DTE ENERGY CO DTE
In 1995, DTE Energy incorporated in the State of Michigan. DTE Energy's utility operations consist primarily of DTE Electric and DTE Gas. DTE Energy also has two other segments that are engaged in a variety of energy-related businesses.
DTE Electric is a Michigan corporation organized in 1903 and is an indirect wholly-owned subsidiary of DTE Energy. DTE Electric is a public utility engaged in the generation, purchase, distribution, and sale of electricity to approximately 2.3 million customers in southeastern Michigan.
DTE Gas is a Michigan corporation organized in 1898 and is an indirect wholly-owned subsidiary of DTE Energy. DTE Gas is a public utility engaged in the purchase, storage, transportation, distribution, and sale of natural gas to approximately 1.4 million customers throughout Michigan and the sale of storage and transportation capacity.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — | $12.61B | $10.63B |
| Total operating expenses | $13.44B | $10.37B | $10.50B | $17.48B | $13.47B | $9.87B | $10.74B | $12.62B | $10.90B | $9.14B |
| Operating income | $2.37B | $2.09B | $2.24B | $1.75B | $1.50B | $1.55B | $1.43B | $1.59B | $1.71B | $1.49B |
| Interest expense | $1.06B | $951.0M | $791.0M | $675.0M | $630.0M | $601.0M | $568.0M | $559.0M | $536.0M | $472.0M |
| Pre-tax income | $1.55B | $1.37B | $1.57B | $1.11B | $656.0M | $1.08B | $1.01B | $1.22B | $1.29B | $1.10B |
| Income tax | $88.0M | $34.0M | $169.0M | $29.0M | $130.0M | $37.0M | $71.0M | $98.0M | $175.0M | $271.0M |
| Net income | $1.46B | $1.40B | $1.40B | $1.08B | $907.0M | $1.37B | $1.17B | $1.12B | $1.13B | $868.0M |
| EPS, basic | 7.04 | 6.78 | 6.77 | 5.53 | 4.68 | 7.09 | 6.32 | 6.18 | 6.32 | 4.84 |
| EPS, diluted | 7.03 | 6.77 | 6.76 | 5.52 | 4.67 | 7.08 | 6.31 | 6.17 | 6.32 | 4.83 |
| Shares, diluted (wtd. avg.) | $207.0M | $207.0M | $206.0M | $196.0M | $194.0M | $193.0M | $185.0M | $181.0M | $179.0M | $179.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $208.0M | $24.0M | $51.0M | $43.0M | $35.0M | $516.0M | $93.0M | $76.0M | $89.0M | $113.0M |
| Receivables | $2.03B | $1.69B | $1.63B | $2.04B | $1.70B | $1.54B | $1.64B | $1.79B | $1.76B | $1.52B |
| Total current assets | $4.35B | $3.61B | $3.54B | $4.18B | $3.32B | $3.50B | $3.09B | $3.26B | $3.08B | $2.76B |
| Property, plant and equipment | $33.65B | $30.89B | $28.17B | $28.77B | $26.94B | $24.50B | $25.32B | $21.65B | $20.72B | $19.73B |
| Goodwill | $1.99B | $1.99B | $1.99B | $1.99B | $1.99B | $1.99B | $2.46B | $2.29B | $2.29B | $2.29B |
| Other intangibles | $188.0M | $144.0M | $156.0M | $166.0M | $177.0M | $199.0M | $2.39B | $849.0M | $867.0M | $842.0M |
| Total assets | $54.07B | $48.85B | $44.76B | $42.68B | $39.72B | $45.50B | $42.27B | $36.29B | $33.77B | $32.04B |
| Accounts payable | $1.75B | $1.39B | $1.36B | $1.60B | $1.41B | $1.00B | $1.08B | $1.33B | $1.17B | $1.08B |
| Short-term debt | $882.0M | $1.07B | $1.28B | $1.16B | $758.0M | $38.0M | $828.0M | $609.0M | $621.0M | $499.0M |
| Total current liabilities | $5.41B | $5.11B | $5.88B | $5.17B | $6.35B | $2.69B | $4.00B | $4.44B | $2.81B | $2.44B |
| Long-term debt | $25.31B | $22.14B | $19.71B | $18.13B | $17.52B | $19.60B | $16.75B | $10.98B | $11.04B | $10.51B |
| Retained earnings | $5.48B | $4.95B | $4.40B | $3.81B | $3.44B | $7.16B | $6.59B | $6.11B | $5.64B | $5.11B |
| Total equity | $12.30B | $11.70B | $11.05B | $10.40B | $8.71B | $12.59B | $11.84B | $10.72B | $9.99B | $9.50B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.41B | $3.64B | $3.22B | $1.98B | $3.07B | $3.70B | $2.65B | $2.68B | $2.12B | $2.08B |
| Depreciation and amortisation | $1.84B | $1.73B | $1.61B | $1.47B | $1.38B | $1.29B | $1.17B | $1.12B | $1.03B | $976.0M |
| Investing cash flow | -$5.30B | -$4.95B | -$4.09B | -$3.43B | -$3.86B | -$4.07B | -$5.73B | -$3.35B | -$2.56B | -$3.39B |
| Financing cash flow | $2.06B | $1.34B | $883.0M | $1.46B | $315.0M | $796.0M | $3.10B | $654.0M | $421.0M | $1.36B |
| Dividends paid | $871.0M | $810.0M | $752.0M | $685.0M | $791.0M | $760.0M | $692.0M | $620.0M | $592.0M | $531.0M |
| Buybacks | — | $0 | $0 | $55.0M | $66.0M | $0 | $0 | $0 | $51.0M | $33.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000936340-26-000054.
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