How has CMS Energy's northstar clean energy — variable lease income changed year-over-year?

CMS Energy's northstar clean energy — variable lease income increased by 19.4% year-over-year, from $31M to $37M.

What does northstar clean energy — variable lease income mean?

Lease payments that vary based on an index or rate, such as performance-based payments tied to energy output or market prices. This captures the upside potential of leasing arrangements beyond fixed rental fees.

CMS Energy CMS NorthStar Clean Energy — Variable lease income

Similar metrics at other companies

IBMVariable Lease Income

$20M+66.7%

MDLNVariable Lease Income

$500K0.0%

BAXVariable lease income

$7M0.0%

RMRVariable lease payments

$319.25K+10.3%

WELLOperating Lease Variable Income

$19.57M-66.0%

IRMStorage rental — Variable lease payments

$59.9M+74.1%

Other financials

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

See full

Market cap$23.63B+16.1%

Enterprise value$42.49B+13.5%

P/E21.4×+1.4×

P/S2.7×+0.1×

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×

Where this comes from

Reported directly by CMS Energy in its filing.

Tagged under the XBRL concept us-gaap:OperatingLeaseVariableLeaseIncome.

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

Ask your AI about CMS Energy's northstar clean energy — variable lease income.

Connect your AI assistant and compare it to peers, right in your chat.

Connect your AI

Claude

Questions, answered.

What is CMS Energy's northstar clean energy — variable lease income?: CMS Energy (CMS) reported northstar clean energy — variable lease income of $37M in Q1 2026.
How has CMS Energy's northstar clean energy — variable lease income changed year-over-year?: CMS Energy's northstar clean energy — variable lease income increased by 19.4% year-over-year, from $31M to $37M.
What does northstar clean energy — variable lease income mean?: Lease payments that vary based on an index or rate, such as performance-based payments tied to energy output or market prices. This captures the upside potential of leasing arrangements beyond fixed rental fees.