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Westlake Chemical Corporation (WLK)
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Westlake Chemical Corporation Income Statement 2025-2008 | WLK
Brief overview of income trends at Westlake Chemical Corporation
The conclusions below are based on five years of reported results. Revenue at Westlake Chemical Corporation moved from 7.5 billion dollars in 2020 to 11.2 billion dollars in 2025. The five-year change reached +48.9%, while CAGR stood at 8.3%. Revenue advanced gradually over the five-year period.
Gross profit was $1 billion at the start and $813 million at the end of the period (−20.5%). The relationship between sales and direct costs deteriorated. The gross margin was 13.6% at the start and 7.3% at the end. The business retained less gross profit from each unit of revenue.
The five-year EBITDA result moved by −133.3%: from 1.2 billion dollars to −400 million dollars. Operating performance weakened relative to revenue. EBITDA margin was 16% at the start and −3.6% at the end. A lower EBITDA share weakens the quality of the result.
Across the five years, the net result shifted from $330 million to −$1.5 billion. A positive result was not sustained and the period ended with a loss.
Over the period, capitalization shifted from 9.6 billion dollars to 12.8 billion dollars (+33.7%). Higher capitalization indicates improving investor confidence.
Summary assessment
Signs of deterioration dominate the five-year picture. The financial profile benefits from sales growth. The overall view is constrained by pressure on operating profitability, declining net profitability and a lower gross margin. The key question is whether sales can be converted into sustainable profit.
Annual Income Statement Westlake Chemical Corporation
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
12.8 B | 14.4 B | 14.4 B | 15.2 B | 12.6 B | 9.59 B | 8.25 B | 10 B | 14.4 B | 8.08 B | 6.02 B | 7.64 B | 8.13 B | 5.97 B | 3.81 B | 657 M | 690 M | - |
Shares |
128 M | 129 M | 128 M | 128 M | 128 M | 128 M | 129 M | 130 M | 130 M | 130 M | 132 M | 133 M | 134 M | 133 M | 133 M | 65.5 M | 65.3 M | - |
Historical Prices |
100 | 112 | 112 | 118 | 98.1 | 75 | 58.9 | 70 | 106 | 57.5 | 41.6 | 51.8 | 54.6 | 38.8 | 24.5 | 10 | 10.6 | 8.69 |
Net Income |
-1.51 B | 602 M | 479 M | 2.25 B | 2.02 B | 330 M | 421 M | 996 M | 1.3 B | 399 M | 646 M | 679 M | 610 M | 386 M | 259 M | 221 M | 53 M | - |
Revenue |
11.2 B | 12.1 B | 12.5 B | 15.8 B | 11.8 B | 7.5 B | 8.12 B | 8.64 B | 8.04 B | 5.08 B | 4.46 B | 4.42 B | 3.76 B | 3.57 B | 3.62 B | - | - | - |
Cost of Revenue |
10.4 B | 10.2 B | 10.3 B | 11.7 B | 8.28 B | 6.48 B | 6.86 B | 6.65 B | 6.28 B | 4.09 B | - | - | - | - | - | - | - | - |
Gross Profit |
813 M | 1.96 B | 2.22 B | 4.07 B | 3.5 B | 1.02 B | 1.26 B | 1.99 B | 1.77 B | 981 M | 1.19 B | 1.32 B | 1.1 B | 737 M | 559 M | 483 M | 195 M | - |
Operating Income |
-1.58 B | 875 M | 729 M | 3.05 B | 2.8 B | 429 M | 656 M | 1.41 B | 1.22 B | 583 M | 960 M | 1.12 B | 953 M | 615 M | 447 M | 378 M | 107 M | - |
Interest Expense |
- | - | 165 M | 177 M | 176 M | 142 M | 124 M | 126 M | 159 M | 79 M | 35 M | 37.4 M | 18.1 M | 43 M | 51 M | 39.9 M | 35 M | - |
EBITDA |
-400 M | 1.99 B | 1.83 B | 4.11 B | 3.64 B | 1.2 B | 802 M | 1.54 B | 1.37 B | 1.06 B | 1.21 B | 1.33 B | 1.11 B | 759 M | 578 M | 507 M | 230 M | - |
Operating Expenses |
- | - | - | - | - | - | 567 M | 546 M | 507 M | 295 M | 225 M | 193 M | 149 M | 122 M | 112 M | - | - | - |
General and Administrative Expenses |
900 M | 874 M | 865 M | 835 M | 551 M | 449 M | 458 M | 445 M | 399 M | 295 M | 225 M | 193 M | 148 M | 122 M | 112 M | 104 M | 87.9 M | - |
Annual performance
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All numbers in USD currency
Quarterly Income Statement Westlake Chemical Corporation
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
128 M | 128 M | 128 M | 128 M | 128 M | 129 M | 129 M | 128 M | 128 M | 128 M | 128 M | - | 128 M | 128 M | 128 M | - | 128 M | 128 M | 128 M | - | 128 M | 128 M | 128 M | - | 128 M | 128 M | 129 M | - | 129 M | 130 M | 129 M | - | 129 M | 129 M | 129 M | - | 129 M | 130 M | 130 M | - | 132 M | 133 M | 133 M | - | 133 M | 133 M | 133 M | - | 133 M | 133 M | 133 M | - | 66.3 M | 66.3 M | 66.1 M | - | 66 M | 66 M | 65.7 M |
Net Income |
260 M | -169 M | -782 M | -142 M | -40 M | 108 M | 313 M | 174 M | 285 M | 297 M | 394 M | - | 401 M | 858 M | 764 M | - | 607 M | 536 M | 253 M | 113 M | 57 M | 15 M | 145 M | 72 M | 158 M | 119 M | 72 M | 123 M | 308 M | 278 M | 287 M | 802 M | 211 M | 153 M | 138 M | 99 M | 66 M | 111 M | 123 M | 111 M | 184 M | 205 M | 146 M | 183 M | 168 M | 169 M | 158 M | 171 M | 170 M | 146 M | 123 M | 95.3 M | 87 M | 116 M | 87.8 M | 26.4 M | 67.9 M | 81 M | 83.5 M |
Revenue |
3.27 B | 2.65 B | 2.84 B | 2.95 B | 2.85 B | 3.12 B | 3.21 B | 2.98 B | 3.12 B | 3.25 B | 3.36 B | - | 3.96 B | 4.48 B | 4.06 B | - | 3.06 B | 2.86 B | 2.36 B | 1.96 B | 1.9 B | 1.71 B | 1.93 B | 1.88 B | 2.07 B | 2.14 B | 2.02 B | 2 B | 2.26 B | 2.24 B | 2.15 B | 2.01 B | 2.11 B | 1.98 B | 1.94 B | 1.74 B | 1.28 B | 1.09 B | 975 M | 987 M | 1.19 B | 1.19 B | 1.1 B | 1.14 B | 1.25 B | 999 M | 1.03 B | 952 M | 1 B | 939 M | 865 M | 801 M | 821 M | 914 M | 1.03 B | 859 M | 968 M | 925 M | 867 M |
Cost of Revenue |
2.62 B | 2.54 B | 2.6 B | 2.7 B | 2.61 B | 2.62 B | 2.54 B | 2.51 B | 2.53 B | 2.61 B | 2.56 B | - | 3.18 B | 3.04 B | 2.77 B | - | 2.04 B | 1.99 B | 1.85 B | - | 1.65 B | 1.54 B | 1.65 B | - | 1.7 B | 1.8 B | 1.73 B | - | 1.72 B | 1.68 B | 1.61 B | - | 1.61 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
652 M | 112 M | 236 M | 258 M | 232 M | 499 M | 664 M | 466 M | 586 M | 642 M | 792 M | - | 776 M | 1.44 B | 1.28 B | - | 1.02 B | 872 M | 509 M | 323 M | 248 M | 169 M | 283 M | 250 M | 371 M | 340 M | 299 M | 354 M | 539 M | 552 M | 542 M | 496 M | 496 M | 403 M | 366 M | 282 M | 203 M | 241 M | 255 M | 236 M | 311 M | 353 M | 285 M | 363 M | 362 M | 306 M | 287 M | 296 M | 304 M | 273 M | 228 M | 190 M | 172 M | 202 M | 173 M | 77.3 M | 147 M | 167 M | 168 M |
Operating Income |
364 M | -172 M | -766 M | -109 M | -32 M | 180 M | 406 M | 223 M | 349 M | 396 M | 536 M | - | 516 M | 1.18 B | 1.03 B | - | 861 M | 720 M | 346 M | 178 M | 79 M | 36 M | 136 M | 102 M | 226 M | 194 M | 134 M | 207 M | 396 M | 404 M | 401 M | 363 M | 364 M | 264 M | 234 M | 153 M | 46 M | 180 M | 202 M | 181 M | 254 M | 295 M | 229 M | 302 M | 307 M | 267 M | 248 M | 258 M | 267 M | 235 M | 194 M | 156 M | 143 M | 171 M | 146 M | 50.5 M | 117 M | 138 M | 141 M |
Interest Expense |
- | - | - | - | - | - | 41 M | 40 M | 40 M | 42 M | 42 M | - | 44 M | 44 M | 46 M | - | 61 M | 36 M | 33 M | - | 37 M | 40 M | 31 M | - | 31 M | 28 M | 30 M | - | 28 M | 31 M | 37 M | - | 40 M | 39 M | 40 M | - | 24.4 M | 5.92 M | 6.68 M | - | 8.21 M | 8.96 M | 9.59 M | - | 9.49 M | 9.54 M | 9.16 M | - | 3.3 M | 5.34 M | 6.28 M | - | 11.9 M | 11.6 M | 12.2 M | - | 12.7 M | 12.8 M | 12.9 M |
EBITDA |
650 M | 112 M | -463 M | 186 M | 251 M | 461 M | 685 M | 496 M | 626 M | 667 M | 803 M | - | 780 M | 1.44 B | 1.29 B | - | 1.06 B | 922 M | 541 M | 178 M | 275 M | 227 M | 326 M | 102 M | 404 M | 370 M | 305 M | 207 M | 557 M | 560 M | 557 M | 363 M | 518 M | 409 M | 384 M | 153 M | 140 M | 247 M | 268 M | 181 M | 315 M | 356 M | 288 M | 302 M | 361 M | 315 M | 294 M | 258 M | 307 M | 275 M | 229 M | 156 M | 181 M | 207 M | 181 M | 50.5 M | 150 M | 171 M | 173 M |
General and Administrative Expenses |
253 M | 236 M | 228 M | 221 M | 227 M | 215 M | 224 M | 209 M | 206 M | 213 M | 222 M | - | 215 M | 220 M | 200 M | - | 122 M | 125 M | 136 M | - | 108 M | 104 M | 120 M | - | 110 M | 117 M | 116 M | - | 114 M | 115 M | 108 M | - | 98 M | 101 M | 99 M | - | 72.7 M | 53.7 M | 53.3 M | - | 57.2 M | 57.8 M | 55.3 M | - | 54.8 M | 39.2 M | 39 M | - | 37.9 M | 38.3 M | 33.8 M | - | 29.7 M | 30.9 M | 27 M | - | 29.7 M | 28.7 M | 26.9 M |
Quarterly performance
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All numbers in USD currency
The income statement is one of the three key financial reports of a company Westlake Chemical Corporation (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.