9 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $1.6B | $353M | 0.0% | 62.2% | — | 8.0% | $728M | $3.8B | $2M |
| 2024 | $1.5B | $223M | 0.0% | 61.5% | — | 5.4% | $634M | $3.5B | $4M |
| 2023 | $1.3B | $119M | 0.0% | 60.6% | — | 3.1% | $643M | $3.2B | $5M |
| 2022 | $1.3B | $84M | 0.0% | 62.0% | — | 2.3% | $623M | $2.9B | $3M |
| 2021 | $1.2B | $46M | 0.0% | 60.4% | — | 1.3% | $632M | $2.6B | $2M |
| 2020 | $1.1B | $24M | 0.0% | 52.8% | — | 0.7% | $341M | $1.9B | $3M |
| 2019 | $848M | $70M | 0.0% | 44.4% | — | 2.1% | $164M | $1.8B | $3M |
| 2018 | $713M | $71M | 0.0% | 53.1% | — | 2.4% | $225M | $981M | $109M |
| 2017 | $580M | $41M | 0.0% | 45.4% | — | — | $192M | — | — |
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jun '26 | $399M | $96M | 0.0% | 63.5% | — | 2.3% | $256M | $3.7B | $5M |
| Mar '26 | $390M | $88M | 0.0% | 61.0% | — | 2.0% | $225M | $3.8B | $5M |
| Dec '25 | $404M | $93M | 0.0% | 62.2% | — | 2.1% | $179M | $3.8B | $2M |
| Sep '25 | $421M | $98M | 0.0% | 61.5% | — | 2.2% | $179M | $3.8B | $6M |
| Jun '25 | $414M | $90M | 0.0% | 62.8% | — | 2.0% | $214M | $3.7B | $5M |
| Mar '25 | $382M | $72M | 0.0% | 62.1% | — | 1.7% | $157M | $3.6B | $6M |
| Dec '24 | $396M | $70M | 0.0% | 61.4% | — | 1.7% | $163M | $3.5B | $4M |
| Sep '24 | $379M | $59M | 0.0% | 61.2% | — | 1.4% | $133M | $3.5B | $10M |
| Jun '24 | $366M | $50M | 0.0% | 60.8% | — | 1.2% | $208M | $3.5B | $100M |
| Mar '24 | $356M | $45M | 0.0% | 62.4% | — | 1.2% | $131M | $3.3B | $4M |
| Dec '23 | $357M | $38M | 0.0% | 58.9% | — | 1.0% | $184M | $3.2B | $5M |
| Sep '23 | $363M | $35M | 0.0% | 60.6% | — | 0.9% | $163M | $3.1B | $3M |
| Jun '23 | $324M | $25M | 0.0% | 61.1% | — | 0.7% | $162M | $3.1B | $3M |
| Mar '23 | $305M | $21M | 0.0% | 61.9% | — | 0.6% | $134M | $3.0B | $4M |
| Dec '22 | $315M | $22M | 0.0% | 62.4% | — | 0.6% | $161M | $2.9B | $3M |
| Sep '22 | $335M | $23M | 0.0% | 60.9% | — | 0.6% | $169M | $2.9B | $3M |
| Jun '22 | $313M | $22M | 0.0% | 62.3% | — | 0.6% | $157M | $2.9B | $2M |
| Mar '22 | $312M | $17M | 0.0% | 62.6% | — | 0.5% | $136M | $2.6B | $3M |
| Dec '21 | $316M | $17M | 0.0% | 63.2% | — | 0.5% | $180M | $2.6B | $2M |
| Sep '21 | $304M | $10M | 0.0% | 52.4% | — | 0.3% | $115M | $2.6B | $3M |
How the market has priced HESM against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Hess Midstream Lp's revenue has grown 8.2% per year, and net income grown 71.2% per year. These are computed facts, not advice.
As of FY2025, Hess Midstream Lp reported $3.8B of total debt against $2M of cash.
In FY2025, gross margin was —, operating margin 62.2%, and net margin 21.8%.
As of Sep '26, Hess Midstream Lp traded at a price-to-earnings ratio of about 14.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.