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CMS Energy (CMS) | Financial Analysis & Statements

CMS Energy Corporation | Large-cap | Utilities

$73.48

-1.41%

CMS Energy vs NextEra Energy CMS Energy vs Southern Company CMS Energy vs Duke Energy CMS Energy vs American Electric CMS Energy vs Dominion Energy CMS Energy vs S&P 500 | Market

TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Jun 2025

Income Metrics

Revenue 1.8B

Gross Profit 714.0M 38.85%

Operating Income 317.0M 17.25%

Net Income 193.0M 10.50%

Balance Sheet Metrics

Total Assets 36.3B

Total Liabilities 27.4B

Shareholders Equity 8.9B

Debt to Equity 3.07

Cash Flow Metrics

Operating Cash Flow 992.0M

Free Cash Flow 231.0M

Revenue & Profitability Trend

Interactive Financial Charts Not Available

This page uses interactive financial charts and dynamic data visualization tools that require JavaScript. For detailed financial analysis:

Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

CMS Energy Income Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Revenue i	7.5B	7.5B	8.6B	7.3B	6.4B
Cost of Goods Sold i	4.3B	4.6B	5.8B	4.7B	3.8B
Gross Profit i	3.2B	2.9B	2.8B	2.6B	2.6B
Gross Margin % i	42.7%	38.4%	32.1%	36.1%	41.0%
Operating Expenses
Research & Development i	-	-	-	-	-
Selling, General & Administrative i	-	-	-	-	-
Other Operating Expenses i	-	-	-	-	-
Total Operating Expenses i	0	0	0	0	0
Operating Income i	1.5B	1.2B	1.2B	1.1B	1.2B
Operating Margin % i	19.8%	16.6%	14.2%	15.6%	19.2%
Non-Operating Items
Interest Income i	-	-	-	3.0M	11.0M
Interest Expense i	708.0M	643.0M	519.0M	500.0M	505.0M
Other Non-Operating Income	344.0M	362.0M	197.0M	177.0M	73.0M
Pre-tax Income i	1.1B	954.0M	902.0M	823.0M	809.0M
Income Tax i	176.0M	147.0M	93.0M	95.0M	115.0M
Effective Tax Rate % i	15.7%	15.4%	10.3%	11.5%	14.2%
Net Income i	947.0M	808.0M	813.0M	1.3B	752.0M
Net Margin % i	12.6%	10.8%	9.5%	18.1%	11.7%
Key Metrics
EBITDA i	3.1B	2.8B	2.5B	2.4B	2.4B
EPS (Basic) i	$3.32	$3.01	$2.84	$4.66	$2.65
EPS (Diluted) i	$3.32	$3.01	$2.84	$4.66	$2.64
Basic Shares Outstanding i	298784865	291200000	291300000	289000000	285000000
Diluted Shares Outstanding i	298784865	291200000	291300000	289000000	285000000

Income Statement Trend

CMS Energy Balance Sheet From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Assets
Current Assets
Cash & Equivalents i	103.0M	227.0M	164.0M	452.0M	32.0M
Short-term Investments i	-	-	-	-	-
Accounts Receivable i	1.0B	933.0M	1.6B	931.0M	872.0M
Inventory i	769.0M	938.0M	1.1B	667.0M	576.0M
Other Current Assets	332.0M	283.0M	170.0M	185.0M	42.0M
Total Current Assets i	2.8B	2.8B	3.4B	2.6B	2.4B
Non-Current Assets
Property, Plant & Equipment i	30.0M	39.0M	30.0M	24.0M	22.0M
Goodwill i	-	-	-	-	-
Intangible Assets i	-	-	-	-	-
Long-term Investments	-	-	-	-	-
Other Non-Current Assets	404.0M	379.0M	333.0M	294.0M	3.5B
Total Non-Current Assets i	33.1B	30.7B	27.9B	26.1B	27.3B
Total Assets i	35.9B	33.5B	31.4B	28.8B	29.7B
Liabilities
Current Liabilities
Accounts Payable i	1.1B	802.0M	928.0M	875.0M	668.0M
Short-term Debt i	1.3B	1.1B	1.1B	382.0M	591.0M
Current Portion of Long-term Debt	-	-	-	-	-
Other Current Liabilities	320.0M	205.0M	270.0M	302.0M	1.2B
Total Current Liabilities i	3.5B	2.9B	3.0B	2.2B	3.1B
Non-Current Liabilities
Long-term Debt i	15.3B	14.6B	13.2B	12.1B	11.8B
Deferred Tax Liabilities i	3.0B	2.7B	2.5B	2.3B	2.0B
Other Non-Current Liabilities	407.0M	415.0M	397.0M	375.0M	394.0M
Total Non-Current Liabilities i	23.7B	22.5B	20.8B	19.4B	20.5B
Total Liabilities i	27.2B	25.4B	23.8B	21.6B	23.6B
Equity
Common Stock i	3.0M	3.0M	3.0M	3.0M	3.0M
Retained Earnings i	2.0B	1.7B	1.4B	1.1B	214.0M
Treasury Stock i	-	-	-	-	-
Other Equity	-	-	-	-	-
Total Shareholders Equity i	8.7B	8.1B	7.6B	7.2B	6.1B
Key Metrics
Total Debt i	16.6B	15.6B	14.3B	12.5B	12.4B
Working Capital i	-731.0M	-56.0M	448.0M	423.0M	-670.0M

Balance Sheet Composition

CMS Energy Cash Flow Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Operating Activities
Net Income i	947.0M	808.0M	813.0M	1.3B	752.0M
Depreciation & Amortization i	1.2B	1.2B	1.1B	1.1B	1.0B
Stock-Based Compensation i	-	-	-	-	-
Working Capital Changes i	247.0M	552.0M	-1.1B	-199.0M	-81.0M
Operating Cash Flow i	2.3B	2.4B	806.0M	2.4B	1.2B
Investing Activities
Capital Expenditures i	-160.0M	-167.0M	-107.0M	-133.0M	-71.0M
Acquisitions i	124.0M	-812.0M	5.0M	898.0M	0
Investment Purchases i	-	-	-	-	-
Investment Sales i	-	-	-	-	0
Investing Cash Flow i	-36.0M	-979.0M	-102.0M	765.0M	-548.0M
Financing Activities
Share Repurchases i	-	-	-	-	-
Dividends Paid i	-626.0M	-579.0M	-544.0M	-508.0M	-467.0M
Debt Issuance i	2.0B	3.6B	1.9B	335.0M	3.2B
Debt Repayment i	-952.0M	-2.1B	-106.0M	-235.0M	-2.1B
Financing Cash Flow i	614.0M	1.1B	1.3B	-211.0M	1.1B
Free Cash Flow i	-808.0M	-265.0M	-1.6B	-390.0M	-1.2B
Net Change in Cash i	2.9B	2.6B	2.0B	3.0B	1.7B

Cash Flow Trend

CMS Energy Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 21.86

Forward P/E 20.70

Price to Book 2.72

Price to Sales 2.77

PEG Ratio 20.70

Profitability Ratios

Profit Margin 12.76%

Operating Margin 19.80%

Return on Equity 11.31%

Return on Assets 3.08%

Financial Health

Current Ratio 1.00

Debt to Equity 201.15

Beta 0.35

Per Share Data

EPS (TTM) $3.39

Book Value per Share $27.30

Revenue per Share $26.89

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
cms	22.2B	21.86	2.72	11.31%	12.76%	201.15
NextEra Energy	145.2B	24.57	2.86	7.59%	22.85%	152.94
Southern Company	105.6B	24.81	3.10	11.23%	15.10%	189.66
Duke Energy	97.8B	20.57	1.96	9.59%	15.72%	170.00
American Electric	60.7B	16.64	2.03	13.01%	17.66%	150.71
Dominion Energy	52.0B	20.26	1.98	9.14%	16.96%	151.44

Financial data is updated regularly. All figures are in the company's reporting currency.