What is Hess Midstream's market cap?

Hess Midstream (HESM) has a market capitalization of $5.0B and trades on NYSE.

What is Hess Midstream's revenue and profitability?

Hess Midstream generated $1.6B in trailing twelve-month revenue with net income of $368.9M, representing a net margin of 22.6%, with free cash flow of $795.8M. These figures are based on the Q1 2026 filing.

Who are Hess Midstream's competitors?

Hess Midstream's key competitors include Energy Transfer, ONEOK, Targa Resources Corp., and others. These companies compete in similar markets and product categories.

Who does Hess Midstream partner with?

Hess Midstream's notable partners include Chevron, Targa Resources.

Where is Hess Midstream headquartered?

Hess Midstream is headquartered in United States of America and employs approximately 211 people. It has been publicly traded since 2017.

Hess Midstream

HESM

Hess Midstream LP is a fee-based midstream energy company that owns, operates, develops, and acquires a diverse set of midstream assets.

Market cap

$4.98B-0.8%

Revenue$1.6B+7.1%

Net income$368.9M+47.5%

Free cash flow$795.8M+20.5%

Trailing twelve months · change vs. prior year

Table of contents

Earnings

Q1 2026 report

May 4, 2026

Revenue$390.1MBeat by $591.4K EPS$0.68Beat by $0.03

Read the full report

Next report

Jul 29, 2026 (In 2 weeks)

Revenue estimate$395.8M

EPS estimate$0.69

Financials

Q1 2026

Income statement

See full

Revenue$390.1M+2.1%

Operating income$238.1M+0.3%

Net income$87.6M+22.3%

Balance sheet

See full

Cash & equivalents$4.6M-24.6%

Total debt$3.8B+5.6%

Total assets$4.3B+1.3%

Cash flow

See full

Operating cash flow$253.3M+25.1%

CapEx$28.8M-36.7%

Free cash flow$224.5M+43.1%

Valuation & ratios

Valuation

See full

Market cap$4.98B-0.8%

Enterprise value$8.74B+0.9%

P/E13.5×-3.6×

P/S3.1×-0.1×

Profitability

See full

Operating margin61.9%+0.5pp

Net margin22.6%+6.2pp

FCF margin48.8%+5.4pp

Returns & leverage

See full

Current ratio0.9×+0.1×

Segments

By product

See full

Oil And Gas Service$166.3M-3.0%

Processing And Storage Services$139.1M-3.1%

Terminaling And Export Services$36.1M+22.4%

Water Gathering And Disposal Services$31.6M+6.4%

By segment

See full

Gathering$204.1M+0.2%

Processing And Storage$148.4M+0.4%

Terminaling And Export$37.6M+22.9%

Competitors

By market cap

Enbridge$119.21B+23.9%

Enterprise Products Partners$80.7B+18.8%

Energy Transfer$68.1B+11.8%

TRG

Targa Resources$58.6B+56.6%

MPLX$58.0B+12.0%

Oneok$56.4B+12.6%

HES

Hess Midstream$5.0B+0.4%

Kinetik Holdings$3.6B+36.4%

By revenue growth

Oneok+41.0%

Enbridge+13.3%

Energy Transfer+12.5%

Kinetik Holdings+9.2%

HES

Hess Midstream+7.1%

MPLX+5.7%

TRG

Targa Resources+1.1%

Enterprise Products Partners-9.3%

By net margin

MPLX36.69%0.0pp

HES

Hess Midstream22.64%+6.2pp

TRG

Targa Resources12.87%+4.9pp

Enterprise Products Partners11.44%+1.2pp

Oneok10.03%-2.1pp

Enbridge10.0%-0.3pp

Kinetik Holdings9.85%+5.1pp

Energy Transfer4.73%-1.2pp

Profile

Hess Midstream LP is a fee-based midstream energy company that owns, operates, develops, and acquires a diverse set of midstream assets. The company provides essential services for crude oil, natural gas, and natural gas liquids (NGLs) including gathering, processing, storage, and terminaling. Its core value proposition is centered on providing critical infrastructure to support production in the Bakken and Three Forks shale plays.

Competitive position

A leading midstream provider in the Williston Basin with a strategic relationship with Chevron following its acquisition of Hess Corporation.

GeographiesUnited States, North Dakota, Bakken Shale

Customer segmentsExploration and Production (E&P) companies, Integrated energy companies

Business modelFee-based service, Master Limited Partnership (MLP) structure

SuppliersUpstream drilling and production activity, Steel and pipeline equipment manufacturers, Specialized engineering and construction firms

CustomersOil refineries, Natural gas utilities, Petrochemical manufacturers, Export terminal operators

CountryUnited States of America

Listed2017

Employees211.0

CEOJonathan C. Stein

SectorEnergy

IndustryOil & Gas Midstream

Websitehessmidstream.com

FilingsSEC EDGAR

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Questions, answered.

What is Hess Midstream's market cap?: Hess Midstream (HESM) has a market capitalization of $5.0B and trades on NYSE.
What is Hess Midstream's revenue and profitability?: Hess Midstream generated $1.6B in trailing twelve-month revenue with net income of $368.9M, representing a net margin of 22.6%, with free cash flow of $795.8M. These figures are based on the Q1 2026 filing.
Who are Hess Midstream's competitors?: Hess Midstream's key competitors include Energy Transfer, ONEOK, Targa Resources Corp., and others. These companies compete in similar markets and product categories.
Who does Hess Midstream partner with?: Hess Midstream's notable partners include Chevron, Targa Resources.
Where is Hess Midstream headquartered?: Hess Midstream is headquartered in United States of America and employs approximately 211 people. It has been publicly traded since 2017.