8-K Announcements
6Material company update
Jun 3, 2026·SEC
Material company update
May 13, 2026·SEC
Material company update
May 13, 2026·SEC
CMS Energy Corporation 5.875% J(CMSC)Earnings, Financials & Key Ratios
CMSC•NYSE•Utilities
$21.93
6.2× P/E·Price updated Jun 27, 2026
AboutCMS Energy Corp. engages in the provision of electric and natural gas activities. It operates through the following business segments: Electric Utility, Gas Utility, and NorthStar Clean Energy. The Electric Utility segment focuses on generation, purchase, distribution, and sale of electricity. The Gas Utility segment includes purchase, transmission, storage, distribution, and sale of natural gas. The NorthStar Clean Energy segment is involved in domestic independent power production including the development and operation of renewable generation and the marketing of independent power production. The company was founded in 1987 and is headquartered in Jackson, MI.Show more
- Revenue$8.54B+13.6%
- EBITDA$2.88B+5.5%
- Net Income$1.07B+6.8%
- Free Cash Flow-$1.59B-145.2%
- EBITDA Margin33.69%-7.2%
- Net Margin12.54%-6.0%
- ROE11.6%-2.4%
- Interest Coverage2.58-0.2%
- Debt/Equity1.95+2.8%
CMSC Price & Volume
CMS Energy Corporation 5.875% J (CMSC) stock price & volume — 10-year historical chart
Loading chart...
Aggressive Infrastructure Expansion Drives Revenue Growth Potential
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Accelerating
Profitability:Stable
Financial Position:Vulnerable
Cash Flow:Burning
Primary Risk:Regulatory lag and capital intensity
"CMS Energy is currently executing an aggressive capital deployment strategy, evidenced by a $1.0 billion quarterly capital expenditure, aimed at expanding its regulated rate base to meet Michigan's clean energy mandates. While this investment cycle drives top-line growth of 11.6% as of 2026Q1, it simultaneously creates significant pressure on free cash flow and necessitates ongoing reliance on external financing. Investors should monitor the company's 1.90 debt-to-equity ratio and tightening liquidity, as these factors warrant caution regarding the long-term sustainability of the current capital structure."
Verdict Logic
while the 10.1% dividend yield is attractive, the company's negative free cash flow position and high debt-to-equity ratio of 1.90 suggest that investors should prioritize balance sheet stability over yield.
CMSC Growth Metrics
CMS Energy Corporation 5.875% J (CMSC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years2.84%
5 Years5.88%
3 Years-0.22%
TTM13.31%
Profit CAGR
10 Years7.43%
5 Years7.24%
3 Years8.56%
TTM8.53%
EPS CAGR
10 Years6.45%
5 Years5.98%
3 Years7.39%
TTM7.99%
Return on Capital
10 Years5.15%
5 Years4.53%
3 Years4.63%
Last Year4.99%
CMSC Recent Earnings
CMS Energy Corporation 5.875% J (CMSC) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
Apr 23, 2026Metric
Actual
Est
EPS
$1.13+3.7%
$1.09
Rev
$2.7B+8.2%
$2.5B
Q1 2026
Feb 5, 2026Metric
Actual
Est
EPS
$0.95+1.8%
$0.93
Rev
$2.2B+18.6%
$1.9B
Q4 2025
Oct 30, 2025Metric
Actual
Est
EPS
$0.93+8.1%
$0.86
Rev
$2.0B+9.5%
$1.8B
Q3 2025
Jul 31, 2025Metric
Actual
Est
EPS
$0.71+4.4%
$0.68
Rev
$1.8B+5.8%
$1.7B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 23, 2026 | $1.13vs $1.09+3.7% | $2.7Bvs $2.5B+8.2% |
| Q1 2026 | Feb 5, 2026 | $0.95vs $0.93+1.8% | $2.2Bvs $1.9B+18.6% |
| Q4 2025 | Oct 30, 2025 | $0.93vs $0.86+8.1% | $2.0Bvs $1.8B+9.5% |
| Q3 2025 | Jul 31, 2025 | $0.71vs $0.68+4.4% | $1.8Bvs $1.7B+5.8% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for CMS Energy Corporation 5.875% J (CMSC)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $21.93 | $6.72B | 6.21 | 13.63% | 12.54% | 11.6% | 10.06% | |
| $78.81 | $24.35B | 22.33 | 13.63% | 12.55% | 11.6% | — | |
| $49.00 | $23.49B | 25.13 | 21.76% | 14.1% | 8.4% | — | |
| $118.85 | $38.71B | 24.61 | 13.96% | 16.25% | 11.64% | — | |
| $87.21 | $20.1B | 23.83 | 1.65% | 14.71% | 8.65% | — | |
| $175.17 | $29.24B | 23.48 | 12.91% | 27.58% | 7.69% | — |
Compare CMSC vs Peers
CMS Energy Corporation 5.875% J (CMSC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
CMSC SEC Filings & Documents
CMS Energy Corporation 5.875% J (CMSC) SEC filings — annual & quarterly reports (10-K, 10-Q)
Get notified when CMSC posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
CMSC Frequently Asked Questions
CMS Energy Corporation 5.875% J (CMSC) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is CMS Energy Corporation 5.875% J's revenue?
CMS Energy Corporation 5.875% J (CMSC) reported $8.82B in revenue for fiscal year 2025. This represents a 104% increase from $4.32B in 1996.
How fast is CMS Energy Corporation 5.875% J growing?
CMS Energy Corporation 5.875% J (CMSC) grew revenue by 13.6% over the past year. This is steady growth.
Is CMSC profitable?
Yes, CMS Energy Corporation 5.875% J (CMSC) is profitable, generating $1.11B in net income for fiscal year 2025 (12.5% net margin).
Dividend & Returns
Does CMSC pay dividends?
Yes, CMS Energy Corporation 5.875% J (CMSC) pays a dividend with a yield of 10.06%. This makes it attractive for income-focused investors.
What is CMSC's return on equity?
CMS Energy Corporation 5.875% J (CMSC) has a return on equity (ROE) of 11.6%. This is reasonable for most industries.
What is CMS Energy Corporation 5.875% J's free cash flow?
CMS Energy Corporation 5.875% J (CMSC) had negative free cash flow of $2.04B in fiscal year 2025, likely due to heavy capital investments.
Industry Metrics
Is CMSC's dividend sustainable?
CMS Energy Corporation 5.875% J (CMSC) has a dividend payout ratio of 62%. This suggests the dividend is well-covered and sustainable.