Listed above are some of the financial ratios for DTE, Inc, an electric and gas utility operating in the Michigan area. Also provided are industry ratios for the same period of time. Compare the company with the industry and present an analysis of significant issues and trends that you notice.

A B C D E F G H I J K L M N O P Q R S T U Financial Ratio 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 1 Current Ratio - Times 2 DTE 0.51 0.50 0.55 0.68 0.91 0.90 0.92 0.89 0.82 0.82 0.88 0.86 0.94 0.99 0.95 0.95 0.94 1.09 1.10 3 Industry 1.50 1.50 1.30 1.30 1.20 1.20 1.20 1.10 1.30 Not Avail. 1.20 1.20 Not Avail. 1.20 1.10 1.10 Not Avail. 4 5 Quick Ratio - Times 6 DTE 0.23 0.21 0.24 0.30 0.56 0.60 0.62 0.64 0.60 0.84 0.78 0.73 0.78 0.83 0.85 0.82 0.84 0.99 0.97 7 Industry 0.80 0.80 0.70 0.70 0.60 0.60 0.60 0.60 0.80 Not Avail. 0.60 0.60 Not Avail. 0.60 0.50 0.60 Not Avail. 8 9 Days Receivable 10 DTE 21.90 21.10 20.10 20.30 41.60 44.10 42.90 40.80 42.60 45.60 39.60 48.80 45.40 45.60 52.10 57.80 71.20 65.10 65.40 11 Industry 33.60 32.50 32.10 34.00 34.30 36.90 36.10 38.30 33.80 Not Avail. 34.70 35.00 Not Avail. 34.70 34.30 33.20 Not Avail. 12 13 Total Asset Turnover - % 14 DTE 34.85 34.15 34.26 33.16 31.81 32.87 32.92 33.85 36.21 38.75 44.82 35.14 34.01 34.57 33.84 40.43 38.29 35.80 38.59 32.85 15 Industry 38.25 45.91 40.17 40.52 34.55 30.82 41.61 44.21 47.64 Not Avail. 41.61 41.05 Not Avail. 44.70 44.44 44.80 Not Avail. 16 17 Debt Ratio - % 18 DTE 71.96 69.41 66.55 66.98 66.28 66.19 67.42 66.98 69.41 68.26 68.29 76.13 76.27 74.48 73.95 75.28 75.41 75.36 75.45 73.90 19 Industry 59.50 58.60 59.40 57.80 69.00 57.60 60.90 61.90 60.20 Not Avail. 66.10 60.80 Not Avail. 64.00 62.40 66.20 Not Avail. 20 21 22 Times Interest Earned - Times DTE 2.89 3.25 3.43 3.35 3.46 2.90 3.27 2.87 2.60 2.42 1.46 2.08 1.92 Not Avail. 1.62 1.57 3.07 2.51 2.29 23 Industry 1.70 1.70 1.70 1.70 1.80 1.80 2.00 2.20 2.60 2.60 Not Avail. 1.30 1.40 0.80 1.00 1.10 1.80 Not Avail. Not Avail. 24 25 Profit Margin- % 26 DTE 13.39 14.89 15.68 13.81 11.09 11.17 8.48 11.08 9.90 10.22 8.36 5.74 9.39 7.40 6.06 5.95 4.80 11.42 5.85 6.68 27 Industry 7.10 7.70 7.90 7.70 7.30 7.20 7.20 5.20 5.30 Not Avail. 6.20 5.90 Not Avail. 6.20 6.40 5.90 Not Avail. 28 29 Return on Total Assets - % 30 DTE 4.67 5.09 5.37 4.58 3.53 3.67 2.79 3.75 3.80 3.96 3.75 2.02 3.19 2.56 2.05 2.41 1.84 4.09 2.26 2.18 31 Industry 3.20 3.50 3.30 3.30 3.30 3.00 3.00 2.60 2.90 Not Avail. 2.70 2.50 Not Avail. 2.90 2.80 2.70 Not Avail. 32 33 34 Return on Stockhldrs Eq. - % DTE 16.71 17.35 16.79 13.78 10.57 10.87 8.41 11.44 11.97 12.70 11.81 7.72 13.81 10.57 7.96 9.49 7.45 16.60 9.22 8.72 35 Industry 8.00 8.00 8.70 8.60 8.70 7.50 8.50 6.70 8.60 Not Avail. 7.00 6.60 Not Avail. 8.10 7.90 7.60 Not Avail. 36 37 38 Price Earnings Ratio - Times DTE 8.67 9.55 8.64 8.98 9.78 12.32 15.20 12.05 14.12 9.53 11.91 19.42 12.11 12.75 17.32 14.16 19.92 7.71 10.68 13.45 39 Industry Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. 40 41 Dividend Yield - % 42 DTE 6.23 5.35 5.98 6.80 7.89 5.97 6.36 5.94 4.78 6.48 5.29 4.91 4.44 5.22 4.78 4.77 4.30 4.82 5.94 4.86 43 Industry Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. Not Avail. 44 45 Listed above are some of the financial ratios for DTE, Inc, an electric and gas utility operating in the Michigan area. 46 Also provided are industry ratios for the same period of time. 47 Compare the company with the industry and present an analysis of significant issues and trends that you notice. 48