CMS Energy (CMS) Debt/Equity Ratio: History & Chart

CMS Energy Corporation(CMS)

Regulated Electric · Jackson, MI

$65.39-0.81 (-1.23%)

Delayed quote: Sep 18, 2026, 2:20 PM EDT

About CMS Energy Corporation

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and NorthStar Clean Energy. The Electric Utility segment is involved in the generation, purchase, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources. Its distribution system comprises 263 miles of high-voltage distribution overhead lines; 4 miles of high-voltage distribution underground lines; 4,619 miles of high-voltage distribution overhead lines; 18 miles of high-voltage distribution underground lines; 82,854 miles of electric distribution overhead lines; 10,027 miles of underground distribution lines; and 1,102 substations. The Gas Utility segment engages in the purchase, transmission, storage, distribution, and sale of natural gas, which includes 2,337 miles of transmission lines; 14 gas storage fields; 28,433 miles of distribution mains; and 8 compressor stations. The NorthStar Clean Energy segment is involved in the independent power production and marketing, including the development and operation of renewable generation. The company serves 1.9 million electric and 1.8 million gas customers, including residential, commercial, and diversified industrial customers. The company was incorporated in 1987 and is headquartered in Jackson, Michigan.

Jackson, MI

8,350 employees

www.cmsenergy.com

Utilities / Regulated Electric

Sector: Utilities
Industry: Regulated Electric
CEO: Garrick J. Rochow

View full financials

CMS Debt to Equity Ratio Metrics

DEBT TO EQUITY RATIO

1.97

DEBT TO EQUITY RATIO AVG TTM

2.05

DEBT TO EQUITY RATIO AVG 3Y

2.05

DEBT TO EQUITY RATIO AVG 5Y

2.04

DEBT TO EQUITY RATIO AVG 10Y

2.20

DEBT TO EQUITY RATIO AVG 15Y

2.25

DEBT TO EQUITY RATIO AVG 20Y

2.34

CURRENT VS TTM AVG

-3.63%

CURRENT VS 3Y AVG

-3.47%

CURRENT VS 5Y AVG

-3.23%

CURRENT VS 10Y AVG

-10.41%

CURRENT VS 15Y AVG

-12.13%

CURRENT VS 20Y AVG

-15.57%

SECTOR MEDIAN · UTILITIES

1.71

median of 40 covered companies

CURRENT VS SECTOR MEDIAN

+15.82%

vs the sector median at left

NAME	MARKET CAP	DEBT TO EQUITY RATIO	TTM	3Y	5Y
CMS Energy Corporation (CMS)	$20.50B	1.97	2.05	2.05	2.04
Edison International (EIX)vs ›	$21.31B	2.48	2.42	2.31	2.14
NiSource Inc (NI)vs ›	$19.46B	1.83	1.67	1.64	1.62
NRG Energy, Inc. (NRG)vs ›	$22.12B	4.83	7.21	5.09	4.67
Evergy, Inc. (EVRG)vs ›	$18.42B	1.61	1.46	1.39	1.32
Alliant Energy Corporation (LNT)vs ›	$16.99B	1.61	1.58	1.49	1.42
PPL Corporation (PPL)vs ›	$25.15B	1.32	1.25	1.16	1.11
CenterPoint Energy, Inc. (CNP)vs ›	$25.27B	2.14	2.04	1.93	1.84
Eversource Energy (ES)vs ›	$25.61B	1.82	1.91	1.80	1.64
FirstEnergy Corp. (FE)vs ›	$26.21B	2.24	2.06	2.16	2.46

NAME

MARKET CAP

DEBT TO EQUITY RATIO

TTM

CMS Energy Corporation (CMS)

$20.50B

1.97

2.05

2.04

Edison International (EIX)vs ›

$21.31B

2.48

2.42

2.31

2.14

NiSource Inc (NI)vs ›

$19.46B

1.83

1.67

1.64

1.62

NRG Energy, Inc. (NRG)vs ›

$22.12B

4.83

7.21

5.09

4.67

Evergy, Inc. (EVRG)vs ›

$18.42B

1.61

1.46

1.39

1.32

Alliant Energy Corporation (LNT)vs ›

$16.99B

1.61

1.58

1.49

1.42

PPL Corporation (PPL)vs ›

$25.15B

1.32

1.25

1.16

1.11

CenterPoint Energy, Inc. (CNP)vs ›

$25.27B

2.14

2.04

1.93

1.84

Eversource Energy (ES)vs ›

$25.61B

1.82

1.91

1.80

1.64

FirstEnergy Corp. (FE)vs ›

$26.21B

2.24

2.06

2.16

2.46

Debt to Equity Ratio FAQ

What is the debt to equity ratio for CMS Energy Corporation (CMS)?

The debt to equity ratio for CMS stock is 1.97.

Is CMS Energy Corporation's debt to equity ratio high or low?

The debt to equity ratio of 1.97 is in line with its 5-year average of 2.04, around the middle of its 5-year range (1.81–2.15).

What is the TTM average debt to equity ratio for CMS Energy Corporation (CMS)?

The TTM average debt to equity ratio for CMS stock is 2.05.

What is the 3Y average debt to equity ratio for CMS Energy Corporation (CMS)?

The 3Y average debt to equity ratio for CMS stock is 2.05.

What is the 5Y average debt to equity ratio for CMS Energy Corporation (CMS)?

The 5Y average debt to equity ratio for CMS stock is 2.04.

What is the 10Y average debt to equity ratio for CMS Energy Corporation (CMS)?

The 10Y average debt to equity ratio for CMS stock is 2.20.

What is the 15Y average debt to equity ratio for CMS Energy Corporation (CMS)?

The 15Y average debt to equity ratio for CMS stock is 2.25.

What is the 20Y average debt to equity ratio for CMS Energy Corporation (CMS)?

The 20Y average debt to equity ratio for CMS stock is 2.34.

DATE	DEBT TO EQUITY RATIO
2026-06-30	1.97
2026-03-31	2.02
2025-12-31	2.07
2025-09-30	2.04
2025-06-30	2.15
2025-03-31	2.04
2024-12-31	2.02
2024-09-30	1.99
2024-06-30	1.97
2024-03-31	1.99
2023-12-31	2.08
2023-09-30	2.15
2023-06-30	2.12
2023-03-31	2.05
2022-12-31	2.04
2022-09-30	1.99
2022-06-30	1.81
2022-03-31	1.82
2021-12-31	1.89
2021-09-30	2.08
2021-06-30	2.13
2021-03-31	2.64
2020-12-31	2.26
2020-09-30	2.84
2020-06-30	2.92
2020-03-31	2.77
2019-12-31	2.65
2019-09-30	2.67
2019-06-30	2.57
2019-03-31	2.50
2018-12-31	2.48
2018-09-30	2.36
2018-06-30	2.26
2018-03-31	2.26
2017-12-31	2.36
2017-09-30	2.28
2017-06-30	2.25
2017-03-31	2.30
2016-12-31	2.36
2016-09-30	2.33
2016-06-30	2.29
2016-03-31	2.25
2015-12-31	2.41
2015-09-30	2.26
2015-06-30	2.27
2015-03-31	2.32
2014-12-31	2.38
2014-09-30	2.41
2014-06-30	2.22
2014-03-31	2.30
2013-12-31	2.31
2013-09-30	2.29
2013-06-30	2.28
2013-03-31	2.30
2012-12-31	2.35
2012-09-30	2.31
2012-05-30	2.26
2012-03-31	2.36
2011-12-31	2.40
2011-09-30	2.41
2011-06-30	2.53
2011-03-31	2.56
2010-12-31	2.64
2010-09-30	2.56
2010-06-30	1.65
2010-03-31	2.42
2009-12-31	2.40
2009-09-30	2.59
2009-06-30	1.85
2009-03-31	2.49
2008-12-31	2.50
2008-09-30	2.52
2008-06-30	2.46
2008-03-31	2.77
2007-12-31	2.74
2007-09-30	2.69
2007-06-30	2.77
2007-03-31	2.91
2006-12-31	2.80
2006-09-30	2.93
2006-06-30	2.84
2006-03-31	2.93
2005-12-31	2.99
2005-09-30	2.89
2005-06-30	2.68
2005-03-31	3.10
2004-12-31	3.32
2004-09-30	4.44
2004-06-30	4.55
2004-03-31	4.61
2003-12-31	4.59
2003-09-30	4.87
2003-06-30	5.60
2003-03-31	5.30
2002-12-31	5.80
2002-09-30	3.73

DATE

DEBT TO EQUITY RATIO

2026-06-30

1.97

2026-03-31

2.02

2025-12-31

2.07

2025-09-30

2.04

2025-06-30

2.15

2025-03-31

2.04

2024-12-31

2.02

2024-09-30

1.99

2024-06-30

1.97

2024-03-31

1.99

2023-12-31

2.08

2023-09-30

2.15

2023-06-30

2.12

2023-03-31

2.05

2022-12-31

2.04

2022-09-30

1.99

2022-06-30

1.81

2022-03-31

1.82

2021-12-31

1.89

2021-09-30

2.08

2021-06-30

2.13

2021-03-31

2.64

2020-12-31

2.26

2020-09-30

2.84

2020-06-30

2.92

2020-03-31

2.77

2019-12-31

2.65

2019-09-30

2.67

2019-06-30

2.57

2019-03-31

2.50

2018-12-31

2.48

2018-09-30

2.36

2018-06-30

2.26

2018-03-31

2.26

2017-12-31

2.36

2017-09-30

2.28

2017-06-30

2.25

2017-03-31

2.30

2016-12-31

2.36

2016-09-30

2.33

2016-06-30

2.29

2016-03-31

2.25

2015-12-31

2.41

2015-09-30

2.26

2015-06-30

2.27

2015-03-31

2.32

2014-12-31

2.38

2014-09-30

2.41

2014-06-30

2.22

2014-03-31

2.30

2013-12-31

2.31

2013-09-30

2.29

2013-06-30

2.28

2013-03-31

2.30

2012-12-31

2.35

2012-09-30

2.31

2012-05-30

2.26

2012-03-31

2.36

2011-12-31

2.40

2011-09-30

2.41

2011-06-30

2.53

2011-03-31

2.56

2010-12-31

2.64

2010-09-30

2.56

2010-06-30

1.65

2010-03-31

2.42

2009-12-31

2.40

2009-09-30

2.59

2009-06-30

1.85

2009-03-31

2.49

2008-12-31

2.50

2008-09-30

2.52

2008-06-30

2.46

2008-03-31

2.77

2007-12-31

2.74

2007-09-30

2.69

2007-06-30

2.77

2007-03-31

2.91

2006-12-31

2.80

2006-09-30

2.93

2006-06-30

2.84

2006-03-31

2.93

2005-12-31

2.99

2005-09-30

2.89

2005-06-30

2.68

2005-03-31

3.10

2004-12-31

3.32

2004-09-30

4.44

2004-06-30

4.55

2004-03-31

4.61

2003-12-31

4.59

2003-09-30

4.87

2003-06-30

5.60

2003-03-31

5.30

2002-12-31

5.80

2002-09-30

3.73

Debt to Equity Ratio: 1.97

CMS Debt to Equity Ratio

CMS Average Debt to Equity Ratio Chart

CMS Current vs Average Debt to Equity Ratio Chart

CMS Debt to Equity Ratio Metrics

CMS Competitors' Debt to Equity Ratio

Financial Health

Debt to Equity Ratio Formula & Definition

Debt to Equity Ratio FAQ

CMS Debt to Equity Ratio History

Related Metrics