WES vs. HESM
Compare and contrast key facts about Western Midstream Partners, LP (WES) and Hess Midstream LP (HESM).
Performance
WES vs. HESM - Performance Comparison
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WES vs. HESM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WES Western Midstream Partners, LP | 6.57% | 12.77% | 43.58% | 19.46% | 29.29% | 72.31% | -19.13% | -22.65% | -20.23% | -17.13% |
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
WES:
$16.57B
HESM:
$5.03B
WES:
$3.03
HESM:
$2.78
WES:
13.57
HESM:
14.01
WES:
0.98
HESM:
1.13
WES:
4.17
HESM:
3.05
WES:
3.98
HESM:
11.79
WES:
$3.84B
HESM:
$1.62B
WES:
$2.93B
HESM:
$1.21B
WES:
$2.11B
HESM:
$1.24B
Returns By Period
In the year-to-date period, WES achieves a 6.57% return, which is significantly lower than HESM's 15.11% return.
WES
- 1D
- -1.08%
- 1M
- -1.01%
- YTD
- 6.57%
- 6M
- 9.73%
- 1Y
- 10.36%
- 3Y*
- 27.25%
- 5Y*
- 26.64%
- 10Y*
- 10.75%
HESM
- 1D
- -1.59%
- 1M
- 0.49%
- YTD
- 15.11%
- 6M
- 17.56%
- 1Y
- -0.34%
- 3Y*
- 19.30%
- 5Y*
- 19.49%
- 10Y*
- —
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Return for Risk
WES vs. HESM — Risk / Return Rank
WES
HESM
WES vs. HESM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Midstream Partners, LP (WES) 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.
| WES | HESM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.45 | -0.01 | +0.46 |
Sortino ratioReturn per unit of downside risk | 0.72 | 0.16 | +0.56 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.02 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 0.57 | -0.03 | +0.60 |
Martin ratioReturn relative to average drawdown | 1.74 | -0.06 | +1.80 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WES | HESM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.45 | -0.01 | +0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.91 | 0.72 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.33 | -0.11 |
Correlation
The correlation between WES 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
WES vs. HESM - Dividend Comparison
WES's dividend yield for the trailing twelve months is around 8.84%, more than HESM's 7.63% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
WES Western Midstream Partners, LP | 8.84% | 9.13% | 8.33% | 8.52% | 6.80% | 5.69% | 11.25% | 12.45% | 8.28% | 5.43% | 4.03% | 3.86% |
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
WES vs. HESM - Drawdown Comparison
The maximum WES drawdown since its inception was -93.66%, which is greater than HESM's maximum drawdown of -75.16%. Use the drawdown chart below to compare losses from any high point for WES and HESM.
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Drawdown Indicators
| WES | HESM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.66% | -75.16% | -18.50% |
Max Drawdown (1Y)Largest decline over 1 year | -15.91% | -25.78% | +9.87% |
Max Drawdown (5Y)Largest decline over 5 years | -23.54% | -28.72% | +5.18% |
Max Drawdown (10Y)Largest decline over 10 years | -91.90% | — | — |
Current DrawdownCurrent decline from peak | -6.22% | -5.01% | -1.21% |
Average DrawdownAverage peak-to-trough decline | -28.86% | -11.92% | -16.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.19% | 13.65% | -8.46% |
Volatility
WES vs. HESM - Volatility Comparison
Western Midstream Partners, LP (WES) has a higher volatility of 5.82% compared to Hess Midstream LP (HESM) at 3.90%. This indicates that WES's price experiences larger fluctuations and is considered to be riskier than HESM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WES | HESM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.82% | 3.90% | +1.92% |
Volatility (6M)Calculated over the trailing 6-month period | 14.07% | 12.90% | +1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.20% | 26.75% | -3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.59% | 27.33% | +2.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.92% | 39.04% | +7.88% |
Financials
WES vs. HESM - Financials Comparison
This section allows you to compare key financial metrics between Western Midstream Partners, LP and Hess Midstream LP. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
WES vs. HESM - Profitability Comparison
WES - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Western Midstream Partners, LP reported a gross profit of 805.90M and revenue of 1.03B. Therefore, the gross margin over that period was 78.1%.
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%.
WES - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Western Midstream Partners, LP reported an operating income of 305.56M and revenue of 1.03B, resulting in an operating margin of 29.6%.
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%.
WES - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Western Midstream Partners, LP reported a net income of 198.57M and revenue of 1.03B, resulting in a net margin of 19.3%.
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%.