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Hess Midstream HESM Net margin

Net margin at other companies

EnbridgeENB

10%-0.3pp

OneokOKE

10%-2.1pp

Energy TransferET

4.7%-1.2pp

TRG

Targa ResourcesTRGP

12.9%+4.9pp

Enterprise Products PartnersEPD

11.4%+1.2pp

National Fuel GasNFG

27.4%—

Other financials

Income statement

Revenue$390.1M+2.1%

Operating income$238.1M+0.3%

Net income$87.6M+22.3%

Balance sheet

Cash & equivalents$4.6M-24.6%

Total debt$3.8B+5.6%

Total assets$4.3B+1.3%

Cash flow

Operating cash flow$253.3M+25.1%

CapEx$28.8M-36.7%

Free cash flow$224.5M+43.1%

Valuation

Market cap$4.72B+1.9%

Enterprise value$8.49B+3.5%

P/E12.8×-5.7×

P/S2.9×-0.1×

Profitability

Operating margin61.9%+0.5pp

FCF margin48.8%+5.4pp

Returns & leverage

Current ratio0.9×+0.1×

Where this comes from

Calculated from Hess Midstream’s reported figures.

net income/total revenue=22.6%

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 net margin?: Hess Midstream (HESM) reported net margin of 22.6% in Q1 2026.
How has Hess Midstream's net margin changed year-over-year?: Hess Midstream's net margin increased by 37.8% year-over-year, from 16.4% to 22.6%.
What is the long-term trend for Hess Midstream's net margin?: Over 5 years (2020 to 2025), Hess Midstream's net margin has grown at a 58.2% compound annual growth rate (CAGR), from 2.2% to 21.8%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.