Income Statement Research
Review the full annual statement in one scroll, from headline results to detailed SEC line items, margin conversion, and growth diagnostics.
Snapshot
Westlake Corporation's top line, gross profit, operating income, and bottom-line conversion. Values in USD millions.
Revenue
-1.3%Compound growth, FY2021 to FY2025
Gross profit
-30.6%Compound growth, FY2021 to FY2025
Operating Income
N/ACompound growth, FY2021 to FY2025
Net income
N/ACompound growth, FY2021 to FY2025
Headline results
Four lines, five fiscal years, straight from the filings.
Westlake Corporation headline income statement — FY2025
Trend
The same four lines drawn across the window.
All values shown in USD millions unless noted otherwise.
Line items
The full annual income statement layer for Westlake Corporation, from revenue down to share counts.
Statement basis
USD millions, except per-share and share-count rows.
Westlake Corporation expanded income statement — FY2025
Expanded annual statement lines sourced from the SEC EDGAR database for Westlake Corporation.
Margins
How much of Westlake Corporation's revenue survives through gross profit, operating income, and net income.
Gross margin
-2240 bpsFY2025, versus FY2021
Operating Margin
-3790 bpsFY2025, versus FY2021
Net income margin
-3061 bpsFY2025, versus FY2021
Observation window
yearsFY2021 through FY2025
Margin table
Side-by-side read of gross, operating and net margin.
Westlake Corporation margins — FY2025
Margin trend
The shape of profitability across the window.
Margins are calculated from annual SEC facts using reported revenue as the denominator.
Year on year
Every headline line of Westlake Corporation's statement measured against the immediately prior period.
Revenue YoY
FY2024FY2025 versus FY2024
Gross profit YoY
FY2024FY2025 versus FY2024
Op. income YoY
FY2024FY2025 versus FY2024
Net income YoY
FY2024FY2025 versus FY2024
Year-on-year table
Contractions are tinted so slowdowns are obvious.
Westlake Corporation year-on-year change — FY2025
Momentum
Whether the business is accelerating or rolling over.
Year-on-year change compares each annual period against the immediately prior year inside the selected window.
Compound growth
Compounded annual growth from FY2021 to FY2025, which filters out one-year noise.
Revenue CAGR
4yrFY2021 to FY2025
Gross profit CAGR
4yrFY2021 to FY2025
Op. income CAGR
4yrFY2021 to FY2025
Net income CAGR
4yrFY2021 to FY2025
Compound rates use the first and last reported year in the window, so a gap in either endpoint suppresses the figure.
Commentary
A written read of the filing-backed figures above. The statement itself remains the source of truth.
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Over the five-year period, Westlake Corporation’s performance exhibited both robust growth and later volatility. In 2021, the company recorded revenue of USD 11,778 million, a gross profit of USD 3,495 million, operating income of USD 2,800 million, and net income of USD 2,015 million. A significant upturn occurred in 2022, when revenue surged by about 34% to USD 15,794 million and gross profit increased to USD 4,073 million. Operating income edged up slightly to USD 3,050 million, while net income climbed to USD 2,247 million. These improvements suggest that Westlake benefited from favorable market conditions, operational efficiency, or economies of scale in its industry, likely reflecting strong demand and effective cost management. However, the period from 2023 onward shows a marked reversal. Revenue declined to USD 12,548 million in 2023, continuing to drop to USD 11,142 million by 2024 and further down to USD 11,170 million in 2025. Gross profit suffered an even steeper decline, plunging to USD 2,219 million in 2023, then to USD 1,957 million in 2024 and dramatically to USD 813 million in 2025. The operating income followed a similar volatile path; although it recovered modestly to USD 875 million in 2024 from USD 729 million in 2023, it incurred a significant loss of USD 1,578 million in 2025—a drop exceeding 200% year-over-year. Net income mirrored these trends, turning negative in 2025 after being positive in preceding years. Overall, while Westlake showed solid operational performance in the early period, the sharp downturn in later years raises concerns regarding its financial sustainability and the need to address the underlying drivers of declining profitability.
This analysis is for informational purposes only and does not constitute financial advice or a recommendation for any investment decision. Please consult a qualified financial professional for personalised guidance.
