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

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Profitability
Operating margin	81.1%+5.0pp	76.1%+19.3pp	56.7%-1.0pp	57.7%-15.2pp
Net margin	51%-2.6pp	53.6%+15.0pp	38.7%-20.9pp	59.5%+2.4pp
Returns
Return on equity	49.7%-2.5pp	52.1%+8.9pp	43.2%-31.7pp	74.9%+5.1pp
Return on invested capital	21.9%+1.1pp	20.7%+2.0pp	18.7%-3.2pp	21.9%-1.4pp
Efficiency
Asset turnover	0.9×0.0×	0.9×-0.1×	1×-0.1×	1.1×+0.1×
Liquidity
Current ratio	3.9×-0.6×	4.6×+0.7×	3.8×-0.9×	4.7×+1.2×
Leverage
Debt-to-equity	8.3×+0.3×	8×-0.4×	8.3×+0.7×	7.6×-1.1×
Net debt / EBITDA	23.7×+0.1×	23.5×-2.3×	25.8×+3.3×	22.5×+0.9×
Valuation
Market capitalization	$86.53B+12.7%	$76.81B+13.8%	$67.47B-10.2%	$75.16B+5.9%
Price / earnings	83.2×+6.3×	76.9×-12.1×	89×+24.4×	64.6×-8.8×
Price / sales	10.6×+0.3×	10.3×+1.9×	8.5×-0.8×	9.2×-1.0×
Price / book	10×+0.5×	9.5×+0.2×	9.3×-1.5×	10.9×-0.9×
EV / EBITDA	53.2×+0.5×	52.7×-2.8×	55.4×+0.2×	55.3×+3.5×

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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.