Utilities · Multi-Utilities · US stock · price as of 23 Oct 2026
Key indicators
Price
$14.70
52-week range
$14.41 – $18.53
Market cap
$3.1B
P/E (trailing)
2.4×
EV / EBITDA
7.3×
Free-cash-flow yield
107.8%
Dividend yield
7.4%
Revenue (last 12 months)
$58M
Revenue growth (3y a year)
−9.4%
Operating margin
3,727.6%
Return on invested capital
5.0%
Net debt / EBITDA
6.6×
Fair value
Fair value (average of valid models)$19.46 middle half of models $15 – $25
Versus priceUndervalued+32% to fair value
P/E multiple
$15.34
P/B multiple
$24.52
P/S multiple
$12.51
EV/EBIT multiple
$25.49
Model uncertainty
High
X-Ray Score
54/ 100 · Medium confidence · ahead of 61% of sector peers
Valuation90
Growth16
Profitability49
Financial health47
Dividends64
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
DTE Energy is a Michigan-based energy company whose main businesses are DTE Electric and DTE Gas, regulated utilities serving customers across the state. It also operates non-utility businesses that include energy trading, renewable natural gas and industrial energy services. Revenue from the utilities comes from rates approved by the Michigan Public Service Commission, which cover costs and allow a return on investment in power plants and grid infrastructure.
Return on invested capital is 5%. Net debt is 6.6 times of EBITDA. It pays a dividend, and the yield is 7.4%. These numbers describe past results and current financial position, and they are shown for reference only.
StocksXray gives Dte Energy Co an X-Ray Score of 54 out of 100 (medium confidence), ahead of 61% of the S&P 500 stocks in its sector. Its strongest lens is valuation (90) and its weakest is growth (16).
Our fair value (the average of the valid models) is $19.46 (range $14.63 to $24.76). At $14.70 the stock trades 24% below that value, so the label is "Undervalued" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Dte Energy Co (DTB)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$19.88
$15.30
$16.67
$16.25
$16.20
$14.70
Market cap
$3.9B
$3.0B
$3.4B
$3.4B
$3.4B
$3.1B
P/E
4.3×
2.8×
2.5×
2.4×
2.3×
2.4×
EV / revenue
111.1×
269.9×
411.2×
440.0×
478.3×
509.2×
EV / EBITDA
7.7×
6.9×
6.3×
6.9×
6.9×
7.3×
Price / free cash flow
1.3×
1.5×
1.1×
0.9×
1.0×
0.9×
Free-cash-flow yield
79.5%
65.9%
93.8%
108.3%
101.7%
107.8%
Price / book
0.4×
0.3×
0.3×
0.3×
0.3×
0.2×
Dividend yield
19.52%
23.59%
23.28%
25.54%
27.41%
7.43%
Fundamentals checklist ● 5 Good · ● 3 Average · ● 5 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−3.7%Good
Risk models
Altman Z score0.9×Average
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)8.4%Average
Revenue growth (3y)−9.4%Bad
Growth consistency30%Bad
Balance sheet
Current ratio1.0×Good
Net debt / EBITDA6.6×Bad
Interest cover2.0×Bad
Valuation
Fair value vs price1.3×Good
EBIT / EV yield7.3%Good
Profitability
Return on invested capital5.0%Bad
Operating margin3,727.6%Good
XStocksXray
Dte Energy Co (DTB)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
198
82
59
60
61
58
Gross profit
–
–
–
–
–
–
Operating income
1,495
1,748
2,243
2,091
2,374
2,162
Net income
907
1,083
1,397
1,404
1,462
1,264
Diluted EPS ($)
4.67
5.52
6.76
6.77
7.03
6.10
Free cash flow
3,067
1,977
3,220
3,643
3,409
3,295
Gross margin
–
–
–
–
–
–
Operating margin
755.1%
2,131.7%
3,801.7%
3,485.0%
3,891.8%
3,727.6%
Net margin
458.1%
1,320.7%
2,367.8%
2,340.0%
2,396.7%
2,179.3%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
39,719
42,683
44,755
48,846
54,066
55,108
Cash
28
33
26
24
208
238
Total debt
18,163
19,159
20,845
23,053
26,023
26,711
Equity
8,705
10,397
11,050
11,699
12,303
12,323
Dividend per share ($)
3.88
3.61
3.88
4.15
4.44
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
