Hess Midstream LPHESM +0.05%67 EV-to-FCF is 10.71 as of Jul. 07, 2026, which is 5% below its 10-year median of 11.23. GuruFocus rates HESM with a GF Score™ of 67/100 and a GF Value™ of $24.41 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 578 Oil & Gas companies, Hess Midstream LP ranks better than 65.22% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Hess Midstream LP's Enterprise Value is $8,525 Mil.
Hess Midstream LP's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $796 Mil. Therefore, Hess Midstream LP's EV-to-FCF for today is 10.71.
The historical rank and industry rank for Hess Midstream LP's EV-to-FCF or its related term are showing as below:
HESM'
s EV-to-FCF Range Over the Past 10 Years
Min: 6.37 Med: 11.23 Max: 22.28
Current: 10.71
During the past 13 years, the highest EV-to-FCF of Hess Midstream LP was 22.28. The lowest was 6.37. And the median was 11.23.
HESM's EV-to-FCF is ranked better than 65.22% of 578
companies
in the Oil & Gas industry
Industry Median: 15.445
vs HESM: 10.71
EV-to-FCF 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-FCF 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 $38.18.
Hess Midstream LP's Earnings per Share (Diluted) 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 $2.890.
* 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. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Hess Midstream LP EV-to-FCF Related Terms
Hess Midstream LP EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Hess Midstream LP's EV-to-FCF 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-FCF, along with its competitors' market caps and EV-to-FCF 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-FCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Hess Midstream LP's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Hess Midstream LP's EV-to-FCF falls into.
Hess Midstream LP's current Enterprise Value is $8,525 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 (HESM) has a EV-to-FCF of 10.71 as of Jul. 07, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Hess Midstream LP and its competitors. This is near median its historical median of 11.23. Over the past decade, Hess Midstream LP's EV-to-FCF has ranged from 6.37 to 22.28. According to the industry distribution chart, Hess Midstream LP ranks #201 out of 578 companies in the Oil & Gas industry, placing it in the top 34.8%.
Is Hess Midstream LP's EV-to-FCF too high?
Hess Midstream LP's current EV-to-FCF of 10.71 is near median its 10-year median of 11.23. Over the past 10 years, this metric has ranged from a low of 6.37 to a high of 22.28. The Oil & Gas industry median EV-to-FCF is 15.45. Hess Midstream LP's value of 10.71 is 30.7% below this industry median. Based on the distribution chart, Hess Midstream LP ranks #201 out of 578 companies in the Oil & Gas industry, which is above the industry midpoint. 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 EV-to-FCF compare to PAGP and GLNG?
According to the Oil & Gas industry distribution chart, Hess Midstream LP ranks #201 out of 578 companies for EV-to-FCF. This puts Hess Midstream LP in the upper half of its industry. The industry median EV-to-FCF is 15.45. Hess Midstream LP's value of 10.71 is 30.7% below this benchmark. Historically, Hess Midstream LP's own EV-to-FCF has ranged from 6.37 to 22.28 over the past decade. While the company's 10-year median is 11.23 vs. the industry median of 15.45, Hess Midstream LP has consistently been below 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-FCF for an Oil & Gas company?
The median EV-to-FCF among Oil & Gas companies is 15.45, based on 578 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Hess Midstream LP's current EV-to-FCF of 10.71 is 30.7% below 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-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Hess Midstream LP and its competitors. For the Oil & Gas industry, the median EV-to-FCF is 15.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hess Midstream LP's current EV-to-FCF is 10.71, which is near median its own 10-year median of 11.23. 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 $24.41, compared to a current price of $38.18 — trading 56.4% above its estimated fair value. The current EV-to-FCF is 10.71, which is near median its 10-year median of 11.23 and 30.7% below the Oil & Gas industry median of 15.45. 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 EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Hess Midstream LP (HESM), the current EV-to-FCF is 10.71 as of Jul. 07, 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 $38.18 is trading 56.4% above its estimated GF Value™ of $24.41.
GuruFocus considers Hess Midstream LP to be Significantly Overvalued.
Key valuation signals for HESM:
EV-to-FCF: 10.71 (near median its 10-year median of 11.23)
GF Value™: $24.41 vs. price of $38.18 (56.4% above fair value)
Industry Position: 30.7% below the Oil & Gas median (#201 of 578)
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
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