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CMS Energy Corporation(CMS)Earnings, Financials & Key Ratios
CMS•NYSE•Utilities
$74.05
$22.88B mkt cap·21.0× P/E·Price updated May 6, 2026
AboutCMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources. Its distribution system comprises 208 miles of high-voltage distribution overhead lines; 4 miles of high-voltage distribution underground lines; 4,428 miles of high-voltage distribution overhead lines; 19 miles of high-voltage distribution underground lines; 82,474 miles of electric distribution overhead lines; 9,395 miles of underground distribution lines; 1,093 substations; and 3 battery facilities. The Gas Utility segment engages in the purchase, transmission, storage, distribution, and sale of natural gas, which includes 2,392 miles of transmission lines; 15 gas storage fields; 28,065 miles of distribution mains; and 8 compressor stations. The Enterprises segment is involved in the independent power production and marketing, including the development and operation of renewable generation. It serves 1.9 million electric and 1.8 million gas customers, including residential, commercial, and diversified industrial customers. The company was incorporated in 1987 and is headquartered in Jackson, Michigan.Show more
- Revenue$8.54B+13.6%
- EBITDA$2.88B+5.5%
- Net Income$1.07B+6.8%
- Free Cash Flow-$1.59B-145.2%
- EBITDA Margin33.69%-7.2%
- Net Margin12.54%-6.0%
- ROE11.6%-2.4%
- Interest Coverage2.58-0.2%
- Debt/Equity1.95+2.8%
- Net Debt/EBITDA6.37+5.3%
- CapEx / Revenue44.78%+11.5%
- CapEx Coverage0.58-25.6%
CMS Key Insights
CMS Energy Corporation (CMS) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓19 years of consecutive dividend growth
- ✓19 consecutive years of dividend growth
- ✓Healthy dividend yield of 3.0%
✗Weaknesses
- ✗High leverage: 6.6x Debt/EBITDA
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
CMS Price & Volume
CMS Energy Corporation (CMS) stock price & volume — 10-year historical chart
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CMS Growth Metrics
CMS Energy Corporation (CMS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years2.84%
5 Years5.88%
3 Years-0.22%
TTM13.31%
Profit CAGR
10 Years7.43%
5 Years7.24%
3 Years8.56%
TTM8.53%
EPS CAGR
10 Years6.45%
5 Years5.98%
3 Years7.39%
TTM7.99%
Return on Capital
10 Years5.15%
5 Years4.53%
3 Years4.63%
Last Year4.99%
CMS Recent Earnings
CMS Energy Corporation (CMS) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
Apr 28, 2026EPS
$1.13
Est $1.11
+1.8%
Revenue
$2.7B
Est $2.5B
+11.1%
Q1 2026
Feb 5, 2026EPS
$0.95
Est $0.93
+1.8%
Revenue
$2.2B
Est $1.9B
+18.6%
Q4 2025
Oct 30, 2025EPS
$0.93
Est $0.86
+8.1%
Revenue
$2.0B
Est $1.8B
+9.5%
Q3 2025
Jul 31, 2025EPS
$0.71
Est $0.68
+4.4%
Revenue
$1.8B
Est $1.7B
+5.8%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $1.13vs $1.11+1.8% | $2.7Bvs $2.5B+11.1% |
| Q1 2026 | Feb 5, 2026 | $0.95vs $0.93+1.8% | $2.2Bvs $1.9B+18.6% |
| Q4 2025 | Oct 30, 2025 | $0.93vs $0.86+8.1% | $2.0Bvs $1.8B+9.5% |
| Q3 2025 | Jul 31, 2025 | $0.71vs $0.68+4.4% | $1.8Bvs $1.7B+5.8% |
Based on last 12 quarters of dataView full earnings history →
CMS Peer Comparison
CMS Energy Corporation (CMS) competitors in Electric and gas combination utilities — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 WEC | 37.11B | 113.94 | 23.59 | 13.96% | 16.25% | 11.64% | 1.59 | |
 EVRG | 18.65B | 80.99 | 22.13 | 2.37% | 14.63% | 8.22% | 0.07 | |
 NWE | 4.37B | 71.08 | 24.18 | 6.38% | 10.21% | 5.8% | 1.14 | |
 OTTR | 3.73B | 88.89 | 13.57 | -1.99% | 21.34% | 15.21% | 0.59 | |
 AVA | 3.35B | 40.58 | 17.05 | 1.34% | 9.83% | 7.25% | 1.25 | |
 NI | 22.72B | 47.48 | 24.35 | 21.76% | 14.1% | 8.4% | 1.39 | |
 ALE | 3.94B | 67.90 | 21.89 | -18.62% | 11.04% | 4.96% | 0.53 | |
 DTE | 29.63B | 142.44 | 20.18 | 26.95% | 7.75% | 10.43% | 2.16 |
Compare CMS vs Peers
CMS Energy Corporation (CMS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
CMS Income Statement
CMS Energy Corporation (CMS) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6.58B | 6.87B | 6.62B | 6.42B | 7.33B | 8.6B | 7.46B | 7.51B | 8.54B | 8.82B |
| Revenue Growth % | 2.88% | 4.41% | -3.62% | -3.11% | 14.19% | 17.29% | -13.19% | 0.71% | 13.63% | 13.31% |
| Cost of Revenue | 4.08B | 4.47B | 4.19B | 3.79B | 4.68B | 5.83B | 4.6B | 4.31B | 3.34B | 3.12B |
| Gross Profit | 2.5B▲ 0% | 2.4B▼ 4.2% | 2.44B▲ 1.5% | 2.63B▲ 8.0% | 2.65B▲ 0.7% | 2.76B▲ 4.3% | 2.86B▲ 3.6% | 3.21B▲ 12.1% | 5.2B▲ 62.1% | 5.7B▲ 0% |
| Gross Margin % | 38.02% | 34.89% | 36.76% | 40.98% | 36.14% | 32.13% | 38.35% | 42.7% | 60.91% | 64.61% |
| Gross Profit Growth % | 6.6% | -4.2% | 1.54% | 8.01% | 0.72% | 4.27% | 3.62% | 12.12% | 62.08% | - |
| Operating Expenses | 1.17B | 1.24B | 1.32B | 1.4B | 1.5B | 1.54B | 1.63B | 1.72B | 3.47B | 3.98B |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| EBITDA | 2.22B | 2.1B | 2.1B | 2.27B | 2.26B | 2.35B | 2.42B | 2.73B | 2.88B | 2.9B |
| EBITDA Margin % | 33.71% | 30.48% | 31.76% | 35.42% | 30.84% | 27.34% | 32.36% | 36.29% | 33.69% | 32.84% |
| EBITDA Growth % | 7.35% | -5.59% | 0.43% | 8.03% | -0.57% | 3.98% | 2.77% | 12.92% | 5.5% | 1.97% |
| Depreciation & Amortization | 881M | 933M | 989M | 1.04B | 1.11B | 1.13B | 1.18B | 1.24B | 1.15B | 1.17B |
| D&A / Revenue % | 13.38% | 13.57% | 14.93% | 16.25% | 15.2% | 13.1% | 15.81% | 16.5% | 13.47% | 13.31% |
| Operating Income (EBIT) | 1.34B▲ 0% | 1.16B▼ 13.2% | 1.11B▼ 4.0% | 1.23B▲ 10.3% | 1.15B▼ 6.8% | 1.22B▲ 6.8% | 1.24B▲ 0.9% | 1.49B▲ 20.4% | 1.73B▲ 16.1% | 1.72B▲ 0% |
| Operating Margin % | 20.33% | 16.91% | 16.83% | 19.16% | 15.64% | 14.24% | 16.55% | 19.79% | 20.22% | 19.53% |
| Operating Income Growth % | 6.53% | -13.15% | -4.04% | 10.31% | -6.83% | 6.81% | 0.9% | 20.4% | 16.14% | - |
| Interest Expense | 438M | 458M | 460M | 505M | 500M | 519M | 643M | 708M | 789M | 4M |
| Interest Coverage | 3.02x | 2.69x | 2.66x | 2.60x | 2.65x | 2.74x | 2.48x | 2.59x | 2.58x | - |
| Interest / Revenue % | 6.65% | 6.66% | 6.94% | 7.87% | 6.82% | 6.04% | 8.62% | 9.42% | 9.24% | 0.05% |
| Non-Operating Income | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -4M |
| Pretax Income | 886M▲ 0% | 774M▼ 12.6% | 764M▼ 1.3% | 809M▲ 5.9% | 823M▲ 1.7% | 902M▲ 9.6% | 954M▲ 5.8% | 1.12B▲ 17.7% | 1.25B▲ 11.1% | 1.25B▲ 0% |
| Pretax Margin % | 13.46% | 11.26% | 11.53% | 12.61% | 11.23% | 10.49% | 12.78% | 14.94% | 14.62% | 14.19% |
| Income Tax | 424M | 115M | 131M | 115M | 95M | 93M | 147M | 176M | 246M | 268M |
| Effective Tax Rate % | 47.86% | 14.86% | 17.15% | 14.22% | 11.54% | 10.31% | 15.41% | 15.67% | 19.71% | 21.41% |
| Net Income | 460M▲ 0% | 657M▲ 42.8% | 680M▲ 3.5% | 755M▲ 11.0% | 1.35B▲ 79.2% | 837M▼ 38.1% | 887M▲ 6.0% | 1B▲ 13.1% | 1.07B▲ 6.8% | 1.11B▲ 0% |
| Net Margin % | 6.99% | 9.56% | 10.27% | 11.76% | 18.46% | 9.74% | 11.89% | 13.35% | 12.54% | 12.55% |
| Net Income Growth % | -16.52% | 42.83% | 3.5% | 11.03% | 79.21% | -38.14% | 5.97% | 13.08% | 6.78% | 8.53% |
| EPS (Diluted) | 1.64▲ 0% | 2.32▲ 41.5% | 2.39▲ 3.0% | 2.64▲ 10.5% | 4.66▲ 76.5% | 2.85▼ 38.8% | 3.01▲ 5.6% | 3.33▲ 10.6% | 3.53▲ 6.0% | 3.68▲ 0% |
| EPS Growth % | -17.17% | 41.46% | 3.02% | 10.46% | 76.52% | -38.84% | 5.61% | 10.63% | 6.01% | 7.99% |
| EPS (Basic) | 1.64 | 2.33 | 2.40 | 2.65 | 4.66 | 2.84 | 3.01 | 3.34 | 3.53 | - |
| Diluted Shares Outstanding | 280.8M | 282.9M | 284.3M | 286.3M | 289.5M | 290M | 291.7M | 298.3M | 300.57M | 300.57M |
CMS Balance Sheet
CMS Energy Corporation (CMS) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 23.05B | 24.53B | 26.84B | 29.67B | 28.75B | 31.35B | 33.52B | 35.92B | 40.39B | 40.28B |
| Asset Growth % | 6.6% | 6.42% | 9.41% | 10.54% | -3.08% | 9.04% | 6.9% | 7.17% | 12.44% | 42.33% |
| PP&E (Net) | 16.76B | 18.13B | 18.97B | 21.05B | 22.38B | 22.74B | 25.1B | 27.48B | 30.7B | 31.53B |
| PP&E / Total Assets % | 72.72% | 73.9% | 70.7% | 70.95% | 77.83% | 72.54% | 74.88% | 76.52% | 76.02% | 78.27% |
| Total Current Assets | 2.48B | 2.47B | 2.33B | 2.4B | 2.63B | 3.43B | 2.84B | 2.79B | 3.47B | 3.02B |
| Cash & Equivalents | 182M | 153M | 140M | 32M | 452M | 164M | 227M | 103M | 615M | 263M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Inventory | 672M | 650M | 605M | 576M | 667M | 1.12B | 938M | 769M | 791M | 642M |
| Other Current Assets | 39M | 58M | 50M | 488M | 70M | 75M | 224M | 304M | 743M | 704M |
| Long-Term Investments | 64M | 69M | 71M | 70M | 71M | 71M | 76M | 69M | 79M | 288M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 3.75B | 3.87B | 5.46B | 6.14B | 3.68B | 5.11B | 5.5B | 5.58B | 5.69B | 5.64B |
| Total Liabilities | 18.57B | 19.74B | 21.78B | 23.59B | 21.57B | 23.76B | 25.39B | 27.17B | 30.68B | 30.23B |
| Total Debt | 10.49B | 11.78B | 13.29B | 12.42B | 12.5B | 14.34B | 15.67B | 16.59B | 18.94B | 19.08B |
| Net Debt | 10.3B | 11.62B | 13.15B | 12.39B | 12.05B | 14.18B | 15.44B | 16.49B | 18.32B | 18.82B |
| Long-Term Debt | 9.12B | 10.62B | 11.95B | 11.74B | 12.05B | 13.12B | 14.51B | 15.19B | 17.83B | 17.46B |
| Short-Term Borrowings | 1.25B | 1.07B | 1.2B | 587M | 376M | 1.11B | 1.07B | 1.26B | 959M | 1.36B |
| Capital Lease Obligations | 113M | 91M | 141M | 92M | 80M | 108M | 93M | 140M | 154M | 692M |
| Total Current Liabilities | 2.78B | 2.62B | 2.7B | 3.07B | 2.2B | 2.98B | 2.9B | 3.52B | 3.55B | 3.59B |
| Accounts Payable | 740M | 733M | 635M | 668M | 886M | 936M | 809M | 1.09B | 1.4B | 1.24B |
| Accrued Expenses | 463M | 492M | 541M | 558M | 622M | 660M | 754M | 810M | 0 | 387M |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 308M | 306M | 299M | 1.25B | 311M | 266M | 255M | 355M | 1.19B | 994M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 13.77B |
| Other Liabilities | 6.57B | 6.43B | 7.01B | 8.69B | 7.24B | 5.02B | 5.19B | 5.3B | 5.33B | 5.46B |
| Total Equity | 4.48B▲ 0% | 4.79B▲ 7.0% | 5.05B▲ 5.5% | 6.08B▲ 20.2% | 7.19B▲ 18.3% | 7.59B▲ 5.7% | 8.13B▲ 7.0% | 8.75B▲ 7.7% | 9.71B▲ 11.0% | 10.05B▲ 0% |
| Equity Growth % | 4.38% | 7.01% | 5.49% | 20.22% | 18.28% | 5.66% | 6.98% | 7.67% | 11.01% | 37.83% |
| Shareholders Equity | 4.44B | 4.75B | 5.02B | 5.5B | 6.63B | 7.01B | 7.54B | 8.23B | 9.14B | 9.47B |
| Minority Interest | 37M | 37M | 37M | 581M | 557M | 580M | 581M | 518M | 567M | 585M |
| Common Stock | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M |
| Additional Paid-in Capital | 5.02B | 5.09B | 5.11B | 5.37B | 5.41B | 5.49B | 5.71B | 6.01B | 6.51B | 6.67B |
| Retained Earnings | -531M | -271M | -25M | 214M | 1.06B | 1.35B | 1.66B | 2.04B | 2.44B | 2.6B |
| Accumulated OCI | -50M | -65M | -73M | -86M | -59M | -52M | -46M | -41M | -36M | -35M |
| Return on Assets (ROA) | 2.06% | 2.76% | 2.65% | 2.67% | 4.63% | 2.79% | 2.73% | 2.89% | 2.81% | 2.83% |
| Return on Equity (ROE) | 10.49% | 14.17% | 13.81% | 13.56% | 20.4% | 11.32% | 11.29% | 11.89% | 11.6% | 11.6% |
| Debt / Equity | 2.34x | 2.46x | 2.63x | 2.04x | 1.74x | 1.89x | 1.93x | 1.90x | 1.95x | 1.95x |
| Debt / Assets | 45.5% | 48.01% | 49.53% | 41.88% | 43.48% | 45.74% | 46.75% | 46.19% | 46.89% | 47.36% |
| Net Debt / EBITDA | 4.64x | 5.55x | 6.25x | 5.45x | 5.33x | 6.03x | 6.39x | 6.05x | 6.37x | 6.37x |
| Book Value per Share | 15.95 | 16.94 | 17.78 | 21.23 | 24.83 | 26.19 | 27.85 | 29.33 | 32.31 | 33.44 |
CMS Cash Flow Statement
CMS Energy Corporation (CMS) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 1.71B | 1.7B | 1.79B | 1.28B | 1.82B | 855M | 2.31B | 2.37B | 2.23B | 2.23B |
| Operating CF Growth % | 4.67% | -0.12% | 5.11% | -28.72% | 42.55% | -53% | 170.06% | 2.64% | -5.7% | -39.5% |
| Operating CF / Revenue % | 25.9% | 24.78% | 27.02% | 19.88% | 24.82% | 9.95% | 30.94% | 31.54% | 26.17% | 25.33% |
| Net Income | 460M | 657M | 680M | 697M | 751M | 833M | 886M | 1B | 1.07B | 1.11B |
| Depreciation & Amortization | 881M | 933M | 992M | 1.04B | 1.11B | 1.13B | 1.18B | 1.24B | 1.31B | 1.33B |
| Deferred Taxes | 417M | 182M | 150M | 170M | 249M | 89M | 157M | 142M | 202M | 210M |
| Other Non-Cash Items | 121M | -174M | 1M | -609M | -249M | -80M | -330M | -277M | -283M | -214M |
| Working Capital Changes | -174M | 105M | -33M | -25M | -46M | -1.11B | 416M | 262M | -61M | -375M |
| Capital Expenditures | -1.67B | -2.07B | -2.1B | -2.31B | -2.08B | -2.37B | -3.22B | -3.02B | -3.82B | -3.98B |
| CapEx / Revenue % | 25.29% | 30.18% | 31.76% | 36.01% | 28.33% | 27.62% | 43.14% | 40.16% | 44.78% | 49.39% |
| CapEx / D&A | 1.89x | 2.22x | 2.12x | 2.22x | 1.86x | 2.11x | 2.73x | 2.43x | 2.93x | 3.29x |
| CapEx Coverage (OCF/CapEx) | 1.02x | 0.82x | 0.85x | 0.55x | 0.88x | 0.36x | 0.72x | 0.79x | 0.58x | 0.51x |
| Cash from Investing | -1.87B | -2.61B | -2.82B | -2.84B | -1.23B | -2.47B | -3.38B | -3.05B | -4.03B | -4.19B |
| Acquisitions | 0 | 0 | 97M | 89M | 1M | 2M | 6M | 129M | 4M | -120M |
| Purchase of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sale of Investments | 0 | 146M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -203M | -532M | -809M | -614M | 843M | -102M | -167M | -160M | -214M | 288M |
| Cash from Financing | 110M | 874M | 1.01B | 1.59B | -296M | 1.32B | 1.14B | 609M | 2.24B | 1.99B |
| Dividends Paid | -377M | -407M | -436M | -467M | -509M | -546M | -579M | -626M | -663M | -675M |
| Dividend Payout Ratio % | 81.96% | 61.95% | 64.12% | 61.85% | 37.62% | 65.23% | 65.28% | 62.41% | 61.9% | - |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 4M |
| Stock Issued | 83M | 41M | 12M | 253M | 250M | 69M | 192M | 286M | 525M | 688M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 0 | 782M | -137M | -11M | 32M | -33M | -20M | -57M |
| Net Change in Cash | -55M▲ 0% | -25M▲ 54.5% | -17M▲ 32.0% | -108M▼ 535.3% | 427M▲ 495.4% | -294M▼ 168.9% | 66M▲ 122.4% | -70M▼ 206.1% | 437M▲ 724.3% | -263M▲ 0% |
| Exchange Rate Effect | -2M | 4M | 1M | -136M | 136M | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 254M | 199M | 174M | 157M | 49M | 476M | 182M | 248M | 178M | 615M |
| Cash at End | 199M | 174M | 157M | 49M | 476M | 182M | 248M | 178M | 615M | 263M |
| Free Cash Flow | 40M▲ 0% | -371M▼ 1027.5% | -314M▲ 15.4% | -1.03B▼ 229.6% | -257M▲ 75.2% | -1.52B▼ 491.1% | -910M▲ 40.1% | -648M▲ 28.8% | -1.59B▼ 145.2% | -2.04B▲ 0% |
| FCF Growth % | 193.02% | -1027.5% | 15.36% | -229.62% | 75.17% | -491.05% | 40.09% | 28.79% | -145.22% | -131.51% |
| FCF Margin % | 0.61% | -5.4% | -4.74% | -16.13% | -3.51% | -17.67% | -12.2% | -8.62% | -18.61% | -23.07% |
| FCF / Net Income % | 8.7% | -56.47% | -46.18% | -137.09% | -18.99% | -181.48% | -102.59% | -64.61% | -148.37% | -183.83% |
CMS Key Ratios
CMS Energy Corporation (CMS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 10.49% | 14.17% | 13.81% | 13.56% | 20.4% | 11.32% | 11.29% | 11.89% | 11.6% | 11.6% |
| EBITDA Margin | 33.71% | 30.48% | 31.76% | 35.42% | 30.84% | 27.34% | 32.36% | 36.29% | 33.69% | 32.84% |
| Net Debt / EBITDA | 4.64x | 5.55x | 6.25x | 5.45x | 5.33x | 6.03x | 6.39x | 6.05x | 6.37x | 6.37x |
| Interest Coverage | 3.02x | 2.69x | 2.66x | 2.60x | 2.65x | 2.74x | 2.48x | 2.59x | 2.58x | - |
| CapEx / Revenue | 25.29% | 30.18% | 31.76% | 36.01% | 28.33% | 27.62% | 43.14% | 40.16% | 44.78% | 49.39% |
| Dividend Payout Ratio | 81.96% | 61.95% | 64.12% | 61.85% | 37.62% | 65.23% | 65.28% | 62.41% | 61.9% | 60.98% |
| Debt / Equity | 2.34x | 2.46x | 2.63x | 2.04x | 1.74x | 1.89x | 1.93x | 1.90x | 1.95x | 1.95x |
| EPS Growth | -17.17% | 41.46% | 3.02% | 10.46% | 76.52% | -38.84% | 5.61% | 10.63% | 6.01% | 7.99% |
CMS SEC Filings & Documents
CMS Energy Corporation (CMS) SEC filings — annual & quarterly reports (10-K, 10-Q)
CMS Frequently Asked Questions
CMS Energy Corporation (CMS) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
CMS Energy Corporation (CMS) reported $8.82B in revenue for fiscal year 2025. This represents a 104% increase from $4.32B in 1996.
CMS Energy Corporation (CMS) grew revenue by 13.6% over the past year. This is steady growth.
Yes, CMS Energy Corporation (CMS) is profitable, generating $1.11B in net income for fiscal year 2025 (12.5% net margin).
Dividend & Returns
Yes, CMS Energy Corporation (CMS) pays a dividend with a yield of 2.98%. This makes it attractive for income-focused investors.
CMS Energy Corporation (CMS) has a return on equity (ROE) of 11.6%. This is reasonable for most industries.
CMS Energy Corporation (CMS) had negative free cash flow of $2.04B in fiscal year 2025, likely due to heavy capital investments.
Industry Metrics
CMS Energy Corporation (CMS) has a dividend payout ratio of 62%. This suggests the dividend is well-covered and sustainable.
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