DTE Energy (DTE) FY2019 results: revenue $12.2 billion, down 14.4% on the year
DTE Energy Co. (DTE) reported revenue of $12.2 billion for fiscal 2019, the year ended 31 December 2019, down 14.4% on the year before. Net income was $1.2 billion, up 4.4%, and diluted earnings per share $6.31. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2020.
Revenue
$12.2 billion
-14.4% on the year
FY2012FY2019
Operating margin
11.8%
11.2% a year earlier
FY2012FY2019
Net income
$1.2 billion
+4.4% on the year
FY2012FY2019
Diluted EPS
$6.31
+2.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
12,168
14,212
12,607
-14.4%
Operating income
1,430
1,594
1,711
-10.3%
Operating margin
11.8%
11.2%
13.6%
Interest expense
568
559
536
+1.6%
Pre-tax income
1,013
1,216
1,287
-16.7%
Income tax
71.0
98.0
175
-27.6%
Effective tax rate
7.0%
8.1%
13.6%
Net income
1,169
1,120
1,134
+4.4%
Net margin
9.6%
7.9%
9.0%
Diluted EPS
$6.31
$6.17
$6.32
+2.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,649
2,680
2,117
-1.2%
Cash from investing
-5,732
-3,347
-2,564
Cash from financing
3,100
654
421
+374.0%
Depreciation and amortisation
1,169
1,124
1,030
+4.0%
Buybacks
0.0
0.0
51.0
Dividends paid
692
620
592
+11.6%
Dividend per share
$3.85
$3.60
$3.36
+6.9%
Diluted shares, weighted
185m
181m
179m
+2.2%
Shares outstanding at period end
192m
182m
179m
+5.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
11,672
10,237
9,512
+14.0%
Non-controlling interest
164
480
478
-65.8%
Short-term borrowings
828
609
621
+36.0%
Debt
16,755
13,746
12,407
+21.9%
Operating lease liabilities
127
n/a
n/a
Finance lease liabilities
11.0
7.0
n/a
+57.1%
Other liabilities
12,711
11,209
10,749
+13.4%
Total liabilities and equity
42,268
36,288
33,767
+16.5%
Fixed assets
25,317
21,650
20,721
+16.9%
Goodwill
2,464
2,293
2,293
+7.5%
Intangible assets
2,393
849
867
+181.9%
Investments
3,788
3,368
2,797
+12.5%
Cash and equivalents
93.0
71.0
66.0
+31.0%
Receivables
1,642
1,789
1,758
-8.2%
Other assets
6,571
6,268
5,265
+4.8%
Total assets
42,268
36,288
33,767
+16.5%
10-K for the year ended 31 December 2019, filed 5 February 2020: the filing.