DTE Energy Company 5.25 % Debentures 2017-01.12.77 Global (DTW) 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

-258.9%

-$215.46

vs $135.61 price

Levered DCF

-$280.41

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

592.18

Safe 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	18.27×	17.81×	16.29×	21.25×	25.54×	14.57×	17.48×	15.19×
P/B	2.17×	2.14×	2.06×	2.2×	2.65×	1.6×	1.75×	1.66×
P/S	1.69×	2.01×	1.78×	1.19×	1.54×	1.75×	1.68×	1.2×
EV / EBITDA	13.38×	11.74×	10.85×	12.94×	15.04×	12.5×	13.35×	10.75×
Gross margin	84.9%	34.8%	34.0%	19.1%	22.3%	28.7%	24.8%	22.2%
Operating margin	15.0%	16.8%	17.6%	9.1%	10.0%	13.6%	11.8%	11.2%
Net margin	9.2%	11.2%	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	2.25×	2.2×	2.84×	2.59×	2.37×	2.59×	2.52×	2.85×
Dividend yield	3.3%	3.2%	3.3%	3.0%	3.4%	3.8%	3.4%	3.6%
Payout ratio	59.6%	57.8%	53.8%	63.3%	87.2%	55.6%	59.2%	55.4%

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	4.4%	4.5%	4.7%	4.3%	4.0%	3.5%	3.3%	4.3%
Return on assets	2.7%	2.9%	3.1%	2.5%	2.3%	3.0%	2.8%	3.1%
Free cash flow yield	-3.8%	-3.3%	-3.1%	-6.1%	-3.1%	-0.8%	-1.7%	-0.2%
Earnings yield	5.5%	5.6%	6.2%	4.7%	3.9%	6.9%	5.7%	6.6%
Enterprise value	$53B	$48.2B	$43.7B	$42.1B	$41.3B	$39.1B	$38B	$31.2B
Net debt / EBITDA	6.64×	5.65×	5.21×	5.9×	6.64×	6.12×	6.16×	4.89×
Cash conversion cycle (days)	-8	47	38	26	27	40	44	32