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) Net margin
CMS Energy Corporation's net margin over the twelve months to 30 June 2026 was 11.5%, down 0.9 percentage points from fiscal 2025 (12.4%). Over the past ten years it has ranged from 6.99% (fiscal 2017) to 18.4% (fiscal 2021); the current reading is higher than 82% of that period. That is below the Utilities Regulated Electric industry median of 12.9% and in line with the Utilities sector median of 11.5%.
Net margin, annual
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Annual newest first
| Period | Net margin | Change (points) |
|---|---|---|
| FY2025 | 12.4% | (0.78) |
| FY2024 | 13.2% | 1.46 |
| FY2023 | 11.8% | 2.13 |
| FY2022 | 9.62% | (8.77) |
| FY2021 | 18.4% | 6.63 |
| FY2020 | 11.8% | 1.49 |
| FY2019 | 10.3% | 0.71 |
| FY2018 | 9.56% | 2.57 |
| FY2017 | 6.99% | (1.62) |
| FY2016 | 8.61% | 0.51 |
Quarterly newest first
| Period | Net margin | Change (points) |
|---|---|---|
| Jun 2026 | 6.40% | (5.98) |
| Mar 2026 | 12.4% | (0.43) |
| Dec 2025 | 12.8% | (0.80) |
| Sep 2025 | 13.6% | 2.84 |
| 42 more quarters | Free account |
Against its own ten years
Net margin against peers
| Company | Net margin |
|---|---|
| EIX Edison International compare | 19.3% |
| LNT Alliant Energy Corporation compare | 18.5% |
| EVRG Evergy Inc. compare | 15.2% |
| PPL PPL Corporation compare | 13.5% |
| CNP CenterPoint Energy, Inc. compare | 11.6% |
| CMS CMS Energy Corporation | 11.5% |
| ES Eversource Energy compare | 10.4% |
| DTE DTE Energy Company compare | 8.00% |
| FE FirstEnergy Corporation compare | 6.86% |
| Utilities Regulated Electric industry median | 12.9% |
| Utilities sector median | 11.5% |
| Market median | 0.45% |
What Net margin is
Net Profit Margin tells an investor how much of each unit of revenue ends up as profit for shareholders after all costs, interest and taxes.
Net Income Allotted to Shareholders ÷ Revenue
More on CMS
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating 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