DT Midstream, Inc. · Natural Gas Transmission

DTM

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The short version

A profitable company with growing sales. Institutions are adding.

Going well

Sales up 11% in the latest quarter vs a year ago
Profitable, keeps 36% of sales as profit
Sales up 27% last year

Money moves

No insider buying or selling in the last 30 days
Institutions added 4.4% to their holdings in the quarter ending June 2026 (341 bought, 248 sold)
Held by Ray Dalio (Bridgewater)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$126.96+2.5% that day

Company value: $13.0B; Share price times all shares
Price vs profit (P/E): 27.8x; You pay about $28 for each $1 of yearly profit
Price vs sales: 9.9x; Company value is 9.9 times a year of sales
Dividend yield: 2.6%; Yearly dividend as a share of today's price
Cash vs value: 1%; Cash as a share of company value
Debt vs value: 26%; Debt as a share of company value

From DTM's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$343.0M+11% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $1.3B, up 18% from the 12 months before. Over 5 years, sales grew about 11% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of DTM. Starting points are the company's recent numbers.

Sales growth+18% a yearRecently: +18% a yearProfit margin36%Last 12 months: 35.7%P/E at the end28xToday: 27.8x. Many steady companies trade at 12x to 25xShare count change+2% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$3.0B

Profit in 5 years$1.1B

Price these guesses point to$268.21+111% vs $126.96 todayAbout +16% a year, before dividends

What today's price needs: with a 36% margin and a 28x P/E, sales would have to grow about 1.6% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

3/6Mixed

MissReturn on equity 15%+Earns a lot on the money owners have in the business.9.4%
MissDebt under half of equityNot relying on borrowed money.0.70x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.35.5%
PassProfitable every yearSteady profits, not one good year.7 of 7 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$441.0M
MissShare count not growingNot diluting owners. Falling means buybacks.+5.5% in 3 years

Revenue: $1.2B; +26.7% vs prior year
5-year growth: +10.5%/yr; revenue, per year
Total debt: $3.3B; 0.70x equity
Current ratio: 1.07x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.