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CMS Energy CMS Net debt / EBITDA

Net debt / EBITDA at other companies

Nextra Energy logo
Nextra EnergyNEE
6.3×0.0×
DTE Energy logo
DTE EnergyDTE
5.8×+0.5×
PG&E logo
PG&EPCG
6.3×+0.2×
Entergy logo
EntergyETR
4.9×-1.0×
Duke Energy logo
Duke EnergyDUK
5.3×-0.4×
CNP
CenterPoint EnergyCNP
5.4×-0.2×

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 / equity2×0.0×
Current ratio0.8×-0.2×

Where this comes from

Calculated from CMS Energy’s reported figures.

net debt/ebitda=6.2×

Based on the most recent quarter.

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 net debt / EBITDA?
CMS Energy (CMS) reported net debt / EBITDA of 6.2× in Q1 2026.
How has CMS Energy's net debt / EBITDA changed year-over-year?
CMS Energy's net debt / EBITDA increased by 6.3% year-over-year, from 5.8× to 6.2×.
What is the long-term trend for CMS Energy's net debt / EBITDA?
Over 4 years (2021 to 2025), CMS Energy's net debt / EBITDA has grown at a 2.3% compound annual growth rate (CAGR), from 21.6× to 23.7×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.