debt_leverage_profile
2.00x Total Debt / Equity (Elevated leverage)
High
SEC-XBRL
interest_rate_sensitivity
Each 20bps rate rise adds ~$40-60M annual interest expense on ~$20B long-term debt; regulated ROE adjustments partially offset via rate cases with 12-18 month lag
Inferred
Agent_Inference
geopolitical_supply_exposure
High intensity; European gas dependency on Russia exposed structural energy security vulnerabilities.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
Appalachian/Gulf natural gas pipeline corridors and Powder River Basin coal rail networks; disruptions directly threaten Michigan fuel supply reliability
Inferred
Agent_Inference
international_expansion_readiness
Near-zero; DTE derives >97% revenue from Michigan operations with negligible international exposure and no material sovereign currency risk
Inferred
Agent_Inference
geographic_footprint
Effectively no sovereign currency devaluation exposure; company is a Michigan-domiciled regulated utility with domestic-only operations
Inferred
Agent_Inference
commodity_exposure_profile
High intensity; commodities: Natural Gas, Coal, Uranium, Crude Oil, Copper (grid), Lithium (storage); geopolitical: European gas dependency on Russia exposed structural energy security vulnerabilities.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
NEXUS and Vector pipeline gas transportation agreements represent concentrated non-substitutable midstream input; single-fuel dependency on Michigan natural gas infrastructure is high
Inferred
Agent_Inference
business_model_type_primary
Cloud termination immaterial; DTE operates physical grid infrastructure with SCADA/OT systems on-premise; cloud outage causes billing/CRM disruption only, not operational failure
Inferred
Agent_Inference
business_model_type_secondary
Regulated electric and gas utility with non-regulated midstream and energy trading segment as secondary model; cloud dependency is administrative, not mission-critical
Inferred
Agent_Inference
switching_cost_profile
Minimal API coupling risk; DTE uses enterprise ERP (SAP) and grid management software but physical utility operations are not API-dependent; switching cost is implementation risk, not lock-in
Inferred
Agent_Inference
howey_test_risk_index
Low Howey risk; revenue from regulated utility rate-payers and gas distribution is not a security; no profit-sharing or investment-contract structure in primary revenue model
Inferred
Agent_Inference
regulatory_burden_tier
Very High
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Low GDPR exposure (no EU operations); moderate CCPA risk on Michigan residential customer data (~2.2M electric customers); Michigan-specific data privacy law compliance required
Inferred
Agent_Inference
antitrust_exposure_flag
Moderate; DTE holds regulated monopoly franchise in Southeast Michigan; FERC and MPSC oversight constrains abuse but market power in captive service territory is inherent
Inferred
Agent_Inference
regulatory_exposure_profile
Very High burden; regimes: FERC, NERC, EPA, NRC, State PUCs, DOE; Rate-case lag and clean-energy mandates compress returns on regulated asset base.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
~85% recurring via regulated tariff-based utility rates under multi-year rate orders; ~15% transactional via energy trading and non-regulated services
Inferred
Agent_Inference
monetization_vector
Regulated cost-of-service rate recovery from captive residential and commercial customers; supplemented by midstream pipeline capacity fees and energy trading margins
Inferred
Agent_Inference
pricing_architecture
Cost-of-service regulation sets rates; DTE files rate cases every 2-3 years; pricing stress test shows 12-18 month regulatory lag as primary vulnerability during cost spikes
Inferred
Agent_Inference
pricing_power_rating
Moderate; prices set by MPSC with allowed ROE ~9.5-10%; inflation pass-through permitted but requires regulatory approval, creating lag risk rather than structural pricing weakness
Inferred
Agent_Inference
target_gross_margin_bracket
Regulated utility gross margin ~35-40%; non-regulated midstream and trading segment margins ~15-25%; blended consolidated gross margin approximately 32-38%
Inferred
Agent_Inference
churn_vulnerability_index
Negligible free-rider risk; captive regulated monopoly with no customer choice for transmission/distribution; energy choice program exposes ~10% of commercial load to retail competition
Inferred
Agent_Inference
headcount_cost_structure
Revenue growth is sublinear to headcount; capital investment drives growth, not labor addition; doubling rate base requires ~20-30% more staff, not proportional headcount doubling
Inferred
Agent_Inference
marginal_cost_of_growth
Capital-intensive, not labor-intensive; marginal cost of growth is driven by grid infrastructure capex (~$3B+ annual); incremental revenue per employee improves at scale
Inferred
Agent_Inference
franchise_compliance_risk
Not applicable; DTE operates under regulated utility franchise, not a franchise network business model
Inferred
Agent_Inference
customer_acquisition_metric
Not applicable at 10x scale; DTE serves captive regulated territory; customer growth tied to Michigan population/economic growth, not scalable acquisition economics
Inferred
Agent_Inference
network_effect_present
No traditional network effect; utility value does not increase with more users; grid reliability marginally improves with distributed resource integration but is not a defensible network moat
Inferred
Agent_Inference
asset_efficiency_ratio
2.9% Return on Assets (Excellent)
High
SEC-XBRL
recession_resistance_tier
Tier 1 recession resistant; essential utility services with inelastic demand; regulated revenue recovery mechanisms protect earnings; dividend maintained through 2008-2009 downturn
Inferred
Agent_Inference
customer_segment_primary
Residential electric and gas customers (~2.2M electric, ~1.3M gas) in Southeast Michigan; no single customer exceeds ~5% of regulated revenue
Inferred
Agent_Inference
customer_segment_secondary
Commercial and industrial customers including automotive manufacturers (GM, Ford, Stellantis) represent meaningful C&I load concentration in Michigan industrial base
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "17-0000 Architecture and Engineering Occupations", "23-0000 Legal Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "47-0000 Construction and Extraction Occupations", "49-0000 Installation, Maintenance, and Repair Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.34 (HIL — ~34% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
Capital actively reallocating toward grid modernization, renewables (~15GW clean energy target by 2035), and storage; legacy coal asset retirement accelerating; forward-looking capex mix shifting ~60% to clean infrastructure by 2028
Inferred
Agent_Inference
sec_cik
0000936340
High
SEC-EDGAR
ticker
DTE
High
SEC-EDGAR