DTG

MKT CAP:$4B

DTE Energy Company 2021 Series

Market Cap

$4B

Utilities·Regulated Electric·🇺🇸 United States·NYSE

Utilities·Regulated Electric·🇺🇸·NYSE

Stock Price

$17.22-$0.16 (-0.92%)

Apr 24, 2026

Company Details

DTE Energy Co. operates as a diversified energy company, which engages in the development and management of energy-related businesses and services. It operates through the following segments: Electric, Gas, DTE Vantage, Energy Trading, and ...

CEO

Gerardo Norcia

IPO Date

Dec 1, 2021

Website

www.dteenergy.com

Key Metrics TTM

Revenue

$15.3B

+21.9% YoY

Net Income

$1.5B

EPS (Diluted)

$7.06

Free Cash Flow

-$1.0B

Revenue / Share

$73.82

Gross Margin

16.9%

Operating Margin

13.4%

Net Margin

9.6%

FCF Margin

-6.6%

P/S

0.2x

P/E

2.5x

Earnings Reports

FY 2025

Feb 17, 2026

$15.3B+22.7%EPS $7.06

Q4 2025

Feb 17, 2026

$3.9B+13.4%EPS $1.79

Q3 2025

Oct 30, 2025

$3.5B+21.4%EPS $2.02

Q2 2025

Jul 29, 2025

$3.4B+18.9%EPS $1.10

Q1 2025

May 1, 2025

$4.4B+33.8%EPS $2.15

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
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	$3.3B	$658M	$536M
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	$3.9B	$624M
Q2 25	$3.4B	$1.0B	$427M
Q3 25	$3.5B	$2.9B	$619M
Q4 25	$3.9B	-$5.2B	$380M

Valuation

Quarter	P/S	P/E
Q1 22	0.3x	4.8x
Q2 22	0.2x	4.8x
Q3 22	0.2x	3.3x
Q4 22	0.2x	3.7x
Q1 23	0.2x	3.6x
Q2 23	0.3x	3.4x
Q3 23	0.3x	3.0x
Q4 23	0.3x	3.1x
Q1 24	0.3x	3.4x
Q2 24	0.3x	3.0x
Q3 24	0.4x	2.9x
Q4 24	0.3x	2.7x
Q1 25	0.3x	2.4x
Q2 25	0.2x	2.4x
Q3 25	0.3x	2.7x
Q4 25	0.2x	2.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$810M	$46M
Q2 22	$336M	-$431M
Q3 22	$277M	-$589M
Q4 22	$570M	-$411M
Q1 23	$928M	-$9M
Q2 23	$843M	-$96M
Q3 23	$620M	-$317M
Q4 23	$854M	-$267M
Q1 24	$1.0B	-$6M
Q2 24	$775M	-$266M
Q3 24	$739M	$2.8B
Q4 24	$1.1B	-$153M
Q1 25	$1.0B	$147M
Q2 25	$713M	-$258M
Q3 25	$633M	-$589M
Q4 25	$1.1B	-$305M

Capital Expenditures

Quarter	CapEx
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	$2.1B
Q4 24	$1.2B
Q1 25	$873M
Q2 25	$971M
Q3 25	$1.2B
Q4 25	$1.4B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+27.8%	+27.7%
Q2 22	+63.0%	+70.6%
Q3 22	+41.3%	+42.2%
Q4 22	-3.7%	-5.2%
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	-12.2%	-11.0%
Q2 24	+7.1%	+3.8%
Q3 24	+0.6%	+1.7%
Q4 24	+1.2%	+5.2%
Q1 25	+33.8%	+37.1%
Q2 25	+18.9%	+26.1%
Q3 25	+21.4%	+21.7%
Q4 25	+13.4%	+22.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$0	0.0%
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	$21M	0.6%
Q1 24	$8M	0.2%
Q2 24	$9M	0.3%
Q3 24	-$17M	-0.6%
Q4 24	$28M	0.8%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter

Revenue Segments

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

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$156M	$0	$156M
Q2 22	$82M	$0	$82M
Q3 22	$51M	$0	$51M
Q4 22	$43M	$0	$43M
Q1 23	$137M	$0	$137M
Q2 23	$41M	$0	$41M
Q3 23	$66M	$0	$66M
Q4 23	$51M	$0	$51M
Q1 24	$349M	$200M	$549M
Q2 24	$20M	$1.1B	$1.1B
Q3 24	$969M	$1.1B	$2.0B
Q4 24	$88M	$0	$88M
Q1 25	$90M	$0	$90M
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 22	194M	+0.1%	0.0%
Q2 22	194M	0.0%	0.0%
Q3 22	194M	0.0%	0.0%
Q4 22	202M	+4.4%	+4.5%
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%
Q2 25	207M	0.0%	0.0%
Q3 25	207M	0.0%	0.0%
Q4 25	207M	0.0%	-0.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
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	$333.6K	10K
Q2 24	$288.9K	10K
Q3 24	$292.1K	10K
Q4 24	$361.7K	10K
Q1 25	$467.4K	10K
Q2 25	$359.9K	10K
Q3 25	$371.3K	10K
Q4 25	$403.6K	10K

Revenue / Employee