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

DTE • • Utilities

UtilitiesElectric UtilitiesMulti-Utility CompaniesDual Electric & Gas Utilities

AboutDTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets. This segment owns and operates approximately 698 distribution substations and 449,800 line transformers. The company's Gas segment purchases, stores, transports, distributes, and sells natural gas to approximately 1.3 million residential, commercial, and industrial customers throughout Michigan; and sells storage and transportation capacity. This segment has approximately 20,000 miles of distribution mains; 1,304,000 service pipelines; and 1,305,000 active meters, as well as owns approximately 2,000 miles of transmission pipelines. The company's Power and Industrial Projects segment offers metallurgical coke; pulverized coal and petroleum coke to the steel, pulp and paper, and other industries; and power, steam and chilled water production, and wastewater treatment services, as well as supplies compressed air to industrial customers. Its Energy Trading segment engages in power, natural gas, and environmental marketing and trading; structured transactions; and the optimization of contracted natural gas pipeline transportation and storage positions. The company was founded in 1903 and is headquartered in Detroit, Michigan.Show more

Revenue $12.46B -2.3%
EBITDA $3.82B -0.7%
Net Income $1.4B +0.5%
Free Cash Flow -$824M -15.4%
EBITDA Margin 30.69% +1.6%
Net Margin 11.27% +2.8%
ROE 12.34% -5.3%
Interest Coverage 2.20 -22.5%
Debt/Equity 1.99 +4.7%
Net Debt/EBITDA 6.07 +11.6%
CapEx / Revenue 35.86% +16.2%
CapEx Coverage 0.82 -0.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Healthy dividend yield of 2.8%

✗Weaknesses

✗High leverage: 6.1x Debt/EBITDA

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.13%

5Y0.47%

3Y-5.93%

TTM19.39%

Profit (Net Income) CAGR

10Y4.49%

5Y3.73%

3Y15.68%

TTM-36.77%

EPS CAGR

10Y2.87%

5Y1.42%

3Y13.18%

TTM-36.95%

ROCE

10Y Avg4.86%

5Y Avg4.73%

3Y Avg5.29%

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		25.58	170.53	-14.03%	-57.66%	-26.75%		1.09
ESEversource Energy	25.66B	68.40	30.13	-0.08%	10.22%	8.3%		1.92
PPLPPL Corporation	25.88B	34.98	29.15	1.8%	12.16%	7.58%		1.19
LNTAlliant Energy Corporation	17.01B	66.17	24.60	-1.14%	19.13%	11.19%		1.49
DDominion Energy, Inc.	50.4B	59.02	24.19	0.46%	14.77%	7.36%		1.38
PEGPublic Service Enterprise Group Incorporated	39.3B	78.73	22.24	-8.43%	17.77%	12.24%		1.42
WECWEC Energy Group, Inc.	34.47B	105.96	21.94	-3.3%	17.76%	12.1%	1.25%	1.59
XELXcel Energy Inc.	44.33B	74.94	21.78	-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+	10.34B	10.63B	12.61B	14.21B	12.17B	11.42B	14.96B	19.23B	12.74B	12.46B
Revenue Growth %	-0.16%	0.03%	0.19%	0.13%	-0.14%	-0.06%	0.31%	0.28%	-0.34%	-0.02%
Cost of Revenue	7.78B	7.79B	9.43B	11.06B	9.15B	8.14B	11.63B	15.56B	8.42B	8.12B
Gross Profit+	2.56B	2.84B	3.17B	3.15B	3.02B	3.28B	3.34B	3.67B	4.33B	4.34B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.17%	0.11%	0.12%	-0.01%	-0.04%	0.09%	0.02%	0.1%	0.18%	0%
Operating Expenses+	1.32B	1.35B	1.46B	1.56B	1.59B	1.72B	1.84B	1.92B	2.08B	2.25B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	2.09B	2.46B	2.74B	2.72B	2.69B	3B	2.95B	3.22B	3.85B	3.82B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	-0.24%	0.18%	0.11%	-0.01%	-0.01%	0.11%	-0.01%	0.09%	0.2%	-0.01%
Depreciation & Amortization+	852M	976M	1.03B	1.12B	1.26B	1.44B	1.46B	1.47B	1.61B	1.73B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	1.24B	1.49B	1.71B	1.59B	1.43B	1.55B	1.5B	1.75B	2.24B	2.09B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.22%	0.2%	0.15%	-0.07%	-0.1%	0.09%	-0.04%	0.17%	0.28%	-0.07%
Interest Expense+	450M	472M	536M	559M	568M	601M	630M	675M	791M	951M
Interest Coverage	2.75x	3.15x	3.19x	2.85x	2.52x	2.59x	2.37x	2.59x	2.84x	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+	727M	868M	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%	0.04%	0.17%	-0.34%	0.19%	0.29%	0.01%
EPS (Diluted)+	4.05	4.83	6.32	6.17	6.31	7.08	4.67	5.52	6.76	6.77
EPS Growth %	-0.21%	0.19%	0.31%	-0.02%	0.02%	0.12%	-0.34%	0.18%	0.22%	0%
EPS (Basic)	4.05	4.84	6.32	6.18	6.32	7.09	4.68	5.53	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	48.85B
Asset Growth %	0.02%	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	31.08B
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	37M	92M	66M	71M	93M	472M	28M	33M	26M	24M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	803M	772M	779M	811M	759M	708M	858M	942M	1.05B	1.25B
Other Current Assets	387M	305M	380M	481M	347M	776M	601M	1.02B	672M	447M
Long-Term Investments	1.94B	2.27B	2.8B	3.37B	3.79B	2.23B	381M	330M	334M	304M
Goodwill	2.02B	2.29B	2.29B	2.29B	2.46B	1.99B	1.99B	1.99B	1.99B	1.99B
Intangible Assets	89M	842M	867M	849M	2.39B	199M	177M	166M	156M	144M
Other Assets	4.01B	4.15B	2.12B	2.89B	5.05B	12.97B	6.81B	4.76B	7.78B	11.72B
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	9.7B	11.69B	12.85B	14.17B	17.52B	19.14B	18.22B	19.21B	20.94B	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	171M	123M	107M	92M	138M	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	147M	158M	140M	154M	170M	224M
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	658M	749M	800M	874M	1.23B	1.01B	1.15B	1.12B	910M	885M
Deferred Taxes	1000K	1000K	1000K	1000K	0	0	1000K	1000K	1000K	1000K
Other Liabilities	4.66B	4.67B	6.89B	7.02B	10.37B	11.13B	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	-145M	-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	4.64x	4.75x	4.69x	5.21x	6.50x	6.38x	6.17x	5.97x	5.44x	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+	1.92B	2.08B	2.12B	2.68B	2.65B	3.7B	3.07B	1.98B	3.22B	3.64B
Operating CF Growth %	0.04%	0.09%	0.02%	0.27%	-0.01%	0.4%	-0.17%	-0.36%	0.63%	0.13%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	720M	834M	1.11B	1.12B	1.17B	1.37B	907M	1.08B	1.4B	1.4B
Depreciation & Amortization	852M	976M	1.03B	1.12B	1.26B	1.44B	1.46B	1.47B	1.25B	1.33B
Deferred Taxes	237M	265M	196M	114M	329M	407M	-32M	44M	181M	194M
Other Non-Cash Items	130M	45M	40M	-57M	99M	-32M	335M	133M	323M	385M
Working Capital Changes	-23M	-36M	-261M	381M	-214M	508M	398M	-751M	65M	328M
Capital Expenditures+	-2.02B	-3.39B	-2.25B	-2.71B	-5.73B	-3.86B	-3.77B	-3.38B	-3.93B	-4.47B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-2.2B	-3.39B	-2.56B	-3.35B	-5.73B	-4.07B	-3.86B	-3.43B	-4.09B	-4.95B
Acquisitions	-202M	-1.39B	-299M	-637M	-2.62B	-163M	-8M	-13M	-27M	-27M
Purchase of Investments	-898M	-1.46B	-1.52B	-1.19B	-794M	-2.35B	-1.05B	-878M	-678M	-1.61B
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	31M	49M	272M	-12M	-110M	-50M	-76M	-41M	-137M	-453M
Cash from Financing+	277M	1.36B	421M	654M	3.1B	796M	315M	1.46B	883M	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%	0.55%
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	1.06B	-33M	-51M	0	0	0	-66M	-55M	0	0
Other Financing	7M	100M	-71M	-41M	-400M	-466M	-483M	1.21B	-37M	-23M
Net Change in Cash+	-11M	76M	-24M	-13M	17M	423M	-481M	8M	8M	37M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	48M	37M	113M	89M	76M	93M	516M	35M	43M	51M
Cash at End	37M	113M	89M	76M	93M	516M	35M	43M	51M	88M
Free Cash Flow+	-104M	-1.3B	-133M	-33M	-3.08B	-160M	-705M	-1.4B	-714M	-824M
FCF Growth %	0.5%	-11.54%	0.9%	0.75%	-92.42%	0.95%	-3.41%	-0.99%	0.49%	-0.15%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.48%	9.49%	11.64%	10.82%	10.37%	11.2%	8.52%	11.33%	13.02%	12.34%
EBITDA Margin	20.23%	23.16%	21.74%	19.12%	22.13%	26.25%	19.74%	16.73%	30.2%	30.69%
Net Debt / EBITDA	4.64x	4.75x	4.69x	5.21x	6.50x	6.38x	6.17x	5.97x	5.44x	6.07x
Interest Coverage	2.75x	3.15x	3.19x	2.85x	2.52x	2.59x	2.37x	2.59x	2.84x	2.20x
CapEx / Revenue	19.54%	31.87%	17.85%	19.09%	47.11%	33.77%	25.21%	17.57%	30.87%	35.86%
Dividend Payout Ratio	68.91%	61.18%	52.2%	55.36%	59.2%	55.56%	87.21%	63.25%	53.83%	55.27%
Debt / Equity	1.11x	1.24x	1.29x	1.33x	1.49x	1.56x	2.09x	1.85x	1.90x	1.99x
EPS Growth	-20.59%	19.26%	30.85%	-2.37%	2.27%	12.2%	-34.04%	18.2%	22.46%	0.15%

Revenue by Segment

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Electric	5.28B	4.9B	5.22B	-	5.3B	5M	5.52B	5.82B	15M	5.82B
Electric Growth	-	-7.23%	6.61%	-	-	-99.91%	110300.00%	5.45%	-99.74%	38686.67%
Energy Trading	3.76B	2.46B	2.58B	4.28B	5.56B	4.61B	3.86B	6.83B	10.31B	4.61B
Energy Trading Growth	-	-34.64%	4.72%	66.10%	29.93%	-17.04%	-16.20%	76.83%	50.90%	-55.26%
Gas	1.64B	1.38B	1.32B	-	1.44B	-	1.41B	1.55B	-	1.75B
Gas Growth	-	-15.89%	-3.78%	-	-	-	-	9.83%	-	-
DTE Vantage	-	-	-	-	-	-	-	1.48B	848M	809M
DTE Vantage Growth	-	-	-	-	-	-	-	-	-42.78%	-4.60%
Corporate and Other	-	-	-	2M	-	2M	-	-	-	-
Corporate and Other Growth	-	-	-	-	-	-	-	-	-	-
Power and Industrial Projects	-	-	-	2.09B	-	1.56B	-	-	-	-
Power and Industrial Projects Growth	-	-	-	-	-	-	-	-	-	-
Gas Storage and Pipelines	-	-	-	453M	-	501M	-	-	-	-
Gas Storage and Pipelines Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

DTE Energy Company (DTE) has a price-to-earnings (P/E) ratio of 19.5x. This is roughly in line with market averages.

Growth & Financials

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

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

Yes, DTE Energy Company (DTE) is profitable, generating $968.0M in net income for fiscal year 2024 (11.3% net margin).

Dividend & Returns

Yes, DTE Energy Company (DTE) pays a dividend with a yield of 2.84%. This makes it attractive for income-focused investors.

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

DTE Energy Company (DTE) had negative free cash flow of $863.0M in fiscal year 2024, likely due to heavy capital investments.

Industry Metrics

DTE Energy Company (DTE) has a dividend payout ratio of 55%. This suggests the dividend is well-covered and sustainable.

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