Is CMS or NI cheaper?

On trailing earnings, CMS is cheaper: CMS trades at a 20.16 P/E and NI at 23.62.

Which has grown faster, CMS or NI?

Over the past five years, NI grew revenue faster — CMS at a 5.66% CAGR versus NI at 8.10%.

Does CMS or NI pay a bigger dividend?

CMS yields 3.02% and NI yields 2.44% based on trailing dividends and the latest price.

Is CMS or NI more profitable?

NI runs the higher net margin — CMS at 12.55% versus NI at 14.10%.

Which has been the better investment, CMS or NI?

Over the past 10-year, NI delivered the higher annualized total return — CMS at 8.60% versus NI at 9.98%. Past performance doesn't predict future results.

CMS Energy Corporation (CMS) vs NiSource Inc. (NI)

NI leads on 8 of 14 compared metrics, though CMS is the cheaper stock.

A side-by-side comparison of CMS Energy Corporation and NiSource Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 15, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

CMS

CMS Energy Corporation

Total return — CMS vs NI

growth of $100 · last 30y

CMS +149.9%NI +559.3%NI compounded faster

CMS NI

CMS vs NI: by the numbers

•CMS is the larger company ($22.82B vs $22.76B market cap).
•CMS trades at the lower earnings multiple (20.16 vs 23.62 P/E).
•NI converts more revenue to profit (14.10% vs 12.55% net margin).
•NI grew revenue faster over the past five years (8.10% vs 5.66% CAGR).
•CMS pays the higher dividend yield (3.02% vs 2.44%).

Which is better, CMS or NI?

Metric tally: CMS 6 · NI 8

It depends on what you're optimizing for:

ValueCMS(lower P/E)

GrowthNI(faster 5Y revenue CAGR)

IncomeCMS(higher dividend yield)

QualityNI(higher ROIC)

Metrics side by side

Valuation

Metric	CMS	NI
P/E ratio	20.16●	23.62
Forward P/E	17.63●	21.20
P/S ratio	2.51●	3.35
P/B ratio	2.34	2.36
PEG ratio	3.45	1.05●
EV / EBITDA	12.67	12.66

Profitability

Metric	CMS	NI
Gross margin	64.61%●	55.92%
Operating margin	19.53%	27.78%●
Net margin	12.55%	14.10%●
ROE	11.69%●	9.96%
ROIC	3.67%	4.51%●

Dividends

Metric	CMS	NI
Dividend yield	3.02%●	2.44%
Payout ratio	63.03%	59.18%

Growth (annualized)

Metric	CMS	NI
Revenue CAGR (5Y)	5.66%	8.10%●
EPS CAGR (5Y)	5.90%	14.27%●
FCF CAGR (5Y)	-16.59%	-7.40%●
Total return CAGR (5Y)	7.28%	16.40%●

Frequently asked

Which is better, CMS or NI?: It depends on your goal. value: CMS (lower P/E); growth: NI (faster 5Y revenue CAGR); income: CMS (higher dividend yield); quality: NI (higher ROIC). Across all compared metrics, NI leads 8 to 6.
Is CMS or NI cheaper?: On trailing earnings, CMS is cheaper: CMS trades at a 20.16 P/E and NI at 23.62.
Which has grown faster, CMS or NI?: Over the past five years, NI grew revenue faster — CMS at a 5.66% CAGR versus NI at 8.10%.
Does CMS or NI pay a bigger dividend?: CMS yields 3.02% and NI yields 2.44% based on trailing dividends and the latest price.
Is CMS or NI more profitable?: NI runs the higher net margin — CMS at 12.55% versus NI at 14.10%.
Which has been the better investment, CMS or NI?: Over the past 10-year, NI delivered the higher annualized total return — CMS at 8.60% versus NI at 9.98%. Past performance doesn't predict future results.

Go deeper

Full CMS analysis Full NI analysis Interactive comparison tool

Dig into the metrics

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

CMS Energy & NiSource appear in these rankings

Highest Dividend Yield 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 15, 2026.