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DT Midstream vs Summit Midstream: DTM and SMC compared
DT Midstream is the larger company: $336M of revenue in its latest quarter (Q3 2026) against $155M for Summit Midstream (Q2 2026). Summit Midstream is growing faster (+11% against +7% a year earlier). DT Midstream is more profitable, with an operating margin of 48.5% against 16.1%.
Where the money goes: DTM and SMC
DT Midstream (DTM) · Q3 2026
DT Midstream, Q3 2026: revenue $336M (+7% year over year), operating margin 48.5%, net earnings $118M, operating cash flow $275M. The chart follows the revenue to costs, profit and cash.
Summit Midstream (SMC) · Q2 2026
Summit Midstream, Q2 2026: revenue $155M (+11% year over year), operating margin 16.1%, net earnings $1.6M, operating cash flow $43.9M. The chart follows the revenue to costs, profit and cash.
| DT Midstream (DTM) | Summit Midstream (SMC) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $336M | $155M |
| Revenue growth, Y/Y | +7% | +11% |
| Operating margin | 48.5% | 16.1% |
| Net earnings | $118M | $1.6M |
| Net margin | 35.1% | 1.0% |
| Operating cash flow | $275M | $43.9M |
| Free cash flow | $184M | $18.9M |
| Market value | $12.8B | — |
| P/E | 27.1× | — |
| Analysts’ mean target | $148.40 | — |
Where the revenue comes from
Summit Midstream
- Natural gas, NGLs and condensate sales: $84.1M (54%)
- Gathering services and related fees: $62.7M (40%)
- Other revenues: $8.2M (5%)
Questions
Which is bigger, DT Midstream or Summit Midstream?
DT Midstream is the larger company: $336M of revenue in its latest quarter (Q3 2026) against $155M for Summit Midstream (Q2 2026).
Is DT Midstream or Summit Midstream growing faster?
Summit Midstream is growing faster (+11% against +7% a year earlier).
Which is more profitable, DT Midstream or Summit Midstream?
DT Midstream is more profitable, with an operating margin of 48.5% against 16.1%.
More: DT Midstream earnings · how DT Midstream makes money · Summit Midstream earnings · how Summit Midstream makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Aug 10, 2026). Fiscal quarters can end on different dates. Not investment advice.