DT Midstream Inc. Common Stock (DTM)

FairStock Score: 50/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach DT Midstream as a conservative owner of real assets. It owns and operates natural gas pipelines and gathering systems, two segments that move and store gas. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $343.0 million and net income was $112.0 million, a 32.65% net margin. Fiscal Q1 2026, the quarter ended 2026-03-31, showed $336.0 million of revenue and $130.0 million of net income. Over the full years, revenue rose from $922.0 million in FY2023 to $1.2 billion in FY2025, while net income went from $384.0 million to $441.0 million, not a smooth line since FY2024 net income was $354.0 million. That is respectable but not rapid. The FairStock Lynch category is Slow Grower, with profit up 7.2% a year over five years and revenue up 10.5%. Financially, FairStock's Piotroski F-Score is 7/9 and debt/equity is 0.69, but return on capital is weak: FairStock's ROE is 9.90% and ROCE is 4.03%. Free cash flow is $480.0 million, a 3.7% yield at the 2026-10-13 close. The trouble is price. At the 2026-10-13 close of $126.55, FairStock's calculations show P/E 27.75, P/B 2.70, PEG 5.94, and EV/EBITDA 14.73. FairStock's Graham Number is $69.33, leaving a negative margin of safety of 82.53%. Altman Z-Score is 1.69. I see a fair business with essential infrastructure, but the stock already discounts much better growth and returns than the numbers show.

In plain English: DT Midstream moves and stores natural gas through pipelines and gathering systems. The company is profitable and pays a dividend, but it earns modest returns on the money it invests and has grown slowly. At $126.55 a share, the price looks expensive compared with the value suggested by its profits and assets.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer