MeritValue

Westlake Chemical Partners LP

WLKPdata completeness 63%14 fiscal years on file

Data notes: no data for concept 'totalDebt'; no data for concept 'stockholdersEquity'; no data for concept 'interestExpense'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$188.3M1$250.2M1$1.19B2$1.14B2$1.17B2
Net income$82.5M3$64.2M4$54.3M5$62.4M5$48.7M5
Operating cash flow$408.4M6$463.7M7$452M8$485M8$280.5M8
Capital expenditure$81.2M9$54.1M10$46.8M11$49M11$78.8M11
Free cash flow (derived)$327.3M6$409.6M7$405.2M8$436M8$201.7M8
Total debt—————
Cash & equivalents$17.1M12$64.8M13$58.6M14$58.3M15$44.3M15
Diluted shares—————

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

iii. Is this a good business?
Moat signal · return on equity
— avg · 5y

Not enough data in the filings for a return-on-capital reading.

seeing a moat in the numbers →
Management signal · capital allocation
— shares · 5y

Not enough history to read capital allocation.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
not applicable
no diluted share count — cannot compute per-share value
DCF · Growth Exit 5Y
not applicable
no diluted share count — cannot compute per-share value
Earnings Power Value
not applicable
no diluted share count
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0001604665-23-000009 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2023-12-31 · accession 0001604665-26-000010 (Revenues)
  3. 10-K · period ending 2021-12-31 · accession 0001604665-24-000010 (NetIncomeLoss)
  4. 10-K · period ending 2022-12-31 · accession 0001604665-25-000011 (NetIncomeLoss)
  5. 10-K · period ending 2023-12-31 · accession 0001604665-26-000010 (NetIncomeLoss)
  6. 10-K · period ending 2021-12-31 · accession 0001604665-24-000010 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2022-12-31 · accession 0001604665-25-000011 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-12-31 · accession 0001604665-26-000010 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2021-12-31 · accession 0001604665-24-000010 (PaymentsToAcquirePropertyPlantAndEquipment)
  10. 10-K · period ending 2022-12-31 · accession 0001604665-25-000011 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2023-12-31 · accession 0001604665-26-000010 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2021-12-31 · accession 0001604665-23-000009 (CashAndCashEquivalentsAtCarryingValue)
  13. 10-K · period ending 2022-12-31 · accession 0001604665-24-000010 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2023-12-31 · accession 0001604665-25-000011 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2024-12-31 · accession 0001604665-26-000010 (CashAndCashEquivalentsAtCarryingValue)