MPLX vs. HESM

Last updated Apr 1, 2026

Compare and contrast key facts about MPLX LP (MPLX) and Hess Midstream LP (HESM).

Performance

MPLX vs. HESM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MPLX LP (MPLX) and Hess Midstream LP (HESM). The values are adjusted to include any dividend payments, if applicable.

MPLX vs. HESM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MPLX MPLX LP	9.03%	20.54%	41.72%	22.46%	21.09%	53.92%	-1.79%	-8.25%	-8.43%	0.91%
HESM Hess Midstream LP	15.11%	0.56%	26.41%	14.36%	16.62%	52.91%	-5.29%	43.83%	-8.61%	-20.37%

Fundamentals

EPS MPLX : $7.24 HESM : $2.78
PE Ratio MPLX : 7.88 HESM : 14.01
PEG Ratio MPLX : 0.14 HESM : 1.13
PS Ratio MPLX : 2.98 HESM : 3.05
Total Revenue (TTM) MPLX : $13.00B HESM : $1.62B
Gross Profit (TTM) MPLX : $4.69B HESM : $1.21B
EBITDA (TTM) MPLX : $6.31B HESM : $1.24B

Returns By Period

In the year-to-date period, MPLX achieves a 9.03% return, which is significantly lower than HESM's 15.11% return.

MPLX

• 1D: -1.04%
• 1M: -3.17%
• YTD: 9.03%
• 6M: 18.98%
• 1Y: 15.36%
• 3Y*: 28.58%
• 5Y*: 27.90%
• 10Y*: 17.19%

HESM

• 1D: -1.59%
• 1M: 0.49%
• YTD: 15.11%
• 6M: 17.56%
• 1Y: -0.34%
• 3Y*: 19.30%
• 5Y*: 19.49%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

MPLX vs. HESM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MPLX

MPLX Risk / Return Rank: 66
MPLX Sharpe Ratio Rank: 70
MPLX Sortino Ratio Rank: 61
MPLX Omega Ratio Rank: 61
MPLX Calmar Ratio Rank: 65
MPLX Martin Ratio Rank: 73

HESM

HESM Risk / Return Rank: 38
HESM Sharpe Ratio Rank: 41
HESM Sortino Ratio Rank: 34
HESM Omega Ratio Rank: 34
HESM Calmar Ratio Rank: 41
HESM Martin Ratio Rank: 41

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MPLX vs. HESM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MPLX LP (MPLX) and Hess Midstream LP (HESM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	MPLX	HESM	Difference
Sharpe ratio Return per unit of total volatility	0.82	-0.01	+0.83
Sortino ratio Return per unit of downside risk	1.19	0.16	+1.03
Omega ratio Gain probability vs. loss probability	1.16	1.02	+0.13
Calmar ratio Return relative to maximum drawdown	1.07	-0.03	+1.10
Martin ratio Return relative to average drawdown	3.80	-0.06	+3.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MPLX vs. HESM - Sharpe Ratio Comparison

The current MPLX Sharpe Ratio is 0.82, which is higher than the HESM Sharpe Ratio of -0.01. The chart below compares the historical Sharpe Ratios of MPLX and HESM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MPLX	HESM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.82	-0.01	+0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.44	0.72	+0.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.33	+0.06

Correlation

The correlation between MPLX and HESM is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MPLX vs. HESM - Dividend Comparison

MPLX's dividend yield for the trailing twelve months is around 7.12%, less than HESM's 7.63% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MPLX MPLX LP	7.12%	7.39%	7.33%	8.65%	8.80%	11.30%	12.70%	10.41%	8.22%	6.23%	5.86%	4.33%
HESM Hess Midstream LP	7.63%	8.41%	7.12%	7.50%	7.30%	6.93%	8.86%	6.89%	8.00%	2.93%	0.00%	0.00%

Drawdowns

MPLX vs. HESM - Drawdown Comparison

The maximum MPLX drawdown since its inception was -85.72%, which is greater than HESM's maximum drawdown of -75.16%. Use the drawdown chart below to compare losses from any high point for MPLX and HESM.

Drawdown Indicators

	MPLX	HESM	Difference
Max Drawdown Largest peak-to-trough decline	-85.72%	-75.16%	-10.56%
Max Drawdown (1Y) Largest decline over 1 year	-13.38%	-25.78%	+12.40%
Max Drawdown (5Y) Largest decline over 5 years	-18.46%	-28.72%	+10.26%
Max Drawdown (10Y) Largest decline over 10 years	-75.21%	—	—
Current Drawdown Current decline from peak	-3.55%	-5.01%	+1.46%
Average Drawdown Average peak-to-trough decline	-30.33%	-11.92%	-18.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	13.65%	-9.90%

Volatility

MPLX vs. HESM - Volatility Comparison

MPLX LP (MPLX) and Hess Midstream LP (HESM) have volatilities of 3.97% and 3.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MPLX	HESM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.97%	3.90%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	11.15%	12.90%	-1.75%
Volatility (1Y) Calculated over the trailing 1-year period	18.89%	26.75%	-7.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.54%	27.33%	-7.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.91%	39.04%	-8.13%

Financials

MPLX vs. HESM - Profitability Comparison

The chart below illustrates the profitability comparison between MPLX LP and Hess Midstream LP over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MPLX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, MPLX LP reported a gross profit of 0.00 and revenue of 3.70B. Therefore, the gross margin over that period was 0.0%.

HESM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Hess Midstream LP reported a gross profit of 257.20M and revenue of 404.20M. Therefore, the gross margin over that period was 63.6%.

MPLX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, MPLX LP reported an operating income of 1.48B and revenue of 3.70B, resulting in an operating margin of 40.0%.

HESM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Hess Midstream LP reported an operating income of 251.60M and revenue of 404.20M, resulting in an operating margin of 62.3%.

MPLX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, MPLX LP reported a net income of 1.20B and revenue of 3.70B, resulting in a net margin of 32.5%.

HESM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Hess Midstream LP reported a net income of 93.30M and revenue of 404.20M, resulting in a net margin of 23.1%.