HESM
Hess Midstream LP
Energy • CIK: 0001789832
Loading...
Market Cap
—
P/E (TTM)
—
Rev Growth (TTM)
+8.4%
Net Margin (TTM)
21.8%
FCF Yield (TTM)
—
FCF Margin (TTM)
44.9%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$728M
Q4 '25
$179M-0%
Q3 '25
$179M-16%
FCF Margin
TTM44.9%
Q4 '2544.3%+4%
Sector: 7.7%Top 25%
OCF Margin60.7%
OCF/NI2.79x
CapEx Coverage3.8x
FCF Yield–
FCF Growth (2Y)+5%
Cash Conversion Cycle
32 days
DSO: 32+DIO: –−DPO: –
Capital Allocation & Returns
Total Shareholder Yield
TTM0.0%
Div Yield0.0%
Insufficient data
Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$728.2M
Stock Repurchases ()$400.0M
Capital Return / FCF54.9%
0Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
23.5%
Stable
-0.0% YoY-1.5%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
53.3%
8Q: 54.3%
Asset Turnover
0.37x
8Q: 0.37x
Leverage (1+D/E)
–
Asset & CapEx Efficiency
Fixed Asset Turn
0.48x
8Q:0.47x
+4.9%
Invested Cap Turn
0.49x
8Q:0.48x
+5.3%
CapEx Intensity
7.8%
8Q:8.0%
CapEx/Depreciation
1.19x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $1.6B | $404.2M↓4.0% | $420.9M↑1.6% | $414.2M↑8.4% | $382.0M↓3.5% | $395.9M↑4.6% | $378.5M↑3.6% | $365.5M↑2.8% | $355.6M |
Operating Income | $1.0B | $251.6M↓2.8% | $258.9M↓0.5% | $260.2M↑9.6% | $237.4M↓2.3% | $243.0M↑4.9% | $231.7M↑4.2% | $222.3M↑0.1% | $222.0M |
Net Income | $352.9M | $93.3M↓4.5% | $97.7M↑8.2% | $90.3M↑26.1% | $71.6M↑1.7% | $70.4M↑20.1% | $58.6M↑18.4% | $49.5M↑11.0% | $44.6M |
Operating Cash Flow | $983.8M | $245.6M↓5.1% | $258.9M↓6.5% | $276.9M↑36.8% | $202.4M↓21.7% | $258.5M↑14.9% | $224.9M↓17.2% | $271.6M↑46.6% | $185.3M |
Free Cash Flow | $728.2M | $178.9M↓0.0% | $178.9M↓16.2% | $213.5M↑36.1% | $156.9M↓4.0% | $163.4M↑23.2% | $132.6M↓36.2% | $207.7M↑59.2% | $130.5M |
Total Equity | N/A |
Valuation Analysis
Price-to-EarningsTTM
–
Valuation Lenses
Earnings
–
vs – sector
Cash Flow
5.0x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: 23.5%
Shareholder Returns
Dividend
–
Buyback
–
Total Yield
–
Market Cap$0
EV$3.67B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
99/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)
–
8Q:–
Return on Invested Capital (ROIC)Top 25%
23.5%
8Q:–
Flat
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 53.3%
Asset Turnover: 0.37x
Earnings Quality
Cash Conversion
2.79x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin–
Capital Efficiency
Invested Capital Turnover0.49x
Working Capital
Cash Conversion Cycle32 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
61/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
8.4%
OpInc Growth YoY
3.5%
EPS Growth YoY
N/A
FCF 3Y CAGR
5.3%
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
—
Operating
62.2%
Top 25% in sector
Net
21.8%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+23.1 pts
FCF: 44.9% | Net: 21.8%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Net Debt / EBITDA
–Net Debt: $3.77B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
–x
Balance sheet risk & solvency analysis