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Hess Midstream HESM Operating margin

Operating margin at other companies

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EnbridgeENB
15.2%-2.2pp
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OneokOKE
16.9%-3.7pp
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10%-1.4pp
Kinetik Holdings logo
Kinetik HoldingsKNTK
8.2%-2.7pp
TRG
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22.9%+5.3pp
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National Fuel GasNFG
40.3%

Other financials

Income statement

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Revenue$399.0M-3.7%
Operating income$253.2M-2.7%
Net income$96.4M+6.8%

Balance sheet

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Cash & equivalents$5.0M+11.1%
Total debt$3.7B-0.9%
Total assets$4.3B-3.8%

Cash flow

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Operating cash flow$278.6M+0.6%
CapEx$23.1M-63.6%
Free cash flow$255.5M+19.7%

Valuation

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Market cap$5.13B-6.4%
Enterprise value$8.8B-4.2%
P/E13.7×-5.2×
P/S3.2×-0.3×

Profitability

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Net margin23.2%+4.7pp
FCF margin51.9%+9.5pp

Returns & leverage

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Current ratio0.8×+0.1×

Where this comes from

Calculated from Hess Midstream’s reported figures.

Based on trailing twelve months.

The source filing: Hess Midstream’s 10-Q, filed August 6, 2026. Open the filing →

Filed
Aug 6, 2026, 4:15 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-338055

FAQ

What is Hess Midstream's operating margin?
Hess Midstream (HESM) reported operating margin of 62.1% in Q2 2026.
How has Hess Midstream's operating margin changed year-over-year?
Hess Midstream's operating margin increased by 0.3% year-over-year, from 61.9% to 62.1%.
What is the long-term trend for Hess Midstream's operating margin?
Over 5 years (2020 to 2025), Hess Midstream's operating margin has grown at a 3.3% compound annual growth rate (CAGR), from 52.8% to 62.2%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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