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.
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CMS Energy Corporation (CMS) Free cash flow
CMS Energy Corporation's free cash flow for fiscal 2025 was −$1.6B, compared with −$648.0M in fiscal 2024. Over the twelve months to 30 June 2026 it was −$1.9B. Over the past ten years it has ranged from −$1.6B (fiscal 2025) to $76.0M (fiscal 2015) — the current reading is the lowest in ten years. CMS Energy Corporation ranks 26th of 40 Utilities Regulated Electric companies by free cash flow.
Free cash flow, annual
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Annual newest first
| Period | Free cash flow | Change |
|---|---|---|
| FY2025 | −$1.6B | — |
| FY2024 | −$648.0M | — |
| FY2023 | −$98.0M | — |
| FY2022 | −$1.5B | — |
| FY2021 | −$257.0M | — |
| FY2020 | −$1.0B | — |
| FY2019 | −$307.0M | — |
| FY2018 | −$371.0M | — |
| FY2017 | $40.0M | — |
| FY2016 | −$43.0M | — |
Quarterly newest first
| Period | Free cash flow | Change |
|---|---|---|
| Jun 2026 | −$345.0M | — |
| Mar 2026 | −$334.0M | — |
| Dec 2025 | −$596.0M | — |
| Sep 2025 | −$635.0M | — |
| 42 more quarters | Free account |
Against its own ten years
Free cash flow against peers
| Company | Free cash flow |
|---|---|
| ES Eversource Energy compare | $297.7M |
| EIX Edison International compare | −$389.0M |
| LNT Alliant Energy Corporation compare | −$1.3B |
| EVRG Evergy Inc. compare | −$1.4B |
| CMS CMS Energy Corporation | −$1.9B |
| DTE DTE Energy Company compare | −$1.9B |
| FE FirstEnergy Corporation compare | −$2.0B |
| PPL PPL Corporation compare | −$2.0B |
| CNP CenterPoint Energy, Inc. compare | −$3.1B |
What Free cash flow is
Free Cash Flow tells an investor how much cash a company’s operations generate after paying for its investment in physical and intangible assets.
Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)
More on CMS
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement