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Regulated electric and gas utility serving southeastern Michigan, including Detroit.
Regulated electric and gas utility serving southeastern Michigan, including Detroit.
Earns an allowed return on the plants, wires and pipes that Michigan's regulator lets it add to the rate base, so approved capital spending drives earnings. It owns the Fermi 2 nuclear plant and is retiring its coal plants in stages in favor of renewables. It spun off its pipeline arm, DT Midstream, in 2021.
Moat: narrow (regulatory licence, scale). Regulated Michigan monopoly territory with cost-of-service rate recovery.
Headquarters: Detroit, Michigan, US · Founded: 1903 · Employees: 9,650
Size DTE Energy (DTE) is a United States Utilities company (Electric Utilities) with a market value of $28.1B, the 384th largest of 3,117 United States companies the cockpit tracks. Shares closed at $135.08 on 6 Nov 2026.
Performance Over six months the shares fell 3.2%, against -1.5% for the median peer and -1.1% for the United States market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 17.5% over the last twelve months (peer median +7.1%); the operating margin is 12.6% (peer median 24.5%).
Valuation It trades at 16.6× forward earnings against a peer median of 17.8× (9th cheapest of 20).
Capital Return on invested capital runs 2.0 points below its cost of capital (6.0% WACC).
Credit DTE Energy has 36 bonds outstanding ($20.2B), rated A by the agencies and trading like A at a weighted spread of 71 bp.
Short interest Short interest is 2.8% of the free float (15 Oct 2026).
Next results Next results expected around 12 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $16.3B | $15.3B | $12.3B | $12.5B | $19.2B |
| Revenue growth | — | +24% | -1% | -35% | — |
| Gross profit | $2.62B | $2.58B | $2.26B | $2.34B | $2.31B |
| EBITDA | $4.04B | $3.96B | $3.56B | $3.54B | $3.36B |
| Net income | $1.31B | $1.46B | $1.40B | $1.39B | $1.08B |
| Free cash flow | -$1.93B | -$1.00B | -$794M | -$689M | -$1.39B |
| Capital expenditure | $5.31B | $4.43B | $4.47B | $3.93B | $3.38B |
| Total debt | $27.8B | $26.3B | $23.2B | $21.0B | $19.2B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| DTE Energy DTE | $28.1B | -3% | +18% | 13% | 16.6× | n/a |
| CMS Energy CMS | $21.7B | -5% | +8% | 20% | 17.1× | n/a |
| American Electric Power AEP | $68.9B | -3% | +10% | 24% | 18.5× | n/a |
| Xcel Energy XEL | $51.1B | +1% | +4% | 22% | 18.1× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | DTE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.3% | +6.1% | 11th highest of 21 |
| 6-month return | -3.2% | -1.5% | 8th lowest of 21 |
| Distance from 52-week high | -13.3% | -9.4% | 7th lowest of 21 |
| Revenue growth (TTM) | +17.5% | +7.1% | highest of 21 |
| Operating margin | 12.6% | 24.5% | 3rd lowest of 21 |
| Forward P/E | 16.6× | 17.8× | 9th cheapest of 20 |
| ROIC minus cost of capital | -2.0 pp | -0.8 pp | 4th lowest of 21 |
| EV / EBITDA | 13.8× | 12.4× | 6th most expensive of 18 |
| Net debt / EBITDA | 6.9× | 5.2× | 2nd most indebted of 18 |
| Bond spread | 71 bp | 81 bp | 2nd tightest of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| DTE Energy DTE | United States | $28.1B | -3% | +18% | 13% | 16.6× | n/a | n/a |
| PG&E PCG | United States | $28.6B | -19% | +4% | 20% | 7.4× | n/a | n/a |
| CenterPoint Energy CNP | United States | $27.0B | -2% | +8% | 24% | 19.9× | n/a | n/a |
| PPL PPL | United States | $26.9B | 0% | +7% | 24% | 17.0× | n/a | n/a |
| FirstEnergy FE | United States | $26.9B | +5% | +12% | 19% | 16.1× | n/a | n/a |
| Orsted ORSTED.CO | Denmark | $29.5B | -8% | +15% | 2% | 20.4× | n/a | n/a |
| China National Nuclear Power 601985.SS | China | $29.8B | +7% | -2% | 27% | 26.1× | n/a | n/a |
| Eversource Energy ES | United States | $26.3B | +6% | +8% | 22% | 14.3× | -8.6% | +8.8% |
| Clp 0002.HK | Hong Kong | $26.1B | +7% | -2% | 16% | 17.9× | 1.6% | +2.0% |
| Huaneng Lancang River Hydropower 600025.SS | China | $30.7B | +15% | +4% | 48% | 23.1× | 3.8% | +6.6% |
| Power Grid Corporation of India POWERGRID.NS | India | $25.6B | -17% | +3% | 55% | 14.4× | n/a | n/a |
| Fortis FTS.TO | Canada | $31.0B | +11% | +4% | 28% | 22.5× | n/a | n/a |
| Ameren AEE | United States | $31.2B | +4% | +4% | 25% | 20.0× | n/a | n/a |
| Hydro One H.TO | Canada | $24.7B | -2% | +9% | 24% | 24.5× | n/a | n/a |
| CGN Power 1816.HK | Hong Kong | $32.3B | -1% | -16% | 31% | 13.8× | n/a | n/a |
| ENBW Energie Baden-Wuerttemberg EBK.DE | Germany | $24.2B | -3% | +9% | 5% | n/a | 5.2% | +11.8% |
| NTPC NTPC.NS | India | $33.2B | -19% | +7% | 20% | 12.3× | n/a | n/a |
| Fortum FORTUM.HE | Finland | $23.3B | +15% | +14% | 17% | 23.4× | 9.2% | -36.7% |
| Edison International EIX | United States | $22.8B | -14% | +3% | 27% | 9.2× | n/a | n/a |
| Terna TRN.MI | Italy | $22.0B | -2% | +11% | 42% | 17.8× | n/a | n/a |
| Public Service Enterprise PEG | United States | $36.2B | -5% | +13% | 27% | 16.0× | n/a | n/a |
DTE Energy has 36 bonds outstanding with $20.2B face value. The agencies rate it A; its bonds trade like A. Weighted yield 5.56%, a spread of 71 bp over government bonds.