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DT Midstream, Inc. cash flow statement

In fiscal 2025, DT Midstream, Inc.'s operations generated $867m of cash; it spent $426m on capital projects, leaving free cash flow of $441m. It returned $324m in dividends.

Cash flow statement

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

Fiscal year2019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations390597572725798763867938
Depreciation and amortisation93152166170182209258275
Stock-based pay66121720232625
Capital spending211518140338772350426405
Free cash flow1797943238726413441533
Free cash flow after stock pay173734203706390415508
Dividends paid0058244263280324345
Share buybacks—0030———
Shares issued———004060—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from DT Midstream, Inc.'s SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to DT Midstream, Inc.