Stock Analysis on Net
Stock Analysis on Net

Hess Corp. (NYSE:HES)

This company has been moved to the archive! The financial data has not been updated since November 2, 2023.

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Hess Corp., adjusted financial ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Activity Ratio
Total Asset Turnover
Reported 0.52 0.36 0.25 0.30 0.30
Adjusted 0.53 0.37 0.25 0.30 0.29
Solvency Ratios
Debt to Equity
Reported 1.08 1.38 1.59 0.85 0.69
Adjusted 1.04 1.25 1.37 0.79 0.66
Debt to Capital
Reported 0.52 0.58 0.61 0.46 0.41
Adjusted 0.51 0.55 0.58 0.44 0.40
Financial Leverage
Reported 2.76 3.26 3.51 2.49 2.23
Adjusted 2.46 2.79 2.83 2.16 1.96
Profitability Ratios
Net Profit Margin
Reported 18.51% 7.48% -66.27% -6.28% -4.46%
Adjusted 26.73% 18.17% -63.19% -9.76% 4.59%
Return on Equity (ROE)
Reported 26.68% 8.87% -57.64% -4.67% -2.93%
Adjusted 34.47% 18.51% -44.56% -6.31% 2.57%
Return on Assets (ROA)
Reported 9.66% 2.72% -16.43% -1.87% -1.32%
Adjusted 14.04% 6.64% -15.72% -2.92% 1.31%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Hess Corp. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Hess Corp. adjusted debt-to-equity ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Hess Corp. adjusted debt-to-capital ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Hess Corp. adjusted financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Hess Corp. adjusted net profit margin ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Hess Corp. adjusted ROE improved from 2020 to 2021 and from 2021 to 2022.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Hess Corp. adjusted ROA improved from 2020 to 2021 and from 2021 to 2022.

Hess Corp., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Sales and other operating revenues 11,324 7,473 4,667 6,495 6,323
Total assets 21,695 20,515 18,821 21,782 21,433
Activity Ratio
Total asset turnover1 0.52 0.36 0.25 0.30 0.30
Adjusted
Selected Financial Data (US$ in millions)
Sales and other operating revenues 11,324 7,473 4,667 6,495 6,323
Adjusted total assets2 21,562 20,444 18,762 21,702 22,174
Activity Ratio
Adjusted total asset turnover3 0.53 0.37 0.25 0.30 0.29

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Total asset turnover = Sales and other operating revenues ÷ Total assets
= 11,324 ÷ 21,695 = 0.52

2 Adjusted total assets. See details »

3 2022 Calculation
Adjusted total asset turnover = Sales and other operating revenues ÷ Adjusted total assets
= 11,324 ÷ 21,562 = 0.53

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Hess Corp. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Total debt 8,481 8,677 8,534 7,397 6,672
Total Hess Corporation stockholders’ equity 7,855 6,300 5,366 8,732 9,629
Solvency Ratio
Debt to equity1 1.08 1.38 1.59 0.85 0.69
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 9,150 9,141 9,075 7,932 7,434
Adjusted total equity3 8,781 7,338 6,618 10,041 11,288
Solvency Ratio
Adjusted debt to equity4 1.04 1.25 1.37 0.79 0.66

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Debt to equity = Total debt ÷ Total Hess Corporation stockholders’ equity
= 8,481 ÷ 7,855 = 1.08

2 Adjusted total debt. See details »

3 Adjusted total equity. See details »

4 2022 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity
= 9,150 ÷ 8,781 = 1.04

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Hess Corp. adjusted debt-to-equity ratio improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Total debt 8,481 8,677 8,534 7,397 6,672
Total capital 16,336 14,977 13,900 16,129 16,301
Solvency Ratio
Debt to capital1 0.52 0.58 0.61 0.46 0.41
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 9,150 9,141 9,075 7,932 7,434
Adjusted total capital3 17,931 16,479 15,693 17,973 18,722
Solvency Ratio
Adjusted debt to capital4 0.51 0.55 0.58 0.44 0.40

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Debt to capital = Total debt ÷ Total capital
= 8,481 ÷ 16,336 = 0.52

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2022 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 9,150 ÷ 17,931 = 0.51

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Hess Corp. adjusted debt-to-capital ratio improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Total assets 21,695 20,515 18,821 21,782 21,433
Total Hess Corporation stockholders’ equity 7,855 6,300 5,366 8,732 9,629
Solvency Ratio
Financial leverage1 2.76 3.26 3.51 2.49 2.23
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 21,562 20,444 18,762 21,702 22,174
Adjusted total equity3 8,781 7,338 6,618 10,041 11,288
Solvency Ratio
Adjusted financial leverage4 2.46 2.79 2.83 2.16 1.96

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Financial leverage = Total assets ÷ Total Hess Corporation stockholders’ equity
= 21,695 ÷ 7,855 = 2.76

2 Adjusted total assets. See details »

3 Adjusted total equity. See details »

4 2022 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity
= 21,562 ÷ 8,781 = 2.46

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Hess Corp. adjusted financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Hess Corporation 2,096 559 (3,093) (408) (282)
Sales and other operating revenues 11,324 7,473 4,667 6,495 6,323
Profitability Ratio
Net profit margin1 18.51% 7.48% -66.27% -6.28% -4.46%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 3,027 1,358 (2,949) (634) 290
Sales and other operating revenues 11,324 7,473 4,667 6,495 6,323
Profitability Ratio
Adjusted net profit margin3 26.73% 18.17% -63.19% -9.76% 4.59%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Net profit margin = 100 × Net income (loss) attributable to Hess Corporation ÷ Sales and other operating revenues
= 100 × 2,096 ÷ 11,324 = 18.51%

2 Adjusted net income (loss). See details »

3 2022 Calculation
Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Sales and other operating revenues
= 100 × 3,027 ÷ 11,324 = 26.73%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Hess Corp. adjusted net profit margin ratio improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Hess Corporation 2,096 559 (3,093) (408) (282)
Total Hess Corporation stockholders’ equity 7,855 6,300 5,366 8,732 9,629
Profitability Ratio
ROE1 26.68% 8.87% -57.64% -4.67% -2.93%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 3,027 1,358 (2,949) (634) 290
Adjusted total equity3 8,781 7,338 6,618 10,041 11,288
Profitability Ratio
Adjusted ROE4 34.47% 18.51% -44.56% -6.31% 2.57%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
ROE = 100 × Net income (loss) attributable to Hess Corporation ÷ Total Hess Corporation stockholders’ equity
= 100 × 2,096 ÷ 7,855 = 26.68%

2 Adjusted net income (loss). See details »

3 Adjusted total equity. See details »

4 2022 Calculation
Adjusted ROE = 100 × Adjusted net income (loss) ÷ Adjusted total equity
= 100 × 3,027 ÷ 8,781 = 34.47%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Hess Corp. adjusted ROE improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Hess Corporation 2,096 559 (3,093) (408) (282)
Total assets 21,695 20,515 18,821 21,782 21,433
Profitability Ratio
ROA1 9.66% 2.72% -16.43% -1.87% -1.32%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 3,027 1,358 (2,949) (634) 290
Adjusted total assets3 21,562 20,444 18,762 21,702 22,174
Profitability Ratio
Adjusted ROA4 14.04% 6.64% -15.72% -2.92% 1.31%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
ROA = 100 × Net income (loss) attributable to Hess Corporation ÷ Total assets
= 100 × 2,096 ÷ 21,695 = 9.66%

2 Adjusted net income (loss). See details »

3 Adjusted total assets. See details »

4 2022 Calculation
Adjusted ROA = 100 × Adjusted net income (loss) ÷ Adjusted total assets
= 100 × 3,027 ÷ 21,562 = 14.04%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Hess Corp. adjusted ROA improved from 2020 to 2021 and from 2021 to 2022.