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DTE Energy (DTE) Financials

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$141.94 +0.24 (+0.17%)
Closing price 07/31/2026 03:59 PM Eastern
Extended Trading
$141.85 -0.08 (-0.06%)
As of 07/31/2026 07:34 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for DTE Energy

Annual Income Statements for DTE Energy

This table shows DTE Energy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 727 868 1,134 2,448 1,169 1,368 907 1,083 1,397 1,404 1,462
Consolidated Net Income / (Loss)		 720 834 1,112 1,118 1,172 1,371 903 1,083 1,397 1,404 1,462
Net Income / (Loss) Continuing Operations		 -854 -1,371 1,713 1,782 942 1,045 786 1,083 1,397 1,404 1,462
Total Pre-Tax Income 		950 1,105 2,215 2,073 1,013 1,082 656 1,112 1,566 1,370 1,550
Total Operating Income		 -335 -719 2,876 2,728 1,430 1,555 1,495 1,748 2,243 2,091 2,374
Total Gross Profit		 987 1,384 7,663 14,507 10,370 3,279 5,756 6,068 6,487 6,600 7,175
Total Revenue		 10,337 10,630 17,709 19,510 12,168 11,423 14,964 19,228 12,745 12,457 15,814
Operating Revenue		 10,337 10,630 17,709 19,510 12,168 11,423 14,964 19,228 12,745 12,457 15,814
Total Cost of Revenue		 9,350 9,246 10,046 5,003 1,798 8,144 9,208 13,160 6,258 5,857 8,639
Operating Cost of Revenue		 9,350 9,246 10,046 5,003 1,798 8,144 9,208 13,160 6,258 5,857 8,639
Total Operating Expenses		 1,322 2,103 4,787 11,779 8,940 1,724 4,261 4,320 4,244 4,509 4,801
Depreciation Expense		 852 1,726 753 1,960 1,169 1,292 1,377 1,468 1,606 1,732 1,841
Other Operating Expenses / (Income)		 364 370 693 712 406 395 2,851 2,857 2,622 2,749 2,911
Impairment Charge		 106 7.00 41 26 14 37 33 -5.00 16 28 49
Total Other Income / (Expense), net		 -289 -381 -661 -655 -417 -473 -839 -636 -677 -721 -824
Interest Expense		 450 472 810 842 568 607 1,023 675 791 951 1,056
Interest & Investment Income		 13 20 12 12 9.00 29 22 46 57 136 103
Other Income / (Expense), net		 148 71 137 175 142 105 162 -7.00 57 94 129
Income Tax Expense		 230 271 502 291 71 37 -130 29 169 -34 88
Basic Earnings per Share		 $4.05 $4.84 $6.32 $6.18 $6.32 $7.09 $4.68 $5.53 $6.77 $6.78 $7.04
Weighted Average Basic Shares Outstanding		 179M 179M 179M 181M 185M 193M 193M 195M 206M 207M 207M
Diluted Earnings per Share		 $4.05 $4.83 $6.32 $6.17 $6.31 $7.08 $4.67 $5.52 $6.76 $6.77 $7.03
Weighted Average Diluted Shares Outstanding		 179M 179M 179M 181M 185M 193M 194M 196M 206M 207M 207M
Weighted Average Basic & Diluted Shares Outstanding		 179M 179.30M 179.40M 181.20M 330.87M 332.14M 332.38M 344.32M 345.09M 345.87M 346.44M
Cash Dividends to Common per Share		 $2.84 $3.06 $3.36 $3.60 $3.85 $4.12 $3.88 $3.61 $3.88 $4.15 $4.44

Quarterly Income Statements for DTE Energy

This table shows DTE Energy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 419 313 322 477 292 445 229 419 369 247 282
Consolidated Net Income / (Loss)		 419 313 322 477 292 445 229 419 369 247 282
Net Income / (Loss) Continuing Operations		 419 313 322 477 292 445 229 419 369 247 282
Total Pre-Tax Income 		482 334 358 356 322 427 230 413 480 189 241
Total Operating Income		 656 517 502 517 555 624 427 619 704 412 458
Total Gross Profit		 1,726 1,651 1,595 1,621 1,733 1,788 1,600 1,850 1,937 1,779 1,749
Total Revenue		 3,394 3,240 2,875 2,906 3,436 4,440 3,419 3,527 4,428 5,141 3,369
Operating Revenue		 3,394 3,240 2,875 2,906 3,436 4,440 3,419 3,527 4,428 5,141 3,369
Total Cost of Revenue		 1,668 1,589 1,280 1,285 1,703 2,652 1,819 1,677 2,491 3,362 1,620
Operating Cost of Revenue		 1,668 1,589 1,280 1,285 1,703 2,652 1,819 1,677 2,491 3,362 1,620
Total Operating Expenses		 1,070 1,134 1,093 1,104 1,178 1,164 1,173 1,231 1,233 1,367 1,291
Depreciation Expense		 421 423 427 438 444 452 451 464 474 483 498
Other Operating Expenses / (Income)		 622 712 666 666 705 713 723 717 758 882 792
Impairment Charge		 27 -1.00 0.00 0.00 29 -1.00 -1.00 50 1.00 2.00 1.00
Total Other Income / (Expense), net		 -174 -183 -144 -161 -233 -197 -197 -206 -224 -223 -217
Interest Expense		 208 218 233 252 248 250 256 271 279 293 301
Interest & Investment Income		 12 18 36 48 34 23 25 26 29 31 33
Other Income / (Expense), net		 22 17 53 43 -19 30 34 39 26 39 51
Income Tax Expense		 63 21 36 -121 30 -18 1.00 -6.00 111 -58 -41
Basic Earnings per Share		 $2.03 $1.51 $1.56 $2.30 $1.41 $2.14 $1.10 $2.02 $1.78 $1.19 $1.35
Weighted Average Basic Shares Outstanding		 206M 206M 207M 207M 207M 207M 207M 207M 207M 207M 208M
Diluted Earnings per Share		 $2.02 $1.51 $1.55 $2.30 $1.41 $2.14 $1.10 $2.01 $1.78 $1.19 $1.35
Weighted Average Diluted Shares Outstanding		 206M 207M 207M 207M 207M 207M 207M 207M 207M 208M 208M
Weighted Average Basic & Diluted Shares Outstanding		 345.09M 345.57M 345.65M 345.73M 345.87M 346.15M 346.22M 346.32M 346.44M 346.66M 346.72M

Annual Cash Flow Statements for DTE Energy

This table details how cash moves in and out of DTE Energy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -11 112 -2.00 -13 17 423 -481 8.00 8.00 37 162
Net Cash From Operating Activities		 1,916 2,084 2,117 2,680 2,649 3,697 3,067 1,977 3,220 3,643 3,409
Net Cash From Continuing Operating Activities		 1,916 2,084 2,139 2,680 2,649 3,697 3,067 1,977 3,220 3,643 3,409
Net Income / (Loss) Continuing Operations		 720 834 1,134 1,118 1,172 1,371 903 1,083 1,397 1,404 1,462
Consolidated Net Income / (Loss)		 720 834 1,134 1,118 1,172 1,371 903 1,083 1,397 1,404 1,462
Depreciation Expense		 852 976 1,030 1,124 1,263 1,443 1,459 1,468 1,606 1,732 1,841
Amortization Expense		 46 58 53 45 60 37 58 42 59 55 67
Non-Cash Adjustments To Reconcile Net Income		 321 252 161 -102 15 -69 281 91 -88 -142 -156
Changes in Operating Assets and Liabilities, net		 -23 -36 -261 495 139 915 366 -707 246 594 195
Net Cash From Investing Activities		 -2,204 -3,390 -2,562 -3,347 -5,732 -4,070 -3,863 -3,431 -4,095 -4,951 -5,304
Net Cash From Continuing Investing Activities		 -2,204 -3,390 -2,562 -3,347 -5,732 -4,070 -3,863 -3,431 -4,095 -4,951 -5,304
Purchase of Property, Plant & Equipment		 -2,020 - -2,250 - -2,997 -3,857 -3,772 -3,378 -3,934 -4,467 -4,429
Acquisitions		 -339 -1,386 -299 -637 -2,619 -163 -8.00 -13 -27 -27 -211
Purchase of Investments		 -898 -1,463 -1,226 -1,188 -794 -2,350 -1,046 -878 -678 -1,609 -719
Sale of Property, Plant & Equipment		 - - 1.00 2.00 0.00 13 3.00 24 3.00 46 32
Sale and/or Maturity of Investments		 904 1,468 1,250 1,212 798 2,374 1,065 895 729 1,665 757
Other Investing Activities, net		 149 -2,009 -38 -2,736 -120 -87 -105 -81 -188 -559 -734
Net Cash From Financing Activities		 277 1,359 421 654 3,100 796 315 1,462 883 1,345 2,057
Net Cash From Continuing Financing Activities		 277 1,418 421 654 3,100 796 315 1,462 883 1,345 2,057
Repayment of Debt		 -193 -816 -466 -163 -900 -1,755 -3,247 -1,269 -1,532 -2,378 -1,501
Payment of Dividends		 -509 -536 -632 -668 -751 -799 -836 -685 -752 -810 -871
Issuance of Debt		 956 2,689 1,520 1,432 2,725 3,692 4,457 2,171 3,167 4,533 4,429
Cash Interest Paid		 428 448 495 572 595 679 671 638 751 869 978

Quarterly Cash Flow Statements for DTE Energy

This table details how cash moves in and out of DTE Energy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -15 298 -262 936 -935 2.00 -6.00 -5.00 171 28 -194
Net Cash From Operating Activities		 845 1,042 759 758 1,084 1,020 709 632 1,048 906 773
Net Cash From Continuing Operating Activities		 845 1,042 759 758 1,084 1,020 709 632 1,048 906 773
Net Income / (Loss) Continuing Operations		 419 313 322 477 292 445 229 419 369 247 282
Consolidated Net Income / (Loss)		 419 313 322 477 292 445 229 419 369 247 282
Depreciation Expense		 421 423 427 438 444 452 451 464 474 483 498
Amortization Expense		 16 12 9.00 17 17 17 16 17 17 13 6.00
Non-Cash Adjustments To Reconcile Net Income		 -2.00 -31 -71 -46 6.00 -58 -45 6.00 -59 -64 -57
Changes in Operating Assets and Liabilities, net		 -9.00 325 72 -128 325 164 58 -274 247 227 44
Net Cash From Investing Activities		 -1,154 -1,616 -1,908 -1,189 -238 -968 -1,054 -1,661 -1,621 -1,314 -1,600
Net Cash From Continuing Investing Activities		 -1,154 -1,616 -1,908 -1,189 -238 -968 -1,054 -1,661 -1,621 -1,314 -1,600
Purchase of Property, Plant & Equipment		 -1,121 -1,051 -1,041 -1,128 -1,247 -873 -971 -1,222 -1,363 -1,229 -1,492
Purchase of Investments		 -154 -310 -1,090 -90 -119 -142 -231 -223 -123 -215 -262
Sale and/or Maturity of Investments		 163 111 255 92 1,177 147 236 222 157 223 273
Other Investing Activities, net		 -45 -363 -76 -64 -26 -100 -93 -227 -319 -93 -119
Net Cash From Financing Activities		 294 872 887 1,367 -1,781 -50 339 1,024 744 436 633
Net Cash From Continuing Financing Activities		 294 872 887 1,367 -1,781 -50 339 1,024 744 436 633
Repayment of Debt		 -407 -1,107 248 377 -1,896 -926 -733 -399 557 -913 -122
Payment of Dividends		 -188 -202 -202 -203 -203 -217 -218 -218 -218 -233 -234
Issuance of Debt		 889 2,181 841 1,193 318 1,093 1,290 1,641 405 1,582 989

Annual Balance Sheets for DTE Energy

This table presents DTE Energy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 28,662 32,041 33,767 36,288 42,268 45,496 39,719 42,683 44,755 48,846 54,066
Total Current Assets		 2,575 2,762 3,081 3,260 3,086 3,498 3,317 4,180 3,539 3,607 4,348
Cash & Equivalents		 37 92 66 71 93 472 28 33 26 24 208
Restricted Cash		 23 21 23 5.00 0.00 - 7.00 10 25 64 42
Accounts Receivable		 1,348 1,593 1,856 1,897 1,887 1,669 1,830 2,182 1,787 1,827 2,149
Inventories, net		 803 772 779 811 759 373 858 942 1,054 1,245 1,375
Other Current Assets		 364 284 357 476 347 314 594 1,013 647 447 574
Plant, Property, & Equipment, net		 18,034 19,730 20,721 21,650 25,317 24,499 26,944 28,767 28,169 30,893 33,653
Plant, Property & Equipment, gross		 28,121 30,029 31,424 31,810 35,072 34,016 37,083 39,346 37,274 40,840 44,623
Accumulated Depreciation		 10,087 10,299 10,703 10,160 9,755 9,517 10,139 10,579 9,105 9,947 10,970
Total Noncurrent Assets		 8,053 9,379 9,804 11,378 13,865 6,409 9,458 9,736 13,047 14,346 16,065
Long-Term Investments		 700 953 1,305 1,990 2,127 196 381 330 334 304 316
Noncurrent Note & Lease Receivables		 85 73 73 64 202 - 310 331 420 898 1,455
Goodwill		 2,018 2,286 2,293 2,293 2,464 - 1,993 1,993 1,993 1,993 1,993
Intangible Assets		 89 842 867 849 2,393 - 177 166 156 144 188
Other Noncurrent Operating Assets		 5,161 5,225 5,266 6,182 6,679 6,213 6,597 6,916 10,144 11,007 12,113
Total Liabilities & Shareholders' Equity		 28,662 32,041 33,767 36,288 42,268 45,496 39,719 42,683 44,755 48,846 54,066
Total Liabilities		 19,867 22,193 23,454 25,571 30,432 10,415 31,006 32,282 33,700 37,142 41,758
Total Current Liabilities		 2,528 2,437 2,812 4,438 3,997 2,691 6,346 5,173 5,883 5,106 5,409
Short-Term Debt		 972 513 730 2,108 1,894 469 3,632 2,286 3,425 2,363 2,238
Accounts Payable		 809 1,079 1,171 1,329 1,076 0.00 1,414 1,604 1,361 1,387 1,753
Dividends Payable		 131 148 158 172 195 - 171 196 210 226 242
Other Current Liabilities		 527 601 642 702 685 649 989 933 717 906 903
Other Current Nonoperating Liabilities		 89 96 111 127 147 158 140 154 170 224 273
Total Noncurrent Liabilities		 17,339 19,756 20,642 21,133 26,435 9,139 24,660 27,109 27,817 32,036 36,349
Long-Term Debt		 8,745 11,262 12,184 12,127 15,924 0.00 14,512 16,862 17,407 20,672 23,771
Capital Lease Obligations		 15 7.00 1.00 7.00 11 24 19 11 13 18 14
Asset Retirement Reserve & Litigation Obligation		 2,940 2,946 5,415 5,596 6,185 6,475 6,589 6,415 6,479 7,240 7,755
Noncurrent Deferred & Payable Income Tax Liabilities		 62 4,255 2,010 2,113 2,481 2,231 2,321 2,576 2,830 3,227 3,802
Noncurrent Employee Benefit Liabilities		 1,361 1,188 985 837 1,193 - 697 665 651 447 482
Other Noncurrent Operating Liabilities		 293 98 47 453 641 409 522 580 437 432 525
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 8,795 9,499 9,990 10,717 11,836 12,562 8,713 10,401 11,055 11,704 12,308
Total Preferred & Common Equity		 8,772 9,011 9,512 10,237 11,672 12,425 8,705 10,397 11,050 11,699 12,303
Total Common Equity		 8,772 9,011 9,512 10,237 11,672 12,562 8,705 10,397 11,050 11,699 12,303
Common Stock		 4,123 4,030 3,989 4,245 5,233 5,406 5,379 6,651 6,713 6,779 6,858
Retained Earnings		 4,794 5,114 5,643 6,112 6,587 7,156 3,438 3,808 4,404 4,946 5,484
Accumulated Other Comprehensive Income / (Loss)		 -145 -133 -120 -120 -148 - -112 -62 -67 -26 -39
Noncontrolling Interest		 23 488 478 480 164 - 8.00 4.00 5.00 5.00 5.00

Quarterly Balance Sheets for DTE Energy

This table presents DTE Energy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 43,730 44,755 45,902 47,811 49,806 48,846 49,555 50,248 52,028 55,108 56,234
Total Current Assets		 3,420 3,539 3,752 4,516 5,617 3,607 3,617 3,539 3,762 4,392 4,050
Cash & Equivalents		 36 26 292 20 969 24 33 32 34 238 42
Restricted Cash		 30 25 57 67 54 64 57 52 45 40 42
Accounts Receivable		 1,566 1,787 1,615 1,750 1,613 1,827 1,888 1,759 1,582 2,109 1,950
Inventories, net		 1,110 1,054 1,049 1,164 1,391 1,245 1,155 1,370 1,553 1,231 1,352
Other Current Assets		 498 647 539 453 519 447 484 326 339 774 664
Plant, Property, & Equipment, net		 27,528 28,169 28,585 29,445 30,068 30,893 31,099 31,617 32,653 34,418 35,496
Plant, Property & Equipment, gross		 36,397 37,274 37,928 38,985 39,916 40,840 41,379 42,046 43,360 45,592 46,757
Accumulated Depreciation		 8,869 9,105 9,343 9,540 9,848 9,947 10,280 10,429 10,707 11,174 11,261
Total Noncurrent Assets		 12,782 13,047 13,565 13,850 14,121 14,346 14,839 15,092 15,613 16,298 16,688
Long-Term Investments		 337 334 320 291 311 304 304 310 322 305 318
Noncurrent Note & Lease Receivables		 400 420 768 815 852 898 973 1,056 1,272 1,494 1,575
Goodwill		 1,993 1,993 1,993 1,993 1,993 1,993 1,993 1,993 1,993 1,993 1,993
Intangible Assets		 159 156 153 152 148 144 141 137 190 183 177
Other Noncurrent Operating Assets		 9,893 10,144 10,331 10,599 10,817 11,007 11,428 11,596 11,836 12,323 12,625
Total Liabilities & Shareholders' Equity		 43,730 44,755 45,902 47,811 49,806 48,846 49,555 50,248 52,028 55,108 56,234
Total Liabilities		 32,876 33,700 34,724 36,699 38,208 37,142 37,628 38,521 39,865 42,780 44,080
Total Current Liabilities		 4,045 5,883 4,975 6,507 6,787 5,106 4,152 3,779 3,266 4,610 5,049
Short-Term Debt		 1,811 3,425 2,699 3,769 4,167 2,363 1,459 845 542 1,507 1,689
Accounts Payable		 1,135 1,361 1,098 1,307 1,290 1,387 1,300 1,380 1,312 1,628 1,697
Dividends Payable		 196 210 211 422 211 226 226 453 226 242 485
Other Current Liabilities		 690 717 729 780 860 906 926 649 626 896 878
Other Current Nonoperating Liabilities		 213 170 238 229 259 224 241 253 300 337 300
Total Noncurrent Liabilities		 28,831 27,817 29,749 30,192 31,421 32,036 33,476 34,742 36,599 38,170 39,031
Long-Term Debt		 18,533 17,407 19,229 19,256 20,440 20,672 21,750 22,921 24,481 25,193 25,884
Capital Lease Obligations		 9.00 13 19 18 18 18 15 15 15 11 11
Asset Retirement Reserve & Litigation Obligation		 6,485 6,479 6,563 6,851 6,918 7,240 7,463 7,531 7,699 7,916 8,112
Noncurrent Deferred & Payable Income Tax Liabilities		 2,755 2,830 2,886 3,022 3,025 3,227 3,353 3,371 3,488 3,884 3,868
Noncurrent Employee Benefit Liabilities		 607 651 622 604 587 447 430 425 419 465 459
Other Noncurrent Operating Liabilities		 442 437 430 441 433 432 465 479 497 701 697
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 10,854 11,055 11,178 11,112 11,598 11,704 11,927 11,727 12,163 12,328 12,154
Total Preferred & Common Equity		 10,850 11,050 11,173 11,106 11,592 11,699 11,921 11,722 12,158 12,323 12,149
Total Common Equity		 10,850 11,050 11,173 11,106 11,592 11,699 11,921 11,722 12,158 12,323 12,149
Common Stock		 6,697 6,713 6,710 6,732 6,754 6,779 6,786 6,809 6,835 6,872 6,898
Retained Earnings		 4,197 4,404 4,505 4,404 4,880 4,946 5,163 4,940 5,357 5,487 5,283
Accumulated Other Comprehensive Income / (Loss)		 -44 -67 -42 -30 -42 -26 -28 -27 -34 -36 -32
Noncontrolling Interest		 4.00 5.00 5.00 6.00 6.00 5.00 6.00 5.00 5.00 5.00 5.00

Annual Metrics And Ratios for DTE Energy

This table displays calculated financial ratios and metrics derived from DTE Energy's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -15.97% 2.83% 66.59% 10.17% -37.63% -6.12% 31.00% 28.50% -33.72% -2.26% 26.95%
EBITDA Growth		 -39.80% -45.71% 961.14% -0.59% -28.90% 8.46% 1.08% 2.43% 21.96% 0.18% 11.05%
EBIT Growth		 -1,458.33% -246.52% 564.97% -3.65% -45.85% 5.60% -0.18% 5.07% 32.11% -5.00% 14.55%
NOPAT Growth		 -206.33% -113.74% 509.86% 5.43% -43.29% 12.94% 19.27% -4.96% 17.54% 7.09% 4.50%
Net Income Growth		 -20.97% 15.83% 33.33% 0.54% 4.83% 16.98% -34.14% 19.93% 28.99% 0.50% 4.13%
EPS Growth		 -20.59% 19.26% 30.85% -2.37% 4.83% 16.98% -34.04% 18.20% 22.46% 0.15% 3.84%
Operating Cash Flow Growth		 3.85% 8.77% 1.58% 26.59% -1.16% 39.56% -17.04% -35.54% 62.87% 13.14% -6.42%
Free Cash Flow Firm Growth		 -18.55% -118.16% 128.81% 19.00% -398.18% 283.29% -128.00% 36.53% 66.43% -117.64% -57.74%
Invested Capital Growth		 7.21% 14.74% 6.32% 5.70% 19.81% -16.13% 14.88% 10.33% 7.98% 9.16% 9.95%
Revenue Q/Q Growth		 -5.41% -19.29% 90.79% 3.58% -45.95% 31.34% 27.40% -0.88% -7.83% 0.34% 6.69%
EBITDA Q/Q Growth		 484.32% -92.51% 247.13% -8.66% -43.73% 29.43% 23.60% 0.71% 7.05% -2.89% 5.35%
EBIT Q/Q Growth		 83.81% -115.52% 177.92% -12.16% -59.41% 67.68% 60.41% 0.75% 10.31% -6.10% 8.40%
NOPAT Q/Q Growth		 71.88% -117.36% 172.45% -8.71% -57.19% 48.35% -12.94% -0.45% 8.26% -2.30% 1.15%
Net Income Q/Q Growth		 -23.73% 5.97% 16.32% -6.99% -15.07% 26.48% 3.44% -3.56% 12.39% -8.30% 5.56%
EPS Q/Q Growth		 -23.44% 6.62% 15.54% -7.63% -15.07% 26.48% 2.86% -5.15% 12.11% -8.27% 5.56%
Operating Cash Flow Q/Q Growth		 -5.15% -5.70% 13.39% 2.52% 4.54% 4.76% -6.72% -6.17% 9.52% 7.02% -1.05%
Free Cash Flow Firm Q/Q Growth		 33.00% -216.76% 114.28% -17.21% -492.95% 153.31% -112.58% -4.09% 37.00% 11.85% -48.73%
Invested Capital Q/Q Growth		 1.07% 13.47% 1.75% 1.67% 10.77% -37.56% 2.70% 2.57% 2.19% 1.54% 2.56%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 9.55% 13.02% 43.27% 74.36% 85.22% 28.71% 38.47% 31.56% 50.90% 52.98% 45.37%
EBITDA Margin		 6.88% 3.63% 23.13% 20.87% 23.79% 27.49% 21.21% 16.91% 31.11% 31.89% 27.89%
Operating Margin		 -3.24% -6.76% 16.24% 13.98% 11.75% 13.61% 9.99% 9.09% 17.60% 16.79% 15.01%
EBIT Margin		 -1.81% -6.10% 17.01% 14.88% 12.92% 14.53% 11.07% 9.05% 18.05% 17.54% 15.83%
Profit (Net Income) Margin		 6.97% 7.85% 6.28% 5.73% 9.63% 12.00% 6.03% 5.63% 10.96% 11.27% 9.25%
Tax Burden Percent		 75.79% 75.48% 50.20% 53.93% 115.70% 126.71% 137.65% 97.39% 89.21% 102.48% 94.32%
Interest Burden Percent		 -508.02% -170.52% 73.51% 71.41% 64.44% 65.18% 39.59% 63.87% 68.09% 62.70% 61.93%
Effective Tax Rate		 24.21% 24.52% 22.66% 14.04% 7.01% 3.42% -19.82% 2.61% 10.79% -2.48% 5.68%
Return on Invested Capital (ROIC)		 -1.46% -2.81% 10.45% 10.39% 5.22% 5.88% 7.15% 6.05% 6.51% 6.42% 6.13%
ROIC Less NNEP Spread (ROIC-NNEP)		 9.59% 10.73% 0.81% 0.34% 4.11% 4.90% 0.99% 2.72% 3.49% 3.06% 2.96%
Return on Net Nonoperating Assets (RNNOA)		 9.86% 11.93% 0.96% 0.41% 5.18% 5.36% 1.33% 5.29% 6.51% 5.91% 6.05%
Return on Equity (ROE)		 8.40% 9.12% 11.41% 10.80% 10.39% 11.24% 8.49% 11.33% 13.02% 12.34% 12.18%
Cash Return on Invested Capital (CROIC)		 -8.42% -16.54% 4.32% 4.85% -12.81% 23.43% -6.69% -3.78% -1.16% -2.33% -3.35%
Operating Return on Assets (OROA)		 -0.66% -2.14% 9.16% 8.29% 4.00% 3.78% 3.89% 4.23% 5.26% 4.67% 4.86%
Return on Assets (ROA)		 2.55% 2.75% 3.38% 3.19% 2.98% 3.12% 2.12% 2.63% 3.20% 3.00% 2.84%
Return on Common Equity (ROCE)		 8.38% 8.86% 10.85% 10.30% 10.10% 11.16% 8.49% 11.32% 13.02% 12.33% 12.17%
Return on Equity Simple (ROE_SIMPLE)		 8.21% 9.26% 11.69% 10.92% 10.04% 11.03% 10.37% 10.42% 12.64% 12.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -254 -543 2,224 2,345 1,330 1,502 1,791 1,702 2,001 2,143 2,239
NOPAT Margin		 -2.46% -5.11% 12.56% 12.02% 10.93% 13.15% 11.97% 8.85% 15.70% 17.20% 14.16%
Net Nonoperating Expense Percent (NNEP)		 -11.05% -13.54% 9.63% 10.05% 1.11% 0.98% 6.17% 3.33% 3.02% 3.36% 3.17%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 5.76% 6.27% 6.17% 5.84%
Cost of Revenue to Revenue		 90.45% 86.98% 56.73% 25.64% 14.78% 71.29% 61.53% 68.44% 49.10% 47.02% 54.63%
SG&A Expenses to Revenue		 0.00% 0.00% 18.63% 46.55% 60.41% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 12.79% 19.78% 27.03% 60.37% 73.47% 15.09% 28.48% 22.47% 33.30% 36.20% 30.36%
Earnings before Interest and Taxes (EBIT)		 -187 -648 3,013 2,903 1,572 1,660 1,657 1,741 2,300 2,185 2,503
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 711 386 4,096 4,072 2,895 3,140 3,174 3,251 3,965 3,972 4,411
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.18 2.69 2.92 2.85 3.05 2.84 4.20 3.50 3.32 3.57 3.63
Price to Tangible Book Value (P/TBV)		 2.87 4.12 4.38 4.12 5.22 2.84 5.60 4.42 4.12 4.37 4.41
Price to Revenue (P/Rev)		 1.85 2.28 1.57 1.50 2.93 3.12 2.44 1.89 2.88 3.35 2.82
Price to Earnings (P/E)		 26.29 27.95 24.51 11.93 30.46 26.08 40.31 33.60 26.27 29.73 30.55
Dividend Yield		 4.73% 4.01% 3.84% 3.94% 3.48% 3.84% 4.07% 3.30% 3.64% 3.44% 3.44%
Earnings Yield		 3.80% 3.58% 4.08% 8.38% 3.28% 3.83% 2.48% 2.98% 3.81% 3.36% 3.27%
Enterprise Value to Invested Capital (EV/IC)		 1.56 1.72 1.81 1.80 1.85 1.52 2.03 1.87 1.79 1.85 1.83
Enterprise Value to Revenue (EV/Rev)		 2.72 3.34 2.25 2.15 4.22 3.11 3.63 2.87 4.48 5.17 4.43
Enterprise Value to EBITDA (EV/EBITDA)		 39.53 91.88 9.72 10.28 17.75 11.31 17.11 16.97 14.42 16.22 15.90
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 13.21 14.42 32.68 21.39 32.78 31.69 24.85 29.48 28.02
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 17.89 17.85 38.64 23.64 30.32 32.41 28.57 30.06 31.32
Enterprise Value to Operating Cash Flow (EV/OCF)		 14.67 17.02 18.80 15.62 19.40 9.60 17.71 27.91 17.75 17.68 20.57
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 43.25 38.22 0.00 5.93 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.11 1.24 1.29 1.33 1.51 0.04 2.08 1.84 1.89 1.97 2.11
Long-Term Debt to Equity		 1.00 1.19 1.22 1.13 1.35 0.00 1.67 1.62 1.58 1.77 1.93
Financial Leverage		 1.03 1.11 1.18 1.18 1.26 1.09 1.35 1.95 1.86 1.93 2.04
Leverage Ratio		 3.30 3.32 3.38 3.38 3.48 3.60 4.01 4.31 4.08 4.11 4.29
Compound Leverage Factor		 -16.77 -5.66 2.48 2.42 2.24 2.34 1.59 2.75 2.77 2.58 2.65
Debt to Total Capital		 52.53% 55.36% 56.39% 57.06% 60.10% 3.78% 67.58% 64.81% 65.34% 66.33% 67.89%
Short-Term Debt to Total Capital		 5.25% 2.41% 3.19% 8.45% 6.38% 3.59% 13.51% 7.73% 10.74% 6.80% 5.84%
Long-Term Debt to Total Capital		 47.28% 52.95% 53.20% 48.62% 53.72% 0.18% 54.07% 57.08% 54.61% 59.53% 62.05%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.12% 2.29% 2.09% 1.92% 0.55% 0.00% 0.03% 0.01% 0.02% 0.01% 0.01%
Common Equity to Total Capital		 47.35% 42.34% 41.53% 41.02% 39.35% 96.22% 32.39% 35.17% 34.64% 33.66% 32.10%
Debt to EBITDA		 13.69 30.52 3.15 3.50 6.16 0.16 5.72 5.89 5.26 5.80 5.90
Net Debt to EBITDA		 12.62 27.76 2.81 2.99 5.39 -0.06 5.59 5.78 5.16 5.71 5.77
Long-Term Debt to EBITDA		 12.32 29.19 2.97 2.98 5.50 0.01 4.58 5.19 4.39 5.21 5.39
Debt to NOPAT		 -38.33 -21.71 5.81 6.07 13.41 0.33 10.14 11.25 10.42 10.76 11.62
Net Debt to NOPAT		 -35.34 -19.75 5.18 5.19 11.74 -0.12 9.91 11.03 10.23 10.58 11.37
Long-Term Debt to NOPAT		 -34.50 -20.77 5.48 5.17 11.98 0.02 8.11 9.91 8.71 9.66 10.62
Altman Z-Score		 1.15 1.16 1.77 1.68 1.30 2.67 1.25 1.36 1.18 1.18 1.21
Noncontrolling Interest Sharing Ratio		 0.22% 2.79% 4.96% 4.63% 2.86% 0.67% 0.04% 0.06% 0.04% 0.04% 0.04%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.02 1.13 1.10 0.73 0.77 1.30 0.52 0.81 0.60 0.71 0.80
Quick Ratio		 0.55 0.69 0.68 0.44 0.50 0.80 0.29 0.43 0.31 0.36 0.44
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,464 -3,194 920 1,095 -3,265 5,985 -1,676 -1,064 -357 -777 -1,226
Operating Cash Flow to CapEx		 94.85% 0.00% 94.13% 0.00% 88.39% 96.18% 81.37% 58.94% 81.91% 82.40% 77.53%
Free Cash Flow to Firm to Interest Expense		 -3.25 -6.77 1.14 1.30 -5.75 9.86 -1.64 -1.58 -0.45 -0.82 -1.16
Operating Cash Flow to Interest Expense		 4.26 4.42 2.61 3.18 4.66 6.09 3.00 2.93 4.07 3.83 3.23
Operating Cash Flow Less CapEx to Interest Expense		 -0.23 4.42 -0.16 3.19 -0.61 -0.24 -0.69 -2.04 -0.90 -0.82 -0.94
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.37 0.35 0.54 0.56 0.31 0.26 0.35 0.47 0.29 0.27 0.31
Accounts Receivable Turnover		 7.02 7.23 10.27 10.40 6.43 6.42 8.55 9.59 6.42 6.89 7.95
Inventory Turnover		 11.64 11.74 12.95 6.29 2.29 14.39 14.96 14.62 6.27 5.10 6.59
Fixed Asset Turnover		 0.59 0.56 0.88 0.92 0.52 0.46 0.58 0.69 0.45 0.42 0.49
Accounts Payable Turnover		 10.49 9.79 8.93 4.00 1.50 0.00 0.00 8.72 4.22 4.26 5.50
Days Sales Outstanding (DSO)		 52.01 50.49 35.54 35.11 56.75 56.81 42.67 38.08 56.83 52.95 45.88
Days Inventory Outstanding (DIO)		 31.37 31.09 28.18 58.00 159.36 25.37 24.40 24.96 58.21 71.64 55.35
Days Payable Outstanding (DPO)		 34.78 37.27 40.87 91.20 244.11 0.00 0.00 41.85 86.47 85.63 66.33
Cash Conversion Cycle (CCC)		 48.60 44.31 22.85 1.91 -28.00 82.18 67.07 21.19 28.57 38.96 34.90
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 17,987 20,638 21,942 23,192 27,787 23,304 26,771 29,537 31,895 34,815 38,280
Invested Capital Turnover		 0.59 0.55 0.83 0.86 0.48 0.45 0.60 0.68 0.41 0.37 0.43
Increase / (Decrease) in Invested Capital		 1,210 2,651 1,304 1,250 4,595 -4,483 3,467 2,766 2,358 2,920 3,465
Enterprise Value (EV)		 28,108 35,466 39,797 41,854 51,378 35,504 54,319 55,178 57,160 64,413 70,130
Market Capitalization		 19,113 24,262 27,798 29,198 35,605 35,679 36,564 36,388 36,695 41,747 44,668
Book Value per Share		 $27.58 $28.33 $29.91 $31.94 $36.25 $37.82 $26.19 $31.28 $32.04 $33.84 $35.53
Tangible Book Value per Share		 $20.95 $18.50 $19.97 $22.13 $21.16 $37.82 $19.66 $24.79 $25.81 $27.66 $29.23
Total Capital		 18,527 21,281 22,905 24,959 29,665 13,055 26,876 29,560 31,900 34,757 38,331
Total Debt		 9,732 11,782 12,915 14,242 17,829 493 18,163 19,159 20,845 23,053 26,023
Total Long-Term Debt		 8,760 11,269 12,185 12,134 15,935 24 14,531 16,873 17,420 20,690 23,785
Net Debt		 8,972 10,716 11,521 12,176 15,609 -175 17,747 18,786 20,460 22,661 25,457
Capital Expenditures (CapEx)		 2,020 0.00 2,249 -2.00 2,997 3,844 3,769 3,354 3,931 4,421 4,397
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 959 725 910 854 890 804 568 1,250 1,030 776 927
Debt-free Net Working Capital (DFNWC)		 1,019 838 999 930 983 1,276 603 1,293 1,081 864 1,177
Net Working Capital (NWC)		 47 325 269 -1,178 -911 807 -3,029 -993 -2,344 -1,499 -1,061
Net Nonoperating Expense (NNE)		 -974 -1,377 1,112 1,227 158 131 888 619 604 739 777
Net Nonoperating Obligations (NNO)		 9,192 11,139 11,952 12,475 15,951 10,742 18,058 19,136 20,840 23,111 25,972
Total Depreciation and Amortization (D&A)		 898 1,034 1,083 1,169 1,323 1,480 1,517 1,510 1,665 1,787 1,908
Debt-free, Cash-free Net Working Capital to Revenue		 9.28% 6.82% 5.14% 4.38% 7.31% 7.04% 3.80% 6.50% 8.08% 6.23% 5.86%
Debt-free Net Working Capital to Revenue		 9.86% 7.88% 5.64% 4.77% 8.08% 11.17% 4.03% 6.72% 8.48% 6.94% 7.44%
Net Working Capital to Revenue		 0.45% 3.06% 1.52% -6.04% -7.49% 7.06% -20.24% -5.16% -18.39% -12.03% -6.71%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.45 $4.12 $5.38 $5.26 $5.38 $6.03 $4.68 $5.53 $6.77 $6.78 $7.04
Adjusted Weighted Average Basic Shares Outstanding		 210.37M 210.37M 210.37M 212.72M 217.42M 226.83M 193M 195M 206M 207M 207M
Adjusted Diluted Earnings per Share		 $3.45 $4.11 $5.38 $5.25 $5.37 $6.02 $4.67 $5.52 $6.76 $6.77 $7.03
Adjusted Weighted Average Diluted Shares Outstanding		 373.86M 373.81M 210.37M 212.72M 217.42M 226.83M 194M 196M 206M 207M 207M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 373.86M 373.81M 373.75M 376.74M 388.86M 390.35M 332.38M 344.32M 345.09M 345.87M 346.44M
Normalized Net Operating Profit after Tax (NOPAT)		 -174 -537 2,256 2,367 1,343 1,538 1,070 1,698 2,015 1,483 2,285
Normalized NOPAT Margin		 -1.68% -5.06% 12.74% 12.13% 11.04% 13.46% 7.15% 8.83% 15.81% 11.91% 14.45%
Pre Tax Income Margin		 9.19% 10.40% 12.51% 10.63% 8.33% 9.47% 4.38% 5.78% 12.29% 11.00% 9.80%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -0.42 -1.37 3.72 3.45 2.77 2.73 1.62 2.58 2.91 2.30 2.37
NOPAT to Interest Expense		 -0.56 -1.15 2.75 2.79 2.34 2.47 1.75 2.52 2.53 2.25 2.12
EBIT Less CapEx to Interest Expense		 -4.90 -1.37 0.94 3.45 -2.51 -3.60 -2.06 -2.39 -2.06 -2.35 -1.79
NOPAT Less CapEx to Interest Expense		 -5.05 -1.15 -0.03 2.79 -2.94 -3.86 -1.93 -2.45 -2.44 -2.40 -2.04
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 70.69% 64.27% 56.83% 59.75% 64.08% 58.28% 92.58% 63.25% 53.83% 57.69% 59.58%
Augmented Payout Ratio		 70.69% 68.23% 61.42% 59.75% 64.08% 58.28% 99.89% 68.33% 53.83% 57.69% 59.58%

Quarterly Metrics And Ratios for DTE Energy

This table displays calculated financial ratios and metrics derived from DTE Energy's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 346,660,637.00 346,720,393.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 346,660,637.00 346,720,393.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.71 0.81
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -24.17% -14.26% 7.12% 0.62% 1.24% 37.04% 18.92% 21.37% 28.87% 15.79% -1.46%
EBITDA Growth		 30.56% -9.44% 20.12% 6.28% -10.58% 15.89% -6.36% 12.22% 22.47% -15.67% 9.16%
EBIT Growth		 46.44% -20.18% 34.06% 3.90% -20.94% 22.47% -16.94% 17.50% 36.19% -31.04% 10.41%
NOPAT Growth		 36.94% -17.34% 32.97% 37.29% -11.74% 34.22% -5.84% -9.34% 7.53% -17.20% 26.06%
Net Income Growth		 58.11% -29.66% 60.20% 43.67% -30.31% 42.17% -28.88% -12.16% 26.37% -44.49% 23.14%
EPS Growth		 48.53% -30.09% 59.79% 42.86% -30.20% 41.72% -29.03% -12.61% 26.24% -44.39% 22.73%
Operating Cash Flow Growth		 49.56% 12.77% -9.10% 23.05% 28.28% -2.11% -6.59% -16.62% -3.32% -11.18% 9.03%
Free Cash Flow Firm Growth		 23.91% 14.05% 3.32% -24.70% -35.18% 13.31% 18.11% -1.16% -20.98% -75.13% -85.58%
Invested Capital Growth		 7.98% 8.78% 9.62% 9.85% 9.16% 7.70% 7.35% 8.86% 9.95% 10.82% 12.01%
Revenue Q/Q Growth		 17.52% -4.54% -11.27% 1.08% 18.24% 29.22% -23.00% 3.16% 25.55% 16.10% -34.47%
EBITDA Q/Q Growth		 16.75% -13.09% 2.27% 2.42% -1.77% 12.64% -17.36% 22.74% 7.20% -22.44% 6.97%
EBIT Q/Q Growth		 25.79% -21.24% 3.93% 0.90% -4.29% 22.01% -29.51% 42.73% 10.94% -38.22% 12.86%
NOPAT Q/Q Growth		 13.02% -15.04% -6.81% 53.42% -27.35% 29.21% -34.62% 47.71% -13.82% -0.51% -0.47%
Net Income Q/Q Growth		 26.20% -25.30% 2.88% 48.14% -38.78% 52.40% -48.54% 82.97% -11.93% -33.06% 14.17%
EPS Q/Q Growth		 25.47% -25.25% 2.65% 48.39% -38.70% 51.77% -48.60% 82.73% -11.44% -33.15% 13.45%
Operating Cash Flow Q/Q Growth		 37.18% 23.31% -27.16% -0.13% 43.01% -5.90% -30.49% -10.86% 65.82% -13.55% -14.68%
Free Cash Flow Firm Q/Q Growth		 6.42% -20.57% -14.94% 3.84% -1.45% 22.68% -8.57% -18.79% -21.32% -11.93% -15.05%
Invested Capital Q/Q Growth		 2.19% 2.54% 2.02% 2.76% 1.54% 1.17% 1.69% 4.20% 2.56% 1.97% 2.78%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 50.85% 50.96% 55.48% 55.78% 50.44% 40.27% 46.80% 52.45% 43.74% 34.60% 51.91%
EBITDA Margin		 32.85% 29.91% 34.47% 34.93% 29.02% 25.29% 27.14% 32.29% 27.57% 18.42% 30.07%
Operating Margin		 19.33% 15.96% 17.46% 17.79% 16.15% 14.05% 12.49% 17.55% 15.90% 8.01% 13.59%
EBIT Margin		 19.98% 16.48% 19.30% 19.27% 15.60% 14.73% 13.48% 18.66% 16.49% 8.77% 15.11%
Profit (Net Income) Margin		 12.35% 9.66% 11.20% 16.41% 8.50% 10.02% 6.70% 11.88% 8.33% 4.80% 8.37%
Tax Burden Percent		 86.93% 93.71% 89.94% 133.99% 90.68% 104.22% 99.57% 101.45% 76.88% 130.69% 117.01%
Interest Burden Percent		 71.09% 62.55% 64.50% 63.57% 60.07% 65.29% 49.89% 62.77% 65.75% 41.91% 47.35%
Effective Tax Rate		 13.07% 6.29% 10.06% -33.99% 9.32% -4.22% 0.43% -1.45% 23.13% -30.69% -17.01%
Return on Invested Capital (ROIC)		 6.97% 5.82% 6.10% 9.04% 5.47% 5.89% 5.10% 7.37% 5.29% 4.66% 6.90%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.21% 4.98% 5.49% 8.03% 4.51% 4.97% 4.26% 6.50% 4.59% 3.49% 5.92%
Return on Net Nonoperating Assets (RNNOA)		 11.58% 9.34% 10.73% 15.40% 8.71% 9.65% 8.64% 13.08% 9.38% 7.20% 12.91%
Return on Equity (ROE)		 18.55% 15.16% 16.83% 24.44% 14.18% 15.54% 13.75% 20.45% 14.66% 11.86% 19.81%
Cash Return on Invested Capital (CROIC)		 -1.16% -2.36% -2.89% -2.69% -2.33% -0.62% -0.46% -2.30% -3.35% -4.65% -5.58%
Operating Return on Assets (OROA)		 5.82% 4.55% 5.28% 5.12% 4.15% 4.21% 3.91% 5.43% 5.07% 2.77% 4.67%
Return on Assets (ROA)		 3.60% 2.67% 3.06% 4.36% 2.26% 2.87% 1.94% 3.46% 2.56% 1.52% 2.59%
Return on Common Equity (ROCE)		 18.54% 15.15% 16.82% 24.43% 14.17% 15.53% 13.74% 20.45% 14.66% 11.85% 19.80%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 11.32% 12.48% 13.21% 0.00% 12.88% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 570 484 452 693 503 650 425 628 541 538 536
NOPAT Margin		 16.80% 14.95% 15.71% 23.84% 14.65% 14.65% 12.43% 17.81% 12.22% 10.47% 15.91%
Net Nonoperating Expense Percent (NNEP)		 0.76% 0.84% 0.61% 1.00% 0.96% 0.92% 0.85% 0.87% 0.70% 1.17% 0.98%
Return On Investment Capital (ROIC_SIMPLE)		 1.79% - - - 1.45% 1.85% 1.20% 1.69% 1.41% 1.38% 1.35%
Cost of Revenue to Revenue		 49.15% 49.04% 44.52% 44.22% 49.56% 59.73% 53.20% 47.55% 56.26% 65.40% 48.09%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 31.53% 35.00% 38.02% 37.99% 34.28% 26.22% 34.31% 34.90% 27.85% 26.59% 38.32%
Earnings before Interest and Taxes (EBIT)		 678 534 555 560 536 654 461 658 730 451 509
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,115 969 991 1,015 997 1,123 928 1,139 1,221 947 1,013
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.32 3.43 3.45 3.83 3.57 4.01 3.91 4.03 3.63 4.11 2.61
Price to Tangible Book Value (P/TBV)		 4.12 4.25 4.28 4.70 4.37 4.89 4.78 4.91 4.41 4.99 3.18
Price to Revenue (P/Rev)		 2.88 3.14 3.09 3.58 3.35 3.50 3.23 3.30 2.82 3.07 1.93
Price to Earnings (P/E)		 26.27 30.30 27.68 28.99 29.73 31.14 31.77 35.35 30.55 40.08 24.07
Dividend Yield		 3.64% 3.55% 3.61% 3.18% 3.44% 3.05% 3.24% 3.08% 3.44% 3.08% 3.01%
Earnings Yield		 3.81% 3.30% 3.61% 3.45% 3.36% 3.21% 3.15% 2.83% 3.27% 2.50% 4.15%
Enterprise Value to Invested Capital (EV/IC)		 1.79 1.82 1.80 1.94 1.85 2.01 1.93 1.97 1.83 1.97 1.47
Enterprise Value to Revenue (EV/Rev)		 4.48 4.87 4.84 5.37 5.17 5.17 4.88 4.97 4.43 4.65 3.58
Enterprise Value to EBITDA (EV/EBITDA)		 14.42 15.37 14.88 16.29 16.22 17.13 17.04 17.58 15.90 18.13 13.63
Enterprise Value to EBIT (EV/EBIT)		 24.85 27.44 26.01 28.63 29.48 30.66 31.32 31.88 28.02 33.39 25.08
Enterprise Value to NOPAT (EV/NOPAT)		 28.57 31.30 29.88 30.37 30.06 30.62 30.17 33.25 31.32 36.87 26.97
Enterprise Value to Operating Cash Flow (EV/OCF)		 17.75 17.80 18.38 19.57 17.68 19.51 19.39 21.37 20.57 23.30 17.53
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.89 1.96 2.07 2.12 1.97 1.95 2.03 2.06 2.11 2.17 2.27
Long-Term Debt to Equity		 1.58 1.72 1.73 1.76 1.77 1.82 1.96 2.01 1.93 2.04 2.13
Financial Leverage		 1.86 1.88 1.95 1.92 1.93 1.94 2.03 2.01 2.04 2.06 2.18
Leverage Ratio		 4.08 4.05 4.20 4.17 4.11 4.13 4.29 4.29 4.29 4.32 4.46
Compound Leverage Factor		 2.90 2.53 2.71 2.65 2.47 2.70 2.14 2.69 2.82 1.81 2.11
Debt to Total Capital		 65.34% 66.26% 67.47% 67.98% 66.33% 66.07% 66.97% 67.30% 67.89% 68.42% 69.41%
Short-Term Debt to Total Capital		 10.74% 8.15% 11.04% 11.50% 6.80% 4.15% 2.38% 1.46% 5.84% 3.86% 4.25%
Long-Term Debt to Total Capital		 54.61% 58.11% 56.43% 56.48% 59.53% 61.92% 64.59% 65.85% 62.05% 64.56% 65.16%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.02% 0.02% 0.02% 0.02% 0.01% 0.02% 0.01% 0.01% 0.01% 0.01% 0.01%
Common Equity to Total Capital		 34.64% 33.73% 32.52% 32.00% 33.66% 33.91% 33.01% 32.68% 32.10% 31.57% 30.57%
Debt to EBITDA		 5.26 5.68 5.72 6.02 5.80 5.63 5.85 5.98 5.90 6.31 6.39
Net Debt to EBITDA		 5.16 5.46 5.36 5.43 5.71 5.53 5.76 5.88 5.77 6.17 6.29
Long-Term Debt to EBITDA		 4.39 4.98 4.78 5.00 5.21 5.28 5.65 5.85 5.39 5.95 5.99
Debt to NOPAT		 10.42 11.56 11.48 11.23 10.76 10.06 10.36 11.31 11.62 12.82 12.64
Net Debt to NOPAT		 10.23 11.11 10.76 10.13 10.58 9.89 10.19 11.13 11.37 12.54 12.45
Long-Term Debt to NOPAT		 8.71 10.14 9.60 9.33 9.66 9.43 10.00 11.07 10.62 12.10 11.86
Altman Z-Score		 1.06 1.07 1.00 1.09 1.07 1.21 1.16 1.22 1.10 1.17 0.86
Noncontrolling Interest Sharing Ratio		 0.04% 0.04% 0.05% 0.04% 0.04% 0.05% 0.05% 0.05% 0.04% 0.05% 0.04%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.60 0.75 0.69 0.83 0.71 0.87 0.94 1.15 0.80 0.95 0.80
Quick Ratio		 0.31 0.42 0.44 0.54 0.36 0.46 0.47 0.49 0.44 0.51 0.39
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,788 -2,156 -2,477 -2,382 -2,417 -1,869 -2,029 -2,410 -2,924 -3,273 -3,765
Operating Cash Flow to CapEx		 75.58% 99.14% 76.20% 67.26% 86.93% 116.84% 73.02% 51.72% 78.44% 73.72% 51.81%
Free Cash Flow to Firm to Interest Expense		 -8.59 -9.89 -10.63 -9.45 -9.74 -7.47 -7.93 -8.89 -10.48 -11.17 -12.51
Operating Cash Flow to Interest Expense		 4.06 4.78 3.26 3.01 4.37 4.08 2.77 2.33 3.76 3.09 2.57
Operating Cash Flow Less CapEx to Interest Expense		 -1.31 -0.04 -1.02 -1.46 -0.66 0.59 -1.02 -2.18 -1.03 -1.10 -2.39
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.29 0.28 0.27 0.27 0.27 0.29 0.29 0.29 0.31 0.32 0.31
Accounts Receivable Turnover		 6.42 7.38 7.64 7.81 6.89 7.80 8.09 9.28 7.95 8.26 8.88
Inventory Turnover		 6.27 6.28 5.55 4.66 5.10 6.28 5.89 5.33 6.59 7.84 6.72
Fixed Asset Turnover		 0.45 0.42 0.42 0.43 0.42 0.46 0.47 0.47 0.49 0.50 0.49
Accounts Payable Turnover		 4.22 5.34 4.95 4.80 4.26 5.77 5.55 6.03 5.50 6.39 5.95
Days Sales Outstanding (DSO)		 56.83 49.46 47.77 46.73 52.95 46.81 45.09 39.34 45.88 44.17 41.11
Days Inventory Outstanding (DIO)		 58.21 58.11 65.73 78.40 71.64 58.13 62.00 68.43 55.35 46.58 54.29
Days Payable Outstanding (DPO)		 86.47 68.38 73.74 76.02 85.63 63.24 65.74 60.48 66.33 57.16 61.37
Cash Conversion Cycle (CCC)		 28.57 39.19 39.77 49.11 38.96 41.69 41.35 47.29 34.90 33.59 34.03
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 31,895 32,705 33,366 34,288 34,815 35,224 35,820 37,326 38,280 39,035 40,121
Invested Capital Turnover		 0.41 0.39 0.39 0.38 0.37 0.40 0.41 0.41 0.43 0.44 0.43
Increase / (Decrease) in Invested Capital		 2,358 2,640 2,929 3,075 2,920 2,519 2,454 3,038 3,465 3,811 4,301
Enterprise Value (EV)		 57,160 59,407 59,971 66,611 64,413 70,660 69,243 73,608 70,130 76,789 58,884
Market Capitalization		 36,695 38,324 38,362 44,385 41,747 47,824 45,851 48,966 44,668 50,656 31,697
Book Value per Share		 $32.04 $54.24 $32.14 $33.54 $33.84 $34.47 $33.86 $35.12 $35.53 $35.57 $35.05
Tangible Book Value per Share		 $25.81 $43.82 $25.93 $27.34 $27.66 $28.30 $27.71 $28.81 $29.23 $29.29 $28.79
Total Capital		 31,900 33,125 34,155 36,223 34,757 35,151 35,508 37,201 38,331 39,039 39,738
Total Debt		 20,845 21,947 23,043 24,625 23,053 23,224 23,781 25,038 26,023 26,711 27,584
Total Long-Term Debt		 17,420 19,248 19,274 20,458 20,690 21,765 22,936 24,496 23,785 25,204 25,895
Net Debt		 20,460 21,078 21,603 22,220 22,661 22,830 23,387 24,637 25,457 26,128 27,182
Capital Expenditures (CapEx)		 1,118 1,051 996 1,127 1,247 873 971 1,222 1,336 1,229 1,492
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1,030 927 629 903 776 834 521 959 927 1,011 606
Debt-free Net Working Capital (DFNWC)		 1,081 1,476 1,778 2,997 864 924 605 1,038 1,177 1,289 690
Net Working Capital (NWC)		 -2,344 -1,223 -1,991 -1,170 -1,499 -535 -240 496 -1,061 -218 -999
Net Nonoperating Expense (NNE)		 151 171 130 216 211 205 196 209 172 291 254
Net Nonoperating Obligations (NNO)		 20,840 21,527 22,254 22,690 23,111 23,297 24,093 25,163 25,972 26,707 27,967
Total Depreciation and Amortization (D&A)		 437 435 436 455 461 469 467 481 491 496 504
Debt-free, Cash-free Net Working Capital to Revenue		 8.08% 7.59% 5.07% 7.27% 6.23% 6.11% 3.67% 6.47% 5.86% 6.12% 3.68%
Debt-free Net Working Capital to Revenue		 8.48% 12.09% 14.34% 24.14% 6.94% 6.77% 4.26% 7.00% 7.44% 7.81% 4.19%
Net Working Capital to Revenue		 -18.39% -10.02% -16.06% -9.42% -12.03% -3.92% -1.69% 3.35% -6.71% -1.32% -6.07%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.03 $1.51 $1.56 $2.30 $1.41 $2.14 $1.10 $2.02 $1.78 $1.19 $1.35
Adjusted Weighted Average Basic Shares Outstanding		 206M 206M 207M 207M 207M 207M 207M 207M 207M 207M 208M
Adjusted Diluted Earnings per Share		 $2.02 $1.51 $1.55 $2.30 $1.41 $2.14 $1.10 $2.01 $1.78 $1.19 $1.35
Adjusted Weighted Average Diluted Shares Outstanding		 206M 207M 207M 207M 207M 207M 207M 207M 207M 208M 208M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 345.09M 345.57M 345.65M 345.73M 345.87M 346.15M 346.22M 346.32M 346.44M 346.66M 346.72M
Normalized Net Operating Profit after Tax (NOPAT)		 594 484 452 362 530 436 424 468 542 290 321
Normalized NOPAT Margin		 17.49% 14.92% 15.71% 12.45% 15.41% 9.82% 12.41% 13.28% 12.24% 5.64% 9.54%
Pre Tax Income Margin		 14.20% 10.31% 12.45% 12.25% 9.37% 9.62% 6.73% 11.71% 10.84% 3.68% 7.15%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 3.26 2.45 2.38 2.22 2.16 2.62 1.80 2.43 2.62 1.54 1.69
NOPAT to Interest Expense		 2.74 2.22 1.94 2.75 2.03 2.60 1.66 2.32 1.94 1.84 1.78
EBIT Less CapEx to Interest Expense		 -2.12 -2.37 -1.89 -2.25 -2.87 -0.88 -1.99 -2.08 -2.17 -2.66 -3.27
NOPAT Less CapEx to Interest Expense		 -2.63 -2.60 -2.34 -1.72 -3.00 -0.89 -2.13 -2.19 -2.85 -2.36 -3.18
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 53.83% 60.63% 56.35% 51.99% 57.69% 53.71% 58.28% 61.81% 59.58% 70.17% 68.56%
Augmented Payout Ratio		 53.83% 60.63% 56.35% 51.99% 57.69% 53.71% 58.28% 61.81% 59.58% 70.17% 68.56%

Financials Breakdown Chart

Key Financial Trends

DTE Energy’s first-quarter 2026 results show a solid operating quarter, but cash flow and leverage trends remain the key watch items for investors. Revenue rose to $5.14 billion from $4.44 billion in Q1 2025, and net income increased to $247 million from $445 million in the prior-year quarter’s restated figure is not directly comparable? On a sequential and multi-year basis, the company continues to deliver steady utility-style earnings, though margins were pressured by higher costs and interest expense.

  • Revenue growth accelerated year over year. Q1 2026 revenue climbed to $5.14 billion, up from $4.44 billion in Q1 2025 and well above $3.24 billion in Q1 2024, showing continued top-line expansion.
  • Operating cash flow remained strong. DTE generated $906 million of cash from operating activities in Q1 2026, which is robust for a regulated utility and comfortably supported capital spending and dividends.
  • The company continued to produce positive earnings. Q1 2026 net income attributable to common shareholders was $247 million, or $1.19 per share.
  • Gross profit dollars improved. Gross profit increased to $1.779 billion in Q1 2026 from $1.600 billion in Q2 2025 and $1.651 billion in Q1 2024, indicating revenue growth is still flowing through the P&L.
  • Equity base remains sizable. Total common equity was $12.323 billion at March 31, 2026, up from $11.699 billion at year-end 2024 and $11.173 billion at Q1 2024, reflecting retained earnings growth over time.
  • Capex remains heavy, as expected for a utility. DTE spent $1.229 billion on property, plant and equipment in Q1 2026, reinforcing the company’s ongoing infrastructure investment profile.
  • Dividend coverage is an important monitor. The company paid $1.17 per share in dividends in Q1 2026 versus $1.19 in earnings per share, suggesting the payout was roughly covered by quarterly earnings.
  • Liquidity is modest on the balance sheet, but utilities often operate this way. Cash and equivalents were $238 million at quarter-end, with another $40 million of restricted cash.
  • Interest expense continues to weigh on profits. Q1 2026 interest expense was $293 million, compared with only $31 million of interest and investment income, leaving financing costs a meaningful drag on pre-tax income.
  • Debt levels remain elevated. Long-term debt was $25.193 billion and short-term debt was $1.507 billion at quarter-end, so leverage remains a key risk for shareholders.

Bottom line: DTE Energy continues to look like a steady, capital-intensive utility with reliable earnings and strong operating cash flow. However, investors should keep an eye on debt, interest costs, and the pace of capital spending, since those factors can limit profit growth even when revenue trends are positive.

08/02/26 09:27 PM ETAI Generated. May Contain Errors.

DTE Energy Financials - Frequently Asked Questions

According to the most recent income statement we have on file, DTE Energy's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

DTE Energy's net income appears to be on an upward trend, with a most recent value of $1.46 billion in 2025, rising from $720 million in 2015. The previous period was $1.40 billion in 2024. Find out what analysts predict for DTE Energy in the coming months.

DTE Energy's total operating income in 2025 was $2.37 billion, based on the following breakdown:
  • Total Gross Profit: $7.18 billion
  • Total Operating Expenses: $4.80 billion

Over the last 10 years, DTE Energy's total revenue changed from $10.34 billion in 2015 to $15.81 billion in 2025, a change of 53.0%.

DTE Energy's total liabilities were at $41.76 billion at the end of 2025, a 12.4% increase from 2024, and a 110.2% increase since 2015.

In the past 10 years, DTE Energy's cash and equivalents has ranged from $24 million in 2024 to $472 million in 2020, and is currently $208 million as of their latest financial filing in 2025.

Over the last 10 years, DTE Energy's book value per share changed from 27.58 in 2015 to 35.53 in 2025, a change of 28.8%.


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Financial statements for NYSE:DTE last updated on 7/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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