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CMS Energy CMS Unbilled Revenue

Unbilled Revenue at other companies

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CenterPoint EnergyCNP
$371M+8.5%
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$29.97M+0.5%
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UnitilUTL
$78.2M+29.3%
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Portland General ElectricPOR

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$22.33B+0.6%
Enterprise value$41.18B+4.8%
P/E20.2×-1.5×
P/S2.5×-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:UnbilledReceivablesCurrent.

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

Filed
Apr 28, 2026, 11:28 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000811156-26-000024

FAQ

What is CMS Energy's unbilled revenue?
CMS Energy (CMS) reported unbilled revenue of $520M in Q1 2026.
How has CMS Energy's unbilled revenue changed year-over-year?
CMS Energy's unbilled revenue increased by 6.3% year-over-year, from $489M to $520M.
What is the long-term trend for CMS Energy's unbilled revenue?
Over 5 years (2020 to 2025), CMS Energy's unbilled revenue has grown at a 8.6% compound annual growth rate (CAGR), from $437M to $659M.
What does unbilled revenue mean?
Unbilled revenue represents the value of electricity or gas delivered to customers that has not yet been invoiced as of the balance sheet date. This occurs due to the timing of meter reading cycles relative to the financial reporting period. It is a critical component of working capital for utility companies.

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