CMS Energy Corporation

CMS Energy Corporation

CMS
CMS Energy CorporationUS flagNew York Stock Exchange
70.22
USD
-1.63
- -
21.69BMarket Cap
CMS Energy Corporation
CMS
(New York Stock Exchange)

Recent

price

70.22

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
27.78
25.93
23.99
24.78
26.49
23.39
23.02
23.51
24.36
23.41
22.52
25.36
29.51
25.35
25.15
27.87
28.95
Revenue per Share
1.4
1.65
1.47
1.71
1.76
1.89
1.98
1.64
2.32
2.4
2.64
4.66
2.84
2.98
3.32
3.46
3.6
Basic EPS, GAAP
3.96
4.45
4.57
5.15
5.22
5.53
5.47
5.68
5.52
5.88
4.02
5.83
2.57
4.52
7.4
6.6
5.66
Free Cash Flow per Basic Share
0.7
0.84
0.97
1.03
1.09
1.17
1.25
1.35
1.44
1.54
1.64
1.76
1.87
1.97
2.1
2.16
2.3
Dividend per Share
-7.58
-6.18
-5.45
-4.68
-3.89
-3.09
-2.21
-1.89
-0.95
-0.08
0.76
3.67
4.64
5.64
6.82
7.98
8.56
Book Value per Share
12.25
12.25
12.42
13.17
13.68
14.4
15.43
15.99
16.98
17.86
21.32
24.1
25.3
26.84
28.53
30.96
32.25
Tangible Book Value per Share
232
251
261
265
271
276
278
280
282
283
285
289
291
294
299
306
305
Basic Weighted Avg Shares
6,432
6,503
6,253
6,566
7,179
6,456
6,399
6,583
6,873
6,624
6,418
7,329
8,596
7,462
7,515
8,539
8,822
Sales/Revenue/Turnover
15.11
15.42
16.04
17.39
16.05
18.25
19.63
20.33
16.91
16.83
19.16
15.64
14.24
16.55
19.79
20.22
19.53
Operating Margin (%)
576
546
598
628
685
750
811
881
933
989
1,043
1,114
1,126
1,180
1,240
1,306
1,331
Depreciation Expense
340
415
382
452
477
523
551
460
657
680
755
1,353
837
887
1,003
1,071
1,107
Net Income, GAAP
37.97
31.52
39.39
39.95
34.29
34.05
33.05
47.86
14.86
17.15
14.22
11.54
10.31
15.41
15.67
19.71
21.41
Effective Tax Rate (%)
5.29
6.38
6.11
6.88
6.64
8.1
8.61
6.99
9.56
10.27
11.76
18.46
9.74
11.89
13.35
12.54
12.55
Profit Margin (%)
738
227
625
581
649
18
-375
-309
-156
-373
-670
423
448
-56
-731
-76
-567
Working Capital
6,636
6,207
6,863
7,239
8,139
8,518
8,750
9,214
10,684
12,027
11,800
12,092
13,190
14,570
15,306
17,942
17,718
LT Debt
2,837
3,072
3,238
3,491
3,707
3,975
4,290
4,478
4,792
5,055
6,077
7,188
7,595
8,125
8,748
9,711
10,051
Total Equity
5.81
6.46
5.62
6.02
6.18
5.85
5.92
4.66
6.14
5.18
5.61
5.19
5.16
4.47
4.99
5.02
4.84
Return on Invested Capital (%)
11.08
12.2
10.35
10.68
10.25
9.55
9.28
7.06
9.7
8.54
9.01
13.22
8.62
8.73
8.84
8.59
8.81
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
211.12
68.55
58.2
53.69
47.32
45.85
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
1,162
956
1,360
LT Borrowings
16,774
17,807
17,456
LT Finance Leases
137
135
262
Preferred Equity and Hybrid Capital
224
224
224
Shares Outstanding
304
306
309
Market Capitalization
22,005
21,139
23,641

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
2,745
3,472
3,025
Cash, Cash Equivalents & STI
362
509
175
Accounts Receivable, Net
922
1,306
1,402
Inventories
903
791
642
Total Current Liabilities
3,052
3,548
3,592
Payables & Accruals
1,562
2,322
1,961
ST Debt
1,162
956
1,360
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.46%
9.92%
11.01%
Free Cash Flow
10.48%
25.36%
-8.55%
Net Income, GAAP
11.31%
13.38%
6.78%
Sales/Revenue/Turnover
3.23%
6.53%
13.63%
Total Cash Common Dividend
7.33%
7.03%
6.01%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,176
1,607
1,743
1,989
7,515
2025
2,447
1,838
2,021
2,233
8,539
2026
2,730
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.95
0.65
0.84
0.88
3.32
2025
1.01
0.66
0.9
0.93
3.46
2026
1.09
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.89
0.16
0.52
0.52
2.1
2025
0.91
0.2
0.54
0.55
2.16
2026
1
- -
- -
- -
- -
Business
CMS Energy Corporation operates as a prominent energy provider primarily serving Michigan. The company's operations are structured across three key segments: Electric Utility, Gas Utility, and NorthStar Clean Energy. The Electric Utility segment manages the generation, procurement, delivery, and sale of electricity, utilizing a diverse portfolio of sources including natural gas, coal, wind, solar, and nuclear power. This segment maintains an extensive distribution network, comprising thousands of miles of overhead and underground lines, along with numerous substations. The Gas Utility segment focuses on the acquisition, transmission, storage, distribution, and sale of natural gas. This network includes thousands of miles of transmission lines, multiple gas storage fields, and an expansive system of distribution mains and compressor stations. The NorthStar Clean Energy segment, formerly known as CMS Enterprises, is involved in independent power generation and marketing, with a particular emphasis on developing and operating renewable energy projects. CMS Energy delivers essential services to approximately 1.9 million electric and 1.8 million natural gas customers, encompassing residential, commercial, and diverse industrial sectors. The company, established in 1987 and headquartered in Jackson, Michigan, is actively pursuing ambitious sustainability goals, aiming for net-zero carbon emissions from its electric operations by 2040 and net-zero greenhouse gas emissions across its entire natural gas system, including customer and supplier emissions, by 2050. This strategic direction underscores its commitment to a cleaner energy future while ensuring reliable service for its vast customer base. Recent financial results show consistent performance, with the company raising its 2025 adjusted earnings per share guidance and initiating 2026 guidance. The company's business model relies on regulated utility operations, which provide stable and predictable revenue streams.

Company News

APIChat
  • CMS Energy Announces Sri Maddipati as Chief Financial Officer, Chris Fultz as President of Electric Supply

  • CMS Energy Announces Sri Maddipati as Chief Financial Officer, Chris Fultz as President of Electric Supply

  • Thought Leadership & Innovation Foundation Releases Whitepaper on CMS Medicare Advantage Final Rule and Announces Pilot Launch of Limb Outcomes Voice (LOV)

  • Why Is CMS Energy (CMS) Down 0.7% Since Last Earnings Report?

  • 4 Defensive Stocks to Take Refuge in as Consumer Confidence Tanks

  • Giant US power merger bets on AI build-out, but may hinge on power bills

  • 4 Low-Beta Utility Picks as Consumer Sentiment Hits Rock Bottom

  • Implied Volatility Surging for CMS Energy Stock Options

  • Inflation Hits Highest Level in 3 Years: 4 Defensive Stocks to Buy

  • CMS Energy Declares Quarterly Dividend on Cumulative Redeemable Perpetual Preferred Stock

  • Consumers Energy, the Principal Subsidiary of CMS Energy, Declares Quarterly Dividend on Preferred Stock

  • CMS Energy (CMS) is a Top Dividend Stock Right Now: Should You Buy?

  • CMS Energy Corporation (CMS) Q1 2026 Earnings Call Transcript

  • CMS Energy Q1 Earnings Beat Estimates, Revenues Increase Y/Y

  • CMS Energy (CMS) Tops Q1 Earnings and Revenue Estimates

  • CMS Energy beats profit estimates, boosts capital expenditure plan amid rising power demand

  • CMS Energy Announces First Quarter Results for 2026, Reaffirms 2026 Adjusted EPS Guidance

  • Wall Street's Most Accurate Analysts Give Their Take On 3 Utilities Stocks With Over 3% Dividend Yields

  • CMS Energy (CMS) Reports Next Week: Wall Street Expects Earnings Growth

  • Asset Management One Co. Ltd. Cuts Stake in CMS Energy Corporation $CMS