CMS Energy Corporation 5.875% J (CMSC) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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CMSC Revenue Growth
Revenue Breakdown (FY 2025)
CMSC's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
CMSC Revenue Analysis (2014–2025)
As of May 8, 2026, CMS Energy Corporation 5.875% J (CMSC) generated trailing twelve-month (TTM) revenue of $8.54 billion, reflecting strong growth of +12.3% year-over-year. The most recent quarter (Q4 2025) recorded $2.23 billion in revenue, up 10.5% sequentially.
Looking at the longer-term picture, CMSC's 5-year compound annual growth rate (CAGR) stands at +5.9%, indicating steady revenue expansion. The company achieved its highest annual revenue of $8.60 billion in 2022.
Revenue diversification analysis shows CMSC's business is primarily driven by Residential Utility Services (57%), Commercial Utility Service (32%), and Industrial Utility Service (11%). With over half of revenue concentrated in Residential Utility Services, the company maintains significant focus in this area while developing other growth vectors.
When compared to Utilities sector peers including CMS (+13.3% YoY), NI (+15.0% YoY), and WEC (+11.2% YoY), CMSC has underperformed the peer group in terms of revenue growth. Compare CMSC vs CMS →
CMSC Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CMSCCurrent | $8.5B | +12.3% | +5.9% | 20.2% | |
 CMS | $8.5B | +13.3% | +5.9% | 20.2% | |
 NI | $6.6B | +15.0% | +7.2% | 27.6% | |
 WEC | $9.8B | +11.2% | +6.2% | 24.2% | |
 EVRG | $5.9B | +2.4% | +3.8% | 25.2% | |
 ATO | $4.7B | +8.8% | +10.8% | 33.2% |
CMSC Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $8.54B | +13.6% | $2.24B | 26.2% | $1.73B | 20.2% |
| 2024 | $7.51B | +0.7% | $1.97B | 26.2% | $1.49B | 19.8% |
| 2023 | $7.46B | -13.2% | $2.86B | 38.4% | $1.24B | 16.6% |
| 2022 | $8.60B | +17.3% | $2.76B | 32.1% | $1.22B | 14.2% |
| 2021 | $7.33B | +14.2% | $2.65B | 36.1% | $1.15B | 15.6% |
| 2020 | $6.42B | -3.1% | $2.63B | 41.0% | $1.23B | 19.2% |
| 2019 | $6.62B | -3.6% | $2.44B | 36.8% | $1.11B | 16.8% |
| 2018 | $6.87B | +4.4% | $1.47B | 21.3% | $1.16B | 16.9% |
| 2017 | $6.58B | +2.9% | $1.62B | 24.6% | $1.34B | 20.3% |
| 2016 | $6.40B | -0.9% | $1.58B | 24.6% | $1.30B | 20.3% |
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Start ComparisonCMSC — Frequently Asked Questions
Quick answers to the most common questions about buying CMSC stock.
Is CMSC's revenue growth accelerating or slowing?
CMSC maintains +12.3% revenue growth, in line with its 5-year CAGR of +5.9%. TTM revenue stands at $8.5B. Growth rate remains consistent with historical average.
What is CMSC's long-term revenue growth rate?
CMS Energy Corporation 5.875% J's 5-year revenue CAGR of +5.9% reflects the sustained expansion pattern. Current YoY growth of +12.3% is near this long-term average.
How is CMSC's revenue distributed by segment?
CMSC reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.