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Saturday 17 October 2026 Export CMS’s income statement to Excel — free account

CMS Energy Corporation

CMS Utilities Utilities Regulated Electric

CMS Energy Corporation’s revenue for fiscal 2025 (year ended December 2025) was $8.5 billion, up 13.6% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS fell 43.9%, free cash flow grew 26.6% and total debt rose 6.96%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for three consecutive years; insiders bought in the last twelve months.

68.93 1.99 +2.97%
Market cap
$21.0B
P/E
20.7×
Fwd P/E
18.6×
Dividend yield
3.27%
F-score
5/9
Altman Z
0.86
Beneish M
−2.41
Dividend safety
27/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

CMS Energy Corporation (CMS) Debt to equity

Alert me on Debt to equity

CMS Energy Corporation's debt to equity at the end of the quarter to 30 June 2026 was 1.9×, down 0.1× from fiscal 2025 (1.9×). Over the past ten years it has ranged from 1.7× (fiscal 2021) to 2.6× (fiscal 2019); the current reading is higher than 45% of that period. That is above the Utilities Regulated Electric industry median of 1.5× and above the Utilities sector median of 1.2×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 1.9× 3.16%
FY2024 1.9× (1.44%)
FY2023 1.9× 1.72%
FY2022 1.9× 8.41%
FY2021 1.7× (14.89%)
FY2020 2.0× (21.66%)
FY2019 2.6× 6.79%
FY2018 2.4× 5.79%
FY2017 2.3× 2.57%
FY2016 2.2× (3.20%)

Quarterly newest first

Period Debt to equity Change
Jun 2026 1.9× (2.22%)
Mar 2026 1.9× (2.46%)
Dec 2025 1.9× 1.55%
Sep 2025 1.9× (4.73%)
42 more quarters

Against its own ten years

Low 1.7× High 2.6×
Ten-year median 2.0×
Current reading's percentile 45

Debt to equity against peers

Company Debt to equity
EVRG Evergy Inc. compare 1.3×
PPL PPL Corporation compare 1.4×
LNT Alliant Energy Corporation compare 1.6×
ES Eversource Energy compare 1.8×
CMS CMS Energy Corporation 1.9×
FE FirstEnergy Corporation compare 2.0×
CNP CenterPoint Energy, Inc. compare 2.1×
EIX Edison International compare 2.2×
DTE DTE Energy Company compare 2.3×
Utilities Regulated Electric industry median 1.5×
Utilities sector median 1.2×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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