CMS Energy Corporation

CMS Energy Corporation

CMS
CMS Energy CorporationUS flagNew York Stock Exchange
71.99
USD
-0.27
- -
22.57BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
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
28.72
Basic EPS, GAAP
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
3.31
Free Cash Flow per Basic Share
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
6.37
Dividend per Share
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
2.25
Book Value per Share
12.98
13.34
14.21
15.23
15.77
16.78
17.68
19.02
22.11
23.31
24.86
26.8
29.11
30.45
Tangible Book Value per Share
12.98
13.34
14.21
15.23
15.77
16.78
17.68
19.02
22.11
23.31
24.86
26.8
29.11
30.45
Basic Weighted Avg Shares
265
271
276
278
280
282
283
285
289
291
294
299
306
307
Sales/Revenue/Turnover
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
8,813
Operating Margin (%)
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
18.95
Depreciation Expense
628
685
750
811
881
933
989
1,043
1,114
1,126
1,180
1,240
1,306
1,350
Net Income, GAAP
452
477
523
551
460
657
680
755
1,353
837
887
1,003
1,071
1,026
Effective Tax Rate (%)
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
21.23
Profit Margin (%)
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
11.64
Working Capital
581
649
18
-375
-309
-156
-373
-670
423
448
-56
-731
-76
-197
LT Debt
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
18,431
Total Equity
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
10,399
Return on Invested Capital (%)
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
4.57
Return on Capital (%)
6.2
6.21
6.04
6.05
4.69
6.63
6.07
6.48
9.54
6.38
6.61
6.75
6.6
6.4
Return on Common Equity (%)
13.6
13.39
13.75
13.45
10.58
14.25
13.87
14.32
22.65
12.53
12.43
12.96
12.54
11.47

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
956
1,360
870
LT Borrowings
17,807
17,456
18,172
LT Finance Leases
135
262
259
Preferred Equity and Hybrid Capital
224
224
224
Shares Outstanding
306
309
314
Market Capitalization
21,427
23,964
23,990

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
3,472
3,025
2,866
Cash, Cash Equivalents & STI
509
175
241
Accounts Receivable, Net
1,306
1,402
1,008
Inventories
791
642
824
Total Current Liabilities
3,548
3,592
3,063
Payables & Accruals
2,322
1,961
1,910
ST Debt
956
1,360
870
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
1,829
- -
- -
- -

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
1.1
0.38
- -
- -
- -

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
1.01
0.16
- -
- -
- -

Company Description

APIChatGPT
CEO
Garrick J. Rochow
Full Time Employees
8,350
Sector
Utilities
Industry
Regulated Electric
Address
One Energy Plaza Jackson MI United States of America 49201
IPO Date
Feb 21, 1973
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

APIChatGPT
  • CMS Energy Corporation (CMS) Q2 2026 Earnings Call Transcript

  • CMS Energy Q2 Earnings Match Estimates, Revenues Decrease Y/Y

  • CMS Energy Q2 Earnings Call Highlights

  • Progress Software Introduces AI Agents Built into CMS Workflows to Reduce Content Bottlenecks and Scale Digital Delivery

  • CMS Energy (CMS) Meets Q2 Earnings Estimates

  • CMS Energy forecasts 2027 profit below estimates, exits non-utility renewables business

  • Is CMS Energy Corp (CMS) Undervalued After Q2 Earnings Miss? EPS at $0.37 vs. Estimate of $0.51, GF Score: 74/100

  • CMS Energy Announces Second Quarter Results, Strategic Decision on NorthStar Clean Energy Services, Introduces Guidance for 2027

  • First Trust Advisors LP Sells 133,696 Shares of CMS Energy Corporation $CMS

  • Earnings Preview: CMS Energy (CMS) Q2 Earnings Expected to Decline

  • California Public Employees Retirement System Cuts Holdings in CMS Energy Corporation $CMS

  • CMS Energy's Board of Directors Declares Quarterly Dividend on Common Stock

  • Will CMS Energy (CMS) Beat Estimates Again in Its Next Earnings Report?

  • Plug This 3% Yield In, Light Up Your Portfolio's Returns: CMS Energy

  • Deepening Collaboration in AI-Powered R&D Acceleration: Insilico Medicine and CMS announce additional collaborations in CNS diseases

  • US power companies scramble to secure equipment as surging data center demand strains supplies

  • CMS Energy to Announce 2026 Second Quarter Results on July 28

  • CMS Energy Announces Polly Harris as Vice President of Human Resources

  • PPL vs. CMS: Which Regulated Utility Stock is the Smarter Investment?

  • CMS Energy Announces Chris Shellberg as Vice President of Low-Voltage Electric Distribution