Hess Midstream Lp - Understand $hesm stock

$HESM Market Cap: $8.094 Billion

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Financial Snapshot

Revenue

$1.456B

TTM

Gross Margin

Net Earnings

$190.2M

TTM

Current Assets

$154.2M

Q3 2024

Current Liabilities

$220.9M

Q3 2024

Current Ratio

69.81%

Q3 2024

Total Assets

$4.147B

Q3 2024

Total Liabilities

$3.705B

Q3 2024

Book Value

$441.8M

Q3 2024

Cash

$10.30M

Q3 2024

P/E

42.56

Nov 29, 2024 EST

Free Cash Flow

$654.9M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Revenue	$1.349B	$1.275B	$1.204B	$1.092B	$848.3M	$712.7M	$579.5M	$509.8M	$565.1M	$254.8M	$269.7M
YoY Change	5.76%	5.93%	10.25%	28.72%	19.03%	22.99%	13.67%	-9.79%	121.78%	-5.52%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Revenue	$1.349B	$1.275B	$1.204B	$1.092B	$848.3M	$712.7M	$579.5M	$509.8M	$565.1M	$254.8M	$269.7M
Cost Of Revenue										$0.00	$190.3M
Gross Profit										$254.8M	$79.40M
Gross Profit Margin										100.0%	29.44%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Selling, General & Admin	$339.2M	$302.7M	$311.0M	$358.5M	$329.2M	$207.6M	$199.9M	$203.8M	$284.1M	$175.6M	$230.7M
YoY Change	12.06%	-2.67%	-13.25%	8.9%	58.57%	3.85%	-1.91%	-28.26%	61.79%	-23.88%
% of Gross Profit										68.92%	290.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$192.5M	$181.3M	$165.6M	$156.9M	$142.5M	$126.9M	$116.5M	$99.70M	$86.10M	$44.40M	$12.50M
YoY Change	6.18%	9.48%	5.54%	10.11%	12.29%	8.93%	16.85%	15.8%	93.92%	255.2%
% of Gross Profit										17.43%	15.74%
Operating Expenses	$531.7M	$484.0M	$476.6M	$515.4M	$471.7M	$334.5M	$316.4M	$303.5M	$370.2M	$220.0M	$243.2M
YoY Change	9.86%	1.55%	-7.53%	9.26%	41.02%	5.72%	4.25%	-18.02%	68.27%	-9.54%
Operating Profit	$816.9M	$791.2M	$727.2M	$576.5M	$376.6M	$378.2M	$263.1M			$34.80M	-$163.8M
YoY Change	3.25%	8.8%	26.14%	53.08%	-0.42%	43.75%				-121.25%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Interest Expense	-$171.3M	-$144.0M	-$105.4M	-$94.70M	-$62.40M	-$53.30M	-$25.80M		-$1.500M	-$1.900M	$0.00
YoY Change	18.96%	36.62%	11.3%	51.76%	17.07%	106.59%			-21.05%
% of Operating Profit	-20.97%	-18.2%	-14.49%	-16.43%	-16.57%	-14.09%	-9.81%			-5.46%
Other Income/Expense, Net								$0.00
YoY Change

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Pretax Income	$645.6M	$647.2M	$632.4M	$492.2M	$317.6M	$325.5M	$242.0M	$206.3M	$193.4M	$32.90M	-$163.8M
YoY Change	-0.25%	2.34%	28.48%	54.97%	-2.43%	34.5%	17.3%	6.67%	487.84%	-120.09%
Income Tax	$37.90M	$26.60M	$14.60M	$7.300M	-$100.0K	$0.00	$0.00		$0.00	$0.00	$0.00
% Of Pretax Income	5.87%	4.11%	2.31%	1.48%	-0.03%	0.0%	0.0%		0.0%	0.0%
Net Earnings	$118.6M	$83.90M	$46.40M	$24.00M	$70.10M	$70.80M	$41.20M	$206.3M	$193.4M	$32.90M	-$163.8M
YoY Change	41.36%	80.82%	93.33%	-65.76%	-0.99%	71.84%	-80.03%	6.67%	487.84%	-120.09%
Net Earnings / Revenue	8.79%	6.58%	3.85%	2.2%	8.26%	9.93%	7.11%	40.47%	34.22%	12.91%	-60.73%
Basic Earnings Per Share
Diluted Earnings Per Share	$2.11	$2.027M	$1.805M	$1.326M	$1.279M	$1.294M	$765.8K	$3.778M	$3.542M	$602.6K	-$3.000M

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Cash & Short-Term Investments	$5.400M	$3.100M	$2.200M	$2.600M	$3.300M	$109.3M	$47.20M
YoY Change	74.19%	40.91%	-15.38%	-21.21%	-96.98%	131.57%
Cash & Equivalents	$5.400M	$3.100M	$2.200M	$2.600M	$3.300M	$109.3M	$47.20M
Short-Term Investments
Other Short-Term Assets	$7.000M	$6.200M	$10.60M	$5.600M	$4.700M	$3.300M	$4.400M	$2.400M	$3.100M	$1.000M	$0.00
YoY Change	12.9%	-41.51%	89.29%	19.15%	42.42%	-25.0%	83.33%	-22.58%	210.0%
Inventory								$0.00	$500.0K	$400.0K	$300.0K
Prepaid Expenses
Receivables	$124.4M	$123.0M	$120.3M	$93.20M	$87.60M	$67.30M	$59.80M	$44.60M	$50.50M	$33.40M	$8.300M
Other Receivables	$0.00	$0.00	$0.00	$0.00	$300.0K	$500.0K	$0.00	$400.0K	$1.400M	$3.500M	$0.00
Total Short-Term Assets	$136.8M	$132.3M	$133.1M	$101.4M	$95.90M	$180.4M	$111.4M	$47.40M	$55.50M	$38.30M	$8.600M
YoY Change	3.4%	-0.6%	31.26%	5.74%	-46.84%	61.94%	135.02%	-14.59%	44.91%	345.35%
Property, Plant & Equipment	$3.229B	$3.173B	$3.125B	$3.111B	$3.011B	$2.735B	$2.521B	$2.519B	$2.292B	$1.332B	$1.260B
YoY Change	1.78%	1.53%	0.44%	3.33%	10.08%	8.52%	0.08%	9.9%	72.02%	5.72%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$90.20M	$93.90M	$101.6M	$108.4M	$107.8M	$67.30M
YoY Change	-3.94%	-7.58%	-6.27%	0.56%	60.18%
Other Assets	$333.0M	$188.5M	$125.1M	$52.50M	$61.90M	$6.900M	$3.200M	$8.400M	$8.300M	$4.300M	$0.00
YoY Change	76.66%	50.68%	138.29%	-15.19%	797.1%	115.63%	-61.9%	1.2%	93.02%
Total Long-Term Assets	$3.653B	$3.456B	$3.353B	$3.273B	$3.182B	$2.811B	$2.524B	$2.527B	$2.300B	$1.337B	$1.260B
YoY Change	5.69%	3.08%	2.43%	2.87%	13.2%	11.38%	-0.13%	9.87%	72.09%	6.06%
Total Assets	$3.790B	$3.588B	$3.486B	$3.375B	$3.278B	$2.991B	$2.635B	$2.574B	$2.356B	$1.375B	$1.269B
YoY Change
Accounts Payable	$79.70M	$62.70M	$64.50M	$51.00M	$78.50M	$34.40M	$34.70M	$270.1M	$195.3M	$6.500M	$32.40M
YoY Change	27.11%	-2.79%	26.47%	-35.03%	128.2%	-0.86%	-87.15%	38.3%	2904.62%	-79.94%
Accrued Expenses	$117.4M	$82.90M	$76.20M	$54.10M	$88.90M	$85.60M	$32.70M	$57.80M	$52.00M	$71.30M	$131.1M
YoY Change	41.62%	8.79%	40.85%	-39.15%	3.86%	161.77%	-43.43%	11.15%	-27.07%	-45.61%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$12.50M	$2.500M	$20.00M	$10.00M	$0.00	$11.30M				$1.019B	$0.00
YoY Change	400.0%	-87.5%	100.0%		-100.0%
Total Short-Term Liabilities	$210.2M	$159.5M	$170.9M	$125.0M	$176.1M	$138.1M	$74.40M	$332.0M	$252.9M	$1.098B	$164.5M
YoY Change	31.79%	-6.67%	36.72%	-29.02%	27.52%	85.62%	-77.59%	31.28%	-76.97%	567.6%
Long-Term Debt	$3.199B	$2.883B	$2.544B	$1.900B	$1.754B	$969.8M	$0.00	$0.00	$0.00	$0.00	$833.1M
YoY Change	10.95%	13.35%	33.86%	8.36%	80.81%					-100.0%
Other Long-Term Liabilities	$16.70M	$16.10M	$17.70M	$23.40M	$16.00M	$7.200M	$5.400M	$4.300M	$5.100M	$1.000M	$800.0K
YoY Change	3.73%	-9.04%	-24.36%	46.25%	122.22%	33.33%	25.58%	-15.69%	410.0%	25.0%
Total Long-Term Liabilities	$3.216B	$2.899B	$2.561B	$1.924B	$1.770B	$977.0M	$5.400M	$4.300M	$5.100M	$1.000M	$833.9M
YoY Change	10.91%	13.2%	33.15%	8.7%	81.12%	17992.59%	25.58%	-15.69%	410.0%	-99.88%
Total Liabilities	$3.449B	$3.343B	$3.282B	$3.250B	$3.146B	$2.473B	$2.114B	$336.3M	$258.0M	$1.099B	$998.4M
YoY Change	3.18%	1.88%	0.98%	3.28%	27.21%	16.97%	528.69%	30.35%	-76.53%	10.1%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Basic Shares Outstanding
Diluted Shares Outstanding
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $8.0943 Billion

About Hess Midstream LP

Hess Midstream LP engages in the ownership, development, and acquisition of midstream assets to provide services to third-party crude oil and natural gas producers. The company is headquartered in Houston, Texas and currently employs 211 full-time employees. The company went IPO on 2017-04-05. The firm owns oil, gas and produces water handling assets that are primarily located in the Bakken and Three Forks Shale plays in North Dakota. The firm has three segments. The gathering segment includes Hess North Dakota Pipeline Operations LP and Hess Water Services Holdings LLC, which owns natural gas gathering and compression, crude oil gathering, and produces water gathering and disposal. The processing and storage segment includes Hess TGP Operations LP and Hess Mentor Storage Holdings LLC, which owns Tioga gas plant, an equity investment in LM Joint Venture and mentor storage terminal. The terminaling and export segment includes Hess North Dakota Export Logistics Operations LP, which owns Ramberg Terminal Facility, Tioga Rail Terminal, Crude Oil Rail Cars and Johnson’s Corner Header System.

Industry: Crude Petroleum & Natural Gas Peers: Kinetik Holdings Inc. Antero Midstream Corp DCP Midstream, LP DT Midstream, Inc. EnLink Midstream, LLC ENTERPRISE PRODUCTS PARTNERS L.P. New Fortress Energy Inc. PLAINS ALL AMERICAN PIPELINE LP Shell Midstream Partners, L.P. Western Midstream Partners, LP