Basis: Latest reported fiscal year. Source: stored company filings and market data; unavailable inputs remain N/A.
The forward PE ratio is 19.20 as of Wednesday, July 29, 2026.
Forward PE Ratio (19.20) = Close Price ($74.24) / Consensus Forward EPS ($3.87)
FORWARD PE RATIO
19.20
SECTOR MEDIAN · UTILITIES
19.07
median of 36 covered companies
CURRENT VS SECTOR MEDIAN
+0.68%
vs the sector median at left
CMS Energy Corporation
Market Cap
$22.93B
Forward PE Ratio
19.20
| NAME | MARKET CAP | FORWARD PE RATIO |
|---|---|---|
| CMS Energy Corporation (CMS) | $22.93B | 19.20 |
| NiSource Inc (NI)vs › | $21.58B | 22.22 |
| NRG Energy, Inc. (NRG)vs › | $26.43B | N/A |
| Evergy, Inc. (EVRG)vs › | $19.37B | 20.13 |
| American Water Works Company, Inc. (AWK)vs › | $26.92B | 22.71 |
| PPL Corporation (PPL)vs › | $27.13B | 18.63 |
| Alliant Energy Corporation (LNT)vs › | $18.68B | 21.58 |
| Eversource Energy (ES)vs › | $28.08B | 16.19 |
| CenterPoint Energy, Inc. (CNP)vs › | $28.36B | 23.07 |
| FirstEnergy Corp. (FE)vs › | $28.62B | 18.16 |
Trailing P/E
20.4
reported TTM EPS
Forward P/E
19.2
consensus next-FY EPS
The gap between the two multiples is the consensus growth expectation: analysts' forward EPS of $3.87 implies +6.0% EPS growth vs the reported trailing $3.65.
At today's $74.24 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 | 19.2x |
| 2027-12-31 | $4.17 | $4.15 – $4.20 | 11 | 17.8x |
| 2028-12-31 | $4.50 | $4.44 – $4.54 | 6 | 16.5x |
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
