Also trades as: 0J50.L (LSE) · $vol 1M · AHC.DE (XETRA) · $vol 0M

$148.97

Last traded 2025-07-18 — delisted

NYSE · Energy · Oil & Gas Exploration & Production · $46.1B mcap · 291M float · 0.688% daily turnover · Short 34% of daily vol

Credit Bonds: $121.5M held by 202 funds, 67 bp over Treasuries → details ▾

Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

NARROW EDGE

56.8 / 100

NoneWeakNarrowWide

Primary source: Network Effects · ROIC: 17.0% · 5Y Avg: 8.6%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. HES has a Narrow competitive edge (56.8/100) — meaningful but not impregnable advantages over competitors. The primary source of advantage is Network Effects. ROIC of 17.0% confirms the company is generating returns well above its cost of capital — a hallmark of durable competitive advantages.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

$155

Low

$155

Avg Target

$155

High

Based on 1 analyst since Apr 30, 2025 earnings

Analyst Recommendations

Strong Buy: 0Buy: 18Hold: 30Sell: 0Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$—

Analysts0

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2025-07-11	Scotiabank	Paul Cheng	$167	$155	-12	+1.2%	$153.22
2025-04-16	UBS	Josh Silverstein	$96	$163	+67	+27.4%	$127.95
2024-12-09	Wells Fargo	Roger Read	$162	$193	+31	+34.5%	$143.46
2024-11-19	Mizuho Securities	Nitin Kumar	$205	$199	-6	+48.1%	$134.40
2024-10-31	CFRA	Stewart Glickman	Initiated	$145	—	+7.8%	$134.48
2024-10-10	Scotiabank	Paul Cheng	Initiated	$167	—	+20.6%	$138.48
2024-10-04	BMO Capital	Phillip Jungwirth	$105	$160	+55	+13.6%	$140.87
2024-10-01	Piper Sandler	Ryan Todd	$156	$167	+11	+20.7%	$138.37
2024-09-30	Wolfe Research	Doug Leggate	$96	$150	+54	+11.5%	$134.59
2024-08-01	Raymond James	Justin Jenkins	$140	$174	+34	+23.2%	$141.23
2024-07-22	Susquehanna	Biju Perincheril	$138	$166	+28	+9.6%	$151.47
2024-03-20	Mizuho Securities	Nitin Kumar	Initiated	$205	—	+37.3%	$149.33
2023-01-10	Wells Fargo	—	$135	$162	+27	+11.8%	$144.87
2022-12-19	Piper Sandler	—	$164	$156	-8	+17.3%	$133.01
2022-12-07	Barclays	—	$92	$155	+63	+14.3%	$135.61
2022-11-11	Piper Sandler	—	$117	$164	+47	+17.3%	$139.84
2022-04-28	Wells Fargo	—	Initiated	$135	—	+30.8%	$103.22
2022-04-25	Susquehanna	—	Initiated	$138	—	+29.6%	$106.45
2022-04-25	Raymond James	—	$112	$140	+28	+31.5%	$106.45
2022-04-22	Morgan Stanley	—	Initiated	$137	—	+25.9%	$108.84
2022-03-27	Barclays	Hess	Initiated	$92	—	-14.4%	$107.42
2022-01-02	Citigroup	Scott Gruber	Initiated	$89	—	+16.3%	$76.50
2021-12-13	Wolfe Research	Josh Silverstein	Initiated	$96	—	+26.5%	$75.89
2021-11-16	UBS	Lloyd Byrne	Initiated	$96	—	+21.0%	$79.33
2021-10-25	Raymond James	John Freeman	Initiated	$112	—	+26.5%	$88.54
2021-10-21	Piper Sandler	Ryan Todd	Initiated	$117	—	+32.9%	$88.01
2021-10-12	Cowen & Co.	David Deckelbaum	Initiated	$86	—	-2.9%	$88.61
2021-09-27	BMO Capital	Phillip Jungwirth	Initiated	$105	—	+34.4%	$78.10
2021-07-28	MKM Partners	John Gerdes	Initiated	$112	—	+45.8%	$76.84
2021-06-20	Bernstein	Bob Brackett	Initiated	$120	—	+34.2%	$89.45

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 62 Grade A

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. HES scores highest in Momentum (82/100) and lowest in Cash Flow (46/100). An overall grade of A places HES among the highest-quality companies in its peer group.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

3.21

Safe Zone

Piotroski F-Score

6/9

✓ ✓ ✓ ✓ ✓ ✗ ✗ ✗ ✓

Beneish M-Score

-3.36

Unlikely Manipulator

Ohlson O-Score

-8.74

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

A+

Score: 77.3/100

Trend: Improving

Earnings Quality

75/100

OCF/NI: 2.75x

Accruals: -15.0%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. HES scores 3.21, placing it in the Safe Zone (safe > 2.99, distress < 1.81). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. HES scores 6/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. HES's score of -3.36 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. HES's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. HES receives an estimated rating of A+ (score: 77.3/100), with a improving trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). HES's score of 75/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

16.52x

PEG

0.97x

P/S

3.57x

P/B

4.08x

P/FCF

44.05x

P/OCF

8.03x

EV/EBITDA

8.68x

EV/Revenue

4.59x

EV/EBIT

13.94x

EV/FCF

51.38x

Earnings Yield

4.53%

FCF Yield

2.27%

Shareholder Yield

1.22%

Graham Number

$77.86

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 16.5x earnings, HES trades at a reasonable valuation. Graham's intrinsic value formula yields $77.86 per share, 91% below the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.599

NI / EBT

Interest Burden

0.905

EBT / EBIT

EBIT Margin

0.330

EBIT / Rev

Asset Turnover

0.481

Rev / Assets

Equity Multiplier

2.424

Assets / Equity

ROE

20.8%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. HES's ROE of 20.8% is driven by Asset Turnover (0.481), indicating efficient use of assets to generate revenue. A tax burden ratio of 0.60 suggests the company retains less than 60% of pre-tax earnings after taxes.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

15.00%

Fair P/E

38.50x

Intrinsic Value

$277.83

Price/Value

0.57x

Margin of Safety

42.71%

Premium

-42.71%

Assessment

Neutral

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with HES's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. HES actually compounded EPS at 45.8% over three years; the model uses 15%, the highest rate it will extrapolate — of 4,457 company-quarters that grew faster than 200%, none sustained it over the following seven years. HES trades at a -43% premium to its adjusted intrinsic value of $277.83, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 38.5x compares to the current market P/E of 16.5x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$148.97

Median 1Y

$153.02

5th Pctile

$71.63

95th Pctile

$330.10

Ann. Volatility

45.9%

25th–75th percentile 5th–95th percentile Median path Historical

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q2'20	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Current
ROE	-40.5%	-43.4%	-43.9%	-6.4%	-2.7%	3.4%	9.6%	12.1%	23.2%	28.3%	29.6%	28.0%	19.2%	18.1%	16.4%	22.3%	28.2%	27.1%	27.4%	20.8%	20.82%
ROA	-15.4%	-15.9%	-15.2%	-2.1%	-0.8%	1.0%	2.8%	3.7%	7.3%	9.1%	9.9%	9.7%	6.8%	6.5%	6.0%	8.6%	11.0%	10.7%	11.0%	8.6%	8.59%
ROIC	-1.5%	-2.6%	-2.4%	-5.3%	2.0%	4.9%	7.9%	9.3%	13.7%	17.7%	19.9%	18.3%	15.0%	14.2%	12.3%	15.1%	17.9%	18.1%	20.3%	17.0%	16.96%
ROCE	-13.4%	-14.3%	-13.9%	3.0%	5.6%	8.5%	11.1%	12.2%	16.4%	19.0%	20.6%	20.1%	16.3%	15.6%	14.2%	17.2%	19.8%	19.5%	20.1%	16.9%	16.93%
Gross Margin	1.7%	25.8%	37.1%	63.2%	52.9%	58.8%	65.9%	69.3%	72.5%	69.9%	67.8%	77.6%	76.3%	63.3%	81.1%	49.0%	41.3%	78.1%	76.3%	41.5%	41.52%
Operating Margin	-19.4%	-6.6%	5.1%	23.1%	24.1%	15.7%	26.7%	34.7%	40.6%	34.2%	36.0%	28.4%	24.9%	33.3%	26.3%	45.2%	37.7%	34.2%	53.7%	26.6%	26.58%
Net Margin	-38.4%	-21.0%	-7.3%	13.3%	-4.6%	6.5%	11.8%	18.0%	22.6%	16.5%	16.9%	14.4%	5.2%	18.0%	14.0%	29.4%	23.6%	15.6%	17.3%	14.6%	14.64%
EBITDA Margin	42.6%	39.5%	49.1%	51.3%	41.0%	45.7%	48.4%	49.3%	53.9%	47.5%	55.8%	50.5%	45.7%	51.3%	46.0%	63.0%	58.0%	50.2%	52.4%	50.8%	50.78%
FCF Margin	-27.4%	-30.1%	-18.5%	-5.5%	7.7%	13.2%	15.3%	3.0%	7.0%	10.8%	10.8%	15.1%	9.6%	3.8%	-1.6%	-0.3%	4.5%	7.9%	5.1%	8.9%	8.94%
OCF Margin	26.4%	22.5%	28.6%	28.4%	33.5%	37.8%	38.7%	27.2%	30.9%	33.8%	34.8%	41.5%	39.1%	36.9%	37.7%	36.9%	41.7%	44.5%	43.6%	49.0%	49.04%
ROE 3Y Avg	snapshot only																				21.53%
ROE 5Y Avg	snapshot only																				13.76%
ROA 3Y Avg	snapshot only																				8.52%
ROIC 3Y Avg	snapshot only																				11.24%
ROIC Economic	snapshot only																				16.08%
Cash ROA	snapshot only																				22.54%
Cash ROIC	snapshot only																				31.05%
CROIC	snapshot only																				5.66%
NOPAT Margin	snapshot only																				26.78%
Pretax Margin	snapshot only																				29.83%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				25.78%
SBC / Revenue	snapshot only																				0.83%

Valuation

Metric	Q2'20	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Current
P/E Ratio	-4.64	-3.64	-4.94	-50.54	-158.33	117.05	39.24	44.15	21.65	17.44	20.18	19.50	27.58	31.37	31.47	23.00	16.94	15.69	14.72	22.06	16.516
P/S Ratio	2.71	2.33	3.28	3.96	4.28	3.52	2.94	4.05	3.42	3.06	3.74	3.46	3.79	4.41	4.16	4.07	3.66	3.27	3.17	3.94	3.573
P/B Ratio	2.31	1.98	2.85	3.67	4.64	4.11	3.48	5.07	4.44	4.30	5.38	4.86	4.92	5.33	4.84	4.68	4.28	3.83	3.63	4.26	4.076
P/FCF	-9.90	-7.74	-17.69	-72.35	55.66	26.66	19.19	136.03	48.69	28.26	34.70	22.94	39.58	117.02	-262.01	-1184.23	81.51	41.51	62.31	44.05	44.054
P/OCF	10.25	10.35	11.47	13.94	12.76	9.31	7.59	14.92	11.06	9.05	10.72	8.34	9.69	11.95	11.03	11.03	8.78	7.36	7.28	8.03	8.031
EV/EBITDA	-102.35	-56.85	-73.22	11.41	11.74	9.71	8.09	10.67	8.36	7.39	8.36	7.86	8.87	9.98	10.16	9.18	7.82	7.11	6.82	8.68	8.685
EV/Revenue	4.04	3.85	4.85	5.33	5.37	4.55	3.80	4.97	4.17	3.69	4.32	4.08	4.44	5.11	4.92	4.79	4.30	3.88	3.82	4.59	4.594
EV/EBIT	-9.12	-7.71	-9.50	52.80	34.34	21.08	14.61	18.39	12.53	10.67	12.30	11.83	14.81	16.93	17.43	14.50	11.67	10.80	10.29	13.94	13.937
EV/FCF	-14.76	-12.79	-26.18	-97.45	69.88	34.51	24.82	166.89	59.34	34.07	40.16	27.07	46.42	135.56	-309.66	-1394.62	95.80	49.17	74.99	51.38	51.385
Earnings Yield	-21.6%	-27.4%	-20.2%	-2.0%	-0.6%	0.9%	2.5%	2.3%	4.6%	5.7%	5.0%	5.1%	3.6%	3.2%	3.2%	4.3%	5.9%	6.4%	6.8%	4.5%	4.53%
FCF Yield	-10.1%	-12.9%	-5.7%	-1.4%	1.8%	3.8%	5.2%	0.7%	2.1%	3.5%	2.9%	4.4%	2.5%	0.9%	-0.4%	-0.1%	1.2%	2.4%	1.6%	2.3%	2.27%
PEG Ratio	snapshot only																				0.975
Price/Tangible Book	snapshot only																				4.401
EV/OCF	snapshot only																				9.368
EV/Gross Profit	snapshot only																				7.711
Acquirers Multiple	snapshot only																				12.021
Shareholder Yield	snapshot only																				1.22%
Graham Number	snapshot only																				$77.86

Leverage & Solvency

Metric	Q2'20	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Current
Current Ratio	1.99	2.20	1.90	2.08	1.57	1.42	1.42	1.42	1.69	1.78	1.64	1.65	1.54	1.31	1.05	1.23	1.27	1.26	1.12	1.08	1.079
Quick Ratio	1.76	1.90	1.67	1.95	1.48	1.32	1.35	1.31	1.55	1.66	1.55	1.55	1.43	1.20	0.96	1.10	1.14	1.13	0.97	0.91	0.914
Debt/Equity	1.39	1.51	1.69	1.61	1.63	1.64	1.45	1.37	1.27	1.20	1.16	1.13	1.12	1.08	1.07	0.98	0.94	0.88	0.84	0.82	0.824
Net Debt/Equity	1.13	1.29	1.37	1.27	1.19	1.21	1.02	1.15	0.97	0.88	0.85	0.88	0.85	0.84	0.88	0.83	0.75	0.71	0.74	0.71	0.709
Debt/Assets	0.46	0.47	0.48	0.48	0.47	0.47	0.45	0.44	0.43	0.42	0.42	0.42	0.42	0.40	0.40	0.39	0.38	0.36	0.36	0.35	0.350
Debt/EBITDA	-41.38	-26.23	-29.37	3.70	3.28	3.00	2.61	2.35	1.97	1.71	1.56	1.55	1.72	1.74	1.90	1.63	1.47	1.38	1.32	1.44	1.440
Net Debt/EBITDA	-33.72	-22.46	-23.74	2.94	2.39	2.21	1.83	1.97	1.50	1.26	1.14	1.20	1.31	1.36	1.56	1.38	1.17	1.11	1.15	1.24	1.239
Interest Coverage	-5.79	-5.65	-5.09	1.11	1.98	2.96	4.04	4.38	6.29	7.49	8.08	7.99	6.53	6.47	6.17	8.01	9.99	10.45	11.57	10.51	10.514
Equity Multiplier	3.06	3.21	3.51	3.37	3.49	3.47	3.26	3.14	2.97	2.86	2.76	2.70	2.69	2.69	2.67	2.50	2.46	2.42	2.37	2.36	2.356
Cash Ratio	snapshot only																				0.465
Debt Service Coverage	snapshot only																				16.872
Cash to Debt	snapshot only																				0.139
FCF to Debt	snapshot only																				0.117
Defensive Interval	snapshot only																				226.9 days

Efficiency & Turnover

Metric	Q2'20	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Current
Asset Turnover	0.26	0.25	0.23	0.26	0.31	0.34	0.38	0.41	0.46	0.52	0.54	0.55	0.50	0.47	0.46	0.49	0.51	0.51	0.51	0.48	0.481
Inventory Turnover	11.41	10.09	10.69	14.29	10.43	8.76	9.75	12.74	10.80	11.96	15.50	13.72	9.97	9.99	10.24	12.49	15.61	13.22	13.86	11.81	11.808
Receivables Turnover	6.58	5.52	4.60	5.77	7.46	7.31	7.22	6.22	7.69	8.61	9.54	8.36	8.87	7.36	8.39	7.84	10.51	9.04	9.17	8.79	8.789
Payables Turnover	11.03	12.04	11.18	10.64	12.92	14.62	13.95	12.16	11.22	12.16	13.50	9.87	8.37	8.17	7.77	10.21	13.14	11.81	12.23	12.00	12.005
DSO	55	66	79	63	49	50	51	59	47	42	38	44	41	50	44	47	35	40	40	42	41.5 days
DIO	32	36	34	26	35	42	37	29	34	31	24	27	37	37	36	29	23	28	26	31	30.9 days
DPO	33	30	33	34	28	25	26	30	33	30	27	37	44	45	47	36	28	31	30	30	30.4 days
Cash Conversion Cycle	54	72	81	54	56	67	62	57	49	43	35	33	34	41	32	40	30	37	36	42	42.0 days
Fixed Asset Turnover	snapshot only																				0.591
Operating Cycle	snapshot only																				82.3 days
Cash Velocity	snapshot only																				9.420
Capital Intensity	snapshot only																				2.176

Growth (YoY)

Metric	Q2'20	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Current
Revenue	-18.4%	-22.2%	-28.1%	-17.0%	9.3%	30.4%	60.1%	51.4%	55.5%	62.1%	51.5%	44.8%	16.1%	-1.8%	-7.7%	-0.6%	14.0%	21.3%	22.9%	9.9%	9.90%
Net Income	-44.0%	-16.6%	-6.7%	85.8%	94.9%	1.1%	1.2%	2.8%	10.1%	8.5%	2.7%	1.8%	0.9%	-21.4%	-34.1%	-0.8%	79.1%	80.1%	1.0%	10.9%	10.91%
EPS	-43.6%	-16.4%	-6.7%	85.9%	95.0%	1.1%	1.2%	2.8%	10.0%	8.5%	2.8%	1.8%	2.0%	-21.0%	-34.0%	-1.0%	78.7%	79.7%	100.0%	10.7%	10.65%
FCF	-3.7%	-2.5%	27.2%	74.7%	1.3%	1.6%	2.3%	1.8%	42.1%	32.9%	6.6%	6.3%	58.1%	-65.8%	-1.1%	-1.0%	-46.6%	1.5%	4.9%	29.6%	29.59%
EBITDA	-1.1%	-1.1%	-1.1%	12.0%	13.7%	10.0%	12.3%	50.9%	69.4%	72.4%	66.9%	61.4%	16.5%	0.7%	-13.6%	-0.1%	25.1%	29.3%	42.1%	11.3%	11.32%
Op. Income	-1.4%	-1.7%	-1.8%	1.1%	4.1%	3.6%	5.3%	6.7%	2.6%	2.2%	1.4%	94.8%	17.4%	-11.6%	-28.2%	-5.9%	30.6%	40.9%	85.0%	26.3%	26.29%
OCF Growth	snapshot only																				46.00%
Asset Growth	snapshot only																				9.79%
Equity Growth	snapshot only																				16.75%
Debt Growth	snapshot only																				-1.50%
Shares Change	snapshot only																				0.23%
Dividend Growth	snapshot only																				10.88%

Growth (CAGR)

Metric	Q2'20	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Current
Revenue 3Y	2.5%	-1.4%	-5.5%	-2.3%	0.2%	1.1%	5.7%	6.4%	11.5%	18.0%	20.4%	22.1%	25.4%	27.5%	30.8%	29.6%	27.2%	24.5%	19.8%	16.5%	16.50%
Revenue 5Y	-9.1%	-8.2%	-6.8%	-3.0%	2.2%	6.2%	9.4%	9.3%	12.9%	15.1%	15.4%	15.3%	12.7%	10.5%	10.6%	11.6%	12.9%	14.4%	14.6%	14.7%	14.72%
EPS 3Y	—	—	—	—	—	—	—	—	1.7%	—	—	—	—	—	—	—	—	1.4%	70.7%	45.8%	45.85%
EPS 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.0%	—	—	—	—
Net Income 3Y	—	—	—	—	—	—	—	—	1.7%	—	—	—	—	—	—	—	—	1.4%	70.5%	45.4%	45.43%
Net Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.0%	—	—	—	—
EBITDA 3Y	—	—	—	—	—	1.1%	11.4%	9.8%	15.9%	23.1%	29.1%	2.2%	—	—	—	34.5%	35.2%	31.0%	27.0%	21.5%	21.54%
EBITDA 5Y	—	—	—	—	—	—	45.2%	31.1%	31.8%	—	—	—	—	75.2%	14.8%	16.4%	17.8%	19.5%	21.4%	1.0%	1.04%
Gross Profit 3Y	—	—	—	2.1%	69.8%	28.0%	24.9%	20.1%	22.8%	34.3%	38.9%	46.0%	62.7%	72.4%	83.9%	55.5%	36.0%	30.0%	19.9%	14.5%	14.53%
Gross Profit 5Y	6.7%	49.2%	—	—	—	—	—	—	—	—	—	1.6%	68.3%	34.2%	27.3%	21.4%	16.0%	20.7%	21.6%	23.1%	23.08%
Op. Income 3Y	—	—	—	—	—	1.5%	47.4%	52.8%	61.4%	82.7%	1.0%	2.2%	—	—	—	1.4%	76.0%	57.8%	47.9%	32.3%	32.30%
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	1.1%	41.1%	45.6%	45.2%	50.0%	62.2%	1.1%	1.07%
FCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	6.3%	4.9%	-17.0%	68.0%	68.04%
FCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 3Y	7.1%	6.9%	12.2%	22.4%	23.3%	20.9%	14.2%	2.9%	8.9%	17.1%	33.9%	36.8%	42.9%	50.3%	43.5%	41.5%	36.7%	31.5%	24.7%	41.8%	41.85%
OCF 5Y	-15.3%	-12.8%	-5.9%	1.3%	13.9%	17.8%	29.5%	12.2%	19.6%	31.1%	33.1%	42.5%	31.6%	22.4%	15.2%	16.3%	18.2%	20.3%	27.8%	27.0%	27.03%
Assets 3Y	-11.1%	-10.7%	-6.6%	-5.0%	-3.7%	-3.2%	-1.4%	-3.0%	-0.8%	0.0%	-0.1%	1.9%	4.4%	6.9%	8.5%	9.3%	10.4%	10.4%	9.0%	11.1%	11.08%
Assets 5Y	-11.3%	-12.2%	-11.2%	-11.4%	-11.0%	-10.8%	-6.4%	-6.8%	-5.3%	-4.0%	-1.3%	-0.1%	0.7%	1.6%	2.3%	2.6%	3.5%	3.9%	4.0%	5.5%	5.55%
Equity 3Y	-22.6%	-23.3%	-21.4%	-19.1%	-18.1%	-16.8%	-13.2%	-12.3%	-8.4%	-5.4%	-3.5%	4.1%	9.0%	13.4%	18.8%	20.7%	24.1%	24.5%	21.2%	22.2%	22.24%
Book Value 3Y	-21.8%	-22.6%	-20.7%	-18.9%	-18.9%	-18.2%	-14.9%	-13.4%	-9.3%	-6.0%	-3.8%	3.8%	8.7%	13.1%	18.6%	20.7%	24.0%	24.7%	21.4%	22.6%	22.59%
Dividend 3Y	-1.5%	-0.7%	0.1%	0.1%	-1.1%	-1.5%	-1.8%	3.0%	7.0%	10.5%	14.0%	10.9%	8.5%	6.5%	4.9%	3.7%	2.4%	2.6%	2.6%	3.9%	3.88%

Growth Quality

Metric	Q2'20	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Current
Revenue Stability	0.43	0.48	0.33	0.08	0.10	0.23	0.28	0.38	0.50	0.51	0.51	0.59	0.67	0.60	0.60	0.67	0.79	0.83	0.85	0.91	0.907
Earnings Stability	0.01	0.00	0.25	0.42	0.38	0.41	0.54	0.71	0.71	0.73	0.49	0.68	0.61	0.60	0.32	0.58	0.56	0.58	0.61	0.84	0.839
Margin Stability	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.05	0.09	0.13	0.25	0.37	0.44	0.57	0.61	0.74	0.82	0.83	0.82	0.81	0.813
Rev. Growth Consistency	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	1.00	0.50	0.50	0.50	0.500
Earn. Growth Consistency	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	1.00	0.50	0.50	0.50	0.500
FCF Positive Streak	0	0	0	0	0	0	0	0	1	1	1	1	1	1	0	0	1	1	0	0	0
Earnings Persistence	0.20	0.50	0.50	0.50	0.50	0.20	0.20	0.20	0.20	0.50	0.50	0.50	0.50	0.91	0.86	1.00	0.50	0.50	0.50	0.96	0.956
Earnings Smoothness	—	—	—	—	—	—	—	—	—	0.00	0.00	0.05	0.99	0.76	0.59	0.99	0.43	0.43	0.33	0.90	0.897
ROE Trend	-0.32	-0.39	-0.54	0.13	0.22	0.32	0.40	0.35	0.47	0.50	0.51	0.23	0.09	0.03	-0.02	0.02	0.06	0.04	0.04	-0.03	-0.033
Gross Margin Trend	0.03	-0.08	-0.14	-0.04	0.05	0.16	0.25	0.23	0.27	0.28	0.26	0.21	0.15	0.09	0.09	-0.01	-0.12	-0.08	-0.11	-0.09	-0.094
FCF Margin Trend	-0.17	-0.22	-0.08	0.07	0.24	0.32	0.34	0.15	0.17	0.19	0.12	0.16	0.02	-0.08	-0.15	-0.09	-0.04	0.01	0.01	0.02	0.016
Sustainable Growth Rate	—	—	—	—	—	-2.0%	4.3%	6.3%	17.0%	21.8%	23.0%	21.4%	12.7%	11.7%	10.0%	16.3%	22.5%	21.4%	21.7%	15.2%	15.22%
Internal Growth Rate	—	—	—	—	—	—	1.3%	2.0%	5.6%	7.5%	8.4%	8.0%	4.7%	4.4%	3.8%	6.7%	9.6%	9.2%	9.5%	6.7%	6.70%

Cash Flow Quality

Metric	Q2'20	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Current
OCF/Net Income	-0.45	-0.35	-0.43	-3.62	-12.41	12.57	5.17	2.96	1.96	1.93	1.88	2.34	2.85	2.63	2.85	2.09	1.93	2.13	2.02	2.75	2.746
FCF/OCF	-1.04	-1.34	-0.65	-0.19	0.23	0.35	0.40	0.11	0.23	0.32	0.31	0.36	0.24	0.10	-0.04	-0.01	0.11	0.18	0.12	0.18	0.182
FCF/Net Income	snapshot only																				0.501
OCF/EBITDA	snapshot only																				0.927
CapEx/Revenue	53.8%	52.7%	47.1%	33.9%	25.9%	24.6%	23.4%	24.2%	23.9%	23.0%	24.1%	26.4%	29.5%	33.1%	39.3%	37.3%	37.2%	36.6%	38.5%	40.1%	40.10%
CapEx/Depreciation	snapshot only																				2.012
Accruals Ratio	-0.22	-0.21	-0.22	-0.10	-0.11	-0.12	-0.12	-0.07	-0.07	-0.08	-0.09	-0.13	-0.13	-0.11	-0.11	-0.09	-0.10	-0.12	-0.11	-0.15	-0.150
Sloan Accruals	snapshot only																				-0.113
Cash Flow Adequacy	snapshot only																				1.092
Earnings Quality Score	snapshot only																				0.750

Dividends & Buybacks

Metric	Q2'20	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Current
Dividend Yield	2.1%	2.6%	2.0%	1.5%	1.2%	1.3%	1.4%	1.1%	1.2%	1.3%	1.1%	1.2%	1.2%	1.1%	1.2%	1.2%	1.2%	1.3%	1.4%	1.2%	1.34%
Dividend/Share	$1.01	$1.01	$1.01	$1.00	$1.00	$1.00	$1.00	$1.12	$1.25	$1.38	$1.51	$1.57	$1.63	$1.69	$1.75	$1.75	$1.75	$1.81	$1.88	$1.94	$2.00
Payout Ratio	—	—	—	—	—	1.6%	55.6%	48.3%	26.6%	22.9%	22.2%	23.9%	33.9%	35.5%	39.0%	26.8%	20.4%	21.2%	20.9%	26.9%	26.90%
FCF Payout Ratio	—	—	—	—	67.5%	35.8%	27.2%	1.5%	59.8%	37.1%	38.1%	28.0%	48.7%	1.3%	—	—	98.0%	56.0%	88.5%	53.7%	53.72%
Total Payout Ratio	—	—	—	—	—	1.6%	55.6%	48.3%	39.5%	41.1%	52.2%	56.0%	65.1%	56.6%	45.7%	30.4%	23.1%	23.9%	20.9%	26.9%	26.90%
Div. Increase Streak	0	0	0	0	0	0	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1
Chowder Number	-0.05	-0.02	-0.00	0.01	0.01	0.02	0.02	0.15	0.27	0.39	0.51	0.39	0.30	0.23	0.17	0.13	0.09	0.09	0.09	0.12	0.124
Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.6%	1.0%	1.5%	1.6%	1.1%	0.7%	0.2%	0.2%	0.2%	0.2%	0.0%	0.0%	0.00%
Net Buyback Yield	0.0%	0.0%	0.0%	-0.3%	-0.6%	-0.6%	-1.2%	-0.7%	-0.3%	0.2%	1.1%	1.3%	0.7%	0.3%	0.2%	0.1%	-0.2%	-0.3%	0.0%	-0.0%	-0.02%
Total Shareholder Return	2.1%	2.6%	2.0%	1.2%	0.6%	0.7%	0.3%	0.4%	0.9%	1.5%	2.2%	2.5%	1.9%	1.4%	1.4%	1.3%	1.0%	1.1%	1.4%	1.2%	1.20%

DuPont Factors

Metric	Q2'20	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Current
Tax Burden (NI/EBT)	1.13	1.09	1.09	-7.56	-0.35	0.20	0.38	0.42	0.55	0.58	0.57	0.57	0.52	0.52	0.56	0.61	0.65	0.64	0.64	0.60	0.599
Interest Burden (EBT/EBIT)	1.17	1.18	1.20	0.10	0.49	0.68	0.77	0.81	0.87	0.88	0.92	0.91	0.89	0.89	0.84	0.88	0.90	0.90	0.91	0.90	0.905
EBIT Margin	-0.44	-0.50	-0.51	0.10	0.16	0.22	0.26	0.27	0.33	0.35	0.35	0.35	0.30	0.30	0.28	0.33	0.37	0.36	0.37	0.33	0.330
Asset Turnover	0.26	0.25	0.23	0.26	0.31	0.34	0.38	0.41	0.46	0.52	0.54	0.55	0.50	0.47	0.46	0.49	0.51	0.51	0.51	0.48	0.481
Equity Multiplier	2.63	2.74	2.88	3.10	3.26	3.34	3.37	3.25	3.20	3.12	2.98	2.89	2.82	2.77	2.71	2.59	2.56	2.54	2.50	2.42	2.424

Per Share

Metric	Q2'20	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Current
EPS (Diluted TTM)	$-10.43	$-10.55	$-10.08	$-1.33	$-0.52	$0.64	$1.80	$2.33	$4.71	$6.03	$6.80	$6.59	$4.80	$4.76	$4.49	$6.52	$8.58	$8.56	$8.98	$7.22	$7.22
Book Value/Share	$20.97	$19.40	$17.48	$18.25	$17.85	$18.10	$20.32	$20.27	$22.95	$24.47	$25.49	$26.47	$26.90	$28.05	$29.18	$32.05	$34.02	$35.10	$36.36	$37.33	$39.11
Tangible Book/Share	$19.79	$18.22	$16.31	$17.08	$16.68	$16.94	$19.16	$19.11	$21.79	$23.31	$24.33	$25.29	$25.73	$26.88	$28.02	$30.88	$32.85	$33.93	$35.19	$36.17	$36.17
Revenue/Share	$17.87	$16.49	$15.20	$16.93	$19.37	$21.16	$24.11	$25.34	$29.80	$34.40	$36.75	$37.17	$34.98	$33.91	$33.94	$36.86	$39.77	$41.04	$41.63	$40.41	$42.02
FCF/Share	$-4.89	$-4.97	$-2.81	$-0.93	$1.49	$2.79	$3.69	$0.75	$2.09	$3.72	$3.96	$5.60	$3.35	$1.28	$-0.54	$-0.13	$1.78	$3.24	$2.12	$3.61	$2.13
OCF/Share	$4.72	$3.71	$4.34	$4.81	$6.50	$7.99	$9.32	$6.88	$9.22	$11.63	$12.80	$15.42	$13.67	$12.51	$12.80	$13.61	$16.57	$18.27	$18.15	$19.82	$18.25
Cash/Share	$5.40	$4.21	$5.66	$6.06	$7.90	$7.81	$8.75	$4.40	$6.94	$7.72	$8.07	$6.83	$7.24	$6.56	$5.48	$4.67	$6.57	$6.05	$3.80	$4.29	$3.82
EBITDA/Share	$-0.70	$-1.12	$-1.01	$7.91	$8.87	$9.92	$11.31	$11.80	$14.86	$17.15	$19.00	$19.30	$17.51	$17.35	$16.43	$19.25	$21.85	$22.39	$23.31	$21.38	$21.38
Debt/Share	$29.17	$29.33	$29.56	$29.31	$29.09	$29.72	$29.49	$27.70	$29.25	$29.36	$29.70	$30.00	$30.13	$30.23	$31.17	$31.32	$32.06	$30.85	$30.66	$30.78	$30.78
Net Debt/Share	$23.77	$25.11	$23.90	$23.25	$21.18	$21.91	$20.74	$23.30	$22.30	$21.64	$21.63	$23.17	$22.89	$23.68	$25.69	$26.65	$25.49	$24.80	$26.87	$26.49	$26.49

Academic Models

Metric	Q2'20	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	3.213
Altman Z-Prime	snapshot only																				5.140
Piotroski F-Score	3	3	3	4	5	6	7	7	8	9	9	9	7	5	6	4	6	7	7	6	6
Beneish M-Score	11.50	-3.47	-3.76	-2.92	-2.93	-2.87	-2.66	-2.26	-2.14	-2.30	-2.73	-3.17	-3.25	-2.72	-2.83	-2.12	-2.09	-3.08	-2.82	-3.36	-3.359
Ohlson O-Score	snapshot only																				-8.742
ROIC (Greenblatt)	snapshot only																				19.27%
Net-Net WC	snapshot only																				$-37.84
EVA	snapshot only																				$1370543548.39

Credit

Metric	Q2'20	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Current
Credit Rating	snapshot only																				A+
Credit Score	35.68	37.34	34.34	42.63	42.06	44.97	48.88	52.61	60.79	68.62	74.74	75.81	68.24	70.15	61.65	73.45	75.04	79.02	75.67	77.31	77.313
Credit Grade	snapshot only																				5
Credit Trend	snapshot only																				3.868
Implied Spread (bps)	snapshot only																				125.000
Industry Credit Rank	snapshot only																				79
Sector Credit Rank	snapshot only																				76

HES NYSE

Edge Score

Analyst Insights

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

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