What is CMS Energy's income tax?

CMS Energy (CMS) reported income tax of $85M in Q1 2026.

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

CMS Energy's income tax increased by 34.9% year-over-year, from $63M to $85M.

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

Over 4 years (2021 to 2025), CMS Energy's income tax has grown at a 26.9% compound annual growth rate (CAGR), from $95M to $246M.

What does income tax mean?

Total income tax expense (current + deferred) recognized in the income statement, representing the company's total tax obligation on pre-tax income.

CMS Energy CMS Income Tax

Income Tax at other companies

Nextra EnergyNEE

-$489M+6.1%

PG&EPCG

$20M-48.7%

Xcel EnergyXEL

-$47M+23.0%

Duke EnergyDUK

$119M-15.0%

NorthWestern Energy Group, Inc.NWE

$13.8M-9.3%

BKH

Black HillsBKH

$17.6M-2.8%

Segments

By segment

See full

Gas Utility$80M+15.9%

Electric Utility$29M+26.1%

NorthStar Clean Energy$7M-36.4%

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

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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:IncomeTaxExpenseBenefit.

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 income tax?: CMS Energy (CMS) reported income tax of $85M in Q1 2026.
How has CMS Energy's income tax changed year-over-year?: CMS Energy's income tax increased by 34.9% year-over-year, from $63M to $85M.
What is the long-term trend for CMS Energy's income tax?: Over 4 years (2021 to 2025), CMS Energy's income tax has grown at a 26.9% compound annual growth rate (CAGR), from $95M to $246M.
What does income tax mean?: Total income tax expense (current + deferred) recognized in the income statement, representing the company's total tax obligation on pre-tax income.