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CMS Energy CMS Electric Utility — Revenue recognized from contracts with customers

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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 / equity2×0.0×
Current ratio0.8×-0.2×

Where this comes from

Reported directly by CMS Energy in its filing.

Tagged under the XBRL concept us-gaap:Revenues.

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 — revenue recognized from contracts with customers?
CMS Energy (CMS) reported electric utility — revenue recognized from contracts with customers of $1.37B in Q1 2026.
How has CMS Energy's electric utility — revenue recognized from contracts with customers changed year-over-year?
CMS Energy's electric utility — revenue recognized from contracts with customers increased by 5.3% year-over-year, from $1.3B to $1.37B.
What is the long-term trend for CMS Energy's electric utility — revenue recognized from contracts with customers?
Over 4 years (2021 to 2025), CMS Energy's electric utility — revenue recognized from contracts with customers has grown at a 3.3% compound annual growth rate (CAGR), from $4.96B to $5.64B.
What does electric utility — revenue recognized from contracts with customers mean?
This represents the total revenue generated from the sale of electricity to residential, commercial, and industrial customers under regulated service agreements. It reflects the core top-line performance of the electric utility segment based on energy delivery and service obligations.