DTE Energy vs PG&E
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KIRA’s take AI analyst
I put DTE Energy and PG&E side by side, using each one’s latest annual report. Here is what stands out:
- PG&E is the larger business, with $24.9B of revenue in fiscal 2025 against $15.8B for DTE Energy, about 1.6 times as much.
- DTE Energy grew revenue faster (27.0%, against 2.1%).
- PG&E kept more of each dollar of sales as operating profit (19.1% operating margin, against 15.0%).
- DTE Energy earned a higher return on the capital invested in it (6.1%, against 5.4%).
- Investors pay more for each dollar of DTE Energy’s earnings: a P/E of 21.7x against 9.3x for PG&E.
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
DTE Energy
DTE
6/8
Revenue growth5-year growthReturn on capitalReturn on equityPiotroski F-scoreShare count change
PG&E
PCG
2/8
Operating marginNet margin
Side by side
Best in the row
| Latest fiscal year | DTE FY25 | PCG FY25 |
|---|---|---|
| Size | ||
| Market cap | $27.4B | $29.4B |
| Revenue | $15.8B | $24.9B |
| Free cash flow | — | −$3.1B |
| Net income | $1.5B | $2.7B |
| Growth | ||
| Revenue growth | 27.0% | 2.1% |
| 5-year growth | 6.7% | 6.2% |
| Share count change | 0.0% | 2.6% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 15.0% | 19.1% |
| Net margin | 9.2% | 10.8% |
| FCF margin | — | −12.3% |
| Return on capital | 6.1% | 5.4% |
| Return on equity | 12.2% | 8.6% |
| Balance sheet | ||
| Net debt | $26.0B | $59.4B |
| Net debt / EBITDA | 6.2x | — |
| Dividends and buybacks | $871M | $0.0M |
| Valuation & quality | ||
| P/E | 21.7x | 9.3x |
| Piotroski F-score | 6 | 4 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.