Hess Midstream (HESM) Return on Invested Capital [ROIC] (2020 - 2026)
Hess Midstream's Return on Invested Capital [ROIC] came in at 20.84% for Q3 2026, up 0.33 percentage points from 20.51% a year earlier and up 0.16 percentage points from the prior quarter.
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Analysis
Hess Midstream (HESM) Return on Invested Capital [ROIC] (2020 - 2026) Analysis & Trends
For FY2025, Hess Midstream's Return on Invested Capital [ROIC] was 20.89%, down 1.18 percentage points from FY2024.
- Return on Invested Capital [ROIC] carries a five-year change of +2.99 percentage points (FY2020 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was 22.06% in FY2024 (+0.06 pp), 22.00% in FY2023 (-0.54 pp), 22.54% in FY2022 (+0.86 pp) and 21.68% in FY2021 (+3.79 pp).
- The Q3 2026 figure represents the highest quarterly Return on Invested Capital [ROIC] since Q4 2024.
- Year-over-year, Return on Invested Capital [ROIC] increased in two of the last eight quarters, with an average year-over-year change of -0.42 percentage points.
- The fastest year-over-year change in Return on Invested Capital [ROIC] over five years came in Q4 2021 (a gain of 3.94 percentage points), and the weakest in Q1 2025 (a drop of 1.01 percentage points).
- Business Quant data shows HESM's Return on Invested Capital [ROIC] at 20.68% (Q2 2026), 20.24% (Q1 2026) and 20.19% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 106.26 Bn | 104.14 Bn | 4.35 Bn | 4.91% |
| 2 | Williams Companies | 86.41 Bn | 89.20 Bn | 2.59 Bn | 16.19% |
| 3 | Enterprise Products Partners | 82.58 Bn | 80.98 Bn | 14.00 Mn | 12.57% |
| 4 | Kinder Morgan | 71.13 Bn | 71.22 Bn | 2.97 Bn | 6.34% |
| 5 | Tc Energy | 67.40 Bn | 71.05 Bn | - | 10.22% |
| 6 | Energy Transfer | 66.89 Bn | 62.98 Bn | 6.57 Bn | 8.84% |
| 7 | Targa Resources | 63.77 Bn | 62.98 Bn | 2.02 Bn | 13.71% |
| 8 | Cheniere Energy | 63.04 Bn | 62.60 Bn | 2.97 Bn | 15.49% |
| 9 | Mplx | 58.00 Bn | 52.25 Bn | 3.19 Bn | 13.59% |
| 10 | Hess Midstream | 3.97 Bn | 3.85 Bn | - | 20.84% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 20.84% |
| Jun 30, 2026 | 20.68% |
| Mar 31, 2026 | 20.24% |
| Dec 31, 2025 | 20.19% |
| Sep 30, 2025 | 20.51% |
| Jun 30, 2025 | 20.57% |
| Mar 31, 2025 | 20.76% |
| Dec 31, 2024 | 21.06% |
| Sep 30, 2024 | 20.75% |
| Jun 30, 2024 | 21.32% |
| Mar 31, 2024 | 21.77% |
| Dec 31, 2023 | 21.45% |
| Sep 30, 2023 | 21.46% |
| Jun 30, 2023 | 21.66% |
| Mar 31, 2023 | 21.90% |
| Dec 31, 2022 | 22.19% |
| Sep 30, 2022 | 22.33% |
| Jun 30, 2022 | 21.43% |
| Mar 31, 2022 | 21.63% |
| Dec 31, 2021 | 21.53% |
API Access
Hess Midstream Return on Invested Capital [ROIC] 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-invested-capital-%5Broic%5D&ticker=HESM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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-invested-capital-%5Broic%5D&ticker=HESM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();