Hess Midstream (HESM) EBITDA Margin (2018 - 2026)
Hess Midstream (HESM) posted EBITDA Margin of 76.31% for Q1 2026, up 1.61% on a QoQ basis from 75.1% in Q4 2025, and up 48.0% year-on-year from 51.56% in Q1 2025.
Hess Midstream (HESM) EBITDA Margin (2018 - 2026) Analysis & Trends
Hess Midstream has disclosed EBITDA Margin across 9 years of filings, most recently posting 76.31% for Q1 2026.
- EBITDA Margin for Q1 2026 came in at 76.31%, up 48.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 75.44% (up 45.0% YoY), and the FY2025 annual result was 75.38%, up 35.0% from the prior year.
- EBITDA Margin came in at 76.31% for Q1 2026 at Hess Midstream, up from 75.1% in the prior quarter.
- Over the last five years, EBITDA Margin for HESM reached as high as 77.41% in Q1 2023 and fell as low as 73.22% in Q4 2023.
- Median EBITDA Margin over the past 5 years was 75.45% (2025), compared with a mean of 75.53%.
- Year-over-year, EBITDA Margin jumped 848 bps in 2022 and plunged 413 bps in 2023.
- Over 5 years, EBITDA Margin 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.
- Per Business Quant, the three latest HESM EBITDA Margin figures stand at 76.31% (Q1 2026), 75.1% (Q4 2025), and 74.96% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | 14.43% |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 29.91% |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | 13.17% |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 10.74% |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | 28.57% |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 50.33% |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 14.85% |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 14.83% |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | 30.44% |
| 10 | Hess Midstream | 4.86 Bn | 4.85 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% |