DT Midstream Inc (DTM) Fair Value & Analysis
Energy · US · Market cap $14.8B · ISIN US23345M1071
What is DT Midstream Inc really worth?
DT Midstream Inc
DTM · US
A solid business, but trading 186% above our fair value of $44.94.
Strengths
Risks
For context
Fair value as of: Aug 14, 2026
From 25 valuation models · updated 22 days ago
Fair value updated Aug 14, 2026, revised from $45.32 to $44.94 (−0.8%) since Jul 19, 2026. Share price −4.6% over the past month.
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What matters now
- The price sits above even our optimistic bull case ($61.91). The favourable scenario is already priced in.
- The model range is unusually wide ($17.29 to $61.91). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 14, 2026.
How to read this chart
60‑month range $31.30 – $150.74 · fair‑value band $17.29 – $61.91 · the $128.58 price screens above the $44.94 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 14, 2026.
Analysis
DT Midstream Inc (DTM) currently trades at $128.58, while our model-based Fair Value estimate is $44.94, implying the stock looks roughly 186.1% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Energy sector. Bull case: the Growth Earnings group reads highest at a median of $69.13 per share, and 1 of the 25 models we run sit above the $128.58 price. Bear case: the Growth DCF group reads lowest at $6.82, and 24 of the 25 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, DT Midstream Inc generated revenue of $1.3B at a net margin of 36.3%. Revenue grew 10.9% year over year. It earns a return on equity of 9.9%. Net debt stands at $3.4B. Fundamentals as of Aug 14, 2026
Our scenario range runs from $17.29 (bear case) to $61.91 (bull case); at $128.58, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 16% below its 52-week high and 34% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at −46% fair-value upside, at −65%, DTM screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.7918 per share, which is 1.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 25 models by family
Widest divergence: Growth Earnings ($69.13) versus Growth DCF ($6.82). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 60
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
DT Midstream, Inc., together with its subsidiaries, provides integrated natural gas services in the United States. The company operates in two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.
Full company description
DT Midstream, Inc., together with its subsidiaries, provides integrated natural gas services in the United States. The company operates in two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines. This segment also engages in the transportation and storage of natural gas for intermediate and end-user customers. The Gathering segment owns and operates gas gathering systems. This segment is involved in the collection of natural gas for delivery to plants for treating, to gathering pipelines for further gathering, or to pipelines for transportation; and associated ancillary services, including compression, dehydration, gas treatment, water impoundment, water transportation, water disposal, and sand mining. It serves natural gas producers, local distribution companies, electric power generators, industrials, and national marketers. The company was incorporated in 2021 and is headquartered in Detroit, Michigan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
DT Midstream Inc reported revenue of $1.2B in FY2025 versus $840M in FY2021, a compound +10.3%/yr. Reported net income was $441M in FY2025, compounding +9.5%/yr from FY2021.
DTM screens 186% overvalued. Compare with Enbridge Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- DT Midstream (DTM) Stock Looks Stretched As Its 250% 5 Year Run Continues
- DT Midstream (DTM) Tests Its Bull Case As Gas Demand Narrative Meets Valuation Questions
- DT Midstream upgraded to Outperform at Wolfe as 'quality growth story'
- Implied Volatility Surging for DT Midstream Stock Options
Peer Group
Oil & Gas Midstream · 89 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Oil & Gas Midstream median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 66/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Oil & Gas Midstream stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Enbridge Inc ENB | $50.72 | $35.83 | −29% |
| The Williams Companies, Inc WMB | $74.05 | $11.73 | −84% |
| Enterprise Products Partners L.P. EPD | $39.02 | $20.94 | −46% |
| TC Energy Corporation TRP | C$88.72 | C$24.53 | −72% |
| Kinder Morgan, Inc KMI | $31.60 | $10.92 | −65% |
| Energy Transfer LP, ET | $21.31 | $11.45 | −46% |
| MPLX LP owns and MPLX | $59.25 | $36.42 | −39% |
| ONEOK, Inc OKE | $95.69 | $58.62 | −39% |
| Targa Resources Corp TRGP | $286.91 | $79.61 | −72% |
| Cheniere Energy, Inc LNG | $280.80 | $199.99 | −29% |
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