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DT Midstream DTM Operating margin

Operating margin at other companies

Williams Companies logo
Williams CompaniesWMB
34.3%-0.2pp
DTE Energy logo
DTE EnergyDTE
13.1%-3.0pp
Enterprise Products Partners logo
Enterprise Products PartnersEPD
14.4%+1.6pp
Kinder Morgan logo
Kinder MorganKMI
28.7%+0.9pp
TRG
Targa ResourcesTRGP
21.9%+6.1pp
Oneok logo
OneokOKE
16.9%-3.7pp

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$14.62B+40.2%
Enterprise value$17.84B+29.0%
P/E31.6×+3.0×
P/S11.5×+1.5×

Profitability

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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

Calculated from DT Midstream’s reported figures.

Based on trailing twelve months.

The official record: DT Midstream’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is DT Midstream's operating margin?
DT Midstream (DTM) reported operating margin of 49.5% in Q1 2026.
How has DT Midstream's operating margin changed year-over-year?
DT Midstream's operating margin increased by 0.8% year-over-year, from 49.1% to 49.5%.
What is the long-term trend for DT Midstream's operating margin?
Over 5 years (2020 to 2025), DT Midstream's operating margin has grown at a -2.1% compound annual growth rate (CAGR), from 54.9% to 49.4%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.