8-K Announcements
6Apr 30, 2026·SEC
Feb 19, 2026·SEC
Jan 29, 2026·SEC
DT Midstream, Inc. (DTM) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
DT Midstream, Inc. (DTM) stock price & volume — 10-year historical chart
DT Midstream, Inc. (DTM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
DT Midstream, Inc. (DTM) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 30, 2026 | $1.27vs $1.11+14.4% | $336Mvs $314M+7.1% |
| Q1 2026 | Feb 19, 2026 | $1.08vs $1.11-2.7% | $317Mvs $317M-0.0% |
| Q4 2025 | Oct 30, 2025 | $1.13vs $1.03+9.7% | $314Mvs $320M-1.9% |
| Q3 2025 | Jul 31, 2025 | $1.04vs $0.98+6.1% | $309Mvs $312M-1.1% |
DT Midstream, Inc. (DTM) competitors in Natural Gas Pipelines and Storage — business model, growth, and fundamentals comparison
DT Midstream, Inc. (DTM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
DT Midstream, Inc. (DTM) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 485M | 504M | 754M | 840M | 920M | 922M | 981M | 1.24B | 1.28B |
| Revenue Growth % | - | 3.92% | 49.6% | 11.41% | 9.52% | 0.22% | 6.4% | 26.71% | 22.22% |
| Cost of Goods Sold | 122M | 104M | 327M | 397M | 437M | 427M | 453M | 329M | 466M |
| COGS % of Revenue | 25.15% | 20.63% | 43.37% | 47.26% | 47.5% | 46.31% | 46.18% | 26.47% | - |
| Gross Profit | 363M▲ 0% | 400M▲ 10.2% | 427M▲ 6.8% | 443M▲ 3.7% | 483M▲ 9.0% | 495M▲ 2.5% | 528M▲ 6.7% | 914M▲ 73.1% | 810M▲ 0% |
| Gross Margin % | 74.85% | 79.37% | 56.63% | 52.74% | 52.5% | 53.69% | 53.82% | 73.53% | 63.48% |
| Gross Profit Growth % | - | 10.19% | 6.75% | 3.75% | 9.03% | 2.48% | 6.67% | 73.11% | - |
| Operating Expenses | 212M | 242M | 15M | 24M | 28M | 28M | 39M | 300M | 178M |
| OpEx % of Revenue | 43.71% | 48.02% | 1.99% | 2.86% | 3.04% | 3.04% | 3.98% | 24.14% | - |
| Selling, General & Admin | 0 | 19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A % of Revenue | - | 3.77% | - | - | - | - | - | - | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 90M | 223M | 15M | 24M | 28M | 28M | 39M | 300M | 4M |
| Operating Income | 273M▲ 0% | 368M▲ 34.8% | 412M▲ 12.0% | 419M▲ 1.7% | 455M▲ 8.6% | 467M▲ 2.6% | 489M▲ 4.7% | 614M▲ 25.6% | 632M▲ 0% |
| Operating Margin % | 56.29% | 73.02% | 54.64% | 49.88% | 49.46% | 50.65% | 49.85% | 49.4% | 49.53% |
| Operating Income Growth % | - | 34.8% | 11.96% | 1.7% | 8.59% | 2.64% | 4.71% | 25.56% | - |
| EBITDA | 354M | 478M | 581M | 603M | 644M | 667M | 716M | 889M | 905M |
| EBITDA Margin % | 72.99% | 94.84% | 77.06% | 71.79% | 70% | 72.34% | 72.99% | 71.52% | 70.92% |
| EBITDA Growth % | - | 35.03% | 21.55% | 3.79% | 6.8% | 3.57% | 7.35% | 24.16% | 20.19% |
| D&A (Non-Cash Add-back) | 81M | 110M | 169M | 184M | 189M | 200M | 227M | 275M | 273M |
| EBIT | 400M | 367M | 553M | 534M | 619M | 650M | 657M | 759M | 573M |
| Net Interest Income | -60M | -67M | -104M | -108M | -134M | -149M | -146M | -159M | -120M |
| Interest Income | 9M | 8M | 9M | 4M | 3M | 1M | 7M | 2M | 0 |
| Interest Expense | 69M | 75M | 113M | 112M | 137M | 150M | 153M | 161M | 161M |
| Other Income/Expense | 58M | -76M | 28M | 3M | 27M | 33M | 15M | -16M | -10M |
| Pretax Income | 331M▲ 0% | 292M▼ 11.8% | 440M▲ 50.7% | 422M▼ 4.1% | 482M▲ 14.2% | 500M▲ 3.7% | 504M▲ 0.8% | 598M▲ 18.7% | 622M▲ 0% |
| Pretax Margin % | 68.25% | 57.94% | 58.36% | 50.24% | 52.39% | 54.23% | 51.38% | 48.11% | 48.75% |
| Income Tax | 72M | 72M | 116M | 104M | 100M | 104M | 137M | 144M | 145M |
| Effective Tax Rate % | 21.75% | 24.66% | 26.36% | 24.64% | 20.75% | 20.8% | 27.18% | 24.08% | 23.31% |
| Net Income | 231M▲ 0% | 204M▼ 11.7% | 312M▲ 52.9% | 307M▼ 1.6% | 370M▲ 20.5% | 384M▲ 3.8% | 354M▼ 7.8% | 441M▲ 24.6% | 467M▲ 0% |
| Net Margin % | 47.63% | 40.48% | 41.38% | 36.55% | 40.22% | 41.65% | 36.09% | 35.48% | 36.6% |
| Net Income Growth % | - | -11.69% | 52.94% | -1.6% | 20.52% | 3.78% | -7.81% | 24.58% | 27.95% |
| Net Income (Continuing) | 259M | 220M | 324M | 318M | 382M | 396M | 367M | 454M | 477M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 457M | 155M | 155M | 149M | 147M | 141M | 139M | 142M | 142M |
| EPS (Diluted) | 2.38▲ 0% | 2.11▼ 11.3% | 3.22▲ 52.6% | 3.17▼ 1.6% | 3.81▲ 20.2% | 3.94▲ 3.4% | 3.60▼ 8.6% | 4.43▲ 23.1% | 4.55▲ 0% |
| EPS Growth % | - | -11.34% | 52.61% | -1.55% | 20.19% | 3.41% | -8.63% | 23.06% | 24.04% |
| EPS (Basic) | 2.38 | 2.11 | 3.22 | 3.17 | 3.83 | 3.96 | 3.63 | 4.47 | - |
| Diluted Shares Outstanding | 96.86M | 96.86M | 96.86M | 96.73M | 97.2M | 97.5M | 98.4M | 102.5M | 102.7M |
| Basic Shares Outstanding | 96.86M | 96.7M | 96.86M | 96.73M | 96.7M | 96.9M | 97.6M | 101.6M | 101.8M |
| Dividend Payout Ratio | - | - | - | 182.08% | 65.95% | 68.49% | 79.1% | 73.47% | - |
DT Midstream, Inc. (DTM) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 313M | 300M | 483M | 360M | 262M | 272M | 310M | 318M | 0 |
| Cash & Short-Term Investments | 26M | 46M | 42M | 132M | 61M | 56M | 68M | 54M | 0 |
| Cash Only | 26M | 46M | 42M | 132M | 61M | 56M | 68M | 54M | 0 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 59M | 110M | 400M | 178M | 161M | 169M | 180M | 188M | 0 |
| Days Sales Outstanding | 44.4 | 79.66 | 193.63 | 77.35 | 63.88 | 66.9 | 66.97 | 55.21 | 37.69 |
| Inventory | 0 | 0 | 0 | 25M | 22M | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | 22.98 | 18.38 | - | - | - | - |
| Other Current Assets | 228M | 144M | 41M | 25M | 18M | 47M | 62M | 76M | 0 |
| Total Non-Current Assets | 4.56B | 7.49B | 7.86B | 7.81B | 8.57B | 8.71B | 9.63B | 10.03B | 0 |
| Property, Plant & Equipment | 1.92B | 3.11B | 3.52B | 3.53B | 3.84B | 4.47B | 5.58B | 0 | 0 |
| Fixed Asset Turnover | 0.25x | 0.16x | 0.21x | 0.24x | 0.24x | 0.21x | 0.18x | - | 0.30x |
| Goodwill | 299M | 471M | 473M | 473M | 473M | 473M | 776M | 781M | 0 |
| Intangible Assets | 745M | 2.19B | 2.14B | 2.08B | 2.02B | 1.97B | 1.92B | 1.86B | 0 |
| Long-Term Investments | 1.58B | 1.68B | 1.69B | 1.69B | 2.2B | 1.76B | 1.3B | 1.26B | 3.81B |
| Other Non-Current Assets | 19M | 26M | 21M | 32M | -34M | 35M | 55M | 6.13B | 156M |
| Total Assets | 4.88B▲ 0% | 7.79B▲ 59.7% | 8.34B▲ 7.1% | 8.17B▼ 2.1% | 8.83B▲ 8.2% | 8.98B▲ 1.7% | 9.94B▲ 10.6% | 10.35B▲ 4.2% | 0▲ 0% |
| Asset Turnover | 0.10x | 0.06x | 0.09x | 0.10x | 0.10x | 0.10x | 0.10x | 0.12x | 0.17x |
| Asset Growth % | - | 59.67% | 7.13% | -2.11% | 8.17% | 1.69% | 10.61% | 4.19% | -67.81% |
| Total Current Liabilities | 1.77B | 3.4B | 3.29B | 177M | 614M | 434M | 426M | 296M | 150M |
| Accounts Payable | 44M | 49M | 39M | 22M | 119M | 94M | 77M | 65M | 57M |
| Days Payables Outstanding | 131.64 | 171.97 | 43.53 | 20.23 | 99.39 | 80.35 | 62.04 | 72.11 | 59.14 |
| Short-Term Debt | 1.69B | 2.92B | 3.17B | 10M | 330M | 165M | 150M | 16M | 46M |
| Deferred Revenue (Current) | 0 | 0 | 771M | 82M | 4M | 18M | 18M | 0 | 67M |
| Other Current Liabilities | 41M | 414M | -714M | 2M | 86M | 126M | 92M | 215M | 47M |
| Current Ratio | 0.18x | 0.09x | 0.15x | 2.03x | 0.43x | 0.63x | 0.73x | 1.07x | 1.07x |
| Quick Ratio | 0.18x | 0.09x | 0.15x | 1.89x | 0.39x | 0.63x | 0.73x | 1.07x | 1.07x |
| Cash Conversion Cycle | - | - | - | 80.1 | -17.14 | - | - | - | -21.45 |
| Total Non-Current Liabilities | 0 | 663M | 826M | 3.97B | 4.07B | 4.27B | 4.74B | 5.18B | 5.11B |
| Long-Term Debt | 0 | 0 | 0 | 3.04B | 3.06B | 3.06B | 3.32B | 3.36B | 0 |
| Capital Lease Obligations | 0 | 31M | 28M | 21M | 19M | 27M | 36M | 32M | 105M |
| Deferred Tax Liabilities | 0 | 0 | 743M | 856M | 923M | 1.03B | 1.13B | 1.54B | 5.27B |
| Other Non-Current Liabilities | 0 | 632M | 55M | 55M | 36M | 34M | 124M | 88M | 4.13B |
| Total Liabilities | 1.77B | 4.06B | 4.11B | 4.14B | 4.68B | 4.7B | 5.17B | 5.47B | 5.26B |
| Total Debt | 1.69B | 2.97B | 3.22B | 3.08B | 3.42B | 3.27B | 3.52B | 3.4B | 46M |
| Net Debt | 1.66B | 2.92B | 3.18B | 2.95B | 3.36B | 3.21B | 3.45B | 3.35B | 46M |
| Debt / Equity | 0.65x | 0.80x | 0.76x | 0.77x | 0.82x | 0.76x | 0.74x | 0.70x | 0.70x |
| Debt / EBITDA | 4.77x | 6.21x | 5.54x | 5.11x | 5.32x | 4.90x | 4.92x | 3.83x | 0.05x |
| Net Debt / EBITDA | 4.69x | 6.11x | 5.47x | 4.89x | 5.22x | 4.82x | 4.82x | 3.77x | 3.77x |
| Interest Coverage | 5.80x | 4.89x | 4.89x | 4.77x | 4.52x | 4.33x | 4.29x | 4.71x | 3.56x |
| Total Equity | 2.61B▲ 0% | 3.72B▲ 42.6% | 4.23B▲ 13.5% | 4.02B▼ 4.9% | 4.15B▲ 3.3% | 4.28B▲ 3.0% | 4.77B▲ 11.4% | 4.88B▲ 2.3% | 4.89B▲ 0% |
| Equity Growth % | - | 42.57% | 13.53% | -4.9% | 3.31% | 3.03% | 11.36% | 2.35% | 26.94% |
| Book Value per Share | 26.97 | 38.45 | 43.65 | 41.57 | 42.74 | 43.90 | 48.43 | 47.59 | 47.66 |
| Total Shareholders' Equity | 2.15B | 3.57B | 4.07B | 3.87B | 4.01B | 4.14B | 4.63B | 4.74B | 4.75B |
| Common Stock | 0 | 0 | 0 | 1M | 1M | 1M | 1M | 1M | 1M |
| Retained Earnings | 361M | 501M | 751M | 431M | 547M | 661M | 723M | 827M | 867M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -13M | -13M | -11M | -10M | -10M | -8M | -8M | -7M | -7M |
| Minority Interest | 457M | 155M | 155M | 149M | 147M | 141M | 139M | 142M | 142M |
DT Midstream, Inc. (DTM) cash flow — operating, investing & free cash flow history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 359M | 390M | 597M | 572M | 725M | 798M | 763M | 916M | 916M |
| Operating CF Margin % | 74.02% | 77.38% | 79.18% | 68.1% | 78.8% | 86.55% | 77.78% | 73.69% | - |
| Operating CF Growth % | - | 8.64% | 53.08% | -4.19% | 26.75% | 10.07% | -4.39% | 20.05% | 82.25% |
| Net Income | 259M | 220M | 312M | 307M | 382M | 384M | 367M | 441M | 467M |
| Depreciation & Amortization | 81M | 110M | 169M | 184M | 189M | 200M | 227M | 275M | 281M |
| Stock-Based Compensation | 0 | 6M | 6M | 12M | 17M | 20M | 23M | 0 | 12M |
| Deferred Taxes | 0 | 68M | 111M | 104M | 70M | 110M | 120M | 137M | 137M |
| Other Non-Cash Items | 0 | 37M | 30M | 19M | 27M | 31M | 4M | 88M | 91M |
| Working Capital Changes | 19M | -51M | -31M | -54M | 40M | 53M | 22M | -25M | -62M |
| Change in Receivables | 2M | -20M | -16M | -43M | 8M | 7M | 11M | -24M | -28M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -1M | 0 | -1M | -6M | 7M | -5M | 11M | -13M | -6M |
| Cash from Investing | -720M | -2.56B | -714M | 123M | -854M | -351M | -1.08B | -414M | -414M |
| Capital Expenditures | -176M | -211M | -518M | -140M | -338M | -772M | 0 | -426M | -274M |
| CapEx % of Revenue | 36.29% | 41.87% | 68.7% | 16.67% | 36.74% | 83.73% | 35.68% | 34.27% | - |
| Acquisitions | -650M | -2.44B | -35M | -11M | -557M | 0 | -1.2B | 17M | 12M |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | 106M | 91M | -161M | 274M | 41M | 421M | 117M | 0 | -149M |
| Cash from Financing | 349M | 2.19B | 113M | -605M | 58M | -452M | 330M | -516M | -449M |
| Debt Issued (Net) | 131M | 1.24B | 253M | -133M | -5M | -165M | 230M | -150M | -65M |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 406M | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | -559M | -244M | -263M | -280M | -324M | -332M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 218M | 956M | -140M | 87M | 307M | -24M | -26M | -42M | -52M |
| Net Change in Cash | -12M▲ 0% | 20M▲ 266.7% | -4M▼ 120.0% | 90M▲ 2350.0% | -71M▼ 178.9% | -5M▲ 93.0% | 12M▲ 340.0% | -14M▼ 216.7% | 67M▲ 0% |
| Free Cash Flow | 183M▲ 0% | 179M▼ 2.2% | 79M▼ 55.9% | 432M▲ 446.8% | 387M▼ 10.4% | 26M▼ 93.3% | 413M▲ 1488.5% | 490M▲ 18.6% | 727M▲ 0% |
| FCF Margin % | 37.73% | 35.52% | 10.48% | 51.43% | 42.07% | 2.82% | 42.1% | 39.42% | 56.97% |
| FCF Growth % | - | -2.19% | -55.87% | 446.84% | -10.42% | -93.28% | 1488.46% | 18.64% | 63% |
| FCF per Share | 1.89 | 1.85 | 0.82 | 4.47 | 3.98 | 0.27 | 4.20 | 4.78 | 4.78 |
| FCF Conversion (FCF/Net Income) | 1.55x | 1.91x | 1.91x | 1.86x | 1.96x | 2.08x | 2.16x | 2.08x | 1.56x |
| Interest Paid | 67M | 75M | 113M | 103M | 125M | 140M | 140M | 0 | 0 |
| Taxes Paid | 2M | 8M | 3M | 3M | 24M | 22M | 12M | 0 | 0 |
DT Midstream, Inc. (DTM) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 6.44% | 7.85% | 7.44% | 9.05% | 9.11% | 7.83% | 9.15% | 9.61% |
| Return on Invested Capital (ROIC) | 5.06% | 4.4% | 4.37% | 4.71% | 4.67% | 4.67% | 5.6% | 5.6% |
| Gross Margin | 79.37% | 56.63% | 52.74% | 52.5% | 53.69% | 53.82% | 73.53% | 63.48% |
| Net Margin | 40.48% | 41.38% | 36.55% | 40.22% | 41.65% | 36.09% | 35.48% | 36.6% |
| Debt / Equity | 0.80x | 0.76x | 0.77x | 0.82x | 0.76x | 0.74x | 0.70x | 0.70x |
| Interest Coverage | 4.89x | 4.89x | 4.77x | 4.52x | 4.33x | 4.29x | 4.71x | 3.56x |
| FCF Conversion | 1.91x | 1.91x | 1.86x | 1.96x | 2.08x | 2.16x | 2.08x | 1.56x |
| Revenue Growth | 3.92% | 49.6% | 11.41% | 9.52% | 0.22% | 6.4% | 26.71% | 22.22% |
DT Midstream, Inc. (DTM) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 30, 2026·SEC
Feb 19, 2026·SEC
Jan 29, 2026·SEC
DT Midstream, Inc. (DTM) stock FAQ — growth, dividends, profitability & financials explained
DT Midstream, Inc. (DTM) reported $1.28B in revenue for fiscal year 2025. This represents a 163% increase from $485.0M in 2018.
DT Midstream, Inc. (DTM) grew revenue by 26.7% over the past year. This is strong growth.
Yes, DT Midstream, Inc. (DTM) is profitable, generating $467.0M in net income for fiscal year 2025 (35.5% net margin).
Yes, DT Midstream, Inc. (DTM) pays a dividend with a yield of 2.19%. This makes it attractive for income-focused investors.
DT Midstream, Inc. (DTM) has a return on equity (ROE) of 9.1%. This is below average, suggesting room for improvement.
DT Midstream, Inc. (DTM) generated $727.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
DT Midstream, Inc. (DTM) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates