Financials Hess Midstream LP

Equities

HESM

US4281031058

Oil & Gas Transportation Services

Real-time Estimate Cboe BZX 01:02:33 2024-05-14 pm EDT 5-day change 1st Jan Change
35.18 USD -0.06% Intraday chart for Hess Midstream LP +1.28% +11.30%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 407.3 352.8 930.1 1,317 2,162 2,813 - -
Enterprise Value (EV) 1 2,158 2,260 3,491 4,199 2,162 6,362 6,361 6,607
P/E ratio 18.9 x 14.9 x 15.7 x 14.9 x 15.2 x 13.9 x 11.8 x 10 x
Yield 1.88% 8.97% 7.18% 7.48% 7.71% 7.63% 8.18% 8.88%
Capitalization / Revenue 0.48 x 0.32 x 0.77 x 1.03 x 1.6 x 1.88 x 1.69 x 1.57 x
EV / Revenue 2.54 x 2.07 x 2.9 x 3.29 x 1.6 x 4.26 x 3.83 x 3.69 x
EV / EBITDA 4.22 x 3.02 x 3.84 x 4.27 x 2.12 x 5.53 x 4.99 x 4.81 x
EV / FCF - 5.68 x 5.98 x 6.74 x 3.48 x 9.66 x 8.47 x 8.63 x
FCF Yield - 17.6% 16.7% 14.8% 28.7% 10.4% 11.8% 11.6%
Price to Book 2.52 x 44.5 x 34.3 x 29.3 x - - - -
Nbr of stocks (in thousands) 17,961 18,028 33,663 44,003 68,358 79,921 - -
Reference price 2 22.68 19.57 27.63 29.92 31.63 35.20 35.20 35.20
Announcement Date 1/29/20 1/27/21 1/26/22 1/25/23 1/31/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 848.3 1,092 1,204 1,275 1,349 1,495 1,663 1,792
EBITDA 1 511.4 748.8 908.5 982.9 1,022 1,150 1,275 1,372
EBIT 1 376.6 576.5 727.2 791.2 816.9 938.6 1,049 1,148
Operating Margin 44.39% 52.8% 60.41% 62.05% 60.57% 62.78% 63.06% 64.07%
Earnings before Tax (EBT) 1 372.6 - 632.4 - 645.6 749.5 847.8 917
Net income 1 66.7 - 46.4 83.9 118.6 176.2 196.1 295
Net margin 7.86% - 3.85% 6.58% 8.79% 11.79% 11.79% 16.46%
EPS 2 1.200 1.310 1.760 2.010 2.080 2.535 2.971 3.511
Free Cash Flow 1 - 397.9 583.9 622.9 620.7 658.7 750.7 765.5
FCF margin - 36.44% 48.5% 48.85% 46.03% 44.06% 45.14% 42.71%
FCF Conversion (EBITDA) - 53.14% 64.27% 63.37% 60.72% 57.26% 58.89% 55.79%
FCF Conversion (Net income) - - 1,258.41% 742.43% 523.36% 373.77% 382.84% 259.49%
Dividend per Share 2 0.4258 1.756 1.984 2.237 2.438 2.684 2.878 3.125
Announcement Date 1/29/20 1/27/21 1/26/22 1/25/23 1/31/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 316.3 312.4 313.4 334.8 314.6 305 324 363.1 356.5 355.6 367.7 383.6 392.6 396.8 409.8
EBITDA 1 246.6 241.6 242.6 253.6 245.1 239 248.1 271 264.1 275.8 279.7 293.2 300.9 308.2 313.6
EBIT 1 199.9 195.5 195.3 204 196.4 188.7 198.1 220 210.1 222 228 241.6 249.1 254.3 258.4
Operating Margin 63.2% 62.58% 62.32% 60.93% 62.43% 61.87% 61.14% 60.59% 58.93% 62.43% 62.01% 62.97% 63.44% 64.1% 63.06%
Earnings before Tax (EBT) 1 - - 158.9 - - 148.7 156 - 164.7 176.2 179.5 193.1 200.8 203 204.9
Net income 1 - 16.9 22 - - 20.7 25.1 35.3 37.5 44.6 45.48 48.57 50.55 51.86 44.04
Net margin - 5.41% 7.02% - - 6.79% 7.75% 9.72% 10.52% 12.54% 12.37% 12.66% 12.87% 13.07% 10.75%
EPS 2 0.5100 0.4900 0.5000 0.5300 0.4900 0.4700 0.5000 0.5700 0.5500 0.5900 0.6122 0.6513 0.6776 0.6980 0.6900
Dividend per Share 2 0.5167 0.5492 0.5559 0.5627 0.5696 0.5851 0.6011 0.6175 0.6343 - 0.6647 0.6777 0.6915 0.7074 0.7173
Announcement Date 1/26/22 4/27/22 7/27/22 10/26/22 1/25/23 4/26/23 7/26/23 11/2/23 1/31/24 4/25/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,750 1,908 2,561 2,883 - 3,549 3,548 3,794
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.422 x 2.547 x 2.819 x 2.933 x - 3.085 x 2.784 x 2.765 x
Free Cash Flow 1 - 398 584 623 621 659 751 766
ROE (net income / shareholders' equity) - 18.7% 28.2% 37.4% - 116% 542% -
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 8.990 0.4400 0.8100 1.020 - - - -
Cash Flow per Share - 35.50 31.00 - - - - -
Capex 1 396 274 187 238 246 271 280 283
Capex / Sales 46.63% 25.1% 15.5% 18.68% 18.22% 18.12% 16.83% 15.81%
Announcement Date 1/29/20 1/27/21 1/26/22 1/25/23 1/31/24 - - -
1USD in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
35.2 USD
Average target price
37.8 USD
Spread / Average Target
+7.39%
Consensus
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  4. Financials Hess Midstream LP
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