Hess Midstream (HESM) FCF Margin (2019 - 2026)
Hess Midstream (HESM) posted FCF Margin of 59.06% for Q3 2026, up 16.55 percentage points from 42.50% a year earlier but down 4.98 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 Sep 30, 2026, FCF Margin at Hess Midstream was 56.20%, up 12.01 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).
- Quarterly FCF Margin has run from a low of 35.03% in Q3 2024 to a high of 69.68% in Q3 2022 over five years.
- On a year-over-year basis, FCF Margin has increased in each of the last five quarters, with an average year-over-year change of +5.59 percentage points over the last eight quarters.
- The strongest year-over-year quarter for FCF Margin in the past five years was Q3 2026, with a gain of 16.55 percentage points; the weakest was Q3 2024, with a drop of 23.46 percentage points.
- According to Business Quant data, FCF Margin for the three prior quarters was 64.04% (Q2 2026), 57.55% (Q1 2026) and 44.26% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 106.26 Bn | 104.14 Bn | 4.35 Bn | -3.51% |
| 2 | Williams Companies | 86.41 Bn | 89.20 Bn | 2.59 Bn | -30.53% |
| 3 | Enterprise Products Partners | 82.58 Bn | 80.98 Bn | 14.00 Mn | 6.28% |
| 4 | Kinder Morgan | 71.13 Bn | 71.22 Bn | 2.97 Bn | 12.03% |
| 5 | Tc Energy | 67.40 Bn | 71.05 Bn | - | - |
| 6 | Energy Transfer | 66.89 Bn | 62.98 Bn | 6.57 Bn | 5.76% |
| 7 | Targa Resources | 63.77 Bn | 62.98 Bn | 2.02 Bn | 2.15% |
| 8 | Cheniere Energy | 63.04 Bn | 62.60 Bn | 2.97 Bn | 28.09% |
| 9 | Mplx | 58.00 Bn | 52.25 Bn | 3.19 Bn | 18.92% |
| 10 | Hess Midstream | 3.97 Bn | 3.85 Bn | - | 59.06% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 59.06% |
| 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 | 58.50% |
| Jun 30, 2023 | 61.98% |
| Mar 31, 2023 | 44.07% |
| Dec 31, 2022 | 51.18% |
| Sep 30, 2022 | 69.68% |
| Jun 30, 2022 | 67.65% |
| Mar 31, 2022 | 43.47% |
| Dec 31, 2021 | 57.00% |
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();