What is CMS Energy's D&A?

CMS Energy (CMS) reported D&A of $412M in Q1 2026.

How has CMS Energy's D&A changed year-over-year?

CMS Energy's D&A increased by 6.2% year-over-year, from $388M to $412M.

What is the long-term trend for CMS Energy's D&A?

Over 4 years (2021 to 2025), CMS Energy's D&A has grown at a 4.1% compound annual growth rate (CAGR), from $1.11B to $1.31B.

Total non-cash depreciation of tangible assets and amortization of intangible assets — the largest add-back to net income in the operating cash flow reconciliation.

CMS Energy CMS D&A

D&A at other companies

Nextra EnergyNEE

$1.37B+25.2%

Xcel EnergyXEL

$767M+4.5%

Duke EnergyDUK

$1.97B+25.7%

NorthWestern Energy Group, Inc.NWE

$66.83M+7.1%

BKH

Black HillsBKH

$74.8M+8.1%

Constellation EnergyCEG

$1.2B+87.8%

Segments

By segment

See full

Electric Utility$233M+5.4%

Gas Utility$167M+8.4%

NorthStar Clean Energy$12M-7.7%

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

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

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Market cap$23.17B+11.2%

Enterprise value$42.02B+10.8%

P/E20.9×+0.6×

P/S2.6×0.0×

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×

Where this comes from

Reported directly by CMS Energy in its filing.

Tagged under the XBRL concept us-gaap:DepreciationDepletionAndAmortization.

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 D&A?: CMS Energy (CMS) reported D&A of $412M in Q1 2026.
How has CMS Energy's D&A changed year-over-year?: CMS Energy's D&A increased by 6.2% year-over-year, from $388M to $412M.
What is the long-term trend for CMS Energy's D&A?: Over 4 years (2021 to 2025), CMS Energy's D&A has grown at a 4.1% compound annual growth rate (CAGR), from $1.11B to $1.31B.
What does D&A mean?: Total non-cash depreciation of tangible assets and amortization of intangible assets — the largest add-back to net income in the operating cash flow reconciliation.