CMS Energy Corporation (CMS) vs NiSource Inc (NI)
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 July 31, 2026. Differences are shown without an overall score or investment verdict.
CMS
CMS Energy Corporation
$72.26UtilitiesDelayed quote: Jul 30, 2026, 4:00 PM EDT
NI
NiSource Inc
$45.07UtilitiesDelayed quote: Jul 30, 2026, 4:00 PM EDT
Total return — CMS vs NI
growth of $100 · dividends reinvested · last 30yCMS +506.9%NI +1980.0%NI compounded faster
CMS NI
CMS vs NI: by the numbers
- •CMS is the larger company ($22.66B vs $21.61B market cap).
- •CMS trades at the lower trailing earnings multiple (19.80 vs 22.42 P/E), one valuation lens rather than an overall verdict.
- •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 (3.08% vs 2.57%).
Metrics side by side
Valuation
| Metric | CMS | NI |
|---|---|---|
| P/E ratio | 19.80 | 22.42 |
| Forward P/E | 18.66 | 21.90 |
| P/S ratio | 2.46 | 3.18 |
| P/B ratio | 2.29 | 2.24 |
| PEG ratio | 3.48 | 1.05 |
| EV / EBITDA | 13.99 | 12.41 |
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 | 3.08% | 2.57% |
| 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% | N/A |
| Total return CAGR (5Y) | 6.41% | 16.27% |
Frequently asked
- Which has the lower trailing P/E, CMS or NI?
- CMS has the lower trailing P/E: CMS trades at 19.80 and NI at 22.42. P/E is one valuation measure and does not by itself establish which business is cheaper.
- 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 3.08% and NI yields 2.57% 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%.
- How have CMS and NI total returns compared?
- Over the past 10 years, CMS delivered 7.95% and NI delivered 9.13% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
CMS Energy P/E ratioNiSource P/E ratioCMS Energy dividend yieldNiSource dividend yieldCMS Energy ROENiSource ROECMS Energy operating marginNiSource operating marginCMS Energy revenue growthNiSource revenue growthCMS Energy free cash flowNiSource free cash flow
CMS Energy & NiSource appear in these rankings
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 July 31, 2026.