CMS Energy Corporation 5.875% Junior Subordinated Notes due 2079 (CMSD) P/E Ratio History
Historical price-to-earnings valuation from 2019 to 2025
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CMSD Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 8, 2026, CMS Energy Corporation 5.875% Junior Subordinated Notes due 2079 (CMSD) trades at a price-to-earnings ratio of 6.6x, with a stock price of $23.42 and trailing twelve-month earnings per share of $3.57.
The current P/E is 13% below its 5-year average of 7.6x. Over the past five years, CMSD's P/E has ranged from a low of 5.2x to a high of 10.4x, placing the current valuation at the 30th percentile of its historical range.
Compared to the Utilities sector median P/E of 19.5x, CMSD trades at a 66% discount to its sector peers. The sector includes 108 companies with P/E ratios ranging from 0.1x to 174.1x.
The PEG ratio of 1.11 (P/E divided by 6% EPS growth) suggests a fair valuation relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, CMSD trades at a notable discount to the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our CMSD DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
CMSD P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $23B | 21.0 | 3.50 | +6% | |
| $23B | 24.1 | - | +20%Best | |
| $37B | 23.3 | 4.70 | +0% | |
| $19B | 22.6 | 3.70 | -3% | |
| $12B | 19.7 | - | -4% | |
| $30B | 20.1 | - | +4% | |
| $72B | 19.8 | 2.32 | +19% | |
| $39B | 18.9Lowest | 1.65Best | +8% | |
| $104B | 23.6 | 4.03 | -2% | |
| $50B | 23.5 | 5.66 | -1% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
CMSD Historical P/E Data (2019–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $23.15 | $3.53 | 6.6x | -25% |
| FY2025 Q3 | $24.14 | $3.47 | 7.0x | -20% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $22.20 | $3.39 | 6.5x | -25% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $22.81 | $3.38 | 6.7x | -22% |
| FY2024 Q4 | $23.13 | $3.33 | 6.9x | -20% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $24.78 | $3.49 | 7.1x | -18% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $24.21 | $3.25 | 7.4x | -14% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $24.77 | $3.27 | 7.6x | -13% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $24.97 | $3.00 | 8.3x | -4% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $23.04 | $2.54 | 9.1x | +4% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $24.35 | $2.50 | 9.7x | +12% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $24.29 | $2.34 | 10.4x | +19% |
Average P/E for displayed period: 8.7x
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Start ComparisonCMSD — Frequently Asked Questions
Quick answers to the most common questions about buying CMSD stock.
Is CMSD stock overvalued or undervalued?
CMSD trades at 6.6x P/E, near its 5-year average of 7.6x. The 30th percentile ranking places valuation within normal historical bounds.
How does CMSD's valuation compare to peers?
CMS Energy Corporation 5.875% Junior Subordinated Notes due 2079 P/E of 6.6x compares to sector median of 19.5x. The discount suggests lower growth expectations or higher risk.
What is CMSD's PEG ratio?
CMSD PEG ratio is 1.11. Between 1-2 suggests valuation aligns with growth. Historical P/E data spans 2019-2025.