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 3,845 - -
Change - 41.55% 64.23% 78.24% 15.84% -13.86% - -
Enterprise Value (EV) 1 3,491 4,199 5,368 7,321 8,234 7,506 7,339 7,211
Change - 20.27% 27.84% 36.38% 12.47% -8.84% -2.23% -1.75%
P/E 15.7x 14.9x 15.2x 14.9x 12.1x 10.2x 11x 11.3x
PBR 34.3x 29.3x 21x 15.2x 12.6x 9.79x 7.42x 8.84x
PEG - 1x 4.36x 0.8x 0.8x 4.33x -1.49x -5.11x
Capitalization / Revenue 0.77x 1.03x 1.6x 2.58x 2.75x 2.4x 2.98x 2.93x
EV / Revenue 2.9x 3.29x 3.98x 4.9x 5.08x 4.69x 5.68x 5.5x
EV / EBITDA 3.84x 4.27x 5.25x 6.44x 6.65x 6.04x 7.69x 7.5x
EV / EBIT 4.8x 5.31x 6.57x 7.97x 8.17x 7.45x 10.1x 9.98x
EV / FCF 5.98x 6.74x 8.65x 11.2x 10.6x 8.08x 13x 12.6x
FCF Yield 16.7% 14.8% 11.6% 8.95% 9.46% 12.4% 7.7% 7.97%
Dividend per Share 2 1.984 2.237 2.438 2.705 2.966 3.171 3.264 3.309
Rate of return 7.18% 7.48% 7.71% 7.31% 8.6% 10.6% 10.9% 11%
EPS 2 1.76 2.01 2.08 2.49 2.86 2.927 2.711 2.651
Distribution rate 113% 111% 117% 109% 104% 108% 120% 125%
Net sales 1 1,204 1,275 1,349 1,496 1,621 1,600 1,292 1,312
EBITDA 1 908.5 982.9 1,022 1,136 1,238 1,242 954.2 961
EBIT 1 727.2 791.2 816.9 919 1,008 1,007 723.1 722.7
Net income 1 46.4 83.9 118.6 223.1 352.9 401.7 347.2 333.6
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 29.96 29.96 29.96
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.($)
10.23x4.69x6.04x10.58% 3.85B
23.85x3.25x12.95x5.87% 105B
25.52x9.23x13.47x3.29% 80.11B
12.27x1.71x10.24x6.04% 79.97B
19.47x5.41x10.84x3.97% 66.74B
11.13x1.08x6.87x7.24% 65.17B
23.15x9.52x12.75x4.01% 64.69B
22.41x4.09x12.75x1.89% 56.77B
24.59x3.3x8.67x0.84% 56.76B
12.95x6.04x11.19x8.16% 56.68B
Average 18.56x 4.83x 10.58x 5.19% 63.53B
Weighted average by Cap. 19.65x 4.79x 11.21x 4.75%

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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