DTE Energy Company 2021 Series (DTG) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-1452.8%

-$204.13

vs $15.09 price

Levered DCF

-$303.67

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.55

Distress zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	2.43×	2.71×	3.09×	3.15×	5.61×	3.5×	3.93×	4.01×
P/B	0.29×	0.32×	0.39×	0.33×	0.58×	0.39×	0.39×	0.44×
P/S	0.23×	0.3×	0.34×	0.18×	0.34×	0.42×	0.38×	0.32×
EV / EBITDA	6.61×	6.56×	6.45×	6.95×	7.91×	8.33×	8.1×	6.34×
Gross margin	16.9%	81.8%	34.0%	19.1%	22.3%	28.7%	24.8%	14.8%
Operating margin	13.4%	16.8%	17.6%	9.1%	10.0%	13.6%	11.8%	12.0%
Net margin	9.6%	11.3%	11.0%	5.6%	6.1%	12.0%	9.6%	7.9%
Current ratio	0.8×	0.71×	0.6×	0.81×	0.52×	1.3×	0.77×	0.73×
Debt / equity	2.16×	1.99×	1.9×	1.85×	2.1×	1.58×	1.51×	1.39×
Interest coverage	1.94×	2.2×	2.63×	2.44×	2.23×	2.44×	2.1×	3.11×
Dividend yield	24.5%	21.3%	17.4%	20.1%	15.6%	15.9%	15.1%	13.8%
Payout ratio	59.6%	57.7%	53.8%	63.3%	87.2%	55.6%	59.2%	55.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.9%	12.0%	12.6%	10.4%	10.4%	11.0%	10.0%	10.9%
Return on invested capital	3.8%	4.5%	4.7%	4.3%	4.0%	3.5%	3.3%	4.6%
Return on assets	2.7%	2.9%	3.1%	2.5%	2.3%	3.0%	2.8%	3.1%
Free cash flow yield	-28.2%	-20.9%	-16.0%	-40.7%	-13.5%	-2.8%	-7.4%	-0.5%
Earnings yield	41.1%	37.0%	32.4%	31.8%	17.9%	28.6%	25.5%	24.9%
Enterprise value	$29.8B	$26.9B	$25.3B	$22.6B	$23.3B	$23.9B	$22.1B	$18.7B
Net debt / EBITDA	5.82×	5.64×	5.35×	5.9×	6.18×	6.66×	6.42×	4.81×
Cash conversion cycle (days)	40	31	33	26	27	40	44	33