Which has the lower trailing P/E, CMS or NI?

CMS has the lower trailing P/E: CMS trades at 19.87 and NI at 22.03. 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 5.09% CAGR versus NI at 8.18%.

Does CMS or NI pay a bigger dividend?

CMS yields 3.35% and NI yields 2.85% based on trailing dividends and the latest price.

Is CMS or NI more profitable?

NI runs the higher net margin — CMS at 11.64% versus NI at 13.15%.

How have CMS and NI total returns compared?

Over the past 10 years, CMS delivered 8.14% and NI delivered 9.30% annualized total return. Past performance doesn't predict future results.

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 September 13, 2026. Differences are shown without an overall score or investment verdict.

CMS

CMS Energy Corporation

$21.06B

$67.15UtilitiesDelayed quote: Sep 11, 2026, 4:00 PM EDT

NiSource Inc

$19.86B

$41.42UtilitiesDelayed quote: Sep 11, 2026, 3:59 PM EDT

Total return — CMS vs NI

growth of $100 · dividends reinvested · last 10y

CMS +110.9% (+7.7%/yr)NI +135.8% (+9.0%/yr)NI compounded faster over this window

CMS NI

CMS vs NI: by the numbers

•CMS is the larger company ($21.06B vs $19.86B market cap).
•CMS trades at the lower trailing earnings multiple (19.87 vs 22.03 P/E), one valuation lens rather than an overall verdict.
•NI converts more revenue to profit (13.15% vs 11.64% net margin).
•NI grew revenue faster over the past five years (8.18% vs 5.09% CAGR).
•CMS pays the higher dividend yield (3.35% vs 2.85%).

Metrics side by side

Valuation

Metric	CMS	NI
P/E ratio	19.87	22.03
Forward P/E	17.35	20.16
P/S ratio	2.39	2.89
P/B ratio	2.15	2.07
EV / EBITDA	14.07	11.92

Profitability

Metric	CMS	NI
Gross margin	60.91%	50.76%
Operating margin	18.95%	27.03%
Net margin	11.64%	13.15%
ROE	10.50%	9.45%
ROIC	3.41%	4.54%

Dividends

Metric	CMS	NI
Dividend yield	3.35%	2.85%
Payout ratio	66.64%	62.77%

Growth (annualized)

Metric	CMS	NI
Revenue CAGR (5Y)	5.09%	8.18%
EPS CAGR (5Y)	5.90%	14.27%
FCF CAGR (5Y)	-16.59%	N/A
Total return CAGR (5Y)	4.27%	14.61%

Frequently asked

Which has the lower trailing P/E, CMS or NI?: CMS has the lower trailing P/E: CMS trades at 19.87 and NI at 22.03. 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 5.09% CAGR versus NI at 8.18%.
Does CMS or NI pay a bigger dividend?: CMS yields 3.35% and NI yields 2.85% based on trailing dividends and the latest price.
Is CMS or NI more profitable?: NI runs the higher net margin — CMS at 11.64% versus NI at 13.15%.
How have CMS and NI total returns compared?: Over the past 10 years, CMS delivered 8.14% and NI delivered 9.30% annualized total return. 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 September 13, 2026.