CMS Energy Corporation (CMS) Earnings History
Annual and quarterly earnings data from 1994 to 2025
Loading earnings history...
CMS EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
CMS Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 60.9% | 20.2% | 12.5% |
| 2024 | 42.7% | 19.8% | 13.3% |
| 2023 | 38.4% | 16.6% | 11.9% |
| 2022 | 32.1% | 14.2% | 9.7% |
| 2021 | 36.1% | 15.6% | 18.5% |
Download Data
Export CMS earnings history in CSV or JSON format
Free sign-in required to download data
CMS Energy Corporation (CMS) Earnings Overview
As of May 8, 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% |
Full CMS Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
See CMS's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs CMS Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare CMS vs GEV
Side-by-side business, growth, and profitability comparison vs GE Vernova Inc..
Start ComparisonCMS — Frequently Asked Questions
Quick answers to the most common questions about buying CMS stock.
Is CMS growing earnings?
CMS EPS stands at $3.68, with +6.0% growth matching the 5-year CAGR of +6.0%. TTM net income is $1.1B. Earnings trajectory remains consistent.
What are CMS's profit margins?
CMS Energy Corporation net margin is +12.5%, with operating margin at +20.2%. Margins sit within typical range for the sector.
How consistent are CMS's earnings?
CMS earnings data spans 1994-2025. The current earnings trend is +6.0% YoY. Historical data enables comparison across business cycles.