Discontinued — last reported Q3 '25
CMS Energy Unbilled Revenue decreased by 21.1% to $520.00M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 6.3%, from $489.00M to $520.00M. Over 5 years (FY 2020 to FY 2025), Unbilled Revenue shows an upward trend with a 8.6% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
An increase often signals strong project pipeline execution, while a decrease might suggest a slowdown in project milestones or billing cycles.
This represents revenue recognized for services performed under contracts where the billing milestone has not yet been r...
Standard in project-based service firms; peers often report this as part of contract assets.
unbilled_revenue| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $361.00M | $340.00M | $486.00M | $491.00M | $387.00M | $369.00M | $663.00M | $447.00M | $339.00M | $321.00M | $494.00M | $472.00M | $446.00M | $391.00M | $584.00M | $489.00M | $464.00M | $381.00M | $659.00M | $520.00M |
| QoQ Change | — | -5.8% | +42.9% | +1.0% | -21.2% | -4.7% | +79.7% | -32.6% | -24.2% | -5.3% | +53.9% | -4.5% | -5.5% | -12.3% | +49.4% | -16.3% | -5.1% | -17.9% | +73.0% | -21.1% |
| YoY Change | — | — | — | — | +7.2% | +8.5% | +36.4% | -9.0% | -12.4% | -13.0% | -25.5% | +5.6% | +31.6% | +21.8% | +18.2% | +3.6% | +4.0% | -2.6% | +12.8% | +6.3% |