HESM NYSE
Hess Midstream LP
1W: +3.1%
1M: -18.5%
3M: -20.4%
YTD: -8.1%
1Y: -5.5%
3Y: +20.6%
5Y: +63.4%
$31.67
+0.49 (+1.57%)
After Hours: $31.75 (+0.08, +0.25%)
Weekly Expected Move ±8.5%
$25
$28
$31
$33
$36
Credit Risk of going bust: lower than 67% of companies Debt: 36.4% of company value Bonds: $382.5M held by 325 funds, 122 bp over Treasuries → details ▾
Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.95 (down 97%), Hess Midstream LP would be worth roughly what it owes.
Total debt $3.68B against a stock market value of $6.43B.
Distance to default 7.11 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $1.86B (short-term plus half of long-term), stock volatility 27.0%; Altman Z'' 1.66. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $0.95 (down 97%), Hess Midstream LP would be worth roughly what it owes.
Total debt $3.68B against a stock market value of $6.43B.
Distance to default 7.11 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $1.86B (short-term plus half of long-term), stock volatility 27.0%; Altman Z'' 1.66. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Cash Flow Trends
Operating Cash Flow
$984M
+4.6% ▲
5Y CAGR: +8.9%
Capital Expenditures
$256M
+16.5% ▲
5Y CAGR: -3.2%
Free Cash Flow
$728M
+14.8% ▲
5Y CAGR: +16.4%
Dividends Paid
$350M
-48.8% ▼
Buybacks
$400M
-33.3% ▼
Net Change in Cash
-$2M
-118.2% ▼
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | $618M | $621M | $119M | $659M | $353M |
| Depreciation & Amort. | $166M | $181M | $192M | $203M | $214M |
| Stock-Based Comp. | $1M | $2M | $2M | $2M | $0 |
| Change in Working Capital | -$18M | $14M | $14M | -$8M | -$50M |
| Other Non-Cash Items | $14M | $16M | $501M | $13M | $353M |
| Operating Cash Flow | $796M | $861M | $866M | $940M | $984M |
| — Investing Activities — | |||||
| Capital Expenditures | -$163M | -$238M | -$224M | -$306M | -$256M |
| Acquisitions (Net) | $0 | $0 | $0 | $0 | $0 |
| Investment Purchases | $0 | $0 | $0 | $0 | $0 |
| Investment Sales | $0 | $0 | $0 | $0 | $0 |
| Other Investing | $0 | $0 | $0 | $0 | $0 |
| Investing Cash Flow | -$163M | -$238M | -$224M | -$306M | -$256M |
| — Financing Activities — | |||||
| Net Debt Issuance | $660M | $324M | $320M | $262M | $288M |
| Stock Repurchased | -$750M | -$400M | -$400M | -$300M | -$400M |
| Dividends Paid | -$49M | -$91M | -$128M | -$235M | -$350M |
| Other Financing | -$493M | -$455M | -$433M | -$362M | -$268M |
| Financing Cash Flow | -$633M | -$622M | -$641M | -$635M | -$731M |
| Net Change in Cash | -$400K | $900K | $2M | -$1M | -$2M |
| Cash End of Period | $2M | $3M | $5M | $4M | $2M |
| Free Cash Flow | $632M | $623M | $643M | $634M | $728M |