NYSE: DTE
DTE Energy
Utilities · Electric Services
52-week range
$119.68$155.75
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.$30.4B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $17.7B |
| FY2017, ended Dec 31, 2017 | $19.6B |
| FY2018, ended Dec 31, 2018 | $20.1B |
| FY2019, ended Dec 31, 2019 | $25.0B |
| FY2020, ended Dec 31, 2020 | $23.5B |
| FY2021, ended Dec 31, 2021 | $23.2B |
| FY2022, ended Dec 31, 2022 | $24.2B |
| FY2023, ended Dec 31, 2023 | $22.8B |
| FY2024, ended Dec 31, 2024 | $25.0B |
| FY2025, ended Dec 31, 2025 | $26.8B |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $30.4B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.$16.5B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $10.6B |
| FY2017, ended Dec 31, 2017 | $12.6B |
| FY2018, ended Dec 31, 2018 | $14.2B |
| FY2019, ended Dec 31, 2019 | $12.2B |
| FY2020, ended Dec 31, 2020 | $11.4B |
| FY2021, ended Dec 31, 2021 | $15.0B |
| FY2022, ended Dec 31, 2022 | $19.2B |
| FY2023, ended Dec 31, 2023 | $12.7B |
| FY2024, ended Dec 31, 2024 | $12.5B |
| FY2025, ended Dec 31, 2025 | $15.8B |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $16.5B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.$1.26B
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| Period | Net income |
|---|---|
| FY2016, ended Dec 31, 2016 | $868M |
| FY2017, ended Dec 31, 2017 | $1.13B |
| FY2018, ended Dec 31, 2018 | $1.12B |
| FY2019, ended Dec 31, 2019 | $1.17B |
| FY2020, ended Dec 31, 2020 | $1.37B |
| FY2021, ended Dec 31, 2021 | $907M |
| FY2022, ended Dec 31, 2022 | $1.08B |
| FY2023, ended Dec 31, 2023 | $1.40B |
| FY2024, ended Dec 31, 2024 | $1.40B |
| FY2025, ended Dec 31, 2025 | $1.46B |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $1.26B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.$238M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $92.0M |
| FY2017, ended Dec 31, 2017 | $66.0M |
| FY2018, ended Dec 31, 2018 | $71.0M |
| FY2019, ended Dec 31, 2019 | $93.0M |
| FY2020, ended Dec 31, 2020 | $472M |
| FY2021, ended Dec 31, 2021 | $28.0M |
| FY2022, ended Dec 31, 2022 | $33.0M |
| FY2023, ended Dec 31, 2023 | $26.0M |
| FY2024, ended Dec 31, 2024 | $24.0M |
| FY2025, ended Dec 31, 2025 | $208M |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $238M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.$26.7B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $11.9B |
| FY2017, ended Dec 31, 2017 | $13.0B |
| FY2018, ended Dec 31, 2018 | $14.4B |
| FY2019, ended Dec 31, 2019 | $17.6B |
| FY2020, ended Dec 31, 2020 | $19.6B |
| FY2021, ended Dec 31, 2021 | $18.3B |
| FY2022, ended Dec 31, 2022 | $19.3B |
| FY2023, ended Dec 31, 2023 | $21.0B |
| FY2024, ended Dec 31, 2024 | $23.2B |
| FY2025, ended Dec 31, 2025 | $26.2B |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | $26.7B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 15.9% since 2016.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.208M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 179M |
| FY2017, ended Dec 31, 2017 | 179M |
| FY2018, ended Dec 31, 2018 | 182M |
| FY2019, ended Dec 31, 2019 | 192M |
| FY2020, ended Dec 31, 2020 | 194M |
| FY2021, ended Dec 31, 2021 | 194M |
| FY2022, ended Dec 31, 2022 | 206M |
| FY2023, ended Dec 31, 2023 | 206M |
| FY2024, ended Dec 31, 2024 | 207M |
| FY2025, ended Dec 31, 2025 | 208M |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | 208M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Mar 31, 2026. Hover or tap a column for another year.Net: —
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| Period | Bought back | Sold for cash | Used in acquisitions |
|---|---|---|---|
| FY2016, ended Dec 31, 2016 | $33.0M | — | $390M |
| FY2017, ended Dec 31, 2017 | $51.0M | $0 | — |
| FY2018, ended Dec 31, 2018 | $0 | $0 | — |
| FY2019, ended Dec 31, 2019 | $0 | $1.02B | — |
| FY2020, ended Dec 31, 2020 | $0 | $2.00M | — |
| FY2021, ended Dec 31, 2021 | $66.0M | $0 | — |
| FY2022, ended Dec 31, 2022 | $55.0M | $1.30B | — |
| FY2023, ended Dec 31, 2023 | $0 | $0 | — |
| FY2024, ended Dec 31, 2024 | $0 | $0 | — |
| FY2025, ended Dec 31, 2025 | — | — | — |
| Trailing 12 months to Mar 31, 2026 (through Q1 FY2026) | — | — | — |
Revenue (TTM)
$16.5B
+20.9% YoY
Net income (TTM)
$1.26B
−17.7% YoY
Cash
$238M
+621% YoY
Total debt
$26.7B
+15.0% YoY
Valuation
At current price- Market Cap
- $28.2B
- P/E
- 22.3×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 1.7×
- Price / Book
- 2.3×
- EV / EBITDA
- 13.5×
Growth
Trailing 12 months- Revenue (TTM)
- $16.5B
- Revenue Growth YoY
- 20.9%
- Revenue CAGR 3Y
- −6.3%
- Revenue CAGR 5Y
- 6.7%
- EPS Growth YoY
- −17.8%
- Net Income Growth YoY
- −17.7%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 13.1%
- Net Margin
- 7.7%
- FCF Margin
- —. Free cash flow / revenue
- Return on Equity
- 10.4%
Earnings
Trailing 12 months- Net Income
- $1.26B
- EPS (diluted)
- $6.08
- EBITDA
- $4.03B
- Operating Income
- $2.16B
Balance Sheet
As of Mar 31, 2026- Cash and cash equivalents
- $238M
- Total Debt
- $26.7B
- Net Debt
- $26.5B
- Total Assets
- $55.1B
- Total Liabilities
- $42.8B
- Shareholders' Equity
- $12.3B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $3.29B
- Capital Expenditure
- —
- Free Cash Flow
- —. Operating cash flow − capital expenditure
Dividends and risk
Last 12 months- Dividend Yield
- 3.4%
- Dividend / Share
- $4.66
- Beta (5Y)
- 0.36
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 20.9% year over year, at $16.5B.
Watch
Operating margin narrowed 3.0 pts in a year, to 13.1%.
Watch
Net debt is 6.6× EBITDA ($26.5B), a heavy load.
Note
Pays a 3.4% dividend yield.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 31, 2025 · filed Feb 17, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K54Some concerns
54Some concerns
10-K for the fiscal year ended Dec 31, 2024
Filed Feb 13, 2025 · Read the filing on EDGAR
- Profit was nearly flat at $1,404 million versus $1,397 million, and revenue slipped slightly to about $12.5 billion from about $12.7 billion.
- Electric profit jumped to $1,072 million from $772 million, helped by new rates, better weather and tax credits, offsetting lower profit in every other segment.
- Energy Trading profit fell to $125 million from $336 million, and management expects near-term market conditions to remain challenging.
- DTE Electric's five-year investment plan rose to $24 billion from $20 billion, with growth funded mainly through new debt.
Business momentum
Stable
“The increase in 2024 Net Income Attributable to DTE Energy Company was primarily due to higher earnings in the Electric segment, partially offset by lower earnings in the Energy Trading, Gas, and DTE Vantage segments and Corporate and Other.”
Outlook
Positive
“DTE Energy's strong utility base, combined with its integrated non-utility operations, position it well for long-term growth.”
Financial stress
Moderate
“Repayment of the debt is expected to be made through internally generated funds and the issuance of short-term and/or long-term debt.”
Tone against the previous report
About the same
Red flags
None found in this report.
Positives
Electric earnings drove the year's profit
“primarily due to higher earnings in the Electric segment”
Operating cash flow grew
“Net cash from operations increased $423 million in 2024.”
Larger investment plan supports expected earnings growth
“DTE Electric expects that planned significant capital investments will result in earnings growth.”
Concerns
Energy Trading profit fell sharply and outlook is difficult
“In the near-term, Energy Trading expects market conditions to remain challenging.”
Planned spending exceeds expected operating cash
“DTE Energy expects that cash from operations in 2025 will be approximately $3.3 billion.”
Interest costs are rising with borrowing
“The increase in 2024 was primarily due to higher net interest expense of $79 million”
New risks since the previous report
Tax credits could be disallowed or changed
“If the Registrants' tax credits were disallowed in whole or in part as a result of an IRS audit or changes in tax law, there could be additional tax liabilities owed for previously recognized tax credits”
Renewable gas business relies on fuel programs
“DTE Energy's non-utility renewable natural gas investments are also dependent on the federal Renewable Fuel Standard and California's Low Carbon Fuel Standard.”
Biggest risks named
- Rate regulation and recovery of costs from customers
- Environmental rules, clean energy mandates and carbon reduction goals
- Access to capital markets, credit ratings and interest costs
- Energy trading volatility and collateral demands
- Extreme weather, aging infrastructure and large construction projects
Artificial intelligence in this business: Not mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | 0 | |
| Outlook | +3 | |
| Tone against the previous report | 0 | |
| Financial stress | −8 | |
| Red flags | 0 | |
| New risks | −1 | |
| Score | 54 | |
Written by AI (Claude Opus 5.5) from the report’s text. 11 of 11 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Feb 17, 2026 | Pro | |||
| 10-K | Feb 13, 2025 | 54 | Stable | None | |
| 10-K | Feb 8, 2024 | 51 | Mixed | 1 minor | |
| 10-K | Feb 23, 2023 | 50 | Mixed | None | |
| 10-K | Feb 10, 2022 | 50 | Mixed | None | |
| 10-K | Feb 19, 2021 | 66 | Improving | 1 minor | |
| 10-K | Feb 5, 2020 | 57 | Mixed | 1 minor | |
| 10-K | Feb 7, 2019 | 64 | Improving | 1 medium1 minor | |
| 10-K | Feb 16, 2018 | 73 | Strong improvement | 1 minor | |
| 10-K | Feb 9, 2017 | 74 | Strong improvement | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q1 FY2026 (period ended Mar 31, 2026), filed Apr 30, 2026. View filings on SEC EDGAR