WLK on NYSE

Westlake Corporation

Logo: Unknown author Unknown author, Public domain, via Wikimedia Commons⁵

American petrochemical company

$63.13 down 0.48 (0.75%)Price as of Oct 16, 2026 at 19:58 UTC

Last updated Oct 18, 2026.

Overview

1986Founded¹

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TickerWLK on NYSE¹
Industrychemical industry, petroleum industry¹
HeadquartersHouston¹
Websitewww.westlake.com
Legal formDelaware corporation¹
Incorporated inDE⁶
Business address5444 Westheimer, Suite 101, Houston, Tx⁶
Filer categoryLarge accelerated filer⁶

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Westlake Corporation is an international manufacturer and supplier of petrochemicals, polymers and fabricated building products, which are fundamental to various consumer and industrial markets. The company was founded by Ting Tsung Chao in 1986. it is the largest producer of low-density polyethylene (LDPE) in the US and ranks among the Forbes Global 2000. Westlake Chemical operates in two segments: Olefins and Vinyls, and is also an integrated producer of vinyls, with substantial downstream integration into polyvinyl chloride (PVC) building products.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

7.3%Gross margin⁸

-14.1%Operating margin⁸

-13.5%Net margin⁸

-8.0%Revenue growth, 2025⁸

-17.2%Return on equity⁸

0.58×Debt to equity⁸

-$530.0MFree cash flow⁸

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Performance and Essential Materials brought in 63% of the revenue Westlake Corporation broke down this way in fiscal 2025.

Performance and Essential Materials$7.0B⁸63%down 10% from 2024
Housing and Infrastructure Products$4.1B⁸37%down 4% from 2024

Business segments by year

Business segments	2023	2024	2025
Performance and Essential Materials	$8.3B	$7.8B	$7.0B
Housing and Infrastructure Products	$4.2B	$4.3B	$4.1B

Regions

United States brought in 71% of the revenue Westlake Corporation broke down this way in fiscal 2025.

United States$8.0B⁸71%down 9% from 2024
Other Foreign Countries$1.1B⁸10%down 10% from 2024
Canada$777.0M⁸7%down 2% from 2024
Germany$583.0M⁸5%down 2% from 2024
Mexico$194.0M⁸2%down 6% from 2024
China$162.0M⁸1%down 17% from 2024
Brazil$153.0M⁸1%up 8% from 2024
Italy$144.0M⁸1%down 1% from 2024
France$125.0M⁸1%up 4% from 2024

Regions by year

Regions	2023	2024	2025
United States	$9.0B	$8.8B	$8.0B
Other Foreign Countries	$1.3B	$1.2B	$1.1B
Canada	$808.0M	$792.0M	$777.0M
Germany	$602.0M	$594.0M	$583.0M
Mexico	$217.0M	$206.0M	$194.0M
China	$220.0M	$195.0M	$162.0M
Brazil	$215.0M	$142.0M	$153.0M
Italy	$135.0M	$145.0M	$144.0M
France	$138.0M	$120.0M	$125.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

Cost of revenue

Cost of revenue91¢$10.4B
Selling, general and admin8¢$900.0M
Income tax1¢$126.0M

Out of $11.2B in revenue.⁸ The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

Capital spendingDividends paid

Capital spending75¢$995.0M
Dividends paid20¢$272.0M
Share buybacks5¢$63.0M

Out of $465.0M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.⁸

Financial statements

Revenue⁹¹⁰¹¹¹²⁸$11.2B in 2025+38% since 2019

Gross profit⁹¹⁰¹¹¹²⁸$813.0M in 2025−35% since 2019

Operating income⁹¹⁰¹¹¹²⁸-$1.6B in 2025

Net income⁹¹⁰¹¹¹²⁸-$1.5B in 2025

Every line of the income statement in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Net sales	$11.2B	$12.1B	$12.5B
Cost of sales	$10.4B	$10.2B	$10.3B
Gross profit	$813.0M	$2.0B	$2.2B
Selling, general and administrative expenses	$900.0M	$874.0M	$865.0M
Impairment of goodwill and long-lived assets	$727.0M	$0	$475.0M
Amortization of intangibles	$124.0M	$117.0M	$122.0M
Restructuring, transaction and integration-related costs	$640.0M	$91.0M	$28.0M
Income (loss) from operations	-$1.6B	$875.0M	$729.0M
Interest expense	-$171.0M	-$159.0M	-$165.0M
Other income, net	$152.0M	$222.0M	$136.0M
Income (loss) before income taxes	-$1.6B	$938.0M	$700.0M
Income tax provision (benefit)	-$126.0M	$291.0M	$178.0M
Net income (loss)	-$1.5B	$647.0M	$522.0M
Net income attributable to noncontrolling interests	$37.0M	$45.0M	$43.0M
Net income (loss) attributable to Westlake Corporation	-$1.5B	$602.0M	$479.0M
Basic (in dollars per share)	-$11.70	$4.66	$3.73
Diluted (in dollars per share)	-$11.70	$4.64	$3.70
Basic (in shares)	128.3M shares	128.5M shares	127.8M shares
Diluted (in shares)	128.3M shares	129.2M shares	128.6M shares

Total assets¹⁵⁹¹⁰¹¹¹²⁸$20.0B in 2025+51% since 2019

Total liabilities¹⁵⁹¹⁰¹¹¹²⁸$10.7B in 2025+56% since 2019

Shareholders’ equity¹⁵⁹¹⁰¹¹¹²⁸$8.8B in 2025+50% since 2019

Cash¹⁵⁹¹⁰¹¹¹²⁸$2.7B in 2025+274% since 2019

Long-term debt¹⁵⁹¹⁰¹¹¹²⁸$5.1B in 2025+48% since 2019

Every line of the balance sheet in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$2.7B	$2.9B
Available-for-sale securities	$204.0M	$0
Accounts receivable, net	$1.5B	$1.5B
Inventories	$1.7B	$1.7B
Prepaid expenses and other current assets	$131.0M	$115.0M
Total current assets	$6.2B	$6.2B
Property, plant and equipment, net	$8.6B	$8.6B
Operating lease right-of-use assets	$798.0M	$801.0M
Goodwill	$1.3B	$2.0B	$2.0B
Customer relationships, net	$743.0M	$820.0M
Other intangible assets, net	$439.0M	$462.0M
Equity method investments	$1.1B	$1.1B
Other assets, net	$784.0M	$708.0M
Total assets	$20.0B	$20.8B
Accounts payable	$783.0M	$851.0M
Accrued and other liabilities	$1.5B	$1.4B
Current portion of long-term debt, net	$497.0M	$6.0M
Total current liabilities	$2.8B	$2.2B
Long-term debt, net	$5.1B	$4.6B
Deferred income taxes	$1.3B	$1.6B
Pension and other post-retirement benefits	$286.0M	$304.0M
Operating lease liabilities	$688.0M	$713.0M
Other liabilities	$492.0M	$362.0M
Total liabilities	$10.7B	$9.7B
Preferred stock, $0.01 par value, 50,000,000 shares authorized; no shares issued and outstanding	$0	$0
Common stock, $0.01 par value, 300,000,000 shares authorized; 134,651,380 and 134,651,380 shares issued at December 31, 2025 and 2024, respectively	$1.0M	$1.0M
Common stock, held in treasury, at cost; 6,740,232 and 6,424,366 shares at December 31, 2025 and 2024, respectively	-$513.0M	-$467.0M
Additional paid-in capital	$683.0M	$656.0M
Retained earnings	$8.7B	$10.5B
Accumulated other comprehensive loss	-$80.0M	-$144.0M
Total Westlake Corporation stockholders' equity	$8.8B	$10.5B
Noncontrolling interests	$503.0M	$516.0M
Total equity	$9.3B	$11.0B	$10.8B
Total liabilities and equity	$20.0B	$20.8B
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized	50.0M shares	50.0M shares
Preferred stock, shares issued	0 shares	0 shares
Preferred stock, shares outstanding	0 shares	0 shares
Common stock, par value per share (in dollars per share)	$0.01	$0.01
Common Stock, shares authorized	300.0M shares	300.0M shares
Common Stock, Shares	134.7M shares	134.7M shares
Treasury Stock, Shares	6.7M shares	6.4M shares

Cash from operations⁹¹⁰¹¹¹²⁸$465.0M in 2025−64% since 2019

Capital spending⁹¹⁰¹¹¹²⁸$995.0M in 2025+26% since 2019

Free cash flow⁹¹⁰¹¹¹²⁸-$530.0M in 2025

Dividends paid⁹¹⁰¹¹¹²⁸$272.0M in 2025+106% since 2019

Share buybacks⁹¹⁰¹¹¹²⁸$63.0M in 2025+110% since 2019

Every line of the cash flow in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Net income (loss)	-$1.5B	$647.0M	$522.0M
Depreciation and amortization	$1.2B	$1.1B	$1.1B
Stock-based compensation expense	$41.0M	$41.0M	$43.0M
Loss from disposition and write-off of assets and accelerated depreciation and amortization	$359.0M	$43.0M	$45.0M
Impairment of goodwill and long-lived assets	$727.0M	$0	$475.0M
Deferred income taxes	-$177.0M	-$35.0M	-$175.0M
Other gains, net	-$7.0M	-$27.0M	-$3.0M
Accounts receivable	$15.0M	$87.0M	$225.0M
Inventories	$51.0M	-$97.0M	$250.0M
Prepaid expenses and other current assets	-$11.0M	-$35.0M	-$19.0M
Accounts payable	-$67.0M	-$20.0M	-$26.0M
Accrued and other liabilities	$89.0M	-$213.0M	$170.0M
Other, net	-$262.0M	-$191.0M	-$268.0M
Net cash provided by operating activities	$465.0M	$1.3B	$2.3B
Additions to investments in unconsolidated subsidiaries	-$33.0M	-$26.0M	-$25.0M
Additions to property, plant and equipment	-$995.0M	-$1.0B	-$1.0B
Payments to Acquire Debt Securities, Available-for-Sale	-$272.0M	$0	$0
Proceeds from Sale and Maturity of Debt Securities, Available-for-Sale	$68.0M	$0	$0
Other, net	$9.0M	$33.0M	$22.0M
Net cash used for investing activities	-$1.2B	-$1.0B	-$1.0B
Distributions to noncontrolling interests	-$51.0M	-$49.0M	-$54.0M
Dividends paid	-$272.0M	-$264.0M	-$221.0M
Proceeds from senior notes issuance, net	$1.2B	$0	$0
Repayment of senior notes	-$254.0M	-$300.0M	$0
Repurchase of common stock for treasury	-$63.0M	-$60.0M	-$23.0M
Other, net	-$17.0M	$23.0M	$53.0M
Net cash provided by (used for) financing activities	$530.0M	-$650.0M	-$245.0M
Effect of exchange rate changes on cash, cash equivalents and restricted cash	$33.0M	-$47.0M	$19.0M
Net increase (decrease) in cash, cash equivalents and restricted cash	-$195.0M	-$384.0M	$1.1B

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The story

Founded by Ting Tsung Chao in 1986.¹

Leadership

Who has led Westlake Corporation, and when. Pick a name to see everywhere that person has worked.

FounderTing Tsung Chao¹

Products and brands

In 2014, Westlake made a significant expansion in their ethylene production facilities in Sulphur, Louisiana. In the same year, Westlake acquired the German polyvinyl chloride manufacturer Vinnolit.

In 2016, Westlake acquired U.S. chlor-alkali producer Axiall Corporation for US$3.8 billion.

In June 2021, Westlake purchased the United States building products business of Boral for $2.2 billion.

In 2022, Westlake took over Hexion's epoxy division.

From Wikipedia’s article on Westlake Corporation, shared under CC BY-SA 4.0.⁷

Subsidiaries and ownership

Subsidiaries

Westlake Vinnolit since 2014

From Wikidata.¹

Acquisitions

2014Westlake Vinnolit became a subsidiary¹

Former names

WESTLAKE CHEMICAL CORPSep 22, 2003 to Feb 1, 2022⁶

Controversies and legal

Safety Incidents

In September 2021, an explosion at a Westlake ethylene plant in Sulphur, Louisiana injured six workers. In January 2022, an ethylene dichloride tank exploded at a Westlake facility in Westlake, Louisiana injuring 6 workers and triggering a shelter-in-place order.

Westlake facilities in Louisiana have had uncontrolled chemical releases including benzene, chloroform, ethylene dichloride, hydrogen chloride and vinyl chloride.

Westlake's operations in Calvert City, Kentucky, have faced scrutiny from regulators. In 2024, the U.S. Environmental Protection Agency (EPA) announced findings from a long-term air monitoring study in the surrounding community, and determined emissions of ethylene dichloride were driving elevated cancer risk. Westlake's Calvert City operations are the main source of ethylene dichloride emissions in the area, according to the EPA.