CMS Energy Corporation CMS

Utilities — Utilities Regulated Electric

63.07 0.30 0.48% as of 25 Sep

Market cap: $21.8B
P/E: 18.9×

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Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
P/E ratio	20.87	28.63	21.31	26.18	23.02	13.96	22.36	19.67	20.08	19.81
P/S ratio	1.80	2.00	2.04	2.68	2.71	2.57	2.15	2.31	2.64	2.46
P/FCF ratio	0.00	328.65	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
P/Operating CF	29.75	25.98	101.53	45.02	131.73	55.95	98.14	42.57	49.22	43.95
P/B ratio	2.69	2.94	2.92	3.52	2.86	2.70	2.50	2.18	2.33	2.21
Price to Tangible BV	2.69	2.94	2.92	3.52	2.86	2.70	2.50	2.18	2.33	2.21
EV/Sales	3.27	3.53	3.71	4.65	4.63	4.20	3.79	4.36	4.81	4.60
EV/EBITDA	10.12	10.48	12.18	14.63	13.08	13.63	13.85	13.48	13.26	12.95
EV/Operating CF	12.84	13.64	14.98	17.20	23.30	16.93	38.08	14.09	15.26	17.58
EV/FCF	(486.59)	581.60	(68.78)	(100.27)	(28.72)	(119.83)	(21.43)	(332.08)	(55.80)	(24.73)
Quick Ratio	0.41	0.45	0.44	0.39	0.30	0.64	0.59	0.41	0.35	0.55
Current Ratio	0.86	0.89	0.94	0.86	0.78	1.19	1.15	0.98	0.79	0.98
Net Debt/EBITDA	4.54	4.56	5.49	6.18	5.43	5.31	6.00	6.34	5.99	6.03
Debt/Assets	44.57%	44.76%	47.62%	49.03%	41.77%	43.38%	45.57%	46.39%	45.94%	47.31%
Debt/Equity	2.25	2.30	2.44	2.60	2.04	1.74	1.88	1.91	1.89	1.95
Asset Turnover	0.31	0.29	0.29	0.26	0.23	0.25	0.29	0.23	0.22	0.23
Operating CF/Net income	2.96	3.71	2.59	2.63	1.69	1.35	1.03	2.63	2.39	2.11
Capex/Depreciation	(2.06)	(1.89)	(2.22)	(2.12)	(2.22)	(1.86)	(2.11)	(2.04)	(2.43)	(2.93)
Interest Coverage	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ROE	13.33%	10.49%	14.17%	13.81%	13.56%	20.67%	11.54%	11.49%	12.09%	11.78%
ROA	2.63%	2.06%	2.76%	2.65%	2.67%	4.61%	2.75%	2.70%	2.86%	2.80%
ROIC	5.74%	5.73%	4.46%	3.86%	4.17%	3.73%	3.53%	3.29%	3.71%	3.86%
Return on Tangible Assets	3.59%	2.80%	3.66%	3.67%	3.71%	5.92%	3.57%	3.51%	3.71%	3.47%
Average Days of Receivables	47.51	57.89	51.94	49.76	49.59	46.96	67.09	46.18	51.63	56.55
Research and Development Expense of Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue	23.89%	23.09%	25.03%	25.47%	25.51%	27.28%	24.21%	28.60%	28.21%	26.23%
Intangible Assets out of Total Assets	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Share Based Compensation of Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Graham Net Nets	(1.30)	(1.22)	(1.23)	(1.09)	(1.22)	(1.01)	(1.10)	(1.31)	(1.23)	(1.27)
Graham Number	26.29	24.29	29.84	31.06	35.66	50.26	40.41	42.87	46.26	50.08
Earnings Yield	4.79%	3.49%	4.69%	3.82%	4.34%	7.16%	4.47%	5.08%	4.98%	5.05%
Free Cash Flow Yield	(0.37%)	0.30%	(2.65%)	(1.73%)	(5.95%)	(1.37%)	(8.23%)	(0.57%)	(3.27%)	(7.56%)
Revenue per Share	23.03	23.51	24.36	23.41	22.52	25.36	29.69	25.63	25.25	28.43
Operating CF per Share	5.86	6.09	6.03	6.33	4.48	6.29	2.95	7.93	7.96	7.44
Capex per Share	(6.02)	(5.95)	(7.35)	(7.41)	(8.11)	(7.18)	(8.20)	(8.27)	(10.14)	(12.73)
Free Cash Flow per Share	(0.15)	0.14	(1.31)	(1.08)	(3.63)	(0.89)	(5.25)	(0.34)	(2.18)	(5.29)
Cash per Share	0.91	0.71	0.62	0.55	0.17	1.65	0.63	0.85	0.60	2.05
Shareholders Equity per Share	15.44	15.99	16.98	17.86	21.32	24.87	26.23	27.90	29.40	32.33
Interest Debt per Share	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share	15.44	15.99	16.98	17.86	21.32	24.87	26.23	27.90	29.40	32.33
Free Cash Flow	(43.00)	40.00	(371.00)	(307.00)	(1,035.00)	(257.00)	(1,519.00)	(98.00)	(648.00)	(1,589.00)
Working Capital	(375.00)	(309.00)	(156.00)	(373.00)	(670.00)	423.00	448.00	(56.00)	(731.00)	(76.00)
Capital Expenditures	(1,672.00)	(1,665.00)	(2,074.00)	(2,097.00)	(2,311.00)	(2,076.00)	(2,374.00)	(2,407.00)	(3,018.00)	(3,824.00)
Net Current Asset Value	(15,052.00)	(16,097.00)	(17,269.00)	(19,451.00)	(21,185.00)	(18,938.00)	(20,325.00)	(22,553.00)	(24,382.00)	(26,758.00)
EV/EBIT	16.66	17.39	21.96	27.61	24.17	26.87	26.60	26.35	24.32	22.75
Capex to Sales	0.26	0.25	0.30	0.32	0.36	0.28	0.28	0.32	0.40	0.45
Net Profit Margin	8.61%	6.99%	9.56%	10.27%	11.76%	18.39%	9.62%	11.75%	13.21%	12.43%
Price to Operating Income	9.19	9.83	12.06	15.95	14.14	16.40	15.07	13.96	13.34	12.16
Other line items
Depreciation/Fixed assets	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.04
Cash ROIC	(99.34%)	(100.41%)	(98.66%)	(93.29%)	(106.61%)	(101.96%)	(99.06%)	(95.15%)	(98.68%)	(97.33%)
Accounts Receivable Turnover	7.91	7.01	6.80	7.04	7.23	8.08	6.81	5.91	7.49	7.16
Accounts Payable Turnover	4.48	4.21	4.15	4.14	3.85	3.95	4.57	3.34	2.81	2.62
Inventory Turnover	3.99	4.38	4.63	4.51	4.25	4.94	4.67	2.84	3.13	4.19
Average Days of Payables	79.43	94.97	87.49	81.81	97.22	105.34	82.03	101.37	149.53	156.91
Days of Inventory on Hand	81.52	86.24	77.58	77.95	83.83	79.30	97.89	117.53	105.20	88.40
Average Receivables	809.00	938.50	1,011.00	940.50	887.50	907.50	1,261.50	1,262.00	1,003.50	1,193.00
Average Payables	626.00	675.00	736.50	684.00	651.50	777.00	911.00	872.50	951.00	1,248.50
Average Inventory	702.00	649.00	661.00	627.50	590.50	621.50	892.00	1,027.50	853.50	780.00
Average Assets	20,960.50	22,336.00	23,789.50	25,683.00	28,251.50	29,209.50	30,053.00	32,435.00	34,718.50	37,930.50
Average Common Equity	4,132.50	4,384.00	4,635.00	4,923.50	5,566.00	6,520.50	7,167.50	7,636.00	8,212.50	9,005.50

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