DTE Energy
DTE · NYSEElectric Services · Fiscal year ends Dec 31
Net income was $1.5B. Net debt was $26B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating income | $1.5B | $1.7B | $2.2B | $2.1B | $2.4B |
| Interest expense | $630M | $675M | $791M | $951M | $1.1B |
| Pre-tax income | $656M | $1.1B | $1.6B | $1.4B | $1.6B |
| Income tax | −$130M | $29M | $169M | −$34M | $88M |
| Net income | $907M | $1.1B | $1.4B | $1.4B | $1.5B |
| Diluted EPS | 4.67 | 5.52 | 6.76 | 6.77 | 7.03 |
| Diluted shares | 194M | 196M | 206M | 207M | 207M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $28M | $33M | $26M | $24M | $208M |
| Receivables | $1.7B | $2B | $1.6B | $1.7B | $2B |
| Current assets | $3.3B | $4.2B | $3.5B | $3.6B | $4.3B |
| Net PP&E | $26.9B | $28.8B | $28.2B | $30.9B | $33.7B |
| Goodwill | $2B | $2B | $2B | $2B | $2B |
| Total assets | $39.7B | $42.7B | $44.8B | $48.8B | $54.1B |
| Payables | $1.4B | $1.6B | $1.4B | $1.4B | $1.8B |
| Deferred revenue | $78M | $94M | $106M | $135M | $170M |
| Current liabilities | $6.3B | $5.2B | $5.9B | $5.1B | $5.4B |
| Short-term debt | $758M | $1.2B | $1.3B | $1.1B | $882M |
| Long-term debt | $17.5B | $18.1B | $19.7B | $22.1B | $25.3B |
| Shareholders' equity | $8.7B | $10.4B | $11.1B | $11.7B | $12.3B |
| Backlog (remaining obligations) | $78M | $94M | – | – | – |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $3.1B | $2B | $3.2B | $3.6B | $3.4B |
| Depreciation & amortisation | $1.4B | $1.5B | $1.6B | $1.7B | $1.8B |
| Acquisitions | $0 | $0 | $0 | $0 | $210M |
| Share buybacks | $66M | $55M | $0 | $0 | – |
| Dividends paid | $791M | $685M | $752M | $810M | $871M |
| Dividend per share | 3.88 | 3.61 | 3.88 | 4.15 | 4.44 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating income growth (YoY) | – | 16.9% | 28.3% | −6.8% | 13.5% |
| EPS growth (YoY) | – | 18.2% | 22.5% | 0.1% | 3.8% |
| Return on equityBlank when equity is negative | 10.4% | 10.4% | 12.6% | 12.0% | 11.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 4.5% | 4.7% | 5.8% | 4.8% | 4.9% |
| Cash conversion (CFO ÷ net income) | 3.38x | 1.83x | 2.30x | 2.59x | 2.33x |
| Interest cover | 2.37x | 2.59x | 2.84x | 2.20x | 2.25x |
| Debt ÷ equity | 2.10x | 1.86x | 1.90x | 1.98x | 2.13x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $18.2B | $19.3B | $21B | $23.2B | $26B |
| Current ratio | 0.52x | 0.81x | 0.60x | 0.71x | 0.80x |
Recent filings
More in Electric Services
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.