WES vs. PAA
Compare and contrast key facts about Western Midstream Partners, LP (WES) and Plains All American Pipeline, L.P. (PAA).
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: WES or PAA.
Correlation
The correlation between WES and PAA is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
WES vs. PAA - Performance Comparison
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Key characteristics
WES:
0.58
PAA:
0.34
WES:
0.89
PAA:
0.51
WES:
1.11
PAA:
1.07
WES:
0.88
PAA:
0.16
WES:
2.28
PAA:
0.91
WES:
6.39%
PAA:
7.42%
WES:
27.28%
PAA:
28.10%
WES:
-93.66%
PAA:
-91.99%
WES:
-3.21%
PAA:
-34.83%
Fundamentals
WES:
$15.12B
PAA:
$12.13B
WES:
$3.34
PAA:
$0.93
WES:
11.87
PAA:
18.55
WES:
5.48
PAA:
2.27
WES:
4.16
PAA:
0.24
WES:
4.73
PAA:
1.26
WES:
$3.63B
PAA:
$50.14B
WES:
$2.52B
PAA:
$13.75B
WES:
$2.11B
PAA:
$2.04B
Returns By Period
In the year-to-date period, WES achieves a 8.03% return, which is significantly higher than PAA's 5.15% return. Over the past 10 years, WES has outperformed PAA with an annualized return of 3.05%, while PAA has yielded a comparatively lower -2.46% annualized return.
WES
8.03%
6.56%
8.68%
14.17%
49.59%
3.05%
PAA
5.15%
-0.60%
4.54%
7.22%
23.35%
-2.46%
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Risk-Adjusted Performance
WES vs. PAA — Risk-Adjusted Performance Rank
WES
PAA
WES vs. PAA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Midstream Partners, LP (WES) and Plains All American Pipeline, L.P. (PAA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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Dividends
WES vs. PAA - Dividend Comparison
WES's dividend yield for the trailing twelve months is around 8.92%, more than PAA's 8.09% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
WES Western Midstream Partners, LP | 8.92% | 8.33% | 8.52% | 6.80% | 5.69% | 11.25% | 12.45% | 8.28% | 5.44% | 4.04% | 3.86% | 1.73% |
PAA Plains All American Pipeline, L.P. | 8.09% | 7.44% | 7.06% | 7.08% | 7.71% | 13.11% | 7.50% | 5.99% | 9.45% | 8.21% | 11.93% | 4.97% |
Drawdowns
WES vs. PAA - Drawdown Comparison
The maximum WES drawdown since its inception was -93.66%, roughly equal to the maximum PAA drawdown of -91.99%. Use the drawdown chart below to compare losses from any high point for WES and PAA. For additional features, visit the drawdowns tool.
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Volatility
WES vs. PAA - Volatility Comparison
The current volatility for Western Midstream Partners, LP (WES) is 8.42%, while Plains All American Pipeline, L.P. (PAA) has a volatility of 9.94%. This indicates that WES experiences smaller price fluctuations and is considered to be less risky than PAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Financials
WES vs. PAA - Financials Comparison
This section allows you to compare key financial metrics between Western Midstream Partners, LP and Plains All American Pipeline, L.P.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
WES vs. PAA - Profitability Comparison
WES - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on May 2025, Western Midstream Partners, LP reported a gross profit of 705.16M and revenue of 917.12M. Therefore, the gross margin over that period was 76.9%.
PAA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on May 2025, Plains All American Pipeline, L.P. reported a gross profit of 620.00M and revenue of 12.01B. Therefore, the gross margin over that period was 5.2%.
WES - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on May 2025, Western Midstream Partners, LP reported an operating income of 409.80M and revenue of 917.12M, resulting in an operating margin of 44.7%.
PAA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on May 2025, Plains All American Pipeline, L.P. reported an operating income of 533.00M and revenue of 12.01B, resulting in an operating margin of 4.4%.
WES - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on May 2025, Western Midstream Partners, LP reported a net income of 309.01M and revenue of 917.12M, resulting in a net margin of 33.7%.
PAA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on May 2025, Plains All American Pipeline, L.P. reported a net income of 443.00M and revenue of 12.01B, resulting in a net margin of 3.7%.