CMS ENERGY CORPORATION (CMSD)

21.18 +0.00% (+0.00)

Over 3Y: +7.8%

2026-08-28
Style
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18 20 22
2023 2024 2025 2026

Financials Quarterly

Figures
Revenue Gross Profit Operating Income Cost of Revenue Operating Cash Flow Free Cash Flow Net Income

A share count and earnings a share are not here: neither is money, so neither can share this axis. Both have their own panel on All charts.

All charts ›
Q3 '21 — Revenue: 1.7B Q3 '21 — Operating Cash Flow: 116M Q3 '21 — Free Cash Flow: -448M Q3 '21 — Net Income: 189M Q4 '21 — Revenue: 2B Q4 '21 — Operating Cash Flow: 336M Q4 '21 — Free Cash Flow: -298M Q4 '21 — Net Income: 639M Q1 '22 — Revenue: 2.4B Q1 '22 — Operating Cash Flow: 707M Q1 '22 — Free Cash Flow: 187M Q1 '22 — Net Income: 353M Q2 '22 — Revenue: 1.9B Q2 '22 — Operating Cash Flow: 352M Q2 '22 — Free Cash Flow: -216M Q2 '22 — Net Income: 148M Q3 '22 — Revenue: 2B Q3 '22 — Operating Cash Flow: -392M Q3 '22 — Free Cash Flow: -1B Q3 '22 — Net Income: 165M Q4 '22 — Revenue: 2.3B Q4 '22 — Operating Cash Flow: 188M Q4 '22 — Free Cash Flow: -448M Q4 '22 — Net Income: 171M Q1 '23 — Revenue: 2.3B Q1 '23 — Operating Cash Flow: 1B Q1 '23 — Free Cash Flow: 423M Q1 '23 — Net Income: 204M Q2 '23 — Revenue: 1.6B Q2 '23 — Operating Cash Flow: 665M Q2 '23 — Net Income: 198M Q3 '23 — Revenue: 1.7B Q3 '23 — Operating Cash Flow: 199M Q3 '23 — Net Income: 176M Q4 '23 — Revenue: 1.9B Q4 '23 — Operating Cash Flow: 405M Q4 '23 — Net Income: 309M Q1 '24 — Revenue: 2.2B Q1 '24 — Operating Cash Flow: 956M Q1 '24 — Free Cash Flow: 343M Q1 '24 — Net Income: 287M Q2 '24 — Revenue: 1.6B Q2 '24 — Operating Cash Flow: 707M Q2 '24 — Free Cash Flow: 26M Q2 '24 — Net Income: 198M Q3 '24 — Revenue: 1.7B Q3 '24 — Operating Cash Flow: 304M Q3 '24 — Free Cash Flow: -502M Q3 '24 — Net Income: 253M Q4 '24 — Revenue: 2B Q4 '24 — Operating Cash Flow: 403M Q4 '24 — Net Income: 265M Q1 '25 — Revenue: 2.4B Q1 '25 — Operating Cash Flow: 1B Q1 '25 — Free Cash Flow: 112M Q1 '25 — Net Income: 304M Q2 '25 — Revenue: 1.8B Q2 '25 — Operating Cash Flow: 414M Q2 '25 — Free Cash Flow: -470M Q2 '25 — Net Income: 201M Q3 '25 — Revenue: 2B Q3 '25 — Operating Cash Flow: 343M Q3 '25 — Free Cash Flow: -635M Q3 '25 — Net Income: 277M Q4 '25 — Revenue: 2.2B Q4 '25 — Operating Cash Flow: 478M Q4 '25 — Net Income: 289M Q1 '26 — Revenue: 2.7B Q1 '26 — Operating Cash Flow: 705M Q1 '26 — Free Cash Flow: -334M Q1 '26 — Net Income: 340M Q2 '26 — Revenue: 1.8B Q2 '26 — Operating Cash Flow: 622M Q2 '26 — Free Cash Flow: -345M Q2 '26 — Net Income: 120M -800M 0 800M 1.6B 2.4B 3.2B
Q4 '21 Q3 '22 Q2 '23 Q1 '24 Q4 '24 Q3 '25 Q2 '26
Revenue Operating Cash Flow Free Cash Flow Net Income

Figures as at 2026-06-30, reported in USD. The newest fact in the filings is dated 2026-06-30, 61 days ago. Nothing on this page is advice.

How it scores

Five questions, each answered by the measures under it. Every figure is the company's own; the bar beside it is where that figure sits among the companies read here — the top fifth, the bottom fifth, or somewhere between. Not among all listed companies, and for a valuation multiple the low end is the good end.

Quality

How much of the revenue is really kept — and what did it take to earn it?

5.4
OE margin 24.4%
Oper. margin 18.9%
ROIC 4.6%
Accruals -2.7%
FCF margin 24.4%
OCF margin 24.4%
OCF / EBIT 1.3×
ROA 2.5%
ROE 10.5%
ROCE 4.4%
Capex / sales —
Gross margin —

5 of 17 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Valuation

What does the price ask for what the company earns, owns and pays out?

0.5
Div. yield —
EV/EBIT —
EV/GP —
EV/OE —
EV/Sales —
FCF yield —
Fwd P/E —
P/B —
P/C —
P/E —
PEG —

0 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Durability

How predictable is the revenue, and how much of it is already committed?

3.2
Segment HHI 0.52 HHI
RPO / sales —
RPO growth —

2 of 7 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Resilience

Can the balance sheet absorb a bad year?

1.5
ND/EBITDA —
Current ratio 0.94×
Payout 1.4%
F-score 5.6 pts
Debt payback 8.9 yr
Quick ratio 0.94×
Cash / Debt 0.012×
Debt / Eq 2.0×
Cash runway —

3 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Growth

Is the business getting bigger, and is it getting more profitable?

3.7
Sales/sh Y/Y +8.9%
Div. growth +16.7%
Shares change +0.91%
EBIT CAGR +9.3%
EPS Y/Y -0.61%
EBIT Y/Y +4.2%
EPS CAGR 4Y -6.7%
Sales Q/Q -0.49%
EPS next Y —

4 of 13 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

A measure absent from a block could not be computed from this company's filings. It is left out rather than scored as though it were bad, and the dimension is averaged over what remains. A score is measured against a fixed scale this model states; the bar is measured against the other companies, so the two can disagree — and where they do, that disagreement is the more interesting figure.