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Hess Midstream HESM Free cash flow margin

Free cash flow margin at other companies

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EnbridgeENB
2.7%-5.9pp
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OneokOKE
6.4%-5.9pp
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Energy TransferET
4.2%-3.2pp
TRG
Targa ResourcesTRGP
4.8%-3.1pp
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Enterprise Products PartnersEPD
4.7%-1.9pp
Antero Midstream Corporation logo
Antero Midstream CorporationAM
70%-4.8pp

Other financials

Income statement

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Revenue$390.1M+2.1%
Operating income$238.1M+0.3%
Net income$87.6M+22.3%

Balance sheet

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Cash & equivalents$4.6M-24.6%
Total debt$3.8B+5.6%
Total assets$4.3B+1.3%

Cash flow

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Operating cash flow$253.3M+25.1%
CapEx$28.8M-36.7%
Free cash flow$224.5M+43.1%

Valuation

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Market cap$4.72B+1.9%
Enterprise value$8.49B+3.5%
P/E12.8×-5.7×
P/S2.9×-0.1×

Profitability

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Operating margin61.9%+0.5pp
Net margin22.6%+6.2pp

Returns & leverage

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Current ratio0.9×+0.1×

Where this comes from

Calculated from Hess Midstream’s reported figures.

Based on trailing twelve months.

The official record: Hess Midstream’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Hess Midstream's free cash flow margin?
Hess Midstream (HESM) reported free cash flow margin of 48.8% in Q1 2026.
How has Hess Midstream's free cash flow margin changed year-over-year?
Hess Midstream's free cash flow margin increased by 12.5% year-over-year, from 43.4% to 48.8%.
What is the long-term trend for Hess Midstream's free cash flow margin?
Over 5 years (2020 to 2025), Hess Midstream's free cash flow margin has grown at a 7.6% compound annual growth rate (CAGR), from 31.2% to 44.9%.
What does free cash flow margin mean?
Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.