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Buy Day today: Neutral (53) Mixed market breadth · no major macro event

CMS Energy Corporation (CMS)

Utilities Utilities - Regulated Electric
72.00 $
Closing price · As of: 31. Jul 2026
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Basics

Market Cap
21.8$B
Shares Outstanding
309Mio.
Float
99.3%
Beta
0.3

Performance

Perf. 1M
6.50%
Perf. 3M
3.10%
Perf. 6M
12.90%
YTD Performance (%)
9.40%
52-Week-High Distance
-4.1%

Valuation

P/E
20.3
Forward P/E
20.1
PEG
3.0
P/B
2.5
P/S
2.5
EV/EBITDA
12.7
Price/FCF

Profitability

Gross Margin
40.6%
EBIT Margin
19.8%
Net Margin
12.6%
Return on Equity
10.4%
Return on Assets
3.1%

Balance Sheet & Safety

Equity Ratio
23.5%
Debt/Equity
2.0
Altman Z″
4.04
Piotroski
5 out of 9

Growth

Sales Growth Last Quarter
11.60%
EPS Growth Last Quarter
8.90%
Sales Growth (Year)
13.63%
Forward Sales Growth
4.24%
Forward EPS Growth
7.40%

Dividend

Dividend Yield
2.93%
Dividend Per Share (TTM)
2.23$
Payout Ratio
59.8%
Years Without a Cut
18Years
Increase Streak
18Years

Quality & Screener

Stage
3
RS Rating
43
EPS Rating
57
Piotroski
5 out of 9
Fundamental Rating
C (50 out of 100)
Altman Z″
4.04

AI Rating

Not yet rated — we only show a category once an SEC-backed file with at least two cited passages is available. How the Rating Is Built

Sales Per Quarter ($M)
2024: Q4 · 1,989.0 $M Q4 2025: Q1 · 2,447.0 $M Q1 2025: Q2 · 1,838.0 $M Q2 2025: Q3 · 2,021.0 $M Q3 2025: Q4 · 2,233.0 $M Q4 2026: Q1 · 2,730.0 $M Q1 2026: Q2 · 1,829.0 $M Q2
Earnings Per Share Per Quarter ($)
2024: Q4 · 0.89 $ Q4 2025: Q1 · 1.02 $ Q1 2025: Q2 · 0.67 $ Q2 2025: Q3 · 0.92 $ Q3 2025: Q4 · 0.96 $ Q4 2026: Q1 · 1.13 $ Q1 2026: Q2 · 0.37 $ Q2
Net Margin Per Quarter (%)
2024: Q4 · 13.3 % Q4 2025: Q1 · 12.4 % Q1 2025: Q2 · 10.9 % Q2 2025: Q3 · 13.7 % Q3 2025: Q4 · 12.9 % Q4 2026: Q1 · 12.5 % Q1 2026: Q2 · 6.6 % Q2
Operating Cash Flow Per Quarter ($M)
2024: Q4 · 403.0 $M Q4 2025: Q1 · 1,000.0 $M Q1 2025: Q2 · 414.0 $M Q2 2025: Q3 · 343.0 $M Q3 2025: Q4 · 478.0 $M Q4 2026: Q1 · 705.0 $M Q1 2026: Q2 · 622.0 $M Q2
Free Cash Flow Per Quarter ($M)
2024: Q4 · -515.0 $M Q4 2025: Q1 · 112.0 $M Q1 2025: Q2 · -470.0 $M Q2 2025: Q3 · -635.0 $M Q3 2025: Q4 · -596.0 $M Q4 2026: Q1 · -334.0 $M Q1 2026: Q2 · -345.0 $M Q2
Sales Growth vs. Year-Ago Quarter (%)
2024: Q4 · 2.0 % Q4 2025: Q1 · 12.5 % Q1 2025: Q2 · 14.4 % Q2 2025: Q3 · 15.9 % Q3 2025: Q4 · 12.3 % Q4 2026: Q1 · 11.6 % Q1 2026: Q2 · -0.5 % Q2
EPS Growth vs. Year-Ago Quarter (%)
2024: Q4 · -15.5 % Q4 2025: Q1 · 5.3 % Q1 2025: Q2 · 1.3 % Q2 2025: Q3 · 8.9 % Q3 2025: Q4 · 8.4 % Q4 2026: Q1 · 11.3 % Q1 2026: Q2 · -44.8 % Q2
Price Change in Quarter (%)
2024: Q4 · -4.9 % Q4 2025: Q1 · 13.6 % Q1 2025: Q2 · -7.1 % Q2 2025: Q3 · 6.5 % Q3 2025: Q4 · -3.8 % Q4 2026: Q1 · 11.8 % Q1

Quarterly Figures

Quarterly Figures
Quarter EPS (Earnings Per Share) EPS YoY (%) Sales ($M) Sales YoY (%) Net Margin (%) OCF ($M) FCF ($M)
2024: Q4 0.89 -15.50 1,989 2.00 13.30 403 -515
2025: Q1 1.02 5.30 2,447 12.50 12.40 1,000 112
2025: Q2 0.67 1.30 1,838 14.40 10.90 414 -470
2025: Q3 0.92 8.90 2,021 15.90 13.70 343 -635
2025: Q4 0.96 8.40 2,233 12.30 12.90 478 -596
2026: Q1 1.13 11.30 2,730 11.60 12.50 705 -334
2026: Q2 0.37 -44.80 1,829 -0.50 6.60 622 -345
What Do These Terms Mean?
EPS (Earnings Per Share):
Quarterly profit divided by the total share count — how much of the profit works out to a single share.
YoY (Year over Year):
Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
Sales:
All revenue for the quarter, before any costs are deducted — the top line of the income statement.
Net Margin:
What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
OCF (Operating Cash Flow):
The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
FCF (Free Cash Flow):
Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.

About the Company

CMS Energy Corporation ist ein Energieunternehmen, das vorwiegend in Michigan tätig ist. Das Unternehmen ist in drei Segmenten tätig: Electric Utility, Gas Utility und NorthStar Clean Energy.

Employees8,350
HeadquartersJackson, MI
Websitecmsenergy.com
IPO Date31. Dec 1984
Next Earnings30. Jul 2026

Management

Management
Name Title Birth Year
Garrick J. Rochow President, CEO & Director 1975
Tonya L. Berry Executive VP & COO 1973
Shaun M. Johnson J.D. EVP of Business Transformation & Chief Legal & Administrative Officer 1979
Brandon J. Hofmeister Senior Vice President of Strategy, Sustainability & External Affairs 1977
LeeRoy Wells Jr. SVP and President of Gas Delivery of Consumers Energy Company 1979
Srikanth Maddipati CFO & Executive VP 1983
Scott B. McIntosh Chief Accounting Officer, Controller & VP 1976
Jim G. Beechey VP of IT & Security and Chief Information Officer
Jason M. Shore Treasurer & VP of Investor Relations 1977
Melissa M. Gleespen Esq. VP, Chief Compliance Officer & Corporate Secretary 1968

Executives per the latest required filings; titles kept in their original language. Source: fundamental data.

Chart

Interactive price chart (TradingView).

Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)

Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.

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