Saturday 17 October 2026 Export DTM’s income statement to Excel — free account

DT Midstream, Inc.

DT Midstream, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 26.7% from fiscal 2024. In the quarter to June 2026, revenue grew 11.0%, EPS grew 4.76%, free cash flow grew 12.5% and total debt was flat, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five; insiders bought in the last twelve months.

123.67 4.86 +4.09%

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Market cap: $12.1B
P/E: 26.9×
Fwd P/E: 29.8×
Dividend yield: 2.80%
F-score: 7/9
Altman Z: 1.84
Beneish M: −2.62
Dividend safety: 46/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.27

Total sells 0.27

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	1	—	—	1	—	—	2	—	—
Sell	—	—	—	1	—	—	—	—	—	—	—	—

Insider Ownership 0.54%

Capital & Financial Ratios $m

Market Cap 12,120.00

Revenue 1,310.00

Net Income 482.00

Free Cash Flow 480.00

Net Debt 3,154.00

Current Ratio 1.37

Debt/Equity 0.68

P/E ratio 26.94

Fwd P/E 29.80

P/S ratio 9.63

P/B ratio 2.56

Past 5Y EPS Growth 5.12%

This Y EPS Growth 8.81%

Next Y EPS Growth 6.05%

Next Y revenue growth (24.02%)

Next 5Y EPS Growth 8.35%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 71.28%

10-year low 10-year high

P/S against its own 10 years 72.11%

10-year low 10-year high

P/B against its own 10 years 87.14%

10-year low 10-year high

EV/Sales against its own 10 years 65.04%

10-year low 10-year high

EV/FCF against its own 10 years 58.64%

10-year low 10-year high

Dividends

Payout Ratio 0.76

Annual Dividend Rate 3.46

Annual Dividend Yield 2.80%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	2.64	0.88 0.88 0.88
2025	2.34	0.82 0.82 0.82 0.82
2024	2.94	0.74 0.74 0.74 0.74
2023	2.76	0.69 0.69 0.69 0.69
2022	2.56	0.64 0.64 0.64 0.64
2021	1.20	0.60 0.60
2020	Powerpack
2019	Powerpack
2018	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	56	68	54	172
Receivables	169	180	188	184
Inventory	—	—	—	—
Other	—	—	—	—
	272	310	318	409

	2023	2024	2025	Q'26
Payables	94	77	65	70
ST’ Debt	165	150	—	—
Other	33	35	48	50
	434	426	296	298

Compound Annual Growth %

	10y	5y	3y
Sales	—	10.51%	10.55%
Cash Flow	—	7.75%	6.14%
Earnings	—	7.17%	6.03%
Book Value	—	2.90%	5.50%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	336	343	—	—	—
’25	303	309	314	317	1,243
’24	240	244	248	249	981
’23	220	224	234	244	922
’22	215	227	235	243	920
’21	197	208	212	223	840
’20	—	174	203	208	754

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	280	222	—	—	—
’25	247	185	274	161	867
’24	241	165	205	152	763
’23	244	145	225	184	798
’22	234	145	195	151	725
’21	163	165	136	108	572
’20	—	297	157	143	597

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	202	117	—	—	—
’25	176	104	131	30	441
’24	143	84	124	62	413
’23	16	(48)	24	34	26
’22	214	110	77	(14)	387
’21	136	132	100	64	432
’20	—	(49)	63	65	79

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.27	1.09	—	—	—
’25	1.06	1.04	1.13	1.08	4.30
’24	0.99	0.98	0.90	0.73	3.60
’23	0.84	0.93	0.94	1.24	3.94
’22	0.84	0.93	1.16	0.88	3.81
’21	0.84	0.70	0.77	0.89	3.16
’20	—	0.75	1.09	—	3.35

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	—	—	38.46	45.58	45.11	51.17	83.30	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	—	—	50.52	61.12	58.30	109.85	122.70
People
People	Employees	—	—	—	—	258	280	362	402	556	588
	Revenue/emp, $m	—	—	0.00	0.00	2.92	3.00	2.54	2.29	1.76	2.11
Income, $m
Income, $m	Revenue	—	—	485	504	754	840	920	922	981	1,243
	Gross margin, %	—	—	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	—	—	331	292	440	422	482	500	504	598
	EBT margin, %	—	—	68.25	57.94	58.36	50.24	52.39	54.23	51.38	48.11
	Net income	—	—	259	220	324	318	382	396	367	454
	Depreciation	—	—	81	110	169	184	189	200	227	275
Per share, $
Per share, $	Revenue	—	—	5.01	5.21	7.80	8.69	9.51	9.52	10.05	12.23
	Earnings	—	—	2.67	2.28	3.35	3.17	3.83	3.94	3.63	4.34
	Cash flow	—	—	3.71	4.03	6.17	5.92	7.50	8.24	7.82	8.53
	Capex	—	—	(1.82)	(2.18)	(5.36)	(1.45)	(3.50)	(7.97)	(3.59)	(4.19)
	Free cash flow	—	—	1.89	1.85	0.82	4.47	4.00	0.27	4.23	4.34
	Book value	—	—	0.00	38.51	43.72	41.58	42.96	44.17	48.83	48.01
	Shares, m	—	—	97	97	97	97	97	97	98	102
Valuation, ×
Valuation, ×	P/E	—	—	12.61	12.61	12.61	15.01	13.91	13.95	27.47	27.58
	P/S	—	—	4.98	4.98	4.98	5.52	5.59	5.79	9.89	9.78
	P/B	—	—	1.02	1.02	1.02	1.15	1.24	1.25	2.04	2.49
	EV/Sales	—	—	8.67	8.67	8.67	8.99	9.20	9.24	13.36	12.43
	EV/FCF	—	—	17.86	17.86	17.86	17.49	21.88	327.50	31.73	35.04
Cash, $m
Cash, $m	Operating cash flow	—	—	359	390	597	572	725	798	763	867
	Capex	—	—	(176)	(211)	(518)	(140)	(338)	(772)	(350)	(426)
	Free cash flow	—	—	183	179	79	432	387	26	413	441
Balance, $m
Balance, $m	Working capital	—	—	—	(3,100)	(2,805)	183	(352)	(162)	(116)	22
	Total debt	—	—	—	2,922	3,203	3,046	3,389	3,230	3,469	3,324
	Net debt	—	—	—	2,876	3,161	2,914	3,328	3,174	3,401	3,270
	Shareholders’ equity	—	—	—	3,724	4,228	4,021	4,154	4,280	4,766	4,878
Returns, %
Returns, %	ROA	—	—	5.93	5.24	3.87	3.72	4.35	4.31	3.74	4.41
	ROIC	—	—	0.00	2.47	3.50	3.62	3.99	3.95	3.74	4.71
	ROE	—	—	0.00	5.13	7.85	7.44	9.05	9.11	7.83	9.15

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
PAGP Plains Group Holdings, L.P.	$20.7B	9.8×	15.6×	+66.26% (above 0%: growing)	+1,213.33% (above 0%: growing)	+50.93% (above 0%: growing)	4.57%	2.24%	Compare
WES Western Midstream Partners, LP	$18.2B	14.0×	12.6×	+29.97% (above 0%: growing)	+12.50% (above 0%: growing)	−36.19% (below 0%: shrinking)	90.41%	43.01%	Compare
PAA Plains All American Pipeline, L.P.	$17.7B	7.0×	13.5×	+66.26% (above 0%: growing)	+1,095.24% (above 0%: growing)	+50.92% (above 0%: growing)	4.57%	2.25%	Compare
VNOM Viper Energy Inc.	$15.7B	322×	18.4×	+127.95% (above 0%: growing)	+160.71% (above 0%: growing)	+146.15% (above 0%: growing)	100.00%	63.22%	Compare
DTM DT Midstream, Inc.	$12.1B	26.9×	29.8×	+11.00% (above 0%: growing)	+4.76% (above 0%: growing)	+12.50% (above 0%: growing)	100.00%	50.44%
FRO Frontline PLC	$11.7B	7.9×	4.6×	+112.25% (above 0%: growing)	+745.71% (above 0%: growing)	+155.42% (above 0%: growing)	74.15%	65.92%	Compare
AM Antero Midstream Corporation	$9.5B	24.6×	19.5×	+7.13% (above 0%: growing)	−7.69% (below 0%: shrinking)	−11.79% (below 0%: shrinking)	74.17%	55.59%	Compare
KNTK Kinetik Holdings Inc.	$8.7B	19.8×	54.5×	+36.25% (above 0%: growing)	+96.97% (above 0%: growing)	+775.96% (above 0%: growing)	46.77%	23.04%	Compare
SOBO South Bow Corporation	$7.0B	15.7×	21.2×	+4.20% (above 0%: growing)	+39.13% (above 0%: growing)	+48.75% (above 0%: growing)	55.68%	48.90%	Compare
Median of peers	$13.7B	14.8×	17.0×	+51.26%	+128.84%	+50.93%	64.92%	45.96%

All 58 Oil & Gas Midstream stocks →

DT Midstream, Inc. (DTM) key facts

Strength: DT Midstream, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 26.7% from fiscal 2024.
DT Midstream, Inc. (DTM) is an Oil & Gas Midstream company in the Energy sector, listed on the New York Stock Exchange.
As of October 16, 2026, DTM traded at $123.67, a market capitalization of $12.1 billion.
DT Midstream, Inc. pays an annual dividend of $3.46 per share, a yield of 2.80%, with a payout ratio of 75.7%.
Return on equity was 9.15% and debt-to-equity 0.68.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 1.84 (grey zone) for fiscal 2025.