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Westlake Chemical Partners LPWLKP +0.14%84 ROC (Joel Greenblatt) % is 39.56% as of Mar. 2026, which is 18% above its 10-year median of 33.60. GuruFocus rates WLKP with a GF Score™ of 84/100 and a GF Value™ of $24.32 (Fairly Valued). The stock has 6 warning signs investors should review. Among 1,605 Chemicals companies, Westlake Chemical Partners LP ranks better than 92.27% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Westlake Chemical Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 39.56%.
The historical rank and industry rank for Westlake Chemical Partners LP's ROC (Joel Greenblatt) % or its related term are showing as below:
WLKP'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 30.03 Med: 33.6 Max: 42.84
Current: 40.42
During the past 13 years, Westlake Chemical Partners LP's highest ROC (Joel Greenblatt) % was 42.84%. The lowest was 30.03%. And the median was 33.60%.
WLKP's ROC (Joel Greenblatt) % is ranked better than 92.27% of 1605
companies
in the Chemicals industry
Industry Median: 9.47
vs WLKP: 40.42
Westlake Chemical Partners LP (NYSE:WLKP) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
* 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.
Westlake Chemical Partners LP ROC (Joel Greenblatt) % Chart
WLKP vs LXU, ASPI, ASIX: ROC (Joel Greenblatt) % Comparison
For the Chemicals subindustry, Westlake Chemical Partners LP's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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.
Westlake Chemical Partners LP ROC (Joel Greenblatt) % vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Westlake Chemical Partners LP's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Westlake Chemical Partners LP's ROC (Joel Greenblatt) % falls into.
Westlake Chemical Partners LP ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT 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.
What does a ROC (Joel Greenblatt) % of 39.56% mean?
Westlake Chemical Partners LP (WLKP) has a ROC (Joel Greenblatt) % of 39.56% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Westlake Chemical Partners LP and its competitors. This is 18% above median its historical median of 33.60. Over the past decade, Westlake Chemical Partners LP's ROC (Joel Greenblatt) % has ranged from 30.03 to 42.84. According to the industry distribution chart, Westlake Chemical Partners LP ranks #124 out of 1605 companies in the Chemicals industry, placing it in the top 7.7%.
Is Westlake Chemical Partners LP's ROC (Joel Greenblatt) % too high?
Westlake Chemical Partners LP's current ROC (Joel Greenblatt) % of 39.56% is 18% above median its 10-year median of 33.60. Over the past 10 years, this metric has ranged from a low of 30.03 to a high of 42.84. The Chemicals industry median ROC (Joel Greenblatt) % is 9.47. Westlake Chemical Partners LP's value of 39.56% is 317.7% above this industry median. Based on the distribution chart, Westlake Chemical Partners LP ranks #124 out of 1605 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, Westlake Chemical Partners LP has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Westlake Chemical Partners LP's ROC (Joel Greenblatt) % compare to LXU and ASPI?
According to the Chemicals industry distribution chart, Westlake Chemical Partners LP ranks #124 out of 1605 companies for ROC (Joel Greenblatt) %. This places Westlake Chemical Partners LP in the top 8% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 9.47. Westlake Chemical Partners LP's value of 39.56% is 317.7% above this benchmark. Historically, Westlake Chemical Partners LP's own ROC (Joel Greenblatt) % has ranged from 30.03 to 42.84 over the past decade. While the company's 10-year median is 33.60 vs. the industry median of 9.47, Westlake Chemical 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 ROC (Joel Greenblatt) % for a Chemicals company?
The median ROC (Joel Greenblatt) % among Chemicals companies is 9.47, based on 1,605 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Westlake Chemical Partners LP's current ROC (Joel Greenblatt) % of 39.56% is 317.7% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Westlake Chemical Partners LP and its competitors. For the Chemicals industry, the median ROC (Joel Greenblatt) % is 9.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Westlake Chemical Partners LP's current ROC (Joel Greenblatt) % is 39.56%, which is 18% above median its own 10-year median of 33.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Westlake Chemical Partners LP stock overvalued right now?
Based on GuruFocus' analysis, Westlake Chemical Partners LP (WLKP) is currently considered Fairly Valued. The stock's GF Value™ is $24.32, compared to a current price of $22.03 — trading 9.4% below its estimated fair value. The current ROC (Joel Greenblatt) % is 39.56%, which is 18% above median its 10-year median of 33.60 and 317.7% above the Chemicals industry median of 9.47. Westlake Chemical Partners LP's overall GF Score™ is 84/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Westlake Chemical Partners LP (WLKP), the current ROC (Joel Greenblatt) % is 39.56% as of Mar. 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 Westlake Chemical Partners LP (WLKP) Overvalued in 2026?
Based on GuruFocus' analysis, Westlake Chemical Partners LP stock appears to be undervalued.
The current stock price of $22.03 is trading 9.4% below its estimated GF Value™ of $24.32.
GuruFocus considers Westlake Chemical Partners LP to be Fairly Valued.
Key valuation signals for WLKP:
ROC (Joel Greenblatt) %: 39.56% (18% above median its 10-year median of 33.60)
GF Value™: $24.32 vs. price of $22.03 (9.4% below fair value)
Industry Position: 317.7% above the Chemicals median (#124 of 1605)
No single metric tells the full story. See the WLKP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Westlake Chemical Partners LP Business Description
Westlake Chemical Partners LP is a part of the chemical industry in the United States. Its operations are conducted through OpCo, it acquires and develops ethylene production facilities, which convert ethane into ethylene. OpCo sells ethylene and its co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen, to Westlake and other customers located in the United States. Its assets include three ethylene production facilities in Calvert City, Kentucky, and Lake Charles, Louisiana.
84GF Score
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