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DTE Energy cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$768M in Q3 2026 · $3.5B over twelve months

Operating cash flow$768M
Free cash flow+$768M
Cash / net income1.6×

Analysis

In Q3 2026, DTE Energy generated $768M of operating cash flow. That is $136M more than in Q3 2025 ($632M).

Over the twelve months to Sep 30, 2026, operating cash flow was $3.5B; the largest uses were other investing ($6.0B), dividends ($919M), other financing ($43.0M); besides operations, cash came from net borrowing (+) / repaid (−) ($3.5B), acquisitions ($1.0M); the cash balance fell by $2.0M.

Operating cash flow was $768M against net income of $470M — 1.6× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$506M, inventory −$143M, deferred taxes −$104M.

Free cash flow

DTE Energy: free cash flow by quarterDTE Energy: free cash flow by quarter$1.1BQ4 2024$1.0BQ1 2025$709MQ2 2025$632MQ3 2025$1.0BQ4 2025$906MQ1 2026$773MQ2 2026$768MQ3 2026
Operating cash flow less capital spending.
DTE Energy: operating cash flow against capital spendingDTE Energy: operating cash flow against capital spendingOperating cash flowCapital spending$1.1B$0Q4 2024$1.0B$0Q1 2025$709M$0Q2 2025$632M$0Q3 2025$1.0B$0Q4 2025$906M$0Q1 2026$773M$0Q2 2026$768M$0Q3 2026
Latest (Q3 2026): Operating cash flow $768M, Capital spending $0.

Capital allocation, year by year

DTE Energy: where the cash came from (up) and went (down), by fiscal yearDTE Energy: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAcquisitionsBuybacksDividendsFY2021: Operating cash flow $3.1BFY2021: Net borrowing $2.4BFY2021: Buybacks −$66.0MFY2021: Dividends −$791M$5.4BFY2021FY2022: Operating cash flow $2.0BFY2022: Net borrowing $988MFY2022: Shares issued $1.3BFY2022: Buybacks −$55.0MFY2022: Dividends −$685M$4.3BFY2022FY2023: Operating cash flow $3.2BFY2023: Net borrowing $1.7BFY2023: Dividends −$752M$4.9BFY2023FY2024: Operating cash flow $3.6BFY2024: Net borrowing $2.2BFY2024: Dividends −$810M$5.8BFY2024FY2025: Operating cash flow $3.4BFY2025: Net borrowing $3.0BFY2025: Acquisitions −$210MFY2025: Dividends −$871M$6.4BFY2025
Over these 5 years operating cash flow totalled $15.3B; the largest uses were dividends ($3.9B) and acquisitions ($210M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$33.0M
Debt$26.0B
Net debt$26.0B
Due within a year$1.4B

DTE Energy funds itself: free cash flow was $3.5B over the last twelve months, and $33.0M of cash and investments stands against $26.0B of debt ($1.4B due within a year, 0.0× covered by cash).

DTE Energy: debt maturities by year (FY2025)DTE Energy: debt maturities by year (FY2025)$1.4BYear 1$1.7BYear 2$2.0BYear 3$2.0BYear 4$2.5BYear 5$15.8BAfter year 5
Principal due in each year as disclosed in the annual report, against $33.0M of cash and investments now.

Where the cash came from and went

DTE Energy: sources (+) and uses (−) of cash, Q3 2026DTE Energy: sources (+) and uses (−) of cash, Q3 2026Other investing−$1.5BNet borrowing (+) / repaid (−)$940MOperating cash flow$768MDividends−$234MOther financing−$9.0MCash drawn (+) / kept (−)$7.0M
DTE Energy: sources (+) and uses (−) of cash, TTM to Q3 2026DTE Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$6.0BOperating cash flow$3.5BNet borrowing (+) / repaid (−)$3.5BDividends−$919MOther financing−$43.0MCash drawn (+) / kept (−)$2.0MAcquisitions$1.0M

From profit to cash

DTE Energy: net income to operating cash flow, Q3 2026DTE Energy: net income to operating cash flow, Q3 2026Net income$470MDepreciation & amortization$506MDeferred taxes−$104MReceivables$69.0MInventory−$143MPayables−$85.0MOperating cash flow$768M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowAcquisitionsDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$768M—−$234M$940M$7.0M$768M
Q2 2026$773M—−$234M$868M$194M$773M
Q1 2026$906M—−$233M$684M−$28.0M$906M
Q4 2025$1.0B$1.0M−$218M$980M−$171M$1.0B
Q3 2025$632M—−$218M$1.2B$5.0M$632M
Q2 2025$709M—−$218M$554M$6.0M$709M
Q1 2025$1.0B—−$217M$174M−$2.0M$1.0B
Q4 2024$1.1B—−$203M−$1.6B$935M$1.1B

DTE Energy: income statement and cash flow

DTE Energy, Q3 2026: revenue $3.7B (+6% year over year), operating margin 16.2%. The chart follows the revenue to costs, profit and cash.

DTE Energy: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.