What is CMS Energy's market cap?

CMS Energy (CMS) has a market capitalization of $23.5B and trades on NYSE.

What is CMS Energy's revenue and profitability?

CMS Energy generated $8.8B in trailing twelve-month revenue with net income of $1.1B, representing a net margin of 12.5%, with free cash flow of $1.1B. These figures are based on the Q1 2026 filing.

Who are CMS Energy's competitors?

CMS Energy's key competitors include NextEra Energy, DTE Energy, Entergy Corporation, and others. These companies compete in similar markets and product categories.

What subsidiaries does CMS Energy have?

CMS Energy's subsidiaries include Consumers Energy, NorthStar Clean Energy.

Where is CMS Energy headquartered?

CMS Energy is headquartered in United States of America and employs approximately 8,356 people. It has been publicly traded since 1972.

CMS Energy

CMS

CMS Energy is a Michigan-based energy holding company primarily focused on regulated utility operations.

Market cap

$23.54B+11.7%

Revenue$8.8B+13.3%

Net income$1.1B+8.5%

Free cash flow$1.1B-30.5%

EPS (diluted)$3.62+7.1%

Trailing twelve months · change vs. prior year

Table of contents

Earnings

Q1 2026 report

April 28, 2026

Revenue$2.7BBeat by $271.7M EPS$1.13Beat by $0.02

Read the full report

Next report

Jul 28, 2026 (In 2 weeks)

Revenue estimate$1.9B

EPS estimate$0.79

Financials

Q1 2026

Income statement

See full

Revenue$2.7B+11.6%

Operating income$490.0M-0.8%

Net income$340.0M+11.8%

EPS (diluted)$1.10+8.9%

Balance sheet

See full

Cash & equivalents$263.0M-50.0%

Total debt$19.1B+12.7%

Total equity$9.5B+13.6%

Total assets$40.3B+11.0%

Cash flow

See full

Operating cash flow$705.0M-29.5%

CapEx$1.0B+17.0%

Free cash flow-$334.0M-398%

Valuation & ratios

Valuation

See full

Market cap$23.54B+11.7%

Enterprise value$42.39B+11.0%

P/E21.3×+0.7×

P/S2.7×0.0×

Profitability

See full

Operating margin19.5%-0.6pp

Net margin12.5%-0.6pp

FCF margin12.8%-8.1pp

Returns & leverage

See full

Return on equity12.4%-0.1pp

Debt / equity2×0.0×

Current ratio0.8×-0.2×

Segments

By product

See full

Residential$1.6B+17.2%

Commercial$723.0M+10.0%

Industrial$235.0M+15.8%

Other$96.0M-38.5%

By segment

See full

Electric Utility$1.4B+5.3%

Gas Utility$1.2B+18.6%

NorthStar Clean Energy$118.0M+19.2%

Competitors

By market cap

Nextra Energy$182.37B+19.9%

Duke Energy$98.8B+8.4%

Entergy$53.4B+45.9%

Xcel Energy$49.7B+26.4%

PG&E$37.5B+22.8%

DTE Energy$31.5B+15.0%

CMS

CMS Energy$23.5B+11.7%

NorthWestern Energy Group, Inc.$4.3B+34.3%

By revenue growth

DTE Energy+20.9%

CMS

CMS Energy+13.3%

Nextra Energy+9.3%

NorthWestern Energy Group, Inc.+9.1%

PG&E+5.3%

Duke Energy+4.0%

Entergy+2.1%

By net margin

Nextra Energy29.64%+7.8pp

Duke Energy15.66%+1.3pp

Entergy14.36%-2.4pp

CMS

CMS Energy12.55%-0.6pp

PG&E11.44%+1.6pp

Xcel Energy11.14%—

NorthWestern Energy Group, Inc.10.21%-5.5pp

DTE Energy7.65%-3.6pp

Profile

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.

Competitive position

CMS Energy holds a dominant, regulated market position as the primary utility provider for the majority of Michigan's Lower Peninsula residents.

GeographiesUnited States, Michigan

Customer segmentsResidential, Commercial, Industrial

Business modelRegulated Monopoly, Asset-heavy Infrastructure, Independent Power Production

SuppliersFuel Suppliers, Power Plant Equipment Manufacturers, Natural Gas Producers, Renewable Energy Technology Providers

CustomersResidential Homeowners, Small Business Owners, Large Industrial Manufacturers, Municipalities

CountryUnited States of America

Listed1972

Employees8.4K

CEOGarrick J. Rochow

SectorUtilities

IndustryRegulated Electric

Websitecmsenergy.com

FilingsSEC EDGAR

Ask your AI about CMS Energy.

Connect your AI assistant and dig into the numbers, right in your chat.

Connect your AI

Claude

Questions, answered.

What is CMS Energy's market cap?: CMS Energy (CMS) has a market capitalization of $23.5B and trades on NYSE.
What is CMS Energy's revenue and profitability?: CMS Energy generated $8.8B in trailing twelve-month revenue with net income of $1.1B, representing a net margin of 12.5%, with free cash flow of $1.1B. These figures are based on the Q1 2026 filing.
Who are CMS Energy's competitors?: CMS Energy's key competitors include NextEra Energy, DTE Energy, Entergy Corporation, and others. These companies compete in similar markets and product categories.
What subsidiaries does CMS Energy have?: CMS Energy's subsidiaries include Consumers Energy, NorthStar Clean Energy.
Where is CMS Energy headquartered?: CMS Energy is headquartered in United States of America and employs approximately 8,356 people. It has been publicly traded since 1972.