Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the EBITDA margin high or low?
The EBITDA margin of 33.04% is in line with its 5-year average of 32.21%, around the middle of its 5-year range (23.91%–38.15%).
As of the fiscal period ended Tuesday, March 31, 2026. 1.66% below its 12-month average of 33.60%.
Reported quarterly EBITDA margin; no daily interpolation.
EBITDA MARGIN
33.04%
EBITDA MARGIN AVG TTM
33.60%
EBITDA MARGIN AVG 3Y
34.16%
EBITDA MARGIN AVG 5Y
32.21%
EBITDA MARGIN AVG 10Y
32.60%
EBITDA MARGIN AVG 15Y
30.61%
EBITDA MARGIN AVG 20Y
28.78%
CURRENT VS TTM AVG
-1.66%
CURRENT VS 3Y AVG
-3.28%
CURRENT VS 5Y AVG
+2.57%
CURRENT VS 10Y AVG
+1.35%
CURRENT VS 15Y AVG
+7.93%
CURRENT VS 20Y AVG
+14.81%
CMS Energy Corporation
Market Cap
$22.72B
EBITDA Margin
33.04%
TTM Avg
33.60%
3Y Avg
34.16%
5Y Avg
32.21%
Market Cap
$27.10B
EBITDA Margin
53.95%
TTM Avg
53.73%
3Y Avg
52.57%
5Y Avg
50.99%
Market Cap
$18.34B
EBITDA Margin
42.89%
TTM Avg
42.27%
3Y Avg
40.69%
5Y Avg
40.34%
Market Cap
$27.87B
EBITDA Margin
38.90%
TTM Avg
39.28%
3Y Avg
36.38%
5Y Avg
34.61%
| NAME | MARKET CAP | EBITDA MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| CMS Energy Corporation (CMS) | $22.72B | 33.04% | 33.60% | 34.16% | 32.21% |
| NiSource Inc (NI)vs › | $21.52B | 45.21% | 45.50% | 41.67% | 38.30% |
| Evergy, Inc. (EVRG)vs › | $19.19B | 45.77% | 45.34% | 43.37% | 42.85% |
| PPL Corporation (PPL)vs › | $26.72B | 39.21% | 37.91% | 36.12% | 39.53% |
| American Water Works Company, Inc. (AWK)vs › | $27.10B | 53.95% | 53.73% | 52.57% | 50.99% |
| Alliant Energy Corporation (LNT)vs › | $18.34B | 42.89% | 42.27% | 40.69% | 40.34% |
| Eversource Energy (ES)vs › | $27.12B | 39.81% | 38.73% | 33.93% | 34.13% |
| CenterPoint Energy, Inc. (CNP)vs › | $27.87B | 38.90% | 39.28% | 36.38% | 34.61% |
| FirstEnergy Corp. (FE)vs › | $28.14B | 29.08% | 29.25% | 28.46% | 29.28% |
| NRG Energy, Inc. (NRG)vs › | $28.19B | 12.39% | 13.00% | 10.13% | 12.38% |
Gross Margin
64.6%
EBITDA Margin
33.0%
Operating Margin
19.5%
Net Margin
12.6%
Formula: EBITDA Margin = (EBITDA / Revenue) × 100
Why EBITDA Margin matters:
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
| DATE | EBITDA MARGIN |
|---|---|
| 2026-03-31 | 33.04% |
| 2025-12-31 | 27.23% |
| 2025-09-30 | 38.05% |
| 2025-06-30 | 33.62% |
| 2025-03-31 | 36.04% |
| 2024-12-31 | 37.76% |
| 2024-09-30 | 36.72% |
| 2024-06-30 | 35.35% |
| 2024-03-31 | 35.85% |
| 2023-12-31 | 36.72% |
| 2023-09-30 | 31.86% |
| 2023-06-30 | 32.67% |
| 2023-03-31 | 29.20% |
| 2022-12-31 | 24.89% |
| 2022-09-30 | 24.75% |
| 2022-06-30 | 25.52% |
| 2022-03-31 | 33.74% |
| 2021-12-31 | 23.91% |
| 2021-09-30 | 29.57% |
| 2021-06-30 | 31.84% |
| 2021-03-31 | 38.15% |
| 2020-12-31 | 35.21% |
| 2020-09-30 | 37.56% |
| 2020-06-30 | 33.94% |
| 2020-03-31 | 36.70% |
| 2019-12-31 | 31.98% |
| 2019-09-30 | 36.61% |
| 2019-06-30 | 30.03% |
| 2019-03-31 | 31.91% |
| 2018-12-31 | 27.01% |
| 2018-09-30 | 31.27% |
| 2018-06-30 | 30.76% |
| 2018-03-31 | 32.87% |
| 2017-12-31 | 34.20% |
| 2017-09-30 | 34.25% |
| 2017-06-30 | 30.23% |
| 2017-03-31 | 35.54% |
| 2016-12-31 | 30.73% |
| 2016-09-30 | 35.16% |
| 2016-06-30 | 32.90% |
| 2016-03-31 | 31.32% |
| 2015-12-31 | 28.56% |
| 2015-09-30 | 32.97% |
| 2015-06-30 | 27.63% |
| 2015-03-31 | 29.32% |
| 2014-12-31 | 25.88% |
| 2014-09-30 | 27.20% |
| 2014-06-30 | 26.29% |
| 2014-03-31 | 24.06% |
| 2013-12-31 | 24.71% |
| 2013-09-30 | 31.97% |
| 2013-06-30 | 26.24% |
| 2013-03-31 | 25.77% |
| 2012-12-31 | 22.16% |
| 2012-09-30 | 31.92% |
| 2012-05-30 | 29.26% |
| 2012-03-31 | 20.65% |
| 2011-12-31 | 19.51% |
| 2011-09-30 | 29.78% |
| 2011-06-30 | 24.12% |
| 2011-03-31 | 22.77% |
| 2010-12-31 | 17.72% |
| 2010-09-30 | 31.32% |
| 2010-06-30 | 29.33% |
| 2010-03-31 | 20.89% |
| 2009-12-31 | 16.22% |
| 2009-09-30 | 28.35% |
| 2009-06-30 | 22.12% |
| 2009-03-31 | 18.16% |
| 2008-12-31 | 16.38% |
| 2008-09-30 | 25.91% |
| 2008-06-30 | 20.81% |
| 2008-03-31 | 19.51% |
| 2007-12-31 | -8.00% |
| 2007-09-30 | 25.90% |
| 2007-06-30 | 10.77% |
| 2007-03-31 | 5.71% |
| 2006-12-31 | 0.57% |
| 2006-09-30 | 4.66% |
| 2006-06-30 | 16.41% |
| 2006-03-31 | 7.81% |
| 2005-12-31 | 4.34% |
| 2005-09-30 | -54.16% |
| 2005-06-30 | 15.53% |
| 2005-03-31 | 31.22% |
| 2004-12-31 | 18.12% |
| 2004-09-30 | 23.89% |
| 2004-06-30 | 19.67% |
| 2004-03-31 | 15.39% |
| 2003-12-31 | 8.53% |
| 2003-09-30 | 13.37% |
| 2003-06-30 | 19.18% |
| 2003-03-31 | 16.11% |
| 2002-12-31 | -10.52% |
| 2002-09-30 | 10.46% |
| 2002-06-30 | 10.77% |
