One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
DTE Energy Company
DTE · NYQ · Utilities · Utilities - Regulated Electric
Current price
$126.90
52-week range
$119.68 - $155.75
Market cap
$26.41B
Balance sheet
Distressed
2.39x Stretched
Net debt $27.80B. Interest coverage shows how many times profit covers the interest bill.
What stands out
2 Rewards
2 Risks
2 rewards · 2 risks
- Reward Revenue grew 4.1% last year.
- Reward Dividend yield is 3.7% with 65-year payout history.
- Risk Net debt grew 35.8% over 3 years.
- Risk Stock trades 9.0% above its 5-year average P/E.
What this company does
DTE Energy Company
DTE Energy primarily provides electricity and natural gas to millions of homes and businesses in Michigan, much like a local utility company. This means their main income comes from people and businesses paying their monthly bills for power and gas. It matters because reliable energy is essential for everyday life and how businesses operate, making DTE a foundational service provider.
How the company got here
DTE Energy traces its roots back to 1849, evolving over more than a century to become a major energy provider. It was originally founded as the Detroit Gas Company, a testament to the growing industrial needs of the burgeoning city. Through a series of mergers and acquisitions, it expanded its services beyond gas to include electricity, eventually becoming the diversified energy company it is today. This long history has allowed DTE to build extensive infrastructure and establish a deep understanding of the energy needs of its service areas.
What it actually does
DTE Energy is essentially a large utility company that provides essential energy services to millions of people and businesses. Think of it like the company that makes sure the lights stay on and the stoves can be lit in homes and factories. It generates, buys, and delivers electricity and natural gas, ensuring a reliable supply for everyday life and industrial operations. The company operates a vast network of power plants, pipelines, and distribution systems to meet these fundamental needs.
Electric
The Electric segment is DTE's largest business, responsible for generating, purchasing, and distributing electricity to about 2.3 million customers in southeastern Michigan. This is the part of the company that powers homes, businesses, and factories with electricity. They use a mix of energy sources, including coal, natural gas, nuclear power, and increasingly, renewable sources like wind and solar. This segment is the backbone of DTE's operations, serving a densely populated and industrially significant region.
Gas
The Gas segment focuses on delivering natural gas to approximately 1.4 million customers across Michigan, serving both homes and businesses. This involves purchasing, storing, transporting, and distributing natural gas, ensuring it reaches consumers safely and reliably. It's the part of DTE that keeps homes warm in the winter and allows for cooking and industrial processes that rely on natural gas. This segment also sells capacity for storing and transporting gas, adding another revenue stream.
DTE Vantage
DTE Vantage is a distinct business that provides specialized industrial services beyond basic electricity and gas. It produces and sells metallurgical and petroleum coke, which are crucial materials for the steel industry. Additionally, it offers industrial customers services like power generation, steam production, chilled water, wastewater treatment, and compressed air. This segment caters to the specific, often large-scale, operational needs of heavy industries.
Energy Trading
The Energy Trading segment operates in the more complex world of energy markets, engaging in the buying and selling of power, natural gas, and environmental credits. This involves sophisticated strategies to optimize the company's energy resources and positions. It's a more dynamic part of the business that seeks to profit from market fluctuations and manage energy supply contracts efficiently.
What management is betting on now
DTE Energy's management is focused on modernizing its energy infrastructure and transitioning towards cleaner energy sources. A key priority is investing in renewable energy projects, like wind and solar farms, to reduce carbon emissions and meet evolving environmental standards. They are also focused on enhancing the reliability of their existing electric and gas systems to prevent outages and ensure consistent service. These strategic moves aim to balance the need for dependable energy with the growing demand for sustainable practices.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
Revenue
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Net income
$247.00M
Diluted EPS
1.19
Operating cash flow
$906.00M
Free cash flow
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Sources
Revenue
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Net income
$369.00M
Diluted EPS
1.78
Operating cash flow
$1.05B
Free cash flow
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Sources
Revenue
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Net income
$419.00M
Diluted EPS
2.01
Operating cash flow
$632.00M
Free cash flow
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Revenue
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Net income
$229.00M
Diluted EPS
1.10
Operating cash flow
$709.00M
Free cash flow
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Revenue
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Net income
$445.00M
Diluted EPS
2.14
Operating cash flow
$1.02B
Free cash flow
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Revenue
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Net income
$292.00M
Diluted EPS
1.41
Operating cash flow
$1.08B
Free cash flow
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Revenue
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Net income
$477.00M
Diluted EPS
2.30
Operating cash flow
$758.00M
Free cash flow
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Revenue
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Net income
$322.00M
Diluted EPS
1.55
Operating cash flow
$759.00M
Free cash flow
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Is it cheap or expensive?
Fair value — vs current price $126.90
We couldn't calculate a fair value right now.
Is it drowning in debt?
Distressed
Net debt $27.8B. Interest coverage 2.4x.
Net debt
$27.80B
Interest coverage
2.39x
DTE Energy Company is healthier than 0 of 1 peers on balance-sheet leverage.
Distressed
Worse cushion
Baseline
Better cushion
DTE
BASELINE
DTE Energy Company
Total debt $27.84B Interest coverage 2.39x This is the baseline the peer rows are being compared against.
What you should know
The case for and against DTE
2 Rewards
2 Risks
Rewards
-
Revenue grew 4.1% last year.
-
Dividend yield is 3.7% with 65-year payout history.
Risks
-
Net debt grew 35.8% over 3 years.
-
Stock trades 9.0% above its 5-year average P/E.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
20.11x
Forward P/E
15.17x
P/B
2.17x
P/S
1.60x
EV/EBITDA
14.99x
PEG ratio
1.63x
Profitability
How much profit each dollar creates
Gross margin
29.3%
Operating margin
13.6%
Net margin
8.0%
ROE
11.0%
ROA
2.8%
Health
Liquidity and balance-sheet strength
Debt / equity
2.29x
Current ratio
0.80x
Quick ratio
0.40x
Total debt
$27.84B
Total cash
$42.00M
Growth
How the business has been compounding
Revenue TTM
$13.12B
Revenue 5Y CAGR
6.9%
EPS TTM
6.31
EPS 5Y CAGR
8.4%
Cash flow
How much cash the business throws off
Operating CF TTM
$3.29B
Free CF TTM
$-1.02B
FCF margin
-7.8%
Dividend
Shareholder payout
Yield
3.7%
Payout ratio
72.7%
Last ex-div date
2026-09-21