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Hess Midstream HESM Gathering — Depreciation

Other segment segments

Processing And Storage
$16.4M+11.6%
Terminaling And Export
$4.4M0.0%

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$8.68B+7.6%

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
FCF margin48.8%+5.4pp

Returns & leverage

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Current ratio0.9×+0.1×

Where this comes from

Reported directly by Hess Midstream in its filing.

Tagged under the XBRL concept us-gaap:Depreciation.

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 gathering — depreciation?
Hess Midstream (HESM) reported gathering — depreciation of $37.7M in Q1 2026.
How has Hess Midstream's gathering — depreciation changed year-over-year?
Hess Midstream's gathering — depreciation increased by 16.4% year-over-year, from $32.4M to $37.7M.
What is the long-term trend for Hess Midstream's gathering — depreciation?
Over 4 years (2021 to 2025), Hess Midstream's gathering — depreciation has grown at a 7.4% compound annual growth rate (CAGR), from $101M to $134.6M.
What does gathering — depreciation mean?
Reflects the systematic allocation of the cost of tangible gathering assets over their estimated useful lives. This non-cash expense accounts for the wear and tear of pipelines, compression stations, and other gathering facilities.