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Hess Midstream LPHESM +1.39%65 Debt-to-Equity is 7.28 as of Mar. 2026, which is 27% below its 10-year median of 9.96. GuruFocus rates HESM with a GF Score™ of 65/100 and a GF Value™ of $24.34 (Significantly Overvalued). The stock has 10 warning signs investors should review. Among 798 Oil & Gas companies, Hess Midstream LP ranks worse than 97.87% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Hess Midstream LP's Debt-to-Equity or its related term are showing as below:
HESM'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.01 Med: 9.96 Max: 19.25
Current: 7.28
During the past 13 years, the highest Debt-to-Equity Ratio of Hess Midstream LP was 19.25. The lowest was 0.01. And the median was 9.96.
HESM's Debt-to-Equity is ranked worse than 97.87% of 798
companies
in the Oil & Gas industry
Industry Median: 0.46
vs HESM: 7.28
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Hess Midstream LP Debt-to-Equity Related Terms
Hess Midstream LP Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Hess Midstream LP's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
HESM vs PAGP, GLNG, INSW: Debt-to-Equity Comparison
For the Oil & Gas Midstream subindustry, Hess Midstream LP's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Hess Midstream LP Debt-to-Equity vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Hess Midstream LP's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Hess Midstream LP's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Hess Midstream LP (HESM) has a Debt-to-Equity of 7.28 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Hess Midstream LP and its competitors. This is 27% below median its historical median of 9.96. Over the past decade, Hess Midstream LP's Debt-to-Equity has ranged from 0.01 to 19.25. According to the industry distribution chart, Hess Midstream LP ranks #781 out of 798 companies in the Oil & Gas industry, placing it in the top 97.9%.
Is Hess Midstream LP's Debt-to-Equity too high?
Hess Midstream LP's current Debt-to-Equity of 7.28 is 27% below median its 10-year median of 9.96. Over the past 10 years, this metric has ranged from a low of 0.01 to a high of 19.25. The Oil & Gas industry median Debt-to-Equity is 0.46. Hess Midstream LP's value of 7.28 is 1482.6% above this industry median. Based on the distribution chart, Hess Midstream LP ranks #781 out of 798 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Hess Midstream LP has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hess Midstream LP's Debt-to-Equity compare to PAGP and GLNG?
According to the Oil & Gas industry distribution chart, Hess Midstream LP ranks #781 out of 798 companies for Debt-to-Equity. This places Hess Midstream LP in the lower half of its industry. The industry median Debt-to-Equity is 0.46. Hess Midstream LP's value of 7.28 is 1482.6% above this benchmark. Historically, Hess Midstream LP's own Debt-to-Equity has ranged from 0.01 to 19.25 over the past decade. While the company's 10-year median is 9.96 vs. the industry median of 0.46, Hess Midstream LP has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for an Oil & Gas company?
The median Debt-to-Equity among Oil & Gas companies is 0.46, based on 798 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Hess Midstream LP's current Debt-to-Equity of 7.28 is 1482.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Hess Midstream LP and its competitors. For the Oil & Gas industry, the median Debt-to-Equity is 0.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hess Midstream LP's current Debt-to-Equity is 7.28, which is 27% below median its own 10-year median of 9.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hess Midstream LP stock overvalued right now?
Based on GuruFocus' analysis, Hess Midstream LP (HESM) is currently considered Significantly Overvalued. The stock's GF Value™ is $24.34, compared to a current price of $40.83 — trading 67.7% above its estimated fair value. The current Debt-to-Equity is 7.28, which is 27% below median its 10-year median of 9.96 and 1482.6% above the Oil & Gas industry median of 0.46. Hess Midstream LP's overall GF Score™ is 65/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Hess Midstream LP (HESM), the current Debt-to-Equity is 7.28 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Hess Midstream LP (HESM) Overvalued in 2026?
Based on GuruFocus' analysis, Hess Midstream LP stock appears to be overvalued.
The current stock price of $40.83 is trading 67.7% above its estimated GF Value™ of $24.34.
GuruFocus considers Hess Midstream LP to be Significantly Overvalued.
Key valuation signals for HESM:
Debt-to-Equity: 7.28 (27% below median its 10-year median of 9.96)
GF Value™: $24.34 vs. price of $40.83 (67.7% above fair value)
Industry Position: 1482.6% above the Oil & Gas median (#781 of 798)
No single metric tells the full story. See the HESM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hess Midstream LP is a fee-based, growth-oriented limited partnership that owns, operates, develops, and acquires a portfolio of midstream assets. The company provides fee-based services to Chevron Corporation and generates all of its revenue by charging fees for gathering, compressing, and processing natural gas, fractionating NGLs, gathering, terminaling, loading, and transporting crude oil and NGLs, storing and terminaling propane, and gathering and disposing of produced water. It operates through gathering, processing, and storage, and terminaling and export segments, with the gathering segment contributing the maximum share of revenue and comprising natural gas gathering and compression, as well as crude oil gathering and produced water gathering and disposal assets.
65GF Score
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