MARKETSnap
  • Gainers &
    Losers
  • Most Active &
    More
  • 52-Week
    High/Low
  • P/E
    Ratios
    • Large Caps
    • Absolute
    • Total Market PE
  • Stocks
    Performance
    • Large Caps
    • Absolute
  • Industries
    Performance
    • Industry
    • Sector
  • Dividends
  • 📅 Calendar
    • Earnings Calendar
    • Dividends Calendar
    • Economics Calendar
  • 🔧 Tools
    • 💰 Intrinsic Value Calculator
    • 📈 Compounding Calculator
    • 🤖 Stock Pick Screener
  • More
    • Charts
    • Investment Compounding Calculator
    • Commodities
    • Currencies
    • Economic Indicators
      • Inflation
      • Consumer Sentiment
      • Recession Probability
      • Treasury Rates
      • GDP
CMS stock logo

CMS

CMS Energy Corporation

$68.39
-0.84
 (-1.21%)
Exchange:  NYSE
Market Cap:  21.444B
Shares Outstanding:  88.145M
Delayed data
Calculate CMS Intrinsic Value
5-year outlook →
Overview
Earnings
Financials
Valuation
Chart

About The Company

Sector:  Utilities
Industry:  Regulated Electric
   
CEO:  Garrick J. Rochow
Full Time Employees:  8350
Address: 
One Energy Plaza
Jackson
MI
49201
US
Website:  https://www.cmsenergy.com
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.

Click to read more…

Revenue Segmentation

MARKETSnap

Log in to continue

Log in to see the complete revenue and geographic breakdown.

Login — it's free

EPS

Historical EPS and analyst estimates in one chart. Log in for the full interactive view and links to detailed estimates.

Log in to continue

Log in for the full EPS chart and links to analyst estimates.

Login — it's free
View full analyst estimates

Earnings Call

Full text

Earnings transcript

Read the complete earnings call transcript.

AI summary

Key takeaways

Short, structured highlights from the call so you can focus on what matters.

2026/04/28 — 1 quarter 2026

Log in to continue

Log in to read the full transcript and AI-generated earnings summaries.

Login — it's free
Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202320242025
Revenue7,462,0007,515,0008,539,000
Gross Profit2,862,0003,209,0005,201,120
EBITDA2,777,0003,071,0003,187,000
Operating Income1,235,0001,487,0001,727,000
Net Income887,0001,003,0001,071,000

Log in to continue

Log in to see the income statement and 10 historical years.

Login — it's free

(* All numbers are in thousands)

Balance Sheet

Year202320242025
Total Assets33,517,00035,920,00039,941,000
Total Liabilities25,392,00027,172,00030,230,000
Total Stockholders Equity7,544,0008,230,0008,920,000
Total Debt15,669,00016,590,00018,898,000
Cash and Cash Equivalents227,000103,000615,000

Log in to continue

Log in to see the balance sheet and 10 historical years.

Login — it's free

(* All numbers are in thousands)

Cash Flow Statement

Year202320242025
Operating Cash Flow2,309,0002,370,0002,235,000
Capital Expenditure-2,574,000-3,178,0000
Free Cash Flow-265,000-808,0002,235,000
Net Income808,000947,0001,071,000
Net Change in Cash66,000-70,000437,000

Log in to continue

Log in to see the cash flow statement and 10 historical years.

Login — it's free

(* All numbers are in thousands)

Analyst Estimates

Fiscal Year2030Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Low)9,872,800.473Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (High)10,924,686.905Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Avg)10,406,879.006Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Low)4,546,253.519Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (High)5,030,628.991Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Avg)4,792,187.428Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Low)1,469,364.777Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (High)1,676,238.737Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Avg)1,574,400.771Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Low)803,356.214Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (High)888,948.899Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Avg)846,814.533Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Avg)5.240Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (High)5.580Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Low)4.890Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated Revenue)4Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated EPS)1Research AccessResearch AccessResearch AccessResearch Access

Log in to continue

Log in and subscribe to Full Access to see up to 5 years of analyst estimates.

Login — it's free

(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
7.515B  ?P/S
 (TTM)
: 
2.43
?Net Income
 (TTM)
: 
1.003B  ?P/E
 (TTM)
: 
20.2
?Enterprise Value
 (TTM)
: 
40.468B  ?EV/FCF
 (TTM)
: 
-21.19
?Dividend Yield
 (TTM)
: 
3.3%  ?Payout Ratio
 (TTM)
: 
67.25%
?ROE
 (TTM)
: 
11.02%  ?ROIC
 (TTM)
: 
3.41%
?Net Debt
 (TTM)
: 
16.412B  ?Debt/Equity
 (TTM)
: 
1.97
?P/B
 (TTM)
: 
2.1  ?Current Ratio
 (TTM)
: 
0.92

Log in to continue

Log in to see all key valuation metrics and ratios for this symbol.

Login — it's free

Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Research Access for high/low estimates and the interactive table.

Forward P/E 1YResearch AccessResearch AccessResearch AccessResearch Access
17.76Research AccessResearch AccessResearch AccessResearch Access

Log in to continue

Log in with Full Access for forward P/E high/low estimates and the full multi-year table.

Login — it's free

SWOT Analysis

Strengths (preview)

  • Solid Financial Performance: CMS Energy reported strong adjusted earnings per share (EPS) in the 2025 Q2 earnings call, reflecting robust operational efficiency. Key metrics such as revenue, net income, and operating cash flow from recent income and cash flow statements indicate consistent profitability, aligning with positive industry trends in the utility sector.
  • Strategic Investments: The company is actively investing in infrastructure and clean energy initiatives, as highlighted in the Q2 2025 earnings call summary. These capital expenditures, evidenced by data from the cash flow statements under investments in property, plant, and equipment, position CMS for long-term growth and operational resilience.
  • Favorable Regulatory Environment: The earnings call transcript notes a constructive regulatory backdrop, which supports CMS Energy’s ability to execute its strategic plans and maintain stable returns, enhancing investor confidence.

Log in with Research Access for Weaknesses, Opportunities, Threats, and the complete SWOT.

Log in to continue

Log in with Full Access for the complete SWOT analysis.

Login — it's free

At what price to buy it? -
Intrinsic Value Calculator

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.

[intrinsic_calculator]

Common questions about CMS valuation

Is CMS Energy Corporation (CMS) overvalued or undervalued right now?

MARKETSnap estimates intrinsic value for CMS Energy Corporation (CMS) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is CMS a buy, hold, or sell for long-term investors?

MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether CMS trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is CMS’s P/E ratio?

You can see CMS’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for CMS?

MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is CMS a good long-term investment?

Whether CMS fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

CMS

1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.

Daily snapshot

-1.21
MARKETSnap

Trading Metrics:

Open: 68.63   Previous Close: 69.23
Day Low: 68.23   Day High: 68.75
Year Low: 67.9   Year High: 80.36
Price Avg 50: 73.28   Price Avg 200: 73.74
Volume: 437400   Average Volume: 3.429M

Log in to continue

Log in for multi-period charts (1W–5Y), period tabs, and the same layout as members.

Login — it's free

CMS full analysis

12/09/2025

Welcome to MARKETSNAP’s SWOT analysis for CMS Energy! If you’re a long-term investor looking to build wealth through smart stock picks, you’re in the right place. Today, we’re diving deep into CMS Energy, a key player in the energy sector, to break down its strengths, weaknesses, opportunities, and threats. Let’s unpack what makes this company tick, look at recent developments, and figure out if it’s a solid addition to your portfolio. Grab a coffee, and let’s get started! Overview of…

Open MarketSnap Listen

Log in to continue

Log in to see the full analysis preview and audio links.

Login — it's free

See in Nexus

Relevant news

CMS Energy Announces Second Quarter Results, Strategic Decision on NorthStar Clean Energy Services, Introduces Guidance for 2027
28-07-2026 06:30
CMS Energy Announces Second Quarter Results, Strategic Decision on NorthStar Clean Energy Services, Introduces Guidance for 2027
CMS Energy's Board of Directors Declares Quarterly Dividend on Common Stock
20-04-2026 13:00
CMS Energy's Board of Directors Declares Quarterly Dividend on Common Stock
Will CMS Energy (CMS) Beat Estimates Again in Its Next Earnings Report?
13-04-2026 13:11
Will CMS Energy (CMS) Beat Estimates Again in Its Next Earnings Report?
CMS Energy to Announce 2026 Second Quarter Results on July 28
07-07-2026 16:30
CMS Energy to Announce 2026 Second Quarter Results on July 28
CMS Energy Announces Polly Harris as Vice President of Human Resources
01-07-2026 14:00
CMS Energy Announces Polly Harris as Vice President of Human Resources
CMS Energy Announces Chris Shellberg as Vice President of Low-Voltage Electric Distribution
24-06-2026 14:00
CMS Energy Announces Chris Shellberg as Vice President of Low-Voltage Electric Distribution

DISCLAIMER: The stock market data provided on this website is for informational purposes only and is not intended for trading purposes. While we strive to provide accurate and timely information, we cannot guarantee that the information is accurate at the moment it is received or that it will continue to be accurate in the future. We are not responsible for any actions taken based on the information provided on this website. Always consult with a licensed financial professional before making any investment decisions.
Terms of Service

Copyright © 2025 MarketSnap. All rights reserved.

Contact Us

Privacy Policy

Cookie Policy

Terms of Service

Hover Image
MARKETSnap

Market

🇺🇸 United States

Language

    • Gainers & Losers
    • Most Active & More
    • 52-Week High/Low
    • Dividends
      • Large Caps
      • Absolute
      • Total Market PE
      • Large Caps
      • Absolute
      • Industry
      • Sector
  • 💰 Stock intrinsic value Calculator
  • 📈 Investment Compounding Calculator
  • 🤖 Stock Pick Screener
  • 📋 Watchlist & Portfolio
    • Earnings Calendar
    • Dividends Calendar
    • Economics Calendar
    • Commodities
    • Currencies
      • Inflation
      • Consumer Sentiment
      • Recession Probability
      • Treasury Rates
      • GDP
  • Philosophy
  • Nexus
  • Login Login
  • Profile Profile
  • Watchlist & Portfolio Watchlist & Portfolio
  • My Valuations My Valuations
  • Settings Settings

Media

Watch Listen Read