Friday 6 November 2026 Export HESM’s income statement to Excel — free account

Hess Midstream Partners LP

Hess Midstream Partners LP’s revenue for fiscal 2025 (year ended December 2025) was $1.6 billion, up 8.41% from fiscal 2024.

Revenue: −2.57%
EPS: +1.35%
Free cash flow: +35.4%
Total debt: −5.16%

Quarter to September 2026, against a year earlier

30.40 1.40 −4.40%

Follow HESM

Alert me

Market cap: $6.3B
P/E: 10.5×
Fwd P/E: 10.5×
Dividend yield: 10.3%
F-score: 6/9
Altman Z: n/a
Beneish M: −2.65
Dividend safety: 42/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Hess Midstream Partners LP (HESM) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Gathering Opco	871	53.70%
Processing and Storage	620	38.24%
Terminaling and Export	131	8.06%
Gross margin		100.00%
Operating margin		62.18%
Pre-tax margin		49.24%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Affiliate services	1,574 97.06%	1,468 98.15%	1,338 99.22%	1,273 99.84%	1,204 100.00%	—	—	—	—
Third-party services	44 2.69%	24 1.61%	8 0.59%	0 0.00%	0 0.00%	—	—	—	—
Oil and Gas Service	—	—	—	—	—	469 42.98%	346 40.74%	325 45.59%	272 46.87%
Processing And Storage Services	—	—	—	—	—	370 33.91%	295 34.74%	251 35.27%	227 39.22%
Terminaling And Export Services	—	—	—	—	—	159 14.60%	130 15.32%	85 11.98%	67 11.51%
Water Gathering And Disposal Services	—	—	—	—	—	93 8.48%	77 9.11%	50 7.06%	14 2.40%
Revenue	1,621	1,496	1,349	1,275	1,204	1,092	848	713	580

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Gathering Opco	871 53.70%	799 53.43%	730 54.13%	678 53.16%	631 52.38%	562 51.46%	423 49.85%	375 52.64%	286 49.27%
Processing and Storage	620 38.24%	578 38.63%	502 37.20%	471 36.92%	436 36.19%	371 33.94%	295 34.81%	251 35.27%	227 39.22%
Terminaling and Export	131 8.06%	119 7.94%	117 8.67%	127 9.92%	138 11.42%	159 14.60%	130 15.34%	86 12.08%	67 11.51%
Revenue	1,621	1,496	1,349	1,275	1,204	1,092	848	713	580

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Crude oil gathering	Q3 FY2026	107.0K	123.0K	−13.01%
Crude terminals	Q3 FY2026	117.0K	130.0K	−10.00%
Gas gathering	Q3 FY2026	438.0K	480.0K	−8.75%
Gas processing	Q3 FY2026	427.0K	462.0K	−7.58%
NGL loading	Q3 FY2026	17.0K	18.0K	−5.56%
Water gathering	Q3 FY2026	131.0K	137.0K	−4.38%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023
Crude oil gathering	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Crude terminals	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gas gathering	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gas processing	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGL loading	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Water gathering	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.