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 3,935 - -
Change - 41.55% 64.23% 78.24% 15.84% -11.85% - -
Enterprise Value (EV) 1 3,491 4,199 5,368 7,321 8,234 7,596 7,429 7,301
Change - 20.27% 27.84% 36.38% 12.47% -7.75% -2.2% -1.73%
P/E 15.7x 14.9x 15.2x 14.9x 12.1x 9.77x 10.9x 11.1x
PBR 34.3x 29.3x 21x 15.2x 12.6x 10x 7.59x 9.04x
PEG - 1x 4.36x 0.8x 0.8x 1x -1x -7.78x
Capitalization / Revenue 0.77x 1.03x 1.6x 2.58x 2.75x 2.45x 2.72x 2.74x
EV / Revenue 2.9x 3.29x 3.98x 4.9x 5.08x 4.73x 5.13x 5.08x
EV / EBITDA 3.84x 4.27x 5.25x 6.44x 6.65x 6.11x 7.24x 6.77x
EV / EBIT 4.8x 5.31x 6.57x 7.97x 8.17x 7.59x 8.9x 8.63x
EV / FCF 5.98x 6.74x 8.65x 11.2x 10.6x 8.43x 7.94x 7.71x
FCF Yield 16.7% 14.8% 11.6% 8.95% 9.46% 11.9% 12.6% 13%
Dividend per Share 2 1.984 2.237 2.438 2.705 2.966 3.177 3.317 3.435
Rate of return 7.18% 7.48% 7.71% 7.31% 8.6% 10.4% 10.8% 11.2%
EPS 2 1.76 2.01 2.08 2.49 2.86 3.14 2.801 2.761
Distribution rate 113% 111% 117% 109% 104% 101% 118% 124%
Net sales 1 1,204 1,275 1,349 1,496 1,621 1,605 1,449 1,438
EBITDA 1 908.5 982.9 1,022 1,136 1,238 1,243 1,026 1,078
EBIT 1 727.2 791.2 816.9 919 1,008 1,000 835.1 845.7
Net income 1 46.4 83.9 118.6 223.1 352.9 402.3 364.3 360.2
Net Debt 1 2,561 2,882 3,206 3,468 3,770 3,661 3,494 3,365
Reference price 2 27.63 29.92 31.63 37.03 34.50 30.66 30.66 30.66
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.($)
9.77x4.73x6.11x10.36% 3.94B
24.38x3.29x13.11x5.71% 107B
28.57x9.73x14.13x2.96% 87.19B
12.23x1.79x10.26x6.08% 79.51B
22x5.92x11.92x3.49% 76.16B
11.67x1.12x7.19x6.76% 69.76B
23.55x9.43x12.66x4.02% 64.18B
26.07x4.39x13.96x1.69% 63.24B
37.07x3.57x9.75x0.8% 59.78B
13.54x6.41x11.59x7.82% 58.97B
Average 20.89x 5.04x 11.07x 4.97% 66.99B
Weighted average by Cap. 22.06x 5.02x 11.72x 4.49%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Hess Midstream LP

Historical PBR trend

Valuation ratios - PBR - Hess Midstream LP

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Hess Midstream LP

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Hess Midstream LP


Year-on-year evolution of the Yield

Valuation ratios - Yield - Hess Midstream LP
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