CMS Energy (CMS) Financials: History & Chart

CMS Energy Corporation (CMS)CMSCMS Energy Corporation

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

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Financials

SEC Filings

Quarterly Income Statement (USD)

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Quarterly Report	TTM	Quarter ended Mar 2026	Quarter ended Dec 2025	Quarter ended Sep 2025	Quarter ended Jun 2025	Quarter ended Mar 2025	Quarter ended Dec 2024	Quarter ended Sep 2024	Quarter ended Jun 2024
Revenue	8.82B	2.73B	2.23B	2.02B	1.84B	2.45B	1.99B	1.74B	1.61B
Cost of Goods Sold	3.12B	1.19B	-622.12M	1.43B	1.12B	1.40B	1.11B	1.00B	949.00M
Gross Profit	5.70B	1.54B	2.86B	588.00M	714.00M	1.04B	877.00M	739.00M	658.00M
Gross Profit Margin	64.6%	56.5%	127.9%	29.1%	38.8%	42.7%	44.1%	42.4%	40.9%
Total Operating Expenses	3.98B	1.05B	2.42B	107.00M	397.00M	550.00M	452.00M	372.00M	375.00M
Research & Development	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Selling, General & Administrative	3.91B	432.00M	3.47B	0.00	0.00	0.00	43.00M	0.00	-41.00M
Operating Income (EBIT)	1.72B	490.00M	435.00M	481.00M	317.00M	494.00M	425.00M	367.00M	283.00M
Operating Margin	19.5%	17.9%	19.5%	23.8%	17.2%	20.2%	21.4%	21.1%	17.6%
Income Before Tax (EBT)	1.25B	362.00M	295.00M	340.00M	255.00M	358.00M	306.00M	273.00M	223.00M
Interest Income	-1.00M	N/A	-1.00M	N/A	N/A	1.00M	N/A	N/A	N/A
Interest Expense	805.00M	203.00M	200.00M	203.00M	199.00M	187.00M	180.00M	178.00M	173.00M
Other Income/Expense	-471.00M	-128.00M	-140.00M	-141.00M	-62.00M	-136.00M	-119.00M	-94.00M	-60.00M
Net Income	1.11B	340.00M	289.00M	277.00M	201.00M	304.00M	265.00M	253.00M	198.00M
Income Tax Expense	268.00M	85.00M	53.00M	68.00M	62.00M	63.00M	51.00M	26.00M	41.00M
Net Profit Margin	12.5%	12.5%	12.9%	13.7%	10.9%	12.4%	13.3%	14.5%	12.3%
EBITDA	2.90B	902.00M	608.00M	769.00M	618.00M	882.00M	751.00M	640.00M	568.00M
EBITDA Margin	32.8%	33.0%	27.2%	38.1%	33.6%	36.0%	37.8%	36.7%	35.3%
Depreciation & Amortization	1.17B	412.00M	173.00M	288.00M	301.00M	388.00M	326.00M	273.00M	285.00M
EPS Basic	3.65	1.13	0.94	0.92	0.66	1.01	0.88	0.84	0.65
EPS Diluted	3.65	1.13	0.94	0.92	0.66	1.01	0.88	0.84	0.65
Shares Outstanding	300.57M	300.57M	300.57M	298.50M	298.50M	298.20M	298.78M	298.00M	297.90M
Diluted Shares Outstanding	300.57M	300.57M	300.57M	300.40M	299.10M	299.10M	298.78M	298.80M	298.50M

Annual Income Statement (USD)

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Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	8.54B	7.51B	7.46B	8.60B	7.33B	6.42B	6.62B	6.87B
Cost of Goods Sold	3.34B	4.31B	4.60B	5.83B	4.68B	3.79B	4.19B	4.47B
Gross Profit	5.20B	3.21B	2.86B	2.76B	2.65B	2.63B	2.44B	2.40B
Gross Profit Margin	60.9%	42.7%	38.4%	32.1%	36.1%	41.0%	36.8%	34.9%
Total Operating Expenses	3.47B	1.72B	1.63B	1.54B	1.50B	1.40B	1.32B	1.24B
Research & Development	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Selling, General & Administrative	3.47B	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Income (EBIT)	1.73B	1.49B	1.24B	1.22B	1.15B	1.23B	1.11B	1.16B
Operating Margin	20.2%	19.8%	16.6%	14.2%	15.6%	19.2%	16.8%	16.9%
Income Before Tax (EBT)	1.25B	1.12B	954.00M	902.00M	823.00M	809.00M	764.00M	774.00M
Interest Income	N/A	N/A	N/A	N/A	3.00M	11.00M	7.00M	11.00M
Interest Expense	789.00M	708.00M	643.00M	519.00M	500.00M	505.00M	460.00M	458.00M
Other Income/Expense	-479.00M	-364.00M	-281.00M	-322.00M	-323.00M	-421.00M	-351.00M	-388.00M
Net Income	1.07B	1.00B	887.00M	837.00M	1.35B	755.00M	680.00M	657.00M
Income Tax Expense	246.00M	176.00M	147.00M	93.00M	95.00M	115.00M	131.00M	115.00M
Net Profit Margin	12.5%	13.3%	11.9%	9.7%	18.5%	11.8%	10.3%	9.6%
EBITDA	2.88B	2.73B	2.42B	2.35B	2.26B	2.27B	2.10B	2.10B
EBITDA Margin	33.7%	36.3%	32.4%	27.3%	30.8%	35.4%	31.8%	30.5%
Depreciation & Amortization	1.15B	1.24B	1.18B	1.13B	1.11B	1.04B	989.00M	933.00M
EPS Basic	3.53	3.34	3.01	2.84	4.66	2.65	2.40	2.33
EPS Diluted	3.53	3.33	3.01	2.85	4.66	2.64	2.39	2.32
Shares Outstanding	300.57M	297.60M	291.20M	289.50M	289.00M	285.00M	283.00M	282.20M
Diluted Shares Outstanding	300.57M	298.30M	291.70M	290.00M	289.50M	286.30M	284.30M	282.90M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.