COMPARE · Reviewed July 29, 2026
HESM vs TRMD
Verdict: Side-by-side breakdown using the Bull Rankings model. HESM scored 64.5, TRMD scored 57.7 — HESM leads.
Compare another set
HESM
Hess Midstream LP
64.5
$40.21 · $8.3B
fundamentals as of
Score gap
6.8
HESM leads
TRMD
TORM plc
57.7
$30.10 · $3.1B
fundamentals as of
The model, pillar by pillar (0–100 each)
HESM
stronger →← stronger
TRMD
81
Qualityreturns · margins · balance sheet
70
50
Growthrevenue & earnings expansion
50
66
Valuevaluation vs sector peers
55
HESM is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
HESM
TRMD
$796mC+
FCF
$190mC
+7.1%B
Rev
-14.1%D
—
D/E
0.48B
13.9xB+
P/E
8.8xA-
1.67C+
PEG
—
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
HESM
TRMD
61% below
Price vs fair valuelower is cheaper
33% above
~-15%/yr
Growth the price implies10-yr FCF · lower = less priced in
~5%/yr
+142%
1-yr DCF upside
-16%
+158%
5-yr DCF upside
-25%
+185%
10-yr DCF upside
-35%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
HESM
Why this score
- Raising its dividend
- Diluting shareholders
- Cyclical growth
- Short track record
TRMD
Why this score
- Diluting shareholders
- Cut its dividend
- Revenue shrinking
The companies
HESMHess Midstream LP
Why now
Oil & Gas Midstream · market cap $8.3b. 9% off the 52-week high of $44.14. 6 sell-side analysts rate this an Underperform with a mean 1-yr target of $37.33 (implying -7% 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
Dividend payout 103% of earnings on a 7.6% 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.
TRMDTORM plc
Why now
Oil & Gas Midstream · market cap $3.1b. 15% off the 52-week high of $35.33. Revenue -14% — in contraction; any catalyst that reverses this triggers re-rating.
Moat
Net margin 21% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. ROE 13% meets the long-run market sustainable threshold — solid but not differentiated; the durability comes from elsewhere.
Risk
Revenue contracting -14% — the operational turn is not yet visible in the top line. Reserve-replacement treadmill — every barrel or ounce extracted has to be replaced through exploration or acquisition; underspending on replacement reserves shows up in production declines 2-3 years out.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
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