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Annual data and sources

DT Midstream, Inc. (DTM) · NYSE · USD · Sector unavailable · CIK 0001842022

Annual coverage: 2019-12-31–2025-12-31 (7 periods). Financial snapshot built 2026-10-09.

DTM annual financial history

All stored annual observations, independent of the chart window. Per-share amounts in USD. Unavailable values are not zero.

See the calculation and limitations.

Annual per-share context (USD/share)

Complete annual history, independent of chart loading and range. Revenue/share is annual revenue per average diluted share. Debt/share is borrowings per year-end common share, excluding leases. Missing inputs remain unavailable. Metric definitions.

Fiscal endRevenue / shareTotal debt / shareInputs & filing sources
2025-12-3112.13Unavailable
Inputs & filings

revenue: 1243000000; averageDilutedShares: 102500000; totalDebt: No supported complete debt aggregate or non-overlapping borrowing components; leases excluded; periodEndShares: 101673925

revenue (2026-02-19)
averageDilutedShares (2026-02-19)
periodEndShares (2026-02-19)
2024-12-319.97Unavailable
Inputs & filings

revenue: 981000000; averageDilutedShares: 98400000; totalDebt: No supported complete debt aggregate or non-overlapping borrowing components; leases excluded; periodEndShares: 101324894

revenue (2026-02-19)
averageDilutedShares (2026-02-19)
periodEndShares (2026-02-19)
2023-12-319.46Unavailable
Inputs & filings

revenue: 922000000; averageDilutedShares: 97500000; totalDebt: No supported complete debt aggregate or non-overlapping borrowing components; leases excluded; periodEndShares: 96971021

revenue (2026-02-19)
averageDilutedShares (2026-02-19)
periodEndShares (2025-02-26)
2022-12-319.47Unavailable
Inputs & filings

revenue: 920000000; averageDilutedShares: 97200000; totalDebt: Borrowing components do not come from the same filing; periodEndShares: 96754549

revenue (2025-02-26)
averageDilutedShares (2025-02-26)
periodEndShares (2024-02-16)
2021-12-318.6731.49
Inputs & filings

revenue: 840000000; averageDilutedShares: 96900000; totalDebt: 3046000000; periodEndShares: 96734010

revenue (2024-02-16)
averageDilutedShares (2024-02-16)
totalDebt component 1 (2023-02-16) · totalDebt component 2 (2023-02-16) · totalDebt component 3 (2023-02-16)
periodEndShares (2023-02-16)
2020-12-317.80Unavailable
Inputs & filings

revenue: 754000000; averageDilutedShares: 96700000; totalDebt: No supported complete debt aggregate or non-overlapping borrowing components; leases excluded; periodEndShares: No positive common shares on the exact fiscal-end date

revenue (2023-02-16)
averageDilutedShares (2023-02-16)
2019-12-315.21Unavailable
Inputs & filings

revenue: 504000000; averageDilutedShares: 96700000; totalDebt: No supported complete debt aggregate or non-overlapping borrowing components; leases excluded; periodEndShares: No positive common shares on the exact fiscal-end date

revenue (2022-02-25)
averageDilutedShares (2022-02-25)

Annual returns and cash generation (%)

Complete annual history, independent of chart loading and range. FCF margin and FCF / net income use matching annual totals. ROCE uses positive exact opening and closing capital-employed bases. Inputs, scopes and unavailable reasons are disclosed below. Missing inputs remain unavailable. Metric definitions.

Fiscal endFCF margin (%)FCF / net income (%)ROCE (%)Inputs & filing sources
2025-12-3135.4897.146.37
Inputs & filings

Calculation inputs: {"original":{"fcfTotal":{"value":441000000,"capex":{"accession":"0001842022-26-000003","end":"2025-12-31","filed":"2026-02-19","form":"10-K","start":"2025-01-01","tag":"PaymentsToAcquirePropertyPlantAndEquipment","unit":"USD"},"ocf":{"accession":"0001842022-26-000003","end":"2025-12-31","filed":"2026-02-19","form":"10-K","start":"2025-01-01","tag":"NetCashProvidedByUsedInOperatingActivities","unit":"USD"}},"revenue":{"value":1243000000,"tag":"Revenues","unit":"USD","start":"2025-01-01","end":"2025-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"netIncome":{"value":454000000,"tag":"ProfitLoss","unit":"USD","start":"2025-01-01","end":"2025-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"operatingIncome":{"value":614000000,"tag":"OperatingIncomeLoss","unit":"USD","start":"2025-01-01","end":"2025-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"openingAssets":{"value":9935000000,"tag":"Assets","unit":"USD","start":null,"end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"openingCurrentLiabilities":{"value":426000000,"tag":"LiabilitiesCurrent","unit":"USD","start":null,"end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"openingCapitalEmployed":{"value":9509000000,"inputNames":["openingAssets","openingCurrentLiabilities"]},"openingParentEquity":{"value":4627000000,"tag":"StockholdersEquity","unit":"USD","start":null,"end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"openingTotalEquity":{"value":4766000000,"tag":"StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest","unit":"USD","start":null,"end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"openingCash":{"value":68000000,"tag":"CashAndCashEquivalentsAtCarryingValue","unit":"USD","start":null,"end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"openingBorrowings":{"value":null,"reason":"No supported complete debt aggregate or non-overlapping borrowing components; leases excluded"},"openingInvestedCapital":{"value":null,"inputNames":["openingBorrowings","openingTotalEquity","openingCash"],"reason":"Exact complete borrowings, consolidated equity and cash missing, ambiguous or from different filings at 2024-12-31"},"openingPreferredEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingPreferredShares":{"value":0,"tag":"PreferredStockSharesOutstanding","unit":"shares","start":null,"end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"openingCommonEquity":{"value":4627000000,"inputNames":["openingParentEquity","openingPreferredShares"]},"closingAssets":{"value":10080000000,"tag":"Assets","unit":"USD","start":null,"end":"2025-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"closingCurrentLiabilities":{"value":296000000,"tag":"LiabilitiesCurrent","unit":"USD","start":null,"end":"2025-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"closingCapitalEmployed":{"value":9784000000,"inputNames":["closingAssets","closingCurrentLiabilities"]},"closingParentEquity":{"value":4736000000,"tag":"StockholdersEquity","unit":"USD","start":null,"end":"2025-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"closingTotalEquity":{"value":4878000000,"tag":"StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest","unit":"USD","start":null,"end":"2025-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"closingCash":{"value":54000000,"tag":"CashAndCashEquivalentsAtCarryingValue","unit":"USD","start":null,"end":"2025-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"closingBorrowings":{"value":null,"reason":"No supported complete debt aggregate or non-overlapping borrowing components; leases excluded"},"closingInvestedCapital":{"value":null,"inputNames":["closingBorrowings","closingTotalEquity","closingCash"],"reason":"Exact complete borrowings, consolidated equity and cash missing, ambiguous or from different filings at 2025-12-31"},"closingPreferredEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingPreferredShares":{"value":0,"tag":"PreferredStockSharesOutstanding","unit":"shares","start":null,"end":"2025-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"closingCommonEquity":{"value":4736000000,"inputNames":["closingParentEquity","closingPreferredShares"]},"commonNetIncome":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"parentNetIncome":{"value":441000000,"tag":"NetIncomeLoss","unit":"USD","start":"2025-01-01","end":"2025-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"preferredDividends":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"incomeTaxExpense":{"value":144000000,"tag":"IncomeTaxExpenseBenefit","unit":"USD","start":"2025-01-01","end":"2025-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"pretaxIncome":{"value":598000000,"tag":"IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest","unit":"USD","start":"2025-01-01","end":"2025-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"effectiveTaxRate":{"value":0.2408026755852843,"inputNames":["incomeTaxExpense","pretaxIncome"]},"nopat":{"value":466147157.19063544,"inputNames":["operatingIncome","effectiveTaxRate"]},"averageInvestedCapital":{"value":null,"inputNames":["openingInvestedCapital","closingInvestedCapital"]},"averageCapitalEmployed":{"value":9646500000,"inputNames":["openingCapitalEmployed","closingCapitalEmployed"]},"averageCommonEquity":{"value":4681500000,"inputNames":["openingCommonEquity","closingCommonEquity"]}},"recovered":{}}; fcfMargin: 35.478680611423975; cashConversion: 97.13656387665198; roce: 6.365002850774893

fcfMargin component 1 (2026-02-19) · fcfMargin component 2 (2026-02-19) · fcfMargin component 3 (2026-02-19)
cashConversion component 1 (2026-02-19) · cashConversion component 2 (2026-02-19) · cashConversion component 3 (2026-02-19)
roce component 1 (2026-02-19) · roce component 2 (2026-02-19) · roce component 3 (2026-02-19) · roce component 4 (2026-02-19) · roce component 5 (2026-02-19)
2024-12-3142.10112.535.42
Inputs & filings

Calculation inputs: {"original":{"fcfTotal":{"value":413000000,"capex":{"accession":"0001842022-26-000003","end":"2024-12-31","filed":"2026-02-19","form":"10-K","start":"2024-01-01","tag":"PaymentsToAcquirePropertyPlantAndEquipment","unit":"USD"},"ocf":{"accession":"0001842022-26-000003","end":"2024-12-31","filed":"2026-02-19","form":"10-K","start":"2024-01-01","tag":"NetCashProvidedByUsedInOperatingActivities","unit":"USD"}},"revenue":{"value":981000000,"tag":"Revenues","unit":"USD","start":"2024-01-01","end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"netIncome":{"value":367000000,"tag":"ProfitLoss","unit":"USD","start":"2024-01-01","end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"operatingIncome":{"value":489000000,"tag":"OperatingIncomeLoss","unit":"USD","start":"2024-01-01","end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"openingAssets":{"value":8982000000,"tag":"Assets","unit":"USD","start":null,"end":"2023-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"openingCurrentLiabilities":{"value":434000000,"tag":"LiabilitiesCurrent","unit":"USD","start":null,"end":"2023-12-31","filed":"2025-02-26","accession":"0001842022-25-000003","form":"10-K"},"openingCapitalEmployed":{"value":null,"inputNames":["openingAssets","openingCurrentLiabilities"],"reason":"Exact assets/current-liabilities balance missing, conflicting or from different filings at 2023-12-31"},"openingParentEquity":{"value":4139000000,"tag":"StockholdersEquity","unit":"USD","start":null,"end":"2023-12-31","filed":"2025-02-26","accession":"0001842022-25-000003","form":"10-K"},"openingTotalEquity":{"value":4280000000,"tag":"StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest","unit":"USD","start":null,"end":"2023-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"openingCash":{"value":56000000,"tag":"CashAndCashEquivalentsAtCarryingValue","unit":"USD","start":null,"end":"2023-12-31","filed":"2025-02-26","accession":"0001842022-25-000003","form":"10-K"},"openingBorrowings":{"value":null,"reason":"No supported complete debt aggregate or non-overlapping borrowing components; leases excluded"},"openingInvestedCapital":{"value":null,"inputNames":["openingBorrowings","openingTotalEquity","openingCash"],"reason":"Exact complete borrowings, consolidated equity and cash missing, ambiguous or from different filings at 2023-12-31"},"openingPreferredEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingPreferredShares":{"value":0,"tag":"PreferredStockSharesOutstanding","unit":"shares","start":null,"end":"2023-12-31","filed":"2025-02-26","accession":"0001842022-25-000003","form":"10-K"},"openingCommonEquity":{"value":4139000000,"inputNames":["openingParentEquity","openingPreferredShares"]},"closingAssets":{"value":9935000000,"tag":"Assets","unit":"USD","start":null,"end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"closingCurrentLiabilities":{"value":426000000,"tag":"LiabilitiesCurrent","unit":"USD","start":null,"end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"closingCapitalEmployed":{"value":9509000000,"inputNames":["closingAssets","closingCurrentLiabilities"]},"closingParentEquity":{"value":4627000000,"tag":"StockholdersEquity","unit":"USD","start":null,"end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"closingTotalEquity":{"value":4766000000,"tag":"StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest","unit":"USD","start":null,"end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"closingCash":{"value":68000000,"tag":"CashAndCashEquivalentsAtCarryingValue","unit":"USD","start":null,"end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"closingBorrowings":{"value":null,"reason":"No supported complete debt aggregate or non-overlapping borrowing components; leases excluded"},"closingInvestedCapital":{"value":null,"inputNames":["closingBorrowings","closingTotalEquity","closingCash"],"reason":"Exact complete borrowings, consolidated equity and cash missing, ambiguous or from different filings at 2024-12-31"},"closingPreferredEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingPreferredShares":{"value":0,"tag":"PreferredStockSharesOutstanding","unit":"shares","start":null,"end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"closingCommonEquity":{"value":4627000000,"inputNames":["closingParentEquity","closingPreferredShares"]},"commonNetIncome":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"parentNetIncome":{"value":354000000,"tag":"NetIncomeLoss","unit":"USD","start":"2024-01-01","end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"preferredDividends":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"incomeTaxExpense":{"value":137000000,"tag":"IncomeTaxExpenseBenefit","unit":"USD","start":"2024-01-01","end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"pretaxIncome":{"value":504000000,"tag":"IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest","unit":"USD","start":"2024-01-01","end":"2024-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"effectiveTaxRate":{"value":0.2718253968253968,"inputNames":["incomeTaxExpense","pretaxIncome"]},"nopat":{"value":356077380.952381,"inputNames":["operatingIncome","effectiveTaxRate"]},"averageInvestedCapital":{"value":null,"inputNames":["openingInvestedCapital","closingInvestedCapital"]},"averageCapitalEmployed":{"value":null,"inputNames":["openingCapitalEmployed","closingCapitalEmployed"]},"averageCommonEquity":{"value":4383000000,"inputNames":["openingCommonEquity","closingCommonEquity"]}},"recovered":{"roce":{"operatingIncome":{"value":489000000,"tag":"OperatingIncomeLoss","unit":"USD","start":"2024-01-01","end":"2024-12-31","filed":"2025-02-26","accession":"0001842022-25-000003","form":"10-K"},"averageCapitalEmployed":{"value":9028500000,"inputNames":["openingCapitalEmployed","closingCapitalEmployed"]},"openingCapitalEmployed":{"value":8548000000,"inputNames":["openingAssets","openingCurrentLiabilities"]},"openingAssets":{"value":8982000000,"tag":"Assets","unit":"USD","start":null,"end":"2023-12-31","filed":"2025-02-26","accession":"0001842022-25-000003","form":"10-K"},"openingCurrentLiabilities":{"value":434000000,"tag":"LiabilitiesCurrent","unit":"USD","start":null,"end":"2023-12-31","filed":"2025-02-26","accession":"0001842022-25-000003","form":"10-K"},"closingCapitalEmployed":{"value":9509000000,"inputNames":["closingAssets","closingCurrentLiabilities"]},"closingAssets":{"value":9935000000,"tag":"Assets","unit":"USD","start":null,"end":"2024-12-31","filed":"2025-02-26","accession":"0001842022-25-000003","form":"10-K"},"closingCurrentLiabilities":{"value":426000000,"tag":"LiabilitiesCurrent","unit":"USD","start":null,"end":"2024-12-31","filed":"2025-02-26","accession":"0001842022-25-000003","form":"10-K"}}}}; fcfMargin: 42.09989806320081; cashConversion: 112.5340599455041; roce: 5.4161820900481805

fcfMargin component 1 (2026-02-19) · fcfMargin component 2 (2026-02-19) · fcfMargin component 3 (2026-02-19)
cashConversion component 1 (2026-02-19) · cashConversion component 2 (2026-02-19) · cashConversion component 3 (2026-02-19)
roce component 1 (2025-02-26) · roce component 2 (2025-02-26) · roce component 3 (2025-02-26) · roce component 4 (2025-02-26) · roce component 5 (2025-02-26)
2023-12-312.826.575.62
Inputs & filings

Calculation inputs: {"original":{"fcfTotal":{"value":26000000,"capex":{"accession":"0001842022-26-000003","end":"2023-12-31","filed":"2026-02-19","form":"10-K","start":"2023-01-01","tag":"PaymentsToAcquirePropertyPlantAndEquipment","unit":"USD"},"ocf":{"accession":"0001842022-26-000003","end":"2023-12-31","filed":"2026-02-19","form":"10-K","start":"2023-01-01","tag":"NetCashProvidedByUsedInOperatingActivities","unit":"USD"}},"revenue":{"value":922000000,"tag":"Revenues","unit":"USD","start":"2023-01-01","end":"2023-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"netIncome":{"value":396000000,"tag":"ProfitLoss","unit":"USD","start":"2023-01-01","end":"2023-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"operatingIncome":{"value":471000000,"tag":"OperatingIncomeLoss","unit":"USD","start":"2023-01-01","end":"2023-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"openingAssets":{"value":8833000000,"tag":"Assets","unit":"USD","start":null,"end":"2022-12-31","filed":"2025-02-26","accession":"0001842022-25-000003","form":"10-K"},"openingCurrentLiabilities":{"value":614000000,"tag":"LiabilitiesCurrent","unit":"USD","start":null,"end":"2022-12-31","filed":"2024-02-16","accession":"0001842022-24-000003","form":"10-K"},"openingCapitalEmployed":{"value":null,"inputNames":["openingAssets","openingCurrentLiabilities"],"reason":"Exact assets/current-liabilities balance missing, conflicting or from different filings at 2022-12-31"},"openingParentEquity":{"value":4007000000,"tag":"StockholdersEquity","unit":"USD","start":null,"end":"2022-12-31","filed":"2024-02-16","accession":"0001842022-24-000003","form":"10-K"},"openingTotalEquity":{"value":4154000000,"tag":"StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest","unit":"USD","start":null,"end":"2022-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"openingCash":{"value":61000000,"tag":"CashAndCashEquivalentsAtCarryingValue","unit":"USD","start":null,"end":"2022-12-31","filed":"2024-02-16","accession":"0001842022-24-000003","form":"10-K"},"openingBorrowings":{"value":null,"reason":"Borrowing components do not come from the same filing"},"openingInvestedCapital":{"value":null,"inputNames":["openingBorrowings","openingTotalEquity","openingCash"],"reason":"Exact complete borrowings, consolidated equity and cash missing, ambiguous or from different filings at 2022-12-31"},"openingPreferredEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingPreferredShares":{"value":0,"tag":"PreferredStockSharesOutstanding","unit":"shares","start":null,"end":"2022-12-31","filed":"2024-02-16","accession":"0001842022-24-000003","form":"10-K"},"openingCommonEquity":{"value":4007000000,"inputNames":["openingParentEquity","openingPreferredShares"]},"closingAssets":{"value":8982000000,"tag":"Assets","unit":"USD","start":null,"end":"2023-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"closingCurrentLiabilities":{"value":434000000,"tag":"LiabilitiesCurrent","unit":"USD","start":null,"end":"2023-12-31","filed":"2025-02-26","accession":"0001842022-25-000003","form":"10-K"},"closingCapitalEmployed":{"value":null,"inputNames":["closingAssets","closingCurrentLiabilities"],"reason":"Exact assets/current-liabilities balance missing, conflicting or from different filings at 2023-12-31"},"closingParentEquity":{"value":4139000000,"tag":"StockholdersEquity","unit":"USD","start":null,"end":"2023-12-31","filed":"2025-02-26","accession":"0001842022-25-000003","form":"10-K"},"closingTotalEquity":{"value":4280000000,"tag":"StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest","unit":"USD","start":null,"end":"2023-12-31","filed":"2026-02-19","accession":"0001842022-26-000003","form":"10-K"},"closingCash":{"value":56000000,"tag":"CashAndCashEquivalentsAtCarryingValue","unit":"USD","start":null,"end":"2023-12-31","filed":"2025-02-26","accession":"0001842022-25-000003","form":"10-K"},"closingBorrowings":{"value":null,"reason":"No supported complete debt aggregate or non-overlapping borrowing components; 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fcfMargin: 2.8199566160520604; cashConversion: 6.565656565656567; roce: 5.618178565038468

fcfMargin component 1 (2026-02-19) · fcfMargin component 2 (2026-02-19) · fcfMargin component 3 (2026-02-19)
cashConversion component 1 (2026-02-19) · cashConversion component 2 (2026-02-19) · cashConversion component 3 (2026-02-19)
roce component 1 (2024-02-16) · roce component 2 (2024-02-16) · roce component 3 (2024-02-16) · roce component 4 (2024-02-16) · roce component 5 (2024-02-16)
2022-12-3142.07101.315.90
Inputs & filings

Calculation inputs: 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fcfMargin: 42.06521739130435; cashConversion: 101.30890052356021; roce: 5.898321816386969

fcfMargin component 1 (2025-02-26) · fcfMargin component 2 (2025-02-26) · fcfMargin component 3 (2025-02-26)
cashConversion component 1 (2025-02-26) · cashConversion component 2 (2025-02-26) · cashConversion component 3 (2025-02-26)
roce component 1 (2023-02-16) · roce component 2 (2023-02-16) · roce component 3 (2023-02-16) · roce component 4 (2023-02-16) · roce component 5 (2023-02-16)
2021-12-3151.43135.856.16
Inputs & filings

Calculation inputs: 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fcfMargin: 51.42857142857142; cashConversion: 135.8490566037736; roce: 6.164226021620793

fcfMargin component 1 (2024-02-16) · fcfMargin component 2 (2024-02-16) · fcfMargin component 3 (2024-02-16)
cashConversion component 1 (2024-02-16) · cashConversion component 2 (2024-02-16) · cashConversion component 3 (2024-02-16)
roce component 1 (2022-02-25) · roce component 2 (2022-02-25) · roce component 3 (2022-02-25) · roce component 4 (2022-02-25) · roce component 5 (2022-02-25)
2020-12-3110.4824.38Unavailable
Inputs & filings

Calculation inputs: {"original":{"fcfTotal":{"value":79000000,"capex":{"accession":"0001842022-23-000006","end":"2020-12-31","filed":"2023-02-16","form":"10-K","start":"2020-01-01","tag":"PaymentsToAcquirePropertyPlantAndEquipment","unit":"USD"},"ocf":{"accession":"0001842022-23-000006","end":"2020-12-31","filed":"2023-02-16","form":"10-K","start":"2020-01-01","tag":"NetCashProvidedByUsedInOperatingActivities","unit":"USD"}},"revenue":{"value":754000000,"tag":"Revenues","unit":"USD","start":"2020-01-01","end":"2020-12-31","filed":"2023-02-16","accession":"0001842022-23-000006","form":"10-K"},"netIncome":{"value":324000000,"tag":"ProfitLoss","unit":"USD","start":"2020-01-01","end":"2020-12-31","filed":"2023-02-16","accession":"0001842022-23-000006","form":"10-K"},"operatingIncome":{"value":414000000,"tag":"OperatingIncomeLoss","unit":"USD","start":"2020-01-01","end":"2020-12-31","filed":"2023-02-16","accession":"0001842022-23-000006","form":"10-K"},"openingAssets":{"value":7787000000,"tag":"Assets","unit":"USD","start":null,"end":"2019-12-31","filed":"2022-02-25","accession":"0001842022-22-000006","form":"10-K"},"openingCurrentLiabilities":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingCapitalEmployed":{"value":null,"inputNames":["openingAssets","openingCurrentLiabilities"],"reason":"Exact assets/current-liabilities balance missing, conflicting or from different filings at 2019-12-31"},"openingParentEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingTotalEquity":{"value":3724000000,"tag":"StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest","unit":"USD","start":null,"end":"2019-12-31","filed":"2023-02-16","accession":"0001842022-23-000006","form":"10-K"},"openingCash":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingBorrowings":{"value":null,"reason":"No supported complete debt aggregate or non-overlapping borrowing components; leases excluded"},"openingInvestedCapital":{"value":null,"inputNames":["openingBorrowings","openingTotalEquity","openingCash"],"reason":"Exact complete borrowings, consolidated equity and cash missing, ambiguous or from different filings at 2019-12-31"},"openingPreferredEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingPreferredShares":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingCommonEquity":{"value":null,"inputNames":["openingParentEquity","openingPreferredShares"],"reason":"Common equity scope requires explicit preferred carrying value or zero preferred shares; absence is not zero"},"closingAssets":{"value":8342000000,"tag":"Assets","unit":"USD","start":null,"end":"2020-12-31","filed":"2023-02-16","accession":"0001842022-23-000006","form":"10-K"},"closingCurrentLiabilities":{"value":3288000000,"tag":"LiabilitiesCurrent","unit":"USD","start":null,"end":"2020-12-31","filed":"2022-02-25","accession":"0001842022-22-000006","form":"10-K"},"closingCapitalEmployed":{"value":null,"inputNames":["closingAssets","closingCurrentLiabilities"],"reason":"Exact assets/current-liabilities balance missing, conflicting or from different filings at 2020-12-31"},"closingParentEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingTotalEquity":{"value":4228000000,"tag":"StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest","unit":"USD","start":null,"end":"2020-12-31","filed":"2024-02-16","accession":"0001842022-24-000003","form":"10-K"},"closingCash":{"value":42000000,"tag":"CashAndCashEquivalentsAtCarryingValue","unit":"USD","start":null,"end":"2020-12-31","filed":"2022-02-25","accession":"0001842022-22-000006","form":"10-K"},"closingBorrowings":{"value":null,"reason":"No supported complete debt aggregate or non-overlapping borrowing components; leases excluded"},"closingInvestedCapital":{"value":null,"inputNames":["closingBorrowings","closingTotalEquity","closingCash"],"reason":"Exact complete borrowings, consolidated equity and cash missing, ambiguous or from different filings at 2020-12-31"},"closingPreferredEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingPreferredShares":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingCommonEquity":{"value":null,"inputNames":["closingParentEquity","closingPreferredShares"],"reason":"Common equity scope requires explicit preferred carrying value or zero preferred shares; absence is not zero"},"commonNetIncome":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"parentNetIncome":{"value":312000000,"tag":"NetIncomeLoss","unit":"USD","start":"2020-01-01","end":"2020-12-31","filed":"2023-02-16","accession":"0001842022-23-000006","form":"10-K"},"preferredDividends":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"incomeTaxExpense":{"value":116000000,"tag":"IncomeTaxExpenseBenefit","unit":"USD","start":"2020-01-01","end":"2020-12-31","filed":"2023-02-16","accession":"0001842022-23-000006","form":"10-K"},"pretaxIncome":{"value":440000000,"tag":"IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest","unit":"USD","start":"2020-01-01","end":"2020-12-31","filed":"2023-02-16","accession":"0001842022-23-000006","form":"10-K"},"effectiveTaxRate":{"value":0.2636363636363636,"inputNames":["incomeTaxExpense","pretaxIncome"]},"nopat":{"value":304854545.45454544,"inputNames":["operatingIncome","effectiveTaxRate"]},"averageInvestedCapital":{"value":null,"inputNames":["openingInvestedCapital","closingInvestedCapital"]},"averageCapitalEmployed":{"value":null,"inputNames":["openingCapitalEmployed","closingCapitalEmployed"]},"averageCommonEquity":{"value":null,"inputNames":["openingCommonEquity","closingCommonEquity"]}},"recovered":{}}; fcfMargin: 10.477453580901857; cashConversion: 24.382716049382715; roce: matching numerator and positive exact opening/closing CapitalEmployed required; ambiguous scopes remain unavailable; unavailable: openingCapitalEmployed, closingCapitalEmployed; Exact assets/current-liabilities balance missing, conflicting or from different filings at 2019-12-31; Exact assets/current-liabilities balance missing, conflicting or from different filings at 2020-12-31

fcfMargin component 1 (2023-02-16) · fcfMargin component 2 (2023-02-16) · fcfMargin component 3 (2023-02-16)
cashConversion component 1 (2023-02-16) · cashConversion component 2 (2023-02-16) · cashConversion component 3 (2023-02-16)
roce component 1 (2023-02-16) · roce component 2 (2022-02-25) · roce component 3 (2023-02-16) · roce component 4 (2022-02-25)
2019-12-3135.5281.36Unavailable
Inputs & filings

Calculation inputs: {"original":{"fcfTotal":{"value":179000000,"capex":{"accession":"0001842022-22-000006","end":"2019-12-31","filed":"2022-02-25","form":"10-K","start":"2019-01-01","tag":"PaymentsToAcquirePropertyPlantAndEquipment","unit":"USD"},"ocf":{"accession":"0001842022-22-000006","end":"2019-12-31","filed":"2022-02-25","form":"10-K","start":"2019-01-01","tag":"NetCashProvidedByUsedInOperatingActivities","unit":"USD"}},"revenue":{"value":504000000,"tag":"Revenues","unit":"USD","start":"2019-01-01","end":"2019-12-31","filed":"2022-02-25","accession":"0001842022-22-000006","form":"10-K"},"netIncome":{"value":220000000,"tag":"ProfitLoss","unit":"USD","start":"2019-01-01","end":"2019-12-31","filed":"2022-02-25","accession":"0001842022-22-000006","form":"10-K"},"operatingIncome":{"value":261000000,"tag":"OperatingIncomeLoss","unit":"USD","start":"2019-01-01","end":"2019-12-31","filed":"2022-02-25","accession":"0001842022-22-000006","form":"10-K"},"openingAssets":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingCurrentLiabilities":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingCapitalEmployed":{"value":null,"inputNames":["openingAssets","openingCurrentLiabilities"],"reason":"Exact assets/current-liabilities balance missing, conflicting or from different filings at 2018-12-31"},"openingParentEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingTotalEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingNoncontrollingEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingLiabilities":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingCash":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingBorrowings":{"value":null,"reason":"No supported complete debt aggregate or non-overlapping borrowing components; leases excluded"},"openingInvestedCapital":{"value":null,"inputNames":["openingBorrowings","openingTotalEquity","openingCash"],"reason":"Exact complete borrowings, consolidated equity and cash missing, ambiguous or from different filings at 2018-12-31"},"openingPreferredEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingPreferredShares":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingCommonEquity":{"value":null,"inputNames":["openingParentEquity","openingPreferredShares"],"reason":"Common equity scope requires explicit preferred carrying value or zero preferred shares; absence is not zero"},"closingAssets":{"value":7787000000,"tag":"Assets","unit":"USD","start":null,"end":"2019-12-31","filed":"2022-02-25","accession":"0001842022-22-000006","form":"10-K"},"closingCurrentLiabilities":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingCapitalEmployed":{"value":null,"inputNames":["closingAssets","closingCurrentLiabilities"],"reason":"Exact assets/current-liabilities balance missing, conflicting or from different filings at 2019-12-31"},"closingParentEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingTotalEquity":{"value":3724000000,"tag":"StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest","unit":"USD","start":null,"end":"2019-12-31","filed":"2023-02-16","accession":"0001842022-23-000006","form":"10-K"},"closingCash":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingBorrowings":{"value":null,"reason":"No supported complete debt aggregate or non-overlapping borrowing components; leases excluded"},"closingInvestedCapital":{"value":null,"inputNames":["closingBorrowings","closingTotalEquity","closingCash"],"reason":"Exact complete borrowings, consolidated equity and cash missing, ambiguous or from different filings at 2019-12-31"},"closingPreferredEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingPreferredShares":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingCommonEquity":{"value":null,"inputNames":["closingParentEquity","closingPreferredShares"],"reason":"Common equity scope requires explicit preferred carrying value or zero preferred shares; absence is not zero"},"commonNetIncome":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"parentNetIncome":{"value":204000000,"tag":"NetIncomeLoss","unit":"USD","start":"2019-01-01","end":"2019-12-31","filed":"2022-02-25","accession":"0001842022-22-000006","form":"10-K"},"preferredDividends":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"incomeTaxExpense":{"value":72000000,"tag":"IncomeTaxExpenseBenefit","unit":"USD","start":"2019-01-01","end":"2019-12-31","filed":"2022-02-25","accession":"0001842022-22-000006","form":"10-K"},"pretaxIncome":{"value":292000000,"tag":"IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest","unit":"USD","start":"2019-01-01","end":"2019-12-31","filed":"2022-02-25","accession":"0001842022-22-000006","form":"10-K"},"effectiveTaxRate":{"value":0.2465753424657534,"inputNames":["incomeTaxExpense","pretaxIncome"]},"nopat":{"value":196643835.61643836,"inputNames":["operatingIncome","effectiveTaxRate"]},"averageInvestedCapital":{"value":null,"inputNames":["openingInvestedCapital","closingInvestedCapital"]},"averageCapitalEmployed":{"value":null,"inputNames":["openingCapitalEmployed","closingCapitalEmployed"]},"averageCommonEquity":{"value":null,"inputNames":["openingCommonEquity","closingCommonEquity"]}},"recovered":{}}; fcfMargin: 35.51587301587302; cashConversion: 81.36363636363636; roce: matching numerator and positive exact opening/closing CapitalEmployed required; ambiguous scopes remain unavailable; unavailable: openingCapitalEmployed, closingCapitalEmployed; Exact assets/current-liabilities balance missing, conflicting or from different filings at 2018-12-31; Exact assets/current-liabilities balance missing, conflicting or from different filings at 2019-12-31

fcfMargin component 1 (2022-02-25) · fcfMargin component 2 (2022-02-25) · fcfMargin component 3 (2022-02-25)
cashConversion component 1 (2022-02-25) · cashConversion component 2 (2022-02-25) · cashConversion component 3 (2022-02-25)
roce component 1 (2022-02-25) · roce component 2 (2022-02-25)

Annual operating facts

Complete annual history, independent of chart loading and range. Operating margin is operating profit as a percentage of revenue; net margin is consolidated net profit as a percentage of revenue. Negative margins show losses. Missing inputs remain unavailable. Metric definitions.

Fiscal endRevenue (USD)Operating margin (%)Net margin (%)Inputs & filing sources
2025-12-311,243,000,000.0049.4036.52
Inputs & filings

revenue: 1243000000; operatingIncome: 614000000; netIncome: 454000000

revenue (2026-02-19)
operatingIncome (2026-02-19)
netIncome (2026-02-19)
2024-12-31981,000,000.0049.8537.41
Inputs & filings

revenue: 981000000; operatingIncome: 489000000; netIncome: 367000000

revenue (2026-02-19)
operatingIncome (2026-02-19)
netIncome (2026-02-19)
2023-12-31922,000,000.0051.0842.95
Inputs & filings

revenue: 922000000; operatingIncome: 471000000; netIncome: 396000000

revenue (2026-02-19)
operatingIncome (2026-02-19)
netIncome (2026-02-19)
2022-12-31920,000,000.0051.9641.52
Inputs & filings

revenue: 920000000; operatingIncome: 478000000; netIncome: 382000000

revenue (2025-02-26)
operatingIncome (2025-02-26)
netIncome (2025-02-26)
2021-12-31840,000,000.0047.8637.86
Inputs & filings

revenue: 840000000; operatingIncome: 402000000; netIncome: 318000000

revenue (2024-02-16)
operatingIncome (2024-02-16)
netIncome (2024-02-16)
2020-12-31754,000,000.0054.9142.97
Inputs & filings

revenue: 754000000; operatingIncome: 414000000; netIncome: 324000000

revenue (2023-02-16)
operatingIncome (2023-02-16)
netIncome (2023-02-16)
2019-12-31504,000,000.0051.7943.65
Inputs & filings

revenue: 504000000; operatingIncome: 261000000; netIncome: 220000000

revenue (2022-02-25)
operatingIncome (2022-02-25)
netIncome (2022-02-25)

DT Midstream, Inc. (DTM) P/E ratio history

The interactive P/E chart contains all 276 stored weekly price points (2021-07-02–2026-10-08); 276 have an eligible basic or diluted ratio. Annual EPS is carried forward from its fiscal end. Use the P/E range bar or any other chart range bar to change all five chart windows.

Fiscal-year-end snapshots

5 eligible fiscal-year-end observations span 2021-12-31–2025-12-31. Latest eligible diluted P/E: 28.02×; basic P/E: 27.76×, for fiscal end 2025-12-31, using the close on 2025-12-26.

Annual P/E = eligible fiscal-year-end close ÷ reported annual EPS. This is retrospective annual P/E, not TTM or forward P/E. Why we use annual data. Missing or non-positive EPS and missing eligible prices produce unavailable ratios.

Explore the P/E chart and optional reference lines · How P/E history is calculated.

Complete annual P/E history (7 fiscal periods)
Full stored fiscal-year-end P/E history, independent of the selected chart window. Ratios in ×; prices in USD.
Fiscal endPrice dateClosePrice basisBasic P/EDiluted P/EEPS filings
2025-12-312025-12-26120.48Adjusted close27.7628.02Basic EPS (2026-02-19) Diluted EPS (2026-02-19)
2024-12-312024-12-2799.99Adjusted close27.5527.78Basic EPS (2026-02-19) Diluted EPS (2026-02-19)
2023-12-312023-12-2954.80Adjusted close13.8013.91Basic EPS (2026-02-19) Diluted EPS (2026-02-19)
2022-12-312022-12-3055.26Adjusted close14.4314.50Basic EPS (2025-02-26) Diluted EPS (2025-02-26)
2021-12-312021-12-3145.77Adjusted close14.4414.48Basic EPS (2024-02-16) Diluted EPS (2024-02-16)
2020-12-31UnavailableUnavailableUnavailableUnavailableUnavailableBasic EPS (2023-02-16) Diluted EPS (2023-02-16)
2019-12-31UnavailableUnavailableUnavailableUnavailableUnavailableBasic EPS (2022-02-25) Diluted EPS (2022-02-25)

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