Is ATO or CMS cheaper?

On trailing earnings, CMS is cheaper: ATO trades at a 20.91 P/E and CMS at 20.16.

Which has grown faster, ATO or CMS?

Over the past five years, ATO grew revenue faster — ATO at a 8.80% CAGR versus CMS at 5.66%.

Does ATO or CMS pay a bigger dividend?

ATO yields 2.28% and CMS yields 3.02% based on trailing dividends and the latest price.

Is ATO or CMS more profitable?

ATO runs the higher net margin — ATO at 27.58% versus CMS at 12.55%.

Which has been the better investment, ATO or CMS?

Over the past 10-year, ATO delivered the higher annualized total return — ATO at 10.97% versus CMS at 8.60%. Past performance doesn't predict future results.

Atmos Energy Corporation (ATO) vs CMS Energy Corporation (CMS)

ATO leads on 9 of 16 compared metrics, though CMS is the cheaper stock.

A side-by-side comparison of Atmos Energy Corporation and CMS Energy Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 13, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

ATO

Atmos Energy Corporation

$28.37B

$169.96Utilities

CMS

CMS Energy Corporation

$22.73B

$73.57Utilities

Total return — ATO vs CMS

growth of $100 · last 30y

ATO +597.1%CMS +150.4%ATO compounded faster

ATO CMS

ATO vs CMS: by the numbers

•ATO is the larger company ($28.37B vs $22.73B market cap).
•CMS trades at the lower earnings multiple (20.16 vs 20.91 P/E).
•ATO converts more revenue to profit (27.58% vs 12.55% net margin).
•ATO grew revenue faster over the past five years (8.80% vs 5.66% CAGR).
•CMS pays the higher dividend yield (3.02% vs 2.28%).

Which is better, ATO or CMS?

Metric tally: ATO 9 · CMS 7

It depends on what you're optimizing for:

ValueCMS(lower P/E)

GrowthATO(faster 5Y revenue CAGR)

IncomeCMS(higher dividend yield)

QualityATO(higher ROIC)

Valuation

Metric	ATO	CMS
P/E ratio	20.91	20.16●
Forward P/E	18.97	17.63●
P/S ratio	5.84	2.51●
P/B ratio	1.91●	2.34
PEG ratio	2.18●	3.45
EV / EBITDA	14.73	12.67●

Profitability

Metric	ATO	CMS
Gross margin	51.43%	64.61%●
Operating margin	35.87%●	19.53%
Net margin	27.58%●	12.55%
ROE	9.03%	11.69%●
ROIC	4.58%●	3.67%

Dividends

Metric	ATO	CMS
Dividend yield	2.28%	3.02%●
Payout ratio	51.33%	63.03%

Growth (annualized)

Metric	ATO	CMS
Revenue CAGR (5Y)	8.80%●	5.66%
EPS CAGR (5Y)	9.05%●	5.90%
FCF CAGR (5Y)	19.32%●	-16.59%
Total return CAGR (5Y)	13.57%●	7.18%

Frequently asked

Which is better, ATO or CMS?: It depends on your goal. value: CMS (lower P/E); growth: ATO (faster 5Y revenue CAGR); income: CMS (higher dividend yield); quality: ATO (higher ROIC). Across all compared metrics, ATO leads 9 to 7.
Is ATO or CMS cheaper?: On trailing earnings, CMS is cheaper: ATO trades at a 20.91 P/E and CMS at 20.16.
Which has grown faster, ATO or CMS?: Over the past five years, ATO grew revenue faster — ATO at a 8.80% CAGR versus CMS at 5.66%.
Does ATO or CMS pay a bigger dividend?: ATO yields 2.28% and CMS yields 3.02% based on trailing dividends and the latest price.
Is ATO or CMS more profitable?: ATO runs the higher net margin — ATO at 27.58% versus CMS at 12.55%.
Which has been the better investment, ATO or CMS?: Over the past 10-year, ATO delivered the higher annualized total return — ATO at 10.97% versus CMS at 8.60%. Past performance doesn't predict future results.

Go deeper

Full ATO analysis Full CMS analysis Interactive comparison tool

Dig into the metrics

Atmos Energy P/E ratio CMS Energy P/E ratio Atmos Energy dividend yield CMS Energy dividend yield Atmos Energy ROE CMS Energy ROE Atmos Energy operating margin CMS Energy operating margin Atmos Energy revenue growth CMS Energy revenue growth Atmos Energy free cash flow CMS Energy free cash flow

Atmos Energy & CMS Energy appear in these rankings

Highest Dividend Yield Stocks Dividend Aristocrats Highest Operating Margin Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified June 13, 2026.