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Company research / CMS

CMS Energy Corp (CMS)

Also trades as CMS-PC, CMSA, CMSC, CMSD. Every security a company lists rests on one set of financial statements, so these figures cover the whole company.

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SEC name CMS ENERGY CORP · CIK 0000811156 · NYSE · Electric & Other Services Combined

  • Sector Transportation & Utilities
  • Incorporated MI
  • Fiscal year ends Dec 31

For the year ended 2025-12-31, CMS Energy Corp reported revenue of $8.54B. Revenue grew 13.6% from the prior annual period. Over the twelve months to 2026-06-30, revenue was $8.81B.

Key ratios (year ended 2025-12-31)

20.2%
Operating margin
12.5%
Net margin
11.0%
Return on year-end equity
13.6%
Revenue growth (YoY)

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Latest selected filing: Form 4 (ownership change) · 2026-08-03

Headquarters locality: Jackson · View on map

Annual financials

Annual flows and balances are grouped by their actual period end. Select a figure to open its SEC filing. n/a means a matching observation is unavailable. Free cash flow is operating cash flow minus capital expenditures, and EBITDA is operating income plus depreciation and amortization, for the same period, computed by TickerFacts.

The first column covers the twelve months to 2026-06-30 from the latest quarterly report: flows are the last fiscal year plus this year to date minus the same months a year earlier, and balances are as of that date. Per-share figures are annual only.

Period endedTTM to
2026-06-30		2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Revenue$8.81B$8.54B$7.51B$7.46B$8.60B$7.33B$6.42B$6.62B$6.87B$6.58B$6.40B
Operating Income$1.67B$1.73B$1.49B$1.24B$1.22B$1.15B$1.23B$1.11B$1.16B$1.34B$1.26B
Depreciation & Amortization$1.35B$1.31B$1.24B$1.18B$1.13B$1.11B$1.04B$989.00M$933.00M$881.00M$811.00M
EBITDA$3.02B$3.03B$2.73B$2.42B$2.35B$2.26B$2.27B$2.10B$2.10B$2.22B$2.07B
Net Income$1.03B$1.07B$1.00B$887.00M$837.00M$1.35B$755.00M$680.00M$657.00M$460.00M$551.00M
EPS (Diluted)n/a$3.53$3.33$3.01$2.85$4.66$2.64$2.39$2.32$1.64$1.98
Total Assets$40.91B$39.94B$35.92B$33.52B$31.35B$28.75B$29.67B$26.84B$24.53B$23.05B$21.62B
Shareholders' Equity$10.40B$9.71B$8.75B$8.12B$7.59B$7.19B$6.08B$5.05B$4.79B$4.48B$4.29B
Cash & Equivalents$241.00M$509.00M$103.00M$227.00M$164.00M$452.00M$32.00M$140.00M$153.00M$182.00M$235.00M
Operating Cash Flow$2.15B$2.23B$2.37B$2.31B$855.00M$1.82B$1.28B$1.79B$1.70B$1.71B$1.63B
Capital Expendituresn/an/an/an/a$2.37B$2.08B$2.31B$2.10B$2.07B$1.67B$1.67B
Free Cash Flown/an/an/an/a-$1.52B-$257.00M-$1.03B-$307.00M-$371.00M$40.00M-$43.00M
Shares Outstanding313.60M306.40M298.80M294.40M291.30M289.80M288.90M283.90M283.40M281.60M279.20M
Dividends Per Sharen/a$2.17$2.06$1.95$1.84$1.74$1.63$1.53$1.43$1.33$1.24
Weighted Average Diluted Sharesn/a301.00M298.30M291.70M290.00M289.50M286.30M284.30M282.90M280.80M278.90M
EPS (Basic)n/a$3.53$3.34$3.01$2.85$4.66$2.65$2.40$2.33$1.64$1.99

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