CMS Energy Corporation CMS
- Market cap
- $21.8B
- P/E
- 18.8×
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Target Price Range
Analyst price targets
Free account| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 34.96 | 41.12 | 40.48 | 47.97 | 46.03 | 53.19 | 52.41 | 49.87 | 55.10 | 63.97 |
Analyst estimates 2026–2028 Powerpack |
Low Price
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| 46.25 | 50.85 | 53.82 | 65.31 | 69.17 | 65.79 | 73.76 | 65.72 | 72.40 | 76.45 |
High Price
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| 7,800 | 7,952 | 8,625 | 8,789 | 9,345 | 9,778 | 9,073 | 8,356 | 8,324 | 8,350 |
Employees
|
|||
| 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
Revenue/Emp
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| 6,399 | 6,583 | 6,873 | 6,624 | 6,418 | 7,329 | 8,596 | 7,462 | 7,515 | 8,539 |
Revenue
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| 56.20% | 56.80% | 55.51% | 57.23% | 60.92% | 58.11% | 51.55% | 60.96% | 64.50% | 61.75% |
Gross Margin
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| 826 | 886 | 774 | 764 | 809 | 823 | 902 | 954 | 1,123 | 1,248 |
EBT
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| 12.91% | 13.46% | 11.26% | 11.53% | 12.61% | 11.23% | 10.49% | 12.78% | 14.94% | 14.62% |
EBT Margin
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| 553 | 462 | 659 | 682 | 752 | 1,330 | 813 | 808 | 947 | 1,002 |
Net Income
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| 811 | 881 | 933 | 989 | 1,043 | 1,114 | 1,126 | 1,180 | 1,240 | 1,306 |
Depreciation
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| 23.03 | 23.51 | 24.36 | 23.41 | 22.52 | 25.36 | 29.69 | 25.63 | 25.25 | 28.43 |
Revenue/Sh
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| 1.99 | 1.64 | 2.33 | 2.40 | 2.65 | 4.66 | 2.85 | 3.01 | 3.33 | 3.53 |
Earnings/Sh
|
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| 5.86 | 6.09 | 6.03 | 6.33 | 4.48 | 6.29 | 2.95 | 7.93 | 7.96 | 7.44 |
Cash Flow/Sh
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| (6.02) | (5.95) | (7.35) | (7.41) | (8.11) | (7.18) | (8.20) | (8.27) | (10.14) | (12.73) |
Capex/Sh
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| (0.15) | 0.14 | (1.31) | (1.08) | (3.63) | (0.89) | (5.25) | (0.34) | (2.18) | (5.29) |
Free CF/Sh
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| 15.44 | 15.99 | 16.98 | 17.86 | 21.32 | 24.87 | 26.23 | 27.90 | 29.40 | 32.33 |
Book Value/Sh
|
|||
| 278 | 280 | 282 | 283 | 285 | 289 | 290 | 291 | 298 | 300 |
Shares
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| 20.87 | 28.63 | 21.31 | 26.18 | 23.02 | 13.96 | 22.36 | 19.67 | 20.08 | 19.81 |
PE Ratio
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| 1.80 | 2.00 | 2.04 | 2.68 | 2.71 | 2.57 | 2.15 | 2.31 | 2.64 | 2.46 |
PS Ratio
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| 2.69 | 2.94 | 2.92 | 3.52 | 2.86 | 2.70 | 2.50 | 2.18 | 2.33 | 2.21 |
PB Ratio
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| 3.27 | 3.53 | 3.71 | 4.65 | 4.63 | 4.20 | 3.79 | 4.36 | 4.81 | 4.60 |
EV/Sales
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| (486.59) | 581.60 | (68.78) | (100.27) | (28.72) | (119.83) | (21.43) | (332.08) | (55.80) | (24.73) |
EV/FCF
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| 1,629 | 1,705 | 1,703 | 1,790 | 1,276 | 1,819 | 855 | 2,309 | 2,370 | 2,235 |
Op' Cash Flow
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| (1,672) | (1,665) | (2,074) | (2,097) | (2,311) | (2,076) | (2,374) | (2,407) | (3,018) | (3,824) |
Capex
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| (43) | 40 | (371) | (307) | (1,035) | (257) | (1,519) | (98) | (648) | (1,589) |
FCF
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| (375) | (309) | (156) | (373) | (670) | 423 | 448 | (56) | (731) | (76) |
Working Cap'
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| 9,636 | 10,317 | 11,680 | 13,157 | 12,391 | 12,474 | 14,289 | 15,550 | 16,501 | 18,898 |
Total Debt
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| 9,382 | 10,118 | 11,506 | 13,000 | 12,342 | 11,998 | 14,107 | 15,302 | 16,323 | 18,283 |
Net Debt
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| 4,290 | 4,478 | 4,792 | 5,055 | 6,077 | 7,188 | 7,595 | 8,125 | 8,748 | 9,711 |
Sh' Equity
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| 2.63% | 2.06% | 2.76% | 2.65% | 2.67% | 4.61% | 2.75% | 2.70% | 2.86% | 2.80% |
ROA
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| 5.74% | 5.73% | 4.46% | 3.86% | 4.17% | 3.73% | 3.53% | 3.29% | 3.71% | 3.86% |
ROIC
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| 13.33% | 10.49% | 14.17% | 13.81% | 13.56% | 20.67% | 11.54% | 11.49% | 12.09% | 11.78% |
ROE
|
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CMS Energy Corporation (CMS) key facts
- CMS Energy Corporation (CMS) is an Utilities Regulated Electric company in the Utilities sector, listed on the New York Stock Exchange.
- CMS Energy Corporation’s revenue for fiscal 2025 (year ended December 2025) was $8.5 billion, up 13.6% from fiscal 2024.
- Net income was $1.0 billion, or $3.53 per share (basic), a net margin of 12.4%.
- As of September 25, 2026, CMS traded at $63.07, a market capitalization of $21.8 billion.
- At that price the stock trades at 18.8× trailing-twelve-month earnings and 2.2× sales.
- CMS Energy Corporation pays an annual dividend of $1.95 per share, a yield of 3.68%, with a payout ratio of 75.8%.
- Return on equity was 11.8% and debt-to-equity 1.86.
CMS Energy Corporation (CMS) Latest News
22 Sep
Consumers Energy reports its customer-centered storm response delivered faster restorations in 2026. Investments in tree trimming, stronger poles and equipment, grid technology, weather forecasting, and crew positioning helped shorten outages. In March 2026, 80% of 340,000 affected customers were restored within 24 hours - 16% better than March 2025 and 26% better than February 2023. In June 2026, 91% of 238,000 affected by tornadoes and winds were restored within 24 hours, a 35% improvement over May 2025 and August 2023 storms. During July heat events, 71% were restored in 24 hours and 87% in 48 hours, with September 3-4 yielding 90% in 8 hours and 97% in 12 hours. The company, serving 6.8 million of Michigan's 10 million residents, cites a continuing Reliability Roadmap. Faster restoration metrics and ongoing reliability investments signal meaningful improvements likely to influence future performance.
3 Sep
Consumers Energy launches a plan to deliver reliable and affordable energy across Michigan for future generations. Plan targets long-term energy reliability and affordability that may stabilize operations without immediate major market shifts.
30 Jul
CMS Energy Corporation is exiting renewables and pivoting to regulated operations, potentially shifting its investment narrative. CMS Energy's exit from renewables and pivot to regulated operations marks a major strategic shift that could significantly alter its trajectory and investor sentiment.
29 Jul
CMS Energy exits renewable development operations. The strategic shift raises questions about whether the stock remains undervalued. Exit from renewable development marks a major strategic pivot likely to reshape CMS Energy's business focus and investor sentiment.
CMS Energy plans to sell renewable assets to focus on regulated utilities. Strategic divestiture of renewables to prioritize regulated utilities represents a major shift likely to reshape CMS Energy's operational focus and investor outlook.
CMS Energy Corporation held its Q2 2026 earnings call covering financial results, operations and outlook. Quarterly earnings updates provide financial details that moderately influence stock sentiment and near-term valuation.
28 Jul
CMS Energy Corp outlined strategic shifts and robust growth plans during its Q2 2026 earnings call. Strategic shifts and growth plans represent major moves likely to significantly alter CMS Energy trajectory.
CMS Energy Q2 earnings call highlighted financial results, operational updates and forward guidance for the utility company. Quarterly earnings details supply performance metrics that can shift near-term investor sentiment without altering long-term strategy.
CMS Energy reported second quarter results, announced a strategic decision on NorthStar Clean Energy Services, and introduced 2027 guidance. Quarterly results plus one strategic decision and 2027 guidance create moderate influence on operations and market view.
10 Jul
CMS Energy faces storm damage and rate regulatory questions, with analysis questioning whether its 6% undervaluation sufficiently accounts for these risks to future performance. Storm and rate uncertainties may pressure CMS Energy financial results and valuation sentiment but are unlikely to fundamentally shift long-term trajectory.
8 Jun
CMS Energy Corporation is advancing grid upgrades and renewable energy expansion to drive growth. Grid upgrades and renewable expansion represent major strategic moves that can significantly alter CMS Energy's trajectory and investor sentiment.
7 Jun
CMS Energy appoints new CFO team and executes leadership shuffle, altering the company's investment narrative and strategic outlook. Leadership and CFO changes at CMS Energy may shift internal strategy and investor sentiment without fundamentally transforming operations or market position.
4 Jun
Jefferies downgraded CMS Energy to hold and cut its price target after the surprise CFO exit, citing ongoing operational woes. CFO departure and resulting analyst downgrade may pressure short-term investor sentiment without changing core operations.
27 May
Consumers Energy prepares 2027 Reliability Action Plan targeting fewer and shorter power outages. Reliability plan signals operational upgrades likely to moderately improve performance and sentiment.
19 May
CAMS selected to deliver integrated services for Aviator Wind, one of the largest single-site wind projects in the United States. Services contract for major wind project boosts CMS renewables revenue and positioning.
9 May
CMS Energy Corporation achieved strong Q1 execution, positioning the company for full-year growth. Strong Q1 results signal major positive shift in financial performance and investor outlook for CMS Energy.
5 May
American Electric's Q1 earnings beat estimates, with revenues increasing year-over-year. Q1 earnings beat and Y/Y revenue growth positively affect financial performance and investor sentiment without fundamentally altering long-term trajectory.
29 Apr
CMS Energy Corp (CMS) reported strong EPS in Q1 2026 earnings call, overcoming storm-related challenges. Strong EPS despite storms positively influences financial performance with moderate long-term effects.
28 Apr
CMS Energy Corporation released Q1 2026 earnings call summary detailing financial results, operational performance, and forward-looking guidance. Quarterly earnings summaries provide critical financial metrics and strategic guidance that significantly influence CMS Energy's market performance and investor sentiment.
CMS Energy Corporation released the full transcript of its Q1 2026 earnings conference call. Q1 earnings results, operational updates, and future guidance significantly shape CMS Energy's market performance and investor sentiment.
CMS Energy's growth story centers on surging data center power demands and Michigan regulatory changes enabling faster grid expansions and cost recovery. Data center boom and supportive Michigan regulations position CMS Energy for major revenue growth and strategic advantages in utility operations.
CMS Energy Corporation's Q1 earnings beat analyst estimates, with revenues increasing year-over-year. Q1 earnings surpassing estimates and revenue growth year-over-year boost financial performance and investor sentiment significantly.
CMS Energy Corporation beat first-quarter earnings and revenue estimates, driven by solid performance at its electric and gas utilities. Surpassing Q1 earnings and revenue estimates enhances financial outlook and investor sentiment, potentially driving significant stock gains.
CMS Energy Corporation released Q1 earnings call highlights covering financial results, operational performance, customer growth, regulatory updates, and reaffirmed full-year guidance. Q1 earnings highlights reveal quarterly financials and guidance with moderate influence on investor sentiment and stock trajectory.
CMS Energy Corporation announced first-quarter 2026 results and reaffirmed its full-year 2026 adjusted EPS guidance. Q1 results announcement with reaffirmed EPS guidance signals stable financial performance but lacks major strategic shifts.
21 Apr
CMS Energy (CMS) reports earnings next week, with Wall Street expecting growth. Upcoming earnings report with expected growth may moderately affect financial performance and investor sentiment.
Consumers Energy deploys new weather stations to restore power faster after storms, enhance safety, and reduce associated costs. Weather stations improve storm response efficiency, safety, and cost savings for Consumers Energy, a key CMS subsidiary.
8 Apr
Consumers Energy argues to Michigan state commission that selling its 13 hydroelectric dams is the best option for the state. Sale of 13 hydroelectric dams constitutes a major strategic divestiture impacting CMS's asset base and future operations.
1 Apr
CMS Energy Corporation's quarterly earnings preview outlines key expectations, analyst forecasts, potential challenges, and factors influencing upcoming results. Quarterly earnings previews offer insights into expected financial performance that moderately influence investor sentiment and stock price ahead of actual results.
27 Mar
Consumers Energy unveils Reliability Action Plan, investing substantial funds to strengthen Michigan's electric grid and enhance reliability amid growing energy demands. Grid reliability investments represent a major strategic initiative boosting CMS's operational resilience and investor confidence.