The story
Founded by Ting Tsung Chao in 1986.1
WLK on NYSE
Westlake Corporation
Logo: Unknown author Unknown author, Public domain, via Wikimedia Commons6
American petrochemical company
Westlake Corporation is an international manufacturer and supplier of petrochemicals, polymers and fabricated building products, which are fundamental to various consumer and industrial markets. The company was founded by Ting Tsung Chao in 1986. it is the largest producer of low-density polyethylene (LDPE) in the US and ranks among the Forbes Global 2000. Westlake Chemical operates in two segments: Olefins and Vinyls, and is also an integrated producer of vinyls, with substantial downstream integration into polyvinyl chloride (PVC) building products.3 It employed 2,200 people.1 Its revenue was $15.8 billion in 2022.1 Its shares trade on NYSE under the symbol WLK.1 Wikipedia text CC BY-SA 4.0
$63.13 down 0.48 (0.75%)Price as of Oct 16, 2026 at 19:58 UTC
Last updated Oct 21, 2026.
Overview
1986Founded1
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- TickerWLK on NYSE1
- Industrychemical industry, petroleum industry1
- HeadquartersHouston1
- Websitewww.westlake.com
- Legal formDelaware corporation1
- Incorporated inDE7
- Business address5444 Westheimer, Suite 101, Houston, Tx7
- Filer categoryLarge accelerated filer7
- LEIGOXNEVUM0LL78B1OS3444
- StatusActive4
- LEI statusIssued and current4
- Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States4
- Registered withDivision of Corporations, Department of State, 22726384
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Westlake Corporation is an international manufacturer and supplier of petrochemicals, polymers and fabricated building products, which are fundamental to various consumer and industrial markets. The company was founded by Ting Tsung Chao in 1986. it is the largest producer of low-density polyethylene (LDPE) in the US and ranks among the Forbes Global 2000. Westlake Chemical operates in two segments: Olefins and Vinyls, and is also an integrated producer of vinyls, with substantial downstream integration into polyvinyl chloride (PVC) building products.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
7.3%Gross margin10
-14.1%Operating margin10
-13.5%Net margin10
-8.0%Revenue growth, 202510
-17.2%Return on equity10
0.58×Debt to equity10
-$530.0MFree cash flow10
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Performance and Essential Materials brought in 63% of the revenue Westlake Corporation broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Performance and Essential Materials | $8.3B | $7.8B | $7.0B |
| Housing and Infrastructure Products | $4.2B | $4.3B | $4.1B |
Regions
United States brought in 71% of the revenue Westlake Corporation broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $9.0B | $8.8B | $8.0B |
| Other Foreign Countries | $1.3B | $1.2B | $1.1B |
| Canada | $808.0M | $792.0M | $777.0M |
| Germany | $602.0M | $594.0M | $583.0M |
| Mexico | $217.0M | $206.0M | $194.0M |
| China | $220.0M | $195.0M | $162.0M |
| Brazil | $215.0M | $142.0M | $153.0M |
| Italy | $135.0M | $145.0M | $144.0M |
| France | $138.0M | $120.0M | $125.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue91¢$10.4B
- Selling, general and admin8¢$900.0M
- Income tax1¢$126.0M
Out of $11.2B in revenue.10 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending75¢$995.0M
- Dividends paid20¢$272.0M
- Share buybacks5¢$63.0M
Out of $465.0M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.10
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.10
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net sales | $11.2B | $12.1B | $12.5B |
| Cost of sales | $10.4B | $10.2B | $10.3B |
| Gross profit | $813.0M | $2.0B | $2.2B |
| Selling, general and administrative expenses | $900.0M | $874.0M | $865.0M |
| Impairment of goodwill and long-lived assets | $727.0M | $0 | $475.0M |
| Amortization of intangibles | $124.0M | $117.0M | $122.0M |
| Restructuring, transaction and integration-related costs | $640.0M | $91.0M | $28.0M |
| Income (loss) from operations | -$1.6B | $875.0M | $729.0M |
| Interest expense | -$171.0M | -$159.0M | -$165.0M |
| Other income, net | $152.0M | $222.0M | $136.0M |
| Income (loss) before income taxes | -$1.6B | $938.0M | $700.0M |
| Income tax provision (benefit) | -$126.0M | $291.0M | $178.0M |
| Net income (loss) | -$1.5B | $647.0M | $522.0M |
| Net income attributable to noncontrolling interests | $37.0M | $45.0M | $43.0M |
| Net income (loss) attributable to Westlake Corporation | -$1.5B | $602.0M | $479.0M |
| Basic (in dollars per share) | -$11.70 | $4.66 | $3.73 |
| Diluted (in dollars per share) | -$11.70 | $4.64 | $3.70 |
| Basic (in shares) | 128.3M shares | 128.5M shares | 127.8M shares |
| Diluted (in shares) | 128.3M shares | 129.2M shares | 128.6M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.10
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $2.7B | $2.9B | ||
| Available-for-sale securities | $204.0M | $0 | ||
| Accounts receivable, net | $1.5B | $1.5B | ||
| Inventories | $1.7B | $1.7B | ||
| Prepaid expenses and other current assets | $131.0M | $115.0M | ||
| Total current assets | $6.2B | $6.2B | ||
| Property, plant and equipment, net | $8.6B | $8.6B | ||
| Operating lease right-of-use assets | $798.0M | $801.0M | ||
| Goodwill | $1.3B | $2.0B | $2.0B | |
| Customer relationships, net | $743.0M | $820.0M | ||
| Other intangible assets, net | $439.0M | $462.0M | ||
| Equity method investments | $1.1B | $1.1B | ||
| Other assets, net | $784.0M | $708.0M | ||
| Total assets | $20.0B | $20.8B | ||
| Accounts payable | $783.0M | $851.0M | ||
| Accrued and other liabilities | $1.5B | $1.4B | ||
| Current portion of long-term debt, net | $497.0M | $6.0M | ||
| Total current liabilities | $2.8B | $2.2B | ||
| Long-term debt, net | $5.1B | $4.6B | ||
| Deferred income taxes | $1.3B | $1.6B | ||
| Pension and other post-retirement benefits | $286.0M | $304.0M | ||
| Operating lease liabilities | $688.0M | $713.0M | ||
| Other liabilities | $492.0M | $362.0M | ||
| Total liabilities | $10.7B | $9.7B | ||
| Preferred stock, $0.01 par value, 50,000,000 shares authorized; no shares issued and outstanding | $0 | $0 | ||
| Common stock, $0.01 par value, 300,000,000 shares authorized; 134,651,380 and 134,651,380 shares issued at December 31, 2025 and 2024, respectively | $1.0M | $1.0M | ||
| Common stock, held in treasury, at cost; 6,740,232 and 6,424,366 shares at December 31, 2025 and 2024, respectively | -$513.0M | -$467.0M | ||
| Additional paid-in capital | $683.0M | $656.0M | ||
| Retained earnings | $8.7B | $10.5B | ||
| Accumulated other comprehensive loss | -$80.0M | -$144.0M | ||
| Total Westlake Corporation stockholders' equity | $8.8B | $10.5B | ||
| Noncontrolling interests | $503.0M | $516.0M | ||
| Total equity | $9.3B | $11.0B | $10.8B | $10.5B |
| Total liabilities and equity | $20.0B | $20.8B | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized | 50.0M shares | 50.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, par value per share (in dollars per share) | $0.01 | $0.01 | ||
| Common Stock, shares authorized | 300.0M shares | 300.0M shares | ||
| Common Stock, Shares | 134.7M shares | 134.7M shares | ||
| Treasury Stock, Shares | 6.7M shares | 6.4M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $2.7B | $2.9B | ||
| Available-for-sale securities | $204.0M | $0 | ||
| Accounts receivable, net | $1.5B | $1.5B | ||
| Inventories | $1.7B | $1.7B | ||
| Prepaid expenses and other current assets | $131.0M | $115.0M | ||
| Total current assets | $6.2B | $6.2B | ||
| Property, plant and equipment, net | $8.6B | $8.6B | ||
| Operating lease right-of-use assets | $798.0M | $801.0M | ||
| Goodwill | $1.3B | $2.0B | $2.0B | |
| Customer relationships, net | $743.0M | $820.0M | ||
| Other intangible assets, net | $439.0M | $462.0M | ||
| Equity method investments | $1.1B | $1.1B | ||
| Other assets, net | $784.0M | $708.0M | ||
| Total assets | $20.0B | $20.8B | ||
| Accounts payable | $783.0M | $851.0M | ||
| Accrued and other liabilities | $1.5B | $1.4B | ||
| Current portion of long-term debt, net | $497.0M | $6.0M | ||
| Total current liabilities | $2.8B | $2.2B | ||
| Long-term debt, net | $5.1B | $4.6B | ||
| Deferred income taxes | $1.3B | $1.6B | ||
| Pension and other post-retirement benefits | $286.0M | $304.0M | ||
| Operating lease liabilities | $688.0M | $713.0M | ||
| Other liabilities | $492.0M | $362.0M | ||
| Total liabilities | $10.7B | $9.7B | ||
| Preferred stock, $0.01 par value, 50,000,000 shares authorized; no shares issued and outstanding | $0 | $0 | ||
| Common stock, $0.01 par value, 300,000,000 shares authorized; 134,651,380 and 134,651,380 shares issued at December 31, 2025 and 2024, respectively | $1.0M | $1.0M | ||
| Common stock, held in treasury, at cost; 6,740,232 and 6,424,366 shares at December 31, 2025 and 2024, respectively | -$513.0M | -$467.0M | ||
| Additional paid-in capital | $683.0M | $656.0M | ||
| Retained earnings | $8.7B | $10.5B | ||
| Accumulated other comprehensive loss | -$80.0M | -$144.0M | ||
| Total Westlake Corporation stockholders' equity | $8.8B | $10.5B | ||
| Noncontrolling interests | $503.0M | $516.0M | ||
| Total equity | $9.3B | $11.0B | $10.8B | $10.5B |
| Total liabilities and equity | $20.0B | $20.8B | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized | 50.0M shares | 50.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, par value per share (in dollars per share) | $0.01 | $0.01 | ||
| Common Stock, shares authorized | 300.0M shares | 300.0M shares | ||
| Common Stock, Shares | 134.7M shares | 134.7M shares | ||
| Treasury Stock, Shares | 6.7M shares | 6.4M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.10
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | -$1.5B | $647.0M | $522.0M |
| Depreciation and amortization | $1.2B | $1.1B | $1.1B |
| Stock-based compensation expense | $41.0M | $41.0M | $43.0M |
| Loss from disposition and write-off of assets and accelerated depreciation and amortization | $359.0M | $43.0M | $45.0M |
| Impairment of goodwill and long-lived assets | $727.0M | $0 | $475.0M |
| Deferred income taxes | -$177.0M | -$35.0M | -$175.0M |
| Other gains, net | -$7.0M | -$27.0M | -$3.0M |
| Accounts receivable | $15.0M | $87.0M | $225.0M |
| Inventories | $51.0M | -$97.0M | $250.0M |
| Prepaid expenses and other current assets | -$11.0M | -$35.0M | -$19.0M |
| Accounts payable | -$67.0M | -$20.0M | -$26.0M |
| Accrued and other liabilities | $89.0M | -$213.0M | $170.0M |
| Other, net | -$262.0M | -$191.0M | -$268.0M |
| Net cash provided by operating activities | $465.0M | $1.3B | $2.3B |
| Additions to investments in unconsolidated subsidiaries | -$33.0M | -$26.0M | -$25.0M |
| Additions to property, plant and equipment | -$995.0M | -$1.0B | -$1.0B |
| Payments to Acquire Debt Securities, Available-for-Sale | -$272.0M | $0 | $0 |
| Proceeds from Sale and Maturity of Debt Securities, Available-for-Sale | $68.0M | $0 | $0 |
| Other, net | $9.0M | $33.0M | $22.0M |
| Net cash used for investing activities | -$1.2B | -$1.0B | -$1.0B |
| Distributions to noncontrolling interests | -$51.0M | -$49.0M | -$54.0M |
| Dividends paid | -$272.0M | -$264.0M | -$221.0M |
| Proceeds from senior notes issuance, net | $1.2B | $0 | $0 |
| Repayment of senior notes | -$254.0M | -$300.0M | $0 |
| Repurchase of common stock for treasury | -$63.0M | -$60.0M | -$23.0M |
| Other, net | -$17.0M | $23.0M | $53.0M |
| Net cash provided by (used for) financing activities | $530.0M | -$650.0M | -$245.0M |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | $33.0M | -$47.0M | $19.0M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | -$195.0M | -$384.0M | $1.1B |
No quarter-by-quarter statement was filed.
Corporate structure
Westlake Corporation sits at the top of its group. 40 entities, 9 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Westlake Corporation
- TTWF LP Filed SC 13G/A on Westlake Corporation, latest Feb 14, 2024 (3 filings since Jan 21, 2022)
- Westlake Corporation Wilmington, Delaware, United States
- Westlake Chemical Partners LP Wilmington, Delaware, United States
- Westlake Chemical OpCo GP LLC Subsidiary · Delaware, United States
- Eagle Spinco Inc. Subsidiary · Delaware, United States
- Rome Delaware Corp. Subsidiary · Delaware, United States
- Taiwan Chlorine Industries, Ltd. Subsidiary · Taiwan
- Westlake Canada Inc. Subsidiary · Canada
- Westlake Chemical Canada Inc. Subsidiary · Canada
- WESTLAKE CHEMICAL FINANCE CORPORATION Subsidiary · Wilmington, Delaware, United States
- WESTLAKE CHEMICAL OPCO LP Subsidiary · Wilmington, Delaware, United States
- Westlake Chemical Partners GP LLC Subsidiary · Delaware, United States
- Westlake Chemicals & Vinyls LLC Subsidiary · Delaware, United States
- Westlake Compounds LLC Subsidiary · Delaware, United States
- Westlake DaVinci Roofscapes L.L.C. Subsidiary · Delaware, United States
- Westlake Dimex LLC Subsidiary · Delaware, United States
- Westlake Epoxy B.V. Subsidiary · Netherlands
- Westlake Germany GmbH & Co. KG Subsidiary · Germany
- Westlake International I B.V. Subsidiary · Netherlands
- Westlake Longview Corporation Subsidiary · Delaware, United States
- Westlake Management (Shanghai) Co. Ltd Subsidiary · China
- Westlake Management Services, Inc. Subsidiary · Delaware, United States
- Westlake Natrium LLC Subsidiary · Delaware, United States
- WESTLAKE PETROCHEMICALS LLC Subsidiary · Houston, Texas, United States
- Westlake Pipe & Fittings Corporation Subsidiary · Delaware, United States
- Westlake Polymers LLC Subsidiary · Delaware, United States
- Westlake Royal Building Products (USA) Inc. Subsidiary · Delaware, United States
- Westlake Royal Building Products Inc. Subsidiary · Delaware, United States
- and 13 more
- Westlake Chemical Partners LP Wilmington, Delaware, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Westlake Corporation reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Accumulated depreciation | $6.7B10 Dec 31, 2025 | $5.8B10 Dec 31, 2024 | +15.2% |
| Property and equipment, net | $8.6B10 Dec 31, 2025 | $8.6B10 Dec 31, 2024 | −0.3% |
| Operating-lease assets (leased space) | $798.0M10 Dec 31, 2025 | $801.0M10 Dec 31, 2024 | −0.4% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $2.7B10 Dec 31, 2025 | $2.9B10 Dec 31, 2024 | −6.7% |
| Debt securities available for sale | $204.0M10 Dec 31, 2025 | $010 Dec 31, 2024 | |
| Stakes in other companies (equity method) | $1.1B10 Dec 31, 2025 | $1.1B10 Dec 31, 2024 | −1.8% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $1.3B10 Dec 31, 2025 | $2.0B10 Dec 31, 2024 | −35.3% |
| Finite-lived intangibles, net | $743.0M10 Dec 31, 2025 | $820.0M10 Dec 31, 2024 | −9.4% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $1.7B10 Dec 31, 2025 | $1.7B10 Dec 31, 2024 | −2.6% |
| Finished goods | $1.0B10 Dec 31, 2025 | $1.0B10 Dec 31, 2024 | −1.6% |
| Supplies | $257.0M10 Dec 31, 2025 | $255.0M10 Dec 31, 2024 | +0.8% |
Properties, in its own words
Information concerning the principal locations from which our products are manufactured are included in the tables set forth under the captions "Performance and Essential Materials Business—Products" and "Housing and Infrastructure Products Business—Products" contained in "Item 1. Business."
Headquarters
The rest of Item 2
Our principal executive offices are located in Houston, Texas. Some of our office space is leased, at market rates, from an affiliate of our principal stockholder. See Note 19 "Related Party and Affiliate Transactions" to Consolidated Financial Statements appearing elsewhere in this Form 10-K and "Certain Relationships and Related Party Transactions" in our proxy statement to be filed with the SEC pursuant to Regulation 14A with respect to our 2026 annual meeting of stockholders (the "Proxy Statement").
Item 2 of the 10-K filed Feb 26, 2026.18
Leadership
Who has led Westlake Corporation, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
1990200020102020
- FounderTing Tsung Chao1
- Chief executive officerJean-Marc Gilson Jul 15, 2024 to now19
- Chief executive officerLawrence E. Teel Feb 17, 2021 to Feb 26, 202120
- PresidentJean-Marc Gilson Jul 15, 2024 to now19
- Chief financial officerJonathan Baksht Jun 15, 2026 to now21
- Chief financial officerMark Steven Bender Mar 5, 2007 to Jun 15, 202622
- Chief financial officerJohn D. Gibbons Mar 28, 2006 to May 17, 200623
- Chief operating officerRoger L. Kearns Feb 17, 2021 to Mar 15, 202324
Board members and other officers (40)
- SVP, PEM Segment HeadBrian John Powers Apr 2, 2026 to now25
- VP and CAOTommy Darby Aug 31, 2026 to now26
- SVP, HIPScott Thomas Szwejbka Apr 14, 2025 to now27
- VP and CAOJeffrey Adam Holy May 2, 2024 to now28
- SVP, Operations-PEM & Corp LogThomas J. Janssens Mar 2, 2022 to Feb 24, 202529
- VP and CAOJohnathan Stevan Zoeller Mar 31, 2020 to Mar 22, 202430
- EVP, Vinyls ChemicalsRoger L. Kearns May 1, 2018 to May 1, 202031
- Vice President, PolyethyleneLawrence Schubert Mar 8, 2017 to Mar 8, 201732
- VP,GC,ChiefAdminOff & CorpSecL. Benjamin Ederington Feb 22, 2016 to now33
- VP, Building ProductsSimon Bates Aug 31, 2016 to Sep 12, 201634
- Sr. VP, PolyethyleneMichael J. Mattina Apr 13, 2015 to Feb 16, 201735
- Vice President, OlefinsLawrence E. Teel Jun 8, 2012 to Feb 19, 202036
- Vice President & TreasurerAndrew Johannesen Jan 3, 2011 to Jan 6, 201137
- Sr. Vice President, VinylsRobert F. Buesinger Apr 7, 2010 to now38
- VP -- ManufacturingAndrew Kenner Jul 11, 2008 to Feb 22, 202239
- Senior Vice PresidentWayne D. Morse Jan 10, 2006 to Mar 15, 201040
- Sr VP AdministrationDavid R. Hansen Mar 22, 2006 to Feb 24, 201541
- Vice President & ControllerGeorge J. Mangieri Mar 22, 2006 to Feb 19, 202042
- Vice PresidentJeffrey L. Taylor Mar 22, 2006 to May 27, 201543
- Vice President & TreasurerMark Steven Bender Mar 22, 2006 to Jan 10, 200844
- Vice PresidentWarren W. Wilder Mar 22, 2006 to Mar 18, 200845
- Sr VP Corp Planning & Bus DevDonald Marion Condon Jr. Jul 7, 2006 to Mar 15, 201346
- Board memberBhavesh Patel V. Feb 23, 2026 to now47
- Board memberRoger A. Cregg Dec 10, 2024 to now48
- Board memberCarolyn Chao Sabat May 11, 2023 to now49
- Board memberCatherine T. Chao May 11, 2023 to now50
- Board memberKimberly S. Bowers May 18, 2020 to now51
- Board memberMark Steven Bender Nov 10, 2020 to Nov 15, 202152
- Board memberDavid Tsung-Hung Chao Jan 9, 2018 to now53
- Board memberJeffrey Wayne Sheets Jan 9, 2018 to now54
- Board memberMarius Haas Jan 9, 2018 to Aug 12, 202455
- Board memberMark A. McCollum May 21, 2018 to now56
- Board memberR. Bruce Northcutt May 30, 2013 to now57
- Board memberDorothy C. Jenkins May 4, 2006 to Aug 15, 202258
- Board memberE. William Barnett Jun 30, 2006 to Dec 3, 201259
- Board memberGilbert R. Whitaker Jr. Aug 23, 2006 to Aug 23, 200660
- Board memberMax L. Lukens Aug 23, 2006 to Aug 19, 201961
- Board memberRobert T. Blakely Aug 23, 2006 to Aug 22, 201862
- General counselMax L. Lukens Aug 5, 2013 to Aug 5, 201363
- General counselL. Benjamin Ederington Oct 7, 2013 to Feb 22, 201764
Products and brands
In 2014, Westlake made a significant expansion in their ethylene production facilities in Sulphur, Louisiana. In the same year, Westlake acquired the German polyvinyl chloride manufacturer Vinnolit.
In 2016, Westlake acquired U.S. chlor-alkali producer Axiall Corporation for US$3.8 billion.
In June 2021, Westlake purchased the United States building products business of Boral for $2.2 billion.
In 2022, Westlake took over Hexion's epoxy division.
From Wikipedia’s article on Westlake Corporation, shared under CC BY-SA 4.0.8
Subsidiaries and ownership
Subsidiaries
- Westlake Vinnolit since 2014
Subsidiaries (Exhibit 21)
- Eagle Spinco Inc. Delaware9
- Rome Delaware Corp. Delaware9
- Taiwan Chlorine Industries, Ltd. Kaohsiung, Taiwan9
- WPT LLC Delaware9
- Westlake Canada Inc. Toronto, Canada9
- Westlake Chemical Canada Inc. Montreal, Canada9
- Westlake Chemical OpCo LP Delaware9
- Westlake Chemical Partners GP LLC Delaware9
- Westlake Chemical Partners LP Delaware9
- Westlake Chemicals & Vinyls LLC Delaware9
- Westlake Compounds LLC Delaware9
- Westlake DaVinci Roofscapes L.L.C. Delaware9
- Westlake Dimex LLC Delaware9
- Westlake Epoxy B.V. Rotterdam, The Netherlands9
- Westlake Epoxy GmbH Duisburg, Germany9
- Westlake Epoxy Inc. Delaware9
- Westlake Germany GmbH & Co. KG Ismaning, Germany9
- Westlake International I B.V. Rotterdam, The Netherlands9
- Westlake Longview Corporation Delaware9
- Westlake Management (Shanghai) Co. Ltd Shanghai, China9
- Westlake Management Services, Inc. Delaware9
- Westlake Natrium LLC Delaware9
- Westlake Petrochemicals LLC Delaware9
- Westlake Pipe & Fittings Corporation Delaware9
All 40 listed subsidiaries
- Westlake Polymers LLC Delaware9
- Westlake Royal Building Products (USA) Inc. Delaware9
- Westlake Royal Building Products Inc. Delaware9
- Westlake Royal Roofing LLC Delaware9
- Westlake Royal Stone LLC Delaware9
- Westlake Royal Windows LLC Delaware9
- Westlake Styrene LLC Delaware9
- Westlake Switzerland GmbH Baas, Switzerland9
- Westlake US 2 LLC Delaware9
- Westlake Vinnolit GmbH & Co. KG Ismaning, Germany9
- Westlake Vinnolit Holdings GmbH Ismaning, Germany9
- Westlake Vinnolit Italia S.r.L. Milan, Italy9
- Westlake Vinnolit Limited Runcorn, United Kingdom9
- Westlake Vinnolit Treuhand GmbH Ismaning, Germany9
- Westlake Vinyls Company LP Delaware9
- Westlake Vinyls, Inc. Delaware9
From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Acquisitions
- 2014Westlake Vinnolit became a subsidiary1
Former names
- WESTLAKE CHEMICAL CORPSep 22, 2003 to Feb 1, 20227
Controversies and legal
Safety Incidents
In September 2021, an explosion at a Westlake ethylene plant in Sulphur, Louisiana injured six workers. In January 2022, an ethylene dichloride tank exploded at a Westlake facility in Westlake, Louisiana injuring 6 workers and triggering a shelter-in-place order.
Westlake facilities in Louisiana have had uncontrolled chemical releases including benzene, chloroform, ethylene dichloride, hydrogen chloride and vinyl chloride.
Westlake's operations in Calvert City, Kentucky, have faced scrutiny from regulators. In 2024, the U.S. Environmental Protection Agency (EPA) announced findings from a long-term air monitoring study in the surrounding community, and determined emissions of ethylene dichloride were driving elevated cancer risk. Westlake's Calvert City operations are the main source of ethylene dichloride emissions in the area, according to the EPA.
From Wikipedia’s article on Westlake Corporation, shared under CC BY-SA 4.0.8
Timeline
- Sep 29, 20268-K Exit or restructuring costs; Regulation FD disclosure65
- Aug 31, 20268-K Executive or director change66
- Aug 4, 20268-K Results of operations; Regulation FD disclosure67
- Jul 29, 20268-K Other events68
- Jun 15, 20268-K Regulation FD disclosure69
- May 18, 20268-K Shareholder vote70
- May 5, 20268-K Results of operations; Regulation FD disclosure71
- May 1, 20268-K Regulation FD disclosure72
- Apr 20, 20268-K Executive or director change; Regulation FD disclosure73
- Apr 14, 20268-K Other events74
- Apr 6, 20268-K Entered a material agreement; Ended a material agreement; New debt or obligation75
- Apr 2, 20268-K Executive or director change76
- Jul 15, 2024New chief executive Jean-Marc Gilson becomes CEO19
- Feb 17, 2021New chief executive Lawrence E. Teel becomes CEO20
- 1986Founded Founded1
Calendar
Coming up
- Oct 29, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.29) a share, on Oct 30, 2025.77
When it reported results
- Aug 4, 2026Reported quarterly or annual results67
- May 5, 2026Reported quarterly or annual results71
- Feb 24, 2026Reported quarterly or annual results78
- Oct 30, 2025Reported quarterly or annual results79
- Aug 5, 2025Reported quarterly or annual results80
- May 2, 2025Reported quarterly or annual results81
- Feb 24, 2025Reported quarterly or annual results82
- Nov 5, 2024Reported quarterly or annual results83
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
427 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 62 major events, 281 insider forms, 3 large holders, 61 other. The latest 20:
- Sep 29, 20268-K EDGAR
- Sep 1, 20264 EDGAR
- Aug 31, 20263 EDGAR
- Aug 31, 20268-K EDGAR
- Aug 21, 20268-A12B EDGAR
- Aug 21, 2026CERT NYSE TEXAS CERTIFICATION EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 11, 2026144 EDGAR
- Aug 11, 20264 EDGAR
- Aug 10, 20264 EDGAR
- Aug 10, 20264 EDGAR
The 427 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
38 open-market trades by officers, directors and large owners since October 2021: 1 buys and 37 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 11, 2026 | Chao AlbertExecutive Chairman | Sale | 38,873 | $80.28 | $3.1M | Form 4 |
| Mar 27, 2026 | Buesinger Robert F.EVP, PEM Segment Head | Sale | 4,000 | $115.25 | $461.0K | Form 4 |
| Mar 27, 2026 | Bender Mark StevenEVP & CFO | Sale | 16,413 | $112.54 | $1.8M | Form 4 |
| Feb 27, 2026 | Bender Mark StevenEVP & CFO | Sale | 17,409 | $100.92 | $1.8M | Form 4 |
| Dec 22, 2025 | Chao AlbertExecutive Chairman | Sale | 40,836 | $73.58 | $3.0M | Form 4 |
| May 27, 2025 | Buesinger Robert F.EVP, PEM Segment Head | Sale | 83 | $72.70 | $6.0K | Form 4 |
| Apr 22, 2025 | Buesinger Robert F.EVP, PEM Segment Head | Buy | 83 | $93.39 | $7.8K | Form 4 |
| Nov 29, 2024 | Chao David Tsung-HungDirector | Sale | 1,750 | $129.08 | $225.9K | Form 4 |
| Nov 22, 2024 | Chao David Tsung-HungDirector | Sale | 1,750 | $130.00 | $227.5K | Form 4 |
| May 9, 2024 | Buesinger Robert F.EVP, PEM Segment Head | Sale | 3,500 | $158.50 | $554.8K | Form 4 |
| May 3, 2024 | Bender Mark StevenEVP & CFO | Sale | 4,950 | $152.19 | $753.3K | Form 4 |
| Mar 15, 2024 | Buesinger Robert F.EVP, PEM Segment Head | Sale | 3,878 | $144.50 | $560.4K | Form 4 |
| Mar 13, 2024 | Buesinger Robert F.EVP, PEM Segment Head | Sale | 122 | $144.50 | $17.6K | Form 4 |
| Mar 6, 2024 | Bender Mark StevenEVP & CFO | Sale | 4,804 | $141.02 | $677.5K | Form 4 |
| Feb 26, 2024 | Bender Mark StevenEVP & CFO | Sale | 4,854 | $137.57 | $667.8K | Form 4 |
| Nov 15, 2023 | Buesinger Robert F.EVP, PEM Segment Head | Sale | 4,215 | $130.50 | $550.1K | Form 4 |
| Aug 23, 2023 | Chao David Tsung-HungDirector | Sale | 1,000 | $131.00 | $131.0K | Form 4 |
| Aug 31, 2022 | Buesinger Robert F.EVP, PEM Segment Head | Sale | 1,000 | $98.94 | $98.9K | Form 4 |
| Aug 26, 2022 | Zoeller Johnathan StevanVP and CAO | Sale | 542 | $107.08 | $58.0K | Form 4 |
| May 27, 2022 | Buesinger Robert F.EVP, PEM Segment Head | Sale | 14,427 | $129.47 | $1.9M | Form 4 |
All 38 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Albert Chao | $1.1M | $6.7M85 | |
| 2025 | Jean-Marc Gilson | $1.3M | $6.4M85 | |
| 2025 | James Chao | $642.8K | $5.6M85 | |
| 2025 | Robert F. Buesinger | $675.0K | $4.5M85 | |
| 2025 | M. Steven Bender | $778.1K | $3.9M85 | |
| 2024 | Executive Chairman | $1.2M | $10.9M85 | |
| 2024 | Senior Chairman | $1.0M | $7.4M85 | |
| 2024 | PresidentChief Executive Officer and Director | $528.8K | $4.3M85 | |
| 2024 | Executive VicePresident | $749.2K | $4.1M85 | |
| 2024 | Executive Vice PresidentPerformance and | $650.4K | $3.3M85 | |
| 2023 | Executive Chairman | $1.3M | $12.0M85 | |
| 2023 | Senior Chairman | $981.4K | $7.6M85 | |
| 2023 | and Chief Financial Officer | $723.1K | $5.7M85 | |
| 2023 | Essential Materials SegmentHead | $629.2K | $4.8M85 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 3,294,162 | $240.5M | 0.0% | +215,075 |
| Capital World Investors | 2,842,348 | $207.5M | 0.0% | −1,368,658 |
| Orbis Allan Gray Ltd | 2,084,364 | $152.2M | 0.5% | −3,209,155 |
| Dimensional Fund Advisors LP | 2,051,554 | $149.8M | 0.0% | +585,534 |
| Vanguard Portfolio Management LLC | 1,752,627 | $127.9M | 0.0% | −17,181 |
| Brandes Investment Partners, LP | 1,572,939 | $114.8M | 0.8% | −269,711 |
| Aqr Capital Management LLC | 1,570,453 | $114.6M | 0.0% | +1,310,383 |
| Vanguard Capital Management LLC | 1,464,223 | $106.9M | 0.0% | +8,629 |
| State Street Corp | 1,453,407 | $106.1M | 0.0% | +72,914 |
| Goldman Sachs Group Inc | 1,280,873 | $93.5M | 0.0% | −112,454 |
| Citadel Advisors LLC | 1,054,868 | $77.0M | 0.0% | +339,282 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 1,023,403 | $74.7M | 0.1% | +79,428 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 817,207 | $59.7M | 0.0% | −164,198 |
| Geode Capital Management, LLC | 718,597 | $52.5M | 0.0% | +104,263 |
| Jacobs Levy Equity Management, Inc | 709,355 | $51.8M | 0.2% | +360,320 |
| Balyasny Asset Management L.P. | 625,859 | $45.7M | 0.1% | +256,187 |
| Woodline Partners LP | 451,986 | $33.0M | 0.1% | +114,911 |
| Nuveen, LLC | 446,479 | $32.6M | 0.0% | −118,265 |
| Morgan Stanley | 437,571 | $31.9M | 0.0% | −48,937 |
| UBS Group AG | 431,633 | $31.5M | 0.0% | −379,633 |
| Schroder Investment Management Group | 375,889 | $28.1M | 0.0% | +1,381 |
| Millennium Management LLC | 366,074 | $26.7M | 0.0% | +281,077 |
| Fmr LLC | 361,243 | $26.4M | 0.0% | −951,230 |
| ExodusPoint Capital Management, LP | 327,195 | $23.9M | 0.2% | New |
| Qube Research & Technologies Ltd | 321,718 | $23.5M | 0.0% | New |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
3 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Jun 10, 2021 | Susie LeeDemocratic, House | Sale | $1,001 - $15,000 | +118.8% | Report |
| Dec 16, 2020 | Susie LeeDemocratic, House | Buy | $1,001 - $15,000 | −130.1% | Report |
| Dec 10, 2020 | Susie LeeDemocratic, House | Buy | $1,001 - $15,000 | −134.8% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How Westlake Corporation is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARWESTLAKE CORP2
- CIK0001262823
- Employer ID (EIN)76-034692418
- LEIGOXNEVUM0LL78B1OS3442
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company18
- Incorporated inDelaware18
- Fiscal year endsDecember 312
- Industry code (SIC)2860 Industrial Organic Chemicals2
- SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance2
- Business address5444 Westheimer, Suite 101, Houston, TX2
- Phone713-960-91112
- Shares outstanding127,796,548 as of Jul 29, 202616
- Public float$2.5B as of Jun 30, 202518
- AuditorPricewaterhouseCoopers LLP, Houston, Texas PCAOB ID 238; it also attests to the company’s internal control over financial reporting18
- On EDGAR sinceSep 22, 20032
- Filings1,722 in all: 4 (1,020), 8-K (236), 10-Q (68), 3 (52), 4/A (37), SC 13G/A (36), 144 (28), 10-K (23)2
All 42 form types
DEF 14A (22), 425 (20), 424B5 (17), UPLOAD (16), ARS (15), CORRESP (14), SC 13G (14), DEFA14A (13), SD (13), DFAN14A (10), 3/A (7), FWP (7), S-3ASR (6), SC TO-C (6), 8-K/A (4), PRE 14A (4), S-1/A (4), 8-A12B (3), EFFECT (3), CERT (2), DFRN14A (2), POS AM (2), POSASR (2), PX14A6G (2), S-3 (2), S-3/A (2), S-4 (2), S-8 (2), 424B4 (1), DEFC14A (1), PREC14A (1), PRRN14A (1), S-1 (1), S-4/A (1)
- Latest filingsAnnual report (10-K) Feb 26, 2026
Quarterly report (10-Q) Aug 5, 2026
Proxy statement (DEF 14A) Apr 2, 2026
Latest 8-K (8-K) Sep 29, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.01 par value | WLK | The New York Stock Exchange |
| 1.625% Senior Notes due 2029 | WLK29 | The New York Stock Exchange |
From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).18
Risk factors and legal proceedings
The risks Westlake Corporation names in Item 1A of its 10-K filed Feb 26, 2026: 33 risks under these headings, as written.18
- Risks Related to Our Business, Industry and Operations
- Legal, Governmental and Regulatory Risks
- Risks Related to Our Indebtedness
- Risks Related to Taxes
- Risks Related to the Ownership of Our Securities
- Risk Related to Business, Industry and Operations
- Cyclicality in the petrochemical industry has in the past, and may in the future, result in reduced operating margins or operating losses.
- Our Performance and Essential Materials business could suffer if commodity product exports by other countries significantly increase or are sold in global markets in violation of international fair trade laws.
- We sell most of our commodity products in highly competitive markets and face significant competition and price pressure.
- We operate internationally and are subject to related risks, including exchange rate fluctuations, exchange controls, trade barriers, tariffs and duties, political risk and other risks relating to international operations.
- Our operations depend on the availability of raw materials, energy and utilities, and volatility in costs of raw materials, energy and utilities may result in increased operating expenses and adversely affect our results of operations and cash flows.
- Our operations and assets are subject to climate-related risks such as hurricanes or other weather events that may adversely affect our results of operations and cash flows.
The other 27 risks
- External factors beyond our control can cause fluctuations in demand for our products and in our prices and margins, which may negatively affect our results of operations and cash flows.
- The North American housing market may remain depressed or decline further, and any such continuation or decline in the homebuilding industry may adversely affect our operating results.
- Our inability to compete successfully may reduce our operating profits.
- Our production facilities process some volatile and hazardous materials that subject us to operating risks that could adversely affect our operating results.
- We rely on a limited number of outside suppliers for specified feedstocks and services.
- We rely heavily on third party transportation, which subjects us to risks and costs that we cannot control. Such risks and costs may materially adversely affect our operations.
- We may pursue acquisitions, dispositions, joint ventures or other transactions that may impact our results of operations and financial condition. We may have difficulties integrating the operations of acquired businesses, such as ACI, and future acquired businesses.
- Capital projects are subject to risks, including delays and cost overruns, which could have an adverse impact on our financial condition and results of operations.
- Public and investor sentiment towards climate change and other sustainability matters could adversely affect our cost of capital and the price of our common stock.
- Our participation in joint ventures and similar arrangements exposes us to a number of risks, including risks of shared control.
- Our operations could be adversely affected by labor relations.
- We have certain material pension and other post-retirement employment benefit ("OPEB") obligations. Future funding obligations related to these obligations could restrict cash available for our operations, capital expenditures or other requirements or require us to borrow additional funds.
- If we are unable to execute our cost reduction plans successfully, our total operating costs may be greater than expected, which may adversely affect our profitability.
- If our goodwill or other long-lived assets become impaired in the future, we may be required to record non-cash charges to earnings, which could be significant.
- Failure to adequately protect critical data and technology systems could materially affect our operations.
- Fluctuations in foreign currency exchange rates could affect our consolidated financial results.
- Our property insurance has only partial coverage for acts of terrorism and, in the event of terrorist attack, we could lose net sales and our facilities.
- The impact and effects of public health crises, pandemics and epidemics could adversely affect our business, financial condition and results of operations.
- Our operations and assets are subject to extensive environmental, health and safety laws and regulations.
- We are subject to laws and regulations regarding greenhouse gas emissions and climate-related matters.
- We are subject to legal and regulatory claims, investigations and proceedings, some of which could be material.
- We are subject to operational and financial risks and liabilities associated with the implementation of and efforts to achieve our carbon emission reduction goals.
- Our level of debt could adversely affect our ability to operate our business.
- To service our indebtedness and fund our capital requirements, we will require a significant amount of cash. Our ability to generate cash depends on many factors beyond our control.
- The Credit Agreement and the indenture governing certain of our senior notes impose operating and financial restrictions, which may prevent us from capitalizing on business opportunities and taking certain actions.
- A change in our effective income tax rate, including as a result of changes in tax laws, treaties or regulations, or their interpretation or application, could have a negative impact on our business and results of operations.
- We will be controlled by our principal stockholder and its affiliates as long as they own a majority of our common stock, and our other stockholders will be unable to affect the outcome of stockholder voting during that time. Our interests may conflict with those of the principal stockholder and its affiliates, and we may not be able to resolve these conflicts on terms possible in arms-length transactions.
Legal proceedings
In addition to the matters described under "Item 1. Business—Environmental" and Note 21 "Commitments and Contingencies" to Consolidated Financial Statements included in Item 8 of this Form 10-K, we are involved in various legal proceedings incidental to the conduct of our business. We do not believe that any of these legal proceedings will have a material adverse effect on our financial condition, results of operations or cash flows.
The opening of Item 3, Legal Proceedings.18
Links
- Websitewww.westlake.com1
- WikipediaWestlake Corporation
- More imagesWikimedia Commons
- WikidataQ17326957
- SEC EDGARCIK 1262823
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataWestlake Corporation on Wikidata
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- 3WikipediaWestlake Corporation on Wikipedia
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- 5Yahoo FinanceWLK quote
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- 26SEC EDGARTommy Darby, VP and CAO
- 27SEC EDGARScott Thomas Szwejbka, SVP, HIP
- 28SEC EDGARJeffrey Adam Holy, VP and CAO
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- 30SEC EDGARJohnathan Stevan Zoeller, VP and CAO
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- 34SEC EDGARSimon Bates, VP, Building Products
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- 39SEC EDGARAndrew Kenner, VP -- Manufacturing
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- 43SEC EDGARJeffrey L. Taylor, Vice President
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- 45SEC EDGARWarren W. Wilder, Vice President
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- 47SEC EDGARBhavesh Patel V., Board member
- 48SEC EDGARRoger A. Cregg, Board member
- 49SEC EDGARCarolyn Chao Sabat, Board member
- 50SEC EDGARCatherine T. Chao, Board member
- 51SEC EDGARKimberly S. Bowers, Board member
- 52SEC EDGARMark Steven Bender, Board member
- 53SEC EDGARDavid Tsung-Hung Chao, Board member
- 54SEC EDGARJeffrey Wayne Sheets, Board member
- 55SEC EDGARMarius Haas, Board member
- 56SEC EDGARMark A. McCollum, Board member
- 57SEC EDGARR. Bruce Northcutt, Board member
- 58SEC EDGARDorothy C. Jenkins, Board member
- 59SEC EDGARE. William Barnett, Board member
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- 61SEC EDGARMax L. Lukens, Board member
- 62SEC EDGARRobert T. Blakely, Board member
- 63SEC EDGARMax L. Lukens, General counsel
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- 66SEC EDGARExecutive or director change
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- 68SEC EDGAROther events
- 69SEC EDGARRegulation FD disclosure
- 70SEC EDGARShareholder vote
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- 72SEC EDGARRegulation FD disclosure
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- 74SEC EDGAROther events
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- 76SEC EDGARExecutive or director change
- 77NasdaqNasdaq calendar
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