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Segments

By segment

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Electric Utility$141M-3.4%
Gas Utility$133M-0.7%
NorthStar Clean Energy$41M+328%

Other financials

Income statement

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Revenue$2.7B+11.6%
Operating income$490.0M-0.8%
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$20.76B-1.2%
Enterprise value$39.61B+4.0%
P/E18.8×-1.8×
P/S2.4×-0.3×

Profitability

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Operating margin19.5%-0.6pp
Net margin12.5%-0.6pp
FCF margin12.8%-8.1pp

Returns & leverage

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Return on equity12.4%-0.1pp
Debt / equity0.0×
Current ratio0.8×-0.2×

Where this comes from

Reported directly by CMS Energy in its filing.

Tagged under the XBRL concept us-gaap:NetIncomeLoss.

The source filing: CMS Energy’s 10-Q, filed April 28, 2026.

Filed
Apr 28, 2026, 11:28 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000811156-26-000024
In Millions, Except Per Share Amounts / Three Months Ended March 31
Income Tax Expense63
Net Income295
Loss Attributable to Noncontrolling Interests(9)
Net Income Attributable to CMS Energy304
Preferred Stock Dividends2
Net Income Available to Common Stockholders$$302
Basic Earnings Per Average Common Share$$1.01
Diluted Earnings Per Average Common Share$$1.01

Item 1. Financial Statements

FAQ

What is CMS Energy's net income?
CMS Energy (CMS) reported net income of $340M in Q1 2026.
How has CMS Energy's net income changed year-over-year?
CMS Energy's net income increased by 11.8% year-over-year, from $304M to $340M.
What is the long-term trend for CMS Energy's net income?
Over 4 years (2021 to 2025), CMS Energy's net income has grown at a -5.7% compound annual growth rate (CAGR), from $1.35B to $1.07B.
What does net income mean?
The bottom line — total revenue minus all expenses, taxes, and costs. Represents the profit attributable to the company's shareholders after all obligations are met.

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