DT Midstream, Inc.

NYSE:DTM Stock Report

Market Cap: US$10.0b

DT Midstream Valuation

Is DTM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of DTM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: DTM ($102.73) is trading below our estimate of fair value ($134.03)

Significantly Below Fair Value: DTM is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DTM?

Key metric: As DTM is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for DTM. This is calculated by dividing DTM's market cap by their current earnings.
What is DTM's PE Ratio?
PE Ratio24.8x
EarningsUS$402.00m
Market CapUS$10.01b

Price to Earnings Ratio vs Peers

How does DTM's PE Ratio compare to its peers?

The above table shows the PE ratio for DTM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.4x
PAA Plains All American Pipeline
15.7x0.3%US$12.3b
HESM Hess Midstream
17.3x54.0%US$8.0b
AM Antero Midstream
19.1x16.7%US$7.5b
WES Western Midstream Partners
9.5x-0.9%US$14.4b
DTM DT Midstream
24.8x7.2%US$10.0b

Price-To-Earnings vs Peers: DTM is expensive based on its Price-To-Earnings Ratio (24.8x) compared to the peer average (15.4x).

Price to Earnings Ratio vs Industry

How does DTM's PE Ratio compare vs other companies in the US Oil and Gas Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AXAS Abraxas Petroleum
0.09xn/aUS$10.27m
BYRO.F Byron Energy
0.03x-10.3%US$312.17k
USOP.Y U.S. Oil and Gas
n/an/aUS$6.00
No more companies available in this PE range
DTM 24.8xIndustry Avg. 11.7xNo. of Companies15PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DTM is expensive based on its Price-To-Earnings Ratio (24.8x) compared to the US Oil and Gas industry average (11.8x).

Price to Earnings Ratio vs Fair Ratio

What is DTM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

DTM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.8x
Fair PE Ratio11.8x

Price-To-Earnings vs Fair Ratio: DTM is expensive based on its Price-To-Earnings Ratio (24.8x) compared to the estimated Fair Price-To-Earnings Ratio (11.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst DTM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$102.73
US$86.17
-16.1%
9.7%US$100.00US$69.71n/a10
Nov ’25US$88.96
US$85.34
-4.1%
10.9%US$100.00US$66.00n/a11
Oct ’25US$78.85
US$75.61
-4.1%
7.3%US$87.00US$66.00n/a11
Sep ’25US$78.59
US$73.79
-6.1%
10.3%US$87.00US$60.00n/a11
Aug ’25US$74.86
US$72.06
-3.7%
10.1%US$87.00US$60.00n/a11
Jul ’25US$70.22
US$66.06
-5.9%
8.7%US$77.00US$52.00n/a11
Jun ’25US$67.08
US$64.70
-3.5%
7.3%US$70.00US$52.00n/a11
May ’25US$61.63
US$63.67
+3.3%
7.2%US$70.00US$52.00n/a11
Apr ’25US$61.20
US$59.60
-2.6%
7.2%US$65.00US$49.00n/a10
Mar ’25US$57.71
US$59.30
+2.8%
6.7%US$63.00US$49.00n/a10
Feb ’25US$53.98
US$57.82
+7.1%
7.1%US$63.00US$48.00n/a11
Jan ’25US$54.80
US$58.10
+6.0%
6.8%US$63.00US$48.00n/a10
Dec ’24US$57.47
US$57.60
+0.2%
6.2%US$62.00US$48.00n/a10
Nov ’24US$55.34
US$56.80
+2.6%
7.0%US$60.00US$46.00US$88.9610
Oct ’24US$52.92
US$56.75
+7.2%
3.0%US$59.00US$54.00US$78.858
Sep ’24US$52.60
US$56.75
+7.9%
3.0%US$59.00US$54.00US$78.598
Aug ’24US$52.00
US$56.75
+9.1%
3.0%US$59.00US$54.00US$74.868
Jul ’24US$49.57
US$56.75
+14.5%
3.3%US$60.00US$54.00US$70.228
Jun ’24US$46.16
US$56.75
+22.9%
3.3%US$60.00US$54.00US$67.088
May ’24US$49.02
US$57.13
+16.5%
3.7%US$60.00US$54.00US$61.638
Apr ’24US$49.37
US$59.25
+20.0%
5.7%US$64.00US$54.00US$61.208
Mar ’24US$50.23
US$60.13
+19.7%
6.1%US$64.00US$54.00US$57.718
Feb ’24US$54.65
US$61.38
+12.3%
5.0%US$64.00US$54.00US$53.988
Jan ’24US$55.26
US$62.50
+13.1%
6.3%US$67.00US$54.00US$54.808
Dec ’23US$60.36
US$64.14
+6.3%
4.9%US$68.00US$58.00US$57.477
Nov ’23US$60.68
US$64.00
+5.5%
4.6%US$68.00US$58.00US$55.348

Analyst Forecast: Target price is lower than the current share price.

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