WLK (WLK) financial statements
WLK reported revenue of $11.2B in fiscal 2025, up 9.2% a year over 9 years.
Net income was -$1.5B and the operating margin -14.1%, against 11.5% in 2016.
Free cash flow was -$530M, and the company returned $272M in dividends and $63M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from WLK's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.1B | $8.0B | $8.6B | $8.1B | $7.5B | $11.8B | $15.8B | $12.5B | $12.1B | $11.2B |
| Cost of revenue | $4.1B | $6.3B | $6.6B | $6.9B | $6.5B | $8.3B | $11.7B | $10.3B | $10.2B | $10.4B |
| Gross profit | $983M | $1.8B | $2.0B | $1.3B | $1.0B | $3.5B | $4.1B | $2.2B | $2.0B | $813M |
| Selling, general and admin | $258M | $399M | $445M | $458M | $449M | $551M | $835M | $865M | $874M | $900M |
| Operating income | $583M | $1.2B | $1.4B | $656M | $429M | $2.8B | $3.0B | $729M | $875M | -$1.6B |
| Interest expense | $79M | $159M | $126M | $124M | $142M | $176M | $177M | $165M | $159M | $171M |
| Pre-tax income | $558M | $1.1B | $1.3B | $570M | $331M | $2.7B | $2.9B | $700M | $938M | -$1.6B |
| Income tax | $138M | -$258M | $300M | $108M | -$42M | $607M | $649M | $178M | $291M | -$126M |
| Net income | $399M | $1.3B | $996M | $421M | $330M | $2.0B | $2.2B | $479M | $602M | -$1.5B |
| EPS (diluted) | $3.06 | $10.00 | $7.62 | $3.25 | $2.56 | $15.58 | $17.34 | $3.70 | $4.64 | -$11.70 |
| Diluted shares | 130M | 130M | 130M | 129M | 128M | 129M | 129M | 129M | 129M | 128M |
| Gross margin | 19.4% | 21.9% | 23.0% | 15.5% | 13.6% | 29.7% | 25.8% | 17.7% | 16.1% | 7.3% |
| Operating margin | 11.5% | 15.2% | 16.3% | 8.1% | 5.7% | 23.8% | 19.3% | 5.8% | 7.2% | -14.1% |
| Net margin | 7.9% | 16.2% | 11.5% | 5.2% | 4.4% | 17.1% | 14.2% | 3.8% | 5.0% | -13.5% |
Balance sheet
Fiscal years, from WLK's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $459M | $1.5B | $753M | $728M | $1.3B | $1.9B | $2.2B | $3.3B | $2.9B | $2.9B |
| Receivables | $939M | $1.0B | $1.0B | $1.0B | $1.2B | $1.9B | $1.8B | $1.6B | $1.5B | $1.5B |
| Inventory | $801M | $900M | $1.0B | $936M | $918M | $1.4B | $1.9B | $1.6B | $1.7B | $1.7B |
| Total current assets | $2.4B | $3.5B | $2.8B | $2.7B | $3.5B | $5.3B | $6.0B | $6.6B | $6.2B | $6.2B |
| Property, plant and equipment | $6.4B | $6.4B | $6.6B | $6.9B | $6.9B | $7.6B | $8.5B | $8.5B | $8.6B | $8.6B |
| Goodwill | $947M | $1.0B | $1.0B | $1.1B | $1.1B | $2.0B | $2.2B | $2.0B | $2.0B | $1.3B |
| Total assets | $10.9B | $12.1B | $11.6B | $13.3B | $13.8B | $18.5B | $20.6B | $21.0B | $20.8B | $20.0B |
| Total current liabilities | $1.2B | $2.0B | $1.2B | $1.2B | $1.4B | $2.3B | $2.3B | $2.8B | $2.2B | $2.8B |
| Long-term debt | $3.7B | $3.1B | $2.7B | $3.4B | $3.6B | $4.9B | $4.9B | $4.6B | $4.6B | $5.1B |
| Total liabilities | $7.0B | $6.7B | $5.5B | $6.9B | $7.3B | $9.9B | $10.1B | $10.3B | $9.7B | $10.7B |
| Shareholders' equity | $3.5B | $4.9B | $5.6B | $5.9B | $6.0B | $8.0B | $9.9B | $10.2B | $10.5B | $8.8B |
| Net debt | $3.2B | $2.3B | $1.9B | $2.7B | $2.3B | $3.3B | $2.7B | $1.6B | $1.6B | $2.9B |
Cash flow
Fiscal years, from WLK's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $867M | $1.5B | $1.4B | $1.3B | $1.3B | $2.4B | $3.4B | $2.3B | $1.3B | $465M |
| Capital spending | $629M | $577M | $702M | $787M | $525M | $658M | $1.1B | $1.0B | $1.0B | $995M |
| Free cash flow | $238M | $951M | $707M | $514M | $772M | $1.7B | $2.3B | $1.3B | $306M | -$530M |
| Stock-based compensation | $14M | $23M | $22M | $25M | $29M | $31M | $36M | $43M | $41M | $41M |
| Dividends paid | $97M | $103M | $120M | $132M | $137M | $145M | $169M | $221M | $264M | $272M |
| Share buybacks (net) | -$67M | $0 | -$106M | -$30M | -$54M | -$30M | -$101M | -$23M | -$60M | -$63M |
| Net borrowing | $1.4B | $745M | -$1.2B | $784M | $45M | $1.7B | -$250M | $0 | -$300M | $933M |
| Free cash flow margin | 4.7% | 11.8% | 8.2% | 6.3% | 10.3% | 14.7% | 14.5% | 10.4% | 2.5% | -4.7% |
| Dividends per share | $0.75 | $0.80 | $0.92 | $1.03 | $1.07 | $1.13 | $1.31 | $1.72 | $2.04 | $2.12 |
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Open WLK in InvestinglyQuestions
What was WLK's revenue in 2025?
$11.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does WLK generate?
-$530M in fiscal 2025 (operating cash flow minus capital spending).
From WLK's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.