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DT Midstream, Inc.

DT Midstream, Inc.

NYSE•DTM
CEO: Mr. Robert C. Skaggs Jr.
Sector: Energy
Industry: Oil & Gas Midstream
Listing Date: 2021-07-01
DT Midstream, Inc., together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines. This segment also engages in the transportation and storage of natural gas for intermediate and end-user customers. The Gathering segment owns and operates gas gathering systems. This segment is involved in the collection of natural gas for delivery to plants for treating, to gathering pipelines for further gathering, or to pipelines for transportation; and provision of associated ancillary services, including compression, dehydration, gas treatment, water impoundment, water transportation, water disposal, and sand mining. It serves natural gas producers, local distribution companies, electric power generators, industrials, and national marketers. The company was incorporated in 2021 and is headquartered in Detroit, Michigan.
Contact Information
500 Woodward Avenue, Suite 2900, Detroit, MI, 48226-1279, United States
313-402-8532
www.dtmidstream.com
Market Cap
$12.44B
P/E (TTM)
30.8
19.7
Dividend Yield
2.7%
52W High
$122.70
52W Low
$83.30
52W Range
99%
Rank34Top 27.8%
4.7
F-Score
Modified Piotroski Analysis
Based on 7-year fundamentals
Average • 4.7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2019-2025

Financial Dashboard

Q3 2025 Data

Revenue

$314.00M+26.61%
4-Quarter Trend

EPS

$1.13+24.18%
4-Quarter Trend

FCF

$146.00M+17.74%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue Surges Post-Acquisition Operating revenues reached $926M for nine months, up 26.5% from $732M, driven by Midwest Pipeline assets integration.
Net Income Growth Strong Net income attributable to DT Midstream totaled $330M for nine months, marking a 17.4% increase over $281M last year.
Operating Cash Flow Increased Cash flow from operating activities was $706M for nine months, showing a $95M improvement compared to $611M previously.
Quarterly Dividend Rises Quarterly dividend increased to $0.82 per share for September 2025 period, up from $0.735 per share paid in 2024.

Risk Factors

Goodwill Impairment Potential Goodwill valuation depends on projections; downward revision of expected cash flows could require write-downs impacting future earnings.
Regulatory Rate Case Uncertainty FERC regulated assets face rate case outcomes; future regulatory changes could affect recovery of recorded regulatory assets/liabilities.
Key Customer Revenue Dependency Loss or volume reduction from key customer Expand Energy could materially decrease demand for services and affect operations.
Cyber Security Infrastructure Risk Effectiveness of IT/OT systems against evolving cyber attacks on critical infrastructure remains a key operational uncertainty.

Outlook

Disciplined Capital Deployment Strategy focuses on disciplined capital deployment, targeting $445M to $485M in total capital expenditures for the full 2025 year.
Pipeline Asset Expansion Focus Pursuing growth via expansion on DTM Interstate assets, including LEAP, Stonewall, and Washington 10 Storage Complex contracts.
Net Zero Carbon Goal Executing plan to achieve net zero carbon emissions by 2050, emphasizing environmental stewardship through GHG reducing technologies.
Strong Liquidity Position Maintained Liquidity remains strong with $1.1B available as of September 30, 2025, supporting debt servicing and capital needs.

Peer Comparison

Revenue (TTM)

YPF Sociedad AnónimaYPF
$18.93B
+42.1%
Ovintiv Inc.OVV
$8.90B
-12.1%
Antero Resources CorporationAR
$4.92B
+20.7%

Gross Margin (Latest Quarter)

DT Midstream, Inc.DTM
73.2%
+20.0pp
National Fuel Gas CompanyNFG
70.6%
+31.9pp
Antero Midstream CorporationAM
64.8%
+0.2pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
YPF$14.29B-38.9-4.0%38.0%
VNOM$12.93B24.17.9%19.1%
DTM$12.44B30.88.6%33.5%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
8.0%
Steady Growth
4Q Net Income CAGR
16.4%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 25, 2026
|
EPS:$1.13
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 30, 2025|
    Revenue: $314.00M+26.6%
    |
    EPS: $1.13+24.2%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 31, 2025|
    Revenue: $309.00M+26.6%
    |
    EPS: $1.05+6.1%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 30, 2025|
    Revenue: $303.00M+26.3%
    |
    EPS: $1.07+7.0%
    Meet

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 26, 2025|
    Revenue: $981.00M+6.4%
    |
    EPS: $3.63-8.3%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 29, 2024|
    Revenue: $248.00M+6.0%
    |
    EPS: $0.91-3.2%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 30, 2024|
    Revenue: $244.00M+8.9%
    |
    EPS: $0.99+5.3%
    Beat

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 30, 2024|
    Revenue: $240.00M+9.1%
    |
    EPS: $1.00+19.0%
    Beat

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 16, 2024|
    Revenue: $922.00M+0.2%
    |
    EPS: $3.96+3.4%
    Beat