Last 47 quarters of trend data · Utilities · Regulated Electric
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
CMS Energy Corporation 5.6% JRSUB NT 78's quarterly P/E stands at 5.8x, down 7.9% year-over-year. EV/EBITDA has expanded 32.8% YoY to 10.2x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 6.25 | 5.84 | 6.67 | 8.10 | 5.41 | 6.34 | 7.43 | 9.27 | 6.40 | 5.90 | 9.35 | 9.03 | 8.79 |
| — | -7.9% | -10.2% | -12.6% | -15.5% | +7.4% | -20.5% | +2.6% | -27.2% | -37.1% | -11.0% | -25.1% | +69.1% | |
| P/S Ratio | 0.78 | 0.74 | 0.91 | 0.87 | 0.67 | 0.84 | 1.07 | 1.12 | 0.84 | 0.93 | 0.98 | 1.13 | 0.77 |
| — | -11.8% | -14.7% | -22.2% | -20.4% | -9.6% | +9.5% | -1.3% | +8.5% | +33.1% | +13.8% | +22.0% | -0.2% | |
| P/B Ratio | 0.68 | 0.68 | 0.78 | 0.71 | 0.73 | 0.76 | 0.86 | 0.84 | 0.86 | 0.89 | 0.84 | 0.91 | 0.92 |
| — | -10.8% | -9.4% | -15.3% | -14.7% | -14.3% | +2.4% | -8.0% | -7.0% | +6.5% | -9.0% | -4.2% | -7.0% | |
| P/FCF | — | — | — | — | 14.58 | — | — | 69.14 | 5.32 | — | — | — | 4.17 |
| — | — | — | — | +174.1% | — | — | — | +27.5% | — | — | — | -57.5% | |
| EV / EBITDA | 8.67 | 10.23 | 8.16 | 9.55 | 6.53 | 7.71 | 9.07 | 9.80 | 7.15 | 7.92 | 10.25 | 10.72 | 7.86 |
| — | +32.8% | -10.1% | -2.6% | -8.7% | -2.6% | -11.5% | -8.6% | -9.1% | -12.5% | -0.0% | +7.8% | +30.0% | |
| EV / EBIT | 14.45 | 12.57 | 11.55 | 12.99 | 10.57 | 11.91 | 12.87 | 14.05 | 11.20 | 11.59 | 15.69 | 13.96 | 14.17 |
| — | +5.5% | -10.2% | -7.5% | -5.6% | +2.8% | -18.0% | +0.6% | -21.0% | -27.0% | -4.6% | -19.2% | +47.4% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
CMS Energy Corporation 5.6% JRSUB NT 78's operating margin was 19.5% in Q4 2025, down 4.3 pp QoQ and down 1.9 pp YoY. Gross margin expanded 190.0% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 60.9% | 127.9% | 29.1% | 38.8% | 42.7% | 44.1% | 42.4% | 40.9% | 43.0% | 42.7% | 37.3% | 38.3% | 35.4% |
| — | +190.0% | -31.4% | -5.1% | -0.7% | +3.2% | +13.7% | +6.8% | +21.3% | +45.0% | +28.4% | +29.1% | -9.9% | |
| Operating Margin | 20.2% | 19.5% | 23.8% | 17.2% | 20.2% | 21.4% | 21.1% | 17.6% | 18.9% | 20.8% | 16.2% | 15.7% | 13.7% |
| — | -8.8% | +13.0% | -2.1% | +6.6% | +2.6% | +30.0% | +12.2% | +37.7% | +75.0% | +27.1% | +26.1% | -28.4% | |
| Net Margin | 12.5% | 12.9% | 13.7% | 10.9% | 12.4% | 13.3% | 14.5% | 12.3% | 13.2% | 15.8% | 10.5% | 12.7% | 8.9% |
| — | -2.9% | -5.6% | -11.2% | -5.8% | -15.9% | +38.0% | -3.2% | +47.7% | +111.1% | +29.0% | +65.2% | -39.9% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.6% | 3.0% | 3.0% | 2.2% | 3.4% | 3.0% | 2.9% | 2.3% | 3.5% | 3.9% | 2.3% | 2.6% | 2.7% |
| — | -0.9% | +2.2% | -3.3% | -0.3% | -21.7% | +29.4% | -9.9% | +29.0% | +71.8% | +3.3% | +29.6% | -44.7% | |
| ROA | 2.8% | 0.7% | 0.7% | 0.5% | 0.8% | 0.7% | 0.7% | 0.6% | 0.9% | 0.9% | 0.5% | 0.6% | 0.7% |
| — | -1.6% | +0.0% | -6.4% | -1.1% | -19.9% | +34.6% | -6.7% | +30.9% | +68.9% | -2.2% | +21.4% | -47.0% | |
| ROIC | 4.9% | 1.2% | 1.4% | 0.9% | 1.5% | 1.3% | 1.1% | 0.9% | 1.3% | 1.3% | 0.9% | 0.8% | 1.1% |
| — | -7.9% | +18.0% | +2.3% | +11.4% | -1.6% | +28.4% | +8.3% | +20.8% | +37.7% | -5.6% | -8.9% | -38.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
CMS Energy Corporation 5.6% JRSUB NT 78's Debt/EBITDA ratio is 31.1x, up from 23.5x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 23.5% YoY to 0.98x, strengthening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.95 | 1.95 | 1.92 | 2.01 | 1.90 | 1.90 | 1.87 | 1.85 | 1.86 | 1.93 | 1.99 | 1.96 | 1.89 |
| — | +2.6% | +2.4% | +9.0% | +2.3% | -1.7% | -6.2% | -5.9% | -1.8% | +2.1% | +8.8% | +17.9% | +12.4% | |
| Debt / EBITDA | 6.58 | 31.08 | 23.50 | 29.20 | 19.24 | 22.09 | 25.26 | 27.76 | 20.26 | 21.88 | 29.02 | 29.77 | 21.72 |
| — | +40.7% | -7.0% | +5.2% | -5.1% | +0.9% | -12.9% | -6.7% | -6.7% | -13.5% | +5.7% | +17.3% | +39.5% | |
| Current Ratio | 0.98 | 0.98 | 0.90 | 1.00 | 1.06 | 0.79 | 1.23 | 1.18 | 1.35 | 0.98 | 0.90 | 0.95 | 1.02 |
| — | +23.5% | -27.1% | -15.4% | -21.4% | -19.2% | +37.0% | +24.2% | +32.6% | -14.7% | -25.9% | -5.1% | -25.1% | |
| Quick Ratio | 0.76 | 0.76 | 0.60 | 0.77 | 0.84 | 0.57 | 0.83 | 0.87 | 1.05 | 0.66 | 0.51 | 0.63 | 0.77 |
| — | +31.6% | -27.3% | -11.9% | -20.3% | -12.6% | +62.5% | +39.2% | +36.7% | -15.4% | -26.2% | -3.2% | -30.4% | |
| Interest Coverage | 2.58 | 2.48 | 2.67 | 2.28 | 2.91 | 2.70 | 2.53 | 2.29 | 2.81 | 2.84 | 2.12 | 2.44 | 2.52 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorDCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare business quality, growth, and profitability against top sector peers.
Start ComparisonQuick answers to the most common questions about buying CMSA stock.
CMS Energy Corporation 5.6% JRSUB NT 78's current P/E is 6.2x. The average P/E over the last 4 quarters is 6.5x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
CMS Energy Corporation 5.6% JRSUB NT 78's current operating margin is 20.2%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking CMS Energy Corporation 5.6% JRSUB NT 78's business trajectory between earnings reports.