Based on the latest figures, Western Midstream Partners reports a gross margin of 68.7%, an operating margin of 38.9%, an EBITDA margin of 57.6%, and a net margin of 29.6%. EBITDA margin had the largest decline, falling by 6.5 percentage points, while the other available margins also weakened.
WES margin history
Looking back over the last 3 years, Western Midstream Partners recorded average margins of 70.55% gross, 41.75% operating, 65.93% EBITDA, and 36.66% net. The current gross, operating, EBITDA, and net margins are all below their three-year averages.
WES margin expansion
Western Midstream Partners's gross margin contracted by 2.2 percentage points, operating margin by 4.2 percentage points, EBITDA margin by 6.5 percentage points, and net margin by 5.1 percentage points, led by EBITDA margin with a decline of 6.5 percentage points.
WES Gross margin
Across the last 3 years, Western Midstream Partners's gross margin stood at 70.55%. Against its three-year average, Western Midstream Partners's gross margin is currently 68.7%, 1.9 percentage points below its three-year average. Gross margin was highest at 71.4% in Sep 2025 and lowest at 68.7% in Jun 2026.
WES Operating margin
The average operating margin for Western Midstream Partners was 41.75% over the last 3 years. At present, the current operating margin for Western Midstream Partners is 38.9%, 2.9 percentage points below its three-year average. The operating margin for Western Midstream Partners moved between 38.9% in Jun 2026 and 43.8% in Sep 2025.
WES EBITDA margin
Over the last 3 years, Western Midstream Partners's EBITDA margin averaged 65.93%. The current EBITDA margin of 57.6% is 8.3 percentage points below its three-year average. During this period, EBITDA margin reached a high of 73.6% in Jun 2024 and a low of 57.6% in Jun 2026.
WES Net margin
The average net margin for Western Midstream Partners was 36.66% in the last 3 years. Currently, Western Midstream Partners's current net margin is 29.6%, which is 7.1 percentage points below its three-year average. The net margin for Western Midstream Partners moved between 29.6% in Jun 2026 and 44.3% in Jun 2024.
WES margin group comparison
Western Midstream Partners's gross margin of 68.7% is above the Energy sector and the industry average. Compared to its Energy sector average of 42.7%, Western Midstream Partners's gross margin is 61% higher.
WES margin peer comparison
Frequently asked questions
What is Western Midstream Partners's gross margin?
The current gross margin for WES is 68.7% as of Jun 30, 2026.
What is Western Midstream Partners's operating margin?
The current operating margin for WES is 38.9% as of Jun 30, 2026.
What is Western Midstream Partners's EBITDA margin?
The current EBITDA margin for WES is 57.6% as of Jun 30, 2026.
What is Western Midstream Partners's net margin?
As of Jun 30, 2026, WES has a net margin of 29.6%.
What are the average margins of WES?
The three-year average margins for WES were 70.6% gross, 41.8% operating, 65.9% EBITDA, and 36.7% net.
What are the highest historical margins of WES?
Over the last 5 years, Western Midstream Partners's highest margins were 71.4% gross in Sep 2025, 43.8% operating in Sep 2025, 73.6% EBITDA in Jun 2024, and 44.3% net in Jun 2024.
What are the lowest historical margins of WES?
In the last 5 years, the lowest margins reported by WES were 65.9% gross in Mar 2023, 37% operating in Jun 2023, 57.6% EBITDA in Jun 2026, and 29.6% net in Jun 2026.