Hess Midstream (HESM) EBITDA Margin (2018 - 2026)
Hess Midstream (HESM) posted EBITDA Margin of 77.09% for Q2 2026, up 1.4% on a QoQ basis from 76.03% in Q1 2026, and up 177.0% year-over-year from 27.83% in Q2 2025.
Analysis
Hess Midstream (HESM) EBITDA Margin (2018 - 2026) Analysis & Trends
Hess Midstream has reported EBITDA Margin for 9 years, with the latest figure at 77.09% in Q2 2026.
- On a quarterly basis, EBITDA Margin rose 177.0% year-over-year to 77.09% in Q2 2026; TTM through Jun 2026 was 75.92%, a 89.0% increase from a year earlier, with the FY2025 full-year figure at 75.38%, up 35.0% from the prior year.
- EBITDA Margin was 77.09% for Q2 2026 at Hess Midstream, up from 76.03% in the prior quarter.
- The five-year high for EBITDA Margin was 77.41% in Q1 2023, with the low at 73.07% in Q4 2023.
- Average EBITDA Margin over 5 years is 75.55%, with a median of 75.64% recorded in 2025.
- The sharpest annual moves came in 2022 and 2023: EBITDA Margin jumped 848 bps in 2022, then tumbled 411 bps in 2023.
- Over 5 years, EBITDA Margin stood at 77.18% in 2022, then slipped by 5 bps to 73.07% in 2023, then climbed by 2 bps to 74.34% in 2024, then rose by 2 bps to 75.66% in 2025, then increased by 2 bps to 77.09% in 2026.
- The last three EBITDA Margin figures came in at 77.09% (Q2 2026), 76.03% (Q1 2026), and 75.66% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 111.69 Bn | 112.81 Bn | 3.07 Bn | 30.06% |
| 2 | Enterprise Products Partners | 84.07 Bn | 83.21 Bn | - | 12.31% |
| 3 | Energy Transfer | 74.03 Bn | 73.00 Bn | 7.40 Bn | 10.41% |
| 4 | Tc Energy | 65.16 Bn | 64.62 Bn | 1.80 Bn | 58.43% |
| 5 | Targa Resources | 62.18 Bn | 62.19 Bn | 2.14 Bn | 35.71% |
| 6 | Mplx | 60.51 Bn | 59.48 Bn | 2.73 Bn | 51.27% |
| 7 | Oneok | 60.16 Bn | 60.09 Bn | 2.81 Bn | 13.22% |
| 8 | Enbridge | 54.38 Bn | 54.88 Bn | 5.23 Bn | 9.93% |
| 9 | Pembina Pipeline | 28.12 Bn | 27.76 Bn | 933.00 Mn | 37.45% |
| 10 | Hess Midstream | 5.12 Bn | 5.12 Bn | - | 77.09% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 77.09% |
| Mar 31, 2026 | 76.03% |
| Dec 31, 2025 | 75.66% |
| Sep 30, 2025 | 74.96% |
| Jun 30, 2025 | 75.33% |
| Mar 31, 2025 | 75.63% |
| Dec 31, 2024 | 74.34% |
| Sep 30, 2024 | 74.82% |
| Jun 30, 2024 | 74.64% |
| Mar 31, 2024 | 76.43% |
| Dec 31, 2023 | 73.07% |
| Sep 30, 2023 | 73.73% |
| Jun 30, 2023 | 75.65% |
| Mar 31, 2023 | 77.41% |
| Dec 31, 2022 | 77.18% |
| Sep 30, 2022 | 74.52% |
| Jun 30, 2022 | 76.68% |
| Mar 31, 2022 | 76.79% |
| Dec 31, 2021 | 76.95% |
| Sep 30, 2021 | 66.04% |