Hess Midstream (HESM) Capital Expenditures (2019 - 2026)
Hess Midstream's Capital Expenditures was $23.1 million in Q2 2026, down 63.6% from $63.4 million a year earlier and down 19.8% from the prior quarter.
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Analysis
Hess Midstream (HESM) Capital Expenditures (2019 - 2026) Analysis & Trends
On a trailing twelve-month basis, Hess Midstream's Capital Expenditures was $198.6 million through Jun 30, 2026, down 33.0% year-over-year; for FY2025, it came in at $255.6 million, down 16.5% from FY2024.
- Capital Expenditures shows a five-year compound annual growth rate of -3.2% (FY2020 to FY2025).
- In earlier years, Capital Expenditures was $306.1 million in FY2024 (+37.0%), $223.5 million in FY2023 (-6.2%), $238.2 million in FY2022 (+46.0%) and $163.2 million in FY2021 (-45.8%).
- The Q2 2026 figure marks the lowest quarterly Capital Expenditures in data going back to Q1 2019.
- Compared with a year earlier, Capital Expenditures has declined for six straight quarters, with an average decline of 4.5% over the last eight quarters.
- The best year-over-year quarter for Capital Expenditures over five years was Q2 2022 (growth of 115.0%); the worst was Q2 2026 (a decline of 63.6%).
- Per Business Quant data, HESM's Capital Expenditures in the three quarters before Q2 2026 was $28.8 million (Q1 2026), $66.7 million (Q4 2025) and $80 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 101.53 Bn | 99.08 Bn | 4.84 Bn | 2.15 Bn |
| 2 | Enterprise Products Partners | 76.92 Bn | 75.35 Bn | - | 1.16 Bn |
| 3 | Energy Transfer | 67.97 Bn | 61.41 Bn | 7.40 Bn | 1.56 Bn |
| 4 | Kinder Morgan | 67.10 Bn | 68.05 Bn | 3.07 Bn | 982.00 Mn |
| 5 | Tc Energy | 60.19 Bn | 63.26 Bn | 2.81 Bn | -773.53 Mn |
| 6 | Targa Resources | 57.97 Bn | 57.59 Bn | 2.14 Bn | 1.01 Bn |
| 7 | Mplx | 57.16 Bn | 50.72 Bn | 2.91 Bn | 825.00 Mn |
| 8 | Cheniere Energy | 55.61 Bn | 55.74 Bn | 5.29 Bn | 1.18 Bn |
| 9 | Oneok | 53.75 Bn | 52.24 Bn | 2.81 Bn | 613.00 Mn |
| 10 | Hess Midstream | 4.80 Bn | 4.78 Bn | - | 23.10 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 23.10 Mn |
| Mar 31, 2026 | 28.80 Mn |
| Dec 31, 2025 | 66.70 Mn |
| Sep 30, 2025 | 80.00 Mn |
| Jun 30, 2025 | 63.40 Mn |
| Mar 31, 2025 | 45.50 Mn |
| Dec 31, 2024 | 95.10 Mn |
| Sep 30, 2024 | 92.30 Mn |
| Jun 30, 2024 | 63.90 Mn |
| Mar 31, 2024 | 54.80 Mn |
| Dec 31, 2023 | 63.50 Mn |
| Sep 30, 2023 | 52.70 Mn |
| Jun 30, 2023 | 43.00 Mn |
| Mar 31, 2023 | 64.30 Mn |
| Dec 31, 2022 | 61.60 Mn |
| Sep 30, 2022 | 65.90 Mn |
| Jun 30, 2022 | 55.90 Mn |
| Mar 31, 2022 | 54.80 Mn |
| Dec 31, 2021 | 43.20 Mn |
| Sep 30, 2021 | 67.30 Mn |
API Access
Hess Midstream Capital Expenditures API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=capital-expenditures&ticker=HESM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "capital-expenditures", "ticker": "HESM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=capital-expenditures&ticker=HESM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();