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WESTLAKE CORP

WLK Clue Score21
United States Fiscal year ends December CIK 0001262823
$62.29 -0.03% Close, 9 Oct 2026
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Price $62.29 −37.41% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue5.08Operating income0.58Net income0.40EPS, diluted3.06Fiscal year 2017Revenue8.04 +58.4%Operating income1.23Net income1.30 +226.8%EPS, diluted10.00 +226.8%Fiscal year 2018Revenue8.64 +7.4%Operating income1.41Net income1.00 −23.6%EPS, diluted7.62 −23.8%Fiscal year 2019Revenue8.12 −6.0%Operating income0.66Net income0.42 −57.7%EPS, diluted3.25 −57.3%Fiscal year 2020Revenue7.50 −7.6%Operating income0.43Net income0.33 −21.6%EPS, diluted2.56 −21.2%Fiscal year 2021Revenue11.78 +57.0%Operating income2.80Net income2.02 +510.6%EPS, diluted15.58 +508.6%Fiscal year 2022Revenue15.79 +34.1%Operating income3.05Net income2.25 +11.5%EPS, diluted17.34 +11.3%Fiscal year 2023Revenue12.55 −20.6%Operating income0.73Net income0.48 −78.7%EPS, diluted3.70 −78.7%Fiscal year 2024Revenue12.14 −3.2%Operating income0.88Net income0.60 +25.7%EPS, diluted4.64 +25.4%Fiscal year 2025Revenue11.17 −8.0%Operating income−1.58Net income−1.51 −350.5%EPS, diluted−11.70 −352.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 5.08 8.04 8.64 8.12 7.50 11.78 15.79 12.55 12.14 11.17
Growth +58.4% +7.4% −6.0% −7.6% +57.0% +34.1% −20.6% −3.2% −8.0%
Operating income 0.58 1.23 1.41 0.66 0.43 2.80 3.05 0.73 0.88 −1.58
Net income 0.40 1.30 1.00 0.42 0.33 2.02 2.25 0.48 0.60 −1.51
Growth +226.8% −23.6% −57.7% −21.6% +510.6% +11.5% −78.7% +25.7% −350.5%
EPS, diluted 3.06 10.00 7.62 3.25 2.56 15.58 17.34 3.70 4.64 −11.70
Growth +226.8% −23.8% −57.3% −21.2% +508.6% +11.3% −78.7% +25.4% −352.2%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin19.4%Operating margin11.5%Net margin7.9%Free cash flow margin4.7%Fiscal year 2017Gross margin21.9%Operating margin15.2%Net margin16.2%Free cash flow margin11.8%Fiscal year 2018Gross margin23.0%Operating margin16.3%Net margin11.5%Free cash flow margin8.2%Fiscal year 2019Gross margin15.5%Operating margin8.1%Net margin5.2%Free cash flow margin6.3%Fiscal year 2020Gross margin13.6%Operating margin5.7%Net margin4.4%Free cash flow margin10.3%Fiscal year 2021Gross margin29.7%Operating margin23.8%Net margin17.1%Free cash flow margin14.7%Fiscal year 2022Gross margin25.8%Operating margin19.3%Net margin14.2%Free cash flow margin14.5%Fiscal year 2023Gross margin17.7%Operating margin5.8%Net margin3.8%Free cash flow margin10.4%Fiscal year 2024Gross margin16.1%Operating margin7.2%Net margin5.0%Free cash flow margin2.5%Fiscal year 2025Gross margin7.3%Operating margin−14.1%Net margin−13.5%Free cash flow margin−4.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 19.4% 21.9% 23.0% 15.5% 13.6% 29.7% 25.8% 17.7% 16.1% 7.3%
Operating margin 11.5% 15.2% 16.3% 8.1% 5.7% 23.8% 19.3% 5.8% 7.2% −14.1%
Net margin 7.9% 16.2% 11.5% 5.2% 4.4% 17.1% 14.2% 3.8% 5.0% −13.5%
Free cash flow margin 4.7% 11.8% 8.2% 6.3% 10.3% 14.7% 14.5% 10.4% 2.5% −4.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.87Capital expenditure−0.63Free cash flow0.24Buybacks−0.07Dividends paid−0.10Fiscal year 2017Operating cash flow1.53Capital expenditure−0.58Free cash flow0.95 +299.6%Buybacks0.00Dividends paid−0.10Fiscal year 2018Operating cash flow1.41Capital expenditure−0.70Free cash flow0.71 −25.7%Buybacks−0.11Dividends paid−0.12Fiscal year 2019Operating cash flow1.30Capital expenditure−0.79Free cash flow0.51 −27.3%Buybacks−0.03Dividends paid−0.13Fiscal year 2020Operating cash flow1.30Capital expenditure−0.53Free cash flow0.77 +50.2%Buybacks−0.05Dividends paid−0.14Fiscal year 2021Operating cash flow2.39Capital expenditure−0.66Free cash flow1.74 +124.9%Buybacks−0.03Dividends paid−0.15Fiscal year 2022Operating cash flow3.40Capital expenditure−1.11Free cash flow2.29 +31.7%Buybacks−0.10Dividends paid−0.17Fiscal year 2023Operating cash flow2.34Capital expenditure−1.03Free cash flow1.30 −43.1%Buybacks−0.02Dividends paid−0.22Fiscal year 2024Operating cash flow1.31Capital expenditure−1.01Free cash flow0.31 −76.5%Buybacks−0.06Dividends paid−0.26Fiscal year 2025Operating cash flow0.47Capital expenditure−1.00Free cash flow−0.53 −273.2%Buybacks−0.06Dividends paid−0.27
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.87 1.53 1.41 1.30 1.30 2.39 3.40 2.34 1.31 0.47
Capital expenditure −0.63 −0.58 −0.70 −0.79 −0.53 −0.66 −1.11 −1.03 −1.01 −1.00
Free cash flow 0.24 0.95 0.71 0.51 0.77 1.74 2.29 1.30 0.31 −0.53
Growth +299.6% −25.7% −27.3% +50.2% +124.9% +31.7% −43.1% −76.5% −273.2%
Buybacks −0.07 0.00 −0.11 −0.03 −0.05 −0.03 −0.10 −0.02 −0.06 −0.06
Dividends paid −0.10 −0.10 −0.12 −0.13 −0.14 −0.15 −0.17 −0.22 −0.26 −0.27

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.46Total debt3.68Net cash (debt)−3.22Shareholders’ equity3.52Debt to equity1.04Fiscal year 2017Cash1.53Total debt3.84Net cash (debt)−2.31Shareholders’ equity4.87Debt to equity0.79Fiscal year 2018Cash0.75Total debt2.67Net cash (debt)−1.92Shareholders’ equity5.59Debt to equity0.48Fiscal year 2019Cash0.73Total debt3.45Net cash (debt)−2.72Shareholders’ equity5.86Debt to equity0.59Fiscal year 2020Cash1.31Total debt3.57Net cash (debt)−2.25Shareholders’ equity6.04Debt to equity0.59Fiscal year 2021Cash1.91Total debt5.18Net cash (debt)−3.27Shareholders’ equity7.96Debt to equity0.65Fiscal year 2022Cash2.23Total debt4.88Net cash (debt)−2.65Shareholders’ equity9.93Debt to equity0.49Fiscal year 2023Cash3.30Total debt4.91Net cash (debt)−1.60Shareholders’ equity10.24Debt to equity0.48Fiscal year 2024Cash2.92Total debt4.56Net cash (debt)−1.64Shareholders’ equity10.53Debt to equity0.43Fiscal year 2025Cash2.72Total debt5.58Net cash (debt)−2.86Shareholders’ equity8.79Debt to equity0.64
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.46 1.53 0.75 0.73 1.31 1.91 2.23 3.30 2.92 2.72
Total debt 3.68 3.84 2.67 3.45 3.57 5.18 4.88 4.91 4.56 5.58
Net cash (debt) −3.22 −2.31 −1.92 −2.72 −2.25 −3.27 −2.65 −1.60 −1.64 −2.86
Shareholders’ equity 3.52 4.87 5.59 5.86 6.04 7.96 9.93 10.24 10.53 8.79
Debt to equity 1.04 0.79 0.48 0.59 0.59 0.65 0.49 0.48 0.43 0.64

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
19.4% 21.9% 23.0% 15.5% 13.6% 29.7% 25.8% 17.7% 16.1% 7.3%
11.5% 15.2% 16.3% 8.1% 5.7% 23.8% 19.3% 5.8% 7.2% −14.1%
11.0% 13.4% 15.4% 7.0% 4.4% 22.7% 18.7% 5.6% 7.7% −14.3%
7.9% 16.2% 11.5% 5.2% 4.4% 17.1% 14.2% 3.8% 5.0% −13.5%
4.7% 11.8% 8.2% 6.3% 10.3% 14.7% 14.5% 10.4% 2.5% −4.7%
Spending
5.1% 5.0% 5.2% 5.6% 6.0% 4.7% 5.3% 6.9% 7.2% 8.1%
12.4% 7.2% 8.1% 9.7% 7.0% 5.6% 7.0% 8.2% 8.3% 8.9%
24.7% −23.9% 22.5% 18.9% −12.7% 22.7% 22.0% 25.4% 31.0% n/a
Returns
11.3% 26.8% 17.8% 7.2% 5.5% 25.3% 22.6% 4.7% 5.7% −17.2%
3.7% 10.8% 8.6% 3.2% 2.4% 10.9% 10.9% 2.3% 2.9% −7.6%
Balance and payout
1.04 0.79 0.48 0.59 0.59 0.65 0.49 0.48 0.43 0.64
64.3% 55.5% 47.6% 51.7% 52.5% 53.8% 49.1% 48.8% 46.8% 53.4%
24.3% 7.9% 12.0% 31.4% 41.5% 7.2% 7.5% 46.1% 43.9% n/a
68.9% 10.8% 32.0% 31.5% 24.7% 10.1% 11.8% 18.7% 105.9% n/a