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CMS ENERGY CORP

CMS

$71.06 ▼ -0.14 (-0.20%) at close

19 Visible periods

34 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Fair

Neutral

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Analytical Summary

CMS ENERGY CORP shows mixed fundamentals. Consider comparing against peers in the Utilities sector before making investment decisions.

Market Cap $21.3B

Dividend Yield 3.05%

Revenue Growth 13.6% ↗

Op. Margin 20.2% ↗

ROIC 5.1% ↘

FCF / Share None

Trailing P/E 20.1x

Price / Book 2.4x

FCF Yield —

Debt / Equity 1.95

info Valuation on last close. End-of-day price, Aug 7, 2026.

19-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$8.54B

↑ +13.6% —

Net Income Profit after all expenses

$1.07B

↑ +6.8% —

Operating Margin Operating profit as % of sales

20.2%

↑ +2.2% 75th

Long-Term Debt Long-term obligations

$17.81B

↑ +17.2% —

trending_up

Bullish Indicators

Operating Margin (%)Operating Margin (%) is in the top quartile

warning

Bearish Risks

Debt to EquityDebt to Equity is concerning (bottom quartile)

Health Breakdown

Profitability →

Returns ↓

Financial Health →

Dividend History

Dividend / share · sourced from SEC filings

$2.17 Latest / share

+5.3% YoY

+6.5% 12-yr CAGR

$1.08

FY 2014

$1.16

FY 2015

$1.24

FY 2016

$1.33

FY 2017

$1.43

FY 2018

$1.53

FY 2019

$1.63

FY 2020

$1.74

FY 2021

$1.84

FY 2022

$1.95

FY 2023

$2.06

FY 2024

$2.17

FY 2025

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📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Revenue Growth YoY (%)	13.6% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+354%)	0.7% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-76%)	-13.2% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-540%)	17.3% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+476%)	14.2% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+373%)	-6.2% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-308%)	-0.4% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-114%)	4.4% Caution ↑ Caution Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+47%)	2.9% Caution ↑ Caution Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: At sector avg	-0.9% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-129%)	-10.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-436%)	9.3% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+211%)	5.0% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+67%)	-3.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-228%)	1.1% Caution ↑ Caution Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-63%)	3.7% Caution Caution Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+22%)	-8.8% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-395%)	—	—
EPS Growth YoY (%)	5.7% Fair ↑ Fair Improving Year-over-year change in earnings per share Optimal: > 10%	11.0% Fair ↓ Fair Declining Year-over-year change in earnings per share Optimal: > 10%	5.6% Fair ↓ Fair Declining Year-over-year change in earnings per share Optimal: > 10%	-38.8% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	75.8% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	10.4% Fair ↑ Fair Improving Year-over-year change in earnings per share Optimal: > 10%	3.0% Caution ↓ Caution Declining Year-over-year change in earnings per share Optimal: > 10%	42.1% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-17.6% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	4.7% Caution ↓ Caution Declining Year-over-year change in earnings per share Optimal: > 10%	8.0% Fair ↑ Fair Improving Year-over-year change in earnings per share Optimal: > 10%	2.9% Caution ↓ Caution Declining Year-over-year change in earnings per share Optimal: > 10%	17.1% Good → Good Stable Year-over-year change in earnings per share Optimal: > 10%	-12.0% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	18.6% Good ↑ Good Improving Year-over-year change in earnings per share Optimal: > 10%	45.8% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	-23.2% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	6.8% Fair ↑ Fair Improving Year-over-year change in net income	13.1% Fair ↓ Fair Declining Year-over-year change in net income	6.0% Fair ↓ Fair Declining Year-over-year change in net income	-38.1% Weak ↓ Weak Declining Year-over-year change in net income	79.2% Excellent ↑ Excellent Improving Year-over-year change in net income	11.0% Fair ↑ Fair Improving Year-over-year change in net income	3.5% Caution ↓ Caution Declining Year-over-year change in net income	42.8% Excellent ↑ Excellent Improving Year-over-year change in net income	-16.5% Weak ↓ Weak Declining Year-over-year change in net income	5.4% Fair ↓ Fair Declining Year-over-year change in net income	9.6% Fair ↑ Fair Improving Year-over-year change in net income	5.1% Fair ↓ Fair Declining Year-over-year change in net income	18.8% Good ↓ Good Declining Year-over-year change in net income	-8.0% Weak ↓ Weak Declining Year-over-year change in net income	22.1% Good ↑ Good Improving Year-over-year change in net income	48.5% Excellent Excellent Year-over-year change in net income	-22.4% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Revenue CAGR 3Y (%)	-0.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	0.8% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	5.2% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	7.9% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	2.2% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	-0.8% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	2.3% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	2.1% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	-2.8% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-0.9% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	1.1% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	3.4% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	0.7% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	0.3% Weak Weak Compound annual revenue growth over 3 years	-1.5% Weak Weak Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	5.9% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	1.9% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	1.7% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	5.5% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	2.8% Caution ↑ Caution Improving Compound annual revenue growth over 5 years	-0.1% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-0.9% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	0.9% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	1.0% Caution ↑ Caution Improving Compound annual revenue growth over 5 years	-0.3% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	0.1% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	3.0% Caution Caution Compound annual revenue growth over 5 years	-0.7% Weak Weak Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	7.4% Fair ↑ Fair Improving Compound annual EPS growth over 3 years	-10.5% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	4.3% Caution ↓ Caution Declining Compound annual EPS growth over 3 years	5.9% Fair ↓ Fair Declining Compound annual EPS growth over 3 years	26.0% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	17.3% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	6.4% Fair ↑ Fair Improving Compound annual EPS growth over 3 years	7.0% Fair ↑ Fair Improving Compound annual EPS growth over 3 years	-2.3% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	5.2% Fair ↓ Fair Declining Compound annual EPS growth over 3 years	9.2% Fair ↑ Fair Improving Compound annual EPS growth over 3 years	2.0% Caution ↓ Caution Declining Compound annual EPS growth over 3 years	6.9% Fair ↓ Fair Declining Compound annual EPS growth over 3 years	15.0% Good Good Compound annual EPS growth over 3 years	9.9% Fair Fair Compound annual EPS growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Operating Margin (%) (%)	20.2% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	19.8% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	16.6% Fair → Fair Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-17%)	14.2% Fair ↓ Fair Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-29%)	15.6% Fair ↓ Fair Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-22%)	19.2% Good → Good Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	18.1% Good → Good Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-9%)	16.9% Fair ↓ Fair Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-15%)	20.3% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	19.6% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	18.0% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-10%)	16.0% Fair → Fair Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-20%)	17.4% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-13%)	16.0% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-20%)	15.4% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-23%)	15.2% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-24%)	11.2% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-44%)	11.7% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-42%)	—
Effective Tax Rate (%) (%)	19.7% Good ↑ Good Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	15.7% Good ↑ Good Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	15.4% Good ↑ Good Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	10.3% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	11.5% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	14.2% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	17.7% Good ↓ Good Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	14.9% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	47.9% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	33.1% Weak → Weak Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	34.0% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	34.3% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—
Profit Margin (%) (%)	12.5% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	13.3% Fair → Fair Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+11%)	11.9% Fair ↓ Fair Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	9.7% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-19%)	18.5% Good ↑ Good Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+54%)	11.8% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	9.9% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-17%)	9.6% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-20%)	7.0% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-42%)	8.6% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-28%)	8.1% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-32%)	6.6% Caution → Caution Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-45%)	6.9% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-42%)	6.1% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-49%)	6.4% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-47%)	5.3% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-56%)	3.7% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-69%)	4.3% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-64%)	—
FCF Margin (%) (%) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FCF / Net Income (x) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Return on Invested Capital (%)	5.1% Caution → Caution Stable Return earned on debt + equity capital invested Optimal: > 10%	5.4% Caution → Caution Stable Return earned on debt + equity capital invested Optimal: > 10%	4.7% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	5.5% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	5.4% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	6.1% Caution → Caution Stable Return earned on debt + equity capital invested Optimal: > 10%	6.0% Caution → Caution Stable Return earned on debt + equity capital invested Optimal: > 10%	6.4% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	5.1% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	6.5% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	6.2% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	6.5% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	8.1% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	7.6% Fair → Fair Stable Return earned on debt + equity capital invested Optimal: > 10%	7.8% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	7.8% Fair Fair Return earned on debt + equity capital invested Optimal: > 10%	6.5% Caution Caution Return earned on debt + equity capital invested Optimal: > 10%	—	—
Return on Capital (%) (%)	4.3% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	4.1% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	3.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	3.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	4.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	4.1% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	4.6% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	4.7% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	5.8% Caution → Caution Stable Operating profit relative to total assets Optimal: > 10%	5.8% Caution → Caution Stable Operating profit relative to total assets Optimal: > 10%	5.7% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	6.0% Caution → Caution Stable Operating profit relative to total assets Optimal: > 10%	6.6% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	5.9% Caution → Caution Stable Operating profit relative to total assets Optimal: > 10%	6.1% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	6.3% Caution Caution Operating profit relative to total assets Optimal: > 10%	4.6% Caution Caution Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	11.7% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+17%)	12.2% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+22%)	11.8% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+18%)	11.9% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+19%)	20.4% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+104%)	13.7% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+37%)	13.6% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+36%)	13.8% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+38%)	10.4% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	13.0% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+30%)	13.3% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+33%)	13.0% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+30%)	13.1% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+31%)	12.0% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+20%)	13.7% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+37%)	12.2% Fair Fair Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+22%)	8.8% Caution Caution Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-12%)	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Debt to Equity (x)	1.95x Weak → Weak Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+50%)	1.85x Weak → Weak Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+42%)	1.92x Weak → Weak Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+48%)	1.87x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+44%)	1.82x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+40%)	2.14x Weak → Weak Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+64%)	2.38x Weak ↑ Weak Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+83%)	2.23x Weak ↑ Weak Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+72%)	2.05x Weak → Weak Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+58%)	2.03x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+56%)	2.13x Weak → Weak Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+64%)	2.18x Weak → Weak Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+68%)	2.21x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+70%)	2.26x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+74%)	2.34x Weak → Weak Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+80%)	2.57x Weak Weak Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+98%)	2.27x Weak Weak Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+74%)	—	—
Interest Coverage (x)	2.16x Caution → Caution Stable Operating income divided by interest expense Optimal: > 5x	2.12x Caution → Caution Stable Operating income divided by interest expense Optimal: > 5x	1.92x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	2.36x Caution → Caution Stable Operating income divided by interest expense Optimal: > 5x	2.29x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	2.44x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	2.39x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	2.54x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	3.05x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	2.89x Caution → Caution Stable Operating income divided by interest expense Optimal: > 5x	2.94x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	2.83x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	2.87x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	2.58x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	2.42x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	2.27x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	1.60x Caution Caution Operating income divided by interest expense Optimal: > 5x	1.99x Caution Caution Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$17.30B	$15.09B	$14.28B	$12.96B	$11.59B	$11.71B	$11.81B	$10.46B	$8.94B	$8.40B	$8.13B	$7.81B	$7.47B	$7.14B	$6.91B	$6.93B	$5.80B	$-207.00M	$-344.00M
Debt / EBITDA (x)	5.87x Weak → Weak Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.57x Weak → Weak Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	6.01x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.58x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.33x Weak → Weak Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.17x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.36x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.07x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.11x Weak → Weak Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.18x Weak → Weak Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.39x Weak → Weak Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.36x Weak → Weak Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.32x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.52x Weak → Weak Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.57x Weak → Weak Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.62x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.65x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—

📊 What does each share earn? 8 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Revenue per Share (USD)	$28.43	$25.25	$25.62	$29.69	$25.36	$22.52	—	—	—	—	—	—	—	—	—	—	—	—	—
Basic EPS, GAAP (USD)	$3.53	$3.34	$3.01	$2.85	$4.66	$2.65	$2.40	$2.33	$1.64	$1.99	$1.90	$1.76	$1.71	$1.46	$1.66	$1.40	$0.96	$1.25	—
Free Cash Flow per Share (USD) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividend per Share (USD)	$2.17	$2.06	$1.95	$1.84	$1.74	$1.63	$1.53	$1.43	$1.33	$1.24	$1.16	$1.08	$1.02	$0.96	$0.84	$0.66	$0.50	$0.36	—
Book Value per Share (USD)	$29.84	$27.54	$25.62	$24.08	$22.88	$19.02	$17.68	$16.78	$15.77	$15.23	$14.21	$13.34	$12.98	$12.09	$11.92	$11.19	$11.42	—	—
Tangible Book Value per Share (USD)	$29.84	$27.54	$25.62	$24.08	$22.88	$19.02	$17.68	$16.78	$15.77	$15.23	$14.21	$13.34	$12.98	$12.09	$11.92	$11.19	$11.42	—	—
Basic Weighted Avg Shares (shares)	300.40M	297.60M	291.20M	289.50M	289.00M	285.00M	—	—	—	—	—	—	—	—	—	—	—	—	—
Dividend Payout Ratio (%)	61.5% Fair → Fair Stable Dividends paid as a percentage of earnings Optimal: 30-60%	61.7% Fair ↑ Fair Improving Dividends paid as a percentage of earnings Optimal: 30-60%	64.8% Fair ↑ Fair Improving Dividends paid as a percentage of earnings Optimal: 30-60%	64.6% Fair ↑ Fair Improving Dividends paid as a percentage of earnings Optimal: 30-60%	37.3% Good ↓ Good Declining Dividends paid as a percentage of earnings Optimal: 30-60%	61.5% Fair ↓ Fair Declining Dividends paid as a percentage of earnings Optimal: 30-60%	63.8% Fair ↓ Fair Declining Dividends paid as a percentage of earnings Optimal: 30-60%	61.4% Fair ↓ Fair Declining Dividends paid as a percentage of earnings Optimal: 30-60%	81.1% Caution ↑ Caution Improving Dividends paid as a percentage of earnings Optimal: 30-60%	62.3% Fair → Fair Stable Dividends paid as a percentage of earnings Optimal: 30-60%	61.1% Fair → Fair Stable Dividends paid as a percentage of earnings Optimal: 30-60%	61.4% Fair → Fair Stable Dividends paid as a percentage of earnings Optimal: 30-60%	59.6% Fair ↑ Fair Improving Dividends paid as a percentage of earnings Optimal: 30-60%	65.8% Fair ↑ Fair Improving Dividends paid as a percentage of earnings Optimal: 30-60%	50.6% Fair ↑ Fair Improving Dividends paid as a percentage of earnings Optimal: 30-60%	47.1% Good ↑ Good Improving Dividends paid as a percentage of earnings Optimal: 30-60%	52.1% Fair Fair Dividends paid as a percentage of earnings Optimal: 30-60%	28.8% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Working Capital (USD)	$-76.00M	$-731.00M	$-56.00M	$448.00M	$423.00M	$-670.00M	$-373.00M	$-156.00M	$-309.00M	$-375.00M	$18.00M	$649.00M	$581.00M	$625.00M	$227.00M	$738.00M	$788.00M	—	—
LT Debt (USD)	$17.81B	$15.19B	$14.51B	$13.12B	$12.05B	$11.74B	$11.95B	$10.62B	$9.12B	$8.64B	$8.40B	$8.02B	$7.64B	$7.23B	$7.07B	$7.17B	$5.89B	—	—
Total Equity (USD)	$9.14B	$8.23B	$7.54B	$7.01B	$6.63B	$5.50B	$5.02B	$4.75B	$4.44B	$4.25B	$3.94B	$3.67B	$3.45B	$3.19B	$3.03B	$2.79B	$2.60B	—	—

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Sales/Revenue/Turnover (USD)	$8.54B	$7.51B	$7.46B	$8.60B	$7.33B	$6.42B	$6.84B	$6.87B	$6.58B	$6.40B	$6.46B	$7.18B	$6.57B	$6.25B	$6.50B	$6.43B	$6.21B	$6.81B	—
Depreciation Expense (USD)	$1.31B	$1.24B	$1.18B	$1.13B	$1.11B	$1.04B	$992.00M	$933.00M	$881.00M	$811.00M	$750.00M	$685.00M	$628.00M	$598.00M	$546.00M	$576.00M	$570.00M	$589.00M	—
Net Income, GAAP (USD)	$1.07B	$1.00B	$887.00M	$837.00M	$1.35B	$755.00M	$680.00M	$657.00M	$460.00M	$551.00M	$523.00M	$477.00M	$454.00M	$382.00M	$415.00M	$340.00M	$229.00M	$295.00M	—
Operating Cash Flow (USD)	$2.23B	$2.37B	$2.31B	$855.00M	$1.82B	$1.28B	$1.79B	$1.70B	$1.71B	$1.63B	—	—	$1.42B	$1.24B	$1.17B	$959.00M	$848.00M	$557.00M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 19 years · 72 quarters

CMS ENERGY CORP

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