DT Midstream, Inc. (DTM) is a publicly traded company in the Energy — Oil & Gas Midstream industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
DT Midstream, Inc. is a U.S.-based company offering a comprehensive suite of natural gas infrastructure and related services. The organization's operations are divided into two primary divisions: Pipeline and Gathering. It is responsible for the development, ownership, and management of an interconnected network of assets.
Is DT Midstream, Inc. stock overvalued or undervalued in 2026?
DT Midstream, Inc. (DTM) trades at 27.4× earnings (P/E), above the median of the 140 energy companies over $2bn in Kaplio's universe. At its sector median (17.3×) $79 (-37 %).
Kaplio overview: DT Midstream, Inc.
Market cap $13B · 52 weeks $106 – $151 (17 % below the high) · P/E 27.4× · 2027 expected P/E 24.9× · Dividend 2.7 % · 3 years rising · Next earnings October 29, 2026 · expected EPS $1.13 · Intraday price, Oct 28 · accounts published Jul 30.
- Valuation: P/E 27.4× (expensive).
- Business: 5-year ROIC 4.2 % (weak).
- Balance sheet: Net debt/EBITDA 3.2× (fragile).
- Earnings: 4 of 8 (uneven).
What would it be worth at its usual multiples?
At its sector median (17.3×) $79 (-37 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
What matters in energy: 2 of 7 pass
- FCF yield 5.5 %, fails.
- 5y avg ROIC 4.2 %, fails.
- Net debt / EBITDA 3.2×, fails.
- Capex / Revenue 34.3 %, fails.
- EV/EBITDA vs own 10y 14.9×, fails.
- Positive FCF through the cycle 8 de 8 ejercicios, passes.
- Dividend coverage (FCF / div) 1.4×, passes.
- P/E read in reverse (cyclicals) 27.4×, info.
Against its peers (reference peers) — DT Midstream, Inc.: P/E 27.4×; EV/EBITDA 14.9×; ROIC 4.9 %; $12.7B. Antero Midstream Corporation (P/E 24.7×; EV/EBITDA 14.0×; ROIC 8.6 %; $9.8B), Western Midstream Partners, LP (P/E 14.1×; EV/EBITDA 12.0×; ROIC 11.1 %; $18.6B), Hess Midstream LP (P/E 10.6×; EV/EBITDA 8.3×; ROIC 20.8 %; $6.3B).
Expensive or cheap against its last 5 years?
P/E at each close: today 27.4× · median 17.6× · minimum 12.1× · maximum 39.0× · cheap below 15.3× · expensive above 28.8×. It has been cheaper than today 73% of the time over its last 5 years.
Dividend
tight · Yield 2.7 % ($3.19 per share in 2025) · Years raising it 3 · paying since 2021 · Free cash flow coverage 1.0× · With $1,000 invested today you'd collect $26.90 a year ($2.24 a month).
Profitability
| Return on Equity | 9.87% |
| Return on Invested Capital | 4.89% |
| Return on Assets | 4.59% |
| Gross Margin | 63.21% |
| Operating Margin | 49.69% |
| Net Margin | 35.73% |
Financial Health
| Debt / Equity | 0.71 |
| Current Ratio | 1.37 |
| Piotroski F-Score | 8 |
| Altman Z-Score | 1.84 |
Price Performance
| 1 month | +2.65% |
| 3 months | -9.53% |
| Year-to-date | +4.32% |
| 1 year | +17.33% |
| 3 years | +133.98% |
| 5 years | +160.32% |
Dividend History
Paid in the last 12 months: $3.4600 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-09-21 | $0.8800 |
| 2026-06-15 | $0.8800 |
| 2026-03-16 | $0.8800 |
| 2025-12-15 | $0.8200 |
| 2025-09-15 | $0.8200 |
| 2025-06-16 | $0.8200 |
| 2025-03-17 | $0.8200 |
| 2024-12-16 | $0.7350 |
| 2024-09-16 | $0.7350 |
| 2024-06-17 | $0.7350 |
Amounts adjusted for stock splits.
Related companies: WMB · KMI · MPLX · OKE · WES · AM · HESM · KNTK
Explore sector: Energy · Oil & Gas Midstream
More sections of DTM: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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