CMS Energy Corporation 5.875% Junior Subordinated Notes due 2079 (CMSD) P/E Ratio History
UndervaluedTrading at 6.2x vs 5Y avg 7.4x · 25th percentile · Below historical baseline · Data 2019–2026
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P/E Ratio Analysis
As of June 28, 2026, CMS Energy Corporation 5.875% Junior Subordinated Notes due 2079 (CMSD) trades at a price-to-earnings ratio of 6.2x, with a stock price of $21.77 and trailing twelve-month earnings per share of $3.60.
The current P/E is 17% below its 5-year average of 7.4x. 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 25th percentile of its historical range.
Compared to the Utilities sector median P/E of 19.9x, CMSD trades at a 69% discount to its sector peers. The sector includes 111 companies with P/E ratios ranging from 0.0x to 170.4x.
The PEG ratio of 1.03 (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 25.3x. 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 Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
CMSD P/E vs Peers
Electric and gas combination utilities peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $24B | 22.3 | 3.73 | +6% | |
| $23B | 25.1 | - | +20%Best | |
| $39B | 24.6 | 4.95 | +0% | |
| $20B | 23.8 | 3.90 | -3% | |
| $13B | 21.4 | - | -4% | |
| $32B | 21.9 | - | +4% | |
| $75B | 20.8 | 2.44 | +19% | |
| $41B | 19.9Lowest | 1.74Best | +8% | |
| $110B | 24.8 | 4.24 | -2% | |
| $51B | 24.0 | 5.79 | -1% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
CMSD Historical P/E Data (2019–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $22.10 | $3.62 | 6.1x | -29% |
| FY2025 Q4 | Dec 31 2025 | $23.15 | $3.53 | 6.6x | -24% |
| FY2025 Q3 | - | $24.14 | $3.47 | 7.0x | -19% |
| FY2025 Q2 | Jun 30 2025 | $22.20 | $3.39 | 6.5x | -24% |
| FY2025 Q1 | Mar 31 2025 | $22.81 | $3.38 | 6.7x | -22% |
| FY2024 Q4 | - | $23.13 | $3.33 | 6.9x | -19% |
| FY2024 Q3 | Sep 30 2024 | $24.78 | $3.49 | 7.1x | -17% |
| FY2024 Q2 | Jun 30 2024 | $24.21 | $3.25 | 7.4x | -13% |
| FY2024 Q1 | Mar 31 2024 | $24.77 | $3.27 | 7.6x | -12% |
| FY2023 Q4 | Dec 31 2023 | $24.97 | $3.00 | 8.3x | -3% |
| FY2023 Q3 | Sep 30 2023 | $23.04 | $2.54 | 9.1x | +5% |
| FY2023 Q2 | Jun 30 2023 | $24.35 | $2.50 | 9.7x | +13% |
| FY2023 Q1 | Mar 31 2023 | $24.29 | $2.34 | 10.4x | +21% |
| FY2022 Q4 | Dec 31 2022 | $22.40 | $2.85 | 7.9x | -9% |
| FY2022 Q3 | Sep 30 2022 | $23.19 | $4.48 | 5.2x | -40% |
| FY2022 Q2 | - | $23.82 | $4.57 | 5.2x | -39% |
| FY2022 Q1 | - | $25.70 | $4.67 | 5.5x | -36% |
| FY2021 Q4 | Dec 31 2021 | $26.90 | $4.56 | 5.9x | -31% |
| FY2021 Q3 | - | $27.01 | $2.82 | 9.6x | +11% |
| FY2021 Q2 | Jun 30 2021 | $27.72 | $2.89 | 9.6x | +11% |
| FY2021 Q1 | Mar 31 2021 | $27.16 | $2.73 | 9.9x | +16% |
| FY2020 Q4 | - | $27.91 | $2.44 | 11.4x | +33% |
| FY2020 Q3 | Sep 30 2020 | $26.91 | $2.56 | 10.5x | +22% |
| FY2020 Q2 | - | $26.21 | $2.57 | 10.2x | +19% |
| FY2020 Q1 | - | $25.25 | $2.45 | 10.3x | +20% |
| FY2019 Q4 | - | $27.31 | $2.40 | 11.4x | +32% |
| FY2019 Q3 | Sep 30 2019 | $28.25 | $2.19 | 12.9x | +50% |
| FY2019 Q2 | Jun 30 2019 | $26.53 | $2.06 | 12.9x | +50% |
| FY2019 Q1 | Mar 31 2019 | $25.75 | $2.22 | 11.6x | +35% |
Average P/E for displayed period: 8.6x
Intrinsic Valuation
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Historical Returns
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DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
CMSD — Frequently Asked Questions
Quick answers to the most common questions about buying CMSD stock.
What is CMSD's P/E ratio?
CMS Energy Corporation 5.875% Junior Subordinated Notes due 2079 (CMSD) trailing twelve-month P/E ratio is 6.2x, based on TTM diluted EPS of $3.60. The 5-year average P/E is 7.4x and the historical range spans 5.2x to 10.4x.
Is CMSD stock overvalued or undervalued?
CMSD trades at 6.2x P/E, near its 5-year average of 7.4x. The 25th percentile ranking within the 5.2x–10.4x historical range places valuation within normal bounds.
Is CMSD stock expensive?
CMSD is fairly valued relative to its own history. The current P/E of 6.2x is near the 5-year average of 7.4x (25th percentile of historical range).
What is CMSD's historical P/E range?
Over the past 5 years, CMSD's P/E ratio has ranged from 5.2x to 10.4x, with a median of 7.1x and an average of 7.4x. The current P/E of 6.2x places the stock at the 25th percentile of this range. Full historical data spans 2019–2026.
How does CMSD's P/E compare to the S&P 500?
CMSD trades at 6.2x P/E versus the S&P 500 median of 25.3x. The 75% discount to the market suggests lower growth expectations or perceived higher risk.
How does CMSD's valuation compare to Utilities peers?
CMS Energy Corporation 5.875% Junior Subordinated Notes due 2079 P/E of 6.2x compares to the Utilities sector median of 19.9x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is CMSD's PEG ratio?
CMSD PEG ratio is 1.03, based on a P/E of 6.2x and EPS growth of 6.0%. A PEG between 1 and 2 suggests valuation aligns with growth expectations — typically considered fair.
What is CMSD's earnings yield?
CMSD earnings yield is 16.21%, the inverse of its 6.2x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.