CMS — CMS ENERGY CORP

NYSE · Utilities · Multi-Utilities · CIK 811156 ·
Last close
$74.70
Market Cap
$23.08B
52W High
$78.87
52W Low
$68.84
ADV30
3,381,534
Next earnings
2026-07-28
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and NorthStar Clean Energy. The Electric Utility segment is involved in the generation, purchase, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources. Its distribution system comprises 263 miles of high-voltage distribution overhead lines; 4 miles of high-voltage distribution underground lines; 4,619 miles of high-voltage distribution overhead lines; 18 miles of high-voltage distribution underground lines; 82,854 miles of electric distribution overhead lines; 10,027 miles of underground distribution lines; and 1,102 substations. The Gas Utility segment engages in the purchase, transmission, storage, distribution, and sale of natural gas, which includes 2,337 miles of transmission lines; 14 gas storage fields; 28,433 miles of distribution mains; and 8 compressor stations. The NorthStar Clean Energy segment is involved in the independent power production and marketing, including the development and operation of renewable generation. The company 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.

Quarterly Fundamentals

Revenues vs Net Income (last 4 Q)

Assets vs Liabilities (last 4 Q)

PeriodRevenuesGrossProfit OpIncomeNetIncomeAssets CashLiabilities
Mar 2026 2,730,000,000 1,075,000,000 490,000,000 340,000,000 40,285,000,000 175,000,000 30,234,000,000
Dec 2025 2,233,000,000 912,000,000 435,000,000 289,000,000 39,941,000,000 509,000,000 30,230,000,000
Sep 2025 2,021,000,000 876,000,000 481,000,000 277,000,000 38,008,000,000 362,000,000 28,577,000,000
Jun 2025 1,838,000,000 714,000,000 317,000,000 201,000,000 37,699,000,000 844,000,000 28,728,000,000

Cashflow TTM (yfinance, fills SEC gap)

Operating CF
$1,940,000,000
Investing CF
$-4,231,000,000
Financing CF
$2,692,000,000
CapEx
$-4,231,000,000
Dividends Paid
$-700,000,000
Buybacks
$0
EPS Diluted TTM
$3.59
As of
2026-05-10

Balance + Analyst (yfinance extras)

Retained Earnings
$2,605,000,000
Inventory
$642,000,000
Receivables
$1,416,000,000
ST Investments
EBIT TTM
$2,067,000,000
Pretax Income TTM
$1,252,000,000
Interest Exp TTM
$815,000,000
Analysts
14

Yahoo Snapshot (yfinance, live)

Total Revenue
$8,821,999,616
EBITDA
$3,048,000,000
Free Cash Flow
$-2,161,625,088
Enterprise Value
$42,621,386,752
Total Cash
$175,000,000
Total Debt
$19,081,000,960
Shares Out
308,919,602
Trailing EPS
$3.62
Book Value
$29.92
ROE
10.4%
ROA
3.1%
Div Yield
3.08%

Annual Trend (SEC EDGAR, last 4y)

Revenues vs Net Income (last 4y)

FY endRevenuesOpIncome NetIncomeAssetsLiabilities EquityOCF
Dec 2025 8,539,000,000 1,727,000,000 1,071,000,000 39,941,000,000 30,230,000,000 2,235,000,000
Dec 2024 7,515,000,000 1,487,000,000 1,003,000,000 35,920,000,000 27,172,000,000 2,370,000,000
Dec 2023 7,462,000,000 1,235,000,000 887,000,000 33,517,000,000 25,392,000,000 2,309,000,000
Dec 2022 8,596,000,000 1,224,000,000 837,000,000 31,353,000,000 23,758,000,000 855,000,000

TTM Snapshot

Revenues TTM
$6,832,000,000
NetIncome TTM
$858,000,000
OpCashFlow TTM
$0
Assets (Latest)
$35,920,000,000
Forward EPS
$4.17

Max Pain — expiry 2026-09-18

max pain strike: $75.00 · spot: $74.70 · call oi: 1,340 · put oi: 358
Expected Move to 2026-09-18: ±$5.45 (7.30%) — implied range $69.25$80.15 · ATM straddle on $75.00 strike

Peers — same industry

TickerNameMarket CapLastDaily %
NI NISOURCE INC. $22.38B $46.68
EVRG Evergy, Inc. $20.10B $87.18
LNT ALLIANT ENERGY CORP $19.36B $74.94
AEE AMEREN CORP $31.49B $113.78
WEC WEC ENERGY GROUP, INC. $37.71B $115.77

News headlines (Yahoo Finance, 1h cache)

PG&E Q2 Earnings Surpass Estimates, Revenues Increase Y/Y
2026-07-23 15:18 · Yahoo
NorthWestern (NWE) Reports Next Week: Wall Street Expects Earnings Growth
2026-07-22 14:00 · Yahoo
Earnings Preview: CMS Energy (CMS) Q2 Earnings Expected to Decline
2026-07-21 14:00 · Yahoo
CMS Energy's Board of Directors Declares Quarterly Dividend on Common Stock
2026-07-20 17:00 · Yahoo
PG&E Gears Up to Report Q2 Earnings: Here's What to Expect
2026-07-20 13:26 · Yahoo
Will CMS Energy (CMS) Beat Estimates Again in Its Next Earnings Report?
2026-07-14 16:10 · Yahoo
CMS Energy (CMS) Faces Storm And Rate Questions, Is The 6% Undervaluation Enough?
2026-07-10 14:16 · Yahoo
Consumers Energy Surpasses Goal to Restore over 6,500 acres of land throughout Michigan
2026-07-08 18:21 · Yahoo
Earnings Preview: What To Expect From CMS Energy's Report
2026-07-08 12:57 · Yahoo
CMS Energy to Announce 2026 Second Quarter Results on July 28
2026-07-07 20:30 · Yahoo

Recent Insider Activity

No insider activity indexed for this ticker.