What is Hess Midstream's net debt?

Hess Midstream (HESM) reported net debt of $3.77B in Q1 2026.

How has Hess Midstream's net debt changed year-over-year?

Hess Midstream's net debt increased by 5.7% year-over-year, from $3.57B to $3.77B.

What is the long-term trend for Hess Midstream's net debt?

Over 5 years (2020 to 2025), Hess Midstream's net debt has grown at a 14.6% compound annual growth rate (CAGR), from $1.91B to $3.77B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Hess Midstream HESM Net debt

Discontinued — last reported Q1 '26

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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%

Profitability

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Operating margin61.9%+0.5pp

Net margin22.6%+6.2pp

FCF margin48.8%+5.4pp

Returns & leverage

See full

Current ratio0.9×+0.1×

Where this comes from

Calculated from Hess Midstream’s reported figures.

$3.8Btotal debt−$4.6Mcash and equivalents=$3.77B

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 net debt?: Hess Midstream (HESM) reported net debt of $3.77B in Q1 2026.
How has Hess Midstream's net debt changed year-over-year?: Hess Midstream's net debt increased by 5.7% year-over-year, from $3.57B to $3.77B.
What is the long-term trend for Hess Midstream's net debt?: Over 5 years (2020 to 2025), Hess Midstream's net debt has grown at a 14.6% compound annual growth rate (CAGR), from $1.91B to $3.77B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.