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Hess Midstream LP cash flow statement

In fiscal 2025, Hess Midstream LP's operations generated $984m of cash; it spent $256m on capital projects, leaving free cash flow of $728m. It returned $400m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations3374674716427968618669409841,036
Depreciation and amortisation117127143157166181193203214224
Stock-based pay0122122221
Capital spending144242306301163238224306256199
Free cash flow192225164341632623643634728838
Free cash flow after stock pay192224163339631621641632727837
Share buybacks————750400400300400160

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Hess Midstream LP's SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Hess Midstream LP.