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DTE Energy (DTE) stock

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NYSE: DTE NYSE Multi-Utilities Next results ~November 5, 2026

C Fundamentals grade

DTE Energy is a US-listed company in the multi-utilities industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 52% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 52% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

DTE Energy valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 2 selling0 purchases and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds551 adding, 347 cuttingOf 73 active managers that changed their stake, 31 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter DTE Energy files

Where DTE Energy stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $16.5bn, up 15.9% on a year earlier, slower than 20.9% a quarter earlier. That growth ranks 2 of 11 among the multi-utilities companies we cover. Free-cash-flow margin fell to 8.7% from 12.6% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 0 of our 2 financial-health checks. At that price, our model says the market is pricing in about 12.7% a year of cash-flow growth for five years, faster than the 1.9% a year revenue growth it has delivered.

Our model value for DTE Energy is under review, so past values are not shown until it is resolved.

Source: 10-Q filed July 28, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

DTE Energy's trailing-twelve-month revenue grew 15.9% year on year, with a free-cash-flow margin of 8.7%. Where it stands out: change in share count of 0.2% ranks 1 of 17 multi-utilities companies we cover. Where it lags: operating margin of 13.3% ranks 16 of 16 multi-utilities companies we cover.

Our discounted-cash-flow model values the business at ~$130 per share in the base case (~$62–$210 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth decelerating: TTM revenue growth slowed to 15.9% (-5.0pp vs the prior quarter), the 2nd consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 15.9% over the last 12 months, against a median of 7.8% for multi-utilities companies we cover.

Things to watch

  • High debt. Long-term debt exceeds cash by $25.9bn, more than 1.5 times annual revenue.
  • Growth easing. The growth rate is 5.0 points lower than a quarter earlier.
  • Below peers: operating margin. Operating margin of 13.3% ranks 16 of 16 multi-utilities companies we cover (median 20.5%).
  • Below peers: net margin. Net margin of 8.0% ranks 17 of 17 multi-utilities companies we cover (median 11.8%).

Latest results: FY2026 Q2

Filed July 28, 2026
Earnings per share
$1.32 against an average estimate of $1.14: beat by 16.3%
Revenue
$3.37bn, down 1.5% on a year earlier
Share reaction
0.0% in the first session after the results on July 31, 2026, against +2.2% for the S&P 500
Guidance given
annual capital expenditures $900m (2026)
Next report
November 5, 2026; average EPS estimate $2.15

DTE Energy's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.3%
  • 1 week+3.1%
  • 1 month+9.2%
  • This year+8.0%
  • 1 year+3.7%
  • 5 years+41.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$16.5B
Operating margin
13.3%
Net margin
8.0%
EPS (TTM, diluted)
$6.35

Growth

Revenue growth
+15.9%
Change in growth rate
−5.0 pts
Share count change
+0.2%

Cash

Free cash flow (TTM)
$1.4B
FCF margin
8.7%

Earnings

Last results
July 31, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Product
  2. Announcement
  3. Announcement
  4. Announcement
  5. Announcement
  6. Announcement
  7. Announcement
  8. Leadership
  9. Results
  10. Guidance
  11. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

DTE Energy valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 52% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value DTE Energy as an utility or power producer, with every model that fits that kind of business. Cost of equity 7%: the 10-year Treasury yield (4.9%) plus a beta of 0.46 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. ~$130 ~$110–$160 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$130 ~$130–$160 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$120 ~$99–$160 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$95 ~$68–$140 Included
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$120 ~$97–$160 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare DTE Energy with utilities and power producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$47.83$60.72$69.58$72.50$88.01$85.50$102.04$103.30$100.40$113.94$125.81$135.85
Market value$8.6bn$10.9bn$12.5bn$13.1bn$16.3bn$16.5bn$19.8bn$20.2bn$20.7bn$23.6bn$26.0bn$28.2bn
+ Net debt (− = net cash)$9.8bn$11.8bn$13.0bn$14.3bn$17.5bn$19.2bn$18.2bn$19.3bn$21.0bn$23.2bn$26.0bn$27.5bn
Enterprise value$18.3bn$22.6bn$25.4bn$27.4bn$33.8bn$35.7bn$38.0bn$39.5bn$41.6bn$46.8bn$52.0bn$55.7bn
Multiples
Price / sales 0.8x1.0x1.0x0.9x1.3x1.4x1.3x1.1x1.6x1.9x1.6x1.7x
Price / earnings 11.8x12.5x11.0x11.7x13.9x12.1x21.8x18.7x14.8x16.8x17.8x21.4x
Price / free cash flow ————————————
EV / EBITDA 8.8x9.2x9.3x10.1x13.0x12.5x13.2x12.3x10.8x12.2x12.3x13.6x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

55 /100

Moderate moat

How hard DTE Energy's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 2 / 20

    Net income has been a median 2.9% of total assets over 10 years.

  • Durability 13 / 20

    Operating margin has been a median 13.0%; its worst year was 8.7%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 10 of 10 years, at a median 10.0% of revenue.

  • Discipline 14 / 20

    The diluted share count rose 7.1% over five years; stock-based pay has been a median 0.9% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $3.4bn and EPS of $2.15 (range $2.04 to $2.35) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $7.70 +5% $16.0bn +1%
Next $8.31 +8% $16.6bn +4%

Next year's EPS estimate has moved −0.6% in 90 days, across 17 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.1% on 90 days ago. In the last 30 days, 1 analyst raised DTE Energy's forecast and 5 cut it.

Consensus EPS forecast DTE Energy, last 90 days
$7.60 $7.80 $8.00 $8.20 $8.40 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $7.71 Current fiscal year, 60 days ago: $7.71 Current fiscal year, 30 days ago: $7.71 Current fiscal year, 7 days ago: $7.71 Current fiscal year, Now: $7.70 $7.70 Next fiscal year, 90 days ago: $8.36 Next fiscal year, 60 days ago: $8.37 Next fiscal year, 30 days ago: $8.36 Next fiscal year, 7 days ago: $8.36 Next fiscal year, Now: $8.31 $8.31

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $7.71$8.36
60 days ago $7.71$8.37
30 days ago $7.71$8.36
7 days ago $7.71$8.36
Now $7.70$8.31

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.14 $1.32 +16.3%
Mar 2026 $2.03 $1.95 −4.1%
Dec 2025 $1.52 $1.65 +8.3%
Sept 2025 $2.11 $2.25 +6.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 31, 2026
  • annual capital expenditures 2026 about $900m
    “The Company has made certain commitments in connection with 2026 annual capital expenditures that are expected to be approximately $900 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

18 analysts, Oct 2026
Buy1056%
Hold844%
Sell00%

Monthly trend

  1. Oct 202628818
  2. Sep 20269717
  3. Aug 202628717
  4. Jul 202629718

Counts of recommendations published by analysts covering DTE Energy, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.2%
of tradable shares
Days to cover
3.1
at average volume
Short interest, 1 month
+14%
to October 15, 2026
Held by institutions
82%
of shares
Held by insiders
0.4%
of shares
Employees
9,592
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +3.7%

$131.03 on October 31, 2025 to $135.85

ThenNowEffect
Revenue (last 12 months) $14.2bn $16.5bn +15.9%
Net margin 10.2% 8.0% −21.3%
P/E multiple 18.8x 21.4x +13.9%
Share count 207m 208m −0.2%

Biggest factor: net margin.

Last 3 years +50.3%

$90.39 on November 3, 2023 to $135.85

ThenNowEffect
Revenue (last 12 months) $16.2bn $16.5bn +1.7%
Net margin 8.0% 8.0% −0.2%
P/E multiple 14.1x 21.4x +52.2%
Share count 202m 208m −2.7%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
DTE+19%+1%−3%+14%+10%+8%
Industry peers (median)+10%+3%−2%+14%+14%+10%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
DTE50%67%50%58%42%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
DTE−11%−25%−20%−10%−10%−21%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 42% from February 21, 2020 to March 23, 2020. Getting back needed a 74% gain, reached on November 10, 2020, 232 days after the low.

Price behaviour

52-week range
$120.83 – $153.03
From 52-week high
−11.2%
vs 50-day average
+4.6%
vs 200-day average
−2.3%
Volatility (1 year)
18%
Beta vs S&P 500
-0.05

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±1.6%
After a week
5 up, 7 down
typical move ±2.5%
After a month
4 up, 8 down
typical move ±3.0%
Results releasedNext dayS&P 500 next day5 days21 days
July 31, 2026 0.0% +2.2% −1.3% −4.3%
July 28, 2026 −2.5% −1.3% −3.7% −6.5%
May 1, 2026 −3.3% −0.1% −7.3% −6.0%
April 30, 2026 +1.2% +1.3% −3.4% −4.9%
February 27, 2026 +0.7% −0.4% +2.4% +0.4%
February 17, 2026 −1.6% +0.7% +0.8% +2.2%
October 31, 2025 −3.0% +0.5% −0.9% −4.7%
October 30, 2025 −2.4% −0.8% −3.4% −4.0%
July 31, 2025 +2.3% −2.0% +3.6% +0.9%
July 29, 2025 −1.4% −0.4% +1.6% +0.8%
May 2, 2025 +0.6% +0.9% +0.2% −0.2%
May 1, 2025 −0.5% +2.2% −0.9% −0.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

DTE Energy in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) DTE Energy
$12B $14B $16B $18B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $13.8B Revenue (TTM), FY23 Q4: $12.7B Revenue (TTM), FY24 Q1: $12.2B Revenue (TTM), FY24 Q2: $12.4B Revenue (TTM), FY24 Q3: $12.4B Revenue (TTM), FY24 Q4: $12.5B Revenue (TTM), FY25 Q1: $13.7B Revenue (TTM), FY25 Q2: $14.2B Revenue (TTM), FY25 Q3: $14.8B Revenue (TTM), FY25 Q4: $15.8B Revenue (TTM), FY26 Q1: $16.5B Revenue (TTM), FY26 Q2: $16.5B $16.5B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $13.8B
FY23 Q4 $12.7B
FY24 Q1 $12.2B
FY24 Q2 $12.4B
FY24 Q3 $12.4B
FY24 Q4 $12.5B
FY25 Q1 $13.7B
FY25 Q2 $14.2B
FY25 Q3 $14.8B
FY25 Q4 $15.8B
FY26 Q1 $16.5B
FY26 Q2 $16.5B
Revenue growth, TTM YoY DTE Energy
-40% -20% 0% 20% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -28.7% Revenue growth, TTM YoY, FY23 Q4: -33.7% Revenue growth, TTM YoY, FY24 Q1: -33.8% Revenue growth, TTM YoY, FY24 Q2: -23.4% Revenue growth, TTM YoY, FY24 Q3: -10.2% Revenue growth, TTM YoY, FY24 Q4: -2.3% Revenue growth, TTM YoY, FY25 Q1: 11.9% Revenue growth, TTM YoY, FY25 Q2: 14.6% Revenue growth, TTM YoY, FY25 Q3: 19.4% Revenue growth, TTM YoY, FY25 Q4: 26.9% Revenue growth, TTM YoY, FY26 Q1: 20.9% Revenue growth, TTM YoY, FY26 Q2: 15.9% 15.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -28.7%
FY23 Q4 -33.7%
FY24 Q1 -33.8%
FY24 Q2 -23.4%
FY24 Q3 -10.2%
FY24 Q4 -2.3%
FY25 Q1 11.9%
FY25 Q2 14.6%
FY25 Q3 19.4%
FY25 Q4 26.9%
FY26 Q1 20.9%
FY26 Q2 15.9%
Operating margin (TTM) DTE Energy
12% 14% 16% 18% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 14.8% Operating margin (TTM), FY23 Q4: 17.6% Operating margin (TTM), FY24 Q1: 17.3% Operating margin (TTM), FY24 Q2: 17.9% Operating margin (TTM), FY24 Q3: 17.7% Operating margin (TTM), FY24 Q4: 16.8% Operating margin (TTM), FY25 Q1: 16.1% Operating margin (TTM), FY25 Q2: 14.9% Operating margin (TTM), FY25 Q3: 15.0% Operating margin (TTM), FY25 Q4: 15.0% Operating margin (TTM), FY26 Q1: 13.1% Operating margin (TTM), FY26 Q2: 13.3% 13.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 14.8%
FY23 Q4 17.6%
FY24 Q1 17.3%
FY24 Q2 17.9%
FY24 Q3 17.7%
FY24 Q4 16.8%
FY25 Q1 16.1%
FY25 Q2 14.9%
FY25 Q3 15.0%
FY25 Q4 15.0%
FY26 Q1 13.1%
FY26 Q2 13.3%
FCF margin (TTM) DTE Energy
8% 10% 12% 14% 16% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 10.0% FCF margin (TTM), FY23 Q4: 12.7% FCF margin (TTM), FY24 Q1: 13.9% FCF margin (TTM), FY24 Q2: 12.8% FCF margin (TTM), FY24 Q3: 13.7% FCF margin (TTM), FY24 Q4: 15.3% FCF margin (TTM), FY25 Q1: 13.6% FCF margin (TTM), FY25 Q2: 12.6% FCF margin (TTM), FY25 Q3: 11.0% FCF margin (TTM), FY25 Q4: 9.9% FCF margin (TTM), FY26 Q1: 8.6% FCF margin (TTM), FY26 Q2: 8.7% 8.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 10.0%
FY23 Q4 12.7%
FY24 Q1 13.9%
FY24 Q2 12.8%
FY24 Q3 13.7%
FY24 Q4 15.3%
FY25 Q1 13.6%
FY25 Q2 12.6%
FY25 Q3 11.0%
FY25 Q4 9.9%
FY26 Q1 8.6%
FY26 Q2 8.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar DTE Energy took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $15.8B
  2. Other operating costs $13.4B · 85.0%
  3. Operating income $2.4B · 15.0%
  4. Income tax $88M · 0.6%
  5. Interest and other $824M · 5.2%
  6. Net income $1.5B · 9.2%

Shares of revenue. Source: DTE Energy's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 8.5 8.9 8.8 9.7 12.3 10.3 10.6 12.6 14.2 12.2 11.4 15.0 19.2 12.7 12.5 15.8 16.5
EBITDA 2.5 2.4 2.3 2.3 2.7 2.1 2.5 2.7 2.7 2.6 2.8 2.9 3.2 3.8 3.8 4.2 4.1
Operating income 1.5 1.4 1.3 1.2 1.6 1.2 1.5 1.7 1.6 1.4 1.6 1.5 1.7 2.2 2.1 2.4 2.2
Net income 0.6 0.7 0.6 0.7 0.9 0.7 0.9 1.1 1.1 1.2 1.4 0.9 1.1 1.4 1.4 1.5 1.3
Diluted EPS $3.74 $4.18 $3.55 $3.76 $5.10 $4.05 $4.83 $6.32 $6.17 $6.31 $7.08 $4.67 $5.52 $6.76 $6.77 $7.03 $6.35
Growth (year on year)
Revenue — +3.9% −0.8% +9.9% +27.3% −16.0% +2.8% +18.6% +12.7% −14.4% −6.1% +31.0% +28.5% −33.7% −2.3% +26.9% +15.9%
EBITDA — −3.2% −4.9% 0.0% +19.1% −23.5% +17.7% +11.3% −0.8% −4.4% +9.5% +0.9% +12.0% +19.7% −0.7% +10.3% +5.2%
Operating income — −3.3% −10.0% −5.9% +32.2% −22.1% +19.9% +15.1% −6.8% −10.3% +8.7% −3.9% +16.9% +28.3% −6.8% +13.5% +3.3%
Net income — +12.9% −14.2% +8.4% +36.9% −19.7% +19.4% +30.6% −1.2% +4.4% +17.0% −33.7% +19.4% +29.0% +0.5% +4.1% −8.7%
Diluted EPS — +11.8% −15.1% +5.9% +35.6% −20.6% +19.3% +30.8% −2.4% +2.3% +12.2% −34.0% +18.2% +22.5% +0.1% +3.8% −9.0%
Margins
EBITDA margin 29.3% 27.3% 26.1% 23.8% 22.2% 20.2% 23.2% 21.7% 19.1% 21.4% 24.9% 19.2% 16.7% 30.2% 30.7% 26.7% 25.0%
Operating margin 17.2% 16.0% 14.5% 12.5% 12.9% 12.0% 14.0% 13.6% 11.2% 11.8% 13.6% 10.0% 9.1% 17.6% 16.8% 15.0% 13.3%
Net margin 7.4% 8.0% 6.9% 6.8% 7.4% 7.0% 8.2% 9.0% 7.9% 9.6% 12.0% 6.1% 5.6% 11.0% 11.3% 9.2% 8.0%
Cash flow
Cash from operations 1.8 2.0 2.2 2.2 1.8 1.9 2.1 2.1 2.7 2.6 3.7 3.1 2.0 3.2 3.6 3.4 3.4
Stock-based pay 0.1 0.1 0.1 0.1 — — — — — — — — — — — — —
Balance sheet
Cash 0.1 0.1 0.1 0.1 0.0 0.0 0.1 0.1 0.1 0.1 0.5 0.0 0.0 0.0 0.0 0.2 0.0
Total debt 8.2 8.1 8.1 8.2 9.0 9.8 11.9 13.0 14.4 17.6 19.6 18.3 19.3 21.0 23.2 26.2 27.6
Net debt (negative = net cash) 8.1 8.1 8.0 8.2 9.0 9.8 11.8 13.0 14.3 17.5 19.2 18.2 19.3 21.0 23.2 26.0 27.5
Diluted shares 169m 169m 171m 175m 177m 179m 179m 179m 181m 185m 193m 194m 196m 206m 207m 207m 208m
Returned to shareholders
Dividends 0.4 0.4 0.4 0.4 0.5 0.5 0.5 0.6 0.6 0.7 0.8 0.8 0.7 0.8 0.8 0.9 0.9
Buybacks 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.1 0.0 0.0 0.0 0.1 0.1 0.0 0.0 — —
Total returned 0.4 0.4 0.4 0.4 0.5 0.5 0.6 0.6 0.6 0.7 0.8 0.9 0.7 0.8 0.8 0.9 0.9

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 6 checks passed · June 30, 2026
What it owns · $56.2bn
Short-term assets $4.0bnLonger-term assets $52.2bn
What it owes, and who funded it · $17.2bn
Short-term liabilities $5.0bnShareholders' equity $12.1bn
  • Short-term assets cover short-term liabilities $4.0bn of assets due within a year against $5.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $42m of cash against $25.9bn of debt.
  • Debt below 40% of shareholders' equity Debt is 213% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 201% to 213% over five years.
  • A year's operating cash flow covers at least 20% of debt $3.4bn of operating cash flow against $25.9bn of debt.
  • Operating profit covers interest at least five times over Operating income of $2.2bn against $1.1bn of interest.

From DTE Energy's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$903M
Diluted share count
+0.2%
year over year
Total shareholder yield
3.2%
dividends 3.2% + buybacks 0.0% of market value
Dividend payout ratio
69%
of net income paid out
Days sales outstanding
37 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in multi-utilities
Last 12 months unless stated DTE ED D XEL SRE PCG Median
Revenue, last 12 months $16.5bn $17.7bn $18.1bn $14.9bn $13.6bn $25.8bn $9.0bn
Revenue growth, last 12 months 15.9% 9.5% 19.0% 4.5% 1.6% 4.1% 7.8%
Revenue growth, 3-year average 0.6% 4.4% 6.9% 0.1% −7.2% 4.2% 2.3%
Revenue growth, latest quarter −1.5% 13.2% 17.6% 6.6% −0.1% −1.0% 6.6%
Operating margin 13.3% 18.0% 21.1% 21.7% — 20.2% 20.4%
Operating margin, 3-year average 15.4% 17.5% 23.4% 19.1% — 19.0% 20.4%
Net margin 8.0% 12.5% 14.0% 17.9% 16.8% 11.6% 11.8%
Cash from operations / revenue 20.4% 22.4% 29.7% 34.1% 40.0% 30.3% 28.8%
Free-cash-flow margin 8.7% 9.2% 16.1% −51.2% −38.7% −19.3% −13.3%
Free-cash-flow margin, 3-year average 11.4% 9.6% 18.9% −33.5% −31.1% −15.0% −7.6%
Stock pay / revenue 0.7% — — 0.3% 0.7% 0.5% 0.5%
Change in share count 0.2% 3.4% 2.7% 6.3% 1.3% 1.4% 2.2%

Median of all 17 companies we cover in multi-utilities. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

17 multi-utilities companies
Measure Company Peer median Rank
Revenue growth Growth 15.9% 7.8% 3 of 17
Change in growth rate Growth -5.0pp -0.2pp 16 of 17
Operating margin Profitability 13.3% 20.5% 16 of 16
Net margin Profitability 8.0% 11.8% 17 of 17
Free-cash-flow margin Cash generation 8.7% -13.3% 5 of 17
Long-term debt as % of assets Balance sheet 46.0% 39.5% 15 of 16
Change in share count Balance sheet 0.2% 2.2% 1 of 17
Days sales outstanding Balance sheet 37 days 39 days 7 of 14

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$25.7B
Institutions reporting
1,028
Shares held vs prior quarter
▲ 1.4%
Positions opened / closed
115 / 74

Top buyers and sellers, Q2 2026: 551 institutions bought and 347 sold ; the biggest buyer was Blackrock, Inc (+3.3M shares) and the biggest seller Capital Research Global Investors (−1.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $3.9B 25.7M 15.2% ▲ 14.6%
Vanguard Capital Management LLC $1.9B 12.6M 7.4% ▲ 0.6%
Capital Research Global Investors $1.9B 12.5M 7.4% ▼ 12.1%
State Street Corp $1.7B 11.2M 6.7% ▲ 1.1%
Vanguard Portfolio Management LLC $1.7B 11.2M 6.6% ▼ 5.7%
Capital World Investors $1.5B 10.0M 5.9% ▼ 8.6%
Geode Capital Management, LLC $891M 5.9M 3.5% ▲ 1.6%
Ameriprise Financial Inc $854M 5.6M 3.3% ▼ 2.5%
Jupiter Topco LLC $477M 3.1M 1.9% —
Invesco Ltd. $455M 3.0M 1.8% ▼ 0.2%
Bank Of America Corp $417M 2.7M 1.6% ▲ 59.3%
AQR Capital Management LLC $397M 2.6M 1.5% ▲ 333.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not DTE Energy's complete shareholder register. Values are as reported by the filers ; 5 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $822,280 2 trades by 2 insiders · 0% under pre-set plans
Net ▼ $822,280 net selling
Insider Date Trade Shares Price Value
Lauer Trevor F Vice Chairman & Group Pres. September 1, 2026 Sell 5,000 $135.71 $678,560
Muschong Lisa A. VP, Corp Sec & Chief of Staff May 14, 2026 Sell 1,000 $143.72 $143,720

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 7 trades and filings

No trades in DTE Energy disclosed in the last 12 months; 7 earlier trades on record.

  • Jonathan L. Jackson(D-IL 1):Sale (full), $15,001 - $50,000, traded September 26, 2023, filed November 1, 2023
  • Pete Sessions(R-TX 17):Sale (full), $1,001 - $15,000, traded January 19, 2022, filed February 11, 2022
  • Dean Phillips(D-MN 3):Sale (full), $1,001 - $15,000, traded January 5, 2021, filed February 13, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

  • July 31, 2026
  • July 28, 2026
  • May 1, 2026
  • April 30, 2026
  • February 27, 2026
  • February 17, 2026

Recent SEC filings

Data status

When each part of this page on DTE Energy was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

DTE Energy in brief

What does DTE Energy do?
DTE Energy is a US-listed company in the multi-utilities industry. Its financial year ends in December.
What is DTE Energy's stock ticker?
DTE Energy trades under the ticker DTE on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is DTE Energy's revenue, and how fast is it growing?
Over its most recent trailing twelve months, DTE Energy reported revenue of $16.5B, 15.9% higher than a year earlier, according to its SEC filings.
What is DTE Energy's free cash flow?
DTE Energy's free-cash-flow margin is 8.7% of revenue over the trailing twelve months, ranking 5 of the 17 multi-utilities companies we cover.
Who are DTE Energy's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Capital Research Global Investors. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is DTE Energy's market cap?
On November 2, 2026, DTE Energy's market capitalisation was about $28.2B, with a price-to-earnings ratio of 21.4 and net debt of $27.5B. Market figures come from third-party market data and may be delayed.
Does DTE Energy pay a dividend?
Yes: DTE Energy paid $903M in dividends over the trailing twelve months, a dividend yield of 3.19% and a payout ratio of 68.6%.
How much debt does DTE Energy have?
DTE Energy's debt-to-equity ratio is 213.1%, from its latest balance sheet (201.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are DTE Energy's competitors?
In our Multi-Utilities peer group, the companies closest to DTE Energy are Consolidated Edison, Dominion Energy, Xcel Energy, Sempra and PG&E Corporation. The side-by-side comparison below sets their revenue, margins and growth against DTE Energy's.
Are insiders buying or selling DTE Energy stock?
Over the last 12 months, DTE Energy's directors and officers reported 0 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is DTE Energy's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — DTE Energy announces its own schedule.