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About the company

CMS Energy Corporation is an energy company operating primarily in Michigan. It manages its businesses by the nature of services each provides and operates principally in three business segments: Electric Utility, Gas Utility and NorthStar Clean Energy. The Electric Utility segment consists of regulated activities associated with the generation, purchase, distribution, and sale of electricity in Michigan. The Gas Utility segment consists of regulated activities associated with the purchase, transmission, storage, distribution, and sale of natural gas in Michigan. The NorthStar Clean Energy segment consists of various subsidiaries engaging in domestic independent power production, including the development and operation of renewable generation, and the marketing of independent power production. Its gas transmission, storage, and distribution system consists of 2,342 miles of transmission lines with 15 gas storage fields with a total storage capacity of 309 billion cubic feet (Bcf).

  • Revenue in USD (TTM)8.54bn
  • Net income in USD1.06bn
  • Incorporated1987
  • Employees8.32k
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Peer analysis

Key Information
CompanyRevenue (TTM)Net income (TTM)Market capEmployeesPrice/earnings (TTM)Price/book value (MRQ)Price/cash flow (TTM)Price/sales (TTM)EPS (excl. extraordinary items, TTM)EPS (incl. extraordinary items, TTM)Revenue per share (TTM)Book value per share (MRQ)Asset turnover (TTM)Inventory turnover (TTM)Receivables turnover (TTM)Revenues per employee (TTM)Return on avg assets (TTM)Return on avg assets (5 yr avg)Return on investment (TTM)Return on investment (5 yr avg)Gross margin (TTM)Gross margin
(5 yr avg)
Net profit margin (TTM)Net Profit margin
(5 yr avg)
Quick ratio (MRQ)Interest coverage (TTM)Total debt to capital (MRQ)Payout ratio
(5 yr avg)
Revenue
(YOY change %)
Revenue
(5 yr growth rate)
Net income
(YOY change %)
Net income
(5 yr growth rate)
Capital expenditure
(5 yr growth rate)
Dividend
(5 yr growth rate)
Talen Energy Corp2.30bn226.00m16.16bn1.89k80.8211.0037.407.034.384.3847.1632.150.35522.9927.871,213,833.003.28--3.53--63.64--9.22--1.722.780.6703---17.19--62.81------
Alliant Energy Corp4.28bn818.00m17.20bn3.00k21.052.3510.424.023.183.1816.6128.430.18027.568.721,425,951.003.453.473.813.8845.00--19.1317.500.69962.990.6264.32-1.141.76-1.854.376.526.22
Evergy Inc5.88bn849.50m17.76bn4.73k21.181.738.623.023.643.6425.2944.700.17932.907.261,242,613.002.612.672.942.99----14.5413.990.29672.440.587569.106.162.5819.445.4514.076.43
NiSource Inc6.33bn893.50m21.21bn7.69k23.482.3310.063.351.891.8913.4019.110.1947.229.70823,090.903.002.203.622.6549.38--15.4710.930.38863.010.583774.69-0.91370.927911.6517.617.746.09
CMS Energy Corp8.54bn1.06bn22.16bn8.32k20.732.4812.932.603.513.5228.3830.050.2251------2.632.492.912.7838.87--11.6910.38--2.190.660667.2513.635.8811.689.89--5.89
Edison International18.09bn2.95bn24.55bn13.48k8.351.584.001.367.647.6446.7944.580.206418.707.141,341,319.003.641.474.171.7245.35--17.627.000.76482.790.6643118.437.707.347.270.003.195.27
Eversource Energy13.15bn1.34bn25.37bn10.68k18.581.588.801.933.643.6435.6443.150.218610.988.171,231,136.002.251.672.511.89----10.287.720.6372.810.6483105.32-0.0476.91283.53-2.249.005.97
CenterPoint Energy Inc9.11bn1.04bn26.28bn8.87k25.412.3810.442.881.581.5813.9416.900.20736.6210.621,027,277.002.362.192.642.48----11.379.770.37732.290.66962.75-0.60952.7017.5320.6912.49-6.77
PPL Corp8.98bn1.09bn26.39bn6.65k24.261.8310.642.941.471.4712.1019.490.212710.128.541,349,617.002.591.492.821.73----12.168.350.6642.950.5685155.591.808.6019.733.814.57-8.97
FirstEnergy Corp14.47bn1.33bn27.05bn12.29k20.362.118.191.872.302.3025.0122.150.27148.749.231,176,916.002.932.163.362.4265.20--10.788.240.64482.810.659594.614.684.07-12.911.688.622.08
DTE Energy Co14.82bn1.38bn28.05bn9.50k20.232.318.781.896.686.6871.6058.540.29116.929.281,560,211.002.722.623.022.96----9.348.070.67642.500.67368.47-2.260.47060.50228.018.31-2.84
Data as of Feb 10 2026. Currency figures normalised to CMS Energy Corp's reporting currency: US Dollar USD

Institutional shareholders

42.54%Per cent of shares held by top holders
HolderShares% Held
The Vanguard Group, Inc.as of 31 Dec 202537.53m12.33%
BlackRock Fund Advisorsas of 30 Sep 202520.82m6.84%
SSgA Funds Management, Inc.as of 30 Sep 202517.79m5.85%
JPMorgan Investment Management, Inc.as of 30 Sep 202515.03m4.94%
Geode Capital Management LLCas of 30 Sep 20258.14m2.68%
Victory Capital Management, Inc. (Investment Management)as of 30 Sep 20257.48m2.46%
Massachusetts Financial Services Co.as of 31 Dec 20256.72m2.21%
T. Rowe Price Associates, Inc. (IM)as of 30 Sep 20255.64m1.85%
GQG Partners LLCas of 30 Sep 20255.42m1.78%
Columbia Management Investment Advisers LLCas of 30 Sep 20254.89m1.61%
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Data from 30 Sep 2025 - 31 Dec 2025Source: FactSet Research Systems Inc.
Data Provided by LSEG
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