Western Accumulated Depreciation vs Intangible Assets Analysis

WES Stock

USD 38.06 0.17 0.45%

Western Midstream financial indicator trend analysis is more than just analyzing Western Midstream current accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Western Midstream is a good investment. Please check the relationship between Western Midstream Accumulated Depreciation and its Intangible Assets accounts. Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Western Midstream Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Accumulated Depreciation vs Intangible Assets

Accumulated Depreciation vs Intangible Assets Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Western Midstream Accumulated Depreciation account and Intangible Assets. At this time, the significance of the direction appears to have strong contrarian relationship.

The correlation between Western Midstream's Accumulated Depreciation and Intangible Assets is -0.55. Overlapping area represents the amount of variation of Accumulated Depreciation that can explain the historical movement of Intangible Assets in the same time period over historical financial statements of Western Midstream Partners, assuming nothing else is changed. The correlation between historical values of Western Midstream's Accumulated Depreciation and Intangible Assets is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Accumulated Depreciation of Western Midstream Partners are associated (or correlated) with its Intangible Assets. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Intangible Assets has no effect on the direction of Accumulated Depreciation i.e., Western Midstream's Accumulated Depreciation and Intangible Assets go up and down completely randomly.

Correlation Coefficient

-0.55

Relationship Direction	Negative
Relationship Strength	Very Weak

View All Relationships

Accumulated Depreciation

Accumulated depreciation is the total amount of depreciation for Western Midstream Partners fixed asset that has been charged to Western Midstream expense since that asset was acquired and made available for Western Midstream use. The accumulated depreciation account is Western Midstream asset account with a credit balance. It is also known as a contra asset account and appears on the balance sheet as a reduction from the gross amount of fixed assets reported by Western Midstream.

Intangible Assets

Non-physical assets possessed by a company, such as patents, trademarks, and copyrights, which provide long-term value.

Most indicators from Western Midstream's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Western Midstream current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Western Midstream Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

At this time, Western Midstream's Selling General Administrative is comparatively stable compared to the past year. Tax Provision is likely to gain to about 7.1 M in 2024, whereas Sales General And Administrative To Revenue is likely to drop 0.04 in 2024.

	2021	2022	2023	2024 (projected)
Gross Profit	2.0B	2.2B	1.6B	1.0B
Total Revenue	2.9B	3.3B	3.1B	1.7B

Gross Profit Total Revenue

Western Midstream fundamental ratios Correlations

	Total Assets	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Other Liab	Accounts Payable	Cash	Other Assets	Good Will	Other Current Assets	Total Liab	Intangible Assets	Property Plant Equipment	Common Stock Shares Outstanding	Property Plant And Equipment Net	Net Debt	Non Current Assets Total	Non Currrent Assets Other	Long Term Debt	Cash And Short Term Investments	Net Receivables	Non Current Liabilities Total	Inventory	Other Stockholder Equity	Total Current Assets	Short Long Term Debt Total
Total Assets		0.68	0.71	0.34	0.78	0.77	0.27	0.46	0.11	0.11	0.87	0.79	0.89	0.91	0.99	0.88	1.0	0.58	0.97	0.24	0.72	0.97	0.45	-0.17	0.64	0.97
Other Current Liab	0.68		0.88	0.2	0.79	0.67	0.57	0.31	-0.46	0.49	0.83	0.29	0.82	0.74	0.73	0.79	0.67	0.31	0.71	0.57	0.9	0.72	-0.08	-0.35	0.94	0.74
Total Current Liabilities	0.71	0.88		0.15	0.86	0.82	0.32	0.27	-0.44	0.66	0.91	0.4	0.9	0.71	0.78	0.89	0.72	0.28	0.75	0.32	0.97	0.76	-0.03	-0.3	0.9	0.79
Total Stockholder Equity	0.34	0.2	0.15		-0.04	0.03	0.19	0.07	0.14	-0.1	0.2	0.43	0.27	0.46	0.31	0.22	0.33	0.26	0.26	0.18	0.22	0.24	0.25	0.31	0.23	0.26
Other Liab	0.78	0.79	0.86	-0.04		0.83	0.15	0.26	-0.14	0.46	0.91	0.55	0.9	0.7	0.81	0.91	0.8	0.32	0.81	0.14	0.88	0.82	0.16	-0.3	0.75	0.84
Accounts Payable	0.77	0.67	0.82	0.03	0.83		0.05	0.21	-0.04	0.36	0.86	0.54	0.87	0.64	0.81	0.86	0.8	0.26	0.78	0.04	0.79	0.78	0.35	-0.19	0.64	0.8
Cash	0.27	0.57	0.32	0.19	0.15	0.05		0.46	-0.38	0.24	0.27	0.01	0.24	0.38	0.27	0.21	0.21	0.17	0.27	1.0	0.33	0.28	-0.31	-0.17	0.65	0.27
Other Assets	0.46	0.31	0.27	0.07	0.26	0.21	0.46		-0.02	0.11	0.41	0.35	0.37	0.47	0.45	0.4	0.45	0.58	0.51	0.46	0.24	0.49	0.09	-0.19	0.36	0.48
Good Will	0.11	-0.46	-0.44	0.14	-0.14	-0.04	-0.38	-0.02		-0.58	-0.18	0.52	-0.09	-0.12	0.0	-0.12	0.12	0.05	-0.03	-0.41	-0.4	-0.05	0.65	0.64	-0.48	-0.06
Other Current Assets	0.11	0.49	0.66	-0.1	0.46	0.36	0.24	0.11	-0.58		0.47	-0.11	0.43	0.13	0.2	0.46	0.13	-0.2	0.2	0.27	0.66	0.22	-0.34	-0.16	0.66	0.27
Total Liab	0.87	0.83	0.91	0.2	0.91	0.86	0.27	0.41	-0.18	0.47		0.58	0.99	0.84	0.91	1.0	0.89	0.51	0.92	0.26	0.92	0.92	0.31	-0.35	0.83	0.94
Intangible Assets	0.79	0.29	0.4	0.43	0.55	0.54	0.01	0.35	0.52	-0.11	0.58		0.64	0.59	0.72	0.61	0.8	0.37	0.68	-0.03	0.44	0.67	0.46	0.25	0.32	0.66
Property Plant Equipment	0.89	0.82	0.9	0.27	0.9	0.87	0.24	0.37	-0.09	0.43	0.99	0.64		0.84	0.92	0.99	0.91	0.46	0.9	0.23	0.91	0.9	0.34	-0.21	0.81	0.92
Common Stock Shares Outstanding	0.91	0.74	0.71	0.46	0.7	0.64	0.38	0.47	-0.12	0.13	0.84	0.59	0.84		0.93	0.84	0.9	0.69	0.93	0.36	0.71	0.92	0.34	-0.32	0.69	0.92
Property Plant And Equipment Net	0.99	0.73	0.78	0.31	0.81	0.81	0.27	0.45	0.0	0.2	0.91	0.72	0.92	0.93		0.91	0.99	0.58	0.99	0.24	0.78	0.99	0.41	-0.25	0.69	0.99
Net Debt	0.88	0.79	0.89	0.22	0.91	0.86	0.21	0.4	-0.12	0.46	1.0	0.61	0.99	0.84	0.91		0.9	0.51	0.92	0.2	0.9	0.92	0.37	-0.31	0.79	0.94
Non Current Assets Total	1.0	0.67	0.72	0.33	0.8	0.8	0.21	0.45	0.12	0.13	0.89	0.8	0.91	0.9	0.99	0.9		0.59	0.97	0.18	0.73	0.97	0.48	-0.17	0.63	0.97
Non Currrent Assets Other	0.58	0.31	0.28	0.26	0.32	0.26	0.17	0.58	0.05	-0.2	0.51	0.37	0.46	0.69	0.58	0.51	0.59		0.66	0.15	0.21	0.64	0.51	-0.43	0.21	0.61
Long Term Debt	0.97	0.71	0.75	0.26	0.81	0.78	0.27	0.51	-0.03	0.2	0.92	0.68	0.9	0.93	0.99	0.92	0.97	0.66		0.25	0.75	1.0	0.45	-0.35	0.68	1.0
Cash And Short Term Investments	0.24	0.57	0.32	0.18	0.14	0.04	1.0	0.46	-0.41	0.27	0.26	-0.03	0.23	0.36	0.24	0.2	0.18	0.15	0.25		0.33	0.26	-0.34	-0.19	0.65	0.25
Net Receivables	0.72	0.9	0.97	0.22	0.88	0.79	0.33	0.24	-0.4	0.66	0.92	0.44	0.91	0.71	0.78	0.9	0.73	0.21	0.75	0.33		0.76	-0.01	-0.29	0.93	0.79
Non Current Liabilities Total	0.97	0.72	0.76	0.24	0.82	0.78	0.28	0.49	-0.05	0.22	0.92	0.67	0.9	0.92	0.99	0.92	0.97	0.64	1.0	0.26	0.76		0.42	-0.37	0.69	1.0
Inventory	0.45	-0.08	-0.03	0.25	0.16	0.35	-0.31	0.09	0.65	-0.34	0.31	0.46	0.34	0.34	0.41	0.37	0.48	0.51	0.45	-0.34	-0.01	0.42		0.05	-0.14	0.42
Other Stockholder Equity	-0.17	-0.35	-0.3	0.31	-0.3	-0.19	-0.17	-0.19	0.64	-0.16	-0.35	0.25	-0.21	-0.32	-0.25	-0.31	-0.17	-0.43	-0.35	-0.19	-0.29	-0.37	0.05		-0.3	-0.35
Total Current Assets	0.64	0.94	0.9	0.23	0.75	0.64	0.65	0.36	-0.48	0.66	0.83	0.32	0.81	0.69	0.69	0.79	0.63	0.21	0.68	0.65	0.93	0.69	-0.14	-0.3		0.71
Short Long Term Debt Total	0.97	0.74	0.79	0.26	0.84	0.8	0.27	0.48	-0.06	0.27	0.94	0.66	0.92	0.92	0.99	0.94	0.97	0.61	1.0	0.25	0.79	1.0	0.42	-0.35	0.71

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Western Midstream Account Relationship Matchups

Western Midstream fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	12.3B	11.8B	11.3B	11.3B	12.5B	6.9B
Other Current Liab	165.3M	279.9M	280.4M	306.6M	295.7M	310.5M
Total Current Liabilities	486.0M	960.9M	1.1B	903.9M	1.3B	1.4B
Total Stockholder Equity	3.3B	2.9B	3.1B	3.1B	2.9B	1.9B
Other Liab	560.6M	558.0M	601.1M	656.8M	755.3M	793.0M
Accounts Payable	293.1M	210.7M	326.1M	360.6M	362.5M	380.6M
Cash	100.0M	444.9M	202.0M	286.7M	272.8M	187.6M
Other Assets	334.2M	1.4B	87.0M	80.8M	92.9M	88.3M
Other Current Assets	93K	17.9M	1.9M	6.4M	35.8M	37.6M
Total Liab	9.0B	8.9B	8.2B	8.2B	9.4B	9.9B
Intangible Assets	809.4M	776.4M	744.7M	713.1M	681.4M	494.9M
Property Plant Equipment	9.1B	8.7B	8.5B	8.5B	9.8B	10.3B
Common Stock Shares Outstanding	415.8M	435.6M	411.3M	396.2M	384.4M	248.2M
Property Plant And Equipment Net	9.1B	8.7B	8.5B	8.5B	9.7B	5.6B
Net Debt	7.9B	7.0B	6.2B	6.5B	7.7B	8.1B
Non Current Assets Total	11.9B	10.9B	10.6B	10.4B	11.5B	7.2B
Non Currrent Assets Other	2.6B	2.2B	2.1B	152.6M	104.0M	98.8M
Long Term Debt	8.0B	7.4B	6.4B	6.6B	7.3B	3.9B
Cash And Short Term Investments	100.0M	444.9M	202.0M	286.7M	272.8M	199.3M
Net Receivables	272.3M	471.2M	467.1M	590.3M	681.3M	715.4M
Liabilities And Stockholders Equity	12.3B	11.8B	11.3B	11.3B	12.5B	7.4B
Non Current Liabilities Total	8.5B	8.0B	7.0B	7.3B	8.1B	4.2B
Inventory	24.4M	882K	3.4M	3.8M	2.6M	2.4M
Other Stockholder Equity	149.6M	134.1M	137.7M	(1.1B)	3.0B	2.4B
Total Current Assets	402.4M	943.1M	684.8M	900.4M	992.4M	1.0B
Short Long Term Debt Total	8.0B	7.4B	6.4B	6.8B	8.0B	4.4B
Noncontrolling Interest In Consolidated Entity	2.6B	149.6M	134.1M	137.7M	158.3M	150.4M
Short Term Investments	566.2M	845.3M	1.3B	1.2B	1.4B	1.5B
Deferred Long Term Liab	18.9M	22.2M	12.4M	14.4M	16.6M	9.0M
Common Stock	3.2B	2.8B	3.0B	3.0B	2.9B	2.1B
Net Tangible Assets	1.9B	2.1B	2.2B	2.4B	2.7B	2.3B
Long Term Debt Total	8.0B	7.4B	6.4B	6.6B	7.6B	5.4B
Long Term Investments	1.5B	1.2B	1.2B	944.7M	904.5M	1.1B
Property Plant And Equipment Gross	9.1B	8.7B	12.8B	13.4B	14.9B	9.1B
Non Current Liabilities Other	544.7M	535.9M	325.8M	675.7M	480.2M	404.8M
Accumulated Depreciation	(3.3B)	(3.9B)	(4.3B)	(4.8B)	(4.3B)	(4.6B)

Pair Trading with Western Midstream

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Western Midstream position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Western Midstream will appreciate offsetting losses from the drop in the long position's value.

Moving together with Western Stock

0.95	AM	Antero Midstream Partners	Pair Corr
0.79	EE	Excelerate Energy	Pair Corr
0.76	ET	Energy Transfer LP	Pair Corr
0.64	TK	Teekay	Pair Corr
0.81	DLNG	Dynagas LNG Partners Financial Report 18th of June 2024	Pair Corr

The ability to find closely correlated positions to Western Midstream could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Western Midstream when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Western Midstream - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Western Midstream Partners to buy it.

The correlation of Western Midstream is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Western Midstream moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Western Midstream moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Correlation analysis and pair trading evaluation for Western Midstream can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.

Pair Correlation Correlation Matching

Additional Tools for Western Stock Analysis

When running Western Midstream's price analysis, check to measure Western Midstream's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Western Midstream is operating at the current time. Most of Western Midstream's value examination focuses on studying past and present price action to predict the probability of Western Midstream's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Western Midstream's price. Additionally, you may evaluate how the addition of Western Midstream to your portfolios can decrease your overall portfolio volatility.

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