DTE
DTE Energy Company
DTE's fundamentals are mixed: it turned 21% of its revenue into free cash flow, but its operating margin fell 2 points to 13%. At 21x earnings, it's trading above its usual 19x. Analysts expect earnings growth, though they disagree widely on how much.
DTE Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Weak |
DTE's profitability and cash flow are currently healthy, and its revenue is stable, but its balance sheet is weak.
DTE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 17x | $111 | -20% |
| Forward | 17x | $139 | — |
| Fair | 19x | $126 | -9.3% |
| Current | 21x | $139 | — |
| Expensive | 24x | $155 | +11% |
Historical ranges are pointers, not guarantees.
DTE's PE is in its expensive range at 21x. If earnings grow as analysts expect, today's price would be 17x next year's earnings, in its cheap range.
DTE Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for DTE, but weaker profitability. However, they disagree widely on these estimates.
DTE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.14 | +24% |
| Q3 2026 | $6.57 | -1.4% |
| Q2 2026 | $6.33 | -8.9% |
| Q1 2026 | $6.08 | -18% |
| Q4 2025 | $7.03 | +3.8% |
| Q3 2025 | $6.66 | -9.8% |
| Q2 2025 | $6.95 | +3.9% |
| Q1 2025 | $7.40 | +21% |
| Q4 2024 | $6.77 | +0.1% |
DTE earned $6.57 per share over the past year, down 1.4% from the year before.
DTE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.7B | +5.7% |
| Q2 2026 | $3.4B | -1.5% |
| Q1 2026 | $5.1B | +16% |
| Q4 2025 | $4.4B | +29% |
| Q3 2025 | $3.5B | +21% |
| Q2 2025 | $3.4B | +19% |
| Q1 2025 | $4.4B | +37% |
| Q4 2024 | $3.4B | +1.2% |
DTE's revenue is recovering but still below its 2022 peak: $3.7B last quarter, up 5.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | -1.4 points |
| Q2 2026 | 14% | +1.1 points |
| Q1 2026 | 8% | -6 points |
| Q4 2025 | 16% | -0.2 points |
| Q3 2025 | 18% | -0.2 points |
| Q2 2025 | 12% | -5 points |
| Q1 2025 | 14% | -1.9 points |
| Q4 2024 | 16% | -3.2 points |
DTE's operating margin was 16% last quarter, down 1.4 points from the same quarter a year ago.
DTE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $768M | +22% |
| Q2 2026 | $773M | +9% |
| Q1 2026 | $906M | -11% |
| Q4 2025 | $1B | -3.3% |
| Q3 2025 | $632M | -17% |
| Q2 2025 | $709M | -6.6% |
| Q1 2025 | $1B | -2.1% |
| Q4 2024 | $1.1B | +28% |
DTE's free cash flow has been positive every quarter for seven years: $3.5B over the past year, up 1.5% from the year before.
DTE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +0.5% | +1M shares |
| 3 years | +1% | +2M shares |
| 5 years | +7.2% | +14M shares |
| Available history | +12% | +23M shares |
DTE has 208M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | $55M |
DTE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 6.9x | High |
| Q2 2026 | 6.7x | High |
| Q1 2026 | 6.6x | High |
| Q4 2025 | 6.1x | High |
| Q3 2025 | 6.2x | High |
| Q2 2025 | 6.1x | High |
| Q1 2025 | 5.9x | High |
| Q4 2024 | 6.0x | High |
DTE's net debt is about 6.9 years of its operating earnings (EBITDA), up from 6.2 years a year ago.
DTE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.2 | Neutral |
| Stochastic | 66.4 | Neutral |
DTE's weekly RSI is 53 (neutral) and its Stochastic is 66 (neutral).
DTE PE vs Utilities Sector
| Metric | DTE | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 20x | 3.8% above |
| PE % | 77 | 44 | 33 pts above |
DTE is trading at 21x earnings, in line with the Utilities sector's median of 20x.
DTE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $130.5 | 6.7% above |
| 20 week MA | $136.9 | 1.7% above |
| 50 week MA | $139.6 | 0.3% below |
| 100 week MA | $136.6 | 1.9% above |
| 200 week MA | $124.3 | 12% above |
DTE's trend is mixed: it's above four of its five weekly moving averages, and 12% above its 200-week average.
DTE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $109.7 | $101.9 | -7.1% |
| 2021 | $101.9 | $116.8 | +15% |
| 2022 | $116.8 | $118.5 | +1.5% |
| 2023 | $118.5 | $110.3 | -7% |
| 2024 | $110.3 | $121.4 | +10% |
| 2025 | $121.4 | $129.1 | +6.3% |
| 2026 YTD | $129.1 | $139.2 | +7.9% |
DTE has finished higher in four of the last six years. It's up 7.9% so far in 2026.