Hess Midstream (HESM) Net Margin (2018 - 2026)
Hess Midstream (HESM) posted quarterly Net Margin of 40.43% for Q1 2026, down 183.0% year-over-year from 48.71% in Q1 2025, and down 37.12% quarter-over-quarter from 64.29% in Q4 2025.
Hess Midstream (HESM) Net Margin (2018 - 2026) Analysis & Trends
Hess Midstream's Net Margin history runs 9 years deep, the most recent figure standing at 40.43% for Q1 2026.
- In Q1 2026, Net Margin fell 183.0% year-over-year to 40.43%; the TTM figure through Mar 2026 stood at 47.48% (up 421.0% YoY), while the FY2025 annual figure was 48.01%, up 395.0% from the prior year.
- Net Margin for Q1 2026 stood at 40.43%, down from 64.29% in the prior quarter.
- The five-year high for Net Margin was 64.29% in Q4 2025, with the low at 40.43% in Q1 2026.
- The 5-year median for Net Margin is 45.64% (2024), against an average of 46.63%.
- The sharpest annual moves came in 2024 and 2025: Net Margin slumped 827 bps in 2024, then surged 2082 bps in 2025.
- Hess Midstream's Net Margin stood at 47.42% in 2022, then grew by 9 bps to 51.74% in 2023, then fell by 16 bps to 43.47% in 2024, then surged by 48 bps to 64.29% in 2025, then slumped by 37 bps to 40.43% in 2026.
- Business Quant data shows HESM's Net Margin at 40.43% in Q1 2026, 64.29% in Q4 2025, and 41.7% in Q3 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 112.69 Bn | 112.57 Bn | 3.07 Bn | 19.97% |
| 2 | Enbridge | 110.90 Bn | 109.41 Bn | 5.23 Bn | 4.76% |
| 3 | Enterprise Products Partners | 83.47 Bn | 82.57 Bn | - | 10.16% |
| 4 | Energy Transfer | 72.69 Bn | 71.66 Bn | 7.40 Bn | 5.90% |
| 5 | Tc Energy | 65.95 Bn | 58.39 Bn | 1.24 Bn | 55.36% |
| 6 | Oneok | 60.15 Bn | 59.99 Bn | 2.81 Bn | 8.03% |
| 7 | Mplx | 59.97 Bn | 58.94 Bn | 2.73 Bn | 32.82% |
| 8 | Targa Resources | 59.51 Bn | 59.37 Bn | 2.14 Bn | 17.22% |
| 9 | Cheniere Energy | 56.09 Bn | 54.84 Bn | 5.29 Bn | 63.54% |
| 10 | Hess Midstream | 5.10 Bn | 5.09 Bn | - | 43.53% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 43.53% |
| Mar 31, 2026 | 40.43% |
| Dec 31, 2025 | 64.29% |
| Sep 30, 2025 | 41.70% |
| Jun 30, 2025 | 43.46% |
| Mar 31, 2025 | 42.25% |
| Dec 31, 2024 | 43.47% |
| Sep 30, 2024 | 43.51% |
| Jun 30, 2024 | 43.86% |
| Mar 31, 2024 | 45.64% |
| Dec 31, 2023 | 51.74% |
| Sep 30, 2023 | 45.39% |
| Jun 30, 2023 | 45.72% |
| Mar 31, 2023 | 46.62% |
| Dec 31, 2022 | 47.42% |
| Sep 30, 2022 | 47.61% |
| Jun 30, 2022 | 48.44% |
| Mar 31, 2022 | 51.09% |
| Dec 31, 2021 | 52.20% |
| Sep 30, 2021 | 43.14% |