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DTG

DTE Energy Company 2021 Series

DTG

DTE Energy Company 2021 Series • NYSE
$17.39 ▼ -0.29% (-0.05)
Market Cap $3.61 B
52w High $19.78
52w Low $16.71
Dividend Yield 1.09%
P/E 0
Volume 78.78K
Outstanding Shares 207.68M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.527B ▲ $2.325B ▲ $418M ▲ 11.851% ▲ $2.02 ▲ $1.148B ▲
Q2-2025 $3.419B ▼ $577M ▼ $229M ▼ 6.698% ▼ $1.1 ▼ $893M ▼
Q1-2025 $4.44B ▲ $3.241B ▲ $445M ▲ 10.023% ▲ $2.15 ▲ $1.129B ▲
Q4-2024 $3.436B ▲ $596M ▲ $292M ▼ 8.498% ▼ $1.41 ▼ $884.25M ▼
Q3-2024 $2.906B $557M $477M 16.414% $2.29 $972M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $79M ▼ $52.028B ▲ $39.865B ▲ $12.158B ▲
Q2-2025 $84M ▼ $50.248B ▲ $38.521B ▲ $11.722B ▼
Q1-2025 $90M ▲ $49.555B ▲ $37.628B ▲ $11.921B ▲
Q4-2024 $88M ▼ $48.841B ▼ $37.142B ▼ $11.699B ▲
Q3-2024 $2.04B $49.806B $38.208B $11.592B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $418M ▲ $633M ▼ $-1.662B ▼ $1.024B ▲ $-5M ▲ $-589M ▼
Q2-2025 $228M ▼ $713M ▼ $-1.058B ▼ $339M ▲ $-6M ▼ $-258M ▼
Q1-2025 $445M ▲ $1.02B ▼ $-968M ▼ $-50M ▲ $2M ▲ $147M ▲
Q4-2024 $292M ▼ $1.094B ▲ $-248M ▲ $-1.781B ▼ $-935M ▼ $-153M ▼
Q3-2024 $478M $739M $-1.17B $1.367B $936M $2.831B

Revenue by Products

Product Q1-2024Q2-2024Q3-2024Q2-2025
DTE Vantage
DTE Vantage
 $180.00M ▲$180.00M ▲$190.00M ▲$-10.00M ▼
Electric
Electric
 $1.47Bn ▲$1.62Bn ▲$1.70Bn ▲$-20.00M ▼
Energy Trading
Energy Trading
 $930.00M ▲$840.00M ▼$840.00M ▲$-40.00M ▼
Gas
Gas
 $710.00M ▲$290.00M ▼$230.00M ▼$0 ▼

Five-Year Company Overview

Income Statement

Income Statement The company’s revenue has moved around over the last few years, with a temporary spike and then a return to a more normal level for a large regulated utility. Despite that bumpiness in sales, operating profit and earnings have been relatively steady and have inched upward over time. Profitability looks solid for a utility, with earnings holding up even as the company invests heavily in its system and clean energy plans. Overall, this is the picture of a mature, regulated business that delivers consistent earnings rather than rapid growth, with only modest swings from year to year.

Balance Sheet

Balance Sheet The balance sheet shows a large and growing asset base, which fits with a utility that is constantly building and upgrading power plants, lines, and grid technology. Debt levels have been rising over time and now sit meaningfully above equity, which is also typical for this sector but does increase sensitivity to interest costs and credit conditions. Cash on hand is quite low, suggesting reliance on ongoing cash generation and capital markets rather than large cash reserves. Equity has been trending upward again after a dip, signaling that retained earnings and possibly equity financing have helped support the expansion. Overall, it is a capital‑intensive, fairly leveraged balance sheet, in line with many regulated electric peers.

Cash Flow

Cash Flow Operating cash flow is healthy and generally covers everyday running costs and interest. However, free cash flow is consistently negative because the company is spending heavily on capital projects such as grid upgrades, renewables, and other long‑life assets. This means the business regularly needs to tap debt or equity markets to fund its investment program. The pattern points to a company in an ongoing build‑out phase: strong cash generation from operations, but even larger outflows into infrastructure that is expected to pay off over many years. The main risk is if investment stays high while cash from operations weakens or financing becomes more expensive.

Competitive Edge

Competitive Edge DTE operates in a regulated market, which provides a built‑in customer base and relatively predictable revenue, subject to regulatory approval of rates. That regulatory framework, combined with the huge cost and long time required to build competing infrastructure, forms a meaningful barrier to entry. The company also benefits from a strong position in Michigan, where it serves a large portion of the state’s homes and businesses, tying its fortunes to the regional economy. Beyond the core utility, DTE’s diversified energy ventures, including renewable natural gas and custom solutions for industrial clients, provide extra sources of earnings and help reduce reliance on one single line of business. Key competitive risks include regulatory changes, political pressure on rates, and the need to manage customer expectations around reliability and decarbonization.

Innovation and R&D

Innovation and R&D DTE is in the middle of a major modernization and clean‑energy push. It is investing heavily in a smarter, more automated grid that should improve reliability and reduce outage times, with a goal of substantial automation over the next several years. On the customer side, the company is rolling out digital tools and programs to help households and businesses track and manage their energy use, which can deepen relationships and support efficiency goals. Strategically, DTE’s long‑term “CleanVision” plan calls for a large shift toward solar, wind, storage, and the retirement of coal, backed by favorable federal and state policies. The company is also exploring emerging technologies such as advanced storage, modular nuclear, and carbon capture. The opportunity is to strengthen its long‑term position in a low‑carbon energy system; the risk is the scale, complexity, and regulatory scrutiny of these investments, along with technology and execution challenges.

Summary

Overall, DTE looks like a typical large regulated utility that is reshaping itself for a cleaner and more digital energy future. Its earnings profile is steady rather than flashy, supported by regulation and a strong regional franchise. The balance sheet is asset‑heavy and fairly leveraged, reflecting the constant need to invest in infrastructure. Cash flows show the strain of a big capital program: solid operating cash but persistently negative free cash flow, funded by borrowing and external capital. Competitively, its regulated status, entrenched infrastructure, and diversified energy ventures offer resilience, while the ongoing clean‑energy and grid‑modernization initiatives could strengthen its position over time. The main things to watch are regulatory outcomes, project execution, and how comfortably the company can finance its large investment plans in different interest‑rate and economic environments.