What is CMS Energy's pre-tax income?

CMS Energy (CMS) reported pre-tax income of $362M in Q1 2026.

How has CMS Energy's pre-tax income changed year-over-year?

CMS Energy's pre-tax income increased by 1.1% year-over-year, from $358M to $362M.

What is the long-term trend for CMS Energy's pre-tax income?

Over 4 years (2021 to 2025), CMS Energy's pre-tax income has grown at a 11.0% compound annual growth rate (CAGR), from $823M to $1.25B.

What does pre-tax income mean?

Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.

CMS Energy CMS Pre-Tax Income

Pre-Tax Income at other companies

Nextra EnergyNEE

$1.2B+2,204%

PG&EPCG

$905M+34.5%

Xcel EnergyXEL

$509M+20.6%

Duke EnergyDUK

$1.13B+5.2%

NorthWestern Energy Group, Inc.NWE

$77.25M-16.2%

BKH

Black HillsBKH

$150.7M-2.5%

Segments

By segment

See full

Gas Utility$300M+6.4%

Electric Utility$139M-5.4%

NorthStar Clean Energy-$15M+6.3%

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:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest.

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 pre-tax income?: CMS Energy (CMS) reported pre-tax income of $362M in Q1 2026.
How has CMS Energy's pre-tax income changed year-over-year?: CMS Energy's pre-tax income increased by 1.1% year-over-year, from $358M to $362M.
What is the long-term trend for CMS Energy's pre-tax income?: Over 4 years (2021 to 2025), CMS Energy's pre-tax income has grown at a 11.0% compound annual growth rate (CAGR), from $823M to $1.25B.
What does pre-tax income mean?: Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.