CMS Energy Corporation (CMS) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 705M | 478M | 343M | 414M | 1B | 403M | 304M | 707M | 956M | 405M | 199M | 665M | 1.04B | 188M | -392M | 352M | 707M | 336M | 116M | 535M |
| Operating CF Growth % | -29.5% | 18.61% | 12.83% | -41.44% | 4.6% | -0.49% | 52.76% | 6.32% | -8.08% | 115.43% | 150.77% | 88.92% | 47.1% | -44.05% | -437.93% | -34.21% | -15.02% | 154.55% | -66.67% | -10.08% |
| Operating CF / Revenue % | 25.82% | 21.41% | 16.97% | 22.52% | 40.87% | 20.26% | 17.44% | 44% | 43.93% | 20.77% | 11.89% | 42.77% | 45.53% | 8.25% | -19.37% | 18.33% | 29.78% | 16.53% | 6.72% | 34.34% |
| Net Income | 340M | 242M | 210M | 201M | 304M | 265M | 253M | 198M | 287M | 309M | 176M | 197M | 204M | 171M | 165M | 148M | 349M | 119M | 159M | 158M |
| Depreciation & Amortization | 412M | 342M | 284M | 288M | 388M | 326M | 273M | 273M | 368M | 310M | 262M | 255M | 353M | 296M | 243M | 242M | 345M | 282M | 250M | 244M |
| Deferred Taxes | 82M | 31M | 33M | 64M | 60M | 39M | 24M | 28M | 51M | 61M | 25M | 42M | 29M | 31M | 19M | 6M | 33M | 139M | 35M | 27M |
| Other Non-Cash Items | -118M | -33M | 43M | -106M | -55M | -79M | -51M | -87M | -60M | -139M | -52M | -110M | -29M | -3M | -29M | -17M | -31M | -131M | -106M | -24M |
| Working Capital Changes | -11M | -104M | -227M | -33M | 303M | -148M | -195M | 295M | 310M | -136M | -212M | 281M | 483M | -307M | -790M | -27M | 11M | -73M | -222M | 130M |
| Capital Expenditures | -1.04B | -1.07B | -978M | -884M | -888M | -918M | -806M | -681M | -613M | -608M | -614M | -1.38B | -617M | -636M | -650M | -568M | -520M | -634M | -564M | -441M |
| CapEx / Revenue % | 38.06% | 48.1% | 67.29% | 48.1% | 36.29% | 46.15% | 46.24% | 42.38% | 28.17% | 31.18% | 36.7% | 88.75% | 27.01% | 27.92% | 32.11% | 29.58% | 21.9% | 31.19% | 32.7% | 28.31% |
| CapEx / D&A | 2.52x | 3.14x | 4.79x | 3.07x | 2.29x | 2.82x | 2.95x | 2.49x | 1.67x | 1.96x | 2.34x | 5.41x | 1.75x | 2.15x | 2.67x | 2.35x | 1.51x | 2.25x | 2.26x | 1.81x |
| CapEx Coverage (OCF/CapEx) | 0.68x | 0.45x | 0.25x | 0.47x | 1.13x | 0.44x | 0.38x | 1.04x | 1.56x | 0.67x | 0.32x | 0.48x | 1.69x | 0.30x | -0.60x | 0.62x | 1.36x | 0.53x | 0.21x | 1.21x |
| Cash from Investing | -1.07B | -1.11B | -1.05B | -962M | -918M | -948M | -855M | -609M | -637M | -649M | -658M | -1.43B | -645M | -666M | -669M | -600M | -539M | 227M | -608M | -568M |
| Acquisitions | 0 | 4M | -124M | 0 | 0 | 5M | 0 | 124M | 0 | 0 | 0 | 0 | 6M | -3M | 0 | 0 | 5M | 0 | 1M | 0 |
| Purchase of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sale of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -34M | -38M | 438M | -78M | -30M | -35M | -49M | -52M | -24M | -41M | -44M | -48M | -34M | -27M | -19M | -32M | -24M | 861M | -45M | -127M |
| Cash from Financing | 16M | 813M | 210M | 947M | 266M | 256M | 229M | -170M | 294M | 308M | 237M | 571M | 21M | 465M | 1.16B | -130M | -170M | -323M | 436M | -199M |
| Dividends Paid | -178M | -167M | -165M | -165M | -166M | -156M | -156M | -158M | -156M | -144M | -145M | -145M | -145M | -136M | -137M | -137M | -136M | -129M | -127M | -127M |
| Dividend Payout Ratio % | 52.35% | 57.79% | 59.57% | 82.09% | 54.61% | 58.87% | 61.66% | 79.8% | 54.36% | 46.6% | 82.39% | 73.23% | 71.08% | 79.53% | 83.03% | 92.57% | 38.53% | 20.19% | 67.2% | 72.16% |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | -1000K | -1000K | 1000K | -1000K |
| Stock Issued | 166M | 152M | 356M | 14M | 3M | 3M | 4M | 7M | 272M | 182M | 3M | 3M | 4M | 59M | 3M | 3M | 4M | 3M | 227M | 11M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -26M | -4M | 0 | -27M | 11M | -8M | -6M | -10M | -9M | 64M | 13M | -22M | -23M | -14M | -10M | 48M | -35M | -15M | 36M | -67M |
| Net Change in Cash | -352M | 183M | -493M | 399M | 348M | -289M | -322M | -72M | 613M | 64M | -222M | -192M | 416M | -13M | 99M | -378M | -2M | 344M | -39M | -353M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 104M | 17M | -121M |
| Cash at Beginning | 615M | 432M | 925M | 526M | 178M | 467M | 789M | 861M | 248M | 184M | 406M | 598M | 182M | 195M | 96M | 474M | 476M | 132M | 171M | 524M |
| Cash at End | 263M | 615M | 432M | 925M | 526M | 178M | 467M | 789M | 861M | 248M | 184M | 406M | 598M | 182M | 195M | 96M | 474M | 476M | 132M | 171M |
| Free Cash Flow | -334M | -596M | -635M | -470M | 112M | -515M | -502M | 26M | 343M | -203M | -415M | -715M | 423M | -448M | -1.04B | -216M | 187M | -298M | -448M | 94M |
| FCF Growth % | -398.21% | -15.73% | -26.49% | -1907.69% | -67.35% | -153.69% | -20.96% | 103.64% | -18.91% | 54.69% | 60.17% | -231.02% | 126.2% | -50.34% | -132.59% | -329.79% | -52.78% | 38.68% | -11.72% | -45.98% |
| FCF Margin % | -12.23% | -26.69% | -31.42% | -25.57% | 4.58% | -25.89% | -28.8% | 1.62% | 15.76% | -10.41% | -24.81% | -45.98% | 18.52% | -19.67% | -51.48% | -11.25% | 7.88% | -14.66% | -25.97% | 6.03% |
| FCF / Net Income % | -98.24% | -206.23% | -229.24% | -233.83% | 36.84% | -194.34% | -198.42% | 13.13% | 119.51% | -65.7% | -235.8% | -361.11% | 207.35% | -261.99% | -631.52% | -145.95% | 52.97% | -46.64% | -237.04% | 53.41% |