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DTE Energy Company (DTE)

NYSE / Utilities / Regulated Electric

Share price

128.33 USD Market dataClose of Oct 15, 2026

Market capitalisation

26.70B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Feb 17, 2026
Ratios computed
Oct 15, 2026
Filed years
10, FY2016 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

5.8% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

18.23x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Dividend yield

3.6% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2016 Revenue: 10.63B USDFY2016 Net income: 868.0M USDFY2017 Revenue: 12.61B USDFY2017 Net income: 1.13B USDFY2018 Net income: 1.12B USDFY2019 Net income: 1.17B USDFY2020 Net income: 1.37B USDFY2021 Net income: 907.0M USDFY2022 Net income: 1.08B USDFY2023 Net income: 1.40B USDFY2024 Net income: 1.40B USDFY2025 Net income: 1.46B USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
2 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 18.23x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 15.00x and 25.00x.

Today, against the Regulated Electric industry (35 companies), 18.23x sits at the 26th percentile; the middle half of that group runs from 18.20x to 22.31x.

Is it good

Return on invested capital was 5.8% in FY2025, in the band labelled "Likely below the cost of capital" (below 8.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting returns below the usual cost of the capital employed.

Today, against the Utilities sector (52 companies), 5.8% sits at the 71st percentile; the middle half of that group runs from 4.5% to 6.2%.

Is it safe

Interest coverage was 2.25x in FY2025, in the band labelled "Speculative grade" (1.50x to 3.00x), on lines anchored on Damodaran's interest-coverage table.

Year by year against peers
Whether DTE Energy Company's return on equity stayed above the median of the Regulated Electric industry, year by year. (FY2016 to FY2025, 10 fiscal years of DTE Energy Company with a comparable figure)
The direction
Which way DTE Energy Company's return on equity has moved, and how steadily. (FY2016 to FY2025, 10 filed years of DTE Energy Company)
What could explain it
What in DTE Energy Company's filed statements could explain the movements. (5 readings drawn from the statement lines DTE Energy Company filed)
What to check next
What to check next on DTE Energy Company, and where in its filings. (5 questions for DTE Energy Company)
In one paragraph
One paragraph on DTE Energy Company's returns, cash, balance sheet and price. (9 of sixteen figures read for DTE Energy Company)

These are DTE’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research DTEPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Feb 17, 2026, accession 0000936340-26-000054.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

DTE Energy Company: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax5.8% ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Return on equity11.9% ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Return on capital employed, pre-tax4.9% ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Return on assets2.7% ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Gross margin
Why n/a

Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.

n/a ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Operating margin
Why n/a

Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.

n/a ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Net margin
Why n/a

Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.

n/a ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

DTE Energy Company: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity2.14 ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Current ratio0.80 ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Quick ratio0.80 ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Interest coverage2.25x ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Altman Z-score
Why n/a

Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Net debt26.10B ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Total assets 54.07BTotal liabilities 41.76BShareholders' equity 12.30BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What DTE Energy Company owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Feb 17, 2026, 0000936340-26-000054).

DTE Energy Company: balance sheet position
Total assets54.07B FiledFY2025 10-K, filed Feb 17, 2026
Total liabilities41.76B FiledFY2025 10-K, filed Feb 17, 2026
Shareholders' equity12.30B FiledFY2025 10-K, filed Feb 17, 2026
Cash208.0M FiledFY2025 10-K, filed Feb 17, 2026
Total debt26.31B FiledFY2025 10-K, filed Feb 17, 2026
Net debt26.10B
Current ratio0.80
Debt to equity2.14

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

DTE Energy Company: what the market charges, each with its source
FigureValue, source and document
Price to earnings18.23x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
P/E on trailing twelve months21.11x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book2.16x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Price to sales
Why n/a

Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Enterprise value to EBIT22.18x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Enterprise value to EBITDA12.49x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Diluted earnings per share7.03 USD FiledFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Graham number97.03 USD ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054

We publish no fair value or price target of our own. Value DTE on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for DTE Energy Company today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

DTE Energy Company: valuation
Share price128.33 USD
Market capitalisation26.70B USD
Enterprise value to EBITDA12.49x
Graham number97.03 USD
Diluted earnings per share, FY20257.03 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Jul 26, 2017: low 10.36x, median 18.50x, high 34.73x, latest 21.11x. 2,317 trading days with a meaningful ratio. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like DTE Energy Company

  1. CenterPoint Energy, Inc. (CNP)Market cap 26.22B USD
  2. PPL Corporation (PPL)Market cap 25.95B USD
  3. Public Service Enterprise Group Incorporated (PEG)Market cap 34.99B USD
  4. Edison International (EIX)Market cap 21.41B USD
  5. Pacific Gas & Electric Co. (PCG)Market cap 34.73B USD

Same industry (Regulated Electric) and size band (Large, 10B to 200B), nearest in market value and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

DTE Energy Company: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Free cash flow
Why n/a

The FY2025 filing carries no free cash flow we could read.

n/a ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Free cash flow margin
Why n/a

Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.

n/a ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Dividend yield3.6% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Payout ratio59.6% ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
FY2016 Net income: 868.0M USDFY2017 Net income: 1.13B USDFY2018 Net income: 1.12B USDFY2019 Net income: 1.17B USDFY2020 Net income: 1.37B USDFY2021 Net income: 907.0M USDFY2022 Net income: 1.08B USDFY2023 Net income: 1.40B USDFY2024 Net income: 1.40B USDFY2025 Net income: 1.46B USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

DTE Energy Company: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
18.23xFY2025Oct 15, 2026
2.16xFY2025Oct 15, 2026
22.18xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a The filed cash flow statement reports neither free cash flow nor the operating cash flow and capital spending it is built from.
5.8%FY2025Feb 17, 2026
3.6%FY2025Oct 15, 2026
2.14FY2025Feb 17, 2026
0.80FY2025Feb 17, 2026
n/aFY2025Oct 15, 2026
n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
n/aFY2025Oct 15, 2026
n/a This figure compares a year against the one before it, and we hold one filed year for this company.
n/aFY2025Oct 15, 2026
n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
n/aFY2025Feb 17, 2026
n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
n/aFY2025Feb 17, 2026
n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 10 filed fiscal years on record, FY2016 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2025, read from the annual reports DTE Energy Company filed with the SEC. Each year names its filing. Amounts in USD, as filed.

DTE Energy Company: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY2025n/a2.37B1.46B7.03n/an/a11.9%10-K, Feb 17, 20260000936340-26-000054
FY2024n/a2.09B1.40B6.77n/an/a12.0%10-K, Feb 13, 20250000936340-25-000065
FY2023n/a2.24B1.40B6.76n/an/a12.6%10-K, Feb 8, 20240000936340-24-000076
FY2022n/a1.75B1.08B5.52n/an/a10.4%10-K, Feb 23, 20230000936340-23-000073
FY2021n/a1.50B907.0M4.67n/an/a10.4%10-K, Feb 10, 20220000936340-22-000077
FY2020n/a1.55B1.37B7.08n/an/a11.0%10-K, Feb 19, 20210000936340-21-000112
FY2019n/a1.43B1.17B6.31n/an/a10.0%10-K, Feb 5, 20200000936340-20-000127
FY2018n/a1.59B1.12B5.25n/an/a10.9%10-K, Feb 7, 20190000936340-19-000086
FY201712.61B1.71B1.13B5.38n/a13.6%11.9%10-K, Feb 16, 20180000936340-18-000082
FY201610.63B1.49B868.0M4.11n/a14.0%9.6%10-K, Feb 9, 20170000936340-17-000064
  • Revenue, compound annual growth FY2016 to FY2017: 18.6%
  • Earnings, compound annual growth FY2016 to FY2025: 6.0%
  • Earnings per share, compound annual growth FY2016 to FY2025: 6.1%
  • Free cash flow: Fewer than two filed years carry free cash flow.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

DTE Energy Company: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score
Why n/a

Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.

n/a ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Piotroski F-score
Why n/a

Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.

n/a ComputedFY2025 10-K, filed Feb 17, 2026, 0000936340-26-000054
Named tests met2 of 30 Computed
Beta0.02 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 2 met, 23 not met, 5 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
ROIC at or above WACC; Owner earnings yield
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Low PEG, low debt (Peter Lynch); High returns and growth; EV/EBITDA and coverage; High yield, low payout; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; High return on tangibles; Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
Three forensic scores; Gross margin, turnover (Robert Novy-Marx); Dividends and buybacks; Low P/S, rising earnings (James O'Shaughnessy); Cash-covered dividend. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(13)
  • Current Ratio: Graham set this test for industrial companies; for utilities he tested debt against equity.
  • Piotroski F-Score: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
  • Altman Z-Score: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
  • Beneish M-Score: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Rev Growth 5Y: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
  • Gross Margin: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
  • Asset Turnover: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
  • Free Cash Flow Yield: We do not hold this figure for this company, so there is nothing to show.
  • Share Count Change Yoy: The stored figure is a zero that can stand for data we do not hold, so this test is not measured.
  • Capex To Ocf: We do not hold this figure for this company, so there is nothing to show.
  • P/S Ratio: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 13 figures could not be read on this company, among them Current Ratio, Piotroski F-Score, Altman Z-Score. Each blank in the table above names the rest, with its reason. 5 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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