Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
The forward PE ratio is 17.63.
Forward PE Ratio (17.63) = Close Price ($68.27) / Consensus Forward EPS ($3.87)
FORWARD PE RATIO
17.63
SECTOR MEDIAN · UTILITIES
17.63
median of 38 covered companies
CURRENT VS SECTOR MEDIAN
-0.03%
vs the sector median at left
CMS Energy Corporation
Market Cap
$21.41B
Forward PE Ratio
17.63
| NAME | MARKET CAP | FORWARD PE RATIO |
|---|---|---|
| CMS Energy Corporation (CMS) | $21.41B | 17.63 |
| NiSource Inc (NI)vs › | $19.48B | 19.76 |
| NRG Energy, Inc. (NRG)vs › | $23.86B | 12.67 |
| Evergy, Inc. (EVRG)vs › | $18.65B | 19.01 |
| Alliant Energy Corporation (LNT)vs › | $17.53B | 19.83 |
| CenterPoint Energy, Inc. (CNP)vs › | $25.54B | 20.27 |
| PPL Corporation (PPL)vs › | $25.87B | 17.64 |
| Eversource Energy (ES)vs › | $26.40B | 15.10 |
| FirstEnergy Corp. (FE)vs › | $26.60B | 16.83 |
| American Water Works Company, Inc. (AWK)vs › | $26.91B | 22.26 |
Trailing P/E
20.2
reported TTM EPS
Forward P/E
17.6
consensus next-FY EPS
The gap between the two multiples is the consensus growth expectation: analysts' forward EPS of $3.87 implies +14.5% EPS growth vs the reported trailing $3.38.
At today's $68.27 close, each upcoming fiscal year's consensus EPS implies a different multiple — how quickly the price is "paid down" by expected earnings if the estimates hold.
| Fiscal year end | Consensus EPS | Estimate range | Analysts | Implied P/E |
|---|---|---|---|---|
| 2026-12-31 | $3.87 | $3.84 – $3.89 | 9 | 17.6x |
| 2027-12-31 | $4.16 | $4.13 – $4.19 | 10 | 16.4x |
| 2028-12-31 | $4.49 | $4.45 – $4.52 | 4 | 15.2x |
Source: FMP analyst consensus estimates, refreshed with the daily precompute. "n/m" = the consensus EPS is not positive, so a multiple is undefined. There is no forward P/E history chart here because charting one would require the estimates as they stood in the past, which we do not store — see the trailing P/E history for how the realized multiple has moved.
PE Ratio = Share Price / Diluted EPS (TTM)
The price-to-earnings ratio measures how much investors pay for each dollar of trailing earnings. A lower PE can indicate a cheaper valuation; a higher PE implies higher growth expectations.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
