InsiderClue
Stocks · Energy · Natural Gas Transmission

DT Midstream, Inc.

DTM Clue Score59
United States Fiscal year ends December CIK 0001842022
$124.01 +0.20% Close, 9 Oct 2026
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Price $124.01 +154.12% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 1 Jul 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2019Revenue0.50Operating income0.26Net income0.20EPS, diluted2.11Fiscal year 2020Revenue0.75 +49.6%Operating income0.41Net income0.31 +52.9%EPS, diluted3.23 +53.1%Fiscal year 2021Revenue0.84 +11.4%Operating income0.40Net income0.31 −1.6%EPS, diluted3.16 −2.2%Fiscal year 2022Revenue0.92 +9.5%Operating income0.48Net income0.37 +20.5%EPS, diluted3.81 +20.6%Fiscal year 2023Revenue0.92 +0.2%Operating income0.47Net income0.38 +3.8%EPS, diluted3.94 +3.4%Fiscal year 2024Revenue0.98 +6.4%Operating income0.49Net income0.35 −7.8%EPS, diluted3.60 −8.6%Fiscal year 2025Revenue1.24 +26.7%Operating income0.61Net income0.44 +24.6%EPS, diluted4.30 +19.4%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 0.50 0.75 0.84 0.92 0.92 0.98 1.24
Growth +49.6% +11.4% +9.5% +0.2% +6.4% +26.7%
Operating income 0.26 0.41 0.40 0.48 0.47 0.49 0.61
Net income 0.20 0.31 0.31 0.37 0.38 0.35 0.44
Growth +52.9% −1.6% +20.5% +3.8% −7.8% +24.6%
EPS, diluted 2.11 3.23 3.16 3.81 3.94 3.60 4.30
Growth +53.1% −2.2% +20.6% +3.4% −8.6% +19.4%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2019Operating margin51.8%Net margin40.5%Free cash flow margin35.5%Fiscal year 2020Operating margin54.9%Net margin41.4%Free cash flow margin10.5%Fiscal year 2021Operating margin47.9%Net margin36.5%Free cash flow margin51.4%Fiscal year 2022Operating margin52.0%Net margin40.2%Free cash flow margin42.1%Fiscal year 2023Operating margin51.1%Net margin41.6%Free cash flow margin2.8%Fiscal year 2024Operating margin49.8%Net margin36.1%Free cash flow margin42.1%Fiscal year 2025Operating margin49.4%Net margin35.5%Free cash flow margin35.5%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 51.8% 54.9% 47.9% 52.0% 51.1% 49.8% 49.4%
Net margin 40.5% 41.4% 36.5% 40.2% 41.6% 36.1% 35.5%
Free cash flow margin 35.5% 10.5% 51.4% 42.1% 2.8% 42.1% 35.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow0.39Capital expenditure−0.21Free cash flow0.18Dividends paid0.00Fiscal year 2020Operating cash flow0.60Capital expenditure−0.52Free cash flow0.08 −55.9%Buybacks0.00Dividends paid0.00Fiscal year 2021Operating cash flow0.57Capital expenditure−0.14Free cash flow0.43 +446.8%Buybacks0.00Dividends paid−0.06Fiscal year 2022Operating cash flow0.73Capital expenditure−0.34Free cash flow0.39 −10.4%Buybacks−0.00Dividends paid−0.24Fiscal year 2023Operating cash flow0.80Capital expenditure−0.77Free cash flow0.03 −93.3%Buybacks0.00Dividends paid−0.26Fiscal year 2024Operating cash flow0.76Capital expenditure−0.35Free cash flow0.41 +1,488.5%Dividends paid−0.28Fiscal year 2025Operating cash flow0.87Capital expenditure−0.43Free cash flow0.44 +6.8%Dividends paid−0.32
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.39 0.60 0.57 0.73 0.80 0.76 0.87
Capital expenditure −0.21 −0.52 −0.14 −0.34 −0.77 −0.35 −0.43
Free cash flow 0.18 0.08 0.43 0.39 0.03 0.41 0.44
Growth −55.9% +446.8% −10.4% −93.3% +1,488.5% +6.8%
Buybacks n/a 0.00 0.00 −0.00 0.00 n/a n/a
Dividends paid 0.00 0.00 −0.06 −0.24 −0.26 −0.28 −0.32

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2019Cash0.05Shareholders’ equity3.72Fiscal year 2020Cash0.04Total debt0.00Net cash (debt)0.04Shareholders’ equity4.23Debt to equity0.00Fiscal year 2021Cash0.13Total debt3.05Net cash (debt)−2.91Shareholders’ equity3.87Debt to equity0.79Fiscal year 2022Cash0.06Total debt3.06Net cash (debt)−3.00Shareholders’ equity4.01Debt to equity0.76Fiscal year 2023Cash0.06Total debt3.07Net cash (debt)−3.01Shareholders’ equity4.14Debt to equity0.74Fiscal year 2024Cash0.07Total debt3.32Net cash (debt)−3.25Shareholders’ equity4.63Debt to equity0.72Fiscal year 2025Cash0.05Total debt3.32Net cash (debt)−3.27Shareholders’ equity4.74Debt to equity0.70
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.05 0.04 0.13 0.06 0.06 0.07 0.05
Total debt n/a 0.00 3.05 3.06 3.07 3.32 3.32
Net cash (debt) n/a 0.04 −2.91 −3.00 −3.01 −3.25 −3.27
Shareholders’ equity 3.72 4.23 3.87 4.01 4.14 4.63 4.74
Debt to equity n/a 0.00 0.79 0.76 0.74 0.72 0.70

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
51.8% 54.9% 47.9% 52.0% 51.1% 49.8% 49.4%
57.9% 58.4% 50.2% 52.4% 54.2% 51.4% 48.1%
40.5% 41.4% 36.5% 40.2% 41.6% 36.1% 35.5%
35.5% 10.5% 51.4% 42.1% 2.8% 42.1% 35.5%
Spending
41.9% 68.7% 16.7% 36.7% 83.7% 35.7% 34.3%
24.7% 26.4% 24.6% 20.7% 20.8% 27.2% 24.1%
Returns
5.5% 7.4% 7.9% 9.2% 9.3% 7.7% 9.3%
2.6% 3.7% 3.8% 4.2% 4.3% 3.6% 4.4%
Balance and payout
n/a 0.00 0.79 0.76 0.74 0.72 0.70
n/a 49.3% 50.8% 53.0% 52.3% 52.0% 51.6%
0.0% 0.0% 18.9% 65.9% 68.5% 79.1% 73.5%
0.0% 0.0% 13.4% 63.8% 1,011.5% 67.8% 73.5%