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 4,966 - -
Change - 41.55% 64.23% 78.24% 15.84% 11.24% - -
Enterprise Value (EV) 1 3,491 4,199 5,368 7,321 8,234 8,558 8,394 8,274
Change - 20.27% 27.84% 36.38% 12.47% 3.93% -1.92% -1.43%
P/E 15.7x 14.9x 15.2x 14.9x 12.1x 13.7x 13.1x 12.6x
PBR 34.3x 29.3x 21x 15.2x 12.6x 15.9x 16.7x 17x
PEG - 1x 4.36x 0.8x 0.8x -13.12x 2.9x 2.99x
Capitalization / Revenue 0.77x 1.03x 1.6x 2.58x 2.75x 3.08x 2.97x 2.87x
EV / Revenue 2.9x 3.29x 3.98x 4.9x 5.08x 5.31x 5.03x 4.79x
EV / EBITDA 3.84x 4.27x 5.25x 6.44x 6.65x 6.86x 6.5x 6.26x
EV / EBIT 4.8x 5.31x 6.57x 7.97x 8.17x 8.52x 7.97x 7.58x
EV / FCF 5.98x 6.74x 8.65x 11.2x 10.6x 9.5x 8.97x 8.74x
FCF Yield 16.7% 14.8% 11.6% 8.95% 9.46% 10.5% 11.1% 11.4%
Dividend per Share 2 1.984 2.237 2.438 2.705 2.966 3.178 3.36 3.531
Rate of return 7.18% 7.48% 7.71% 7.31% 8.6% 8.21% 8.68% 9.13%
EPS 2 1.76 2.01 2.08 2.49 2.86 2.83 2.958 3.083
Distribution rate 113% 111% 117% 109% 104% 112% 114% 115%
Net sales 1 1,204 1,275 1,349 1,496 1,621 1,611 1,670 1,729
EBITDA 1 908.5 982.9 1,022 1,136 1,238 1,248 1,292 1,323
EBIT 1 727.2 791.2 816.9 919 1,008 1,005 1,053 1,092
Net income 1 46.4 83.9 118.6 223.1 352.9 380.2 400.1 428.9
Net Debt 1 2,561 2,882 3,206 3,468 3,770 3,592 3,428 3,308
Reference price 2 27.63 29.92 31.63 37.03 34.50 38.69 38.69 38.69
Nbr of stocks (in thousands) 33,663 44,003 68,358 104,071 129,392 128,351 - -
Announcement Date 26/01/22 25/01/23 31/01/24 29/01/25 02/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
23.5x3.21x12.86x5.87% 104B
29.2x9.9x14.29x2.91% 88.55B
12.37x1.79x10.35x6.02% 80.46B
20.69x5.67x11.44x3.71% 71.61B
23.13x9.35x12.59x4.1% 62.7B
25.35x4.3x13.67x1.75% 61.27B
13.38x6.38x11.53x7.87% 58.57B
35.51x3.41x9.49x0.84% 56.85B
15.48x2.06x10.17x4.83% 56.25B
Average 22.07x 5.12x 11.82x 4.21% 71.11B
Weighted average by Cap. 22.15x 5.14x 11.98x 4.31%

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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