Hess Midstream (HESM) FCF Margin (2019 - 2026)
Hess Midstream (HESM) posted FCF Margin of 64.04% for Q2 2026, up 12.49 percentage points from 51.55% a year earlier and up 6.49 percentage points from the prior quarter.
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Analysis
Hess Midstream (HESM) FCF Margin (2019 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, FCF Margin at Hess Midstream was 51.90%, up 9.47 percentage points year-over-year; for FY2025, it came in at 44.91%, up 2.51 percentage points from FY2024.
- Annual FCF Margin shows a five-year change of +13.72 percentage points (FY2020 to FY2025).
- In prior years, Hess Midstream's FCF Margin was 42.41% in FY2024 (-5.26 pp), 47.67% in FY2023 (-1.18 pp), 48.85% in FY2022 (-3.68 pp) and 52.53% in FY2021 (+21.33 pp).
- The Q2 2026 figure stands as the highest quarterly FCF Margin since Q2 2021.
- On a year-over-year basis, FCF Margin has increased in each of the last four quarters, with an average year-over-year change of +2.29 percentage points over the last eight quarters.
- The strongest year-over-year quarter for FCF Margin in the past five years was Q3 2021, with a gain of 18.60 percentage points; the weakest was Q2 2022, with a drop of 17.18 percentage points.
- According to Business Quant data, FCF Margin for the three prior quarters was 57.55% (Q1 2026), 44.26% (Q4 2025) and 42.50% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 102.52 Bn | 100.06 Bn | 4.84 Bn | 3.87% |
| 2 | Enterprise Products Partners | 79.27 Bn | 77.71 Bn | - | 11.07% |
| 3 | Energy Transfer | 69.21 Bn | 62.65 Bn | 7.40 Bn | 7.88% |
| 4 | Kinder Morgan | 68.17 Bn | 69.12 Bn | 3.07 Bn | 21.84% |
| 5 | Tc Energy | 61.09 Bn | 64.16 Bn | 2.81 Bn | 92.82% |
| 6 | Targa Resources | 59.48 Bn | 59.10 Bn | 2.14 Bn | 9.71% |
| 7 | Mplx | 58.45 Bn | 52.01 Bn | 2.91 Bn | 26.48% |
| 8 | Oneok | 55.88 Bn | 54.37 Bn | 2.81 Bn | 11.95% |
| 9 | Cheniere Energy | 55.70 Bn | 55.83 Bn | 5.29 Bn | 6.94% |
| 10 | Hess Midstream | 4.94 Bn | 4.92 Bn | - | 64.04% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 64.04% |
| Mar 31, 2026 | 57.55% |
| Dec 31, 2025 | 44.26% |
| Sep 30, 2025 | 42.50% |
| Jun 30, 2025 | 51.55% |
| Mar 31, 2025 | 41.07% |
| Dec 31, 2024 | 41.27% |
| Sep 30, 2024 | 35.03% |
| Jun 30, 2024 | 56.83% |
| Mar 31, 2024 | 36.70% |
| Dec 31, 2023 | 51.64% |
| Sep 30, 2023 | 44.84% |
| Jun 30, 2023 | 49.88% |
| Mar 31, 2023 | 44.07% |
| Dec 31, 2022 | 51.18% |
| Sep 30, 2022 | 50.42% |
| Jun 30, 2022 | 50.19% |
| Mar 31, 2022 | 43.47% |
| Dec 31, 2021 | 57.00% |
| Sep 30, 2021 | 37.74% |
API Access
Hess Midstream FCF 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=fcf-margin&ticker=HESM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-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=fcf-margin&ticker=HESM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();