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CMS Energy CMS Electric Utility — Total Costs & Expenses

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BKHElectric Utilities — Costs And Expenses Allocated
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OTTRElectric — Electric Operating and Maintenance Expenses
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UTLUtilities
$161M+29.2%

Other financials

Income statement

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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

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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

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Operating cash flow$705.0M-29.5%
CapEx$1.0B+17.0%
Free cash flow-$334.0M-398%

Valuation

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Market cap$23.63B+16.1%
Enterprise value$42.49B+13.5%
P/E21.4×+1.4×
P/S2.7×+0.1×

Profitability

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Operating margin19.5%-0.6pp
Net margin12.5%-0.6pp
FCF margin12.8%-8.1pp

Returns & leverage

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Return on equity12.4%-0.1pp
Debt / equity0.0×
Current ratio0.8×-0.2×

Where this comes from

Reported directly by CMS Energy in its filing.

Tagged under the XBRL concept us-gaap:CostsAndExpenses.

The official record: CMS Energy’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is CMS Energy's electric utility — total costs & expenses?
CMS Energy (CMS) reported electric utility — total costs & expenses of $1.19B in Q1 2026.
How has CMS Energy's electric utility — total costs & expenses changed year-over-year?
CMS Energy's electric utility — total costs & expenses increased by 8.4% year-over-year, from $1.1B to $1.19B.
What is the long-term trend for CMS Energy's electric utility — total costs & expenses?
Over 3 years (2022 to 2025), CMS Energy's electric utility — total costs & expenses has grown at a -0.7% compound annual growth rate (CAGR), from $4.63B to $4.54B.
What does electric utility — total costs & expenses mean?
This is the aggregate of all operating costs, including power supply, maintenance, depreciation, and taxes, required to operate the electric utility segment. It serves as the primary measure of the total cost structure of the business.