DTE

MKT CAP:$31B

DTE Energy Company

Market Cap

$31B

Utilities·Regulated Electric·🇺🇸 United States·NYSE

Utilities·Regulated Electric·🇺🇸·NYSE

Stock Price

$147.38+$17.02 (+13.06%)

Apr 24, 2026

Company Details

DTE 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 Mic...

CEO

Joi Harris

IPO Date

Jan 2, 1970

Website

www.dteenergy.com

Key Metrics TTM

Revenue

$13.7B

+11.9% YoY

Net Income

$1.5B

EPS (Diluted)

$7.40

Free Cash Flow

-$668M

Revenue / Share

$65.98

Gross Margin

32.9%

Operating Margin

16.1%

Net Margin

11.2%

FCF Margin

-4.9%

P/S

2.2x

P/E

20.0x

Earnings Reports

Q2 2025

May 7, 2026

PENDING

FY 2025

Feb 17, 2026

$15.8B+26.9%EPS $7.06

Q1 2025

May 1, 2025

$4.4B+37.0%EPS $2.14

FY 2024

Feb 13, 2025

$12.5B-2.3%EPS $6.77

Q4 2024

Feb 13, 2025

$3.4B+1.2%EPS $1.41

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$3.6B	$875M	$433M
Q2 21	$3.0B	$716M	$242M
Q3 21	$3.7B	$857M	$405M
Q1 22	$4.6B	$1.0B	$558M
Q2 22	$4.9B	$659M	$183M
Q3 22	$5.3B	$1.0B	$545M
Q4 22	$4.5B	$944M	$462M
Q1 23	$3.8B	$1.2B	$652M
Q2 23	$2.7B	$909M	$397M
Q3 23	$2.9B	$1.0B	$538M
Q4 23	$3.4B	$1.2B	$656M
Q1 24	$3.2B	$1.1B	$517M
Q2 24	$2.9B	$1.1B	$502M
Q3 24	$2.9B	$1.1B	$517M
Q4 24	$3.4B	$1.2B	$555M
Q1 25	$4.4B	$1.2B	$624M

Valuation

Quarter	P/S	P/E
Q1 21	1.8x	15.5x
Q2 21	1.7x	16.2x
Q3 21	1.6x	24.8x
Q1 22	1.7x	25.2x
Q2 22	1.5x	37.8x
Q3 22	1.3x	28.0x
Q4 22	1.3x	22.9x
Q1 23	1.2x	19.8x
Q2 23	1.4x	17.7x
Q3 23	1.4x	15.9x
Q4 23	1.8x	16.4x
Q1 24	1.9x	18.1x
Q2 24	1.8x	16.3x
Q3 24	2.1x	17.4x
Q4 24	2.0x	17.8x
Q1 25	2.1x	18.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	$1.1B	$388M
Q2 21	$859M	-$346M
Q3 21	$456M	-$370M
Q1 22	$808M	$44M
Q2 22	$328M	-$439M
Q3 22	$276M	-$590M
Q4 22	$565M	-$416M
Q1 23	$924M	-$13M
Q2 23	$835M	-$104M
Q3 23	$616M	-$321M
Q4 23	$845M	-$276M
Q1 24	$1.0B	-$9M
Q2 24	$759M	-$282M
Q3 24	$759M	-$370M
Q4 24	$1.1B	-$163M
Q1 25	$1.0B	$147M

Capital Expenditures

Quarter	CapEx
Q1 21	$669M
Q2 21	$1.2B
Q3 21	$826M
Q1 22	$764M
Q2 22	$767M
Q3 22	$866M
Q4 22	$981M
Q1 23	$937M
Q2 23	$939M
Q3 23	$937M
Q4 23	$1.1B
Q1 24	$1.1B
Q2 24	$1.0B
Q3 24	$1.1B
Q4 24	$1.2B
Q1 25	$873M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+13.8%	+15.2%
Q2 21	+17.0%	+25.4%
Q3 21	+20.6%	+27.3%
Q1 22	+39.2%	+42.4%
Q2 22	+37.5%	+50.6%
Q3 22	+73.8%	+69.3%
Q4 22	+20.5%	+21.3%
Q1 23	-17.4%	-22.2%
Q2 23	-45.5%	-51.8%
Q3 23	-45.0%	-50.1%
Q4 23	-24.2%	-31.8%
Q1 24	-14.3%	-12.9%
Q2 24	+7.1%	+3.8%
Q3 24	+0.6%	+1.7%
Q4 24	+1.2%	+5.2%
Q1 25	+37.0%	+40.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$0	0.0%
Q2 21	$11M	0.4%
Q3 21	$10M	0.3%
Q1 22	$0	0.0%
Q2 22	$9M	0.2%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	SG&A
Q1 21	—	$4M
Q2 21	—	$3M
Q3 21	—	$3M
Q4 22	$12M	—
Q1 23	$3M	—
Q2 23	$5M	—
Q3 23	$1M	—

Revenue Segments

Quarter	Electric	Energy Trading	Gas	DTE Vantage
Q1 21	$1.4B	$1.4B	$612M	—
Q1 23	$1.4B	$1.6B	$707M	$184M
Q3 23	$1.6B	$893M	$227M	$199M
Q1 24	$1.5B	$933M	$711M	$184M
Q2 24	$1.6B	$837M	$289M	$181M
Q3 24	$1.7B	$840M	$230M	$190M
Q1 25	$1.5B	$2.0B	$692M	$188M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$150M	$0	$150M
Q2 22	$67M	$0	$67M
Q3 22	$26M	$0	$26M
Q4 22	$33M	$0	$33M
Q1 23	$115M	$0	$115M
Q2 23	$30M	$0	$30M
Q3 23	$36M	$0	$36M
Q4 23	$26M	$0	$26M
Q1 24	$292M	$200M	$492M
Q2 24	$20M	$1.1B	$1.1B
Q3 24	$969M	$1.1B	$2.0B
Q4 24	$24M	$0	$24M
Q1 25	$33M	$0	$33M
Q2 25	$84M	$0	$84M
Q3 25	$79M	$0	$79M
Q4 25	$250M	$0	$250M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	194M	-23.8%	+4.9%
Q2 21	194M	0.0%	+0.5%
Q3 21	194M	0.0%	+0.5%
Q1 22	194M	0.0%	-23.8%
Q2 22	194M	0.0%	0.0%
Q3 22	194M	0.0%	0.0%
Q4 22	202M	+4.4%	+4.4%
Q1 23	206M	+1.8%	+6.2%
Q2 23	206M	0.0%	+6.2%
Q3 23	206M	0.0%	+6.2%
Q4 23	206M	+0.2%	+1.9%
Q1 24	207M	+0.3%	+0.5%
Q2 24	207M	0.0%	+0.5%
Q3 24	207M	0.0%	+0.5%
Q4 24	207M	+0.1%	+0.4%
Q1 25	207M	-0.1%	0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	$337.8K	11K
Q2 21	$285.0K	11K
Q3 21	$350.5K	11K
Q1 22	$444.4K	10K
Q2 22	$478.1K	10K
Q3 22	$509.8K	10K
Q4 22	$436.7K	10K
Q1 23	$368.7K	10K
Q2 23	$261.9K	10K
Q3 23	$281.8K	10K
Q4 23	$341.1K	10K
Q1 24	$325.6K	10K
Q2 24	$288.9K	10K
Q3 24	$292.1K	10K
Q4 24	$361.7K	10K
Q1 25	$467.4K	10K

Revenue / Employee