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CMS Energy CMS Total costs & expenses

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Segments

By segment

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Electric Utility$1.19B+8.4%
Gas Utility$911M+23.4%
NorthStar Clean Energy$138M+19.0%

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$22.57B+1.0%
Enterprise value$41.43B+5.0%
P/E20.4×-1.5×
P/S2.6×-0.2×

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:CostsAndExpenses.

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
Three Months Ended March 31, 2026Electric UtilityGas UtilityNorth Star Clean EnergySegments TotalOther Reconciling ItemsConsolidated
Maintenance and other operating expenses277139304462448
Depreciation and amortization23316712412412
General taxes79913173173
Total operating expenses1,1899111382,23822,240
Operating Income (Loss)179333(20)492(2)490
Other income4323773275
Interest charges8356214162203
Income (Loss) Before Income Taxes139300(15)424(62)362

Item 1. Financial Statements

FAQ

What is CMS Energy's total costs & expenses?
CMS Energy (CMS) reported total costs & expenses of $2.24B in Q1 2026.
How has CMS Energy's total costs & expenses changed year-over-year?
CMS Energy's total costs & expenses increased by 14.7% year-over-year, from $1.95B to $2.24B.
What is the long-term trend for CMS Energy's total costs & expenses?
Over 4 years (2021 to 2025), CMS Energy's total costs & expenses has grown at a 2.5% compound annual growth rate (CAGR), from $6.18B to $6.81B.

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