# Westlake Corporation (WLK) · Edgar & Edgarette company card

> Westlake (WLK) saw revenue fall 8.0% in FY2025 to $11.2 billion, operating margin -14.1% against a -3.2% median for industrial organic chemicals, equity 44.0% of assets, and dividend per share up 12 years running. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1262823 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/WLK) · [JSON](https://www.pops4.com/boards/company/WLK.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $11.2B |
| Revenue growth, 1 year | -8.0% |
| Revenue growth per year | -1.3% |
| Operating margin | -14.1% (prior year 7.2%) |
| Net margin | -13.5% |
| Operating cash flow | $465M |
| Capital spending | $995M |
| Free cash flow | −$530M |
| Cash | $2.7B |
| Long-term debt | $5.6B |
| Total assets | $20.0B |
| Total equity | $8.8B |
| Equity ÷ assets | 44.0% |
| Return on equity | -17.2% |
| Dividend per share | $2.11 |
| Dividend years rising | 12 |

## Readings, computed from those figures

- Altman Z: 2.89 (safe zone)
- Piotroski F: 3 of 9 (middling)
- Beneish M: -2.49 (below the −1.78 line)
- Health Harbor boat: Rotting at the dock · four or more warning signs · filed restructuring or exit costs in the last 12 months; slow and jumpy: growing slower than its size class, with revenue that swings more; operating loss: a margin of -14.1% in FY2025; free cash flow was negative: capital spending outran operating cash (-$530.0M in FY2025)
- Cash Compass: Fading · slow and jumpy, lagging its peers

## Edgarette's reading

Exposure: revenue $11.2B (FY2025), total debt $5.6B. Experience: revenue down 8.0% on the year, down 1.3% a year over 4 years; operating margin -14.1%, down from 7.2%. Soundness: equity 44.0% of assets, return on equity -17.2%, dividend per share up 12 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $7.8B and $12.1B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $6.4B to $14.5B. A statistical range, not company guidance. Against peers (13 filers, $50M+ revenue, industrial organic chemicals): operating margin -14.1% against a -3.2% median; growth -8.0% against -3.5%.

Range logged 2026-09-30, receipt 2833c696035d4486, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 2.05 Restructuring or exit costs: 2, latest 2026-09-29 ([filing](https://www.sec.gov/Archives/edgar/data/1262823/000126282326000067/0001262823-26-000067-index.htm))
- Item 5.02 Director or officer change: 4, latest 2026-08-31 ([filing](https://www.sec.gov/Archives/edgar/data/1262823/000119312526376996/0001193125-26-376996-index.htm))

## Recent filings

- 10-Q · filed 2026-11-04 · [filing](https://www.sec.gov/Archives/edgar/data/1262823/000126282326000080/0001262823-26-000080-index.htm)
- 8-K · filed 2026-11-04 · 2.02 Results of Operations and Financial Condition; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1262823/000126282326000076/0001262823-26-000076-index.htm)
- 8-K · filed 2026-09-29 · 2.05 Costs Associated with Exit or Disposal Activities; 7.01 Regulation FD Disclosure · [filing](https://www.sec.gov/Archives/edgar/data/1262823/000126282326000067/0001262823-26-000067-index.htm)
- 8-K · filed 2026-08-31 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/1262823/000119312526376996/0001193125-26-376996-index.htm)
- 10-Q · filed 2026-08-05 · [filing](https://www.sec.gov/Archives/edgar/data/1262823/000126282326000032/0001262823-26-000032-index.htm)
- 8-K · filed 2026-08-04 · 2.02 Results of Operations and Financial Condition; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1262823/000126282326000026/0001262823-26-000026-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001262823.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1262823

## Cite

POPS4, Edgar & Edgarette: Westlake Corporation (WLK) company card, from the company's own SEC filings, accessed 2026-11-14, https://www.pops4.com/boards/company/WLK. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.