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CMS Energy (CMS)

NYSE Utilities Multi-Utilities S&P 500
$69.18
-1.50 (-2.12%)
Close of Nov 06, 2026 · end-of-day data
Source: CMS Energy's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 04, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$6.40B$6.58B$6.50B$6.40B$6.24B$7.08B$8.32B$7.26B$7.32B$8.30B
Operating income$1.26B$1.34B$1.16B$1.11B$1.23B$1.15B$1.22B$1.24B$1.49B$1.73B
Interest expense$435.00M$438.00M$458.00M$460.00M$505.00M$500.00M$519.00M$643.00M$708.00M$789.00M
Pre-tax income$826.00M$886.00M$774.00M$764.00M$809.00M$823.00M$902.00M$954.00M$1.12B$1.25B
Income tax$273.00M$424.00M$115.00M$131.00M$115.00M$95.00M$93.00M$147.00M$176.00M$246.00M
Net income$551.00M$460.00M$657.00M$680.00M$755.00M$1.35B$837.00M$887.00M$1.00B$1.07B
EBITDA$2.07B$2.22B$2.10B$2.10B$2.27B$2.26B$2.35B$2.42B$2.73B$3.03B
EPS (basic)$1.99$1.64$2.33$2.40$2.65$4.66$2.85$3.01$3.34$3.53
EPS (diluted)$1.98$1.64$2.32$2.39$2.64$4.66$2.85$3.01$3.33$3.53
Diluted shares278.90M280.80M282.90M284.30M286.30M289.50M290.00M291.70M298.30M301.00M
Operating margin19.6%20.3%17.9%17.4%19.7%16.2%14.7%17.0%20.3%20.8%
Net margin8.6%7.0%10.1%10.6%12.1%19.1%10.1%12.2%13.7%12.9%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$235.00M$182.00M$153.00M$140.00M$32.00M$452.00M$164.00M$227.00M$103.00M$509.00M
Receivables$821.00M$1.03B$964.00M$886.00M$853.00M$931.00M$1.56B———
Total current assets$2.28B$2.48B$2.47B$2.33B$2.40B$2.63B$3.43B$2.84B$2.79B$3.47B
Total assets$21.62B$23.05B$24.53B$26.84B$29.67B$28.75B$31.35B$33.52B$35.92B$39.94B
Total current liabilities$2.65B$2.78B$2.62B$2.70B$3.07B$2.20B$2.98B$2.90B$3.52B$3.55B
Short-term debt$886.00M$1.10B$996.00M$1.11B$571.00M$373.00M$1.09B$975.00M$1.19B$950.00M
Long-term debt$8.64B$9.12B$10.62B$11.95B$11.74B$12.05B$13.12B$14.51B$15.19B$17.81B
Total debt$9.53B$10.23B$11.61B$13.06B$12.31B$12.42B$14.21B$15.48B$16.39B$18.76B
Total liabilities$17.37B$18.61B$19.77B$21.82B$24.17B$22.12B$24.34B$25.97B$27.69B$30.80B
Shareholders' equity$4.25B$4.44B$4.75B$5.02B$5.50B$6.63B$7.01B$7.54B$8.23B$9.14B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$1.63B$1.71B$1.70B$1.79B$1.28B$1.82B$855.00M$2.31B$2.37B$2.23B
Capital expenditures$1.67B$1.67B$2.07B$2.10B$2.31B$2.08B$2.37B———
Free cash flow-$43.00M$40.00M-$371.00M-$307.00M-$1.03B-$257.00M-$1.52B$2.31B$2.37B$2.23B
Investing cash flow-$1.92B-$1.87B-$2.61B-$2.82B-$2.87B-$1.23B-$2.48B-$3.39B-$3.05B-$4.04B
Financing cash flow$255.00M$110.00M$874.00M$1.01B$1.62B-$295.00M$1.33B$1.14B$614.00M$2.24B
Depreciation & amortization$811.00M$881.00M$933.00M$989.00M$1.04B$1.11B$1.13B$1.18B$1.24B$1.31B

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.