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DT Midstream DTM Q4 2025 Annual earnings

Reported February 19, 2026 · Before market open

Revenue$317.0MIn lineDiluted EPS$1.08Miss by $0.03
Revenue estimate$317.1M
EPS estimate$1.11

Next report

Jul 30, 2026 (In 2 weeks)
Revenue estimate$324.7M
EPS estimate$1.13

Financials

Q4 2025

Income statement

See full
Revenue$317.0M+27.3%
Operating income$156.0M+38.1%
Net income$111.0M+52.1%
EPS (diluted)$1.08+47.9%

Balance sheet

See full
Cash & equivalents$54.0M-20.6%
Total debt$3.4B-4.2%
Total equity$4.7B+2.4%
Total assets$10.1B+1.5%

Cash flow

See full
Operating cash flow$161.0M+5.9%
CapEx$131.0M+45.6%
Free cash flow$30.0M-51.6%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$12.17B+20.8%
Enterprise value$15.49B+14.5%
P/E27.6×-0.9×
P/S9.8×-0.5×

Profitability

See full
Operating margin49.4%-0.5pp
Net margin35.5%-0.6pp
FCF margin35.5%-6.6pp

Returns & leverage

See full
Return on equity9.4%+1.3pp
Debt / equity0.7×0.0×
Current ratio1.1×+0.3×

Segments

By segment

See full
Pipeline$173.0M+50.4%
Gathering$144.0M+7.5%

Versus estimates

Revenue

Q1 2026$336.0MBeat by $22.4M
Q4 2025$317.0MIn line
Q3 2025$314.0MMiss by $6.1MQ2 2025$309.0MMiss by $3.3MQ1 2025$303.0MBeat by $12.2MQ4 2024$249.0MMiss by $4.4M

Diluted EPS

Q1 2026$1.27Beat by $0.16
Q4 2025$1.08Miss by $0.03
Q3 2025$1.13Beat by $0.10Q2 2025$1.04Beat by $0.06Q1 2025$1.06Miss by $0.01Q4 2024$0.94Beat by $0.05

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Questions, answered.

When did DT Midstream report Q4 2025 earnings?
DT Midstream (DTM) reported Q4 2025 earnings on February 19, 2026 before market open.
What were DT Midstream's Q4 2025 revenue and EPS?
DT Midstream reported revenue of $317.0M and diluted EPS of $1.08 for Q4 2025.
Did DT Midstream beat estimates in Q4 2025?
Revenue missed the consensus estimate of $317.1M by $112.3K. EPS missed the consensus estimate of $1.11 by $0.03.
How did DT Midstream's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 27.3% from $249.0M a year earlier and diluted EPS grew 14.9% from $0.94.
Where can I find DT Midstream's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001140361-26-006115) and the 10-K periodic report (0001842022-26-000003) directly on SEC EDGAR. The filing index links above go to sec.gov.