DTM (DT Midstream) EBIT: $783 Mil (TTM As of Mar. 2026)

What is DT Midstream EBIT?

DT Midstream DTM +0.56% 83 EBIT is $783 Mil as of Mar. 2026. GuruFocus rates DTM with a GF Score™ of 83/100 and a GF Value™ of $113.88 (Modestly Overvalued). The stock has 9 warning signs investors should review.

DT Midstream's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $210 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $783 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. DT Midstream's annualized ROC % for the quarter that ended in Mar. 2026 was 5.35%. DT Midstream's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 14.43%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. DT Midstream's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 4.32%.

DT Midstream (NYSE:DTM) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

DT Midstream's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

	ROC % (Q: Mar. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	668 * ( 1 - 21.18% )	/	( (9851	+	9830)	/ 2 )
=	526.5176	/	9840.5
=	5.35 %

where

	Invested Capital		(Q: Dec. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	10080	-	207	-	( 54	-	max(0, 296	-	318	+	54	))
=	9851

	Invested Capital		(Q: Mar. 2026 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	10155	-	242	-	( 150	-	max(0, 321	-	404	+	150	))
=	9830

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

DT Midstream's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	840	/	( ( (5812 + max(-18, 0))	+	(5830 + max(-54, 0)) )	/	2 )
=	840	/	( ( 5812	+	5830 )	/	2 )
=	840	/	5821
=	14.43 %

where Working Capital is:

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(186	+	0	+	76)	-	(207	+	25	+	48)
=	-18

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(186	+	0	+	64)	-	(242	+	24	+	38)
=	-54

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

DT Midstream's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2026 )
	=	783	/	18113.221
	=	4.32 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

DT Midstream EBIT Related Terms

DT Midstream EBIT Historical Data

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The historical data trend for DT Midstream's EBIT can be seen below:

DT Midstream EBIT Chart

DT Midstream Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

EBIT

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534.00

619.00

650.00

657.00

759.00

DT Midstream Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
EBIT	Get a 7-Day Free Trial															186.00	185.00	193.00	195.00	210.00

DTM vs PAA, WES, AM: EBIT Comparison

For the Oil & Gas Midstream subindustry, DT Midstream's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

DT Midstream EV-to-EBIT vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, DT Midstream's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where DT Midstream's EV-to-EBIT falls into.

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83GF Score

DT Midstream Inc DTM

EBIT is just one metric. See GF Score™, valuation, warning signs, and more.

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DT Midstream EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $783 Mil.

Frequently Asked Questions Learn more about EBIT →

What does a EBIT of $783 Mil mean?

DT Midstream (DTM) has a EBIT of $783 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on DT Midstream.

Is DT Midstream's EBIT too high?

DT Midstream's current EBIT is $783 Mil. Overall, DT Midstream has a GF Score™ of 83/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does DT Midstream's EBIT compare to PAA and WES?

DT Midstream's EBIT of $783 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good EBIT for an Oil & Gas company?

A good EBIT depends on the Oil & Gas industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high EBIT mean?

A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on DT Midstream. DT Midstream's current EBIT is $783 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is DT Midstream stock overvalued right now?

Based on GuruFocus' analysis, DT Midstream (DTM) is currently considered Modestly Overvalued. The stock's GF Value™ is $113.88, compared to a current price of $144.59 — trading 27% above its estimated fair value. The current EBIT is $783 Mil. DT Midstream's overall GF Score™ is 83/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is EBIT calculated?

EBIT is calculated from a company's financial statements. For DT Midstream (DTM), the current EBIT is $783 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is DT Midstream (DTM) Overvalued in 2026?

Based on GuruFocus' analysis, DT Midstream stock appears to be overvalued. The current stock price of $144.59 is trading 27% above its estimated GF Value™ of $113.88. GuruFocus considers DT Midstream to be Modestly Overvalued.

Key valuation signals for DTM:

EBIT: $783 Mil
GF Value™: $113.88 vs. price of $144.59 (27% above fair value)
GF Score™: 83/100 with 9 warning signs

No single metric tells the full story. See the DTM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

DT Midstream Business Description

Industry Energy Oil & Gas

Comparable Companies PAA WES AM VNOM FRO GLNG HESM PAGP INSW KNTK TSX:ENB WMB EPD KMI TSX:TRP ET TRGP MPLX OKE LNG

Address 500 Woodward Avenue, Suite 2900, Detroit, MI, USA, 48226-1279

Website https://www.dtmidstream.com

DT Midstream Inc is an owner, operator, and developer of natural gas midstream interstate and intrastate pipelines; storage and gathering systems; and compression, treatment, and surface facilities. It provides multiple, integrated natural gas services to customers through interstate pipelines, intrastate pipelines, storage systems, lateral pipelines and related treatment plants and compression and surface facilities, and gathering systems and related treatment plants and compression and surface facilities. The segments of the group are Pipeline and Gathering. It generates maximum revenue from pipeline segment that includes interstate pipelines, storage systems, gathering lateral pipelines and compression and surface facilities.

83GF Score

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EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$144.59

Price

$113.88

GF Value

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