Hess Midstream (HESM) Return on Capital Employed [ROCE] (2020 - 2026)
Hess Midstream's Return on Capital Employed [ROCE] was 28.41% in Q3 2026, up 4.65 percentage points from 23.76% a year earlier and up 3.87 percentage points from the prior quarter.
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Analysis
Hess Midstream (HESM) Return on Capital Employed [ROCE] (2020 - 2026) Analysis & Trends
For FY2025, Return on Capital Employed [ROCE] at Hess Midstream came in at 24.70%, up 0.20 percentage points from FY2024.
- Return on Capital Employed [ROCE] has now increased for six consecutive years, with a five-year change of +6.69 percentage points (FY2020 to FY2025).
- In earlier years, Return on Capital Employed [ROCE] was 24.50% in FY2024 (+1.02 pp), 23.48% in FY2023 (+0.06 pp), 23.43% in FY2022 (+1.11 pp) and 22.31% in FY2021 (+4.30 pp).
- The Q3 2026 figure marks the highest quarterly Return on Capital Employed [ROCE] in data going back to Q1 2020.
- Compared with a year earlier, Return on Capital Employed [ROCE] has increased for 11 straight quarters, with an average year-over-year change of +1.11 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Capital Employed [ROCE] over five years was Q3 2026 (a gain of 4.65 percentage points); the worst was Q3 2023 (a drop of 0.42 percentage points).
- Per Business Quant data, HESM's Return on Capital Employed [ROCE] in the three quarters before Q3 2026 was 24.54% (Q2 2026), 24.18% (Q1 2026) and 23.86% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 106.26 Bn | 104.14 Bn | 4.35 Bn | 5.39% |
| 2 | Williams Companies | 86.41 Bn | 89.20 Bn | 2.59 Bn | 7.90% |
| 3 | Enterprise Products Partners | 82.58 Bn | 80.98 Bn | 14.00 Mn | 12.76% |
| 4 | Kinder Morgan | 71.13 Bn | 71.22 Bn | 2.97 Bn | 7.64% |
| 5 | Tc Energy | 67.40 Bn | 71.05 Bn | - | - |
| 6 | Energy Transfer | 66.89 Bn | 62.98 Bn | 6.57 Bn | 8.92% |
| 7 | Targa Resources | 63.77 Bn | 62.98 Bn | 2.02 Bn | 16.29% |
| 8 | Cheniere Energy | 63.04 Bn | 62.60 Bn | 2.97 Bn | 15.11% |
| 9 | Mplx | 58.00 Bn | 52.25 Bn | 3.19 Bn | 13.41% |
| 10 | Hess Midstream | 3.97 Bn | 3.85 Bn | - | 28.41% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 28.41% |
| Jun 30, 2026 | 24.54% |
| Mar 31, 2026 | 24.18% |
| Dec 31, 2025 | 23.86% |
| Sep 30, 2025 | 23.76% |
| Jun 30, 2025 | 23.54% |
| Mar 31, 2025 | 23.24% |
| Dec 31, 2024 | 23.39% |
| Sep 30, 2024 | 22.85% |
| Jun 30, 2024 | 23.23% |
| Mar 31, 2024 | 23.17% |
| Dec 31, 2023 | 22.87% |
| Sep 30, 2023 | 22.66% |
| Jun 30, 2023 | 22.68% |
| Mar 31, 2023 | 22.77% |
| Dec 31, 2022 | 23.03% |
| Sep 30, 2022 | 23.08% |
| Jun 30, 2022 | 22.13% |
| Mar 31, 2022 | 22.16% |
| Dec 31, 2021 | 22.04% |
API Access
Hess Midstream Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=HESM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=HESM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();