Westlake (WLK) FY2022 results: revenue $15.8 billion, up 34.1% on the year
Westlake Corp. (WLK) reported revenue of $15.8 billion for fiscal 2022, the year ended 31 December 2022, up 34.1% on the year before. Net income was $2.2 billion, up 11.5%, and diluted earnings per share $17.34. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2023.
Revenue
$15.8 billion
+34.1% on the year
FY2015FY2022
Operating margin
19.3%
23.8% a year earlier
FY2015FY2022
Net income
$2.2 billion
+11.5% on the year
FY2015FY2022
Diluted EPS
$17.34
+11.3% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
3,395
2,394
1,297
+41.8%
Capital expenditure
1,108
658
525
+68.4%
Free cash flow
2,287
1,736
772
+31.7%
Free cash flow margin
14.5%
14.7%
10.3%
Cash from investing
-2,479
-3,213
-509
Cash from financing
-587
1,437
-216
Depreciation and amortisation
1,056
840
773
+25.7%
Share-based compensation
36.0
31.0
29.0
+16.1%
Buybacks
101
30.0
54.0
+236.7%
Dividends paid
169
145
137
+16.6%
Dividend per share
$1.31
$1.14
$1.06
+15.3%
Diluted shares, weighted
129m
129m
128m
+0.1%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
9,931
7,955
6,043
+24.8%
Non-controlling interest
534
573
535
-6.8%
Debt
4,879
5,180
3,566
-5.8%
Operating lease liabilities
504
461
376
+9.3%
Other liabilities
4,702
4,290
3,315
+9.6%
Total liabilities and equity
20,550
18,459
13,835
+11.3%
Fixed assets
8,477
7,606
6,920
+11.5%
Goodwill
2,161
2,024
1,083
+6.8%
Intangible assets
993
1,083
444
-8.3%
Securities held for sale or to maturity
n/a
n/a
0.0
Cash and equivalents
2,228
1,908
1,313
+16.8%
Receivables
1,651
1,741
1,078
-5.2%
Inventory
1,866
1,407
918
+32.6%
Other assets
3,174
2,690
2,079
+18.0%
Total assets
20,550
18,459
13,835
+11.3%
10-K for the year ended 31 December 2022, filed 22 February 2023: the filing.