DTM financial statements

The full income statement, balance sheet, and cash-flow statement for DT Midstream Inc. Common Stock (DTM), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 97.1M2024-09 97.2M2024-12 101.4M2025-03 101.6M2025-06 101.6M2025-09 101.7M2025-12 101.7M2026-03 102.0M2026-06 102.0M+5.0% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.24B YoY+26.7%	981M YoY+6.4%	922M YoY+0.2%	920M YoY+9.5%	840M YoY+11.4%
Lease income	78.0M YoY+766.7%	9.00M YoY+28.6%	7.00M YoY-30.0%	10.0M YoY+11.1%	9.00M YoY+0.0%
Amortization of intangibles	60.0M YoY+5.3%	57.0M YoY+0.0%	57.0M YoY+0.0%	57.0M YoY-1.7%	58.0M YoY+5.5%
Provision for credit losses	0.00	0.00	0.00	0.00	0.00 YoY+100.0%
Operating income	614M YoY+25.6%	489M YoY+3.8%	471M YoY-1.5%	478M YoY+18.9%	402M YoY-2.9%
Interest expense	161M YoY+5.2%	153M YoY+2.0%	150M YoY+9.5%	137M YoY+22.3%	112M YoY-0.9%
Interest & investment income	2.00M YoY-71.4%	7.00M YoY+600.0%	1.00M YoY-66.7%	3.00M YoY-25.0%	4.00M YoY-55.6%
Other non-operating income	5.00M YoY+25.0%	4.00M YoY+300.0%	1.00M YoY+0.0%	1.00M YoY-50.0%	2.00M YoY-90.9%
Equity-method income	138M YoY-14.8%	162M YoY-8.5%	177M YoY+18.0%	150M YoY+19.0%	126M YoY+16.7%
Pre-tax income	598M YoY+18.7%	504M YoY+0.8%	500M YoY+3.7%	482M YoY+14.2%	422M YoY-4.1%
Income tax	144M YoY+5.1%	137M YoY+31.7%	104M YoY+4.0%	100M YoY-3.8%	104M YoY-10.3%
	441M YoY+24.6%	354M YoY-7.8%	384M YoY+3.8%	370M YoY+20.5%	307M YoY-5.2%
Net income to non-controlling interest	13.0M YoY+0.0%	13.0M YoY+8.3%	12.0M YoY+0.0%	12.0M YoY+9.1%	11.0M YoY-8.3%
	$4.30 YoY+19.4%	$3.60 YoY-8.6%	$3.94 YoY+3.4%	$3.81 YoY+20.6%	$3.16 YoY-2.2%
EPS (basic)	$4.34 YoY+19.6%	$3.63 YoY-8.6%	$3.97 YoY+3.7%	$3.83 YoY+20.8%	$3.17 YoY-1.9%
	102M YoY+4.1%	97.6M YoY+0.7%	96.9M YoY+0.2%	96.7M YoY+0.0%	96.7M YoY+0.0%
	103M YoY+4.2%	98.4M YoY+0.9%	97.5M YoY+0.3%	97.2M YoY+0.3%	96.9M YoY+0.2%
Dividends per share	$3.28 YoY+11.6%	$2.94 YoY+6.5%	$2.76 YoY+7.8%	$2.56 YoY+113.3%	$1.20
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	318M YoY+2.6%	310M YoY+14.0%	272M YoY+3.8%	262M YoY-27.2%	360M YoY-25.5%
Cash & equivalents	54.0M YoY-20.6%	68.0M YoY+21.4%	56.0M YoY-8.2%	61.0M YoY-53.8%	132M YoY+214.3%
Accounts receivable	186M YoY+8.1%	172M YoY+11.7%	154M YoY-4.3%	161M YoY-4.7%	169M YoY+37.4%
Prepaid expenses	36.0M YoY+24.1%	29.0M YoY+81.3%	16.0M YoY-11.1%	18.0M	—
Other current assets	—	—	—	18.0M YoY-28.0%	25.0M YoY+47.1%
	10.1B YoY+1.5%	9.94B YoY+10.6%	8.98B YoY+1.7%	8.83B YoY+8.2%	8.17B YoY-2.1%
Property, plant & equipment	5.77B YoY+4.3%	5.53B YoY+24.7%	4.43B YoY+16.5%	3.81B YoY+9.1%	3.49B YoY+0.6%
Operating lease right-of-use	46.0M YoY-6.1%	49.0M YoY+28.9%	38.0M YoY+22.6%	31.0M YoY-13.9%	36.0M YoY-20.0%
Goodwill	781M YoY+0.6%	776M YoY+64.1%	473M YoY+0.0%	473M YoY+0.0%	473M YoY+0.0%
Intangible assets	1.86B YoY-3.1%	1.92B YoY-2.4%	1.97B YoY-2.8%	2.02B YoY-2.7%	2.08B YoY-2.7%
Other non-current assets	2.74B YoY-2.1%	2.80B YoY+11.4%	2.51B YoY-2.0%	2.56B YoY-2.3%	2.63B YoY-2.7%
	296M YoY-30.5%	426M YoY-1.8%	434M YoY-29.3%	614M YoY+246.9%	177M YoY-94.6%
Accounts payable	65.0M YoY-15.6%	77.0M YoY-18.1%	94.0M YoY-21.0%	119M YoY+440.9%	22.0M YoY-24.1%
Deferred revenue	25.0M YoY+38.9%	18.0M YoY+0.0%	18.0M YoY+350.0%	4.00M	—
Short-term & current debt	0.00 YoY-100.0%	150M YoY-9.1%	165M	0.00 YoY-100.0%	10.0M
Current lease liability	16.0M YoY+0.0%	16.0M YoY+23.1%	13.0M YoY-18.8%	16.0M YoY+0.0%	16.0M YoY-5.9%
Other current liabilities	23.0M YoY+35.3%	17.0M YoY+13.3%	15.0M YoY-37.5%	24.0M YoY-7.7%	26.0M YoY-21.2%
	5.20B YoY+0.6%	5.17B YoY+9.9%	4.70B YoY+0.5%	4.68B YoY+12.9%	4.14B YoY+0.8%
Long-term debt	3.32B YoY+0.2%	3.32B YoY+8.3%	3.06B YoY+0.2%	3.06B YoY+0.8%	3.04B
Deferred revenue (non-current)	160M YoY+18.5%	135M YoY+21.6%	111M YoY+296.4%	28.0M	—
Non-current lease liability	32.0M YoY-11.1%	36.0M YoY+33.3%	27.0M YoY+42.1%	19.0M YoY-9.5%	21.0M YoY-25.0%
Operating lease liability (total)	48.0M YoY-7.7%	52.0M YoY+30.0%	40.0M YoY+14.3%	35.0M YoY-5.4%	37.0M
Deferred tax liabilities	1.27B YoY+12.5%	1.13B YoY+9.5%	1.03B YoY+11.7%	923M YoY+7.8%	856M YoY+15.2%
Other non-current liabilities	1.58B YoY+11.1%	1.42B YoY+18.4%	1.20B YoY+19.6%	1.01B YoY+7.9%	932M YoY+12.8%
	4.74B YoY+2.4%	4.63B YoY+11.8%	4.14B YoY+3.3%	4.01B YoY+3.5%	3.87B YoY-8.4%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	1.00M YoY+0.0%	1.00M YoY+0.0%	1.00M YoY+0.0%	1.00M YoY+0.0%	1.00M
Additional paid-in capital	3.92B YoY+0.1%	3.91B YoY+12.2%	3.48B YoY+0.5%	3.47B YoY+0.6%	3.45B
Retained earnings	827M YoY+14.4%	723M YoY+9.4%	661M YoY+20.8%	547M YoY+26.9%	431M YoY-42.6%
Accumulated other comprehensive income	-7.00M YoY+12.5%	-8.00M YoY+0.0%	-8.00M YoY+20.0%	-10.0M YoY+0.0%	-10.0M YoY+9.1%
Non-controlling interest	142M YoY+2.2%	139M YoY-1.4%	141M YoY-4.1%	147M YoY-1.3%	149M
Total equity incl. non-controlling	4.88B YoY+2.3%	4.77B YoY+11.4%	4.28B YoY+3.0%	4.15B YoY+3.3%	4.02B YoY-4.9%
Total liabilities & equity	10.1B YoY+1.5%	9.94B YoY+10.6%	8.98B YoY+1.7%	8.83B YoY+8.2%	8.17B YoY-2.1%
	102M YoY+0.3%	101M YoY+4.5%	97.0M YoY+0.2%	96.8M YoY+0.0%	96.7M
	102M YoY+0.3%	101M YoY+4.5%	97.0M YoY+0.2%	96.8M YoY+0.0%	96.7M
	102M YoY+0.4%	101M YoY+4.5%	97.0M YoY+0.1%	96.9M YoY+0.2%	96.7M
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	867M YoY+13.6%	763M YoY-4.4%	798M YoY+10.1%	725M YoY+26.7%	572M YoY-4.2%
Depreciation & amortization	258M YoY+23.4%	209M YoY+14.8%	182M YoY+7.1%	170M YoY+2.4%	166M YoY+9.2%
Intangible amortization	60.0M YoY+5.3%	57.0M YoY+0.0%	57.0M YoY+0.0%	57.0M YoY-1.7%	58.0M YoY+5.5%
Share-based compensation	26.0M YoY+13.0%	23.0M YoY+15.0%	20.0M YoY+17.6%	17.0M YoY+41.7%	12.0M YoY+100.0%
Deferred income taxes	137M YoY+14.2%	120M YoY+9.1%	110M YoY+57.1%	70.0M YoY-32.7%	104M YoY-6.3%
Change in receivables	24.0M YoY+318.2%	-11.0M YoY-57.1%	-7.00M YoY+12.5%	-8.00M YoY-118.6%	43.0M YoY+168.8%
	-372M YoY+65.6%	-1.08B YoY-208.0%	-351M YoY+58.9%	-854M YoY-794.3%	123M YoY+117.2%
Capital expenditure	426M YoY+21.7%	350M YoY-54.7%	772M YoY+128.4%	338M YoY+141.4%	140M YoY-73.0%
Free cash flow	441M YoY+6.8%	413M YoY+1488.5%	26.0M YoY-93.3%	387M YoY-10.4%	432M YoY+446.8%
Acquisitions	-10.0M YoY-100.8%	1.20B	0.00	0.00	0.00
Other investing activities	0.00	0.00 YoY+100.0%	-1.00M YoY+50.0%	-2.00M YoY+0.0%	-2.00M
	-509M YoY-254.2%	330M YoY+173.0%	-452M YoY-879.3%	58.0M YoY+109.6%	-605M YoY-635.4%
Long-term debt issued	0.00 YoY-100.0%	644M	0.00 YoY-100.0%	591M YoY-80.6%	3.05B
Long-term debt repaid	0.00 YoY-100.0%	399M	0.00 YoY-100.0%	596M YoY+11820.0%	5.00M
Common stock issued	0.00 YoY-100.0%	406M	0.00	0.00	0.00
Common stock repurchased	0.00	0.00	0.00 YoY-100.0%	3.00M	0.00
Dividends paid	324M YoY+15.7%	280M YoY+6.5%	263M YoY+7.8%	244M YoY+320.7%	58.0M
Other financing activities	-25.0M YoY-316.7%	-6.00M YoY+0.0%	-6.00M YoY+0.0%	-6.00M	0.00
Net change in cash	-14.0M YoY-216.7%	12.0M YoY+340.0%	-5.00M YoY+93.0%	-71.0M YoY-178.9%	90.0M YoY+2350.0%
Interest paid	152M YoY+8.6%	140M YoY+0.0%	140M YoY+12.0%	125M YoY+21.4%	103M YoY-8.8%
Income taxes paid	5.00M YoY-58.3%	12.0M YoY-45.5%	22.0M YoY-8.3%	24.0M YoY+700.0%	3.00M YoY+0.0%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	12.2B YoY+20.8%	10.1B YoY+89.7%	5.31B YoY-0.6%	5.35B YoY+15.2%	4.64B
P/E	27.6× YoY-3.0%	28.5× YoY+86.4%	15.3× YoY+6.2%	14.4× YoY-4.9%	15.1×
P/S	9.8× YoY-4.7%	10.3× YoY+78.1%	5.8× YoY-2.9%	5.9× YoY+7.5%	5.5×
P/B	2.6× YoY+18.0%	2.2× YoY+67.2%	1.3× YoY-3.1%	1.3× YoY+12.1%	1.2×
P/FCF	27.6× YoY+13.1%	24.4×	—	11.5× YoY+7.0%	10.7×
	3.6% YoY+3.1%	3.5% YoY-46.4%	6.5% YoY-5.9%	7.0% YoY+5.2%	6.6%
	3.6% YoY-11.6%	4.1%	—	8.7% YoY-6.6%	9.3%
	2.7% YoY-7.3%	3.0% YoY-41.3%	5.0% YoY+8.7%	4.6% YoY+85.2%	2.5%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: DTM's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all DTM filings on SEC EDGAR → Not investment advice.