CMS Energy Corporation
NYSE•CMS
CEO: Mr. Garrick J. Rochow
Sector: Utilities
Industry: Regulated Electric
Listing Date: 1987-05-01
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources. Its distribution system comprises 208 miles of high-voltage distribution overhead lines; 4 miles of high-voltage distribution underground lines; 4,428 miles of high-voltage distribution overhead lines; 19 miles of high-voltage distribution underground lines; 82,474 miles of electric distribution overhead lines; 9,395 miles of underground distribution lines; 1,093 substations; and 3 battery facilities. The Gas Utility segment engages in the purchase, transmission, storage, distribution, and sale of natural gas, which includes 2,392 miles of transmission lines; 15 gas storage fields; 28,065 miles of distribution mains; and 8 compressor stations. The Enterprises segment is involved in the independent power production and marketing, including the development and operation of renewable generation. It serves 1.9 million electric and 1.8 million gas customers, including residential, commercial, and diversified industrial customers. The company was incorporated in 1987 and is headquartered in Jackson, Michigan.
Contact Information
Market Cap
$23.35B
P/E (TTM)
21.4
21.7
Dividend Yield
2.9%
52W High
$78.88
52W Low
$67.71
52W Range
Rank39Top 39.1%
4.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025
Financial Dashboard
Q4 2025 Data
Revenue
$2.23B+0.00%
4-Quarter Trend
EPS
$0.94+0.00%
4-Quarter Trend
FCF
-$596.00M+0.00%
4-Quarter Trend
2025 Annual Earnings Highlights
Key Highlights
CMS Energy Net Income Rises Net income available to common stockholders reached $1.061B USD in 2025, reflecting a $68M USD increase over 2024 results.
Gas Utility Income Strong Consumers Gas Utility net income increased $81M USD to $409M USD in 2025, primarily due to higher revenue and rate increases.
Total Revenue Exceeds $8.5B CMS Energy total operating revenue hit $8.539B USD in 2025, a $1.024B USD increase compared to the prior year.
Risk Factors
J.H. Campbell Cost Recovery Continued J.H. Campbell operation due to emergency orders requires FERC cost recovery; outcome uncertain impacting financial results.
Capital Plan Rate Approval Consumers' $24.1B USD investment plan relies on MPSC approval for rate base growth exceeding 8 percent annually.
Cybersecurity System Failure Technology systems, including disaster recovery, are vulnerable to failure or breach, risking operational disruption and data compromise.
Outlook
Clean Energy Transition Goals Consumers targets 60% renewable energy by 2035 and 100% clean energy by 2040 via Electric Supply Plan updates.
Five-Year Capital Investment Consumers plans $24.1B USD capital expenditures through 2030, focusing on electric and gas infrastructure upgrades and clean generation.
Methane Emissions Reduction Gas utility aims for net-zero methane emissions by 2030 through pipe replacement, rehabilitation, and new technologies adoption.
Peer Comparison
Revenue (TTM)
$68.92B
$29.55B
$19.32B
Gross Margin (Latest Quarter)
127.9%
72.1%
58.1%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| SO | $106.92B | 24.3 | 12.5% | 42.3% |
| DTE | $30.02B | 20.5 | 12.2% | 49.1% |
| FE | $28.91B | 28.3 | 8.0% | 48.4% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-3.0%
Flat Growth
4Q Net Income CAGR
-1.7%
Stable Profitability
Cash Flow Stability
100%
Strong Cash Flow
Deep Research
Next earnings:Apr 22, 2026
EPS:-
|Revenue:-
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement | LTM |
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No Data