DT Midstream, Inc.

DTMNYSEEnergy● Active

$141.85

$-0.66(-0.46%)

Market Cap$14.5B

P/E Ratio—

52W High$152.88

52W Low$98.06

Avg Volume797K

Open$142.90

Beta0.74

Free Cash Flow Financials Revenue

DT Midstream, Inc. (DTM) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

DTM · free cash flow · updated Jun 8, 2026

Core FCF metrics

DTM · FCF · TTM · margin & CAGR

Free cash flow was $490.0M for FY2025 (fiscal year ending 2025-12-31), up 18.6% year-over-year The FCF margin was 39.4%. Five-year CAGR stands at +44.0%.

FY2025 Free Cash Flow$490.0M▲ +18.6% YoY

Trailing 12M (TTM)$664.0Mtrailing 4 quarters sum

FCF Margin39.4%$490.0M ÷ revenue

3-Year CAGR+8.2%FY2022 → FY2025

5-Year CAGR+44.0%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

DTM · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$916.0M(426M)$490.0M▲ +18.6%39.4%

FY2024$763.0M(350M)$413.0M▲ +1488.5%42.1%

FY2023$798.0M(772M)$26.0M▼ 93.3%2.8%

FY2022$725.0M(338M)$387.0M▼ 10.4%42.1%

FY2021$572.0M(140M)$432.0M▲ +446.8%51.4%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

DTM · P/FCF · FCF yield · FCF per share

DT Midstream, Inc. (DTM) trades at a FCF yield of 4.57% and a price-to-free-cash-flow ratio of 21.7x. FCF per share stands at $6.54, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

4.57%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$6.54

TTM FCF ÷ Shares Outstanding

Price / FCF

x21.7

Share Price ÷ FCF per Share

EV / FCF (TTM)

x26.7

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

DTM · cash flow statement · operating / investing / financing

For FY2025, DT Midstream, Inc. generated $916.0M in operating cash flow and spent 426M in capital expenditures, yielding $490.0M in free cash flow.

Operating Activities

+$916.0M

Cash from core business operations

2025-12-31

Investing Activities

−$414.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$516.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($916.0M) − |CapEx| (426M) = FCF ($490.0M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Energy)

DTM vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

DT Midstream, Inc.YOU

DTM

$490.0M+18.6%39.4%

Exxon Mobil Corporation

Energy · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

DT Midstream, Inc. (DTM) reported free cash flow of $490.0M for FY2025 (fiscal year ending 2025-12-31), up 18.6% year-over-year. The FCF margin was 39.4%.

Based on available data, DT Midstream, Inc. has maintained positive free cash flow for at least 8 fiscal year(s). FCF peaked at $490.0M in FY2025. The 5-year CAGR stands at +44.0%.

DT Midstream, Inc.'s FCF yield is 4.57% and price-to-FCF ratio is 21.7x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

DTM free cash flow · 8 questions

DT Midstream, Inc. free cash flow was $490.0M for FY2025, up 18.6% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $664.0M.

DTM free cash flowDTM FCFDTM FCF 2025DTM free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · DT Midstream, Inc. · DT Midstream, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026