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DT Midstream, Inc.(DTM)Earnings, Financials & Key Ratios
DTM•NYSE
$146.13
33.0× P/E·Price updated Jul 7, 2026
AboutDT Midstream, Inc. provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. It develops, owns, and operates an integrated portfolio of interstate pipelines, intrastate pipelines, storage systems, lateral pipelines, gathering systems, related treatment plants, and compression and surface facilities. The company engages in the transportation and storage of natural gas for intermediate and end user customers; and collecting natural gas from points at or near customers' wells for delivery to plants for processing, to gathering pipelines for gathering, or to pipelines for transportation, as well as offers compression, dehydration, gas treatment, water impoundment, water storage, water transportation, and sand mining services. It serves natural gas producers, local distribution companies, electric power generators, industrials, and national marketers. The company was incorporated in 2021 and is headquartered in Detroit, Michigan.Show more
- Revenue$1.24B+26.7%
- EBITDA$889M+24.2%
- Net Income$441M+24.6%
- EPS (Diluted)4.43+23.1%
- Gross Margin73.53%+36.6%
- EBITDA Margin71.52%-2.0%
- Operating Margin49.4%-0.9%
- Net Margin35.48%-1.7%
- ROE9.15%+16.9%
DTM Price & Volume
DT Midstream, Inc. (DTM) stock price & volume — 10-year historical chart
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Infrastructure Expansion Drives Robust Margin Scaling
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Accelerating
Profitability:Strong
Financial:Healthy
Cash Flow:Robust
Primary Risk:Basin-specific volume concentration
Key Thesis Takeaways
- DT Midstream is successfully leveraging its core infrastructure assets to drive consistent revenue growth, evidenced by a 10.9% year-over-year increase in 2026Q1.
- While the company maintains a disciplined debt-to-equity ratio of 0.01 as of 2026Q1, investors should monitor the inherent concentration risks associated with its heavy reliance on the Haynesville and Appalachia basins.
- The transition from capital-intensive construction to high-margin operations appears to be yielding significant cash flow, though the current P/E of 34.03 suggests that much of this growth may already be priced into the equity.
Verdict Logic
while the company demonstrates strong operational scaling and a 2.1% dividend yield, the elevated P/E of 34.03 and potential goodwill impairment risks from the $781 million balance suggest a cautious entry point.
DTM Growth Metrics
DT Midstream, Inc. (DTM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years10.51%
3 Years10.55%
TTM22.22%
Profit CAGR
10 Years-
5 Years7.17%
3 Years6.03%
TTM27.95%
EPS CAGR
10 Years-
5 Years6.59%
3 Years5.15%
TTM24.04%
Return on Capital
10 Years7.08%
5 Years5.86%
3 Years5.75%
Last Year6.28%
DTM Recent Earnings
DT Midstream, Inc. (DTM) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
Apr 30, 2026Metric
Actual
Est
EPS
$1.27+14.4%
$1.11
Rev
$336M+7.1%
$314M
Q1 2026
Feb 19, 2026Metric
Actual
Est
EPS
$1.08-2.7%
$1.11
Rev
$317M-0.0%
$317M
Q4 2025
Oct 30, 2025Metric
Actual
Est
EPS
$1.13+9.7%
$1.03
Rev
$314M-1.9%
$320M
Q3 2025
Jul 31, 2025Metric
Actual
Est
EPS
$1.04+6.1%
$0.98
Rev
$309M-1.1%
$312M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 30, 2026 | $1.27vs $1.11+14.4% | $336Mvs $314M+7.1% |
| Q1 2026 | Feb 19, 2026 | $1.08vs $1.11-2.7% | $317Mvs $317M-0.0% |
| Q4 2025 | Oct 30, 2025 | $1.13vs $1.03+9.7% | $314Mvs $320M-1.9% |
| Q3 2025 | Jul 31, 2025 | $1.04vs $0.98+6.1% | $309Mvs $312M-1.1% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for DT Midstream, Inc. (DTM)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $146.13 | $14.91B | 32.99 | 26.71% | 35.48% | 9.15% | 2.16% | |
| $75.08 | $91.82B | 35.08 | 13.78% | 23.82% | 18.98% | — | |
| $32.49 | $72.28B | 23.72 | 12.45% | 18.92% | 10.27% | — | |
| $68.80 | $71.67B | 29.90 | 10.29% | 21.83% | 9.23% | — | |
| $273.81 | $58.77B | 32.14 | 3.06% | 12.98% | 70.77% | — | |
| $90.67 | $57.12B | 16.73 | 55.42% | 10.04% | 15.86% | — |
Compare DTM vs Peers
DT Midstream, Inc. (DTM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
DTM SEC Filings & Documents
DT Midstream, Inc. (DTM) SEC filings — annual & quarterly reports (10-K, 10-Q)
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DTM Frequently Asked Questions
DT Midstream, Inc. (DTM) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is DT Midstream, Inc.'s revenue?
DT Midstream, Inc. (DTM) reported $1.28B in revenue for fiscal year 2025. This represents a 163% increase from $485.0M in 2018.
How fast is DT Midstream, Inc. growing?
DT Midstream, Inc. (DTM) grew revenue by 26.7% over the past year. This is strong growth.
Is DTM profitable?
Yes, DT Midstream, Inc. (DTM) is profitable, generating $467.0M in net income for fiscal year 2025 (35.5% net margin).
Dividend & Returns
Does DTM pay dividends?
Yes, DT Midstream, Inc. (DTM) pays a dividend with a yield of 2.16%. This makes it attractive for income-focused investors.
What is DTM's return on equity?
DT Midstream, Inc. (DTM) has a return on equity (ROE) of 9.1%. This is below average, suggesting room for improvement.
What is DT Midstream, Inc.'s free cash flow?
DT Midstream, Inc. (DTM) generated $727.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.