Friday 6 November 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.

Revenue: +8.02%
EPS: −131.6%
Free cash flow: +26.3%
Total debt: +11.8%

Quarter to September 2026, against a year earlier

70.50 0.48 −0.68%

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Market cap: $22.2B
P/E: 33.3×
Fwd P/E: 19.2×
Dividend yield: 4.00%
F-score: 5/9
Altman Z: 0.86
Beneish M: −2.41
Dividend safety: 27/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

CMS Energy Corporation (CMS) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, CMS Energy Corporation (CMS) trades at a P/B ratio of 2.2×. Over the past ten years it has ranged from 1.9× (September 2026) to 3.9× (February 2020); the current reading is higher than 7% of that period. That is above the Utilities Regulated Electric industry median of 1.8× and above the Utilities sector median of 1.7×.

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<iframe src="https://stockrow.com/embed/CMS/pb-ratio" width="100%" height="360" style="border:0" loading="lazy" title="CMS Energy Corporation P/B ratio, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/CMS/metrics/pb-ratio">CMS Energy Corporation (CMS) P/B ratio — stockrow.com</a></p>

Period	P/B ratio	Change
FY2025	2.2×	(4.84%)
FY2024	2.3×	6.64%
FY2023	2.2×	(12.82%)
FY2022	2.5×	(7.28%)
FY2021	2.7×	(5.65%)
FY2020	2.9×	(18.67%)
FY2019	3.5×	20.32%
FY2018	2.9×	(0.40%)
FY2017	2.9×	9.12%
FY2016	2.7×	7.55%

Period	P/B ratio	Change
Sep 2026	2.0×	(15.96%)
Jun 2026	2.3×	(3.58%)
Mar 2026	2.4×	9.24%
Dec 2025	2.2×	(7.15%)
43 more quarters	Free account

Against its own ten years

Low 1.9× High 3.9×

Ten-year median 2.7×

Current reading's percentile 8

Company	P/B ratio
EIX Edison International compare	1.2×
ES Eversource Energy compare	1.7×
PPL PPL Corporation compare	1.8×
EVRG Evergy Inc. compare	1.8×
FE FirstEnergy Corporation compare	1.9×
CMS CMS Energy Corporation	2.2×
DTE DTE Energy Company compare	2.2×
CNP CenterPoint Energy, Inc. compare	2.2×
LNT Alliant Energy Corporation compare	2.4×
Utilities Regulated Electric industry median	1.8×
Utilities sector median	1.7×
Market median	1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

CMS Energy Corporation (CMS) P/B ratio

P/B ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/B ratio against peers

What P/B ratio is

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P/B ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/B ratio against peers

What P/B ratio is

More on CMS

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