Is the business good?
How good a business is DTE?
DTE Energy earns 4.4% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
4.4%
Return on invested capital · cost of capital 9.0% · 4.6 points below what the capital costs: growth destroys value
- Operating margin
- 13%
Operating margin · Utilities - Regulated Electric median 22% · 12 months to Q1 2026
- Share count, year on year
- +0.48%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 14% |
| FY2021 | 10.0% |
| FY2022 | 9.1% |
| FY2023 | 18% |
| FY2024 | 17% |
| FY2025 | 15% |
Details›
- Operating margin12 months to Q1 2026
- 13%
- Net margin12 months to Q1 2026
- 7.6%
- Revenue, trailing twelve months
- $16.5B
- Net income, trailing twelve months
- $1.26B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 4.4%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Utilities - Regulated Electric
Ranks #17 of 37 by Smart Score