Financials Westlake Corporation

Equities

WLK

US9604131022

Commodity Chemicals

Market Closed - Nyse Other stock markets 16:00:02 2025-06-23 EDT			5-day change	1st Jan Change
73.56 ^USD	+2.12%		-3.74%	-35.84%

06-17	Westlake Closes Netherlands Facility, Cuts 230 Jobs	MT
06-17	Westlake Corp Expects EUR 190 Million Pre-Tax Costs For Pernis Closure - SEC Filing	RE

Projected Income Statement: Westlake Corporation

Fiscal Period: December	2019	2020	2021	2022	2023	2024
Net sales ¹	8,118	7,504	11,778	15,794	12,548	12,142
Change	-	-7.56%	56.96%	34.1%	-20.55%	-3.24%
EBITDA ¹	1,351	1,204	3,628	4,085	2,192	1,927
Change	-	-10.88%	201.33%	12.6%	-46.34%	-12.09%
EBIT ¹	693	479	2,844	3,109	1,232	966
Change	-	-30.88%	493.74%	9.32%	-60.37%	-21.59%
Interest Paid	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	570	331	2,677	2,946	700	938
Change	-	-41.93%	708.76%	10.05%	-76.24%	34%
Net income ¹	421	330	2,015	2,247	479	602
Change	-	-21.62%	510.61%	11.51%	-78.68%	25.68%
Announcement Date	2/19/20	2/24/21	2/23/22	2/22/23	2/22/24	2/25/25

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	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	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	1,709	1,898	1,965	2,357	2,859	3,055	3,507	4,056	4,483	3,956	3,299	3,356	3,251	3,115	2,826	2,975	3,207	3,117	2,843	2,846	3,068	3,241	3,394	3,110	3,242
Change	-	11.06%	3.53%	19.95%	21.3%	6.86%	14.8%	15.65%	10.53%	-11.76%	-16.61%	1.73%	-3.13%	-4.18%	-9.28%	5.27%	7.8%	-2.81%	-8.79%	0.11%	7.81%	5.62%	4.74%	-8.38%	4.25%
EBITDA ¹	236	287	386	553	932	1,077	1,131	1,300	1,456	804	619	825	690	682	412	546	744	505	416	288	394.4	506.7	513.5	422.5	564.9
Change	-	21.61%	34.49%	43.26%	68.54%	15.56%	5.01%	14.94%	12%	-44.78%	-23.01%	33.28%	-16.36%	-1.16%	-39.59%	32.52%	36.26%	-32.12%	-17.62%	-30.77%	36.94%	28.48%	1.35%	-17.73%	33.72%
EBIT ¹	36	79	178	346	720	861	873	1,032	1,175	516	327	536	396	349	-552	223	406	180	66	-32	198.5	-	-	-	-
Change	-	119.44%	125.32%	94.38%	108.09%	19.58%	1.39%	18.21%	13.86%	-56.09%	-36.63%	63.91%	-26.12%	-11.87%	-258.17%	140.4%	82.06%	-55.67%	-63.33%	-148.48%	720.32%	-	-	-	-
Charge d'intérêts ¹	-40	-37	-34	-33	-36	-61	-46	-46	-44	-44	-43	-42	-42	-40	-41	-40	-41	-39	-39	-39	-40	-40	-40	-40	-
Earnings before Tax (EBT) ¹	5	54	156	325	694	813	845	997	1,148	496	305	516	377	365	-558	233	424	185	96	-34	51.16	160.1	223.4	112.2	229.6
Change	-	980%	188.89%	108.33%	113.54%	17.15%	3.94%	17.99%	15.15%	-56.79%	-38.51%	69.18%	-26.94%	-3.18%	-252.88%	141.76%	81.97%	-56.37%	-48.11%	-135.42%	250.46%	212.96%	39.52%	-49.78%	104.65%
Net income ¹	15	57	113	242	522	607	644	756	858	401	232	394	297	285	-497	174	313	108	7	-40	30.39	114.3	163	77.37	166.5
Change	-	280%	98.25%	114.16%	115.7%	16.28%	6.1%	17.39%	13.49%	-53.26%	-42.14%	69.83%	-24.62%	-4.04%	-274.39%	135.01%	79.89%	-65.5%	-93.52%	-671.43%	175.98%	276.03%	42.63%	-52.53%	115.21%
Announcement Date	8/6/20	11/3/20	2/23/21	5/4/21	8/3/21	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	5/1/24	8/6/24	11/5/24	2/24/25	5/2/25	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Westlake Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt	2,253	3,272	2,651	1,602	1,643	-	-	-
Change	-	45.23%	-18.98%	-39.57%	2.56%	-	-	-
Announcement Date	2/23/21	2/22/22	2/21/23	2/20/24	2/24/25	-	-	-

Estimates

Cash Flow Forecast: Westlake Corporation

Fiscal Period: December	2019	2020	2021	2022	2023	2024
CAPEX ¹	787	525	658	1,108	1,034	1,008
Change	-	-33.29%	25.33%	68.39%	-6.68%	-2.51%
Free Cash Flow (FCF) ¹	343.6	454.6	1,390	1,640	1,398	379.4
Change	-	32.3%	205.86%	17.91%	-14.74%	-72.86%
Announcement Date	2/19/20	2/24/21	2/23/22	2/22/23	2/22/24	2/25/25

¹USD in Million

Estimates

Forecast Financial Ratios: Westlake Corporation

Fiscal Period: December	2019	2020	2021	2022	2023	2024
Profitability
EBITDA Margin (%)	16.64%	16.04%	30.8%	25.86%	17.47%	15.87%
EBIT Margin (%)	8.54%	6.38%	24.15%	19.68%	9.82%	7.96%
EBT Margin (%)	7.02%	4.41%	22.73%	18.65%	5.58%	7.73%
Net margin (%)	5.19%	4.4%	17.11%	14.23%	3.82%	4.96%
FCF margin (%)	4.23%	6.06%	11.81%	10.38%	11.14%	3.12%
FCF / Net Income (%)	81.62%	137.77%	69.01%	72.96%	291.83%	63.02%
Profitability
ROA	3.48%	2.21%	11.01%	9.96%	3.7%	2.89%
ROE	7.4%	5.75%	27.41%	24.19%	4.92%	5.93%
Financial Health
Leverage (Debt/EBITDA)	2.35x	2.27x	1.06x	0.8x	1.07x	1.29x
Debt / Free cash flow	9.26x	6.02x	2.76x	2x	1.67x	6.55x
Capital Intensity
CAPEX / Current Assets (%)	9.69%	7%	5.59%	7.02%	8.24%	8.3%
CAPEX / EBITDA (%)	58.25%	43.6%	18.14%	27.12%	47.17%	52.31%
CAPEX / FCF (%)	229.03%	115.48%	47.32%	67.58%	73.97%	265.7%
Items per share
Cash flow per share ¹	-	10.73	23.37	26.54	15.58	10.17
Change	-	-	117.73%	13.53%	-41.27%	-34.74%
Dividend per Share ¹	-	1.065	1.135	1.309	1.714	2.05
Change	-	-	6.57%	15.33%	30.94%	19.6%
Book Value Per Share ¹	-	47.27	62.19	77.97	79.64	81.47
Change	-	-	31.55%	25.38%	2.13%	2.31%
EPS ¹	-	2.56	15.58	17.34	3.7	4.64
Change	-	-	508.59%	11.3%	-78.66%	25.41%
Nbr of stocks (in thousands)	-	127,722	127,822	127,538	128,141	128,706
Announcement Date	-	2/23/21	2/22/22	2/21/23	2/20/24	2/24/25