Hess Midstream (HESM) EBITDA Margin (2019 - 2026)
Hess Midstream (HESM) recorded EBITDA Margin of 77.09% in Q2 2026, up 1.77 percentage points from 75.33% a year earlier and up 1.06 percentage points from the prior quarter.
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Analysis
Hess Midstream (HESM) EBITDA Margin (2019 - 2026) Analysis & Trends
On a TTM basis, Hess Midstream's EBITDA Margin came in at 75.92% as of Jun 30, 2026, up 0.89 percentage points year-over-year; for FY2025, it came in at 75.38%, up 0.35 percentage points from FY2024.
- Annual EBITDA Margin has a five-year change of +8.22 percentage points (FY2020 to FY2025).
- Across earlier years, EBITDA Margin came in at 75.03% in FY2024 (+0.18 pp), 74.85% in FY2023 (-1.41 pp), 76.26% in FY2022 (+2.10 pp) and 74.17% in FY2021 (+7.00 pp).
- The Q2 2026 figure is the highest quarterly EBITDA Margin since Q1 2023.
- On a year-over-year basis, EBITDA Margin has increased for five consecutive quarters, with an average year-over-year change of +0.73 percentage points over the last eight quarters.
- Peak year-over-year performance for EBITDA Margin in the last five years was a gain of 8.48 percentage points in Q3 2022, against a drop of 4.11 percentage points in Q4 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 76.03% (Q1 2026), 75.66% (Q4 2025) and 74.96% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 104.90 Bn | 100.50 Bn | 4.84 Bn | 14.80% |
| 2 | Williams Companies | 88.54 Bn | 87.26 Bn | 2.54 Bn | 58.11% |
| 3 | Enterprise Products Partners | 79.68 Bn | 78.07 Bn | - | 15.75% |
| 4 | Kinder Morgan | 75.47 Bn | 75.18 Bn | 3.07 Bn | 43.91% |
| 5 | Energy Transfer | 69.38 Bn | 62.56 Bn | 7.40 Bn | 15.00% |
| 6 | Tc Energy | 64.97 Bn | 61.05 Bn | 2.81 Bn | 153.90% |
| 7 | Targa Resources | 63.42 Bn | 62.90 Bn | 2.14 Bn | 38.12% |
| 8 | Cheniere Energy | 59.27 Bn | 54.10 Bn | 5.29 Bn | 81.65% |
| 9 | Mplx | 58.97 Bn | 52.53 Bn | 2.91 Bn | 52.87% |
| 10 | Hess Midstream | 3.99 Bn | 3.97 Bn | - | 77.84% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 77.84% |
| Mar 31, 2026 | 76.80% |
| Dec 31, 2025 | 76.40% |
| Sep 30, 2025 | 75.67% |
| Jun 30, 2025 | 76.10% |
| Mar 31, 2025 | 76.91% |
| Dec 31, 2024 | 74.99% |
| Sep 30, 2024 | 75.51% |
| Jun 30, 2024 | 75.27% |
| Mar 31, 2024 | 77.02% |
| Dec 31, 2023 | 73.66% |
| Sep 30, 2023 | 74.30% |
| Jun 30, 2023 | 76.30% |
| Mar 31, 2023 | 78.10% |
| Dec 31, 2022 | 77.88% |
| Sep 30, 2022 | 75.24% |
| Jun 30, 2022 | 77.38% |
| Mar 31, 2022 | 77.43% |
| Dec 31, 2021 | 77.58% |
| Sep 30, 2021 | 66.67% |
API Access
Hess Midstream EBITDA Margin 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=ebitda-margin&ticker=HESM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "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=ebitda-margin&ticker=HESM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();