What is CMS Energy's taxes paid?

CMS Energy (CMS) reported taxes paid of -$5M in Q4 2025.

How has CMS Energy's taxes paid changed year-over-year?

CMS Energy's taxes paid increased by 71.0% year-over-year, from -$17.25M to -$5M.

What is the long-term trend for CMS Energy's taxes paid?

Over 4 years (2021 to 2025), CMS Energy's taxes paid has grown at a 5.7% compound annual growth rate (CAGR), from $16M to -$20M.

What does taxes paid mean?

Actual cash paid to tax authorities for income taxes during the period — may differ from income tax expense due to timing.

CMS Energy CMS Taxes Paid

Taxes Paid at other companies

Nextra EnergyNEE

-$523M-119%

PG&EPCG

$0—

CNP

CenterPoint EnergyCNP

$11M+650%

BKH

Black HillsBKH

-$14.8M+2.6%

UnitilUTL

$0—

Portland General ElectricPOR

$1M+200%

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$22.94B+7.5%

Enterprise value$41.8B+8.8%

P/E20.7×-0.1×

P/S2.6×-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:IncomeTaxesPaidNet.

The official record: CMS Energy’s 10-K, filed February 10, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is CMS Energy's taxes paid?: CMS Energy (CMS) reported taxes paid of -$5M in Q4 2025.
How has CMS Energy's taxes paid changed year-over-year?: CMS Energy's taxes paid increased by 71.0% year-over-year, from -$17.25M to -$5M.
What is the long-term trend for CMS Energy's taxes paid?: Over 4 years (2021 to 2025), CMS Energy's taxes paid has grown at a 5.7% compound annual growth rate (CAGR), from $16M to -$20M.
What does taxes paid mean?: Actual cash paid to tax authorities for income taxes during the period — may differ from income tax expense due to timing.