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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$22.57B+1.0%
Enterprise value$41.43B+5.0%
P/E20.4×-1.5×
P/S2.6×-0.2×

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

Calculated from CMS Energy’s reported figures.

$490.0Mebit+
$412.0MDepreciation Depletion & Amortization
=$902M

The source filing: CMS Energy’s 10-Q, filed April 28, 2026. Open the filing →

Filed
Apr 28, 2026, 11:28 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000811156-26-000024

FAQ

What is CMS Energy's EBITDA?
CMS Energy (CMS) reported EBITDA of $902M in Q1 2026.
How has CMS Energy's EBITDA changed year-over-year?
CMS Energy's EBITDA increased by 2.3% year-over-year, from $882M to $902M.
What is the long-term trend for CMS Energy's EBITDA?
Over 4 years (2021 to 2025), CMS Energy's EBITDA has grown at a 7.6% compound annual growth rate (CAGR), from $2.26B to $3.03B.
What does EBITDA mean?
Earnings before interest, taxes, depreciation, and amortization — EBIT plus the D&A add-back from the cash-flow statement (EBITDA = EBIT + D&A). A proxy for cash earnings that strips out financing, tax, and non-cash charges.

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