Stock WLK WESTLAKE CORPORATION
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Financials Westlake Corporation

Equities

WLK

US9604131022

Commodity Chemicals

Market Closed - Nyse
Other stock markets
 04:00:01 2024-04-26 pm EDT 		5-day change 1st Jan Change
149.6 USD +0.80% Intraday chart for Westlake Corporation -0.80% +6.85%
Apr. 19 RBC Raises Price Target on Westlake to $153 From $134, Keeps Sector Perform Rating MT
Apr. 18 Deutsche Bank Upgrades Westlake to Buy from Hold, Raises Price Target to $174 from $138 MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 9,003 10,422 12,415 13,078 17,935 19,219 - -
Enterprise Value (EV) 1 11,720 12,675 15,687 15,729 19,537 20,529 19,863 19,172
P/E ratio 21.6 x 31.9 x 6.23 x 5.91 x 37.8 x 21 x 16.3 x 14.4 x
Yield 1.46% 1.31% 1.17% 1.28% 1.22% 1.34% 1.43% 1.59%
Capitalization / Revenue 1.11 x 1.39 x 1.05 x 0.83 x 1.43 x 1.56 x 1.47 x 1.4 x
EV / Revenue 1.44 x 1.69 x 1.33 x 1 x 1.56 x 1.66 x 1.52 x 1.4 x
EV / EBITDA 8.33 x 10.2 x 4.25 x 3.76 x 7.47 x 8.23 x 6.95 x 6.13 x
EV / FCF 22.8 x 16.4 x 9.04 x 6.88 x 15 x 21.6 x 16.4 x 14.6 x
FCF Yield 4.39% 6.09% 11.1% 14.5% 6.66% 4.64% 6.11% 6.86%
Price to Book 1.54 x 1.73 x 1.56 x 1.32 x 1.76 x 1.35 x 1.29 x 1.23 x
Nbr of stocks (in thousands) 128,340 127,722 127,822 127,538 128,141 128,511 - -
Reference price 2 70.15 81.60 97.13 102.5 140.0 149.6 149.6 149.6
Announcement Date 2/18/20 2/23/21 2/22/22 2/21/23 2/20/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 8,118 7,504 11,778 15,794 12,548 12,337 13,081 13,712
EBITDA 1 1,407 1,246 3,693 4,179 2,615 2,495 2,859 3,125
EBIT 1 656 429 2,800 3,050 729 1,364 1,714 1,984
Operating Margin 8.08% 5.72% 23.77% 19.31% 5.81% 11.06% 13.1% 14.47%
Earnings before Tax (EBT) 1 570 331 2,677 2,946 700 1,264 1,557 1,711
Net income 1 421 330 2,015 2,247 479 914.1 1,173 1,272
Net margin 5.19% 4.4% 17.11% 14.23% 3.82% 7.41% 8.97% 9.27%
EPS 2 3.250 2.560 15.58 17.34 3.700 7.129 9.179 10.41
Free Cash Flow 1 514 772 1,736 2,287 1,302 952.5 1,214 1,316
FCF margin 6.33% 10.29% 14.74% 14.48% 10.38% 7.72% 9.28% 9.6%
FCF Conversion (EBITDA) 36.53% 61.96% 47.01% 54.73% 49.79% 38.18% 42.45% 42.12%
FCF Conversion (Net income) 122.09% 233.94% 86.15% 101.78% 271.82% 104.21% 103.43% 103.5%
Dividend per Share 2 1.025 1.065 1.135 1.309 1.714 1.999 2.144 2.372
Announcement Date 2/18/20 2/23/21 2/22/22 2/21/23 2/20/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 3,055 3,507 4,056 4,483 3,956 3,299 3,356 3,251 3,115 2,826 2,927 3,134 3,219 3,031 3,151
EBITDA 1 1,077 1,131 1,300 1,456 804 619 825 690 682 412 490.9 646.1 717.1 653.2 727.4
EBIT 1 861 873 1,032 1,175 516 327 536 396 349 -552 203.6 346.7 423.4 349.3 442.9
Operating Margin 28.18% 24.89% 25.44% 26.21% 13.04% 9.91% 15.97% 12.18% 11.2% -19.53% 6.96% 11.06% 13.15% 11.52% 14.05%
Earnings before Tax (EBT) 1 813 845 997 1,148 496 305 516 377 365 -558 189.4 327.5 423.2 362.8 407.7
Net income 1 607 644 756 858 401 232 394 297 285 -497 141.8 243.5 300.3 257.5 305.1
Net margin 19.87% 18.36% 18.64% 19.14% 10.14% 7.03% 11.74% 9.14% 9.15% -17.59% 4.84% 7.77% 9.33% 8.49% 9.68%
EPS 2 4.690 4.980 5.830 6.600 3.100 1.790 3.050 2.310 2.200 -3.860 1.061 1.962 2.275 1.845 2.413
Dividend per Share 2 0.2975 0.2975 0.2975 0.2975 0.3570 0.3570 0.3570 0.3570 - 0.5000 0.4720 0.4720 0.5280 0.5280 0.4480
Announcement Date 11/2/21 2/22/22 5/3/22 8/2/22 11/3/22 2/21/23 5/4/23 8/3/23 11/2/23 2/20/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,717 2,253 3,272 2,651 1,602 1,310 645 -
Net Cash position 1 - - - - - - - 47.2
Leverage (Debt/EBITDA) 1.931 x 1.808 x 0.886 x 0.6344 x 0.6126 x 0.5253 x 0.2254 x -
Free Cash Flow 1 514 772 1,736 2,287 1,302 953 1,214 1,316
ROE (net income / shareholders' equity) 7.35% 5.54% 28.8% 25.1% 9.58% 8% 10.4% 11.6%
ROA (Net income/ Total Assets) 3.39% 2.44% 12.5% 11.5% 4.65% 3.42% 4.16% 4.68%
Assets 1 12,431 13,548 16,147 19,505 10,301 26,766 28,241 27,182
Book Value Per Share 2 45.60 47.30 62.20 78.00 79.60 111.0 116.0 122.0
Cash Flow per Share 2 10.10 10.70 23.40 26.50 15.60 14.60 18.40 23.40
Capex 1 787 525 658 1,108 1,034 1,003 1,022 1,050
Capex / Sales 9.69% 7% 5.59% 7.02% 8.24% 8.13% 7.81% 7.66%
Announcement Date 2/18/20 2/23/21 2/22/22 2/21/23 2/20/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Westlake Corporation

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
17
Last Close Price
149.6 USD
Average target price
153.4 USD
Spread / Average Target
+2.61%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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