CMS Energy Corporation | Large-cap | Utilities
$74.09
1.11%
| CMS Energy Stock Comparison:
CMS Energy vs NextEra EnergyCMS Energy vs Southern CompanyCMS Energy vs Duke EnergyCMS Energy vs American ElectricCMS Energy vs Dominion EnergyCMS 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

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) 21.76
Forward P/E 20.60
Price to Book 2.70
Price to Sales 2.75
PEG Ratio 12.25

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 0.40

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 22.1B 21.76 2.70 11.31% 12.76% 201.15
NextEra Energy 173.1B 28.99 3.37 7.59% 22.85% 152.94
Southern Company 105.8B 24.91 3.12 11.23% 15.10% 189.66
Duke Energy 98.1B 20.55 1.96 9.59% 15.72% 170.00
American Electric 63.2B 17.33 2.11 13.01% 17.66% 150.56
Dominion Energy 51.9B 20.22 1.98 9.14% 16.96% 151.44

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