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Held by 340 of 5,944 reporting institutions (95th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $47.16 today, the market must believe free cash flow compounds 9.0%/yr for a decade (off $1.2B normalized FCF).
The market's 9.0% is more conservative than its 9-yr track record.
2-stage DCF · 0.41B shares (market data) · net debt $7.8B
mean -441.5% · volatility σ 1574% · implied rate exceeded in 4/8 yrs
Central path = implied 9.0%/yr growth; shaded band = ±1σ (1574%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.84B 100.0% | $3.61B 100.0% | $3.11B 100.0% | $3.25B 100.0% | $2.88B 100.0% | $2.77B 100.0% | $2.75B 100.0% | $2.30B 100.0% | $2.43B 100.0% | $1.94B 100.0% |
| Cost of Revenue | — | — | — | — | — | — | — | $415.5M 18.1% | $953.8M 39.3% | $517.4M 26.7% |
| Selling, General & Admin | $398.9M 10.4% | $271.5M 7.5% | $232.6M 7.5% | $194.0M 6.0% | $195.5M 6.8% | $155.8M 5.6% | $114.6M 4.2% | $67.2M 2.9% | $53.9M 2.2% | $52.4M 2.7% |
| Total Operating Expenses | $2.32B 60.3% | $2.04B 56.7% | $1.87B 60.2% | $1.95B 60.0% | $1.75B 60.7% | $2.13B 76.8% | $1.75B 63.8% | $1.64B 71.1% | $1.91B 78.4% | $1.26B 65.0% |
| Operating Income | $1.60B 41.7% | $1.97B 54.7% | $1.38B 44.4% | $1.59B 48.8% | $1.34B 46.4% | $878.9M 31.7% | $1.23B 44.8% | $861.3M 37.5% | $801.7M 33.0% | $783.1M 40.3% |
| Interest Expense | $390.5M 10.2% | $378.5M 10.5% | $348.2M 11.2% | $333.9M 10.3% | $376.5M 13.1% | $380.1M 13.7% | $303.3M 11.0% | $183.8M 8.0% | $142.5M 5.9% | $109.3M 5.6% |
| Other Income (Expense), net | $16.6M 0.4% | $31.7M 0.9% | $5.7M 0.2% | $1.6M 0.0% | -$623K -0.0% | $1.0M 0.0% | -$123.8M -4.5% | -$4.8M -0.2% | $1.4M 0.1% | $545K 0.0% |
| Pretax Income | $1.23B 31.9% | $1.63B 45.2% | $1.05B 33.9% | $1.26B 38.6% | $934.2M 32.5% | $522.9M 18.9% | $821.2M 29.9% | $689.6M 30.0% | $677.5M 27.9% | $691.3M 35.6% |
| Income Tax Expense | $15.1M 0.4% | $18.1M 0.5% | $4.4M 0.1% | $4.2M 0.1% | -$9.8M -0.3% | $6.0M 0.2% | $13.5M 0.5% | $58.9M 2.6% | -$59.9M -2.5% | $33.0M 1.7% |
| Net Income | $1.18B 30.7% | $1.57B 43.6% | $1.02B 32.9% | $1.22B 37.4% | $916.3M 31.8% | $527.0M 19.0% | $697.2M 25.4% | $551.6M 24.0% | $540.8M 22.3% | $407.1M 21.0% |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
5/7 of the 9 checks — 2 couldn't be scored (see above), so the score is out of the 7 with data.
Insufficient balance-sheet detail (needs retained earnings, working capital, equity).
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend takes 96% of free cash flow — sustainable but with limited headroom. Last year: $1.4B dividends + $0 buybacks = $1.4B returned on $1.5B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~4.5% on $8.6B of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-09-17
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 18.1 | — | — | — | — | — | — | — |
| SG&A | 2.9 | 4.2 | 5.6 | 6.8 | 6.0 | 7.5 | 7.5 | 10.4 |
| Operating Income | 37.5 | 44.8 | 31.7 | 46.4 | 48.8 | 44.4 | 54.7 | 41.7 |
| Income Tax | 2.6 | 0.5 | 0.2 | -0.3 | 0.1 | 0.1 | 0.5 | 0.4 |
| Net Income | 24.0 | 25.4 | 19.0 | 31.8 | 37.4 | 32.9 | 43.6 | 30.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on WES: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Ranked against 238 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| XOM | $682.5B | 24.4× | — | 2.0× | -5.0% | — | 8.7% | 11.1% | 10.7% | — | 4,568 |
| SHEL | $544.5B | — | — | — | — | — | — | — | — | — | 1,521 |
| CVX | $391.1B | 31.9× | — | 2.1× | -6.8% | 42.8% | 6.5% | 6.6% | 6.6% | — | 4,121 |
| TTE | $200.4B | — | — | — | — | — | — | — | — | — | 951 |
| COP | $165.9B | 20.9× | — | 2.8× | 7.7% | 62.1% | 13.6% | 12.4% | 12.2% | — | 2,450 |
| PBR | $155.6B | — | — | — | — | — | — | — | — | — | 524 |
| MPC | $126.2B | 31.3× | 10.8× | 0.9× | -4.4% | 10.0% | 3.0% | 23.4% | 20.6% | 0.2× | 1,802 |
| VLO | $124.6B | 53.3× | 23.6× | 1.0× | -5.5% | 4.4% | 1.9% | 9.9% | 7.1% | 1.7× | 1,781 |
| BP | $116.9B | — | — | — | — | — | — | — | — | — | 1,220 |
| EQNR | $110.5B | — | — | — | — | — | — | — | — | — | 398 |
| PSX | $107.4B | 24.5× | — | 0.8× | -7.5% | 12.3% | 3.3% | 15.1% | 14.6% | — | 2,041 |
| WMB | $86.6B | 33.1× | 17.6× | 7.2× | 13.8% | — | 21.9% | 20.4% | 6.3% | 4.4× | 1,736 |
| EPD | $83.3B | — | 12.5× | 1.6× | -6.4% | 26.7% | 11.0% | — | — | 3.7× | 1,573 |
| EOG | $78.7B | 15.9× | 7.7× | 3.5× | -4.5% | — | 22.0% | 16.7% | 13.2% | 0.7× | 1,525 |
| SLB | $78.2B | 22.3× | — | 2.2× | -1.6% | — | 9.4% | 12.9% | 9.4% | — | 1,624 |
| ET | $72.7B | — | 9.8× | 0.8× | 3.5% | 25.8% | 5.2% | 9.0% | 3.8% | 4.8× | 1,244 |
| KMI | $68.4B | 22.4× | 14.0× | 4.0× | 12.2% | — | 18.0% | 9.8% | 4.8% | 4.5× | 1,745 |
| TRGP | $61.1B | 33.5× | 16.2× | 3.6× | 3.9% | 38.3% | 11.3% | 62.7% | 9.4% | 3.6× | 979 |
| TS | $60.4B | — | — | — | — | — | — | — | — | — | 248 |
| LNG | $58.8B | 11.1× | 7.7× | 2.9× | 27.2% | — | 26.7% | 67.3% | 17.3% | 2.2× | 1,303 |
| MPLX | $58.7B | — | — | 4.5× | 8.9% | — | 38.1% | — | — | — | 622 |
| OXY | $58.5B | 36.9× | — | 2.7× | -1.9% | — | 11.0% | 6.6% | 4.2% | — | 1,250 |
| OKE | $58.4B | 17.1× | 12.4× | 1.7× | 55.0% | 30.5% | 10.1% | 15.1% | 6.3% | 4.4× | 1,622 |
| BKR | $55.9B | — | — | 2.0× | -0.3% | — | 9.3% | 13.7% | 13.3% | — | 1,095 |
| FANG | $55.4B | 34.0× | 11.1× | 3.7× | 35.8% | — | 11.1% | 4.5% | 3.2% | 2.3× | 1,141 |
| WES | $19.4B | — | 11.8× | 5.0× | 6.6% | — | 30.7% | — | — | 3.7× | 340 |
Peers = companies sharing WES's sector (Energy) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.