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Hess Midstream LPHESM -0.35%72 Earnings Yield (Joel Greenblatt) % is 12.17% as of Jun. 2026, which is 9% below its 10-year median of 13.31. GuruFocus rates HESM with a GF Score™ of 72/100 and a GF Value™ of $27.78 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 1,042 Oil & Gas companies, Hess Midstream LP ranks better than 77.16% on this metric.
Hess Midstream LP's Enterprise Value for the quarter that ended in Jun. 2026 was $8,376 Mil.
Hess Midstream LP's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was $1,020 Mil. Hess Midstream LP's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2026 was 12.17%.
The historical rank and industry rank for Hess Midstream LP's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
HESM'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 7.84 Med: 13.31 Max: 20.99
Current: 11.81
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Hess Midstream LP was 20.99%. The lowest was 7.84%. And the median was 13.31%.
HESM's Earnings Yield (Joel Greenblatt) % is ranked better than 77.16% of 1042
companies
in the Oil & Gas industry
Industry Median: 5.165
vs HESM: 11.81
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Hess Midstream LP's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2026 was 4.48%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
Hess Midstream LP Earnings Yield (Joel Greenblatt) % Related Terms
Hess Midstream LP Earnings Yield (Joel Greenblatt) % Historical Data
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The historical data trend for Hess Midstream LP's Earnings Yield (Joel Greenblatt) % 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.
For the Oil & Gas Midstream subindustry, Hess Midstream LP's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % 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 Earnings Yield (Joel Greenblatt) % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Hess Midstream LP's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Hess Midstream LP's Earnings Yield (Joel Greenblatt) % falls into.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Hess Midstream LPs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
Hess Midstream LP's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,020 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 12.17% mean?
Hess Midstream LP (HESM) has a Earnings Yield (Joel Greenblatt) % of 12.17% as of Jun. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Hess Midstream LP and its competitors. This is near median its historical median of 13.31. Over the past decade, Hess Midstream LP's Earnings Yield (Joel Greenblatt) % has ranged from 7.84 to 20.99. According to the industry distribution chart, Hess Midstream LP ranks #238 out of 1042 companies in the Oil & Gas industry, placing it in the top 22.8%.
Is Hess Midstream LP's Earnings Yield (Joel Greenblatt) % too high?
Hess Midstream LP's current Earnings Yield (Joel Greenblatt) % of 12.17% is near median its 10-year median of 13.31. Over the past 10 years, this metric has ranged from a low of 7.84 to a high of 20.99. The Oil & Gas industry median Earnings Yield (Joel Greenblatt) % is 5.17. Hess Midstream LP's value of 12.17% is 135.6% above this industry median. Based on the distribution chart, Hess Midstream LP ranks #238 out of 1042 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Hess Midstream LP has a GF Score™ of 72/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hess Midstream LP's Earnings Yield (Joel Greenblatt) % compare to PAGP and GLNG?
According to the Oil & Gas industry distribution chart, Hess Midstream LP ranks #238 out of 1042 companies for Earnings Yield (Joel Greenblatt) %. This places Hess Midstream LP in the top 23% of its industry — outperforming the majority of peers. The industry median Earnings Yield (Joel Greenblatt) % is 5.17. Hess Midstream LP's value of 12.17% is 135.6% above this benchmark. Historically, Hess Midstream LP's own Earnings Yield (Joel Greenblatt) % has ranged from 7.84 to 20.99 over the past decade. While the company's 10-year median is 13.31 vs. the industry median of 5.17, 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 Earnings Yield (Joel Greenblatt) % for an Oil & Gas company?
The median Earnings Yield (Joel Greenblatt) % among Oil & Gas companies is 5.17, based on 1,042 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Hess Midstream LP's current Earnings Yield (Joel Greenblatt) % of 12.17% is 135.6% 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 Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Hess Midstream LP and its competitors. For the Oil & Gas industry, the median Earnings Yield (Joel Greenblatt) % is 5.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hess Midstream LP's current Earnings Yield (Joel Greenblatt) % is 12.17%, which is near median its own 10-year median of 13.31. 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 $27.78, compared to a current price of $39.80 — trading 43.3% above its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 12.17%, which is near median its 10-year median of 13.31 and 135.6% above the Oil & Gas industry median of 5.17. Hess Midstream LP's overall GF Score™ is 72/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For Hess Midstream LP (HESM), the current Earnings Yield (Joel Greenblatt) % is 12.17% as of Jun. 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 $39.80 is trading 43.3% above its estimated GF Value™ of $27.78.
GuruFocus considers Hess Midstream LP to be Significantly Overvalued.
Key valuation signals for HESM:
Earnings Yield (Joel Greenblatt) %: 12.17% (near median its 10-year median of 13.31)
GF Value™: $27.78 vs. price of $39.80 (43.3% above fair value)
Industry Position: 135.6% above the Oil & Gas median (#238 of 1042)
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.
72GF Score
Get the complete analysis for HESM
Earnings Yield (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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