Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026
Basics
Sector
Energy
Industry
Oil & Gas Midstream
Country
United States
Market cap
6.7B USD
Enterprise value
10.0B USD
Overall health
Drawback:higher risk than most peers: less short-term liquidity (current ratio 0.77 vs a peer median of 1.37) and more debt relative to equity (9.48× vs a peer median of 0.47×)higher risk: less liquidity (current ratio 0.77 vs peers 1.37) and more debt vs equity (9.48× vs peers 0.47×)
Much more borrowing than peers.Debt is 9.5× equity vs a peer median of 0.5×.Debt is 9.5× equity vs peers 0.5×.
Debt is 9.5× shareholders' equity, against a peer median of 0.5×, among the highest 10% of its peer group.Debt is 9.5× shareholders' equity, vs peers 0.5×, among the highest 10% of its peer group.
Cash flow well above reported profit. Free cash flow is 2.2× reported profit.
Free cash flow is 2.2× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $1.1B in 2020 to $1.6B in 2025.
Hess Midstream LP's fiscal-year revenue rose in each of the five years to 2025, from $1.1B to $1.6B.
Wide margins.Operating margin 62% (12 months to Jun 2026) vs a peer median of 12%.Operating margin 62% vs peers 12%.
Hess Midstream LP keeps 62% of revenue as operating profit, more than 95% of peers (median 12%).
StockQuotient Score
56/ 100▼ 1 since Oct 27 closeOct 5 54 → Nov 4 56 (+2)
Since last quarter: No major changeValuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 60 → 55
Share price +3.3%-3
Peer companies moved-2
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Why it changed since the Oct 27, 2026 close: Score 91 → 92
Peer companies moved+1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Yahoo Finance fallback · no standard SEC debt tagOutlier capped at sector 5th/95th percentile33% base weight · Z-score -7.81Sector median: 0.4659 · MAD: 0.3175
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Hess Midstream LP
Is Hess Midstream LP getting weaker?
Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is 56/100, down 1 since Oct 28, 2026.
How is Hess Midstream LP valued vs its peers?
Priced about in line with its peers. Valuation scores 55/100 against 404 energy peers.Free cash flow yield 12.4% vs a peer median of 6.2% (stronger than 80% of peers).Free cash flow yield 12.4% vs peers 6.2% (stronger than 80% of peers).
Is Hess Midstream LP growing?
Yes, faster than most of its peers. Growth scores 70/100 against 404 energy peers.3-year revenue growth 8.1% vs a peer median of -1.3% (stronger than 77% of peers).3-year revenue growth 8.1% vs peers -1.3% (stronger than 77% of peers).
How profitable is Hess Midstream LP?
More profitable than most of its peers. Profitability scores 92/100 against 404 energy peers.Operating margin 62.1% vs a peer median of 11.7% (stronger than 95% of peers).Operating margin 62.1% vs peers 11.7% (stronger than 95% of peers).
How risky is Hess Midstream LP?
Higher risk relative to 404 energy peers, judged on debt, liquidity and share-price swings.Debt / equity 9.48× vs a peer median of 0.47× (weaker than 100% of peers).Debt / equity 9.48× vs peers 0.47× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026
No major changes
Previous quarter
Latest quarter
Change
Revenue (12 months)
1.6B USD
1.6B USD
−0.9%
Net income (12 months)
368.9M USD
375.0M USD
+1.7%
Operating margin
61.9%
62.1%
+0.1 pts
Free cash flow (12 months)
795.8M USD
837.8M USD
+5.3%
Debt
3.8B USD
3.7B USD
−2.4%
Cash
4.6M USD
5.0M USD
+8.7%
Shares outstanding
128.4M
128.4M
0.0%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Industry: Oil & Gas Midstream · 32 companies
Valuations in Oil & Gas Midstream are near the top of their range since Aug 2019.
86% of months since Aug 2019 were valued lower than now.
54% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +44% and earnings +16% (medians): prices rose faster than earnings.
Median price-to-sales is +39% vs the whole market, against a usual +3%.
Aug 2019Shaded: most expensive fifth of its range2026
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since Aug 2019; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Operating margin
60.4%
62.0%
60.6%
61.5%
62.2%
▲ 0.7 pts
Net margin
3.9%
6.6%
8.8%
14.9%
21.8%
▲ 6.8 pts
Return on assets (ROA)
1.3%
2.3%
3.1%
5.4%
8.0%
▲ 2.7 pts
Free cash flow margin
52.5%
48.8%
47.7%
42.4%
44.9%
▲ 2.5 pts
Current ratio
0.78×
0.83×
0.65×
0.68×
0.85×
▲ 24%
HESM price history
Price history is added with the daily price update and will appear after the next one.