CMS Energy Corporation (CMS) Earnings History
Annual and quarterly earnings data from 1994 to 2025
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EPS Growth Rates (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.
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% |
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CMS Energy Corporation (CMS) Earnings Overview
As of February 28, 2026, CMS Energy Corporation (CMS) reported trailing twelve-month net income of $1.05B, reflecting +0.1% year-over-year growth. The company earned $3.49 per diluted share over the past four quarters, with a net profit margin of 0.1%.
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 0.6%, operating margin of 0.2%, and net margin of 0.1%. The company continues to generate positive earnings from operations. View revenue history →
Compared to industry peers including DUK ($4.99B net income, 0.2% margin), XEL ($1.92B net income, 0.1% margin), ETR ($1.77B net income, 0.1% margin), CMS has room to improve margins relative to the peer group. Compare CMS vs DUK →
Peer Comparison
Earnings metrics vs industry competitors
Historical Data
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% |
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Start ComparisonFrequently Asked Questions
Is CMS growing earnings?
CMS EPS of $3.49 reflects slowing growth at +0.1%, below the 5-year CAGR of +6.0%. TTM net income is $1.0B. Expansion rate has moderated.
What are CMS's profit margins?
CMS Energy Corporation net margin is +0.1%, with operating margin at +0.2%. Below-average margins reflect competitive or cost pressures.
How consistent are CMS's earnings?
CMS earnings data spans 1994-2025. The current earnings trend is +0.1% YoY. Historical data enables comparison across business cycles.