DTE Energy (DTE) FY2020 results: revenue $11.4 billion, down 6.1% on the year
DTE Energy Co. (DTE) reported revenue of $11.4 billion for fiscal 2020, the year ended 31 December 2020, down 6.1% on the year before. Net income was $1.4 billion, up 17.0%, and diluted earnings per share $7.08. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$11.4 billion
-6.1% on the year
FY2013FY2020
Operating margin
13.6%
11.8% a year earlier
FY2013FY2020
Net income
$1.4 billion
+17.0% on the year
FY2013FY2020
Diluted EPS
$7.08
+12.2% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
11,423
12,168
14,212
-6.1%
Operating income
1,555
1,430
1,594
+8.7%
Operating margin
13.6%
11.8%
11.2%
Interest expense
601
568
559
+5.8%
Pre-tax income
1,082
1,013
1,216
+6.8%
Income tax
37.0
71.0
98.0
-47.9%
Effective tax rate
3.4%
7.0%
8.1%
Net income
1,368
1,169
1,120
+17.0%
Net margin
12.0%
9.6%
7.9%
Diluted EPS
$7.08
$6.31
$6.17
+12.2%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
3,697
2,649
2,680
+39.6%
Cash from investing
-4,070
-5,732
-3,347
Cash from financing
796
3,100
654
-74.3%
Depreciation and amortisation
1,292
1,169
1,124
+10.5%
Buybacks
0.0
0.0
0.0
Dividends paid
760
692
620
+9.8%
Dividend per share
$4.12
$3.85
$3.60
+7.0%
Diluted shares, weighted
193m
185m
181m
+4.3%
Shares outstanding at period end
194m
192m
182m
+0.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
12,425
11,672
10,237
+6.5%
Non-controlling interest
164
164
480
0.0%
Short-term borrowings
38.0
828
609
-95.4%
Debt
19,603
16,755
13,746
+17.0%
Operating lease liabilities
83.0
127
n/a
-34.6%
Finance lease liabilities
24.0
11.0
7.0
+118.2%
Other liabilities
13,159
12,711
11,209
+3.5%
Total liabilities and equity
45,496
42,268
36,288
+7.6%
Fixed assets
24,499
25,317
21,650
-3.2%
Goodwill
1,993
2,464
2,293
-19.1%
Intangible assets
199
2,393
849
-91.7%
Investments
2,228
3,788
3,368
-41.2%
Cash and equivalents
472
93.0
71.0
+407.5%
Receivables
1,542
1,642
1,789
-6.1%
Other assets
14,563
6,571
6,268
+121.6%
Total assets
45,496
42,268
36,288
+7.6%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.