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Hess Midstream LPHESM -1.13%66 EV-to-OCF is 8.39 as of Aug. 13, 2026, which is 20% above its 10-year median of 6.99. GuruFocus rates HESM with a GF Score™ of 66/100 and a GF Value™ of $27.55 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,027 Oil & Gas companies, Hess Midstream LP ranks worse than 64.36% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Hess Midstream LP's Enterprise Value is $8,693 Mil.
Hess Midstream LP's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was $1,036 Mil. Therefore, Hess Midstream LP's EV-to-OCF for today is 8.39.
The historical rank and industry rank for Hess Midstream LP's EV-to-OCF or its related term are showing as below:
HESM'
s EV-to-OCF Range Over the Past 10 Years
Min: 2.68 Med: 6.99 Max: 9.5
Current: 8.39
During the past 13 years, the highest EV-to-OCF of Hess Midstream LP was 9.50. The lowest was 2.68. And the median was 6.99.
HESM's EV-to-OCF is ranked worse than 64.36% of 1027
companies
in the Oil & Gas industry
Industry Median: 5.66
vs HESM: 8.39
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Hess Midstream LP's PE Ratio (TTM) for today is calculated as:
Hess Midstream LP's share price for today is $40.08.
Hess Midstream LP's Earnings per Share (Diluted) 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 $2.900.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Hess Midstream LP EV-to-OCF Related Terms
Hess Midstream LP EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Hess Midstream LP's EV-to-OCF 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 EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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 EV-to-OCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Hess Midstream LP's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Hess Midstream LP's EV-to-OCF falls into.
Hess Midstream LP's current Enterprise Value is $8,693 Mil.
Hess Midstream LP's Cash Flow from Operations 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 $1,036 Mil.
* 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 EV-to-OCF of 8.39 as of Aug. 13, 2026. This is 20% above median its historical median of 6.99. Over the past decade, Hess Midstream LP's EV-to-OCF has ranged from 2.68 to 9.50. According to the industry distribution chart, Hess Midstream LP ranks #661 out of 1027 companies in the Oil & Gas industry, placing it in the top 64.4%.
Is Hess Midstream LP's EV-to-OCF too high?
Hess Midstream LP's current EV-to-OCF of 8.39 is 20% above median its 10-year median of 6.99. Over the past 10 years, this metric has ranged from a low of 2.68 to a high of 9.50. The Oil & Gas industry median EV-to-OCF is 5.66. Hess Midstream LP's value of 8.39 is 48.2% above this industry median. Based on the distribution chart, Hess Midstream LP ranks #661 out of 1027 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Hess Midstream LP has a GF Score™ of 66/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hess Midstream LP's EV-to-OCF compare to PAGP and GLNG?
According to the Oil & Gas industry distribution chart, Hess Midstream LP ranks #661 out of 1027 companies for EV-to-OCF. This places Hess Midstream LP in the lower half of its industry. The industry median EV-to-OCF is 5.66. Hess Midstream LP's value of 8.39 is 48.2% above this benchmark. Historically, Hess Midstream LP's own EV-to-OCF has ranged from 2.68 to 9.50 over the past decade. While the company's 10-year median is 6.99 vs. the industry median of 5.66, 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 EV-to-OCF for an Oil & Gas company?
The median EV-to-OCF among Oil & Gas companies is 5.66, based on 1,027 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Hess Midstream LP's current EV-to-OCF of 8.39 is 48.2% 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 EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Oil & Gas industry, the median EV-to-OCF is 5.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hess Midstream LP's current EV-to-OCF is 8.39, which is 20% above median its own 10-year median of 6.99. 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 $27.55, compared to a current price of $40.08 — trading 45.5% above its estimated fair value. The current EV-to-OCF is 8.39, which is 20% above median its 10-year median of 6.99 and 48.2% above the Oil & Gas industry median of 5.66. Hess Midstream LP's overall GF Score™ is 66/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Hess Midstream LP (HESM), the current EV-to-OCF is 8.39 as of Aug. 13, 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 $40.08 is trading 45.5% above its estimated GF Value™ of $27.55.
GuruFocus considers Hess Midstream LP to be Significantly Overvalued.
Key valuation signals for HESM:
EV-to-OCF: 8.39 (20% above median its 10-year median of 6.99)
GF Value™: $27.55 vs. price of $40.08 (45.5% above fair value)
Industry Position: 48.2% above the Oil & Gas median (#661 of 1027)
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.
66GF Score
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