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CMS Energy CMS Free cash flow margin

Free cash flow margin at other companies

Nextra Energy logo
Nextra EnergyNEE
10.5%-8.7pp
DTE Energy logo
DTE EnergyDTE
15.2%-8.2pp
PG&E logo
PG&EPCG
-16.3%
Entergy logo
EntergyETR
-20.9%+3,135pp
Duke Energy logo
Duke EnergyDUK
-1.8%
CNP
CenterPoint EnergyCNP
-28.4%-1.6pp

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$22.65B+6.4%
Enterprise value$41.5B+9.9%
P/E20.5×-0.4×
P/S2.6×-0.2×

Profitability

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Operating margin19.5%-0.6pp
Net margin12.5%-0.6pp

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.

Based on trailing twelve months.

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 free cash flow margin?
CMS Energy (CMS) reported free cash flow margin of 12.8% in Q1 2026.
How has CMS Energy's free cash flow margin changed year-over-year?
CMS Energy's free cash flow margin decreased by 38.7% year-over-year, from 20.8% to 12.8%.
What is the long-term trend for CMS Energy's free cash flow margin?
Over 3 years (2022 to 2025), CMS Energy's free cash flow margin has grown at a 9.5% compound annual growth rate (CAGR), from -49.7% to 65.3%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.