DTE Energy Company (DTE) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$1.14	$1.32	+15.8%	—	—	—
Q4 26	$2.03	$1.95	-3.9%	—	—	—
Q3 26	$1.52	$1.65	+8.6%	—	—	—
Q2 26	$2.11	$2.25	+6.6%	—	—	—
Q1 26	$1.4	$1.36	-2.9%	—	—	—
Q4 25	$2	$2.1	+5.0%	—	—	—
Q3 25	$1.44	$1.51	+4.9%	—	—	—
Q2 25	$1.87	$2.22	+18.7%	—	—	—
Q1 25	$1.23	$1.43	+16.3%	—	—	—
Q4 24	$1.71	$1.67	-2.3%	—	—	—
Q3 24	$1.96	$1.97	+0.5%	—	—	—
Q2 24	$1.63	$1.44	-11.7%	—	—	—
Q1 24	$0.88	$0.99	+12.5%	—	—	—
Q4 23	$1.36	$1.33	-2.2%	—	—	—
Q3 23	$1.24	$1.31	+5.6%	—	—	—
Q2 23	$1.57	$1.6	+1.9%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$7.04	—	—	$15.8B	—
FY24	—	$6.78	—	—	$12.5B	—
FY23	—	$6.77	—	—	$12.7B	—
FY22	—	$5.53	—	—	$19.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$10.6B	$12.6B	$14.2B	$12.2B	$11.4B	$15B	$19.2B	$12.7B	$12.5B	$15.8B
YoY change	+2.83%	+18.6%	+12.7%	-14.4%	-6.12%	+31%	+28.5%	-33.7%	-2.26%	+26.9%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	10.6B	12.6B	14.2B	12.2B	11.4B	15B	19.2B	12.7B	12.5B	15.8B
Cost of revenue	7.8B	9.4B	11.1B	9.1B	8.1B	11.6B	15.6B	8.4B	8.1B	11B
Gross profit	2.8B	3.2B	3.1B	3B	3.3B	3.3B	3.7B	4.3B	4.3B	4.8B
Gross margin	26.7%	25.2%	22.2%	24.8%	28.7%	22.3%	19.1%	34%	34.8%	30.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	41M	65M	37M	39M	50M	17M	-1M	9M	—	—
Operating expenses	20M	42M	9M	15M	25M	-10M	-30M	-33M	-86M	-105M
Operating income	1.5B	1.7B	1.6B	1.4B	1.6B	1.5B	1.8B	2.3B	2.2B	2.5B
Operating margin	13.7%	13.4%	11.1%	11.7%	13.7%	10.3%	9.22%	18%	17.7%	16%
Non-operating income, net	105M	124M	179M	143M	87M	-274M	-32M	8M	-20M	-25M
Pretax income	1.1B	1.3B	1.2B	1B	1.1B	656M	1.1B	1.6B	1.4B	1.6B
Income tax	271M	175M	98M	71M	37M	-130M	29M	169M	-34M	88M
Net income	834M	1.1B	1.1B	1.2B	1.4B	903M	1.1B	1.4B	1.4B	1.5B
Net margin	7.85%	8.82%	7.87%	9.63%	12%	6.03%	5.63%	11%	11.3%	9.24%
EBITDA	2.4B	2.8B	2.8B	2.7B	3B	3B	3.2B	4B	4.1B	4.5B
EPS	4.84	6.32	6.18	6.32	7.09	4.68	5.53	6.77	6.78	7.04
Diluted EPS	4.83	6.32	6.17	6.31	7.08	4.67	5.52	6.76	6.77	7.03

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.9B	3.4B	3.2B	2.9B	2.9B	3.4B	4.4B	3.4B	3.5B	4.4B	5.1B	—
Cost of revenue	1.8B	2.2B	2.2B	1.8B	1.8B	2.3B	3.2B	2.4B	2.3B	3.1B	4.1B	—
Gross profit	1B	1.2B	1.1B	1.1B	1.1B	1.2B	1.2B	1B	1.3B	1.3B	1B	—
Gross margin	36.1%	35.8%	32.7%	36.6%	37%	33.5%	27.3%	29.4%	35.9%	29.6%	20.3%	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1M	0	0	0	0	—	—	—	—	—	—	—
Operating expenses	1M	0	0	-20M	0	—	—	-22M	—	—	—	—
Operating income	525M	725M	516M	522M	517M	670M	623M	448M	669M	810M	414M	—
Operating margin	18.2%	21.4%	15.9%	18.2%	17.8%	19.5%	14%	13.1%	19%	18.3%	8.05%	—
Non-operating income, net	14M	-47M	18M	33M	43M	-134M	31M	13M	-11M	-80M	37M	—
Pretax income	354M	482M	334M	358M	356M	322M	427M	230M	413M	480M	189M	—
Income tax	22M	63M	21M	36M	-121M	30M	-18M	1M	-6M	111M	-58M	—
Net income	332M	419M	313M	322M	477M	292M	445M	229M	419M	369M	247M	—
Net margin	11.5%	12.3%	9.66%	11.2%	16.4%	8.5%	10%	6.7%	11.9%	8.33%	4.8%	—
EBITDA	938M	1.2B	950M	1B	1B	1.1B	1.1B	962M	1.2B	1.3B	931M	—
EPS	1.61	—	1.51	1.56	2.3	—	2.14	1.1	2.02	—	1.19	1.35
Diluted EPS	1.61	—	1.51	1.55	2.3	—	2.14	1.1	2.01	—	1.19	1.35

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	15B	16.7B	17B	20.4B	19.9B	23.1B	22.9B	22.7B	25B	26.7B	29.1B
Enterprise value	26.7B	29.5B	31.2B	38B	39.1B	41.3B	42.1B	43.7B	48.2B	52.8B	56.9B
Shares outstanding	179M	179M	181M	185M	193M	193M	195M	206M	207M	207M	207M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	18	15	15.2	17.4	14.5	25.5	21.2	16.3	17.8	18.3	22.4
P/S	1.41	1.32	1.2	1.68	1.75	1.54	1.19	1.78	2.01	1.69	1.77
P/B	1.58	1.67	1.59	1.73	1.58	2.65	2.2	2.05	2.14	2.17	2.39
EV/EBITDA	10.9	10.7	11.2	14.1	13	13.7	13	11	11.9	11.8	15.7
EV/Sales	2.51	2.34	2.19	3.12	3.42	2.76	2.19	3.43	3.87	3.34	3.45
Earnings yield	5.56%	6.67%	6.58%	5.73%	6.87%	3.91%	4.73%	6.15%	5.62%	5.48%	4.46%
FCF yield	0.26%	-0.8%	-0.19%	-1.7%	-0.8%	-3.06%	-6.11%	-3.14%	-3.3%	-3.82%	-8.92%
PEG	—	—	—	—	—	—	—	—	—	—	0.99

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	26.7%	25.2%	22.2%	24.8%	28.7%	22.3%	19.1%	34%	34.8%	30.3%	28%
Operating margin	13.7%	13.4%	11.1%	11.7%	13.7%	10.3%	9.22%	18%	17.7%	16%	13.6%
Net margin	7.85%	8.82%	7.87%	9.63%	12%	6.03%	5.63%	11%	11.3%	9.24%	8%
ROE	8.78%	11.1%	10.4%	9.9%	10.9%	10.4%	10.4%	12.6%	12%	11.9%	11%
ROA	2.6%	3.29%	3.08%	2.77%	3.01%	2.27%	2.54%	3.12%	2.87%	2.7%	2.77%
ROIC	5.17%	6.38%	5.85%	4.53%	4.77%	5.71%	5.83%	6.39%	6.31%	6.21%	5.77%
Return on tangible assets	3.23%	4.05%	3.73%	3.6%	3.33%	2.55%	2.82%	3.45%	3.15%	2.94%	2.49%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.13	1.1	0.73	0.77	1.3	0.52	0.81	0.6	0.71	0.8	0.8
Quick ratio	0.82	0.82	0.55	0.58	1.04	0.39	0.63	0.42	0.46	0.55	0.69
Debt / equity	1.24	1.29	1.33	1.49	1.56	2.09	1.85	1.9	1.99	2.14	2.29
Debt / assets	0.37	0.38	0.39	0.42	0.43	0.46	0.45	0.47	0.48	0.49	0.49
Net debt / EBITDA	4.77	4.64	5.07	6.51	6.37	6.04	5.92	5.29	5.71	5.82	6.13
Interest coverage	3.34	3.4	3.18	2.78	2.8	2.04	2.65	2.98	2.44	2.47	2.19
Effective tax rate	24.5%	13.6%	8.06%	7.01%	3.42%	0%	2.61%	10.8%	0%	5.68%	3.66%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	59.4	70.4	78.5	65.8	59.2	77.5	98.6	61.9	60.2	76.4	79.3
EPS (basic)	4.84	6.32	6.18	6.32	7.09	4.68	5.53	6.77	6.78	7.04	7.04
EPS (diluted)	4.83	6.32	6.17	6.31	7.08	4.67	5.52	6.76	6.77	7.03	6.23
Book value per share	53.1	55.8	59.2	64	65.2	45.1	53.3	53.7	56.5	59.5	58.4
FCF per share	0.22	-0.74	-0.18	-1.88	-0.83	-3.65	-7.18	-3.47	-3.98	-4.93	-7.16
Cash per share	0.51	0.37	0.39	0.5	2.45	0.15	0.17	0.13	0.12	1	0.2
Capex per share	11.4	12.6	15	16.2	20	19.5	—	—	—	21.4	21.4

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	19.2%	17.8%	19.1%	24.6%	33.8%	25.2%	—	—	—	28%	28%
Capex / operating cash flow	107.5%	115.9%	104.7%	116.6%	104.5%	140.1%	—	—	—	129.9%	129.9%
Payout ratio	63.7%	53.2%	55.5%	59%	55.4%	87.6%	63.3%	53.8%	57.7%	59.6%	72.6%
Dividend yield	3.54%	3.55%	3.65%	3.38%	3.81%	3.43%	2.99%	3.31%	3.24%	3.26%	3.33%

Yield

3.33%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.165

ex-dividend Jun 22, 2026

Payout ratio

73%

of earnings

Dividend growth

16 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 22, 2026	$1.165
Mar 16, 2026	$1.165
Dec 15, 2025	$1.165

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2.9B	$3.4B	$3.2B	$2.9B	$2.9B	$3.4B	$4.4B	$3.4B	$3.5B	$4.4B	$5.1B	—
YoY change	-45%	-24.2%	-14.3%	+7.12%	+0.62%	+1.24%	+37%	+18.9%	+21.4%	+28.9%	+15.8%	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	92M	66M	71M	93M	472M	28M	33M	26M	24M	208M
Receivables	708M	758M	1.8B	1.6B	1.8B	1.7B	2.2B	1.8B	1.8B	2.1B
Inventory	772M	779M	811M	759M	708M	858M	942M	1.1B	1.2B	1.4B
Total current assets	2.8B	3.1B	3.3B	3.1B	3.5B	3.3B	4.2B	3.5B	3.6B	4.3B
Property, plant & equipment	-7.2B	-7.4B	-6.7B	-4.8B	-8B	-8.7B	-9.3B	-7.7B	-8.4B	-9.1B
Goodwill & intangibles	6.3B	6.3B	6.3B	9.7B	4.4B	4.3B	4.3B	4.3B	4.3B	4.4B
Total assets	32B	33.8B	36.3B	42.3B	45.5B	39.7B	42.7B	44.8B	48.8B	54.1B
Accounts payable	1.1B	1.2B	1.3B	1.1B	1B	1.4B	1.6B	1.4B	1.4B	1.8B
Short-term debt	513M	730M	2.1B	1.5B	523M	3.6B	2.3B	3.4B	2.4B	2.3B
Total current liabilities	2.4B	2.8B	4.4B	4B	2.7B	6.3B	5.2B	5.9B	5.1B	5.4B
Long-term debt	11.3B	12.2B	12.1B	16.1B	19.1B	14.6B	16.9B	17.5B	20.9B	24B
Total liabilities	22.5B	23.8B	25.6B	30.4B	32.9B	31B	32.3B	33.7B	37.1B	41.8B
Shareholders' equity	9.5B	10B	10.7B	11.8B	12.6B	8.7B	10.4B	11.1B	11.7B	12.3B
Total debt	11.8B	12.9B	14.2B	17.6B	19.6B	18.3B	19.2B	21B	23.2B	26.3B
Net debt	11.7B	12.8B	14.2B	17.5B	19.1B	18.2B	19.2B	20.9B	23.2B	26.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Cash & short-term investments	30M	36M	26M	492M	1.1B	2B	24M	33M	32M	34M	208M	238M
Receivables	1.3B	1.4B	1.8B	1.6B	1.5B	1.4B	1.8B	1.9B	1.8B	1.6B	2.1B	2.1B
Inventory	938M	1.1B	1.1B	1B	1.2B	1.4B	1.2B	1.2B	1.4B	1.6B	1.4B	1.2B
Total current assets	3.2B	3.4B	3.5B	3.8B	4.5B	5.6B	3.6B	3.6B	3.5B	3.8B	4.3B	4.4B
Property, plant & equipment	29.8B	27.7B	-7.7B	28.7B	29.6B	30.2B	-8.4B	31.3B	31.8B	32.9B	-9.1B	34.7B
Goodwill & intangibles	4.3B	4.3B	4.3B	4.3B	4.3B	4.3B	4.3B	4.3B	4.3B	4.4B	4.4B	4.4B
Total assets	42.9B	43.7B	44.8B	45.9B	47.8B	49.8B	48.8B	49.6B	50.2B	52B	54.1B	55.1B
Accounts payable	1.1B	1.1B	1.4B	1.1B	1.3B	1.3B	1.4B	1.3B	1.4B	1.3B	1.8B	1.6B
Short-term debt	1.2B	1.8B	3.4B	2.7B	3.8B	4.2B	2.4B	1.5B	867M	568M	2.3B	1.5B
Total current liabilities	3.6B	4B	5.9B	5B	6.5B	6.8B	5.1B	4.2B	3.8B	3.3B	5.4B	4.6B
Long-term debt	18.6B	18.7B	17.5B	19.4B	19.4B	20.6B	20.9B	22B	23.1B	24.7B	24B	25.4B
Total liabilities	32.4B	32.9B	33.7B	34.7B	36.7B	38.2B	37.1B	37.6B	38.5B	39.9B	41.8B	42.8B
Shareholders' equity	10.5B	10.9B	11.1B	11.2B	11.1B	11.6B	11.7B	11.9B	11.7B	12.2B	12.3B	12.3B
Total debt	19.9B	20.5B	21B	22.1B	23.2B	24.8B	23.2B	23.4B	24B	25.3B	26.3B	27B
Net debt	19.8B	20.4B	20.9B	21.8B	23.2B	23.8B	23.2B	23.4B	24B	25.3B	26.1B	26.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	834M	1.1B	1.1B	1.2B	1.4B	903M	1.1B	1.4B	1.4B	1.5B
Depreciation & amortization	976M	1B	1.1B	1.3B	1.4B	1.5B	1.5B	1.6B	1.3B	1.3B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	-209M	-464M	233M	-219M	519M	398M	-751M	65M	400M	-163M
Operating cash flow	1.9B	1.9B	2.6B	2.6B	3.7B	2.7B	2B	3.2B	3.7B	3.4B
Capital expenditure	-2B	-2.3B	-2.7B	-3B	-3.9B	-3.8B	—	—	—	-4.4B
Investing cash flow	-3.4B	-2.6B	-3.4B	-5.7B	-4.1B	-2.8B	810M	-186M	-514M	-5.3B
Dividends paid	-531M	-592M	-620M	-692M	-760M	-791M	-685M	-752M	-810M	-871M
Share repurchases	-33M	-51M	0	0	0	-66M	-55M	0	0	—
Financing cash flow	1.4B	421M	654M	3.1B	796M	315M	1.5B	883M	1.3B	2.1B
Net change in cash	-139M	-209M	-112M	-71M	394M	173M	4.2B	3.9B	4.5B	144M
Free cash flow	39M	-133M	-33M	-348M	-160M	-705M	-1.4B	-714M	-824M	-1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Net income	201M	332M	419M	313M	322M	477M	292M	445M	229M	419M	369M	247M
Depreciation & amortization	427M	373M	421M	423M	448M	417M	44M	452M	484M	431M	-84M	483M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	211M	-95M	-71M	302M	-37M	28M	147M	183M	62M	-318M	-41M	280M
Operating cash flow	833M	660M	841M	1B	790M	809M	1.1B	1B	715M	632M	1B	906M
Capital expenditure	—	—	—	—	—	—	—	—	—	-1.2B	-1.4B	-1.2B
Investing cash flow	-46M	-50M	485M	-568M	-883M	-62M	999M	-98M	-87M	-1.7B	-1.6B	-1.3B
Dividends paid	-188M	-188M	-188M	-202M	-202M	-203M	-203M	-217M	-218M	-218M	-218M	-233M
Share repurchases	0	0	0	—	—	—	—	—	—	—	—	—
Financing cash flow	46M	392M	294M	872M	887M	1.4B	-1.8B	-50M	339M	1B	744M	436M
Net change in cash	833M	1B	1.6B	1.3B	794M	2.1B	280M	878M	967M	-6M	161M	26M
Free cash flow	-104M	-321M	-276M	-9M	-282M	-370M	-163M	147M	-262M	-590M	-315M	-323M

DTE Energy Company Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history