Is CMS or XEL cheaper?

On trailing earnings, CMS is cheaper: CMS trades at a 20.16 P/E and XEL at 22.63.

Which has grown faster, CMS or XEL?

Over the past five years, CMS grew revenue faster — CMS at a 5.66% CAGR versus XEL at 3.82%.

Does CMS or XEL pay a bigger dividend?

CMS yields 3.02% and XEL yields 2.19% based on trailing dividends and the latest price.

Is CMS or XEL more profitable?

XEL runs the higher net margin — CMS at 12.55% versus XEL at 14.14%.

Which has been the better investment, CMS or XEL?

Over the past 10-year, XEL delivered the higher annualized total return — CMS at 8.60% versus XEL at 9.68%. Past performance doesn't predict future results.

CMS Energy Corporation (CMS) vs Xcel Energy Inc. (XEL)

CMS leads on 10 of 14 compared metrics.

A side-by-side comparison of CMS Energy Corporation and Xcel Energy Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 14, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

CMS

CMS Energy Corporation

Total return — CMS vs XEL

growth of $100 · last 30y

CMS +151.5%XEL +243.5%XEL compounded faster

CMS XEL

CMS vs XEL: by the numbers

•XEL is the larger company ($49.45B vs $22.73B market cap).
•CMS trades at the lower earnings multiple (20.16 vs 22.63 P/E).
•XEL converts more revenue to profit (14.14% vs 12.55% net margin).
•CMS grew revenue faster over the past five years (5.66% vs 3.82% CAGR).
•CMS pays the higher dividend yield (3.02% vs 2.19%).

Which is better, CMS or XEL?

Metric tally: CMS 10 · XEL 4

It depends on what you're optimizing for:

ValueCMS(lower P/E)

GrowthCMS(faster 5Y revenue CAGR)

IncomeCMS(higher dividend yield)

QualityXEL(higher ROIC)

Valuation

Metric	CMS	XEL
P/E ratio	20.16●	22.63
Forward P/E	17.63	17.45
P/S ratio	2.51●	3.35
P/B ratio	2.34	2.08●
PEG ratio	3.45●	5.39
EV / EBITDA	12.67●	14.00

Profitability

Metric	CMS	XEL
Gross margin	64.61%●	18.91%
Operating margin	19.53%	19.85%
Net margin	12.55%	14.14%●
ROE	11.69%●	8.78%
ROIC	3.67%	3.77%●

Dividends

Metric	CMS	XEL
Dividend yield	3.02%●	2.19%
Payout ratio	63.03%	50.36%

Growth (annualized)

Metric	CMS	XEL
Revenue CAGR (5Y)	5.66%●	3.82%
EPS CAGR (5Y)	5.90%●	4.20%
FCF CAGR (5Y)	-16.59%	-15.80%●
Total return CAGR (5Y)	7.18%●	5.94%

Frequently asked

Which is better, CMS or XEL?: It depends on your goal. value: CMS (lower P/E); growth: CMS (faster 5Y revenue CAGR); income: CMS (higher dividend yield); quality: XEL (higher ROIC). Across all compared metrics, CMS leads 10 to 4.
Is CMS or XEL cheaper?: On trailing earnings, CMS is cheaper: CMS trades at a 20.16 P/E and XEL at 22.63.
Which has grown faster, CMS or XEL?: Over the past five years, CMS grew revenue faster — CMS at a 5.66% CAGR versus XEL at 3.82%.
Does CMS or XEL pay a bigger dividend?: CMS yields 3.02% and XEL yields 2.19% based on trailing dividends and the latest price.
Is CMS or XEL more profitable?: XEL runs the higher net margin — CMS at 12.55% versus XEL at 14.14%.
Which has been the better investment, CMS or XEL?: Over the past 10-year, XEL delivered the higher annualized total return — CMS at 8.60% versus XEL at 9.68%. Past performance doesn't predict future results.

Go deeper

Full CMS analysis Full XEL analysis Interactive comparison tool

Dig into the metrics

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

CMS Energy & Xcel Energy 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 14, 2026.