DTE Energy Company

Electric Services

DTEStrained8 of 11 basics passed

$126.90

-0.16%

Market cap $26.4B

$126.90

-0.16%

Market cap $26.4B

DTE Energy owns two regulated utilities in Michigan that contribute 90% of earnings. DTE Electric serves approximately 2.3 million customers in southeastern Michigan, including Detroit.

It is a $26.4B utility company. Revenue grew 15.9% over the last year, it keeps 8¢ of every dollar of sales as profit, and it carries $26.1B of net debt. It trades at 20.1× earnings — around the middle of its own history.

Website: dteenergy.com
Location: Detroit, MI
Employees: 9 650
Sector: Utilities

Share price · 3 years

$97.36 → $126.90+30.3%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $16.5B
Profit: keeps 8¢ of every $1 sold; $1.32B
Free cash flow: cash left after running the business; -$1.57B
Net debt: debt minus cash on hand; $26.1B
P/E: years of profit in the price; 20.1
EPS: earnings per share, TTM; $6.34
Dividend: pays out 69% of profit; 3.42%
Shares: up 16% since 2016 — dilution; 207.5M
Volatility: beta vs the market — under 1 swings less; 0.38

Revenue, last 10 years

52-week range

Low $120.83$126.90High $154.43

Today's price is 18% of the way from the year's low to its high.

P/E vs its history5y

20.1×median 21.5×

Higher than 36% of past days — around the middle of its own history.

Valuation vs own history

P/E

20.1×

64%

P/S

1.6×

25%

EV/EBITDA

131.6×

P/B

2.2×

69%

FCF yield

8.1%

Share of the last ~5 years that was pricier than today (pricier than usual). Based on the daily valuation record.

Insider activity · 90 days

-$679Knet selling

Purchases$0

Sales$679K

Insiders trading, last 14d0 buy · 0 sell

Standing in Utilities

Size$26.4Btop 56%
Revenue growth+11%top 7%
Net margin7%top 86%
Return on equity11%top 49%
P/E20.1×top 45%
Dividend yield3.42%top 43%

Ranked against 44 Utilities companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Profitability, Health and Moat lag behind.

Valuation60

P/E vs own history36th pct · 20/25
FCF yield-5.9% · 0/25
P/S2.6x · 20/25
EV/EBITDA13.1x · 20/25

Growth51

Revenue CAGR1.4% · 6/25
Net income CAGR12.7% · 20/25
EPS CAGR ~5Y-0.2% · 0/25
Fwd implied growth30.6% · 25/25

Profitability42

ROIC3.8% · 5/25
ROE10.8% · 12/25
Net margin8.0% · 13/25
Operating margin12.0% · 12/25

Health24

Altman Z0.67 · 3/25
Current ratio0.80 · 6/25
Interest coverage2.7x · 10/25
Net cash / debtD/A 48% · 5/25

Quality60

Piotroski F5/9 · 15/25
Beneish M-2.46 · 20/25
FCF conversion-119% · 0/25
Margin stabilityσ 3.2% · 25/25

Moat18

ROIC >12% years0/6 yrs · 0/25
Median gross margin13.3% · 0/25
FCF-positive years0/5 yrs · 0/25
Worst-year net marginworst 5.6% · 18/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2025Financial
Best year on record
$1.46B net income
FY2016Financial
Profitable every year on record
10 consecutive profitable years in our data
FY2016Financial
Revenue already above $10B
$10.6B in first reported year

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$10 807 today — price return only

$15.8B revenue in FY2025

Revenue up 15.9% year over year

Profitable 10 years in a row

9 650 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Revenue growing 15.9% year over year

Watch-outs

Negative free cash flow (-$1.6B)
Altman Z-Score 0.67 — elevated financial-distress risk

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

8 of 11 checks passed

Revenue growing — the company sells more than a year ago+15.9% YoY
Profitable — makes more than it spends$1.32B TTM
Profit growing — earnings are higher than last year+8.5% YoY
Generates cash — cash left after running and investing-$1.57B TTM
Debt under control — could handle its obligationscurrent ratio 0.80
Established company — not a micro-cap — lower blow-up risk$26.4B market cap
Not printing shares — share count not ballooning — you keep your slice+7.5% shares over ~5y
Proven track record — years of profitability behind it10/10 profitable years
Financially stable — balance sheet not near distressAltman Z 0.7 — distress
Pays a dividend — returns cash to shareholdersyield 3.42%
Valuation not extreme — price not wildly above earningsP/E 20.1

Peer comparisonDTE Energy Company vs 6 largest utilities peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
DTE this company	$26.4B	20.1	+15.9%	8.0%	Strained
NEE NextEra Energy, Inc.	$161.3B	17.4	+10.8%	32.4%	Strained
CEG Constellation Energy Corporation	$105.8B	30.5	+26.0%	11.1%	Strained
SO The Southern Company	$99.1B	21.3	+6.4%	15.4%	Strained
DUK Duke Energy Corporation	$90.9B	17.3	+6.3%	15.8%	Strained
WMB Williams Companies Inc.	$89.2B	29.0	+8.7%	25.2%	Strained
KMI Kinder Morgan, Inc.	$72.4B	20.9	+12.5%	19.3%	Strained

Head-to-head: DTE vs NEE · DTE vs CEG · DTE vs SO

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 6Buy 8Hold 10

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $16.5B · net income $1.32B (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

RevenueNet income

Revenue (TTM)

$16.5B

YoY 15.9%

Net income (TTM)

$1.32B

Margin 8.0%

Operating margin

12.0%

P/E ratio

20.1

Dividend yield

3.42%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	12.2	15.0	19.2	12.7	12.5	15.8
Gross profit	2.0	—	1.7	—	—	—
Operating income (EBIT)	2.0	—	1.7	—	—	—
Net income	1.4	0.9	1.1	1.4	1.4	1.5
EPS (diluted)	7.09	4.67	5.53	6.76	6.77	7.03

Cash flowFree cash flow -$1.57B · operating cash flow $3.36B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

-$1.57B

Margin -9.5%

Operating cash flow (TTM)

$3.36B

FCF margin

-9.5%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	3.7	3.1	2.0	3.2	3.6	3.4
Capital expenditure	—	-3.8	-2.6	-3.9	-4.5	-4.4
Free cash flow	3.7	-0.7	-0.6	-0.7	-0.8	-1.0
FCF margin	30.4%	-4.7%	-3.4%	-5.6%	-6.6%	-6.4%

Balance sheetAssets $54.1B · net debt $26.1B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $54.1B of assets is financed

77%

23%

Liabilities $41.8B — borrowed moneyEquity $12.3B — owners' stake

Cash vs debt

Total debt $26.3B − cash $208M = net debt $26.1B

Cash on hand covers 1% of debt.

Altman Z-Score

0.67

Distress zone

Interest coverage

2.7x

EBIT ÷ interest expense

ROE

10.8%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.5	0.0	0.0	0.0	0.0	0.2
Total assets	45.5	39.7	42.7	44.8	48.8	54.1
Total liabilities	33.1	31.0	32.3	33.7	37.1	41.8
Total debt	19.0	18.3	18.0	21.0	23.2	26.3
Equity	12.4	8.7	10.4	11.1	11.7	12.3
Net debt	18.5	18.2	18.0	20.9	23.2	26.1

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of DTE on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $126.90 · market cap $26.4B.