DT Midstream's growth trajectory is underpinned by the successful ramp of its LEAP pipeline system, which drove a 26.7% year-over-year revenue increase in 2025Q2 and a 27.3% jump in 2025Q4. The company's toll-road business model yields robust operating margins...
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue accelerated 26.7% year-over-year in 2025Q2 to $309M, with operating margins consistently above 48% and gross margins averaging 73.5% in 2026Q2, though quarterly gross margin volatility (51.4% to 73.8%) suggests variability.
Healthy cash reserves of 98M provide 5.76x coverage of short-term debt 17M, demonstrating strong liquidity position and minimal refinancing risk.
Operating cash flow of 858M provides strong 34.32x coverage of stock compensation 25M, indicating sustainable incentive practices.
DT Midstream owns and operates natural gas pipelines, storage, and gathering systems, providing essential infrastructure in the energy sector.
Trailing total returns as of 9/10/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Jul 30, 2026 | $1.09-6.8% vs $1.17 | $343M+5.3% vs $326M |
Q2 2026 Apr 30, 2026 | $1.27+14.4% vs $1.11 | $336M+7.1% vs $314M |
Q1 2026 Feb 19, 2026 | $1.08-2.7% vs $1.11 | $317M-0.0% vs $317M |
Q4 2025 Oct 30, 2025 | $1.13+9.7% vs $1.03 | $314M-1.9% vs $320M |
As noted last week, midstream MLPs and corporations broadly raised full-year financial guidance following a strong second quarter. Looking ahead, the sector's growth runway is accelerating.
Wall Street analysts are reshuffling their bets ahead of a critical inflation report and NVIDIA earnings that could jolt markets in either direction. Find out which names got upgraded, cut, or newly covered before the opening bell Wednesday.
Investors need to pay close attention to DTM stock based on the movements in the options market lately.
DT Midstream commands a premium valuation due to its shift from gathering to pipeline-focused natural gas infrastructure with dual demand engines: LNG/industrial and utility/data center end markets. DTM's $3.4 billion brownfield project backlog, with 5x–8x build multiples, underpins visible EBITDA growth and justifies the premium versus sector peers trading at lower multiples. Robust dividend coverage (2.3x–2.5x), investment-grade leverage (2.9x–3.5x), and long-term firm contracts (95% of 2025 revenues) support balance sheet strength and cash flow stability.
Benchmark DTM against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for DT Midstream, Inc. (DTM)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $130.10 | $13.27B | 29.37 | 26.71% | 35.48% | 9.15% | 2.43% | |
| $75.15 | $91.91B | 35.12 | 13.78% | 25.18% | 20.36% | — | |
| $31.41 | $69.94B | 22.93 | 12.45% | 19.31% | 10.67% | — | |
| $63.44 | $66.04B | 26.80 | 10.29% | 22.46% | 9.64% | — | |
| $291.38 | $62.54B | 34.20 | 3.06% | 13.49% | 69.17% | — | |
| $95.82 | $60.37B | 17.68 | 55.42% | 9.29% | 16.21% | — |
DT Midstream, Inc. (DTM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
DT Midstream, Inc. (DTM) SEC filings — annual & quarterly reports (10-K, 10-Q)
Jul 30, 2026·SEC
May 12, 2026·SEC
May 7, 2026·SEC
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DT Midstream, Inc. (DTM) stock FAQ — growth, dividends, profitability & financials explained
DT Midstream, Inc. (DTM) reported $1.31B in revenue for fiscal year 2025. This represents a 170% 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 $468.0M in net income for fiscal year 2025 (35.5% net margin).
Yes, DT Midstream, Inc. (DTM) pays a dividend with a yield of 2.43%. 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 $495.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
