CMS Energy Corporation (CMS) Earnings History
Steady Earner32 years of earnings data (1994–2025) · Positive but moderate multi-year EPS trajectory
Loading earnings history...
CMS Energy Corporation (CMS) Earnings Overview
As of June 22, 2026, CMS Energy Corporation (CMS) reported trailing twelve-month net income of $1.11B, reflecting +6.0% year-over-year growth. The company earned $3.68 per diluted share over the past four quarters, with a net profit margin of 12.5%.
Looking at the long-term picture, CMS's 5-year EPS compound annual growth rate (CAGR) stands at +6.0%, showing solid earnings momentum. The company achieved its highest annual net income of $1.35B in fiscal 2021.
CMS Energy Corporation maintains positive profitability with a gross margin of 60.9%, operating margin of 20.2%, and net margin of 12.5%. The company continues to generate positive earnings from operations. View revenue history →
Compared to peers including WEC ($1.64B net income, 15.9% margin), EVRG ($882M net income, 14.5% margin), NWE ($168M net income, 11.2% margin), CMS has room to improve margins relative to the peer group. Compare CMS vs WEC →
CMS Earnings vs Peers
Earnings metrics vs comparable public companies
CMS Historical Earnings Data (1994–2025)
32 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.07B | +6.8% | $1.73B | $3.53 | 12.5% | 20.2% |
| 2024 | $1.00B | +13.1% | $1.49B | $3.33 | 13.3% | 19.8% |
| 2023 | $887M | +6.0% | $1.24B | $3.01 | 11.9% | 16.6% |
| 2022 | $837M | -38.1% | $1.22B | $2.85 | 9.7% | 14.2% |
| 2021 | $1.35B | +79.2% | $1.15B | $4.66 | 18.5% | 15.6% |
| 2020 | $755M | +11.0% | $1.23B | $2.64 | 11.8% | 19.2% |
| 2019 | $680M | +3.5% | $1.11B | $2.39 | 10.3% | 16.8% |
| 2018 | $657M | +42.8% | $1.16B | $2.32 | 9.6% | 16.9% |
| 2017 | $460M | -16.5% | $1.34B | $1.64 | 7.0% | 20.3% |
| 2016 | $551M | +5.4% | $1.26B | $1.98 | 8.6% | 19.6% |
| 2015 | $523M | +9.6% | $1.18B | $1.89 | 8.1% | 18.2% |
| 2014 | $477M | +5.5% | $1.15B | $1.74 | 6.6% | 16.0% |
| 2013 | $452M | +18.3% | $1.14B | $1.66 | 6.9% | 17.4% |
| 2012 | $382M | -8.0% | $1.00B | $1.39 | 6.1% | 16.0% |
| 2011 | $415M | +22.1% | $1.00B | $1.57 | 6.4% | 15.4% |
| 2010 | $340M | +48.5% | $978M | $1.28 | 5.3% | 15.2% |
| 2009 | $229M | -22.4% | $698M | $0.91 | 3.7% | 11.2% |
| 2008 | $295M | +237.2% | $799M | $1.20 | 4.3% | 11.7% |
| 2007 | -$215M | -172.2% | -$88M | $-0.97 | -3.3% | -1.4% |
| 2006 | -$79M | +6.0% | -$222M | $-0.36 | -1.3% | -3.6% |
| 2005 | -$84M | -169.4% | -$501M | $-0.39 | -1.4% | -8.5% |
| 2004 | $121M | +368.9% | $591M | $0.64 | 2.2% | 10.8% |
| 2003 | -$45M | +93.1% | $431M | $-0.29 | -0.8% | 7.8% |
| 2002 | -$650M | -41.6% | -$17M | $-4.46 | -7.5% | -0.2% |
| 2001 | -$459M | -1375.0% | -$21M | $-4.17 | -5.7% | -0.3% |
| 2000 | $36M | -87.0% | $703M | $0.04 | 0.4% | 8.0% |
| 1999 | $277M | -2.8% | $891M | $2.17 | 4.7% | 15.0% |
| 1998 | $285M | +16.8% | $724M | $2.45 | 5.5% | 14.1% |
| 1997 | $244M | +8.9% | $716M | $2.61 | 5.1% | 15.0% |
| 1996 | $224M | +9.8% | $676M | $2.44 | 5.2% | 15.6% |
| 1995 | $204M | +14.0% | $619M | $2.26 | 5.2% | 15.9% |
| 1994 | $179M | - | $503M | $2.08 | 5.0% | 13.9% |
Download Data
Export CMS earnings history in CSV or JSON format
Free sign-in required to download data
Full Stock Analysis
Deep dive into CMS consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
32+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
CMS — Frequently Asked Questions
Quick answers to the most common questions about buying CMS stock.
What is CMS earnings per share (EPS)?
CMS trailing twelve-month (TTM) diluted EPS is $3.68, reflecting +6.0% year-over-year growth. The 5-year EPS CAGR is +6.0%. Complete EPS history from 1994 to 2025 is available in the table on this page.
What is CMS Energy Corporation's net income?
CMS Energy Corporation (CMS) trailing twelve-month net income is $1.1B as of 2025. Earnings grew +6.0% year-over-year. CMS Energy Corporation has been profitable for 18 consecutive years.
Is CMS profitable?
Yes, CMS is profitable with a TTM net income of $1.1B and a net profit margin of +12.5%. CMS Energy Corporation has generated profits for 18 consecutive years.
What is CMS's earnings growth rate?
CMS compound annual EPS growth rates (CAGR): 1-Year: +6.0%, 3-Year: +7.4%, 5-Year: +6.0%, 10-Year: +6.4%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1994 to 2025.
What are CMS's profit margins?
CMS Energy Corporation net profit margin is +12.5%, operating margin is +20.2%, and gross margin is +60.9%. Margins are within a typical range for the sector. Return on Equity is +11.6%.
Is CMS growing earnings?
CMS is growing earnings steadily. YoY EPS growth of +6.0% is consistent with the 5-year CAGR of +6.0%. TTM net income is $1.1B.
What was CMS's best earnings year?
CMS Energy Corporation's highest annual net income on record is $1.4B, achieved in fiscal year 2021. Earnings history on this page spans 1994 to 2025 and includes all annual and quarterly figures.
What were CMS's earnings last quarter?
CMS's most recent reported quarter was Q1 2026. Net income was $340M with diluted EPS of $1.13. For a full breakdown of all quarters, see the quarterly earnings table on this page.