DTE Energy Company 2020 Series (DTB) 10-Year Financial Performance & Capital Metrics

DTB • • Utilities

UtilitiesElectric UtilitiesMulti-Utility CompaniesDual Electric & Gas Utilities

AboutDTE Energy Co. operates as a diversified energy company, which engages in the development and management of energy-related businesses and services. It operates through the following segments: Electric, Gas, DTE Vantage, Energy Trading, and Corporate and Other. The Electric segment consists of generation, purchase, distribution, and sale of electricity to residential, commercial, and industrial customers in southeastern Michigan. The Gas segment is involved in the purchase, storage, transportation, distribution, and sale of natural gas to residential, commercial, and industrial customers throughout Michigan, and the sale of storage and transportation capacity. The DTE Vantage segment focuses on projects that deliver energy and utility-type products and services to industrial, commercial, and institutional customers, produce reduced emissions fuel, and sell electricity and pipeline-quality gas from renewable energy projects. The Energy Trading segment covers energy marketing and trading operations. The Corporate and Other segment includes various holding company activities, holds certain non-utility debt, and holds certain investments, as well as funds supporting regional development and economic growth. The company was founded in January 1995 and is headquartered in Detroit, MI.Show more

Revenue $12.46B -2.3%
EBITDA $3.82B +13.3%
Net Income $1.4B +0.5%
Free Cash Flow -$794M -15.2%
EBITDA Margin 30.69% +15.9%
Net Margin 11.27% +2.8%
ROE 12.34% -5.3%
Interest Coverage 2.20 -16.4%
Debt/Equity 1.99 +4.7%
Net Debt/EBITDA 6.07 -2.0%
CapEx / Revenue 35.86% +16.2%
CapEx Coverage 0.82 -0.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.3x book value

✗Weaknesses

✗High leverage: 6.1x Debt/EBITDA

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.13%

5Y0.47%

3Y-5.93%

TTM18.63%

Profit (Net Income) CAGR

10Y4.5%

5Y3.73%

3Y15.68%

TTM-9.54%

EPS CAGR

10Y2.87%

5Y1.45%

3Y13.23%

TTM-9.49%

ROCE

10Y Avg5.01%

5Y Avg4.84%

3Y Avg5.38%

Latest5.06%

Peer Comparison

Dual Electric & Gas Utilities

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AQNBAlgonquin Power & Utilities Cor		25.60	170.63	-14.03%	-57.66%	-26.75%		1.09
ESEversource Energy	26.15B	69.69	30.70	-0.08%	10.22%	8.3%		1.92
PPLPPL Corporation	26.42B	35.71	29.76	1.8%	12.16%	7.58%		1.19
LNTAlliant Energy Corporation	17.24B	67.06	24.93	-1.14%	19.13%	11.19%		1.49
DDominion Energy, Inc.	51.53B	60.34	24.73	0.46%	14.77%	7.36%		1.38
PEGPublic Service Enterprise Group Incorporated	39.64B	79.41	22.43	-8.43%	17.77%	12.24%		1.42
WECWEC Energy Group, Inc.	35.18B	108.16	22.39	-3.3%	17.76%	12.1%	1.22%	1.59
XELXcel Energy Inc.	44.58B	75.36	21.91	-5.38%	11.01%	9.04%		1.55

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	10.32B	10.74B	12.58B	14.2B	12.17B	11.53B	14.96B	19.23B	12.74B	12.46B
Revenue Growth %	-0.16%	0.04%	0.17%	0.13%	-0.14%	-0.05%	0.3%	0.28%	-0.34%	-0.02%
Cost of Revenue	8.57B	8.81B	10.56B	12.09B	9.15B	9.46B	11.63B	16.92B	8.42B	2.26B
Gross Profit+	1.75B	1.93B	2.02B	2.11B	3.02B	2.07B	3.34B	2.31B	4.33B	10.2B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.43%	0.1%	0.04%	0.05%	0.43%	-0.31%	0.61%	-0.31%	0.88%	1.36%
Operating Expenses+	364M	370M	391M	405M	1.59B	395M	1.84B	457M	2.08B	8.1B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	2.29B	2.6B	2.71B	2.87B	2.31B	3B	2.53B	3.36B	3.38B	3.82B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	0.02%	0.14%	0.04%	0.06%	-0.2%	0.3%	-0.16%	0.33%	0%	0.13%
Depreciation & Amortization+	898M	1.03B	1.08B	1.17B	880M	1.33B	1.03B	1.51B	1.13B	1.73B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	1.39B	1.56B	1.62B	1.7B	1.43B	1.68B	1.5B	1.85B	2.24B	2.09B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.12%	0.12%	0.04%	0.05%	-0.16%	0.17%	-0.11%	0.24%	0.21%	-0.07%
Interest Expense+	437M	452M	524M	547M	680M	637M	669M	717M	853M	951M
Interest Coverage	3.18x	3.45x	3.10x	3.11x	2.10x	2.63x	2.23x	2.58x	2.63x	2.20x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Pretax Income+	950M	1.1B	1.29B	1.22B	1.01B	1.08B	656M	1.11B	1.57B	1.37B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	230M	271M	175M	98M	71M	37M	-130M	29M	169M	-34M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	725M	866M	1.13B	1.12B	1.17B	1.37B	907M	1.08B	1.4B	1.4B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.2%	0.19%	0.31%	-0.01%	0.05%	0.17%	-0.34%	0.19%	0.29%	0.01%
EPS (Diluted)+	4.05	4.84	6.32	6.18	6.31	7.08	4.67	5.51	6.77	6.78
EPS Growth %	-0.21%	0.2%	0.31%	-0.02%	0.02%	0.12%	-0.34%	0.18%	0.23%	0%
EPS (Basic)	4.05	4.84	6.32	6.18	6.31	7.08	4.69	5.54	6.77	6.78
Diluted Shares Outstanding	179M	179M	179M	181M	185M	193M	194M	196M	206M	207M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	28.66B	32.04B	33.77B	36.29B	42.27B	45.5B	39.72B	42.68B	44.76B	48.84B
Asset Growth %	0.03%	0.12%	0.05%	0.07%	0.16%	0.08%	-0.13%	0.07%	0.05%	0.09%
PP&E (Net)+	18.03B	19.73B	20.72B	21.65B	25.49B	24.61B	27.04B	28.86B	28.3B	0
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	2.58B	2.76B	3.08B	3.26B	3.09B	3.5B	3.32B	4.18B	3.54B	3.61B
Cash & Equivalents	60M	113M	89M	76M	93M	474M	35M	43M	51M	88M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	803M	772M	779M	811M	759M	708M	858M	942M	1.05B	0
Other Current Assets	459M	376M	478M	589M	347M	649M	736M	1.16B	647M	1.69B
Long-Term Investments	2.08B	2.38B	2.92B	3.46B	4.03B	2.53B	2.85B	2.59B	2.9B	3.54B
Goodwill	2.02B	2.29B	2.29B	2.29B	2.46B	1.99B	1.99B	1.99B	1.99B	1.99B
Intangible Assets	2.11B	842M	867M	849M	2.39B	199M	177M	166M	156M	144M
Other Assets	-2.07B	-121M	2B	2.8B	4.81B	9.85B	2.18B	4.87B	7.86B	39.56B
Total Liabilities	19.87B	22.54B	23.78B	25.57B	30.43B	32.91B	31.01B	32.28B	33.7B	37.14B
Total Debt+	9.73B	11.78B	12.91B	14.24B	17.61B	19.61B	18.25B	19.24B	20.97B	23.24B
Net Debt	9.67B	11.67B	12.83B	14.17B	17.52B	19.13B	18.22B	19.2B	20.92B	23.22B
Long-Term Debt	8.74B	11.26B	12.18B	12.13B	15.92B	18.98B	14.51B	16.86B	17.41B	20.67B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	15M	7M	1M	7M	138M	107M	93M	79M	121M	206M
Total Current Liabilities+	2.53B	2.44B	2.81B	4.44B	4B	2.69B	6.35B	5.17B	5.88B	5.11B
Accounts Payable	809M	1.08B	1.17B	1.33B	1.08B	1B	1.41B	1.6B	1.36B	1.39B
Accrued Expenses	89M	96M	111M	127M	0	158M	140M	154M	0	0
Deferred Revenue	131M	148M	158M	172M	379M	210M	171M	2.39B	0	0
Other Current Liabilities	527M	601M	642M	874M	994M	800M	975M	-1.28B	1.08B	1.33B
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	8.58B	8.84B	8.78B	9B	7.89B	9.06B	7.89B	7.77B	7.64B	8.22B
Total Equity+	8.79B	9.5B	9.99B	10.72B	11.84B	12.59B	8.71B	10.4B	11.05B	11.7B
Equity Growth %	0.05%	0.08%	0.05%	0.07%	0.1%	0.06%	-0.31%	0.19%	0.06%	0.06%
Shareholders Equity	8.77B	9.01B	9.51B	10.24B	11.67B	12.43B	8.71B	10.4B	11.05B	11.7B
Minority Interest	23M	488M	478M	480M	164M	164M	8M	4M	5M	5M
Common Stock	4.12B	4.03B	3.99B	4.25B	5.23B	5.41B	5.38B	6.65B	6.71B	6.78B
Additional Paid-in Capital	0	0	0	0	0	0	0	0	0	0
Retained Earnings	4.79B	5.11B	5.64B	6.11B	6.59B	7.16B	3.44B	3.81B	4.4B	4.95B
Accumulated OCI	4.12B	-133M	-120M	-120M	-148M	-137M	-112M	-62M	-67M	-26M
Return on Assets (ROA)	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.02%	0.03%	0.03%	0.03%
Return on Equity (ROE)	0.08%	0.09%	0.12%	0.11%	0.1%	0.11%	0.09%	0.11%	0.13%	0.12%
Debt / Equity	1.11x	1.24x	1.29x	1.33x	1.49x	1.56x	2.09x	1.85x	1.90x	1.99x
Debt / Assets	0.34%	0.37%	0.38%	0.39%	0.42%	0.43%	0.46%	0.45%	0.47%	0.48%
Net Debt / EBITDA	4.23x	4.50x	4.74x	4.93x	7.58x	6.37x	7.21x	5.72x	6.20x	6.07x
Book Value per Share	49.13	53.07	55.81	59.21	63.98	65.23	44.91	53.07	53.67	56.54

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.94B	2.1B	2.13B	2.69B	2.66B	3.72B	3.08B	1.99B	3.25B	3.67B
Operating CF Growth %	0.05%	0.08%	0.02%	0.26%	-0.01%	0.4%	-0.17%	-0.35%	0.63%	0.13%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	725M	866M	1.13B	1.12B	1.17B	1.37B	907M	1.08B	1.39B	1.4B
Depreciation & Amortization	-898M	1.03B	1.08B	1.17B	1.32B	1.33B	1.44B	1.51B	1.67B	1.79B
Deferred Taxes	237M	265M	196M	114M	329M	407M	-32M	44M	181M	194M
Other Non-Cash Items	103M	2.08B	2.27B	2.22B	-17M	153M	423M	-59M	2M	-37M
Working Capital Changes	-23M	-36M	-261M	336M	-214M	401M	281M	-644M	3M	328M
Capital Expenditures+	-2.02B	-3.29B	-2.25B	-2.71B	-6B	-3.86B	-3.77B	-3.38B	-3.93B	-4.47B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-2.3B	-3.29B	-2.52B	-3.3B	-6B	-4.06B	-3.84B	-3.44B	-4.12B	-4.98B
Acquisitions	-202M	-1.03B	50M	53M	-2.73B	-77M	47M	27M	5M	46M
Purchase of Investments	-996M	-1.7B	-1.52B	-1.82B	-943M	-2.39B	-1.05B	-891M	-705M	-1.64B
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	36M	31M	-37M	-21M	-120M	-87M	-105M	-81M	-165M	-529M
Cash from Financing+	254M	1.25B	371M	601M	3.36B	760M	271M	1.46B	881M	1.34B
Dividends Paid	-501M	-531M	-592M	-620M	-692M	-760M	-791M	-685M	-752M	-810M
Dividend Payout Ratio %	0.69%	0.61%	0.52%	0.55%	0.59%	0.56%	0.87%	0.63%	0.54%	0.58%
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Stock Issued	9M	654M	0	0	2.29B	2M	0	1.3B	0	0
Share Repurchases	0	-33M	-51M	0	0	0	-66M	-55M	0	0
Other Financing	12M	100M	-121M	-106M	-138M	-502M	-527M	-89M	-39M	-23M
Net Change in Cash+	-11M	76M	-24M	-13M	17M	381M	-439M	8M	8M	37M
Exchange Rate Effect	0	0	0	0	0	-1000K	1000K	0	0	0
Cash at Beginning	48M	37M	113M	89M	76M	93M	474M	35M	43M	51M
Cash at End	37M	113M	89M	76M	93M	474M	35M	43M	51M	88M
Free Cash Flow+	-85M	-1.19B	-123M	-24M	-3.35B	-136M	-687M	-1.39B	-689M	-794M
FCF Growth %	0.58%	-13.01%	0.9%	0.8%	-138.38%	0.96%	-4.05%	-1.02%	0.5%	-0.15%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.46%	9.47%	11.62%	10.8%	10.37%	11.19%	8.52%	11.3%	13.02%	12.34%
EBITDA Margin	22.15%	24.17%	21.53%	20.22%	18.98%	26.06%	16.88%	17.47%	26.48%	30.69%
Net Debt / EBITDA	4.23x	4.50x	4.74x	4.93x	7.58x	6.37x	7.21x	5.72x	6.20x	6.07x
Interest Coverage	3.18x	3.45x	3.10x	3.11x	2.10x	2.63x	2.23x	2.58x	2.63x	2.20x
CapEx / Revenue	19.57%	30.6%	17.89%	19.11%	49.34%	33.46%	25.21%	17.57%	30.87%	35.86%
Dividend Payout Ratio	69.1%	61.32%	52.3%	55.46%	59.2%	55.64%	87.21%	63.43%	53.83%	57.69%
Debt / Equity	1.11x	1.24x	1.29x	1.33x	1.49x	1.56x	2.09x	1.85x	1.90x	1.99x
EPS Growth	-20.74%	19.51%	30.58%	-2.22%	2.1%	12.2%	-34.04%	17.99%	22.87%	0.15%

Revenue by Segment

	2011	2012	2013	2014	2015	2016	2018	2020	2021	2023
Electric	-	5.29B	5.2B	5.28B	4.9B	5.22B	5.3B	5.52B	5.82B	5.82B
Electric Growth	-	-	-1.78%	1.62%	-7.23%	6.61%	1.40%	4.19%	5.45%	-0.05%
Energy Trading	1.28B	1.11B	1.77B	3.76B	2.46B	2.58B	5.56B	3.86B	6.83B	4.61B
Energy Trading Growth	-	-13.09%	59.69%	112.42%	-34.64%	4.72%	115.81%	-30.48%	76.83%	-32.48%
Gas	-	1.31B	1.47B	1.64B	1.38B	1.32B	1.44B	1.41B	1.55B	1.75B
Gas Growth	-	-	12.09%	10.99%	-15.89%	-3.78%	8.46%	-1.53%	9.83%	12.56%
DTE Vantage	-	-	-	-	-	-	-	-	1.48B	809M
DTE Vantage Growth	-	-	-	-	-	-	-	-	-	-45.41%

Frequently Asked Questions

Valuation & Price

DTE Energy Company 2020 Series (DTB) has a price-to-earnings (P/E) ratio of 2.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

DTE Energy Company 2020 Series (DTB) reported $14.82B in revenue for fiscal year 2024. This represents a 67% increase from $8.90B in 2011.

DTE Energy Company 2020 Series (DTB) saw revenue decline by 2.3% over the past year.

Yes, DTE Energy Company 2020 Series (DTB) is profitable, generating $1.38B in net income for fiscal year 2024 (11.3% net margin).

Dividend & Returns

Yes, DTE Energy Company 2020 Series (DTB) pays a dividend with a yield of 22.18%. This makes it attractive for income-focused investors.

DTE Energy Company 2020 Series (DTB) has a return on equity (ROE) of 12.3%. This is reasonable for most industries.

DTE Energy Company 2020 Series (DTB) had negative free cash flow of $853.0M in fiscal year 2024, likely due to heavy capital investments.

Industry Metrics

DTE Energy Company 2020 Series (DTB) has a dividend payout ratio of 58%. This suggests the dividend is well-covered and sustainable.

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