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%
                    
                    P20
                    
                    +4.1%
                    
                    Total assets
                    FY2025
                
$54.1B
                    ROA +2.7%
                    
                    P58
                    
                    +10.7%
                    
                    Operating cash flow
                    FY2025
                
$3.4B
                    FCF margin -7.8%
                    
                    P66
                    
                    -6.4%

19 yrs · FY2007–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

20 accounts · 10 years

Total assets $54.1B

Total liabilities ~$41.8B

Shareholders equity $12.3B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	+11.7%	-0.6%	-8.1%	-11.9%	-17.6%	+50.7%	+0.4%	-9.1%	-28.3%	—
Accounts Receivable	+3.4%	+1.7%	+1.7%	+5.4%	+2.8%	+1.2%	+5.8%	+9.1%	+16.5%	—
Other Current Assets	+7.0%	+6.1%	+7.0%	+10.8%	+6.6%	+6.4%	+1.6%	+10.4%	+7.6%	—
Total Current Assets	+5.2%	+3.4%	+3.6%	+7.1%	+3.7%	+6.1%	+3.8%	+8.6%	+11.5%	—
Property,Plant and Equipment	+6.1%	+5.8%	+5.2%	+6.5%	+6.4%	+5.6%	+8.7%	+4.8%	+5.0%	—
Regulatory Assets	+7.4%	+7.2%	+7.0%	+0.1%	-2.1%	+1.6%	+2.5%	+8.6%	-3.8%	—
Other Noncurrent Assets	+4.8%	+3.6%	+2.6%	+0.4%	+1.0%	+23.8%	+17.8%	+9.3%	+9.9%	—
Total Assets	+6.0%	+5.4%	+4.9%	+4.9%	+4.4%	+9.2%	+9.3%	+6.4%	+5.4%	—
Liabilities
Current Portion of Long Term Debt	+17.8%	+21.0%	+31.2%	+28.3%	+47.9%	-0.3%	+43.5%	+102.7%	+42.3%	—
Other Current Liabilities	+5.7%	+4.5%	+3.6%	+7.0%	+7.1%	+3.2%	+8.9%	+10.0%	+8.2%	—
Total Current Liabilities	+9.3%	+9.7%	+13.4%	+13.4%	+21.1%	+2.5%	+17.9%	+34.9%	+15.4%	—
Long Term Debt	+8.7%	+7.9%	+6.4%	+7.0%	+5.2%	+14.0%	+12.2%	+3.8%	+8.1%	—
Regulatory Liabilities	+20.1%	+22.7%	+24.7%	+30.0%	+41.1%	+56.9%	+80.5%	+129.5%	+418.0%	—
Other Noncurrent Liabilities	+1.8%	+0.3%	-0.9%	-1.5%	-3.2%	-1.3%	-6.1%	-14.3%	-32.6%	—
Equity
Total Stockholders Equity	+3.5%	+3.3%	+3.0%	+2.4%	-0.7%	+8.4%	+9.0%	+6.6%	+5.6%	—
Common Stock	+6.1%	+6.7%	+7.6%	+8.7%	+5.9%	+7.6%	+9.1%	+2.6%	-1.0%	—
Retained Earnings	+0.8%	-0.4%	-2.1%	-4.8%	-7.6%	+8.8%	+8.9%	+9.3%	+10.3%	—
Accumulated Other Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Noncontrolling Interest	-39.9%	-43.6%	-48.0%	-55.1%	-56.1%	—	-30.5%	-0.8%	-2.0%	—
Total Liabilitiesand Equity	+6.0%	+5.4%	+4.9%	+4.9%	+4.4%	+9.2%	+9.3%	+6.4%	+5.4%	—

Income Statement

Revenue, expense, and profitability

14 accounts · 10 years

Revenue $15.8B

Operating income $2.4B

Net income $1.5B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+4.5%	+2.0%	+2.6%	+10.4%	+7.1%	+1.8%	+4.6%	+15.6%	+18.6%	—
Expenses Cost of Revenue	+5.1%	+0.7%	+1.8%	+15.5%	+10.7%	+1.4%	+7.3%	+24.8%	+29.5%	—
Expenses Selling,General and Administrative	+0.6%	+0.0%	-0.7%	+1.0%	+1.4%	+0.5%	+0.8%	+4.1%	+0.4%	—
Expenses Depreciation and Amortization	+7.3%	+7.4%	+7.4%	+7.0%	+7.1%	+7.3%	+6.2%	+7.3%	+5.5%	—
Expenses Other Operating Expenses	—	—	—	—	—	—	—	—	—	—
Other Income Expense Operating Income	+5.3%	+4.4%	+6.1%	+2.7%	+0.1%	+1.1%	-1.3%	+3.6%	+15.1%	—
Other Income Expense Interest Expense	+9.4%	+9.2%	+7.7%	+6.1%	+5.9%	+6.2%	+6.4%	+8.8%	+13.6%	—
Other Income Expense Other Income/expense	+11.0%	+12.3%	+3.3%	-13.2%	—	+8.9%	+18.4%	+41.0%	+23.1%	—
Other Income Expense Income Before Tax	+3.8%	+2.7%	+5.1%	+0.1%	-9.9%	-0.5%	-2.9%	+4.9%	+16.5%	—
Income Tax Income Tax Expense	-11.7%	—	-6.5%	-31.1%	—	-39.2%	-36.0%	-39.9%	-35.4%	—
net Income net Income	+6.0%	+6.2%	+7.0%	+3.8%	+0.9%	+12.0%	+10.4%	+13.6%	+30.6%	—
Earnings Per Share Basic Eps	+4.3%	+4.3%	+4.9%	+2.2%	-0.7%	+10.0%	+9.3%	+13.0%	+30.6%	—
Earnings Per Share Diluted Eps	+4.3%	+4.3%	+4.9%	+2.3%	-0.7%	+10.0%	+9.3%	+13.0%	+30.8%	—
Earnings Per Share Weighted Average Shares Diluted	+1.6%	+1.8%	+2.0%	+1.5%	+1.6%	+1.9%	+1.1%	+0.6%	+0.0%	—

Cash Flow Statement

Operating, investing, and financing flows

13 accounts · 10 years

Operating cash flow $3.4B

Investing cash flow $-5.3B

Financing cash flow $2.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Cash From Operating Activities	+5.6%	+7.2%	+6.4%	-0.9%	+8.0%	+15.4%	+8.3%	+13.4%	+1.6%	—
Operating Activities net Income	+6.4%	+6.7%	+7.6%	+4.5%	+1.6%	+13.2%	+12.0%	+15.8%	+33.3%	—
Operating Activities Depreciation and Amortization	+7.3%	+7.4%	+7.4%	+7.0%	+8.4%	+10.3%	+9.0%	+7.3%	+5.5%	—
Operating Activities Other Non Cash Items	-10.0%	+8.0%	-3.3%	—	+20.8%	+34.0%	-7.9%	+26.4%	—	—
Investing Activities Capital Expenditures	—	—	—	—	—	—	—	—	—	—
Investing Activities Other Investing Activities	—	—	—	—	—	—	—	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities Proceeds From Debt	+9.0%	+10.5%	+6.5%	+1.1%	+17.0%	+16.1%	+10.2%	-16.1%	-25.3%	—
Financing Activities Repayment of Debt	—	—	—	—	—	—	—	—	—	—
Financing Activities Dividends Paid	—	—	—	—	—	—	—	—	—	—
Financing Activities Other Financing Activities	—	—	—	+8.1%	—	—	+36.9%	-90.4%	—	—
Financing Activities net Cash From Financing Activities	+4.7%	-0.1%	-6.0%	+1.2%	-25.4%	-12.5%	+31.6%	-30.6%	-69.0%	—
Cash Reconciliation net Change In Cash	+13.2%	-4.4%	-23.7%	-27.0%	—	+68.1%	-31.5%	—	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+45.4%	+53.0%	+50.9%	+31.6%	+38.5%	+48.9%	+43.8%	+39.4%	+43.2%	+48.0%
Operating margin	+15.0%	+16.8%	+17.6%	+9.1%	+10.0%	+13.6%	+11.8%	+11.2%	+13.6%	+14.0%
Net margin	+9.2%	+11.3%	+11.0%	+5.6%	+6.1%	+12.0%	+9.6%	+7.9%	+9.0%	+8.2%
FCF margin	-7.8%	-6.6%	-5.6%	-7.3%	-4.7%	-2.5%	-23.2%	-0.2%	-1.1%	-10.4%
Growth
Revenue CAGR (3y)	-6.3%	-5.9%	+3.7%	+16.5%	+1.7%	-3.2%	+4.6%	+11.2%	+0.8%	+3.2%
Returns
ROE	+11.9%	+12.0%	+12.6%	+10.4%	+10.4%	+11.0%	+10.0%	+10.9%	+11.9%	+9.6%
ROA	+2.7%	+2.9%	+3.1%	+2.5%	+2.3%	+3.0%	+2.8%	+3.1%	+3.4%	+2.7%
ROIC	+5.9%	+6.0%	+6.3%	+5.8%	+5.6%	+4.8%	+4.6%	+6.0%	+6.6%	+5.4%
Liquidity
Current ratio	0.80x	0.71x	0.60x	0.81x	0.52x	1.30x	0.77x	0.73x	1.10x	1.13x
Quick ratio	0.44x	0.38x	0.31x	0.43x	0.29x	0.80x	0.50x	0.44x	0.68x	0.69x
Leverage
D/E	3.39x	3.18x	3.05x	3.11x	3.56x	2.66x	2.59x	2.54x	2.55x	2.56x
Interest coverage	2.25x	2.20x	2.84x	2.59x	2.37x	2.59x	2.52x	2.85x	3.19x	3.15x
Efficiency
Asset turnover	0.29x	0.26x	0.28x	0.45x	0.38x	0.25x	0.29x	0.39x	0.37x	0.33x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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DTE Energy

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