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CMS ENERGY CORP

Electric & Other Services Combined·JACKSON, MI·FY end 12/31·CIK 811156
OverviewFinancialsCompensationGovernanceInsidersFilings

Financials

5-year history · USD
MetricFY 2025FY 2024FY 2023FY 2022FY 2021Trend
Revenue$8.5B$7.5B$7.5B$8.6B$2.0B
Gross Profit——————
Operating Income$1.7B$1.5B$1.2B$1.2B$204.0M
Net Income$1.1B$1.0B$887.0M$837.0M$639.0M
Operating CF$2.2B$2.4B$2.3B$855.0M$1.8B
Capex———$2.4B$2.1B
Free Cash Flow———-$1.5B-$257.0M
Buybacks——————
Dividends——————
Gross Margin——————
Operating Margin20.2%19.8%16.6%14.2%10.0%
Net Margin12.5%13.3%11.9%9.7%31.4%
FCF Margin———-17.7%-12.6%
R&D / Revenue——————
Effective Tax19.7%15.7%15.4%10.3%11.5%
Debt / Equity1.951.851.921.871.82
Buybacks / FCF——————

Peer comparison

Electric & Other Services Combined · 5 peers
CEO Pay Ratio
CMS
1:1
ED
96:1
XEL
108:1
AEE
112:1
PEG
79:1
DUK
106:1
CEO total comp
CMS
$11M
ED
$20M
XEL
$16M
AEE
$14M
PEG
$14M
DUK
$14M
Net Margin
CMS
12.5%
ED
12.0%
XEL
—
AEE
—
PEG
17.3%
DUK
—