Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, Hess Midstream LP's Enterprise Value is $8,459 Mil.
Hess Midstream LP's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was $1,025 Mil. Therefore, Hess Midstream LP's EV-to-EBIT ratio for today is 8.26.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. As of today, Hess Midstream LP's Enterprise Value is $8,459 Mil.
Hess Midstream LP's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was $1,246 Mil. Therefore, Hess Midstream LP's EV-to-EBITDA ratio for today is 6.79.
EV-to-Revenue is calculated as Enterprise Value divided by its Revenue. As of today, Hess Midstream LP's Enterprise Value is $8,459 Mil.
Hess Midstream LP's Revenue for the trailing twelve months (TTM) ended in Mar. 2026 was $1,625 Mil. Therefore, Hess Midstream LP's EV-to-Revenue ratio for today is 5.21.
*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.
Hess Midstream LP (NYSE:HESM) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
1. EV-to-EBIT is calculated as Enterprise Value divided by its EBIT.
Hess Midstream LP's current Enterprise Value is $8,459 Mil.
Hess Midstream LP's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,025 Mil.
2. EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA.
Hess Midstream LP's current Enterprise Value is $8,459 Mil.
Hess Midstream LP's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,246 Mil.
Hess Midstream LP's current Enterprise Value is $8,459 Mil.
Hess Midstream LP's Revenue for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,625 Mil.
Hess Midstream LP's current Enterprise Value is $8,459 Mil.
Hess Midstream LP's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,035 Mil.
Hess Midstream LP's current Enterprise Value is $8,459 Mil.
Hess Midstream LP's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $796 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 Enterprise Value Related Terms
Hess Midstream LP Enterprise Value Historical Data
* Premium members only.
The historical data trend for Hess Midstream LP's Enterprise Value 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: Enterprise Value Comparison
For the Oil & Gas Midstream subindustry, Hess Midstream LP's Enterprise Value, along with its competitors' market caps and Enterprise Value 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 Enterprise Value vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Hess Midstream LP's Enterprise Value distribution charts can be found below:
* The bar in red indicates where Hess Midstream LP's Enterprise Value falls into.
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
Hess Midstream LP's Enterprise Value for the fiscal year that ended in Dec. 2025 is calculated as
* 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 Enterprise Value of $8,459 Mil as of Jun. 29, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Hess Midstream LP and its competitors.
Is Hess Midstream LP's Enterprise Value too high?
Hess Midstream LP's current Enterprise Value is $8,459 Mil. Overall, Hess Midstream LP has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hess Midstream LP's Enterprise Value compare to PAGP and GLNG?
Hess Midstream LP's Enterprise Value of $8,459 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Enterprise Value for an Oil & Gas company?
A good Enterprise Value depends on the Oil & Gas industry context. However, Enterprise Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Hess Midstream LP and its competitors. Hess Midstream LP's current Enterprise Value is $8,459 Mil. 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 $24.43, compared to a current price of $37.67 — trading 54.2% above its estimated fair value. The current Enterprise Value is $8,459 Mil. Hess Midstream LP's overall GF Score™ is 67/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For Hess Midstream LP (HESM), the current Enterprise Value is $8,459 Mil as of Jun. 29, 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 $37.67 is trading 54.2% above its estimated GF Value™ of $24.43.
GuruFocus considers Hess Midstream LP to be Significantly Overvalued.
Key valuation signals for HESM:
Enterprise Value: $8,459 Mil
GF Value™: $24.43 vs. price of $37.67 (54.2% above fair value)
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.
67GF Score
Get the complete analysis for HESM
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