Hess Midstream (HESM) FCF Margin (2019 - 2026)
Hess Midstream (HESM) posted FCF Margin of 57.76% for Q1 2026, up 31.46% on a QoQ basis from 43.93% in Q4 2025, and up 1658.0% year-on-year from 3.29% in Q1 2025.
Hess Midstream (HESM) FCF Margin (2019 - 2026) Analysis & Trends
Hess Midstream has disclosed FCF Margin across 8 years of filings, most recently posting 57.76% for Q1 2026.
- FCF Margin for Q1 2026 came in at 57.76%, up 1658.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 48.81% (up 533.0% YoY), and the FY2025 annual result was 44.91%, up 251.0% from the prior year.
- FCF Margin came in at 57.76% for Q1 2026 at Hess Midstream, up from 43.93% in the prior quarter.
- Over the last five years, FCF Margin for HESM reached as high as 57.76% in Q1 2026 and fell as low as 35.12% in Q3 2024.
- Median FCF Margin over the past 5 years was 44.91% (2023), compared with a mean of 46.66%.
- Year-over-year, FCF Margin sank 1711 bps in 2022 and soared 1658 bps in 2026.
- Over 5 years, FCF Margin stood at 51.29% in 2022, then gained by 1 bps to 51.74% in 2023, then slipped by 20 bps to 41.27% in 2024, then advanced by 6 bps to 43.93% in 2025, then soared by 31 bps to 57.76% in 2026.
- Per Business Quant, the three latest HESM FCF Margin figures stand at 57.76% (Q1 2026), 43.93% (Q4 2025), and 42.5% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | -0.43% |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 28.13% |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | 3.38% |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 5.26% |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | -3.91% |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 25.41% |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 0.73% |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 24.42% |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | -52.58% |
| 10 | Hess Midstream | 4.86 Bn | 4.85 Bn | - | 57.76% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 57.76% |
| Dec 31, 2025 | 43.93% |
| Sep 30, 2025 | 42.50% |
| Jun 30, 2025 | 51.63% |
| Mar 31, 2025 | 41.18% |
| Dec 31, 2024 | 41.27% |
| Sep 30, 2024 | 35.12% |
| Jun 30, 2024 | 56.97% |
| Mar 31, 2024 | 36.70% |
| Dec 31, 2023 | 51.74% |
| Sep 30, 2023 | 44.91% |
| Jun 30, 2023 | 49.95% |
| Mar 31, 2023 | 44.07% |
| Dec 31, 2022 | 51.29% |
| Sep 30, 2022 | 50.42% |
| Jun 30, 2022 | 50.26% |
| Mar 31, 2022 | 43.51% |
| Dec 31, 2021 | 57.00% |
| Sep 30, 2021 | 37.74% |
| Jun 30, 2021 | 67.37% |