFocus considers Western Midstream Partners LP to be Fairly Valued.
Key valuation signals for WES:
EV-to-OCF: 12.94 (21% above median its 10-year median of 10.67)
GF Value™: $43.92 vs. price of $46.96 (6.9% above fair value)
Industry Position: 127% above the Oil & Gas median (#784 of 1023)
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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