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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) Operating margin

Alert me on Operating margin

CMS Energy Corporation's operating margin over the twelve months to 30 June 2026 was 19.0%, down 1.3 percentage points from fiscal 2025 (20.2%). Over the past ten years it has ranged from 14.2% (fiscal 2022) to 20.3% (fiscal 2017); the current reading is higher than 91% of that period. That is below the Utilities Regulated Electric industry median of 21.8% and in line with the Utilities sector median of 18.8%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 20.2% 0.43
FY2024 19.8% 3.24
FY2023 16.6% 2.31
FY2022 14.2% (1.40)
FY2021 15.6% (3.52)
FY2020 19.2% 2.33
FY2019 16.8% (0.08)
FY2018 16.9% (3.42)
FY2017 20.3% 0.70
FY2016 19.6% 1.38

Quarterly newest first

Period Operating margin Change (points)
Jun 2026 14.4% (3.52)
Mar 2026 18.0% (1.53)
Dec 2025 19.5% (4.32)
Sep 2025 23.8% 6.55
42 more quarters

Against its own ten years

Low 14.2% High 20.3%
Ten-year median 18.3%
Current reading's percentile 55

Operating margin against peers

Company Operating margin
EIX Edison International compare 32.7%
EVRG Evergy Inc. compare 26.2%
PPL PPL Corporation compare 24.1%
CNP CenterPoint Energy, Inc. compare 23.2%
LNT Alliant Energy Corporation compare 22.1%
ES Eversource Energy compare 21.6%
CMS CMS Energy Corporation 19.0%
FE FirstEnergy Corporation compare 14.6%
DTE DTE Energy Company compare 13.3%
Utilities Regulated Electric industry median 21.8%
Utilities sector median 18.8%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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