Hess (HES) Financials

$127.80 -0.70 (-0.54%)

As of 04/14/2025 03:58 PM Eastern

Annual Income Statements for Hess

This table shows Hess' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-3,056	-6,173	-4,120	-328	-412	-3,093	559	2,096	1,382	2,769
Consolidated Net Income / (Loss)	-3,007	-6,076	-3,941	-115	-240	-2,839	890	2,447	1,738	3,152
Net Income / (Loss) Continuing Operations	-2,959	-6,076	-3,941	-115	-240	-2,839	890	2,447	1,738	3,152
Total Pre-Tax Income	-4,258	-3,854	-5,778	220	221	-2,850	1,490	3,546	2,471	4,354
Total Operating Income	-4,258	-3,854	-5,778	619	601	-2,850	1,890	3,894	2,339	4,645
Total Gross Profit	5,267	3,776	4,124	4,695	4,774	4,804	5,439	7,996	7,779	10,276
Total Revenue	6,561	4,839	5,391	6,466	6,510	4,804	7,473	11,324	10,511	12,896
Operating Revenue	6,561	4,839	5,391	6,466	6,510	4,804	7,473	11,324	10,511	12,896
Total Cost of Revenue	1,294	1,063	1,267	1,771	1,736	0.00	2,034	3,328	2,732	2,620
Operating Cost of Revenue	1,294	1,063	1,267	1,771	1,736	-	2,034	3,328	2,732	2,620
Total Operating Expenses	9,525	7,630	9,902	4,076	4,173	7,654	3,549	4,102	5,440	5,631
Selling, General & Admin Expense	2,586	2,290	1,865	473	397	1,575	1,569	1,983	2,303	2,453
Marketing Expense	146	101	119	171	184	1,060	172	255	216	234
Exploration Expense	881	1,442	507	362	233	351	162	208	317	326
Depreciation Expense	3,955	3,244	2,883	1,883	2,122	2,074	1,528	1,703	2,046	2,487
Impairment Charge	1,616	67	4,203	0.00	-	2,126	147	54	82	132
Other Special Charges / (Income)	0.00	148	0.00	1,134	1,237	-	-29	-101	-2.00	-1.00
Total Other Income / (Expense), net	0.00	0.00	0.00	-399	-380	0.00	-400	-348	132	-291
Interest Expense	-	-	-	399	380	-	481	493	-	412
Other Income / (Expense), net	-	-	-	-	-	-	81	145	132	121
Income Tax Expense	-1,299	2,222	-1,837	335	461	-11	600	1,099	733	1,202
Net Income / (Loss) Attributable to Noncontrolling Interest	49	56	133	167	168	254	331	351	356	383
Basic Earnings per Share	($10.78)	($19.92)	($13.12)	($1.10)	($1.37)	($10.15)	$1.82	$6.80	$4.52	$9.03
Weighted Average Basic Shares Outstanding	283.60M	309.90M	314.10M	298.20M	301.20M	304.80M	307.40M	308.10M	305.90M	306.80M
Diluted Earnings per Share	($10.78)	($19.92)	($13.12)	($1.10)	($1.37)	($10.15)	$1.81	$6.77	$4.49	$8.98
Weighted Average Diluted Shares Outstanding	283.60M	309.90M	314.10M	298.20M	301.20M	304.80M	309.30M	309.60M	307.60M	308.30M
Weighted Average Basic & Diluted Shares Outstanding	283.60M	309.90M	314.10M	298.20M	301.20M	306.99M	309.75M	306.18M	307.15M	308.29M
Cash Dividends to Common per Share	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.50	$1.75	$1.88

This table shows Hess' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	515	497	346	119	504	413	972	757	498	542
Consolidated Net Income / (Loss)	606	582	428	205	602	503	1,067	851	594	640
Net Income / (Loss) Continuing Operations	606	582	428	205	602	503	1,067	851	594	640
Total Pre-Tax Income	888	874	604	365	817	685	1,415	1,147	864	928
Total Operating Income	978	1,075	562	456	782	539	1,383	1,094	959	1,209
Total Gross Profit	2,140	2,113	1,808	1,742	2,104	2,125	2,687	2,570	2,478	2,541
Total Revenue	3,122	2,934	2,411	2,289	2,800	3,011	3,309	3,202	3,191	3,194
Total Cost of Revenue	982	821	603	547	696	886	622	632	713	653
Operating Cost of Revenue	982	821	603	547	696	886	622	632	713	653
Total Operating Expenses	1,162	1,038	1,246	1,286	1,322	1,586	1,304	1,476	1,519	1,332
Selling, General & Admin Expense	507	602	518	562	582	641	536	605	645	667
Marketing Expense	72	55	48	46	61	61	56	64	61	53
Exploration Expense	58	74	66	99	65	87	42	101	44	139
Depreciation Expense	471	504	491	497	499	559	557	600	638	692
Total Other Income / (Expense), net	-90	-201	42	-91	35	146	32	53	-95	-281
Other Income / (Expense), net	35	44	42	31	35	24	32	53	5.00	31
Income Tax Expense	282	292	176	160	215	182	348	296	270	288
Net Income / (Loss) Attributable to Noncontrolling Interest	91	85	82	86	98	90	95	94	96	98
Basic Earnings per Share	$1.67	$1.63	$1.13	$0.39	$1.65	$1.35	$3.17	$2.47	$1.62	$1.77
Weighted Average Basic Shares Outstanding	307.60M	308.10M	305.40M	306M	306.10M	305.90M	306.40M	306.90M	306.90M	306.80M
Diluted Earnings per Share	$1.67	$1.61	$1.13	$0.39	$1.64	$1.33	$3.16	$2.46	$1.62	$1.74
Weighted Average Diluted Shares Outstanding	308.90M	309.60M	307.30M	307.50M	307.70M	307.60M	307.90M	308.30M	308.30M	308.30M
Weighted Average Basic & Diluted Shares Outstanding	308.31M	306.18M	307.05M	307.06M	307.15M	307.15M	308.11M	308.11M	308.12M	308.29M
Cash Dividends to Common per Share	$0.38	$0.38	$0.44	$0.44	$0.44	$0.44	$0.44	$0.44	$0.50	$0.50

This table details how cash moves in and out of Hess' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	272	16	2,115	-2,153	-1,149	194	974	-227	-798	-517
Net Cash From Operating Activities	1,981	795	945	1,939	1,642	1,333	2,890	3,944	3,942	5,600
Net Cash From Continuing Operating Activities	2,016	795	945	1,939	1,642	1,333	2,890	3,944	3,942	5,600
Net Income / (Loss) Continuing Operations	-2,959	-6,076	-3,941	-115	-240	-2,839	890	2,447	1,738	3,152
Consolidated Net Income / (Loss)	-3,007	-6,076	-3,941	-115	-240	-2,839	890	2,447	1,738	3,152
Depreciation Expense	3,955	3,244	2,883	1,883	2,122	2,074	1,528	1,703	2,046	2,487
Amortization Expense	-	-	-	-	-	-	-	0.00	0.00	35
Non-Cash Adjustments To Reconcile Net Income	2,327	1,474	4,803	481	338	2,621	451	662	514	412
Changes in Operating Assets and Liabilities, net	-1,307	2,153	-2,800	-310	-578	-523	21	-868	-356	-486
Net Cash From Investing Activities	-4,206	-2,090	1,358	-1,566	-2,843	-1,707	-1,325	-2,555	-4,113	-4,937
Net Cash From Continuing Investing Activities	-4,315	-2,090	1,358	-1,566	-2,843	-1,707	-1,325	-2,555	-4,113	-4,937
Purchase of Property, Plant & Equipment	-369	-277	-149	-243	-396	-301	-163	-238	-224	-306
Acquisitions	-3,952	-1,974	-1,788	-1,921	-2,466	-1,896	-1,584	-2,487	-3,884	-4,640
Divestitures	50	140	3,296	607	22	493	427	178	3.00	16
Other Investing Activities, net	-44	21	-1.00	-9.00	-3.00	-3.00	-5.00	-8.00	-8.00	-7.00
Net Cash From Financing Activities	2,497	1,311	-188	-2,526	52	568	-591	-1,616	-627	-1,180
Net Cash From Continuing Financing Activities	2,497	1,311	-188	-2,526	52	568	-591	-1,616	-627	-1,180
Repayment of Debt	30	-1,456	-638	-633	-37	130	-611	-620	315	-335
Repurchase of Common Equity	-142	0.00	-110	-1,365	-25	0.00	0.00	-630	-20	0.00
Payment of Dividends	2,009	-373	-606	-556	-669	-570	-975	-975	-1,089	-1,130
Issuance of Debt	600	1,496	800	28	792	1,000	750	420	0.00	275
Other Financing Activities, net	0.00	0.00	366	0.00	-9.00	8.00	245	189	167	10

This table details how cash moves in and out of Hess' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	225	102	-386	126	-208	-330	-250	587	-161	-693
Net Cash From Operating Activities	1,339	1,252	638	974	986	1,344	885	1,893	1,510	1,312
Net Cash From Continuing Operating Activities	1,339	1,252	638	974	986	1,344	885	1,893	1,510	1,312
Net Income / (Loss) Continuing Operations	606	582	428	205	602	503	1,067	851	594	640
Consolidated Net Income / (Loss)	606	582	428	205	602	503	1,067	851	594	640
Depreciation Expense	471	504	491	497	499	559	557	600	638	692
Non-Cash Adjustments To Reconcile Net Income	259	149	71	222	81	140	42	90	161	119
Changes in Operating Assets and Liabilities, net	3.00	17	-352	50	-196	142	-781	352	82	-139
Net Cash From Investing Activities	-727	-647	-841	-821	-1,004	-1,447	-958	-1,152	-1,086	-1,741
Net Cash From Continuing Investing Activities	-727	-647	-841	-821	-1,004	-1,447	-958	-1,152	-1,086	-1,741
Purchase of Property, Plant & Equipment	-66	-61	-64	-43	-53	-64	-55	-64	-92	-95
Acquisitions	-657	-732	-773	-778	-953	-1,380	-902	-1,087	-990	-1,661
Divestitures	-	150	-	-	-	-	-	-	-	15
Net Cash From Financing Activities	-387	-503	-183	-27	-190	-227	-177	-154	-585	-264
Net Cash From Continuing Financing Activities	-387	-503	-183	-27	-190	-227	-177	-154	-585	-264
Repayment of Debt	-66	-22	104	73	77	61	103	-466	-274	302
Payment of Dividends	-194	-195	-268	-266	-270	-285	-288	-288	-308	-246
Issuance of Debt	20	-	0.00	-	-	-	0.00	600	-	-325
Other Financing Activities, net	3.00	4.00	1.00	166	3.00	-3.00	8.00	-	-3.00	5.00

This table presents Hess' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	34,157	28,621	23,112	21,433	21,782	18,821	20,515	21,695	24,007	26,551
Total Current Assets	4,404	4,276	6,157	4,459	3,156	3,081	4,346	3,931	3,430	3,173
Cash & Equivalents	2,716	2,732	4,847	2,694	1,545	1,739	2,713	2,486	1,688	1,171
Accounts Receivable	1,159	1,026	1,024	230	230	150	149	121	150	196
Inventories, net	399	323	232	245	261	378	223	217	304	419
Other Current Assets	130	195	54	1,290	1,120	814	1,261	1,107	1,288	1,387
Plant, Property, & Equipment, net	26,352	23,595	16,192	16,083	16,814	14,115	14,182	15,098	17,432	19,921
Plant, Property & Equipment, gross	46,826	46,907	32,504	33,222	35,820	30,519	31,178	32,592	36,771	41,023
Accumulated Depreciation	20,474	23,312	16,312	17,139	19,006	16,404	16,996	17,494	19,339	21,102
Total Noncurrent Assets	3,401	750	763	891	1,812	1,625	1,987	2,666	3,145	3,457
Noncurrent Note & Lease Receivables	-	-	-	0.00	299	168	144	126	108	90
Goodwill	375	375	360	360	360	360	360	360	360	360
Noncurrent Deferred & Refundable Income Taxes	2,653	59	21	21	80	59	71	133	320	579
Employee Benefit Assets	-	-	-	-	-	45	409	648	685	655
Other Noncurrent Operating Assets	373	316	382	510	1,073	993	1,003	1,399	1,672	1,773
Total Liabilities & Shareholders' Equity	34,157	28,621	23,112	21,433	21,782	18,821	20,515	21,695	24,007	26,551
Total Liabilities	13,756	13,030	10,758	10,545	12,076	12,486	13,489	13,199	14,405	14,548
Total Current Liabilities	2,628	2,251	2,435	2,203	2,510	1,623	3,064	2,396	3,270	2,826
Short-Term Debt	86	112	580	67	199	91	606	224	681	369
Accounts Payable	457	433	435	495	411	200	220	285	402	417
Accrued Expenses	1,997	1,609	1,337	1,560	1,803	1,251	1,710	1,840	2,102	1,942
Current Deferred & Payable Income Tax Liabilities	88	97	83	81	97	81	528	47	85	98
Total Noncurrent Liabilities	11,128	10,779	8,323	8,342	9,566	10,863	10,425	10,803	11,135	11,722
Long-Term Debt	6,506	6,694	6,397	6,605	7,142	8,286	7,941	8,278	8,302	8,555
Asset Retirement Reserve & Litigation Obligation	2,158	1,912	753	741	897	894	1,005	1,034	1,186	1,377
Noncurrent Deferred & Payable Income Tax Liabilities	1,334	1,144	429	421	415	342	383	418	608	784
Other Noncurrent Operating Liabilities	1,130	1,029	744	575	1,112	1,341	1,096	1,073	1,039	1,006
Total Equity & Noncontrolling Interests	20,401	15,591	12,354	10,888	9,706	6,335	7,026	8,496	9,602	12,003
Total Preferred & Common Equity	19,386	14,534	11,051	9,629	8,732	5,366	6,300	7,855	8,986	11,216
Total Common Equity	19,386	14,533	11,050	9,628	8,732	5,366	6,300	7,855	8,986	11,216
Common Stock	4,413	6,090	6,139	5,677	5,896	5,991	6,327	6,512	6,802	6,924
Retained Earnings	16,637	10,147	5,597	4,257	3,535	130	379	1,474	2,318	4,500
Accumulated Other Comprehensive Income / (Loss)	-1,664	-1,704	-686	-306	-699	-755	-406	-131	-134	-208
Noncontrolling Interest	1,015	1,057	1,303	1,259	974	969	726	641	616	787

This table presents Hess' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	21,643	21,695	21,938	22,230	23,201	24,007	24,719	25,810	26,233	26,551
Total Current Assets	4,123	3,931	3,799	3,704	3,916	3,430	3,624	3,833	3,707	3,173
Cash & Equivalents	2,384	2,486	2,100	2,226	2,018	1,688	1,438	2,025	1,864	1,171
Accounts Receivable	134	121	143	151	174	150	165	198	189	196
Inventories, net	278	217	229	278	333	304	382	382	397	419
Other Current Assets	1,327	1,107	1,327	1,049	1,391	1,288	1,639	1,228	1,257	1,387
Plant, Property, & Equipment, net	15,092	15,098	15,412	15,741	16,421	17,432	17,827	18,429	18,963	19,921
Plant, Property & Equipment, gross	32,356	32,592	33,276	34,073	35,223	36,771	37,706	38,861	39,432	41,023
Accumulated Depreciation	17,264	17,494	17,864	18,332	18,802	19,339	19,879	20,432	20,469	21,102
Total Noncurrent Assets	2,428	2,666	2,727	2,785	2,864	3,145	3,268	3,548	3,563	3,457
Noncurrent Note & Lease Receivables	131	126	121	117	113	108	104	100	95	90
Goodwill	360	360	360	360	360	360	360	360	360	360
Noncurrent Deferred & Refundable Income Taxes	139	133	131	214	291	320	408	499	607	579
Employee Benefit Assets	617	648	663	664	668	685	695	689	634	655
Other Noncurrent Operating Assets	1,181	1,399	1,452	1,430	1,432	1,672	1,701	1,900	1,867	1,773
Total Liabilities & Shareholders' Equity	21,643	21,695	21,938	22,230	23,201	24,007	24,719	25,810	26,233	26,551
Total Liabilities	13,449	13,199	13,217	13,328	13,902	14,405	14,188	14,609	14,631	14,548
Total Current Liabilities	2,312	2,396	2,308	2,403	2,996	3,270	2,951	3,021	2,940	2,826
Short-Term Debt	121	224	242	230	507	681	679	671	342	369
Accounts Payable	321	285	344	350	426	402	403	434	391	417
Accrued Expenses	1,703	1,840	1,663	1,754	1,954	2,102	1,774	1,807	2,119	1,942
Current Deferred & Payable Income Tax Liabilities	167	47	59	69	109	85	95	109	88	98
Total Noncurrent Liabilities	11,137	10,803	10,909	10,925	10,906	11,135	11,237	11,588	11,691	11,722
Long-Term Debt	8,303	8,278	8,382	8,459	8,241	8,302	8,415	8,548	8,576	8,555
Asset Retirement Reserve & Litigation Obligation	1,062	1,034	1,050	960	1,113	1,186	1,192	1,252	1,335	1,377
Noncurrent Deferred & Payable Income Tax Liabilities	604	418	454	497	551	608	657	689	739	784
Other Noncurrent Operating Liabilities	1,168	1,073	1,023	1,009	1,001	1,039	973	1,099	1,041	1,006
Total Equity & Noncontrolling Interests	8,194	8,496	8,721	8,902	9,299	9,602	10,531	11,201	11,602	12,003
Total Preferred & Common Equity	7,559	7,855	8,133	8,272	8,631	8,986	9,868	10,487	10,821	11,216
Total Common Equity	7,559	7,855	8,133	8,272	8,631	8,986	9,868	10,487	10,821	11,216
Common Stock	6,535	6,512	6,561	6,749	6,784	6,802	6,853	6,874	6,895	6,924
Retained Earnings	1,354	1,474	1,686	1,670	2,039	2,318	3,149	3,771	4,115	4,500
Accumulated Other Comprehensive Income / (Loss)	-330	-131	-114	-147	-192	-134	-134	-158	-189	-208
Noncontrolling Interest	635	641	588	630	668	616	663	714	781	787

This table displays calculated financial ratios and metrics derived from Hess' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-42.64%	-26.25%	11.41%	19.94%	0.68%	-26.21%	55.56%	51.53%	-7.18%	22.69%
EBITDA Growth	-105.35%	-101.32%	-374.59%	186.42%	8.83%	-128.50%	550.90%	64.10%	-21.33%	61.35%
EBIT Growth	-274.79%	9.49%	-49.92%	110.71%	-2.91%	-574.21%	169.16%	104.92%	-38.82%	92.88%
NOPAT Growth	-276.16%	9.49%	-49.92%	92.00%	-101.71%	-205.67%	156.59%	138.03%	-38.78%	104.40%
Net Income Growth	-226.66%	-102.06%	35.14%	97.08%	-108.70%	-1,082.92%	131.35%	174.94%	-28.97%	81.36%
EPS Growth	-243.16%	-84.79%	34.14%	91.62%	-24.55%	-640.88%	117.83%	274.03%	-33.68%	100.00%
Operating Cash Flow Growth	-55.55%	-59.87%	18.87%	105.19%	-15.32%	-18.82%	116.80%	36.47%	-0.05%	42.06%
Free Cash Flow Firm Growth	-130.34%	237.26%	-40.63%	-162.09%	-82.64%	141.44%	132.57%	-16.65%	-171.47%	168.08%
Invested Capital Growth	-6.13%	-19.00%	-26.35%	2.64%	4.28%	-16.31%	-0.87%	12.85%	16.43%	16.92%
Revenue Q/Q Growth	-22.20%	-0.12%	-1.64%	6.44%	0.91%	-6.32%	10.79%	7.49%	0.74%	1.44%
EBITDA Q/Q Growth	-117.53%	37.05%	-44.39%	877.02%	-10.93%	-86.54%	48.83%	6.65%	-9.98%	5.30%
EBIT Q/Q Growth	-100.94%	12.96%	-15.33%	126.70%	-39.17%	-10.04%	168.16%	6.65%	-18.37%	4.36%
NOPAT Q/Q Growth	-100.94%	12.96%	-15.33%	80.06%	-893.77%	-10.04%	192.95%	3.51%	-16.23%	2.97%
Net Income Q/Q Growth	-147.49%	-104.10%	36.48%	95.87%	-943.48%	5.21%	75.54%	10.18%	-4.35%	4.54%
EPS Q/Q Growth	-151.87%	-88.46%	35.50%	88.55%	-98.55%	4.15%	178.46%	12.46%	-5.87%	4.78%
Operating Cash Flow Q/Q Growth	-18.54%	-27.20%	1.83%	38.40%	-26.60%	17.65%	16.67%	9.83%	2.39%	-0.57%
Free Cash Flow Firm Q/Q Growth	-8.17%	199.67%	-56.29%	-131.26%	-190.45%	178.18%	-35.90%	30.38%	-538.13%	-21.16%
Invested Capital Q/Q Growth	-6.27%	-20.46%	-22.20%	0.88%	2.57%	-7.23%	3.44%	1.95%	5.42%	5.90%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	80.28%	78.03%	76.50%	72.61%	73.33%	100.00%	72.78%	70.61%	74.01%	79.68%
EBITDA Margin	-4.62%	-12.61%	-53.70%	38.69%	41.83%	-16.15%	46.82%	50.71%	42.97%	56.51%
Operating Margin	-64.90%	-79.64%	-107.18%	9.57%	9.23%	-59.33%	25.29%	34.39%	22.25%	36.02%
EBIT Margin	-64.90%	-79.64%	-107.18%	9.57%	9.23%	-59.33%	26.37%	35.67%	23.51%	36.96%
Profit (Net Income) Margin	-45.83%	-125.56%	-73.10%	-1.78%	-3.69%	-59.10%	11.91%	21.61%	16.54%	24.44%
Tax Burden Percent	70.62%	157.65%	68.21%	-52.27%	-108.60%	99.61%	59.73%	69.01%	70.34%	72.39%
Interest Burden Percent	100.00%	100.00%	100.00%	35.54%	36.77%	100.00%	75.60%	87.79%	100.00%	91.36%
Effective Tax Rate	0.00%	0.00%	0.00%	152.27%	208.60%	0.00%	40.27%	30.99%	29.66%	27.61%
Return on Invested Capital (ROIC)	-11.89%	-12.28%	-23.69%	-2.20%	-4.30%	-14.01%	8.74%	19.63%	10.48%	18.35%
ROIC Less NNEP Spread (ROIC-NNEP)	-12.60%	-97.27%	-20.35%	4.62%	4.15%	-27.59%	4.91%	15.58%	11.87%	15.55%
Return on Net Nonoperating Assets (RNNOA)	-2.19%	-21.48%	-4.52%	1.22%	1.97%	-21.38%	4.58%	11.90%	8.73%	10.83%
Return on Equity (ROE)	-14.08%	-33.76%	-28.21%	-0.99%	-2.33%	-35.40%	13.32%	31.53%	19.21%	29.18%
Cash Return on Invested Capital (CROIC)	-5.56%	8.71%	6.66%	-4.81%	-8.49%	3.75%	9.62%	7.56%	-4.71%	2.75%
Operating Return on Assets (OROA)	-11.74%	-12.28%	-22.34%	2.78%	2.78%	-14.04%	10.02%	19.14%	10.81%	18.85%
Return on Assets (ROA)	-8.29%	-19.36%	-15.24%	-0.52%	-1.11%	-13.98%	4.53%	11.59%	7.61%	12.47%
Return on Common Equity (ROCE)	-13.71%	-31.82%	-25.82%	-0.88%	-2.08%	-31.11%	11.63%	28.75%	17.87%	27.28%
Return on Equity Simple (ROE_SIMPLE)	-15.51%	-41.81%	-35.66%	-1.19%	-2.75%	-52.91%	14.13%	31.15%	19.34%	28.10%
Net Operating Profit after Tax (NOPAT)	-2,981	-2,698	-4,045	-324	-653	-1,995	1,129	2,687	1,645	3,363
NOPAT Margin	-45.43%	-55.75%	-75.03%	-5.00%	-10.03%	-41.53%	15.11%	23.73%	15.65%	26.08%
Net Nonoperating Expense Percent (NNEP)	0.71%	84.99%	-3.34%	-6.83%	-8.44%	13.58%	3.83%	4.05%	-1.40%	2.80%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	15.81%	8.85%	16.07%
Cost of Revenue to Revenue	19.72%	21.97%	23.50%	27.39%	26.67%	0.00%	27.22%	29.39%	25.99%	20.32%
SG&A Expenses to Revenue	39.41%	47.32%	34.59%	7.32%	6.10%	32.79%	21.00%	17.51%	21.91%	19.02%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	145.18%	157.68%	183.68%	63.04%	64.10%	159.33%	47.49%	36.22%	51.76%	43.66%
Earnings before Interest and Taxes (EBIT)	-4,258	-3,854	-5,778	619	601	-2,850	1,971	4,039	2,471	4,766
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-303	-610	-2,895	2,502	2,723	-776	3,499	5,742	4,517	7,288
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.62	1.20	1.23	1.15	2.18	2.89	3.53	5.43	4.86	3.65
Price to Tangible Book Value (P/TBV)	0.63	1.23	1.28	1.19	2.27	3.10	3.74	5.69	5.06	3.78
Price to Revenue (P/Rev)	1.83	3.60	2.53	1.71	2.92	3.23	2.98	3.76	4.16	3.18
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	39.77	20.33	31.61	14.80
Dividend Yield	2.38%	1.82%	2.33%	2.68%	1.60%	1.98%	1.39%	1.09%	1.23%	1.41%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.51%	4.92%	3.16%	6.76%
Enterprise Value to Invested Capital (EV/IC)	0.70	1.15	1.18	1.09	1.66	1.78	2.24	3.40	3.05	2.51
Enterprise Value to Revenue (EV/Rev)	2.58	4.66	3.17	2.52	3.96	4.81	3.85	4.35	4.91	3.84
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	6.51	9.48	0.00	8.23	8.58	11.42	6.80
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	26.29	42.94	0.00	14.61	12.20	20.88	10.39
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	25.50	18.34	31.36	14.73
Enterprise Value to Operating Cash Flow (EV/OCF)	8.54	28.37	18.06	8.39	15.72	17.35	9.96	12.49	13.09	8.84
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	11.78	15.02	0.00	0.00	43.30	23.18	47.60	0.00	98.33
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.32	0.44	0.56	0.61	0.76	1.32	1.22	1.00	0.94	0.74
Long-Term Debt to Equity	0.32	0.43	0.52	0.61	0.74	1.31	1.13	0.97	0.86	0.71
Financial Leverage	0.17	0.22	0.22	0.26	0.47	0.78	0.93	0.76	0.74	0.70
Leverage Ratio	1.70	1.74	1.85	1.92	2.10	2.53	2.94	2.72	2.53	2.34
Compound Leverage Factor	1.70	1.74	1.85	0.68	0.77	2.53	2.23	2.39	2.53	2.14
Debt to Total Capital	24.42%	30.39%	36.09%	38.00%	43.06%	56.94%	54.88%	50.02%	48.33%	42.64%
Short-Term Debt to Total Capital	0.32%	0.50%	3.00%	0.38%	1.17%	0.62%	3.89%	1.32%	3.66%	1.76%
Long-Term Debt to Total Capital	24.10%	29.89%	33.09%	37.61%	41.90%	56.32%	50.99%	48.70%	44.67%	40.88%
Preferred Equity to Total Capital	0.00%	0.00%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	3.76%	4.72%	6.74%	7.17%	5.71%	6.59%	4.66%	3.77%	3.31%	3.76%
Common Equity to Total Capital	71.82%	64.89%	57.16%	54.83%	51.22%	36.47%	40.45%	46.21%	48.35%	53.60%
Debt to EBITDA	-21.76	-11.16	-2.41	2.67	2.70	-10.80	2.44	1.48	1.99	1.22
Net Debt to EBITDA	-12.79	-6.68	-0.74	1.59	2.13	-8.55	1.67	1.05	1.62	1.06
Long-Term Debt to EBITDA	-21.47	-10.97	-2.21	2.64	2.62	-10.68	2.27	1.44	1.84	1.17
Debt to NOPAT	-2.21	-2.52	-1.73	-20.62	-11.25	-4.20	7.57	3.16	5.46	2.65
Net Debt to NOPAT	-1.30	-1.51	-0.53	-12.29	-8.88	-3.33	5.17	2.24	4.43	2.31
Long-Term Debt to NOPAT	-2.18	-2.48	-1.58	-20.41	-10.94	-4.15	7.03	3.08	5.05	2.54
Altman Z-Score	1.05	1.11	0.70	1.43	1.60	0.60	1.77	3.25	2.74	3.02
Noncontrolling Interest Sharing Ratio	2.65%	5.76%	8.45%	11.03%	10.85%	12.11%	12.69%	8.81%	6.95%	6.49%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.68	1.90	2.53	2.02	1.26	1.90	1.42	1.64	1.05	1.12
Quick Ratio	1.47	1.67	2.41	1.33	0.71	1.16	0.93	1.09	0.56	0.48
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,395	1,914	1,136	-706	-1,289	534	1,242	1,035	-740	504
Operating Cash Flow to CapEx	536.86%	287.00%	634.23%	797.94%	414.65%	442.86%	1,773.01%	1,657.14%	1,759.82%	1,830.07%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-1.77	-3.39	0.00	2.58	2.10	0.00	1.22
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	4.86	4.32	0.00	6.01	8.00	0.00	13.59
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	4.25	3.28	0.00	5.67	7.52	0.00	12.85
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.18	0.15	0.21	0.29	0.30	0.24	0.38	0.54	0.46	0.51
Accounts Receivable Turnover	4.06	4.43	5.26	10.31	28.30	25.28	49.99	83.88	77.57	74.54
Inventory Turnover	2.79	2.94	4.57	7.43	6.86	0.00	6.77	15.13	10.49	7.25
Fixed Asset Turnover	0.24	0.19	0.27	0.40	0.40	0.31	0.53	0.77	0.65	0.69
Accounts Payable Turnover	2.22	2.39	2.92	3.81	3.83	0.00	9.69	13.18	7.95	6.40
Days Sales Outstanding (DSO)	89.90	82.41	69.40	35.39	12.90	14.44	7.30	4.35	4.71	4.90
Days Inventory Outstanding (DIO)	130.60	123.96	79.94	49.15	53.19	0.00	53.92	24.13	34.80	50.36
Days Payable Outstanding (DPO)	164.31	152.80	125.03	95.84	95.24	0.00	37.68	27.69	45.89	57.05
Cash Conversion Cycle (CCC)	56.19	53.56	24.31	-11.29	-29.16	14.44	23.54	0.79	-6.38	-1.79
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	24,277	19,665	14,484	14,866	15,502	12,973	12,860	14,512	16,897	19,756
Invested Capital Turnover	0.26	0.22	0.32	0.44	0.43	0.34	0.58	0.83	0.67	0.70
Increase / (Decrease) in Invested Capital	-1,586	-4,612	-5,181	382	636	-2,529	-113	1,652	2,385	2,859
Enterprise Value (EV)	16,919	22,557	17,064	16,275	25,809	23,121	28,792	49,275	51,599	49,523
Market Capitalization	12,028	17,425	13,630	11,037	19,039	15,514	22,232	42,618	43,688	40,983
Book Value per Share	$67.76	$45.90	$34.78	$32.50	$28.66	$17.47	$20.34	$25.48	$29.26	$36.40
Tangible Book Value per Share	$66.45	$44.72	$33.64	$31.28	$27.48	$16.30	$19.18	$24.31	$28.08	$35.23
Total Capital	26,993	22,397	19,331	17,560	17,047	14,712	15,573	16,998	18,585	20,927
Total Debt	6,592	6,806	6,977	6,672	7,341	8,377	8,547	8,502	8,983	8,924
Total Long-Term Debt	6,506	6,694	6,397	6,605	7,142	8,286	7,941	8,278	8,302	8,555
Net Debt	3,876	4,074	2,130	3,978	5,796	6,638	5,834	6,016	7,295	7,753
Capital Expenditures (CapEx)	369	277	149	243	396	301	163	238	224	306
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-854	-595	-545	-371	-700	-190	-825	-727	-847	-455
Debt-free Net Working Capital (DFNWC)	1,862	2,137	4,302	2,323	845	1,549	1,888	1,759	841	716
Net Working Capital (NWC)	1,776	2,025	3,722	2,256	646	1,458	1,282	1,535	160	347
Net Nonoperating Expense (NNE)	26	3,378	-104	-209	-413	844	239	240	-93	211
Net Nonoperating Obligations (NNO)	3,876	4,074	2,130	3,978	5,796	6,638	5,834	6,016	7,295	7,753
Total Depreciation and Amortization (D&A)	3,955	3,244	2,883	1,883	2,122	2,074	1,528	1,703	2,046	2,522
Debt-free, Cash-free Net Working Capital to Revenue	-13.02%	-12.30%	-10.11%	-5.74%	-10.75%	-3.96%	-11.04%	-6.42%	-8.06%	-3.53%
Debt-free Net Working Capital to Revenue	28.38%	44.16%	79.80%	35.93%	12.98%	32.24%	25.26%	15.53%	8.00%	5.55%
Net Working Capital to Revenue	27.07%	41.85%	69.04%	34.89%	9.92%	30.35%	17.16%	13.56%	1.52%	2.69%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($10.78)	($19.92)	($13.12)	($1.10)	($1.37)	($10.15)	$1.82	$6.80	$4.52	$9.03
Adjusted Weighted Average Basic Shares Outstanding	315.24M	316.52M	315.05M	303.03M	305.21M	306.99M	307.40M	308.10M	305.90M	306.80M
Adjusted Diluted Earnings per Share	($10.78)	($19.92)	($13.12)	($1.10)	($1.37)	($10.15)	$1.81	$6.77	$4.49	$8.98
Adjusted Weighted Average Diluted Shares Outstanding	283.60M	309.90M	314.10M	298.20M	301.20M	304.80M	309.30M	309.60M	307.60M	308.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	315.24M	316.52M	315.05M	303.03M	305.21M	306.99M	309.75M	306.18M	307.15M	308.29M
Normalized Net Operating Profit after Tax (NOPAT)	-1,849	-2,547	-1,103	1,227	1,287	-507	1,199	2,655	1,701	3,457
Normalized NOPAT Margin	-28.19%	-52.64%	-20.45%	18.98%	19.76%	-10.55%	16.05%	23.44%	16.19%	26.81%
Pre Tax Income Margin	-64.90%	-79.64%	-107.18%	3.40%	3.39%	-59.33%	19.94%	31.31%	23.51%	33.76%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	1.55	1.58	0.00	4.10	8.19	0.00	11.57
NOPAT to Interest Expense	0.00	0.00	0.00	-0.81	-1.72	0.00	2.35	5.45	0.00	8.16
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.94	0.54	0.00	3.76	7.71	0.00	10.83
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	-1.42	-2.76	0.00	2.01	4.97	0.00	7.42
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	66.81%	-6.14%	-15.38%	-483.48%	-278.75%	-20.08%	109.55%	39.84%	62.66%	35.85%
Augmented Payout Ratio	62.09%	-6.14%	-18.17%	-1,670.43%	-289.17%	-20.08%	109.55%	65.59%	63.81%	35.85%

This table displays calculated financial ratios and metrics derived from Hess' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	72.39%	36.78%	4.24%	-22.54%	-10.31%	2.62%	37.25%	39.89%	13.96%	6.08%
EBITDA Growth	119.20%	18.81%	-5.77%	-33.20%	-11.32%	-30.87%	80.09%	77.54%	21.73%	72.19%
EBIT Growth	208.84%	15.60%	-26.79%	-54.99%	-19.35%	-49.69%	134.27%	135.52%	17.99%	120.25%
NOPAT Growth	260.77%	17.99%	-29.84%	-65.06%	-13.67%	-44.71%	161.87%	216.93%	14.42%	110.66%
Net Income Growth	227.57%	63.48%	-15.25%	-72.81%	-0.66%	-13.57%	149.30%	315.12%	-1.33%	27.24%
EPS Growth	351.35%	87.21%	-15.67%	-81.86%	-1.80%	-17.39%	179.65%	530.77%	-1.22%	30.83%
Operating Cash Flow Growth	117.72%	39.27%	508.97%	-35.45%	-26.36%	7.35%	38.71%	94.35%	53.14%	-2.38%
Free Cash Flow Firm Growth	-165.32%	-230.07%	-9,727.49%	-18.62%	-7.42%	-112.49%	-69.30%	-108.51%	-61.45%	-1.81%
Invested Capital Growth	14.49%	12.85%	11.07%	9.40%	12.61%	16.43%	19.30%	19.72%	16.39%	16.92%
Revenue Q/Q Growth	5.65%	-6.02%	-17.83%	-5.06%	22.32%	7.54%	9.90%	-3.23%	-0.34%	0.09%
EBITDA Q/Q Growth	0.75%	9.37%	-32.53%	-10.14%	33.74%	-14.74%	23.25%	-11.41%	-8.30%	20.60%
EBIT Q/Q Growth	-6.38%	10.46%	-46.02%	-19.37%	67.76%	-31.09%	35.93%	-18.94%	-15.95%	28.63%
NOPAT Q/Q Growth	-8.96%	7.26%	-44.37%	-35.69%	124.99%	-31.31%	39.65%	-22.17%	-18.77%	26.46%
Net Income Q/Q Growth	-19.63%	-3.96%	-26.46%	-52.10%	193.66%	-16.45%	112.13%	-20.24%	-30.20%	7.74%
EPS Q/Q Growth	-22.33%	-3.59%	-29.81%	-65.49%	320.51%	-18.90%	137.59%	-22.15%	-34.15%	7.41%
Operating Cash Flow Q/Q Growth	-11.27%	-6.50%	-49.04%	52.66%	1.23%	36.31%	-34.15%	113.90%	-20.23%	-13.11%
Free Cash Flow Firm Q/Q Growth	-26.50%	17.49%	-19.83%	5.16%	-14.56%	-63.21%	-15.93%	-16.81%	11.30%	-2.92%
Invested Capital Q/Q Growth	1.35%	1.95%	5.05%	0.79%	4.32%	5.42%	7.63%	1.14%	1.42%	5.90%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	68.55%	72.02%	74.99%	76.10%	75.14%	70.57%	81.20%	80.26%	77.66%	79.56%
EBITDA Margin	47.53%	55.32%	45.42%	42.99%	47.00%	37.26%	59.60%	54.56%	50.20%	60.49%
Operating Margin	31.33%	36.64%	23.31%	19.92%	27.93%	17.90%	41.80%	34.17%	30.05%	37.85%
EBIT Margin	32.45%	38.14%	25.05%	21.28%	29.18%	18.70%	42.76%	35.82%	30.21%	38.82%
Profit (Net Income) Margin	19.41%	19.84%	17.75%	8.96%	21.50%	16.71%	32.25%	26.58%	18.61%	20.04%
Tax Burden Percent	68.24%	66.59%	70.86%	56.16%	73.68%	73.43%	75.41%	74.19%	68.75%	68.97%
Interest Burden Percent	87.66%	78.11%	100.00%	74.95%	100.00%	121.67%	100.00%	100.00%	89.63%	74.84%
Effective Tax Rate	31.76%	33.41%	29.14%	43.84%	26.32%	26.57%	24.59%	25.81%	31.25%	31.03%
Return on Invested Capital (ROIC)	16.89%	20.19%	13.02%	8.18%	14.19%	8.80%	21.51%	18.50%	15.15%	18.37%
ROIC Less NNEP Spread (ROIC-NNEP)	15.89%	17.93%	13.48%	7.38%	14.59%	10.41%	21.85%	19.08%	14.20%	15.79%
Return on Net Nonoperating Assets (RNNOA)	13.43%	13.69%	11.28%	5.65%	10.65%	7.66%	16.09%	12.96%	9.36%	11.00%
Return on Equity (ROE)	30.32%	33.87%	24.31%	13.83%	24.84%	16.45%	37.60%	31.47%	24.51%	29.37%
Cash Return on Invested Capital (CROIC)	5.95%	7.56%	6.91%	4.95%	1.12%	-4.71%	-1.84%	0.89%	3.68%	2.75%
Operating Return on Assets (OROA)	16.62%	20.46%	13.71%	10.54%	13.58%	8.60%	20.91%	18.38%	15.54%	19.81%
Return on Assets (ROA)	9.94%	10.64%	9.72%	4.44%	10.01%	7.68%	15.77%	13.63%	9.57%	10.22%
Return on Common Equity (ROCE)	27.63%	30.89%	22.26%	12.79%	22.99%	15.31%	35.16%	29.36%	22.81%	27.46%
Return on Equity Simple (ROE_SIMPLE)	29.38%	0.00%	29.14%	22.01%	21.05%	0.00%	24.09%	28.83%	27.86%	0.00%
Net Operating Profit after Tax (NOPAT)	667	716	398	256	576	396	1,043	812	659	834
NOPAT Margin	21.38%	24.40%	16.52%	11.19%	20.58%	13.14%	31.52%	25.35%	20.66%	26.11%
Net Nonoperating Expense Percent (NNEP)	1.01%	2.26%	-0.45%	0.80%	-0.40%	-1.61%	-0.34%	-0.58%	0.95%	2.58%
Return On Investment Capital (ROIC_SIMPLE)	-	4.21%	-	-	-	2.13%	-	-	-	3.98%
Cost of Revenue to Revenue	31.45%	27.98%	25.01%	23.90%	24.86%	29.43%	18.80%	19.74%	22.34%	20.44%
SG&A Expenses to Revenue	16.24%	20.52%	21.48%	24.55%	20.79%	21.29%	16.20%	18.89%	20.21%	20.88%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	37.22%	35.38%	51.68%	56.18%	47.21%	52.67%	39.41%	46.10%	47.60%	41.70%
Earnings before Interest and Taxes (EBIT)	1,013	1,119	604	487	817	563	1,415	1,147	964	1,240
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,484	1,623	1,095	984	1,316	1,122	1,972	1,747	1,602	1,932
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.37	5.43	4.91	4.99	5.37	4.86	4.74	4.33	3.87	3.65
Price to Tangible Book Value (P/TBV)	4.59	5.69	5.14	5.21	5.61	5.06	4.92	4.49	4.00	3.78
Price to Revenue (P/Rev)	3.14	3.76	3.50	3.84	4.44	4.16	4.10	3.69	3.29	3.18
Price to Earnings (P/E)	17.73	20.33	19.71	27.93	31.64	31.61	23.28	17.18	15.85	14.80
Dividend Yield	1.29%	1.09%	1.20%	1.21%	1.12%	1.23%	1.15%	1.19%	1.33%	1.41%
Earnings Yield	5.64%	4.92%	5.07%	3.58%	3.16%	3.16%	4.30%	5.82%	6.31%	6.76%
Enterprise Value to Invested Capital (EV/IC)	2.79	3.40	3.09	3.15	3.35	3.05	3.03	2.90	2.66	2.51
Enterprise Value to Revenue (EV/Rev)	3.77	4.35	4.12	4.50	5.15	4.91	4.83	4.33	3.91	3.84
Enterprise Value to EBITDA (EV/EBITDA)	7.38	8.58	8.29	9.32	10.72	11.42	9.38	8.04	7.18	6.80
Enterprise Value to EBIT (EV/EBIT)	10.49	12.20	12.32	15.00	17.77	20.88	14.64	12.07	10.88	10.39
Enterprise Value to NOPAT (EV/NOPAT)	15.30	18.34	18.66	23.61	27.38	31.36	20.90	16.78	15.21	14.73
Enterprise Value to Operating Cash Flow (EV/OCF)	11.06	12.49	9.93	11.50	13.97	13.09	13.14	10.45	8.82	8.84
Enterprise Value to Free Cash Flow (EV/FCFF)	50.03	47.60	47.01	66.44	318.46	0.00	0.00	354.10	77.76	98.33
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.03	1.00	0.99	0.98	0.94	0.94	0.86	0.82	0.77	0.74
Long-Term Debt to Equity	1.01	0.97	0.96	0.95	0.89	0.86	0.80	0.76	0.74	0.71
Financial Leverage	0.85	0.76	0.84	0.77	0.73	0.74	0.74	0.68	0.66	0.70
Leverage Ratio	2.85	2.72	2.65	2.61	2.56	2.53	2.42	2.39	2.37	2.34
Compound Leverage Factor	2.50	2.12	2.65	1.95	2.56	3.07	2.42	2.39	2.12	1.75
Debt to Total Capital	50.69%	50.02%	49.72%	49.39%	48.47%	48.33%	46.34%	45.15%	43.46%	42.64%
Short-Term Debt to Total Capital	0.73%	1.32%	1.40%	1.31%	2.81%	3.66%	3.46%	3.29%	1.67%	1.76%
Long-Term Debt to Total Capital	49.96%	48.70%	48.33%	48.09%	45.66%	44.67%	42.88%	41.86%	41.79%	40.88%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	3.82%	3.77%	3.39%	3.58%	3.70%	3.31%	3.38%	3.50%	3.81%	3.76%
Common Equity to Total Capital	45.49%	46.21%	46.89%	47.02%	47.83%	48.35%	50.28%	51.36%	52.73%	53.60%
Debt to EBITDA	1.56	1.48	1.52	1.68	1.74	1.99	1.55	1.39	1.29	1.22
Net Debt to EBITDA	1.12	1.05	1.15	1.25	1.34	1.62	1.30	1.08	1.02	1.06
Long-Term Debt to EBITDA	1.54	1.44	1.48	1.63	1.64	1.84	1.43	1.29	1.24	1.17
Debt to NOPAT	3.25	3.16	3.42	4.24	4.45	5.46	3.45	2.90	2.73	2.65
Net Debt to NOPAT	2.33	2.24	2.59	3.16	3.43	4.43	2.91	2.26	2.16	2.31
Long-Term Debt to NOPAT	3.20	3.08	3.33	4.13	4.20	5.05	3.19	2.69	2.63	2.54
Altman Z-Score	2.30	2.81	2.61	2.59	2.74	2.48	2.84	2.73	2.58	2.58
Noncontrolling Interest Sharing Ratio	8.87%	8.81%	8.42%	7.52%	7.45%	6.95%	6.50%	6.69%	6.93%	6.49%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.78	1.64	1.65	1.54	1.31	1.05	1.23	1.27	1.26	1.12
Quick Ratio	1.09	1.09	0.97	0.99	0.73	0.56	0.54	0.74	0.70	0.48
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,135	-936	-1,122	-1,064	-1,219	-1,989	-1,899	-2,218	-1,968	-2,025
Operating Cash Flow to CapEx	2,028.79%	2,052.46%	996.88%	2,265.12%	1,860.38%	2,100.00%	1,609.09%	2,957.81%	1,641.30%	1,381.05%
Free Cash Flow to Firm to Interest Expense	-9.08	0.00	0.00	-8.72	0.00	0.00	0.00	0.00	-19.68	0.00
Operating Cash Flow to Interest Expense	10.71	0.00	0.00	7.98	0.00	0.00	0.00	0.00	15.10	0.00
Operating Cash Flow Less CapEx to Interest Expense	10.18	0.00	0.00	7.63	0.00	0.00	0.00	0.00	14.18	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.51	0.54	0.55	0.50	0.47	0.46	0.49	0.51	0.51	0.51
Accounts Receivable Turnover	70.70	83.88	81.88	73.67	67.75	77.57	74.08	70.61	70.04	74.54
Inventory Turnover	16.82	15.13	13.77	9.93	8.73	10.49	9.00	8.59	7.82	7.25
Fixed Asset Turnover	0.73	0.77	0.76	0.70	0.66	0.65	0.69	0.72	0.72	0.69
Accounts Payable Turnover	17.10	13.18	9.91	8.33	7.14	7.95	7.37	7.23	6.98	6.40
Days Sales Outstanding (DSO)	5.16	4.35	4.46	4.95	5.39	4.71	4.93	5.17	5.21	4.90
Days Inventory Outstanding (DIO)	21.70	24.13	26.51	36.77	41.81	34.80	40.53	42.47	46.70	50.36
Days Payable Outstanding (DPO)	21.34	27.69	36.85	43.82	51.12	45.89	49.56	50.45	52.26	57.05
Cash Conversion Cycle (CCC)	5.52	0.79	-5.88	-2.09	-3.92	-6.38	-4.10	-2.81	-0.35	-1.79
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	14,234	14,512	15,245	15,365	16,029	16,897	18,187	18,395	18,656	19,756
Invested Capital Turnover	0.79	0.83	0.79	0.73	0.69	0.67	0.68	0.73	0.73	0.70
Increase / (Decrease) in Invested Capital	1,802	1,652	1,520	1,320	1,795	2,385	2,942	3,030	2,627	2,859
Enterprise Value (EV)	39,720	49,275	47,033	48,352	53,776	51,599	55,060	53,361	49,677	49,523
Market Capitalization	33,045	42,618	39,921	41,259	46,378	43,688	46,741	45,453	41,842	40,983
Book Value per Share	$24.41	$25.48	$26.56	$26.94	$28.11	$29.26	$32.21	$34.04	$35.12	$36.40
Tangible Book Value per Share	$23.25	$24.31	$25.39	$25.77	$26.94	$28.08	$31.03	$32.87	$33.95	$35.23
Total Capital	16,618	16,998	17,345	17,591	18,047	18,585	19,625	20,420	20,520	20,927
Total Debt	8,424	8,502	8,624	8,689	8,748	8,983	9,094	9,219	8,918	8,924
Total Long-Term Debt	8,303	8,278	8,382	8,459	8,241	8,302	8,415	8,548	8,576	8,555
Net Debt	6,040	6,016	6,524	6,463	6,730	7,295	7,656	7,194	7,054	7,753
Capital Expenditures (CapEx)	66	61	64	43	53	64	55	64	92	95
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-452	-727	-367	-695	-591	-847	-86	-542	-755	-455
Debt-free Net Working Capital (DFNWC)	1,932	1,759	1,733	1,531	1,427	841	1,352	1,483	1,109	716
Net Working Capital (NWC)	1,811	1,535	1,491	1,301	920	160	673	812	767	347
Net Nonoperating Expense (NNE)	61	134	-30	51	-26	-107	-24	-39	65	194
Net Nonoperating Obligations (NNO)	6,040	6,016	6,524	6,463	6,730	7,295	7,656	7,194	7,054	7,753
Total Depreciation and Amortization (D&A)	471	504	491	497	499	559	557	600	638	692
Debt-free, Cash-free Net Working Capital to Revenue	-4.29%	-6.42%	-3.21%	-6.46%	-5.66%	-8.06%	-0.75%	-4.40%	-5.94%	-3.53%
Debt-free Net Working Capital to Revenue	18.34%	15.53%	15.17%	14.23%	13.68%	8.00%	11.85%	12.04%	8.72%	5.55%
Net Working Capital to Revenue	17.19%	13.56%	13.05%	12.10%	8.82%	1.52%	5.90%	6.59%	6.03%	2.69%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.67	$1.63	$1.13	$0.39	$1.65	$1.35	$3.17	$2.47	$1.62	$1.77
Adjusted Weighted Average Basic Shares Outstanding	307.60M	308.10M	305.40M	306M	306.10M	305.90M	306.40M	306.90M	306.90M	306.80M
Adjusted Diluted Earnings per Share	$1.67	$1.61	$1.13	$0.39	$1.64	$1.33	$3.16	$2.46	$1.62	$1.74
Adjusted Weighted Average Diluted Shares Outstanding	308.90M	309.60M	307.30M	307.50M	307.70M	307.60M	307.90M	308.30M	308.30M	308.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	308.31M	306.18M	307.05M	307.06M	307.15M	307.15M	308.11M	308.11M	308.12M	308.29M
Normalized Net Operating Profit after Tax (NOPAT)	704	665	398	302	575	396	1,043	812	749	834
Normalized NOPAT Margin	22.56%	22.67%	16.52%	13.20%	20.53%	13.14%	31.52%	25.35%	23.48%	26.11%
Pre Tax Income Margin	28.44%	29.79%	25.05%	15.95%	29.18%	22.75%	42.76%	35.82%	27.08%	29.05%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.10	0.00	0.00	3.99	0.00	0.00	0.00	0.00	9.64	0.00
NOPAT to Interest Expense	5.34	0.00	0.00	2.10	0.00	0.00	0.00	0.00	6.59	0.00
EBIT Less CapEx to Interest Expense	7.58	0.00	0.00	3.64	0.00	0.00	0.00	0.00	8.72	0.00
NOPAT Less CapEx to Interest Expense	4.81	0.00	0.00	1.75	0.00	0.00	0.00	0.00	5.67	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	41.96%	39.84%	44.30%	50.69%	54.98%	62.66%	46.66%	37.41%	38.77%	35.85%
Augmented Payout Ratio	57.27%	65.59%	71.73%	75.95%	72.04%	63.81%	46.66%	37.41%	38.77%	35.85%

Frequently Asked Questions About Hess' Financials

When does Hess's fiscal year end?

According to the most recent income statement we have on file, Hess' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Hess' net income changed over the last 9 years?

Hess' net income appears to be on a downward trend, with a most recent value of $3.15 billion in 2024, falling from -$3.01 billion in 2015. The previous period was $1.74 billion in 2023.

What is Hess's operating income?

Hess's total operating income in 2024 was $4.65 billion, based on the following breakdown:

Total Gross Profit: $10.28 billion
Total Operating Expenses: $5.63 billion

How has Hess revenue changed over the last 9 years?

Over the last 9 years, Hess' total revenue changed from $6.56 billion in 2015 to $12.90 billion in 2024, a change of 96.6%.

How much debt does Hess have?

Hess' total liabilities were at $14.55 billion at the end of 2024, a 1.0% increase from 2023, and a 5.8% increase since 2015.

How much cash does Hess have?

In the past 9 years, Hess' cash and equivalents has ranged from $1.17 billion in 2024 to $4.85 billion in 2017, and is currently $1.17 billion as of their latest financial filing in 2024.

How has Hess' book value per share changed over the last 9 years?

Over the last 9 years, Hess' book value per share changed from 67.76 in 2015 to 36.40 in 2024, a change of -46.3%.

Remove Ads

Related Companies

This page (NYSE:HES) was last updated on 4/15/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Hess (HES) Financials

Frequently Asked Questions About Hess' Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Hess (HES) Financials

Annual Income Statements for Hess

Quarterly Income Statements for Hess

Annual Cash Flow Statements for Hess

Quarterly Cash Flow Statements for Hess

Annual Balance Sheets for Hess

Quarterly Balance Sheets for Hess

Annual Metrics and Ratios for Hess

Quarterly Metrics and Ratios for Hess

Frequently Asked Questions About Hess' Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools