CMS Energy
CMS Energy is a Michigan-based energy holding company primarily focused on regulated utility operations. Through its subsidiaries, the company provides electric and natural gas services to a significant portion of Michigan's population while also managing a portfolio of independent power production and renewable energy projects.
Financials
Based on Q1 2026 filing
Revenue
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Electric Utility
primaryThis segment involves the generation, purchase, transmission, and distribution of electricity. It operates a diverse fleet of generation facilities and extensive distribution networks to serve millions of residents.
Electric Generation, Electric Distribution
Residential, Commercial, Diversified Industrial
Gas Utility
majorThis segment focuses on the purchase, transmission, storage, and distribution of natural gas. It utilizes a vast network of mains and storage facilities to provide heating and energy solutions.
Natural Gas Transmission, Natural Gas Storage, Natural Gas Distribution
Residential, Commercial, Industrial
NorthStar Clean Energy
moderateThe non-utility arm of the company engaged in domestic independent power production and marketing. It focuses on the development and operation of renewable generation assets and power marketing.
Renewable Generation, Independent Power Production, Energy Marketing
Wholesale Energy Buyers, Commercial Customers, Industrial Customers
Segment Financials
Electric Utility — Power supply cost
View metricElectric Utility — Costs and Expenses
View metricElectric Utility — Utilities Operating Expense
View metricGas Utility — Cost of gas sold
View metricGas Utility — Revenue recognized from contracts with customers
View metricGas Utility — Costs and Expenses
View metricNorthStar Clean Energy — Revenue recognized from contracts with customers
View metricNorthStar Clean Energy — Lease Income
View metricNorthStar Clean Energy — Income from Continuing Ops
View metricBusiness Overview
Competitive Position
CMS Energy holds a dominant, regulated market position as the primary utility provider for the majority of Michigan's Lower Peninsula residents.
Geographies
United States, Michigan
Customer Segments
Residential, Commercial, Industrial
Upstream Dependencies
Fuel Suppliers, Power Plant Equipment Manufacturers, Natural Gas Producers, Renewable Energy Technology Providers
Downstream Customers
Residential Homeowners, Small Business Owners, Large Industrial Manufacturers, Municipalities
Competitors & Partners
Competitors
Subsidiaries
Consumers Energy
The primary regulated electric and gas utility subsidiary
NorthStar Clean Energy
Non-utility independent power production and marketing arm
CMS Energy FAQ
Common questions about CMS Energy
CMS Energy is a Michigan-based energy holding company primarily focused on regulated utility operations. Through its subsidiaries, the company provides electric and natural gas services to a significant portion of Michigan's population while also managing a portfolio of independent power production and renewable energy projects.
CMS Energy (CMS) has a market capitalization of $22.3B and trades on NYSE.
CMS Energy generated $8.8B in trailing twelve-month revenue with net income of $1.1B, representing a net margin of 12.6%, with free cash flow of -$1.3B. These figures are based on the Q1 2026 filing.
CMS Energy's key competitors include DTE Energy, NextEra Energy, PG&E Corporation, and others. These companies compete in similar markets and product categories.
CMS Energy has approximately 8,356 employees.