Western Gas Partners LP

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WES : NYSE : Basic Materials
$58.86 -0.59 | -0.99%
Today's Range: 58.21 - 58.93
Avg. Daily Volume: 315900.0
03/27/17 - 3:56 PM ET

Financial Analysis


WESTERN GAS PARTNERS LP's gross profit margin for the fourth quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. Sales and net income have grown, and although the growth in revenues has outpaced the average competitor within the industry, the net income growth has not. WESTERN GAS PARTNERS LP has strong liquidity. Currently, the Quick Ratio is 1.85 which shows the ability to cover short-term cash needs. The company's liquidity has increased from the same period last year, indicating improving cash flow.

During the same period, stockholders' equity ("net worth") has increased by 19.03% from the same quarter last year. The key liquidity measurements indicate that the company is unlikely to face financial difficulties in the near future.

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Income Statement Q4 FY16 Q4 FY15
Net Sales ($mil)510.82416.56
EBITDA ($mil)242.62197.22
EBIT ($mil)165.11-109.37
Net Income ($mil)143.0-155.88


Balance Sheet Q4 FY16 Q4 FY15
Cash & Equiv. ($mil)357.9398.03
Total Assets ($mil)7733.036707.26
Total Debt ($mil)3132.92896.03
Equity ($mil)4071.223420.05


Profitability Q4 FY16 Q4 FY15
Gross Profit Margin49.8549.91
EBITDA Margin47.4947.34
Operating Margin32.32-26.26
Sales Turnover0.230.26
Return on Assets7.640.06
Return on Equity12.630.12
Debt Q4 FY16 Q4 FY15
Current Ratio1.881.44
Debt/Capital0.430.46
Interest Expense40.1233.03
Interest Coverage4.12-3.31


Share Data Q4 FY16 Q4 FY15
Shares outstanding (mil)143.03139.99
Div / share0.850.78
EPS0.35-1.6
Book value / share28.4624.43
Institutional Own % n/a n/a
Avg Daily Volume314093.0302094.0

Valuation


HOLD. This stock's P/E ratio indicates a significant discount compared to an average of 145.99 for the Oil, Gas & Consumable Fuels industry and a premium compared to the S&P 500 average of 26.33. To use another comparison, its price-to-book ratio of 2.09 indicates a discount versus the S&P 500 average of 2.93 and a significant discount versus the industry average of 34.30. The price-to-sales ratio is well above both the S&P 500 average and the industry average, indicating a premium. Upon assessment of these and other key valuation criteria, WESTERN GAS PARTNERS LP proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
WES 34.06 Peers 145.99   WES 9.29 Peers 11.89

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

WES is trading at a significant discount to its peers.

 

Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

WES is trading at a discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
WES 21.80 Peers 32.69   WES 1.16 Peers 0.89

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

WES is trading at a discount to its peers.

 

Premium. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

WES trades at a significant premium to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
WES 2.09 Peers 34.30   WES 189.28 Peers 26.59

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

WES is trading at a significant discount to its peers.

 

Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

WES is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
WES 4.73 Peers 2.49   WES 2.97 Peers -10.14

Premium. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

WES is trading at a significant premium to its industry.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

WES has a sales growth rate that significantly exceeds its peers.

 

 

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