Company Valuation: Hess Midstream LP

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 930.1 1,317 2,162 3,854 4,464 4,909 - -
Change - 41.55% 64.23% 78.24% 15.84% 9.98% - -
Enterprise Value (EV) 1 3,491 4,199 5,368 7,321 8,234 8,497 8,341 8,230
Change - 20.27% 27.84% 36.38% 12.47% 3.2% -1.83% -1.33%
P/E 15.7x 14.9x 15.2x 14.9x 12.1x 13.6x 13x 12.5x
PBR 34.3x 29.3x 21x 15.2x 12.6x 15.7x 16.5x 16.9x
PEG - 1x 4.36x 0.8x 0.8x -9.1x 3.03x 3.03x
Capitalization / Revenue 0.77x 1.03x 1.6x 2.58x 2.75x 3.05x 2.94x 2.84x
EV / Revenue 2.9x 3.29x 3.98x 4.9x 5.08x 5.28x 4.99x 4.76x
EV / EBITDA 3.84x 4.27x 5.25x 6.44x 6.65x 6.82x 6.47x 6.23x
EV / EBIT 4.8x 5.31x 6.57x 7.97x 8.17x 8.46x 7.92x 7.54x
EV / FCF 5.98x 6.74x 8.65x 11.2x 10.6x 9.43x 8.91x 8.69x
FCF Yield 16.7% 14.8% 11.6% 8.95% 9.46% 10.6% 11.2% 11.5%
Dividend per Share 2 1.984 2.237 2.438 2.705 2.966 3.179 3.372 3.543
Rate of return 7.18% 7.48% 7.71% 7.31% 8.6% 8.31% 8.82% 9.26%
EPS 2 1.76 2.01 2.08 2.49 2.86 2.817 2.938 3.06
Distribution rate 113% 111% 117% 109% 104% 113% 115% 116%
Net sales 1 1,204 1,275 1,349 1,496 1,621 1,611 1,670 1,729
EBITDA 1 908.5 982.9 1,022 1,136 1,238 1,246 1,290 1,321
EBIT 1 727.2 791.2 816.9 919 1,008 1,005 1,053 1,092
Net income 1 46.4 83.9 118.6 223.1 352.9 379.9 398.7 427.3
Net Debt 1 2,561 2,882 3,206 3,468 3,770 3,588 3,432 3,321
Reference price 2 27.63 29.92 31.63 37.03 34.50 38.25 38.25 38.25
Nbr of stocks (in thousands) 33,663 44,003 68,358 104,071 129,392 128,351 - -
Announcement Date 1/26/22 1/25/23 1/31/24 1/29/25 2/2/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.66x5.29x6.84x8.26% 4.94B
23.4x3.21x12.94x5.8% 106B
28.51x9.72x14.04x2.99% 86.33B
12.39x1.79x10.36x6.02% 80.48B
11.86x1.12x7.23x6.74% 70B
20.11x5.57x11.24x3.81% 69.59B
22.77x9.27x12.48x4.16% 62.06B
25.14x4.27x13.56x1.76% 60.72B
13.42x6.4x11.55x7.85% 58.78B
15.81x2.09x10.31x4.72% 57.48B
Average 18.71x 4.87x 11.05x 5.21% 65.59B
Weighted average by Cap. 19.61x 4.79x 11.59x 4.92%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

  1. Stock Market
  2. Stocks
  3. HESM Stock
  4. Valuation Hess Midstream LP