DT Midstream, Inc. (DTM) Income Statement
DTM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsDTM revenue and net income
Where DTM's revenue goes
2025Each bar shows an amount and its share of revenue. DTM kept 35.5% of revenue as net income.
DTM profit margins
DTM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +26.7% | +10.6% | +10.5% | — |
| Gross profit | +73.1% | +23.7% | +16.4% | — |
| Operating income | +25.6% | +10.5% | +8.3% | — |
| Net income | +24.6% | +6.0% | +7.2% | — |
| EPS (diluted) | +13.1% | +7.5% | +6.0% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
DTM quarterly EPS vs estimates
DT Midstream beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: October 29, 2026 (estimate $1.04).
DTM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.24B | $981.0M | $922.0M | $920.0M | $840.0M | $754.0M | $504.0M | $485.0M |
| Cost of revenue | $329.0M | $453.0M | $427.0M | $437.0M | $397.0M | $327.0M | $104.0M | $122.0M |
| Gross profit | $914.0M | $528.0M | $495.0M | $483.0M | $443.0M | $427.0M | $400.0M | $363.0M |
| Sales, general & admin | $65.0M | $63.0M | $51.0M | $295.0M | $255.0M | $175.0M | $141.0M | $122.0M |
| Total operating expenses | $300.0M | $39.0M | $28.0M | $28.0M | $24.0M | $15.0M | $242.0M | $212.0M |
| Operating income | $614.0M | $489.0M | $467.0M | $455.0M | $419.0M | $412.0M | $368.0M | $273.0M |
| Interest income | $21.0M | $7.0M | $2.0M | $3.0M | $18.0M | $4.0M | $31.0M | $65.0M |
| Interest expense | $161.0M | $153.0M | $150.0M | $137.0M | $112.0M | $113.0M | $75.0M | $69.0M |
| Income before taxes | $598.0M | $504.0M | $500.0M | $482.0M | $422.0M | $440.0M | $292.0M | $331.0M |
| Income taxes | $144.0M | $137.0M | $104.0M | $100.0M | $104.0M | $116.0M | $72.0M | $72.0M |
| Net income | $441.0M | $354.0M | $384.0M | $370.0M | $307.0M | $312.0M | $204.0M | $231.0M |
| EBITDA | $1.03B | $884.0M | $850.0M | $808.0M | $718.0M | $722.0M | $477.0M | $481.0M |
| EPS (diluted) | $4.31 | $3.81 | $3.95 | $3.47 | $3.42 | $3.22 | $2.10 | $2.38 |
| Gross margin | 73.5% | 53.8% | 53.7% | 52.5% | 52.7% | 56.6% | 79.4% | 74.8% |
| Operating margin | 49.4% | 49.8% | 50.7% | 49.5% | 49.9% | 54.6% | 73.0% | 56.3% |
| Net margin | 35.5% | 36.1% | 41.6% | 40.2% | 36.5% | 41.4% | 40.5% | 47.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $343.0M | $336.0M | $317.0M | $314.0M | $309.0M | $303.0M | $249.0M | $248.0M | $244.0M | $240.0M | $244.0M | $234.0M |
| Cost of revenue | $90.0M | $154.0M | $154.0M | $84.0M | $143.0M | $141.0M | $128.0M | $116.0M | $105.0M | $104.0M | $118.0M | $104.0M |
| Gross profit | $253.0M | $182.0M | $163.0M | $230.0M | $166.0M | $162.0M | $121.0M | $132.0M | $139.0M | $136.0M | $126.0M | $130.0M |
| Sales, general & admin | — | — | $7.0M | $10.0M | $11.0M | $14.0M | $8.0M | $10.0M | — | — | — | $7.0M |
| Total operating expenses | $80.0M | $15.0M | $7.0M | $75.0M | $11.0M | $14.0M | $8.0M | $10.0M | $9.0M | $12.0M | $6.0M | $7.0M |
| Operating income | $173.0M | $167.0M | $156.0M | $155.0M | $155.0M | $148.0M | $113.0M | $122.0M | $130.0M | $124.0M | $120.0M | $123.0M |
| Interest income | $1.0M | $1.0M | $4.0M | $1.0M | $10.0M | $1.0M | $5.0M | $1.0M | $0 | $1.0M | $0 | $3.0M |
| Interest expense | $42.0M | $40.0M | $41.0M | $40.0M | $40.0M | $40.0M | $36.0M | $38.0M | $39.0M | $40.0M | $39.0M | $38.0M |
| Income before taxes | $169.0M | $170.0M | $154.0M | $153.0M | $145.0M | $146.0M | $119.0M | $121.0M | $133.0M | $131.0M | $126.0M | $127.0M |
| Income taxes | $53.0M | $36.0M | $40.0M | $35.0M | $34.0M | $35.0M | $43.0M | $30.0M | $33.0M | $31.0M | $2.0M | $33.0M |
| Net income | $112.0M | $130.0M | $111.0M | $115.0M | $107.0M | $108.0M | $73.0M | $88.0M | $96.0M | $97.0M | $121.0M | $91.0M |
| EBITDA | $283.0M | $283.0M | $266.0M | $262.0M | $253.0M | $253.0M | $213.0M | $216.0M | $230.0M | $225.0M | $218.0M | $216.0M |
| EPS (diluted) | $1.09 | $1.27 | $1.08 | $1.13 | $1.04 | $1.06 | $0.94 | $0.90 | $0.98 | $0.99 | $1.24 | $0.94 |
| Gross margin | 73.8% | 54.2% | 51.4% | 73.2% | 53.7% | 53.5% | 48.6% | 53.2% | 57.0% | 56.7% | 51.6% | 55.6% |
| Operating margin | 50.4% | 49.7% | 49.2% | 49.4% | 50.2% | 48.8% | 45.4% | 49.2% | 53.3% | 51.7% | 49.2% | 52.6% |
| Net margin | 32.7% | 38.7% | 35.0% | 36.6% | 34.6% | 35.6% | 29.3% | 35.5% | 39.3% | 40.4% | 49.6% | 38.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in DTM's financial statements (latest annual report filed February 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
DTM financial results
In fiscal year 2025 (ended December 31, 2025), DT Midstream reported revenue of $1.2 billion, up 26.7% from the year before. It had net income of $441.0 million (up 24.6%), a net profit margin of 35.5%. Diluted earnings per share came to $4.31. Over five years revenue grew at an average rate of 10.5% a year.
See the DTM stock overview for the latest quote and news, or the DTM chart for price history and technical indicators.
DTM income statement FAQ
What is DT Midstream's annual revenue?
DT Midstream reported total revenue of $1.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 26.7% from $981.0 million the previous year.
Is DT Midstream profitable?
Yes. DT Midstream reported net income of $441.0 million in fiscal 2025, a net profit margin of 35.5%; its operating margin was 49.4%.
What is DT Midstream's gross margin?
DT Midstream's gross margin was 73.5% in fiscal 2025: for every $100 of revenue, DT Midstream kept $74 after the direct cost of its products and services.
How fast is DT Midstream growing?
Revenue grew 10.5% a year on average over the last five fiscal years, from $754.0 million to $1.2 billion.
What are DT Midstream's earnings per share?
DT Midstream earned $4.31 per diluted share in fiscal 2025, compared with $3.81 a year earlier.
When will DT Midstream report its next earnings?
DT Midstream is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does DT Midstream's fiscal year end?
DT Midstream's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 19, 2026.