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CMS Energy CMS Gas Utility — Plant, property, and equipment, gross

Other segment segments

Electric Utility
$22.25B+9.4%
NorthStar Clean Energy
$1.67B+11.2%
Independent power production
$1.59B+9.2%
Other
$3M+200%

Similar metrics at other companies

BKH
BKHGas Utilities — Property Plant And Equipment Gross
$5.07B+7.5%
BKH
BKHGas Utilities — PP&E (Net)
$4.33B+6.5%
Unitil logo
UTLPublic Utilities Property Plant And Equipment Gas
$1.44B+13.1%
BKH
BKHGas Utilities — Property Plant And Equipment Gross Period Increase Decrease
$68.4M+15.9%
MGE Energy logo
MGEEGas — Public Utilities Property Plant And Equipment Plant In Service
$670.28M+5.6%
MDU Resources Group logo
MDUNatural gas distribution — Property, Plant and Equipment, Gross
$4B+7.3%

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 cms:PropertyPlantAndEquipmentGrossExcludingCWIP.

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 gas utility — plant, property, and equipment, gross?
CMS Energy (CMS) reported gas utility — plant, property, and equipment, gross of $14.37B in Q1 2026.
How has CMS Energy's gas utility — plant, property, and equipment, gross changed year-over-year?
CMS Energy's gas utility — plant, property, and equipment, gross increased by 7.2% year-over-year, from $13.41B to $14.37B.
What is the long-term trend for CMS Energy's gas utility — plant, property, and equipment, gross?
Over 4 years (2021 to 2025), CMS Energy's gas utility — plant, property, and equipment, gross has grown at a 7.9% compound annual growth rate (CAGR), from $40.69B to $55.13B.
What does gas utility — plant, property, and equipment, gross mean?
The total historical cost of the gas utility's physical assets, including pipelines, storage facilities, and distribution infrastructure, before accumulated depreciation. This reflects the scale of the capital investment required to maintain gas service.