Hess Midstream (HESM) EBITDA Margin (2018 - 2026)
Hess Midstream (HESM) recorded quarterly EBITDA Margin of 76.31% in Q1 2026, up 1.61% quarter-over-quarter from 75.1% in Q4 2025, and up 48.0% on a YoY basis from 51.56% in Q1 2025.
Hess Midstream (HESM) EBITDA Margin (2018 - 2026) Analysis & Trends
Hess Midstream's EBITDA Margin history runs 9 years deep, the most recent figure standing at 76.31% for Q1 2026.
- In Q1 2026, EBITDA Margin rose 48.0% year-over-year to 76.31%; the TTM figure through Mar 2026 stood at 75.44% (up 45.0% YoY), while the FY2025 annual figure was 75.38%, up 35.0% from the prior year.
- EBITDA Margin was 76.31% for Q1 2026 at Hess Midstream, up from 75.1% in the prior quarter.
- In the past five years, EBITDA Margin ranged from a high of 77.41% in Q1 2023 to a low of 73.22% in Q4 2023.
- Historically, EBITDA Margin has averaged 75.53% across 5 years, with a median of 75.45% in 2025.
- The sharpest annual moves came in 2022 and 2023: EBITDA Margin soared 848 bps in 2022, then sank 413 bps in 2023.
- A 5-year view of EBITDA Margin shows it stood at 77.35% in 2022, then slipped by 5 bps to 73.22% in 2023, then climbed by 2 bps to 74.34% in 2024, then advanced by 1 bps to 75.1% in 2025, then increased by 2 bps to 76.31% in 2026.
- The last three EBITDA Margin figures came in at 76.31% (Q1 2026), 75.1% (Q4 2025), and 74.96% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 88.33 Bn | 89.03 Bn | 6.70 Bn | 14.43% |
| 2 | Enterprise Products Partners | 80.83 Bn | 79.68 Bn | - | 13.17% |
| 3 | Kinder Morgan | 69.66 Bn | 70.75 Bn | 3.08 Bn | 29.91% |
| 4 | Energy Transfer | 65.60 Bn | 64.88 Bn | 6.62 Bn | 10.74% |
| 5 | Scorpio Tankers | 59.17 Bn | 58.19 Bn | - | - |
| 6 | Mplx | 57.43 Bn | 55.92 Bn | 2.54 Bn | 50.33% |
| 7 | Targa Resources | 56.68 Bn | 56.71 Bn | 1.70 Bn | 28.57% |
| 8 | Oneok | 55.34 Bn | 55.21 Bn | 2.57 Bn | 14.85% |
| 9 | Tc Energy | 50.79 Bn | 51.99 Bn | 2.95 Bn | 68.07% |
| 10 | Hess Midstream | 4.98 Bn | 4.97 Bn | - | 76.31% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 76.31% |
| Dec 31, 2025 | 75.10% |
| Sep 30, 2025 | 74.96% |
| Jun 30, 2025 | 75.45% |
| Mar 31, 2025 | 75.83% |
| Dec 31, 2024 | 74.34% |
| Sep 30, 2024 | 75.00% |
| Jun 30, 2024 | 74.82% |
| Mar 31, 2024 | 76.43% |
| Dec 31, 2023 | 73.22% |
| Sep 30, 2023 | 73.85% |
| Jun 30, 2023 | 75.77% |
| Mar 31, 2023 | 77.41% |
| Dec 31, 2022 | 77.35% |
| Sep 30, 2022 | 74.52% |
| Jun 30, 2022 | 76.77% |
| Mar 31, 2022 | 76.87% |
| Dec 31, 2021 | 76.95% |
| Sep 30, 2021 | 66.04% |
| Jun 30, 2021 | 76.66% |