Financials Hess Corporation

Equities

HES

US42809H1077

Oil & Gas Exploration and Production

Market Closed - Nyse Other stock markets 16:00:02 2025-07-10 EDT			5-day change	1st Jan Change
152.04 ^USD	+0.77%		+5.94%	+14.31%

07-08	Hess to exit Suriname offshore oil block after partners leave over drilling risks	RE
07-08	Hess to exit Suriname's offshore oil Block 59, state firm says	RE

Projected Income Statement: Hess Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	4,804	7,554	11,570	10,645	13,018	11,236	12,869	15,045
Change	-	57.24%	53.16%	-7.99%	22.29%	-13.69%	14.53%	16.91%
EBITDA ¹	2,169	3,808	6,105	5,312	7,579	6,264	7,611	9,692
Change	-	75.56%	60.32%	-12.99%	42.68%	-17.35%	21.5%	27.35%
EBIT ¹	-2,382	1,971	4,174	2,949	4,766	3,212	4,263	5,880
Change	-	182.75%	111.77%	-29.35%	61.61%	-32.61%	32.71%	37.94%
Interest Paid ¹	-468	-481	-493	-478	-412	-410.7	-409.9	-402.7
Earnings before Tax (EBT) ¹	-2,850	1,490	3,681	2,471	4,354	2,918	4,121	4,839
Change	-	152.28%	147.05%	-32.87%	76.2%	-32.99%	41.23%	17.43%
Net income ¹	-3,093	559	2,223	1,382	2,769	1,610	2,375	3,895
Change	-	118.07%	297.67%	-37.83%	100.36%	-41.87%	47.57%	63.98%
Announcement Date	1/27/21	1/26/22	1/25/23	1/31/24	1/29/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	842	1,176	1,417	1,919	1,598	1,782	2,255	2,371	2,988	3,157	3,054	2,453	2,320	2,837	3,035	3,314	3,255	3,197	3,225	2,938	2,680	2,682	2,801	2,997	2,970	3,210	3,476	3,318
Change	-	39.67%	20.49%	35.43%	-16.73%	11.51%	26.54%	5.14%	26.02%	5.66%	-3.26%	-19.68%	-5.42%	22.28%	6.98%	9.19%	-1.78%	-1.78%	0.88%	-8.9%	-8.77%	0.07%	4.44%	6.99%	-0.9%	8.08%	8.29%	-4.56%
EBITDA ¹	387	529	709	1,005	833	809	1,132	1,183	1,627	1,596	1,677	1,284	1,083	1,498	1,447	2,127	1,954	1,646	1,852	1,697	1,434	1,483	1,573	1,750	1,789	1,956	2,107	2,305
Change	-	36.69%	34.03%	41.75%	-17.11%	-2.88%	39.93%	4.51%	37.53%	-1.91%	5.08%	-23.43%	-15.65%	38.32%	-3.4%	46.99%	-8.13%	-15.76%	12.52%	-8.37%	-15.49%	3.39%	6.12%	11.21%	2.22%	9.36%	7.69%	9.44%
EBIT ¹	-153	-60	163	576	253	453	689	803	1,203	1,013	1,133	727	487	934	801	1,528	1,253	964	1,021	873	758.5	676.4	789.2	943	830.1	1,006	1,182	1,376
Change	-	60.78%	371.67%	253.37%	-56.08%	79.05%	52.1%	16.55%	49.81%	-15.79%	11.85%	-35.83%	-33.01%	91.79%	-14.24%	90.76%	-18%	-23.06%	5.91%	-14.5%	-13.12%	-10.83%	16.69%	19.49%	-11.98%	21.25%	17.43%	16.47%
Charge d'intérêts ¹	-119	-118	-118	-117	-118	-125	-121	-123	-121	-125	-124	-123	-122	-117	-116	-113	-106	-100	-93	-92	-100.6	-100.9	-100.9	-100	-100.3	-100.6	-100.6	-95.41
Earnings before Tax (EBT) ¹	-272	-178	45	459	135	328	568	702	1,082	888	1,009	604	365	817	685	1,415	1,147	864	928	781	710.7	701.8	733.2	860.1	908.3	988.9	1,089	1,208
Change	-	34.56%	125.28%	920%	-70.59%	142.96%	73.17%	23.59%	54.13%	-17.93%	13.63%	-40.14%	-39.57%	123.84%	-16.16%	106.57%	-18.94%	-24.67%	7.41%	-15.84%	-9%	-1.25%	4.48%	17.31%	5.6%	8.88%	10.12%	10.89%
Net income ¹	-320	-243	-97	252	-73	115	265	417	667	515	624	346	119	504	413	972	757	498	542	430	397	338.6	388.4	471.3	486.4	606.2	715.6	862
Change	-	24.06%	60.08%	359.79%	-128.97%	257.53%	130.43%	57.36%	59.95%	-22.79%	21.17%	-44.55%	-65.61%	323.53%	-18.06%	135.35%	-22.12%	-34.21%	8.84%	-20.66%	-7.66%	-14.73%	14.72%	21.35%	3.21%	24.63%	18.03%	20.47%
Announcement Date	7/29/20	10/28/20	1/27/21	4/28/21	7/28/21	10/27/21	1/26/22	4/27/22	7/27/22	10/26/22	1/25/23	4/26/23	7/26/23	10/25/23	1/31/24	4/25/24	7/31/24	10/30/24	1/29/25	4/30/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Hess Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	6,557	5,745	5,795	6,925	7,407	7,918	7,645	6,251
Change	-	-12.38%	0.87%	19.5%	6.96%	6.9%	-3.45%	-18.23%
Announcement Date	1/27/21	1/26/22	1/25/23	1/31/24	1/29/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Hess Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	2,197	1,747	2,725	4,108	4,946	4,314	4,896	5,093
Change	-	-20.48%	55.98%	50.75%	20.4%	-12.79%	13.5%	4.03%
Free Cash Flow (FCF) ¹	-864	1,143	1,219	-166	654	486	1,304	3,793
Change	-	232.29%	6.65%	-113.62%	493.98%	-25.69%	168.42%	190.76%
Announcement Date	1/27/21	1/26/22	1/25/23	1/31/24	1/29/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Hess Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	45.15%	50.41%	52.77%	49.9%	58.22%	55.75%	59.14%	64.42%
EBIT Margin (%)	-49.58%	26.09%	36.08%	27.7%	36.61%	28.59%	33.12%	39.08%
EBT Margin (%)	-59.33%	19.72%	31.82%	23.21%	33.45%	25.97%	32.02%	32.16%
Net margin (%)	-64.38%	7.4%	19.21%	12.98%	21.27%	14.32%	18.46%	25.89%
FCF margin (%)	-17.99%	15.13%	10.54%	-1.56%	5.02%	4.33%	10.14%	25.21%
FCF / Net Income (%)	27.93%	204.47%	54.84%	-12.01%	23.62%	30.19%	54.92%	97.38%
Profitability
ROA	-15.24%	2.84%	10.53%	6.05%	11.8%	5.1%	5.7%	8.1%
ROE	-12.68%	11.61%	31.13%	18.43%	29.53%	12.78%	16.09%	23.7%
Financial Health
Leverage (Debt/EBITDA)	3.02x	1.51x	0.95x	1.3x	0.98x	1.26x	1x	0.64x
Debt / Free cash flow	-7.59x	5.03x	4.75x	-41.72x	11.33x	16.29x	5.86x	1.65x
Capital Intensity
CAPEX / Current Assets (%)	45.73%	23.13%	23.55%	38.59%	37.99%	38.39%	38.04%	33.85%
CAPEX / EBITDA (%)	101.29%	45.88%	44.64%	77.33%	65.26%	68.86%	64.33%	52.55%
CAPEX / FCF (%)	-254.28%	152.84%	223.54%	-2,474.7%	756.27%	887.57%	375.31%	134.28%
Items per share
Cash flow per share ¹	5.92	9.67	16.87	14.61	18.16	16.9	20.1	24.32
Change	-	63.35%	74.42%	-13.38%	24.33%	-6.96%	18.92%	21%
Dividend per Share ¹	1	1	1.5	1.75	1.875	2.02	1.975	2.025
Change	-	0%	50%	16.67%	7.14%	7.73%	-2.23%	2.53%
Book Value Per Share ¹	17.6	20.37	25.78	29.21	36.36	41.47	47.35	59.81
Change	-	15.7%	26.58%	13.31%	24.45%	14.08%	14.17%	26.3%
EPS ¹	-10.15	1.81	7.18	4.49	8.98	5.08	7.423	12.76
Change	-	117.83%	296.69%	-37.47%	100%	-43.43%	46.12%	71.91%
Nbr of stocks (in thousands)	305,063	307,810	306,692	305,847	307,097	308,042	308,042	308,042
Announcement Date	1/27/21	1/26/22	1/25/23	1/31/24	1/29/25	-	-	-