CMS Energy has been growing earnings at an average annual rate of 8.4%, while the Integrated Utilities industry saw earnings growing at 7.5% annually. Revenues have been growing at an average rate of 2.7% per year. CMS Energy's return on equity is 9.8%, and it has net margins of 12.4%.
Key information
8.37%
Earnings growth rate
7.32%
EPS growth rate
Integrated Utilities Industry Growth
5.10%
Revenue growth rate
2.69%
Return on equity
9.79%
Net Margin
12.43%
Last Earnings Update
31 Mar 2026
Recent past performance updates
Recent updates
Revenue & Expenses Breakdown
How CMS Energy makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
NYSE:CMS.PRC Revenue, expenses and earnings (USD Millions)
Date
Revenue
Earnings
G+A Expenses
R&D Expenses
31 Mar 26
8,822
1,097
-195
0
31 Dec 25
8,539
1,061
-186
0
30 Sep 25
8,295
1,037
-179
0
30 Jun 25
8,017
1,013
-173
0
31 Mar 25
7,786
1,010
-167
0
31 Dec 24
7,515
993
-169
0
30 Sep 24
7,476
1,037
-172
0
30 Jun 24
7,406
960
-175
0
31 Mar 24
7,354
959
-179
0
31 Dec 23
7,462
876
-180
0
30 Sep 23
7,790
738
-186
0
30 Jun 23
8,141
727
-195
0
31 Mar 23
8,506
678
-202
0
31 Dec 22
8,596
823
-205
0
30 Sep 22
8,351
772
-198
0
30 Jun 22
8,052
765
-184
0
31 Mar 22
7,690
778
-172
0
31 Dec 21
7,329
746
-165
0
30 Sep 21
7,023
763
-149
0
30 Jun 21
6,805
813
-138
0
31 Mar 21
6,629
783
-128
0
31 Dec 20
6,418
697
-118
0
30 Sep 20
6,486
730
-113
0
30 Jun 20
6,525
731
-106
0
31 Mar 20
6,588
696
-99
0
31 Dec 19
6,624
631
-91
0
30 Sep 19
6,879
621
-90
0
30 Jun 19
6,932
583
-90
0
31 Mar 19
6,979
629
-89
0
31 Dec 18
6,873
657
-90
0
30 Sep 18
6,822
546
-82
0
30 Jun 18
6,750
549
-63
0
31 Mar 18
6,707
502
-45
0
31 Dec 17
6,583
460
-24
0
30 Sep 17
6,445
540
-20
0
30 Jun 17
6,505
554
-28
0
31 Mar 17
6,427
586
-34
0
31 Dec 16
6,399
551
-41
0
30 Sep 16
6,268
580
-31
0
30 Jun 16
6,167
542
-20
0
31 Mar 16
6,146
485
-10
0
31 Dec 15
6,456
523
15
0
30 Sep 15
6,705
513
0
0
30 Jun 15
6,649
459
0
0
Quality Earnings: CMS.PRC has high quality earnings.
Growing Profit Margin: CMS.PRC's current net profit margins (12.4%) are lower than last year (13%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: CMS.PRC's earnings have grown by 8.4% per year over the past 5 years.
Accelerating Growth: CMS.PRC's earnings growth over the past year (8.6%) exceeds its 5-year average (8.4% per year).
Earnings vs Industry: CMS.PRC earnings growth over the past year (8.6%) did not outperform the Integrated Utilities industry 10.2%.
Return on Equity
High ROE: CMS.PRC's Return on Equity (9.8%) is considered low.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
Data
Last Updated (UTC time)
Company Analysis
2026/05/07 22:08
End of Day Share Price
2026/05/07 00:00
Earnings
2026/03/31
Annual Earnings
2025/12/31
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
CMS Energy Corporation is covered by 29 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.