Where do CMS Energy's ratios come from?

Every ratio is computed from CMS Energy's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

CMS Energy CMS Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Operating margin	19.5%-0.6pp	20.2%+0.4pp	20.7%+1.1pp	20%+1.5pp	20.2%+2.0pp
Net margin	12.5%-0.6pp	12.5%-0.8pp	12.6%-1.4pp	12.8%-0.3pp	13.1%-0.1pp
Returns
Return on equity	12.4%-0.1pp	12.3%-0.4pp	12.3%-1.4pp	12.5%-0.3pp	12.5%-0.4pp
Return on invested capital	5.1%-0.5pp	5.3%0.0pp	5.5%+0.2pp	5.5%+0.4pp	5.6%+0.5pp
Efficiency
Asset turnover	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×
Liquidity
Current ratio	0.8×-0.2×	1×+0.2×	0.9×-0.3×	1×-0.2×	1.1×-0.3×
Leverage
Debt-to-equity	2×0.0×	2.1×+0.1×	2×+0.1×	2.1×+0.2×	2×0.0×
Net debt / EBITDA	6.2×+0.4×	6×0.0×	5.9×0.0×	5.9×+0.1×	5.8×-0.1×
Per Share
Book value per share	$30.82+10.6%	——	$29.51+8.7%	$28.06+4.7%	$27.87+4.2%
Valuation
Market capitalization	$23.89B+6.4%	$21.28B+6.9%	$21.93B+3.9%	$20.85B+17.3%	$22.47B+24.7%
Price / earnings	21.6×-0.4×	19.9×0.0×	20.9×+0.8×	20.4×+2.1×	22×+3.5×
Price / sales	2.7×-0.2×	2.5×-0.2×	2.6×-0.2×	2.6×+0.2×	2.9×+0.4×
Price / book	2.5×-0.2×	2.3×-0.1×	2.5×-0.1×	2.5×+0.3×	2.7×+0.4×
EV / EBITDA	14×+0.3×	13.1×-0.2×	13.2×-0.5×	13.2×+0.5×	13.8×+0.7×

Chart any of these lines over time, or line them up against competitors.

Compare these in charts →

Ask your AI about CMS Energy.

Connect your AI assistant and get a quick read on the numbers, right in your chat.

Connect your AI

Claude

Questions, answered.

Where do CMS Energy's ratios come from?: Every ratio is computed from CMS Energy's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.