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 5.875% J's quarterly P/E stands at 6.0x, down 7.5% year-over-year.
| 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 → | 6.51 | 6.02 | 6.46 | 8.34 | 5.54 | 6.51 | 7.36 | 9.28 | 6.30 | 5.95 | 9.40 | 8.81 | 8.62 |
| — | -7.5% | -12.2% | -10.0% | -12.1% | +9.5% | -21.7% | +5.3% | -26.8% | -39.9% | -8.7% | -25.9% | +57.6% | |
| P/S Ratio | 0.82 | 0.78 | 0.88 | 0.90 | 0.68 | 0.86 | 1.06 | 1.12 | 0.83 | 0.93 | 0.98 | 1.12 | 0.77 |
| — | -9.9% | -16.5% | -20.0% | -17.4% | -7.9% | +7.7% | -0.2% | +7.5% | +31.7% | +18.9% | +27.4% | -2.4% | |
| P/B Ratio | 0.71 | 0.71 | 0.76 | 0.73 | 0.75 | 0.78 | 0.85 | 0.84 | 0.85 | 0.90 | 0.85 | 0.91 | 0.92 |
| — | -8.8% | -11.3% | -12.9% | -11.4% | -12.8% | +0.8% | -7.0% | -7.9% | +5.4% | -4.9% | +0.1% | -9.1% | |
| P/FCF | — | 0.54 | — | — | 14.93 | — | — | 1.36 | 5.24 | — | — | — | 4.15 |
| — | — | — | — | +184.6% | — | — | — | +26.3% | — | — | — | -58.5% | |
| EV / EBITDA | 8.94 | 10.92 | 8.06 | 9.83 | 6.57 | 10.47 | 9.04 | 10.01 | 7.10 | 7.93 | 10.26 | 10.88 | 7.85 |
| — | +4.3% | -10.8% | -1.8% | -7.4% | +32.1% | -12.0% | -8.0% | -9.6% | -33.0% | +1.5% | +9.5% | +28.9% | |
| EV / EBIT | 14.66 | 17.22 | 11.41 | 13.01 | 10.60 | 12.49 | 12.68 | 17.18 | 11.11 | 11.61 | 17.31 | 18.79 | 14.58 |
| — | +37.9% | -10.0% | -24.3% | -4.7% | +7.6% | -26.7% | -8.5% | -23.8% | -27.5% | +6.6% | +14.4% | +50.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
CMS Energy Corporation 5.875% J's operating margin was 19.5% in Q4 2025, down 4.3 pp QoQ and down 1.9 pp YoY. Gross margin contracted 42.1% YoY, suggesting cost inflation or competitive pricing pressure.
| 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 | 26.2% | 25.5% | 29.1% | 23.2% | 26.8% | 44.1% | 26.7% | 40.9% | 26.1% | 26.8% | 37.3% | 38.3% | 35.4% |
| — | -42.1% | +8.8% | -43.4% | +2.9% | +64.4% | -28.3% | +6.8% | -26.4% | -8.9% | +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% | 0.8% | 0.9% | 0.5% | 0.6% | 0.7% |
| — | -0.2% | +0.0% | -6.4% | -0.8% | -19.7% | +34.6% | -6.7% | +29.5% | +67.0% | -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% |
| — | -8.0% | +18.2% | +2.5% | +11.5% | -1.4% | +28.5% | +8.5% | +21.0% | +37.8% | -5.6% | -8.9% | -38.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
CMS Energy Corporation 5.875% J's Debt/EBITDA ratio is 32.8x, up from 23.5x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 55.6% YoY to 1.23x, 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 | 6.67 | 32.75 | 23.50 | 29.83 | 19.24 | 29.78 | 25.26 | 28.36 | 20.26 | 21.88 | 29.02 | 30.30 | 21.72 |
| — | +10.0% | -7.0% | +5.2% | -5.1% | +36.1% | -12.9% | -6.4% | -6.7% | -33.5% | +5.7% | +17.3% | +39.5% | |
| Current Ratio | 1.23 | 1.23 | 0.90 | 1.00 | 1.06 | 0.79 | 1.23 | 1.18 | 1.35 | 0.98 | 0.90 | 0.95 | 1.02 |
| — | +55.6% | -27.1% | -15.4% | -21.4% | -19.2% | +37.0% | +24.2% | +32.6% | -14.7% | -25.9% | -5.1% | -25.1% | |
| Quick Ratio | 1.23 | 1.23 | 0.60 | 0.77 | 0.84 | 0.79 | 0.83 | 0.87 | 1.05 | 0.66 | 0.51 | 0.63 | 0.77 |
| — | +55.6% | -27.3% | -11.9% | -20.3% | +20.7% | +62.5% | +39.2% | +36.7% | -15.4% | -26.2% | -3.2% | -30.4% | |
| Interest Coverage | 2.42 | 1.82 | 2.67 | 2.26 | 2.89 | 2.76 | 2.49 | 1.81 | 2.81 | 2.84 | 105.33 | 96.33 | 2.44 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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CMS Energy Corporation 5.875% J's current P/E is 6.5x. The average P/E over the last 4 quarters is 6.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
CMS Energy Corporation 5.875% J'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 5.875% J's business trajectory between earnings reports.