WESTLAKE CORP (WLK)

NYSE · Common Stock · Industrial Organic Chemicals

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

American petrochemical company

Corporate structure

26 entities across 1 jurisdiction. Read directly from the company’s own 10-K EX-21 filed 2026-02-26 — see the exhibit.

Which other public companies file entities in the same places:

Subsidiaries of WESTLAKE CORP as disclosed in its SEC filing
Entity	Jurisdiction	Note
Eagle Spinco Inc.	Delaware
Rome Delaware Corp.	Delaware
Westlake Chemical OpCo LP	Delaware
Westlake Chemical Partners GP LLC	Delaware
Westlake Chemical Partners LP	Delaware
Westlake Chemicals & Vinyls LLC	Delaware
Westlake Compounds LLC	Delaware
Westlake DaVinci Roofscapes L.L.C.	Delaware
Westlake Dimex LLC	Delaware
Westlake Epoxy Inc.	Delaware
Westlake Longview Corporation	Delaware
Westlake Management Services, Inc.	Delaware
Westlake Natrium LLC	Delaware
Westlake Petrochemicals LLC	Delaware
Westlake Pipe & Fittings Corporation	Delaware
Westlake Polymers LLC	Delaware
Westlake Royal Building Products (USA) Inc.	Delaware
Westlake Royal Building Products Inc.	Delaware
Westlake Royal Roofing LLC	Delaware
Westlake Royal Stone LLC	Delaware
Westlake Royal Windows LLC	Delaware
Westlake Styrene LLC	Delaware
Westlake US 2 LLC	Delaware
Westlake Vinyls Company LP	Delaware
Westlake Vinyls, Inc.	Delaware
WPT LLC	Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

3 / 9

FAILReturn on assets positiveROA -7.6%
PASSOperating cash flow positiveOCF 465M
FAILReturn on assets improving2.9% → -7.6%
PASSCash flow exceeds earningsOCF 465M vs NI -1.5B
FAILLong-term debt ratio falling22.0% → 25.5% of assets
FAILCurrent ratio improving2.80 → 2.24
PASSNo share dilution129M → 128M shares
FAILGross margin improving16.1% → 7.3%
FAILAsset turnover improving0.59× → 0.56×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$7.5B	$330.0M	$772.0M	13.6%	128,089,058
FY2021	$11.8B	$2.0B	$1.7B	29.7%	128,697,982
FY2022	$15.8B	$2.2B	$2.3B	25.8%	128,845,562
FY2023	$12.5B	$479.0M	$1.3B	17.7%	128,598,441
FY2024	$12.1B	$602.0M	$306.0M	16.1%	129,206,922
FY2025	$11.2B	−$1.5B	−$530.0M	7.3%	128,260,331

Ownership flow

14 institutions tracked — 6 added, 6 reduced, 2 opened a new position. Index money added 392,252 shares while active managers cut 2,545,867.

Institutional holders of WESTLAKE CORP and their share-count change
Manager	Kind	Shares	Change	Value
WELLINGTON MANAGEMENT GROUP LLP	Active fund	141,816	−1,651,701	$10.4M
Capital World Investors	Active fund	2,842,348	−1,368,658	$207.5M
AQR CAPITAL MANAGEMENT LLC	Hedge fund	1,570,453	+1,310,383	$114.6M
FMR LLC	Active fund	361,243	−951,230	$26.4M
CITADEL ADVISORS LLC	Hedge fund	1,151,468	+304,282	$84.1M
BlackRock, Inc.	Index	3,294,162	+215,075	$240.5M
PRICE T ROWE ASSOCIATES INC /MD/	Active fund	2,206,676	−200,781	$161.1M
GEODE CAPITAL MANAGEMENT, LLC	Index	718,597	+104,263	$52.5M
STATE STREET CORP	Index	1,453,407	+72,914	$106.1M
JPMORGAN CHASE & CO	Active fund	163,287	+65,548	$12.3M
MORGAN STANLEY	Active fund	437,571	−48,937	$31.9M
BANK OF AMERICA CORP /DE/	Active fund	232,213	−4,773	$17.0M

NORGES BANK, Point72 Asset Management, L.P. hold a position with no prior filing to compare against, so their change is unknown rather than zero — and they are left out of the totals above.

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Dividend per share

2026Q2: $0.53
2026Q1: $0.53
2025Q3: $0.53
2025Q2: $0.53
2025Q1: $0.53
2024Q3: $0.53

Shares repurchased

2026Q1: $0
2025Q1: $30.0M
2024Q1: $0
2023Q1: $22.0M
2022Q1: $0
2021Q1: $0

Identity

CIK: 0001262823
LEI: 213800APFSX5MTD8J354
FIGI: BBG000PXZFW2
SIC: 2860 · Industrial Organic Chemicals
Incorporated: DE
Headquarters: HOUSTON, TX
Employees: 2,200
Founded: 1986-01-01

Ownership

Institutional: 31.6%
Institutions: 470
Insiders: 74.5%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other industrial organic chemicals companies

WESTLAKE CORP files under SIC 2860 — all 10 industrial organic chemicals companies compared on assets and F-score.

INTERNATIONAL FLAVORS & FRAGRANCES INCIFF NEWMARKET CORPNEU SENSIENT TECHNOLOGIES CORPSXT Green Plains Inc.GPRE REX AMERICAN RESOURCES CorpREX Gevo, Inc.GEVO

Questions about WESTLAKE CORP

How many subsidiaries does WESTLAKE CORP file with the SEC?: 26, listed in its most recent exhibit 21. All of them are incorporated in Delaware. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is WESTLAKE CORP financially healthy?: WESTLAKE CORP scores 3 out of 9 on the Piotroski F-score. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of WESTLAKE CORP?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (adding), Capital World Investors (trimming), PRICE T ROWE ASSOCIATES INC /MD/ (trimming). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

26 entities across 1 jurisdiction. Read directly from the company’s own 10-K EX-21 filed 2026-02-26 — see the exhibit.

Which other public companies file entities in the same places:

Delaware26

Entity

Jurisdiction

Note

Eagle Spinco Inc.

Delaware

Rome Delaware Corp.

Delaware

Westlake Chemical OpCo LP

Delaware

Westlake Chemical Partners GP LLC

Delaware

Westlake Chemical Partners LP

Delaware

Westlake Chemicals & Vinyls LLC

Delaware

Westlake Compounds LLC

Delaware

Westlake DaVinci Roofscapes L.L.C.

Delaware

Westlake Dimex LLC

Delaware

Westlake Epoxy Inc.

Delaware

Westlake Longview Corporation

Delaware

Westlake Management Services, Inc.

Delaware

Westlake Natrium LLC

Delaware

Westlake Petrochemicals LLC

Delaware

Westlake Pipe & Fittings Corporation

Delaware

Westlake Polymers LLC

Delaware

Westlake Royal Building Products (USA) Inc.

Delaware

Westlake Royal Building Products Inc.

Delaware

Westlake Royal Roofing LLC

Delaware

Westlake Royal Stone LLC

Delaware

Westlake Royal Windows LLC

Delaware

Westlake Styrene LLC

Delaware

Westlake US 2 LLC

Delaware

Westlake Vinyls Company LP

Delaware

Westlake Vinyls, Inc.

Delaware

WPT LLC

Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

3 / 9

FAILReturn on assets positiveROA -7.6%
PASSOperating cash flow positiveOCF 465M
FAILReturn on assets improving2.9% → -7.6%
PASSCash flow exceeds earningsOCF 465M vs NI -1.5B
FAILLong-term debt ratio falling22.0% → 25.5% of assets
FAILCurrent ratio improving2.80 → 2.24
PASSNo share dilution129M → 128M shares
FAILGross margin improving16.1% → 7.3%
FAILAsset turnover improving0.59× → 0.56×

Year

Revenue

Net income

Free cash flow

Gross margin

FY2020

$7.5B

$330.0M

$772.0M

13.6%

128,089,058

FY2021

$11.8B

$2.0B

$1.7B

29.7%

128,697,982

FY2022

$15.8B

$2.2B

$2.3B

25.8%

128,845,562

FY2023

$12.5B

$479.0M

$1.3B

17.7%

128,598,441

FY2024

$12.1B

$602.0M

$306.0M

16.1%

129,206,922

FY2025

$11.2B

−$1.5B

−$530.0M

7.3%

128,260,331

Ownership flow

14 institutions tracked — 6 added, 6 reduced, 2 opened a new position. Index money added 392,252 shares while active managers cut 2,545,867.

Institutional holders of WESTLAKE CORP and their share-count change
Manager	Kind	Shares	Change	Value
WELLINGTON MANAGEMENT GROUP LLP	Active fund	141,816	−1,651,701	$10.4M
Capital World Investors	Active fund	2,842,348	−1,368,658	$207.5M
AQR CAPITAL MANAGEMENT LLC	Hedge fund	1,570,453	+1,310,383	$114.6M
FMR LLC	Active fund	361,243	−951,230	$26.4M
CITADEL ADVISORS LLC	Hedge fund	1,151,468	+304,282	$84.1M
BlackRock, Inc.	Index	3,294,162	+215,075	$240.5M
PRICE T ROWE ASSOCIATES INC /MD/	Active fund	2,206,676	−200,781	$161.1M
GEODE CAPITAL MANAGEMENT, LLC	Index	718,597	+104,263	$52.5M
STATE STREET CORP	Index	1,453,407	+72,914	$106.1M
JPMORGAN CHASE & CO	Active fund	163,287	+65,548	$12.3M
MORGAN STANLEY	Active fund	437,571	−48,937	$31.9M
BANK OF AMERICA CORP /DE/	Active fund	232,213	−4,773	$17.0M

NORGES BANK, Point72 Asset Management, L.P. hold a position with no prior filing to compare against, so their change is unknown rather than zero — and they are left out of the totals above.

Questions about WESTLAKE CORP

How many subsidiaries does WESTLAKE CORP file with the SEC?

26, listed in its most recent exhibit 21. All of them are incorporated in Delaware. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is WESTLAKE CORP financially healthy?

WESTLAKE CORP scores 3 out of 9 on the Piotroski F-score. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of WESTLAKE CORP?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (adding), Capital World Investors (trimming), PRICE T ROWE ASSOCIATES INC /MD/ (trimming). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.