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NYSE · NATURAL GAS TRANSMISSION · LARGE CAP

DT Midstream, Inc. DTM

7 fiscal years on record · USD · FY2025 reported · SEC filings only
4 YEARS OF DIVIDEND GROWTH
$1.2B
▲ 26.7% YoY
$441.0M
▲ 24.6% YoY
$441.0M
▲ 6.8% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

DT Midstream owns, operates, and develops an integrated portfolio of natural gas midstream assets, providing integrated natural gas services to customers through interstate pipelines, intrastate pipelines, storage systems, gathering lateral pipelines and compression and surface facilities, and gathering systems including related treatment plants and compression and surface facilities. Expand Energy accounted for approximately 45% of DT Midstream's operating revenues for the year ended December 31, 2025. DT Midstream sets strategic goals, allocates resources, and evaluates performance based on two segments, Pipeline and Gathering. The Pipeline segment includes DT Midstream's interstate pipelines, intrastate pipelines, storage systems, gathering lateral pipelines and compression and surface facilities, together with joint venture interests in equity method investees that own and operate interstate pipelines connecting to its wholly owned assets. The Gathering segment includes gathering systems, related treatment plants, and compression and surface facilities, with subsidiary companies operating these assets across multiple states and gathering systems that collect natural gas from points at or near customers' wells for delivery to treating plants, other gathering pipelines, or transportation pipelines. DT Midstream was incorporated in the state of Delaware in 2021.

Written from the business description in DT Midstream, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 19 February 2026. Every sentence was checked against that document before publication.

Growth

USD 1.2B
Revenue, FY2025 · full 7-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.2 · Net income 0.4
0.5B1.0B
201920222025
Compound annual growth
+10.6%
+10.5%
+6.0%
+7.2%
+4.1%
+5.9%
+8.6%
+9.5%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +10.5% a year over the five years to FY2025 — but profit grew slower: net income at +7.2%, earnings per share at +5.9%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

37 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 49.4% · Net 36.5%
20%40%
201920222025
ROE
FY2025 · ROE 9.4%
5%
201920222025
Three returns, three denominators.

Each USD of equity produced 9 cents of profit this year.

Cash & shareholders

USD 324.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 441.0
200M400M
201920222025
Net buybacks $M Dividends $M
FY2025 · Dividends 324.0 · Net buybacks ·
150M300M
2019202020212022202320242025

USD 324.0M in dividends — 73% of the year's profit went back to shareholders.

Total assetsUSD 10.1B
EquityUSD 4.7B
CashUSD 54.0M
Gross debtUSD 3.3B
Net debtUSD 3.3B
Current ratio1.07×

Net debt stands at 69% of equity.

The 7-year record

7 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
DTM, 7-year financial record
Metric 2025202420232022202120202019
Revenue $B1.21.00.90.90.80.80.5
Operating income $B0.60.50.50.50.40.40.3
EBITDA $B◌◌◌◌◌◌◌
Income tax $B0.10.10.10.10.10.10.1
Net income $B0.40.40.40.40.30.30.2
Free cash flow $B0.40.40.00.40.40.10.2
EPS, diluted $4.303.603.943.813.163.232.11
Dividend / sh $3.282.942.762.561.20◌◌
Payout %737968661900
ROE %9.48.19.49.47.67.85.5
Shares out B0.100.100.100.100.10◌◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

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Provenance

Company facts, as filed

How we verify · 0 failures in 26 reconciliationsAUDITED

Reconciled in 7 of the 7 fiscal years we could check. 24 checks were skipped: the balance sheet is not tagged before 2019. 12 checks were skipped: EPS is not tagged before 2019.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityNatural Gas Transmission
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2019

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