COMPARE · Data as of August 21, 2026
HESM vs LPG
Verdict: Side-by-side breakdown using the Bull Rankings model. HESM scored 60.8, LPG scored 68.8 — LPG leads.
Compare another set
HESM
Hess Midstream LP
60.8
$39.14 · $8.1B
fundamentals as of
Score gap
8.0
LPG leads
LPG
Dorian LPG Ltd.
68.8
$51.13 · $2.2B
fundamentals as of
At a glance · who leads each dimension, on the model's own rules
- CheapestLPG6.8x
- Fastest growthLPG+81.1%
- Strongest balance sheetLPG0.52
- Highest qualityLPG86 / 100
- Largest discount to fair valueHESM-62%
Side by side · every name on one set of axes
Growth against the P/E multiple. Up and to the right is cheaper and faster — the quality-growth idea in one picture. Points beyond the axis are pinned to the edge and marked off-scale rather than allowed to compress everything else.
The model, pillar by pillar (0–100 each)
HESM
stronger →← stronger
LPG
80
Qualityreturns · margins · balance sheet
86
48
Growthrevenue & earnings expansion
50
58
Valuevaluation vs sector peers
76
LPG is stronger on 3 of 3 pillars.
Fundamentals, head-to-head
HESM
LPG
$838mC+
FCF
$239mC
+2.8%C
Rev
+81.1%A
9.48D
D/E
0.52B
13.5xB
P/E
6.8xA-
2.74C
PEG
—
Winner per row is the stronger grade; where grades tie, the better figure breaks it. A true tie or a missing value shows no highlight.
Valuation · DCF cross-check
HESM
LPG
62% below
Price vs fair valuelower is cheaper
39% below
~-17%/yr
Growth the price implies10-yr FCF · lower = less priced in
~-13%/yr
+156%
1-yr DCF upside
+83%
+163%
5-yr DCF upside
+64%
+173%
10-yr DCF upside
+40%
These two disagree on this pair: the Value pillar ranks cheapness against sector peers, while price-vs-fair-value is an absolute read. A name can be the better value in its sector and still the dearer one on cash flows.
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
HESM
Why this score
- Buying back stock
- Raising its dividend
LPG
Why this score
- Raising its dividend
- Cyclical growth
The companies
HESMHess Midstream LP
Why now
Oil & Gas Midstream · market cap $8.1b. 6% off the 52-week high of $41.75. 6 sell-side analysts rate this an Underperform with a mean 1-yr target of $37.50 (implying -4% upside).
Moat
Net margin 23% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. Free cash flow runs well ahead of reported net income — non-cash charges (depreciation, intangible amortization) are holding down GAAP earnings while cash generation stays strong.
Risk
D/E 9.48 is elevated — limits strategic flexibility and raises refinancing exposure if rates stay higher for longer. Dividend payout 105% of earnings on a 7.8% yield — distribution coverage is thin; one earnings stumble could force a dividend cut. Hedge-book exposure — many commodity producers hedge forward production; if the hedge book is concentrated at prices well below spot, the upside the market expects is already locked away.
LPGDorian LPG Ltd.
Why now
Oil & Gas Midstream · market cap $2.2b. Trading near 52-week high of $52.10 — momentum setup, limited technical margin of safety. Revenue growing +81% — in hypergrowth territory. 5 sell-side analysts rate this a Buy with a mean 1-yr target of $51.80 (implying +1% upside).
Moat
Net margin 55% is exceptional — pricing-power territory rare outside premium software, branded staples, and specialty pharma. ROE 26% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which.
Risk
Trading within 2% of the 52-week high — limited technical margin of safety; a momentum reversal would test conviction. Production-cost sensitivity — top-quartile cost producers generate cash through the cycle while marginal producers burn it; watch the cost-per-unit trend, not just headline revenue.
Verdict — model-derived comparison
LPG leads HESM by 7.2 points (68.0 to 60.8), its sharpest advantage coming in Rev (grade A). A contrarian could still prefer HESM, which trades about 62% below our DCF fair value — a margin of safety the score doesn't reward. Note they play different roles — HESM screens as value, LPG screens as growth — so the model rewards different traits for each.
Our AI analyst is busy right now, so this verdict is drawn directly from the pillars, grades and DCF above.
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.
Where HESM and LPG diverge
On the headline score the gap is 8.0 points in favor of LPG. The widest single difference is Value, where LPG leads by 17.1 points.
- ValueHESM 58.4 · LPG 75.5LPG +17.1
- QualityHESM 80.4 · LPG 86.1LPG +5.7
- GrowthHESM 48.0 · LPG 50.0level
Pillars run 0–100 against sector peers, so a score is a statement about a company relative to its own industry rather than to the other name here. A wide Value gap usually means the market already prices the difference in quality or growth — which is the trade-off this comparison comes down to.