This study develops a new analysis of a dual active bridge (DAB) DC-DC converter (modulated by single-phase-shift modulation) incorporating finite magnetizing inductance. By using the T-type transformer electric circuit model, the analysis in this study is simplified to comprehend the effects of non-ideal transformer inductances. Then, based on the developed analytical equations, it proposes a new methodology for design optimization of the transformer\'s magnetizing inductance, turns ratio, and primary and secondary side inductances, considering mass and loss trade-offs. The proposed theory is validated through simulation and experimental tests will be included in the final paper.