DTE Energy

Utilities Multi-Utilities Detroit, Michigan Last filing Feb 17, 2026 · FY2025

                    Revenue
                    FY2025
                
$15.8B
                    3y CAGR -6.3%
                    
                    P3
                    
                    +26.9%
                    
                    Net income
                    FY2025
                
$1.5B
                    Net margin +9.2%
                    
                    P19
                    
                    +4.1%
                    
                    Total assets
                    FY2025
                
$54.1B
                    ROA +2.7%
                    
                    P58
                    
                    +10.7%
                    
                    Operating cash flow
                    FY2025
                
$3.4B
                    
                    -6.4%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

29 accounts · 5 years

Total assets $54.1B

Total liabilities $5.4B

Shareholders equity $12.3B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	0.4%	0.0%	0.1%	0.1%	0.1%
Accounts Receivable	3.8%	3.5%	3.6%	4.8%	4.3%
Prepaid Expenses	0.5%	0.5%	0.5%	0.6%	0.5%
Other Current Assets	0.5%	0.5%	0.5%	0.6%	0.5%
Total Current Assets	8.0%	7.4%	7.9%	9.8%	8.4%
Property,Plant and Equipment	62.2%	83.6%	62.9%	67.4%	67.8%
Operating Lease Assets	0.5%	0.4%	0.3%	0.2%	0.2%
Goodwill	3.7%	4.1%	4.5%	4.7%	5.0%
Intangible Assets	0.3%	0.3%	0.3%	0.4%	0.4%
Long Term Investments	5.3%	5.2%	5.3%	5.0%	6.2%
Other Noncurrent Assets	24.4%	24.1%	23.8%	17.8%	17.6%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	3.2%	2.8%	3.0%	3.8%	3.6%
Accrued Liabilities	1.3%	1.2%	1.0%	1.3%	1.5%
Current Portion of Long Term Debt	1.6%	2.2%	2.9%	2.7%	1.9%
Operating Lease Liabilities	0.1%	0.0%	0.0%	0.0%	0.0%
Other Current Liabilities	1.3%	1.2%	1.0%	1.3%	1.5%
Total Current Liabilities	10.0%	10.5%	13.1%	12.1%	16.0%
Deferred Revenue Noncurrent	0.3%	0.3%	0.2%	0.2%	0.2%
Operating Lease Liabilities Noncurrent	0.4%	0.3%	0.2%	0.2%	0.2%
Deferred Tax Liabilities	6.3%	6.1%	5.9%	5.6%	5.4%
Other Noncurrent Liabilities	23.2%	23.2%	23.2%	24.0%	25.5%
Total Liabilities	10.0%	10.5%	13.1%	12.1%	16.0%
Equity
Common Stock	12.7%	13.9%	15.0%	15.6%	13.5%
Retained Earnings	10.1%	10.1%	9.8%	8.9%	8.7%
Accumulated Other Comprehensive Income	-0.1%	-0.1%	-0.1%	-0.1%	-0.3%
Noncontrolling Interest	0.0%	0.0%	0.0%	0.0%	—
Total Stockholders Equity	22.8%	24.0%	24.7%	24.4%	21.9%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $15.8B

Operating income $2.4B

Net income $1.5B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	29.2%	25.5%	28.5%	45.0%	37.7%
Expenses Cost of Revenue	24.9%	21.2%	23.5%	41.0%	33.9%
Expenses Depreciation and Amortization	3.4%	3.5%	3.6%	3.4%	3.5%
Expenses Operating Expenses	24.9%	21.2%	23.5%	41.0%	33.9%
Other Income Expense Operating Income	4.4%	4.3%	5.0%	4.1%	3.8%
Other Income Expense Interest Income	0.2%	0.3%	0.1%	0.1%	0.1%
Other Income Expense Interest Expense	2.0%	1.9%	1.8%	1.6%	1.6%
Other Income Expense Other Income/expense	0.2%	0.1%	0.1%	0.2%	0.2%
Other Income Expense Income Before Tax	2.9%	2.8%	3.5%	2.6%	1.7%
Income Tax Income Tax Expense	0.2%	-0.1%	0.4%	0.1%	-0.3%
net Income net Income	2.7%	2.9%	3.1%	2.5%	2.3%
net Income Comprehensive Income	2.7%	3.0%	3.1%	2.7%	2.3%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.4%	0.4%	0.5%	0.5%	0.5%
Earnings Per Share Weighted Average Shares Diluted	0.4%	0.4%	0.5%	0.5%	0.5%

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 5 years

Operating cash flow $3.4B

Investing cash flow $-5.3B

Financing cash flow $2.1B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	2.7%	2.9%	3.1%	2.5%	2.3%
Operating Activities Depreciation and Amortization	3.4%	3.5%	3.6%	3.4%	3.5%
Operating Activities Deferred Income Taxes	0.7%	0.4%	0.4%	0.1%	-0.2%
Operating Activities Changes In Operating Assets and Liabilities	0.7%	0.5%	-0.4%	0.5%	1.2%
Operating Activities net Cash From Operating Activities	6.3%	7.5%	7.2%	4.6%	7.7%
Investing Activities Business Acquisitions	0.4%	0.0%	0.0%	0.0%	0.0%
Investing Activities Other Investing Activities	0.2%	0.2%	0.2%	0.1%	0.1%
Investing Activities net Cash From Investing Activities	-9.8%	-10.1%	-9.1%	-8.0%	-9.7%
Financing Activities Proceeds From Debt	8.2%	9.3%	7.1%	5.1%	11.2%
Financing Activities Repayment of Debt	2.4%	4.4%	3.6%	3.7%	8.9%
Financing Activities Dividends Paid	1.6%	1.7%	1.7%	1.6%	2.0%
Financing Activities Other Financing Activities	-0.0%	-0.0%	-0.1%	-0.2%	-0.2%
Financing Activities net Cash From Financing Activities	3.8%	2.8%	2.0%	3.4%	0.8%
Cash Reconciliation Effect of Exchange Rate On Cash	0.5%	0.2%	0.1%	0.1%	0.1%
Cash Reconciliation net Change In Cash	0.3%	0.1%	0.0%	0.0%	-1.2%
Cash Reconciliation Cash At Beginning of Period	0.5%	0.2%	0.1%	0.1%	0.1%
Cash Reconciliation Cash At End of Period	0.5%	0.2%	0.1%	0.1%	0.1%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+15.0%	+16.8%	+17.6%	+9.1%	+10.0%
Operating margin	+15.0%	+16.8%	+17.6%	+9.1%	+10.0%
Net margin	+9.2%	+11.3%	+11.0%	+5.6%	+6.1%
FCF margin	—	—	—	—	—
Growth
Revenue CAGR (3y)	-6.3%	-5.9%	+3.7%	+16.5%	+1.7%
Returns
ROE	+11.9%	+12.0%	+12.6%	+10.4%	+10.4%
ROA	+2.7%	+2.9%	+3.1%	+2.5%	+2.3%
ROIC	+17.3%	+16.4%	+16.3%	+14.8%	+15.8%
Liquidity
Current ratio	0.80x	0.71x	0.60x	0.81x	0.52x
Quick ratio	0.41x	0.34x	0.28x	0.40x	0.27x
Leverage
D/E	0.44x	0.44x	0.53x	0.50x	0.73x
Interest coverage	2.25x	2.20x	2.84x	2.59x	2.37x
Efficiency
Asset turnover	0.29x	0.26x	0.28x	0.45x	0.38x
Cash conversion cycle	—	—	—	—	—

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DTE Energy

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