DTE Energy Company (DTE)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 1,397,000 | 1,083,000 | 907,000 | 1,368,000 | 1,169,000 |
| Revenue | US$ in thousands | 12,745,000 | 19,228,000 | 14,964,000 | 12,177,000 | 12,669,000 |
| Net profit margin | 10.96% | 5.63% | 6.06% | 11.23% | 9.23% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $1,397,000K ÷ $12,745,000K
= 10.96%
Net profit margin is a key indicator of a company's profitability, representing the percentage of revenue that translates into net income after all expenses have been accounted for. In the case of DTE Energy Co., the trend of the net profit margin over the past five years shows some fluctuations.
In 2023, DTE Energy Co. achieved a net profit margin of 10.94%, a significant improvement from the previous year's margin of 5.62%. This suggests that the company was able to effectively control its expenses relative to its revenue, resulting in a higher proportion of revenue being converted into net income.
Comparing the 2023 net profit margin to the margins in 2021 and 2020, we see that it is higher than both years. This indicates that DTE Energy Co. performed better in terms of profitability in 2023 compared to those years.
However, when comparing the 2023 margin to that of 2019, we see that it is slightly lower. This suggests that although the company's profitability improved from the previous year, it has not yet reached the levels seen in 2019.
Overall, while DTE Energy Co. demonstrated improved profitability in 2023 compared to the previous year, there is a need to continue monitoring and analyzing the factors impacting the company's net profit margin to ensure sustained profitability in the future.
Peer comparison
Dec 31, 2023