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Westlake Corp (WLK) stock

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NYSE: WLK NYSE Commodity Chemicals Next results ~November 4, 2026

C Fundamentals grade

Westlake Corp is a US-listed company in the commodity chemicals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$45

Cash-flow model

Base case. Range ~$26–$70 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 37% below it.

Price used: $71.17, November 2, 2026

Westlake Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 3 selling0 purchases and 9 sales by directors and officers, last 12 monthsInsider trades
  • Funds186 adding, 184 cuttingOf 56 active managers that changed their stake, 31 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Westlake files

Where Westlake stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $11.3bn, down 4.0% on a year earlier, faster than -8.6% a quarter earlier. That puts it 891 of 931 for growth among all the companies we cover. Free-cash-flow margin fell to -2.3% from -0.5% a year earlier. Operating margin narrowed to -11.0% from 0.9%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 7 financial-health checks. Our cash-flow model value is $31.19 a share, against a share price of $62.50.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Westlake Corp's trailing-twelve-month revenue fell 4.0% year on year, with a free-cash-flow margin of -2.3%. Where it stands out: long-term debt as % of assets of 26.1% ranks 2 of 12 commodity chemicals companies we cover. Where it lags: operating margin of -11.0% ranks 10 of 10 commodity chemicals companies we cover.

Our discounted-cash-flow model values the business at ~$45 per share in the base case (~$26–$70 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 390.7% while net income fell 1743.3%: a 1353pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Westlake Corp's latest figures clears our strength thresholds.

Things to watch

  • Results due soon. Results are expected around 3 November; the share price can move sharply on the day.
  • Priced above our value. The share price of $71.17 is 37% above our value per share of $45.
  • Revenue shrinking. Revenue fell 4.0% over the last 12 months.
  • Loss-making. Operating margin is -11.0%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 11.9 points on a year ago.
  • Burning cash. Free cash flow was -2.3% of revenue over the last 12 months.

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$2.01 against an average estimate of $1.89: beat by 6.6%
Revenue
$3.27bn, up 10.8% on a year earlier
Share reaction
+12.7% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Next report
November 4, 2026; average EPS estimate $0.50

Westlake's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+4.2%
  • 1 week+9.0%
  • 1 month+12.1%
  • This year-2.0%
  • 1 year+6.2%
  • 5 years-22.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$11.3B
Operating margin
-11.0%
Net margin
-10.9%
EPS (TTM, diluted)
$-9.63

Growth

Revenue growth
−4.0%
Change in growth rate
+4.7 pts
Share count change
−0.4%

Cash

Free cash flow (TTM)
-$265M
FCF margin
-2.3%
Stock pay % of revenue
0.4%

Earnings

Last results
August 4, 2026
Next results (est.)
November 3, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Restructuring
  2. Leadership
  3. Insider trade
  4. Results
  5. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Westlake Corp valuation models and calculator

What the price is pricing in

The share price implies about 7.2% a year of cash-flow growth for five years.That is faster than the -0.8% a year revenue growth Westlake has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in7.2%
  • Last 12 months-4.0%
  • 3 years a year-6.6%
  • 5 years a year-0.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($69.91, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$45
Price used
$69.91close November 3, 2026
Implied change
▼ 36%
Uncertainty
High

How we got here: a discounted-cash-flow model of Westlake Corp's free cash flow after stock-based pay with after-tax interest added back ($581M, FY2026 Q2 TTM), growing 3.4% and 1.9% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$26–~$70 ; that spread sets a 35% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Westlake Corp's free cash flow after stock-based pay ( $581M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Westlake Corp as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.89 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$45 ~$26–$70 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$29 ~$21–$44 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$57 ~$40–$82 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$52 ~$44–$62 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$45 ~$29–$57 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Westlake Corp with Commodity Chemicals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $34$57$88$129$182$251
8.5% $19$36$58$87$125$174
10% $9$22$40$62$91$128

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$45.90$48.07$92.47$58.01$62.49$74.06$89.27$95.35$131.95$109.65$72.62$71.17
Market value$6.1bn$6.2bn$12.0bn$7.5bn$8.0bn$9.5bn$11.5bn$12.3bn$17.0bn$14.2bn$9.3bn$9.1bn
+ Net debt (− = net cash)$102m$3.4bn$2.3bn$2.0bn$2.8bn$2.3bn$3.4bn$2.7bn$1.7bn$1.7bn$3.0bn$3.5bn
Enterprise value$6.2bn$9.6bn$14.3bn$9.5bn$10.8bn$11.8bn$14.9bn$15.0bn$18.7bn$15.9bn$12.3bn$12.6bn
Multiples
Price / sales 1.4x1.2x1.5x0.9x1.0x1.3x1.0x0.8x1.4x1.2x0.8x0.8x
Price / earnings 9.4x15.7x9.2x7.6x19.1x28.7x5.7x5.5x35.4x23.5x——
Price / free cash flow 10.3x26.2x12.6x10.7x15.7x12.3x6.6x5.4x13.0x46.3x——
EV / EBITDA 5.1x10.0x7.8x4.6x7.9x9.8x4.1x3.7x10.2x8.0x——

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

43 /100

Weak moat

How hard Westlake's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 9 / 20

    Cash operating profit has been a median 7.6% of total assets over 9 years.

  • Pricing power 4 / 20

    Gross margin has been a median 18.1%, moving by 6.3 percentage points (standard deviation) across 10 years.

  • Durability 2 / 20

    Operating margin has been a median 10.6%; its worst year was -11.0%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 8 of 10 years, at a median 7.6% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 0.1% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, before the open. Analysts expect revenue of $2.9bn and EPS of $0.50 (range $0.28 to $0.80) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.05 +328% $11.6bn +4%
Next $2.43 +19% $11.9bn +2%

Next year's EPS estimate has moved −28.3% in 90 days, across 14 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −35.6% on 90 days ago. In the last 30 days, 0 analysts raised Westlake Corp's forecast and 7 cut it.

Consensus EPS forecast Westlake Corp, last 90 days
$2.00 $2.50 $3.00 $3.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.18 Current fiscal year, 60 days ago: $3.22 Current fiscal year, 30 days ago: $3.17 Current fiscal year, 7 days ago: $2.37 Current fiscal year, Now: $2.05 $2.05 Next fiscal year, 90 days ago: $3.39 Next fiscal year, 60 days ago: $3.36 Next fiscal year, 30 days ago: $3.18 Next fiscal year, 7 days ago: $2.66 Next fiscal year, Now: $2.43 $2.43

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.18$3.39
60 days ago $3.22$3.36
30 days ago $3.17$3.18
7 days ago $2.37$2.66
Now $2.05$2.43

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.89 $2.01 +6.6%
Mar 2026 −$0.24 −$0.77 −225.0%
Dec 2025 −$1.47 −$0.25 +83.0%
Sept 2025 $0.23 −$0.29 −227.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 4, 2026

No numeric guidance in Westlake Corp's latest earnings release (filed August 4, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Westlake Corp's revenue by +3.4% next year and +1.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+4.0%, weight 69%) and the company's own record (+2.0%, weight 31%) . How the weights are set.

Analyst recommendations

17 analysts, Oct 2026
Buy635%
Hold1059%
Sell16%

Monthly trend

  1. Oct 2026241017
  2. Sep 2026241016
  3. Aug 202624915
  4. Jul 202624915

Counts of recommendations published by analysts covering Westlake Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
13.1%
of tradable shares
Days to cover
4.7
at average volume
Short interest, 1 month
−20%
to October 15, 2026
Held by institutions
32%
of shares
Held by insiders
74.5%
of shares
Employees
14,600
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +6.2%

$66.99 on October 31, 2025 to $71.17

ThenNowEffect
Revenue (last 12 months) $11.8bn $11.3bn −4.0%
P/S multiple 0.7x 0.8x +10.2%
Share count 129m 128m +0.4%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −38.7%

$116.12 on November 3, 2023 to $71.17

ThenNowEffect
Revenue (last 12 months) $13.9bn $11.3bn −18.5%
P/S multiple 1.1x 0.8x −24.9%
Share count 129m 128m +0.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
WLK+21%+7%+38%−17%−34%−2%
Industry peers (median)+31%−7%+5%−21%−37%+18%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
WLK67%67%42%42%33%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
WLK−25%−41%−17%−29%−52%−50%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 75% from May 21, 2018 to March 16, 2020. Getting back needed a 303% gain, reached on March 10, 2022, 724 days after the low.

Price behaviour

52-week range
$54.89 – $121.80
From 52-week high
−41.6%
vs 50-day average
+5.0%
vs 200-day average
−17.3%
Volatility (1 year)
43%
Beta vs S&P 500
0.33

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±7.3%
After a week
6 up, 6 down
typical move ±8.0%
After a month
7 up, 5 down
typical move ±11.4%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 +12.7% +1.6% +15.7% +9.9%
May 5, 2026 −13.0% +2.2% −16.0% −25.3%
February 24, 2026 +10.8% +1.6% +11.2% +23.4%
October 30, 2025 −6.3% −0.8% −12.3% −7.2%
August 5, 2025 +6.4% +0.3% +3.8% +15.7%
May 2, 2025 −15.2% +0.9% −13.3% −22.0%
February 24, 2025 +2.2% −1.0% −0.9% −7.8%
November 5, 2024 +4.3% +3.7% −2.8% −5.7%
August 6, 2024 +7.5% +0.2% +8.7% +2.6%
May 1, 2024 +1.5% +0.6% +5.1% +9.3%
February 20, 2024 −6.0% −0.5% −4.8% +4.7%
February 6, 2024 +2.0% +1.1% +1.1% +3.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Westlake Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Westlake Corp in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Westlake Corp
$10B $11B $12B $13B $14B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $13B Revenue (TTM), FY23 Q4: $12.5B Revenue (TTM), FY24 Q1: $12.2B Revenue (TTM), FY24 Q2: $12.1B Revenue (TTM), FY24 Q3: $12.1B Revenue (TTM), FY24 Q4: $12.1B Revenue (TTM), FY25 Q1: $12B Revenue (TTM), FY25 Q2: $11.8B Revenue (TTM), FY25 Q3: $11.5B Revenue (TTM), FY25 Q4: $11.2B Revenue (TTM), FY26 Q1: $11B Revenue (TTM), FY26 Q2: $11.3B $11.3B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $13B
FY23 Q4 $12.5B
FY24 Q1 $12.2B
FY24 Q2 $12.1B
FY24 Q3 $12.1B
FY24 Q4 $12.1B
FY25 Q1 $12B
FY25 Q2 $11.8B
FY25 Q3 $11.5B
FY25 Q4 $11.2B
FY26 Q1 $11B
FY26 Q2 $11.3B
Revenue growth, TTM YoY Westlake Corp
-30% -20% -10% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -18.6% Revenue growth, TTM YoY, FY23 Q4: -20.6% Revenue growth, TTM YoY, FY24 Q1: -19.4% Revenue growth, TTM YoY, FY24 Q2: -12.5% Revenue growth, TTM YoY, FY24 Q3: -6.9% Revenue growth, TTM YoY, FY24 Q4: -3.2% Revenue growth, TTM YoY, FY25 Q1: -1.3% Revenue growth, TTM YoY, FY25 Q2: -3.0% Revenue growth, TTM YoY, FY25 Q3: -5.3% Revenue growth, TTM YoY, FY25 Q4: -8.0% Revenue growth, TTM YoY, FY26 Q1: -8.6% Revenue growth, TTM YoY, FY26 Q2: -4.0% -4.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -18.6%
FY23 Q4 -20.6%
FY24 Q1 -19.4%
FY24 Q2 -12.5%
FY24 Q3 -6.9%
FY24 Q4 -3.2%
FY25 Q1 -1.3%
FY25 Q2 -3.0%
FY25 Q3 -5.3%
FY25 Q4 -8.0%
FY26 Q1 -8.6%
FY26 Q2 -4.0%
Operating margin (TTM) Westlake Corp
-20% -10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 12.3% Operating margin (TTM), FY23 Q4: 5.8% Operating margin (TTM), FY24 Q1: 3.4% Operating margin (TTM), FY24 Q2: 3.5% Operating margin (TTM), FY24 Q3: 2.1% Operating margin (TTM), FY24 Q4: 7.2% Operating margin (TTM), FY25 Q1: 5.2% Operating margin (TTM), FY25 Q2: 0.9% Operating margin (TTM), FY25 Q3: -7.3% Operating margin (TTM), FY25 Q4: -14.1% Operating margin (TTM), FY26 Q1: -15.7% Operating margin (TTM), FY26 Q2: -11.0% -11.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 12.3%
FY23 Q4 5.8%
FY24 Q1 3.4%
FY24 Q2 3.5%
FY24 Q3 2.1%
FY24 Q4 7.2%
FY25 Q1 5.2%
FY25 Q2 0.9%
FY25 Q3 -7.3%
FY25 Q4 -14.1%
FY26 Q1 -15.7%
FY26 Q2 -11.0%
FCF margin (TTM) Westlake Corp
-5% 0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 11.9% FCF margin (TTM), FY23 Q4: 10.4% FCF margin (TTM), FY24 Q1: 7.8% FCF margin (TTM), FY24 Q2: 5.3% FCF margin (TTM), FY24 Q3: 3.7% FCF margin (TTM), FY24 Q4: 2.5% FCF margin (TTM), FY25 Q1: 0.7% FCF margin (TTM), FY25 Q2: -0.5% FCF margin (TTM), FY25 Q3: -3.2% FCF margin (TTM), FY25 Q4: -4.7% FCF margin (TTM), FY26 Q1: -4.6% FCF margin (TTM), FY26 Q2: -2.3% -2.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 11.9%
FY23 Q4 10.4%
FY24 Q1 7.8%
FY24 Q2 5.3%
FY24 Q3 3.7%
FY24 Q4 2.5%
FY25 Q1 0.7%
FY25 Q2 -0.5%
FY25 Q3 -3.2%
FY25 Q4 -4.7%
FY26 Q1 -4.6%
FY26 Q2 -2.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 2.3 3.2 3.6 3.6 3.8 4.4 4.5 5.1 8.0 8.6 8.1 7.5 11.8 15.8 12.5 12.1 11.2 11.3
Gross profit 0.2 0.5 0.6 0.7 1.1 1.3 1.2 1.0 1.8 2.0 1.3 1.0 3.5 4.1 2.2 2.0 0.8 1.1
EBITDA 0.2 0.5 0.6 0.8 1.1 1.3 1.2 1.0 1.8 2.0 1.4 1.2 3.6 4.1 1.8 2.0 −0.4 −0.1
Operating income 0.1 0.4 0.4 0.6 1.0 1.1 1.0 0.6 1.2 1.4 0.7 0.4 2.8 3.1 0.7 0.9 −1.6 −1.2
Net income 0.1 0.2 0.3 0.4 0.6 0.7 0.6 0.4 1.3 1.0 0.4 0.3 2.0 2.2 0.5 0.6 −1.5 −1.2
Diluted EPS $0.40 $1.67 $1.94 $2.88 $4.55 $5.07 $4.86 $3.06 $10.00 $7.62 $3.25 $2.56 $15.58 $17.34 $3.70 $4.64 −$11.70 −$9.63
Growth (year on year)
Revenue — +36.4% +14.1% −1.3% +5.3% +17.4% +1.1% +13.7% +58.4% +7.4% −6.0% −7.6% +57.0% +34.1% −20.6% −3.2% −8.0% −4.0%
EBITDA — +120.0% +14.0% +31.4% +46.2% +19.9% −9.5% −20.3% +90.0% +12.2% −33.2% −12.2% +202.8% +12.8% −55.5% +8.9% −120.1% −106.0%
Operating income — +252.8% +18.1% +37.7% +54.9% +17.9% −14.6% −39.3% +110.1% +14.9% −53.4% −34.6% +552.7% +8.9% −76.1% +20.0% −280.3% —
Net income — +317.8% +17.0% +48.9% +58.3% +11.2% −4.8% −38.2% +226.8% −23.6% −57.7% −21.6% +510.6% +11.5% −78.7% +25.7% −350.5% —
Diluted EPS — +317.5% +15.9% +48.8% +58.0% +11.4% −4.1% −37.0% +226.8% −23.8% −57.3% −21.2% +508.6% +11.3% −78.7% +25.4% −352.2% —
Margins
Gross margin 8.4% 15.2% 15.4% 20.6% 29.3% 29.8% 26.6% 19.4% 21.9% 23.0% 15.5% 13.6% 29.7% 25.8% 17.7% 16.1% 7.3% 9.6%
EBITDA margin 9.9% 16.0% 16.0% 21.3% 29.6% 30.2% 27.0% 18.9% 22.7% 23.7% 16.9% 16.0% 30.9% 26.0% 14.6% 16.4% −3.6% −0.7%
Operating margin 4.6% 11.9% 12.3% 17.2% 25.4% 25.5% 21.5% 11.5% 15.2% 16.3% 8.1% 5.7% 23.8% 19.3% 5.8% 7.2% −14.1% −11.0%
Net margin 2.3% 7.0% 7.2% 10.8% 16.2% 15.4% 14.5% 7.9% 16.2% 11.5% 5.2% 4.4% 17.1% 14.2% 3.8% 5.0% −13.5% −10.9%
Free-cash-flow margin 5.8% 6.4% 5.0% 6.3% 2.0% 13.6% 13.2% 4.7% 11.8% 8.2% 6.3% 10.3% 14.7% 14.5% 10.4% 2.5% −4.7% −2.3%
Cash flow
Cash from operations 0.2 0.3 0.4 0.6 0.8 1.0 1.1 0.9 1.5 1.4 1.3 1.3 2.4 3.4 2.3 1.3 0.5 0.6
Capital spending 0.1 0.1 0.2 0.4 0.7 0.4 0.5 0.6 0.6 0.7 0.8 0.5 0.7 1.1 1.0 1.0 1.0 0.9
Free cash flow 0.1 0.2 0.2 0.2 0.1 0.6 0.6 0.2 1.0 0.7 0.5 0.8 1.7 2.3 1.3 0.3 −0.5 −0.3
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Free cash flow after stock pay 0.1 0.2 0.2 0.2 0.1 0.6 0.6 0.2 0.9 0.7 0.5 0.7 1.7 2.3 1.3 0.3 −0.6 −0.3
Balance sheet
Cash 0.2 0.6 0.8 0.8 0.5 0.9 0.7 0.5 1.5 0.8 0.7 1.3 1.9 2.2 3.3 2.9 2.7 1.6
Total debt 0.0 0.8 0.8 0.8 0.8 0.8 0.8 3.8 3.9 2.7 3.5 3.6 5.3 5.0 5.0 4.6 5.7 5.2
Net debt (negative = net cash) −0.2 0.1 −0.1 −0.0 0.3 −0.1 0.1 3.4 2.3 2.0 2.8 2.3 3.4 2.7 1.7 1.7 3.0 3.5
Diluted shares 131m 131m 133m 133m 134m 134m 132m 130m 130m 130m 129m 128m 129m 129m 129m 129m 128m 128m
Returned to shareholders
Dividends 0.0 0.0 0.0 0.3 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.3
Buybacks — 0.0 0.0 0.0 0.0 0.1 0.2 0.1 0.0 0.1 0.0 0.1 0.0 0.1 0.0 0.1 0.1 0.1
Total returned 0.0 0.0 0.0 0.3 0.1 0.1 0.3 0.2 0.1 0.2 0.2 0.2 0.2 0.3 0.2 0.3 0.3 0.3

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 7 checks passed · June 30, 2026
What it owns · $19.4bn
Short-term assets $5.7bnLonger-term assets $13.8bn
What it owes, and who funded it · $18.9bn
Short-term liabilities $2.3bnLonger-term liabilities $7.9bnShareholders' equity $8.7bn
  • Short-term assets cover short-term liabilities $5.7bn of assets due within a year against $2.3bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $5.7bn short-term assets against $7.9bn of longer-dated liabilities.
  • More cash than debt $1.6bn of cash against $5.1bn of debt.
  • Debt below 40% of shareholders' equity Debt is 58% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 62% to 58% over five years.
  • A year's operating cash flow covers at least 20% of debt $631m of operating cash flow against $5.1bn of debt.
  • Operating profit covers interest at least five times over Operating income of −$1.2bn against $203m of interest.

From Westlake Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$63M
Dividends (TTM)
$273M
Returned to shareholders
-127%
of free cash flow
Buybacks, last 3 fiscal years
$146M
Diluted share count
−0.4%
year over year
Total shareholder yield
3.7%
dividends 3.0% + buybacks 0.7% of market value
Sales & admin spending
8.3%
of revenue
Days sales outstanding
55 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in commodity chemicals
Last 12 months unless stated WLK OLN CC MEOH TROX DOW Median
Revenue, last 12 months $11.3bn $6.7bn $5.8bn $3.6bn $3.1bn $42.6bn $2.2bn
Revenue growth, last 12 months −4.0% −0.7% −0.9% −3.5% 3.7% 4.2% −0.7%
Revenue growth, 3-year average −6.6% −2.2% −2.9% — 0.1% −2.4% −2.4%
Revenue growth, latest quarter 10.8% 2.0% −1.5% — 18.7% 13.0% 9.0%
Gross margin 9.6% 6.7% 15.3% 35.7% 6.2% 11.1% 11.8%
Operating margin −11.0% −1.9% — 12.0% −7.2% — −1.8%
Operating margin, 3-year average −2.2% 2.2% — 14.6% −0.5% — 3.2%
Net margin −10.9% −3.3% −5.2% 4.0% −18.0% −2.1% −4.6%
Cash from operations / revenue 5.6% 5.8% 6.8% 28.3% 3.3% 10.7% 5.8%
Free-cash-flow margin −2.3% 3.3% 3.8% 25.5% −5.2% 4.3% 2.9%
Free-cash-flow margin, 3-year average 0.8% 4.4% −3.0% 22.6% −4.6% 3.4% 0.6%
Stock pay / revenue 0.4% 0.4% 0.4% −0.1% 0.7% — 0.4%
Change in share count −0.4% −2.4% 0.4% 7.5% 0.7% 1.9% 0.0%

Median of all 13 companies we cover in commodity chemicals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

13 commodity chemicals companies
Measure Company Peer median Rank
Revenue growth Growth -4.0% -0.7% 12 of 13
Change in growth rate Growth +4.7pp +3.6pp 4 of 13
Gross margin Profitability 9.6% 11.8% 9 of 13
Operating margin Profitability -11.0% -1.7% 10 of 10
Net margin Profitability -10.9% -4.6% 12 of 13
Free-cash-flow margin Cash generation -2.3% 2.9% 11 of 13
Stock pay as % of revenue Cash generation 0.4% 0.4% 3 of 10
Long-term debt as % of assets Balance sheet 26.1% 37.2% 2 of 12
Change in share count Balance sheet -0.4% 0.4% 4 of 12
Days sales outstanding Balance sheet 55 days 47 days 8 of 9

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue Share YoY
United States $8B 71.2% ▼ 9.1%
Other Foreign Countries $1.1B 9.7% ▼ 9.9%
Canada $777M 7.0% ▼ 1.9%
Germany $583M 5.2% ▼ 1.9%
Mexico $194M 1.7% ▼ 5.8%
China $162M 1.5% ▼ 16.9%
Brazil $153M 1.4% ▲ 7.7%
IT $144M 1.3% ▼ 0.7%
France $125M 1.1% ▲ 4.2%

From Westlake Corp's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.9B
Institutions reporting
355
Shares held vs prior quarter
▼ 9.8%
Positions opened / closed
77 / 65

Top buyers and sellers, Q2 2026: 186 institutions bought and 184 sold ; the biggest buyer was AQR Capital Management LLC (+1.3M shares) and the biggest seller Orbis Allan Gray Ltd (−3.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $240M 3.3M 8.3% ▲ 7.0%
Capital World Investors $207M 2.8M 7.1% ▼ 32.5%
Price T Rowe Associates Inc $161M 2.2M 5.5% ▼ 8.3%
Orbis Allan Gray Ltd $152M 2.1M 5.2% ▼ 60.6%
Dimensional Fund Advisors LP $150M 2.1M 5.1% ▲ 39.9%
Vanguard Portfolio Management LLC $128M 1.8M 4.4% ▼ 1.0%
Brandes Investment Partners, LP $115M 1.6M 3.9% ▼ 14.6%
AQR Capital Management LLC $115M 1.6M 3.9% ▲ 503.9%
Vanguard Capital Management LLC $107M 1.5M 3.7% ▲ 0.6%
State Street Corp $106M 1.5M 3.6% ▲ 5.3%
Goldman Sachs Group Inc $93.5M 1.3M 3.2% ▼ 8.1%
Citadel Advisors LLC $77M 1.1M 2.6% ▲ 47.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Westlake Corp's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $10.2M 9 trades by 3 insiders · 0% under pre-set plans
Net ▼ $10.2M net selling
Insider Date Trade Shares Price Value
Chao Albert Executive Chairman August 11, 2026 Sell 7,489 $79.70 $596,873
Chao Albert Executive Chairman August 11, 2026 Sell 31,384 $80.42 $2.5M
Bender Mark Steven EVP & CFO March 27, 2026 Sell 16,413 $112.54 $1.8M
Buesinger Robert F. EVP, PEM Segment Head March 27, 2026 Sell 4,000 $115.25 $461,000
Bender Mark Steven EVP & CFO February 27, 2026 Sell 16,988 $100.91 $1.7M
Bender Mark Steven EVP & CFO February 27, 2026 Sell 421 $101.52 $42,740
Chao Albert Executive Chairman December 22, 2025 Sell 30,604 $73.80 $2.3M
Chao Albert Executive Chairman December 22, 2025 Sell 9,711 $72.82 $707,155
Chao Albert Executive Chairman December 22, 2025 Sell 521 $74.44 $38,783

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 5 trades and filings

No trades in Westlake Corp disclosed in the last 12 months; 5 earlier trades on record.

  • Susie Lee(D-NV 3):Sale (full), $1,001 - $15,000, traded June 10, 2021, filed July 13, 2021
  • Peter Meijer(R-MI 3):Sale (full), $1,001 - $15,000, traded February 16, 2021, filed March 16, 2021
  • Susie Lee(D-NV 3):Purchase, $1,001 - $15,000, traded December 16, 2020, filed January 11, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 3, 2026 estimated from the company's past filing pattern, not announced

  • August 4, 2026
  • May 5, 2026
  • February 24, 2026
  • October 30, 2025
  • August 5, 2025
  • May 2, 2025

Recent SEC filings

Data status

When each part of this page on Westlake Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Westlake Corp in brief

What does Westlake Corp do?
Westlake Corp is a US-listed company in the commodity chemicals industry. Its financial year ends in December.
What is Westlake Corp's stock ticker?
Westlake Corp trades under the ticker WLK on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Westlake Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Westlake Corp reported revenue of $11.3B, 4.0% lower than a year earlier, according to its SEC filings.
What is Westlake Corp's free cash flow?
Westlake Corp's free-cash-flow margin is -2.3% of revenue over the trailing twelve months, ranking 11 of the 13 commodity chemicals companies we cover.
What is Westlake Corp's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Westlake Corp's free cash flow after stock-based pay gives ~$45 per share in the base case, and ~$26–$70 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Westlake Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Capital World Investors and Price T Rowe Associates Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Westlake Corp buying back stock, and does it pay a dividend?
Westlake Corp spent $63M on share repurchases over the trailing twelve months, and its diluted share count fell 0.4% over the year.
What is Westlake Corp's market cap?
On November 2, 2026, Westlake Corp's market capitalisation was about $9.1B and net debt of $3.5B. Market figures come from third-party market data and may be delayed.
Does Westlake Corp pay a dividend?
Yes: Westlake Corp paid $273M in dividends over the trailing twelve months, a dividend yield of 2.99%.
How much debt does Westlake Corp have?
Westlake Corp's debt-to-equity ratio is 58.2%, from its latest balance sheet (61.7% five years earlier). The financial health section below sets out its other solvency checks.
Who are Westlake Corp's competitors?
In our Commodity Chemicals peer group, the companies closest to Westlake Corp are Olin Corp, Chemours Co, Methanex Corp, Tronox Holdings plc and Dow Inc. The side-by-side comparison below sets their revenue, margins and growth against Westlake Corp's.
Are insiders buying or selling Westlake Corp stock?
Over the last 12 months, Westlake Corp's directors and officers reported 0 open-market purchases and 9 sales on Form 4. The insider trading page charts every trade.
When is Westlake Corp's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Westlake Corp announces its own schedule.