Income Statement Research
Review the full annual statement in one scroll, from headline results to detailed SEC line items, margin conversion, and growth diagnostics.
Snapshot
HESS CORPORATION's top line, gross profit, pretax income, and bottom-line conversion. Values in USD millions.
Revenue
+28.0%Compound growth, FY2020 to FY2024
Gross profit
FY2024Latest annual filing, FY2024
Pretax Income
FY2024Latest annual filing, FY2024
Net income
FY2024Latest annual filing, FY2024
Headline results
Four lines, five fiscal years, straight from the filings.
HESS CORPORATION headline income statement — FY2024
Trend
The same four lines drawn across the window.
All values shown in USD millions unless noted otherwise.
Line items
The full annual income statement layer for HESS CORPORATION, from revenue down to share counts.
Statement basis
USD millions, except per-share and share-count rows.
HESS CORPORATION expanded income statement — FY2024
Expanded annual statement lines sourced from the SEC EDGAR database for HESS CORPORATION.
Margins
How much of HESS CORPORATION's revenue survives through gross profit, pretax income, and net income.
Gross margin
N/AFY2024, versus FY2020
Pretax Margin
+9309 bpsFY2024, versus FY2020
Net income margin
+8586 bpsFY2024, versus FY2020
Observation window
yearsFY2020 through FY2024
Margin table
Side-by-side read of gross, operating and net margin.
Margin trend
The shape of profitability across the window.
Margins are calculated from annual SEC facts using reported revenue as the denominator.
Year on year
Every headline line of HESS CORPORATION's statement measured against the immediately prior period.
Revenue YoY
FY2023FY2024 versus FY2023
Gross profit YoY
FY2023FY2024 versus FY2023
Pretax Income YoY
FY2023FY2024 versus FY2023
Net income YoY
FY2023FY2024 versus FY2023
Year-on-year table
Contractions are tinted so slowdowns are obvious.
HESS CORPORATION year-on-year change — FY2024
Momentum
Whether the business is accelerating or rolling over.
Year-on-year change compares each annual period against the immediately prior year inside the selected window.
Compound growth
Compounded annual growth from FY2020 to FY2024, which filters out one-year noise.
Revenue CAGR
4yrFY2020 to FY2024
Gross profit CAGR
4yrFY2020 to FY2024
Pretax Income CAGR
4yrFY2020 to FY2024
Net income CAGR
4yrFY2020 to FY2024
Compound rates use the first and last reported year in the window, so a gap in either endpoint suppresses the figure.
Commentary
A written read of the filing-backed figures above. The statement itself remains the source of truth.
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Over the five-year period, Hess Corporation’s financial performance shows a dramatic turnaround from a challenging 2020 to significant recovery and growth by 2024. In 2020, the company reported a revenue of USD 4,804 million with negative gross profit and pretax (operating) income (both at –USD 2,850 million) and a net loss of –USD 3,093 million, indicating substantial operational stress likely driven by adverse market conditions. In 2021, revenue rose by approximately 55% to USD 7,473 million, and positive turnaround metrics emerged with gross profit and operating income (USD 1,380 million and USD 1,490 million, respectively) alongside a notable net profit of USD 559 million. This recovery was further bolstered in 2022, as revenue jumped to USD 11,324 million (a 52% increase over 2021), gross profit improved to USD 3,300 million, and pretax income increased to USD 3,546 million, driving net income to USD 2,096 million. Despite a setback in 2023, when revenue declined roughly 7% to USD 10,511 million and the key profitability measures—gross profit, pretax income, and net income—fell by over 20% compared to 2022, the company rebounded strongly in 2024. Revenue grew to USD 12,896 million, gross profit expanded to USD 4,232 million, and pretax income rose to USD 4,354 million, resulting in a net income of USD 2,769 million. This volatility, particularly the marked decline in 2023 followed by a robust recovery in 2024, may reflect changing market dynamics, commodity price fluctuations, or operational adjustments inherent in the energy sector. Overall, Hess Corporation appears to have regained financial stability and growth momentum, suggesting improved operational efficiency and a more resilient performance outlook in a cyclically volatile industry.
This analysis is for informational purposes only and does not constitute financial advice or a recommendation for any investment decision. Please consult a qualified financial professional for personalised guidance.
