Top line accelerating.
+13.6% YoY versus +0.7% prior. 3y CAGR −0.2%.
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Utilities · Market Cap: $22.7B
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Fundamentals as of 2025-12-31
All analysis on this page is for educational purposes only and does not constitute financial advice. Fair values are model-based estimates. Always do your own research.
Concerns — CMS Energy Corporation's 11.7% ROE is below sector median.
Financial story
Concerns — CMS Energy Corporation's 11.7% ROE and 3.35 debt-to-equity warrant a closer look at the underlying business.
Bottom line: CMS is rated BUY by the 1 legendary model, but earns a D sector grade (43/100) in Utilities. Use the per-tab analysis to form your own view. Drill into the valuation breakdown and sector ranking for the full picture.
+13.6% YoY versus +0.7% prior. 3y CAGR −0.2%.
+13.6%Net margin 12.5% versus 13.3% prior (−0.8pp). Operating 20.2%.
12.5%P/E 19.7x — 5% below the 5y median of 20.8x. Forward 18.5x hints at EPS expansion next year.
19.7xThe Question
CMS's P/E ratio is 22.3x. 5-year P/E history is in the financials tab.
Investor verdicts vary by methodology. Full breakdown by investor and signal is in the valuation tab.
CMS's earnings calendar and history are tracked in the financials tab. Specific dates depend on company-published guidance.
CMS is in the Utilities sector. Sector ranking and peer comparison are in the sector tab.
0 of 6 legendary investor models rate CMS a BUY. Fair value estimates and full investor breakdown are in the valuation tab.
CMS Energy Corporation's fair value depends on which model you trust. See the per-investor fair-value table in the valuation tab.
How does CMS compare?
See exactly where CMS ranks
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Sign in to see the rankingCMS sits at #34 in Utilities with a D grade (43/100).