← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
DTE Energy's Michigan utilities lifted net income 4.1% to $1.46B under a new CEO, while a gas-price-driven jump in trading revenue pushed total revenue up 26.9% and debt rose 12.9% to fund a $30 billion electric investment plan
The read at a glance✓ Audited against SEC data
- Growth — Revenue up 26.9% to $15.81B, mostly Energy TradingNote
- Profitability — Net income up 4.1% to $1.46B; operating margin down 178 bpsNote
- Balance sheet — Total debt up 12.9% to $26.19B; interest expense $1,056 millionWatch
- Capital allocation — Dividends paid up 7.5% to $871M; $4.44 a share declaredOK
- Investment plan — DTE Electric plans $30 billion of capital investment over 2026 to 2030Note
Business
DTE Energy owns DTE Electric, which serves about 2.3 million electricity customers in southeastern Michigan, and DTE Gas, which serves about 1.4 million natural gas customers across Michigan. Two smaller non-utility arms sit alongside: DTE Vantage, which develops renewable natural gas projects and custom energy solutions for industrial customers, and Energy Trading, which trades and markets power and gas. Rates for the utilities are set by Michigan regulators.
Where the revenue comes from
Fiscal 2025, as DTE ENERGY CO reports it. History and quarterly detail are in the app.
- Electric$6.9B
- Energy Trading$6.5B
- Gas$2.1B
- DTE Vantage$696.0M
Leadership changes
From DTE ENERGY CO's own filings, the day they're filed.
- Gerardo Norcia · Chief Executive Officer · appointmenteff. 2025-09-08
- David Ruud · Chief Financial Officer · appointmenteff. 2025-09-08
- Cassandra Santos · Chief Technology Officer · appointmenteff. 2025-02-06
Latest filings
- 8-K · Company announcement2026-09-28
- 8-K · Company announcement2026-09-08
- 8-K · Company announcement2026-09-04
- 8-K · Company announcement2026-07-31
- 8-K · Company announcement2026-07-28
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- What changed🔒
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- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
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- Full financial statements, industry-aware, sources cited throughout🔒
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- Ana — ask about DTE ENERGY CO, every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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