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Companies / Energy / DT Midstream, Inc.
DTM

DT Midstream, Inc.

EnergyElectric, Gas & Water
Ticker DTMDETROIT, MIFiscal year ends DecemberBook value per share $46.53Diluted shares 102.7M

DT Midstream (NYSE: DTM) owns, operates and develops natural gas midstream infrastructure, providing transportation, storage, gathering, treatment and compression services to natural gas producers, local distribution companies, electric power generators, industrial customers and national marketers. Its two reportable… From the company’s description.

In fiscal 2025, DT Midstream, Inc. reported revenue of $1.24B, up 26.7% from fiscal 2024, and net income of $454.00M. Its operating margin was 49.4%, and operations generated $867.00M in cash. Over the twelve months to Jun 30, 2026, revenue was $1.31B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$1.24BFY2025
+26.7% year over year
Last 12 mo $1.31B
49.40%FY2025
−0.5 percentage points
Last 12 mo 49.62%
$454.00MFY2025
+23.7% year over year
Last 12 mo $482.00M
9.31%FY2025
+1.7 percentage points
Last 12 mo 9.79%
Cash & financing
$867.00MFY2025
+13.6% year over year
Last 12 mo $937.00M
$441.00MFY2025
+6.8% year over year
Last 12 mo $480.00M
0.70FY2025
Was 0.75× a year earlier
Last 12 mo 0.70
102.5MFY2025
+4.2% year over year
Last 12 mo 102.7M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What DT Midstream, Inc. does

In the company’s own words

DT Midstream (NYSE: DTM) owns, operates and develops natural gas midstream infrastructure, providing transportation, storage, gathering, treatment and compression services to natural gas producers, local distribution companies, electric power generators, industrial customers and national marketers. Its two reportable segments are Pipeline, comprising interstate and intrastate pipelines, storage systems and gathering lateral pipelines, and Gathering, comprising gathering systems and related treatment and compression facilities. Pipeline accounted for approximately 55% of consolidated revenue and Gathering approximately 45% in 2025. The company’s assets connect production in the Marcellus, Utica and Haynesville formations with demand centers in the Midwest, Eastern Canada and Northeast, as well as Gulf Coast markets and LNG export terminals. Its portfolio includes wholly owned pipelines such as Guardian, Midwestern, Viking and LEAP, and interests in pipeline joint ventures including Millennium, NEXUS and Vector. DT Midstream was spun off from DTE Energy in 2021 and expanded its Pipeline segment through the 2024 Midwest Pipeline Acquisition. It employed 588 people at year-end 2025. Its website is www.dtmidstream.com.

Company details
Sector
Energy
Industry (SIC)
Electric, Gas & Water
Headquarters
DETROIT, MI
Fiscal year end
December
CIK
1842022
SIC
4922

Financial performance, year by year

Fiscal 2021–2025 · USD
$-131.00M$262.00M$655.00M$1.05B$1.44B20212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns DT Midstream, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

484
funds hold it
0 of 35
superinvestors hold it
$6.57B
held by funds, at market
44.3%
of shares held by funds

Largest fund holders · DT Midstream, Inc.’s weight in each

iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.41%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.02%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.18%of fund net assets
Tortoise Energy Infrastructure Total Return Fund
TORTX · Tortoise Capital Series Trust
6.41%of fund net assets
VANGUARD SMALL-CAP VALUE INDEX FUND
VBR · VANGUARD INDEX FUNDS
0.32%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do DT Midstream, Inc. and its peers compare on margins and cash generation over ten years?”
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