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) Return on invested capital
CMS Energy Corporation's return on invested capital over the twelve months to 30 June 2026 was 3.56%, down 0.3 percentage points from fiscal 2025 (3.86%). Over the past ten years it has ranged from 3.29% (fiscal 2023) to 5.74% (fiscal 2016); the current reading is higher than 55% of that period. That is below the Utilities Regulated Electric industry median of 3.87% and in line with the Utilities sector median of 3.63%.
Return on invested capital, annual
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Annual newest first
| Period | Return on invested capital | Change (points) |
|---|---|---|
| FY2025 | 3.86% | 0.15 |
| FY2024 | 3.71% | 0.42 |
| FY2023 | 3.29% | (0.24) |
| FY2022 | 3.53% | (0.20) |
| FY2021 | 3.73% | (0.44) |
| FY2020 | 4.17% | 0.31 |
| FY2019 | 3.86% | (0.60) |
| FY2018 | 4.46% | (1.27) |
| FY2017 | 5.73% | (0.01) |
| FY2016 | 5.74% | 0.04 |
Against its own ten years
Return on invested capital against peers
| Company | Return on invested capital |
|---|---|
| EIX Edison International compare | 6.48% |
| ES Eversource Energy compare | 4.32% |
| EVRG Evergy Inc. compare | 4.15% |
| PPL PPL Corporation compare | 4.04% |
| CNP CenterPoint Energy, Inc. compare | 3.89% |
| CMS CMS Energy Corporation | 3.56% |
| DTE DTE Energy Company compare | 3.46% |
| FE FirstEnergy Corporation compare | 3.34% |
| LNT Alliant Energy Corporation compare | 3.12% |
| Utilities Regulated Electric industry median | 3.87% |
| Utilities sector median | 3.63% |
| Market median | 0.00% |
What Return on invested capital is
Return on Invested Capital shows how much after-tax operating profit a company earns on the money its lenders and shareholders have put in.
TTM: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) (latest quarter) + Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter) − Cash & Short Term Investments (latest quarter)); Annual: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) + Long Term Debt (Total) + Current Part of Debt − Cash & Short Term Investments)
More on CMS
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- 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
- 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