Financial statements — Westlake Chemical
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| 20 ← 16 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|
| Total Revenue |
|
7.5B | 8.1B | 8.6B | 8B | 5.1B |
| Cost Of Revenue |
|
6.5B | 6.9B | 6.6B | 6.3B | 4.1B |
| Gross Profit |
|
1B | 1.3B | 2B | 1.8B | 980M |
| Research and Development |
|
0 | 0 | 0 | 0 | 0 |
| Selling General and Admin |
|
450M | 460M | 450M | 400M | 300M |
| Operating Expense |
|
7B | 7.4B | 7.2B | 6.8B | 4.4B |
| Operating Income |
|
470M | 690M | 1.4B | 1.3B | 690M |
| Other Income Expense Net |
|
0 | 0 | 0 | 0 | 0 |
| EBIT |
|
470M | 690M | 1.5B | 1.3B | 690M |
| Interest Income |
|
140M | 120M | 130M | 160M | 71M |
| Pretax Income |
|
330M | 570M | 1.3B | 1.1B | 560M |
| Income Tax |
|
-42M | 110M | 300M | -260M | 140M |
| Minority Interest |
|
43M | 41M | 38M | 35M | 21M |
| Net Income |
|
330M | 420M | 990M | 1.3B | 400M |
| Net Income Basic |
|
330M | 420M | 990M | 1.3B | 400M |
| 20 ← 16 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|
| Current cash |
|
1.3B | 730M | 750M | 1.5B | 460M |
| Short term investments |
|
32M | 42M | 38M | 30M | 48M |
| Receivables |
|
1.2B | 1B | 1B | 1B | 940M |
| Inventory |
|
920M | 940M | 1B | 900M | 800M |
| Other current assets |
|
32M | 42M | 38M | 30M | 48M |
| Current assets |
|
3.5B | 2.7B | 2.8B | 3.5B | 2.4B |
| Long term investments |
|
10B | 11B | 8.8B | 8.6B | 8.5B |
| Property plant equipment |
|
6.9B | 6.9B | 6.6B | 6.4B | 6.4B |
| Goodwill |
|
1.1B | 1.1B | 1B | 1B | 950M |
| Intangible assets |
|
610M | 710M | 660M | 780M | 790M |
| Other assets |
|
220M | 270M | 320M | 290M | 160M |
| Total assets |
|
14B | 13B | 12B | 12B | 11B |
| Accounts payable |
|
540M | 470M | 510M | 600M | 490M |
| Current long term debt |
|
0 | 0 | 0 | 710M | 150M |
| Other current liabilities |
|
820M | 770M | 680M | 660M | 540M |
| Total current liabilities |
|
1.4B | 1.2B | 1.2B | 2B | 1.2B |
| Long term debt |
|
3.6B | 3.4B | 2.7B | 3.1B | 3.7B |
| Other liabilities |
|
590M | 560M | 520M | 500M | 490M |
| Minority Interest |
|
540M | 540M | 490M | 500M | 370M |
| Total Liabilities |
|
7.8B | 7.4B | 6B | 7.2B | 7.4B |
| Common stock |
|
130M | 130M | 130M | 130M | 130M |
| Retained earning |
|
5.9B | 5.8B | 5.5B | 4.6B | 3.4B |
| Treasury stock |
|
-400M | -380M | -380M | -300M | -320M |
| Capital surplus |
|
• | • | • | • | • |
| Shareholder equity |
|
6B | 5.9B | 5.6B | 4.9B | 3.5B |
| Net tangible assets |
|
4.3B | 4.1B | 3.9B | 3.1B | 1.8B |
| 20 ← 16 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|
| Net Income |
|
330M | 420M | 990M | 1.3B | 400M |
| Depreciation |
|
770M | 710M | 640M | 600M | 380M |
| Changes in receivables |
|
180M | -1M | 36M | 62M | 430M |
| Changes in inventories |
|
-18M | -78M | 110M | 99M | 370M |
| Cash change |
|
590M | -25M | -780M | 1.1B | -720M |
| Cash flow |
|
1.3B | 1.3B | 1.4B | 1.5B | 830M |
| Capital expenditures |
|
-530M | -790M | -700M | -580M | -630M |
| Investments |
|
• | • | • | • | • |
| Investing activity other |
|
• | • | • | • | • |
| Total investing cash flows |
|
-510M | -2B | -750M | -650M | -2.6B |
| Dividends paid |
|
• | • | • | • | • |
| Net borrowings |
|
2.2B | 2.7B | 1.9B | 2.3B | 3.3B |
| Other financing cash flows |
|
• | • | • | • | • |
| Cash flow financing |
|
-220M | 630M | -1.4B | 160M | 1.5B |
| Exchange rate effect |
|
• | • | • | • | • |
Analyst Recommendations
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The company produces and sells petrochemical products and polymers for the consumer and industrial markets. It operates in 36 locations in North America, 11 in Europe and 6 in Asia. It is considered the largest producer of low-density polyethylene in the United States. The largest facilities for performing specialized orders for the production of polyethylene are located in the state of Texas.
According to Forbes magazine, it is one of the TOP 2000 most successful companies in the world by profit and sales. The corporation operates in two segments: production of products based on olefins and vinyls.
The company follows a development strategy by acquiring small firms, supporting existing production facilities, and building new businesses. In 2014, the corporation established a subsidiary, Westlake Chemical Partners, to promote its ethylene production assets. According to analytical data in 2019, it is one of the TOP 20 highest-yielding dividend-paying companies on the American stock market.