CMS Energy Corporation 5.875% Junior Subordinated Notes due 2079 (CMSD) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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CMSD Revenue Growth
Revenue Breakdown (FY 2025)
CMSD's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
CMSD Revenue Analysis (2014–2025)
As of May 8, 2026, CMS Energy Corporation 5.875% Junior Subordinated Notes due 2079 (CMSD) 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, CMSD'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 CMSD'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), CMSD has underperformed the peer group in terms of revenue growth. Compare CMSD vs CMS →
CMSD Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CMSDCurrent | $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% | |
 PNW | $5.3B | +4.8% | +8.3% | 20.9% |
CMSD 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% | $1.68B | 22.5% | $1.24B | 16.6% |
| 2022 | $8.60B | +17.3% | $1.64B | 19.0% | $1.22B | 14.2% |
| 2021 | $7.33B | +14.2% | $1.53B | 20.9% | $1.15B | 15.6% |
| 2020 | $6.42B | -6.2% | $1.59B | 24.7% | $1.23B | 19.2% |
| 2019 | $6.84B | -0.4% | $1.57B | 23.0% | $1.24B | 18.1% |
| 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% | $2.36B | 36.8% | $1.26B | 19.6% |
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Start ComparisonCMSD — Frequently Asked Questions
Quick answers to the most common questions about buying CMSD stock.
Is CMSD's revenue growth accelerating or slowing?
CMSD 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 CMSD's long-term revenue growth rate?
CMS Energy Corporation 5.875% Junior Subordinated Notes due 2079'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 CMSD's revenue distributed by segment?
CMSD 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.