CMS Energy Corporation (CMS) EBITDA Margin: 37.32%
Is CMS Energy Corporation’s EBITDA margin high or low?
CMS Energy Corporation's EBITDA margin of 37.32% is in line with its 5-year average of 35.83%, around the middle of its 5-year range (29.63%–40.86%).
As of Tuesday, June 16, 2026. 4.53% below its 12-month average of 39.09%.
CMS EBITDA Margin Chart
CMS Average EBITDA Margin Chart
CMS Current vs Average EBITDA Margin Chart
CMS EBITDA Margin Metrics
EBITDA MARGIN
37.32%
EBITDA MARGIN AVG TTM
39.09%
EBITDA MARGIN AVG 3Y
36.26%
EBITDA MARGIN AVG 5Y
35.83%
EBITDA MARGIN AVG 10Y
34.17%
EBITDA MARGIN AVG 15Y
31.44%
EBITDA MARGIN AVG 20Y
30.31%
CURRENT VS TTM AVG
-4.53%
CURRENT VS 3Y AVG
+2.93%
CURRENT VS 5Y AVG
+4.15%
CURRENT VS 10Y AVG
+9.22%
CURRENT VS 15Y AVG
+18.70%
CURRENT VS 20Y AVG
+23.12%
CMS Competitors' EBITDA Margin
| NAME | MARKET CAP | EBITDA MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| CMS Energy Corporation (CMS) | $22.75B | 37.32% | 39.09% | 36.26% | 35.83% |
| NiSource Inc. (NI)vs › | $22.76B | 45.51% | 46.30% | 42.43% | 38.20% |
| American Water Works Company, Inc. (AWK)vs › | $24.78B | 57.02% | 57.01% | 55.62% | 53.67% |
| Alliant Energy Corporation (LNT)vs › | $19.00B | 46.29% | 45.72% | 43.93% | 43.31% |
| FirstEnergy Corp. (FE)vs › | $27.38B | 28.19% | 29.33% | 29.90% | 31.59% |
| Talen Energy Corporation (TLN)vs › | $17.65B | 16.44% | 50.91% | 32.09% | 22.28% |
| CenterPoint Energy, Inc. (CNP)vs › | $28.18B | 39.33% | 39.86% | 37.76% | 35.53% |
| Atmos Energy Corporation (ATO)vs › | $28.31B | 50.70% | 50.52% | 44.31% | 43.74% |
| WEC Energy Group, Inc. (WEC)vs › | $37.13B | 41.30% | 43.42% | 40.41% | 39.71% |
| Clearway Energy, Inc. (CWEN-A)vs › | $8.31B | 76.77% | 77.88% | 104.75% | 93.77% |
Margin Comparison
Gross Margin
64.6%
EBITDA Margin
37.3%
Operating Margin
19.5%
Net Margin
12.6%
Formula: EBITDA Margin = (EBITDA / Revenue) × 100
Why EBITDA Margin matters:
- Removes effects of depreciation policies (D&A)
- Capital structure neutral (ignores interest)
- Tax neutral (ignores tax differences)
- Good proxy for operating cash generation
CMS Energy Corporation EBITDA Margin Formula & Definition
EBITDA Margin = EBITDA / Revenue
EBITDA margin measures operating profitability before interest, taxes, depreciation, and amortization as a percentage of revenue.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
CMS Energy Corporation EBITDA Margin FAQ
- What is the EBITDA margin for CMS Energy Corporation (CMS)?
- The EBITDA margin for CMS stock is 37.32%.
- Is CMS Energy Corporation's EBITDA margin high or low?
- CMS Energy Corporation's EBITDA margin of 37.32% is in line with its 5-year average of 35.83%, around the middle of its 5-year range (29.63%–40.86%).
- What is the TTM average EBITDA margin for CMS Energy Corporation (CMS)?
- The TTM average EBITDA margin for CMS stock is 39.09%.
- What is the 3Y average EBITDA margin for CMS Energy Corporation (CMS)?
- The 3Y average EBITDA margin for CMS stock is 36.26%.
- What is the 5Y average EBITDA margin for CMS Energy Corporation (CMS)?
- The 5Y average EBITDA margin for CMS stock is 35.83%.
- What is the 10Y average EBITDA margin for CMS Energy Corporation (CMS)?
- The 10Y average EBITDA margin for CMS stock is 34.17%.
- What is the 15Y average EBITDA margin for CMS Energy Corporation (CMS)?
- The 15Y average EBITDA margin for CMS stock is 31.44%.
- What is the 20Y average EBITDA margin for CMS Energy Corporation (CMS)?
- The 20Y average EBITDA margin for CMS stock is 30.31%.
CMS Energy Corporation EBITDA Margin History
| DATE | EBITDA MARGIN |
|---|---|
| 2025-12-31 | 37.32% |
| 2024-12-31 | 40.86% |
| 2023-12-31 | 37.22% |
| 2022-12-31 | 29.63% |
| 2021-12-31 | 33.25% |
| 2020-12-31 | 36.72% |
| 2019-12-31 | 33.41% |
| 2018-12-31 | 31.50% |
| 2017-12-31 | 33.50% |
| 2016-12-31 | 32.38% |
| 2015-12-31 | 30.08% |
| 2014-12-31 | 25.37% |
| 2013-12-31 | 27.14% |
| 2012-12-31 | 25.73% |
| 2011-12-31 | 24.10% |
| 2010-12-31 | 24.83% |
| 2009-12-31 | 21.60% |
| 2008-12-31 | 20.99% |
| 2007-12-31 | 7.07% |
| 2006-12-31 | 5.78% |
| 2005-12-31 | 0.41% |
| 2004-12-31 | 18.68% |
| 2003-12-31 | 16.20% |
| 2002-12-31 | 5.40% |
| 2001-12-31 | 6.28% |
| 2000-12-31 | 15.33% |
| 1999-12-31 | 25.08% |
| 1998-12-31 | 24.49% |
| 1997-12-31 | 25.66% |
| 1996-12-31 | 26.46% |
Related Metrics
About CMS Energy Corporation
CMS Energy Corporation (CMS) operates as a significant utility provider with its primary services concentrated in Michigan. The company's business is structured into three main divisions: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment encompasses the full spectrum of electricity operations, from generating power using a variety of sources—including coal, wind, natural gas, renewable energies, oil, and nuclear—to its subsequent purchase, transmission, distribution, and sale to customers. Its extensive electrical grid is supported by approximately 4,636 miles of high-voltage overhead distribution lines, 23 miles of high-voltage underground distribution lines, an additional 82,474 miles of electric overhead distribution lines, and 9,395 miles of underground distribution lines. This vast network also includes 1,093 substations and 3 battery storage facilities. The Gas Utility division is responsible for procuring, transmitting, storing, distributing, and selling natural gas. This segment's infrastructure features 2,392 miles of transmission pipelines, 15 natural gas storage fields, 28,065 miles of distribution mains, and 8 compressor stations. The Enterprises segment specializes in independent power generation and energy marketing, particularly focusing on the development and operation of renewable energy projects. CMS Energy serves a considerable customer base, providing electricity to 1.9 million clients and natural gas to 1.8 million clients, spanning residential, commercial, and diverse industrial sectors. The company was established in 1987 and its corporate headquarters are situated in Jackson, Michigan.
- Sector
- Utilities
- Industry
- Regulated Electric
- CEO
- Garrick J. Rochow