Hess Midstream Partners LP (HESM) financial statements
Hess Midstream Partners LP reported revenue of $1.6B in fiscal 2025, up 13.7% a year over 8 years.
Net income was $353M and the operating margin 62.3%, against 45.4% in 2017.
Free cash flow was $728M, and the company returned $400M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Hess Midstream Partners LP's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $580M | $712M | $848M | $1.1B | $1.2B | $1.3B | $1.3B | $1.5B | $1.6B |
| Selling, general and admin | $14M | $14M | $52M | $21M | $23M | $23M | $26M | $26M | $28M |
| Operating income | $263M | $378M | $377M | $576M | $727M | $791M | $817M | $919M | $1.0B |
| Pre-tax income | $242M | $326M | $318M | $492M | $632M | $647M | $646M | $731M | $798M |
| Income tax | — | — | -$100,000 | $7M | $15M | $27M | $38M | $72M | $114M |
| Net income | $41M | $71M | $70M | $24M | $46M | $84M | $119M | $223M | $353M |
| Operating margin | 45.4% | 53.1% | 44.4% | 52.8% | 60.4% | 62.1% | 60.7% | 61.6% | 62.3% |
| Net margin | 7.1% | 9.9% | 8.3% | 2.2% | 3.9% | 6.6% | 8.8% | 15.0% | 21.8% |
Balance sheet
Fiscal years, from Hess Midstream Partners LP's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | — | $109M | $3M | $3M | $2M | $3M | $5M | $4M | $2M |
| Receivables | — | — | — | — | — | $123M | $122M | $135M | $144M |
| Total current assets | — | $180M | $96M | $101M | $133M | $132M | $137M | $149M | $159M |
| Property, plant and equipment | — | $2.7B | $3.0B | $3.1B | $3.1B | $3.2B | $3.2B | $3.3B | $3.4B |
| Total assets | — | $3.0B | $3.3B | $3.4B | $3.5B | $3.6B | $3.8B | $4.2B | $4.4B |
| Total current liabilities | — | $138M | $176M | $125M | $171M | $160M | $210M | $219M | $188M |
| Long-term debt | — | $970M | $1.8B | $1.9B | $2.5B | $2.9B | $3.2B | $3.4B | $3.7B |
| Total liabilities | — | $1.1B | $1.9B | $2.0B | $2.7B | $3.1B | $3.4B | $3.7B | $4.0B |
| Net debt | — | $872M | $1.8B | $1.9B | $2.6B | $2.9B | $3.2B | $3.5B | $3.8B |
Cash flow
Fiscal years, from Hess Midstream Partners LP's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $336M | $467M | $471M | $642M | $796M | $861M | $866M | $940M | $984M |
| Capital spending | $144M | $242M | $306M | $301M | $163M | $238M | $224M | $306M | $256M |
| Free cash flow | $192M | $225M | $164M | $341M | $632M | $623M | $643M | $634M | $728M |
| Stock-based compensation | $200,000 | $900,000 | $2M | $2M | $1M | $2M | $2M | $2M | $2M |
| Share buybacks (net) | — | — | — | — | -$750M | -$400M | -$400M | -$300M | -$400M |
| Free cash flow margin | 33.2% | 31.6% | 19.4% | 31.2% | 52.5% | 48.9% | 47.8% | 42.5% | 45.0% |
Questions
What was Hess Midstream Partners LP's revenue in 2025?
$1.6B in fiscal 2025, from its 10-K filing.
How much free cash flow does Hess Midstream Partners LP generate?
$728M in fiscal 2025 (operating cash flow minus capital spending).
From Hess Midstream Partners LP's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.