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DT Midstream DTM Gathering — Operation and maintenance

Other segment segments

Pipeline
$35M+9.4%

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Other financials

Income statement

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Revenue$336.0M+10.9%
Operating income$166.0M+12.2%
Net income$130.0M+20.4%
EPS (diluted)$1.27+19.8%

Balance sheet

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Cash & equivalents$150.0M+80.7%
Total debt$3.4B-1.8%
Total equity$4.8B+2.4%
Total assets$10.2B+0.7%

Cash flow

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Operating cash flow$280.0M+13.4%
CapEx$78.0M+9.9%
Free cash flow$202.0M+14.8%

Valuation

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Market cap$13.58B+28.1%
Enterprise value$16.8B+20.6%
P/E29.3×+1.1×
P/S10.6×+1.1×

Profitability

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Operating margin49.5%+0.4pp
Net margin36.3%+1.3pp
FCF margin36.6%-6.1pp

Returns & leverage

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Return on equity9.9%+1.6pp
Debt / equity0.7×0.0×
Current ratio1.3×+0.4×

Where this comes from

Reported directly by DT Midstream in its filing.

Tagged under the XBRL concept us-gaap:OtherCostAndExpenseOperating.

The source filing: DT Midstream’s 10-Q, filed April 30, 2026.

Filed
Apr 30, 2026, 2:32 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001842022-26-000006
Line itemPipelineGatheringTotal Reportable SegmentsEliminationsTotal Consolidated
Revenues
Operating revenues$185$156$341$(5)$336
Operating Expenses
Operation and maintenance355590(5)85
Depreciation and amortization29406969
Taxes other than income961515
Asset (gains) losses and impairments, net111
Other (Income) and Deductions

Item 1. Financial Statements

FAQ

What is DT Midstream's gathering — operation and maintenance?
DT Midstream (DTM) reported gathering — operation and maintenance of $55M in Q1 2026.
How has DT Midstream's gathering — operation and maintenance changed year-over-year?
DT Midstream's gathering — operation and maintenance increased by 19.6% year-over-year, from $46M to $55M.
What is the long-term trend for DT Midstream's gathering — operation and maintenance?
Over 4 years (2021 to 2025), DT Midstream's gathering — operation and maintenance has grown at a 3.0% compound annual growth rate (CAGR), from $173M to $195M.
What does gathering — operation and maintenance mean?
Includes the direct costs associated with operating and maintaining gathering pipelines, compression stations, and related facilities. This encompasses labor, field maintenance, utility costs for compression, and regulatory compliance expenses necessary to keep the gathering network operational.

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