CMS - NYSE

CMS Energy Corporation

CMS·NYSE

$70.38

+0.23%

UtilitiesRegulated Electric

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources. Its distribution system comprises 208 miles of high-voltage distribution overhead lines; 4 miles of high-voltage distribution underground lines; 4,428 miles of high-voltage distribution overhead lines; 19 miles of high-voltage distribution underground lines; 82,474 miles of electric distribution overhead lines; 9,395 miles of underground distribution lines; 1,093 substations; and 3 battery facilities. The Gas Utility segment engages in the purchase, transmission, storage, distribution, and sale of natural gas, which includes 2,392 miles of transmission lines; 15 gas storage fields; 28,065 miles of distribution mains; and 8 compressor stations. The Enterprises segment is involved in the independent power production and marketing, including the development and operation of renewable generation. It serves 1.9 million electric and 1.8 million gas customers, including residential, commercial, and diversified industrial customers. The company was incorporated in 1987 and is headquartered in Jackson, Michigan.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$21.74B

EPS3.5300

P/E Ratio19.94

Earnings Date07/30/2026

40.39B

Assets

12%

3Y+29.0%

5Y+36.0%

10Y+87.0%

30.68B

Total Liabilities

13%

3Y+29.0%

5Y+30.0%

10Y+77.0%

9.71B

Total Equity

11%

3Y+28.0%

5Y+60.0%

10Y+126.0%

CMS Energy Corporation Funding & Solvency Profile

CMS · NYSE

Current Assets

Cash & Cash Equivalents615.00M

Net Receivables1.32B

Inventory791.00M

Other Current Assets743.00M

Total Current Assets3 B

Non-Current Assets

Property, Plant & Equipment30.70B

Goodwill & Intangible Assets0.00

Long-Term Investments79.00M

Other Non-Current Assets5.69B

Total Non-Current Assets36 B

Total Assets

40.39B

Financial Health Analysis

Current Ratio

0.98x

Warning: Liquidity concerns. Current assets may not be sufficient to cover short-term obligations.

Debt-to-Equity Ratio

3.16x

High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.

Working Capital

-76000000

Negative working capital indicates short-term liabilities exceed short-term assets—potential liquidity stress.

Asset Composition

9% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

Financial Health Insight

Financial stress indicators: Both liquidity and leverage metrics raise concerns. The company may face challenges meeting obligations and should focus on strengthening its balance sheet.

CMS Energy Corporation Balance Sheet

CMS • NYSE

CMS Energy Corporation Balance Sheet	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009	Dec 2008	Dec 2007	Dec 2006
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents	615M	103M	227M	164M	452M	32M	140M	153M	182M	235M	266M	207M	172M	93M	161M	247M	90M	213M	382M	351M
Cash & Short-Term Investments	615M	103M	227M	164M	452M	32M	140M	153M	182M	235M	266M	207M	172M	93M	161M	247M	90M	213M	382M	351M
Net Receivables	1.3B	1.1B	944M	1.6B	943M	872M	1.1B	1.2B	1.2B	1B	913M	1B	986M	938M	928M	1.1B	1.1B	952M	952M	875M
Accounts Receivables	1.3B	1.1B	944M	1.6B	943M	872M	1.1B	1.2B	1.2B	1B	913M	1B	986M	938M	928M	1.1B	1B	946M	907M	875M
Other Receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	48M	7M	45M	0.0
Inventory	791M	769M	938M	1.1B	667M	576M	605M	650M	672M	626M	778M	918M	881M	1.1B	1.2B	229M	1.3B	1.4B	1.3B	1.4B
Prepaids	0.0	551M	506M	497M	495M	436M	391M	380M	340M	331M	312M	288M	288M	0.0	50M	37M	31M	37M	0.0	0.0
Other Current Assets	743M	304M	224M	75M	70M	488M	50M	58M	39M	75M	51M	168M	199M	307M	239M	224M	1.3B	226M	215M	444M
Total Current Assets	3.5B	2.8B	2.8B	3.4B	2.6B	2.4B	2.3B	2.5B	2.5B	2.3B	2.3B	2.6B	2.5B	2.4B	2.6B	2.8B	2.7B	2.8B	2.9B	3.1B
NON-CURRENT ASSETS
Property, Plant, and Equipment (Net)	30.7B	27.5B	25.1B	22.7B	22.4B	21B	19B	18.1B	16.8B	15.7B	14.7B	13.4B	12.2B	11.6B	10.6B	10.1B	9.7B	9.2B	8.7B	8B
Intangible Assets	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	928M	1.1B	1.1B	0.0	0.0	875M
Goodwill & Intangible Assets	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	2.9B	188M	269M	0.0	0.0	26M
Long-Term Investments	79M	69M	76M	71M	71M	70M	71M	69M	64M	65M	64M	61M	59M	57M	50M	49M	9M	0.0	0.0	0.0
Tax Assets	447M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	73M	209M	231M	277M	151M	0.0
Other Non-Current Assets	5.7B	5.6B	5.5B	5.1B	3.7B	6.1B	5.5B	3.9B	3.8B	3.6B	3.2B	3.1B	2.6B	-11.6B	276M	2.3B	2.3B	2.6B	2.4B	4.2B
Total Non-Current Assets	36.9B	33.1B	30.7B	27.9B	26.1B	27.3B	24.5B	22.1B	20.6B	19.3B	18B	16.6B	14.9B	14.7B	13.9B	12.9B	12.5B	12.1B	11.3B	12.2B
Total Assets	40.4B	35.9B	33.5B	31.4B	28.8B	29.7B	26.8B	24.5B	23.1B	21.6B	20.3B	19.2B	17.4B	17.1B	16.5B	15.6B	15.3B	14.9B	14.2B	15.4B
LIABILITIES
CURRENT LIABILITIES
Total Payables	1.4B	1.1B	809M	936M	886M	668M	635M	733M	740M	610M	642M	688M	595M	0.0	866M	803M	792M	805M	431M	566M
Accounts Payable	1.4B	1.1B	809M	936M	886M	668M	635M	733M	740M	610M	642M	688M	595M	521M	584M	492M	509M	516M	431M	566M
Other Payables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	282M	311M	283M	289M	0.0	0.0
Accrued Expenses	0.0	810M	754M	660M	622M	558M	541M	492M	463M	446M	455M	424M	393M	0.0	131M	121M	117M	114M	1.3B	1B
Short Term Debt	959M	1.3B	1.1B	1.1B	376M	587M	1.2B	1.1B	1.3B	1.3B	933M	579M	711M	0.0	1.1B	750M	734M	514M	723M	566M
Capital Lease Obligations (Current)	0.0	7M	9M	13M	9M	11M	28M	22M	22M	22M	22M	21M	21M	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Tax Payables	0.0	654M	612M	538M	515M	457M	437M	398M	360M	348M	349M	316M	297M	279M	282M	302M	283M	519M	533M	0.0
Deferred Revenue	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	422M	603M	443M	0.0	0.0	0.0
Other Current Liabilities	1.2B	355M	255M	266M	311M	1.3B	299M	306M	308M	315M	250M	236M	225M	1.3B	284M	347M	311M	430M	0.0	0.0
Total Current Liabilities	3.5B	3.5B	2.9B	3B	2.2B	3.1B	2.7B	2.6B	2.8B	2.7B	2.3B	1.9B	1.9B	1.8B	2.3B	2B	2B	1.9B	2.5B	2.2B
NON-CURRENT LIABILITIES
Long Term Debt	17.8B	15.2B	14.5B	13.1B	12B	11.7B	12B	10.6B	9.1B	8.6B	8.4B	8B	7.1B	6.7B	6B	6.4B	5.9B	3.9B	5.6B	6.4B
Deferred Revenue (Non-Current)	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	3.4B	1.4B	1.5B	0.0	0.0	0.0
Deferred Tax Liabilities (Non-Current)	3.8B	3B	2.7B	2.5B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	1.1B	487M	51M	100M	58M	182M
Other Non-Current Liabilities	5.3B	5.3B	5.2B	5B	7.2B	8.7B	7B	6.4B	6.6B	5.9B	5.5B	5.4B	4.7B	-6.7B	336M	2.3B	2.8B	532M	-5.8B	-6.6B
Total Non-Current Liabilities	27.1B	23.7B	22.5B	20.8B	19.4B	20.5B	19.1B	17.1B	15.8B	14.7B	14B	13.5B	12B	6.7B	11B	10.8B	10.4B	4.7B	4.4B	6.6B
Other Liabilities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	5.6B	4.9B	4B
Capital Lease Obligations	154M	140M	93M	108M	80M	92M	76M	69M	91M	110M	118M	123M	138M	153M	167M	188M	197M	206M	225M	42M
Total Liabilities	30.7B	27.2B	25.4B	23.8B	21.6B	23.6B	21.8B	19.7B	18.6B	17.3B	16.4B	15.5B	13.9B	13.9B	13.4B	12.8B	12.3B	12.1B	11.8B	12.8B
SHAREHOLDERS' EQUITY
Preferred Stock	224M	224M	224M	224M	224M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	44M	44M	0.0	243M	250M	261M
Common Stock	3M	3M	3M	3M	3M	3M	3M	3M	3M	3M	3M	3M	3M	3M	3M	2M	2M	2M	2M	2M
Additional Paid-In Capital	6.5B	6B	5.7B	5.5B	5.4B	5.4B	5.1B	5.1B	5B	4.9B	4.8B	4.8B	4.7B	4.7B	4.6B	4.6B	4.6B	4.5B	4.5B	4.5B
Retained Earnings	2.4B	2B	1.7B	1.4B	1.1B	214M	-25M	-271M	-531M	-616M	-855M	-1.1B	-1.2B	-1.4B	-1.6B	-1.8B	-1.9B	-2B	-2.2B	-1.9B
Accumulated Other Comprehensive Income/Loss	-36M	-41M	-46M	-52M	-59M	-86M	-73M	-65M	-50M	-50M	-47M	-49M	-22M	-55M	-49M	-40M	-33M	-28M	-144M	-318M
Total Stockholders' Equity	9.1B	8.2B	7.5B	7B	6.6B	5.5B	5B	4.8B	4.4B	4.3B	3.9B	3.7B	3.5B	3.2B	3B	2.8B	2.8B	2.7B	2.4B	2.5B
Total Equity	9.7B	8.7B	8.1B	7.6B	7.2B	6.1B	5.1B	4.8B	4.5B	4.3B	4B	3.7B	3.5B	3.2B	3.1B	2.8B	2.9B	2.8B	2.4B	2.6B
Minority Interest	567M	518M	581M	580M	557M	581M	37M	37M	37M	37M	37M	37M	37M	44M	44M	44M	97M	52M	53M	91M
SUMMARY
Total Liabilities & Equity	40.4B	35.9B	33.5B	31.4B	28.8B	29.7B	26.8B	24.5B	23.1B	21.6B	20.3B	19.2B	17.4B	17.1B	16.5B	15.6B	15.3B	14.9B	14.2B	15.4B
Total Investments	79M	69M	76M	71M	71M	70M	71M	69M	64M	65M	64M	61M	59M	57M	50M	49M	9M	0.0	0.0	0.0
Total Debt	18.9B	16.6B	15.7B	14.3B	12.5B	12.4B	13.3B	11.8B	10.5B	10B	9.5B	8.7B	8B	0.0	7.3B	7.4B	6.8B	6.8B	6.5B	7B
Net Debt	18.3B	16.5B	15.4B	14.2B	12.1B	12.4B	13.2B	11.6B	10.3B	9.8B	9.2B	8.5B	7.8B	0.0	7.1B	7.1B	6.7B	6.5B	6.1B	6.6B
Shares Outstanding	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618	298,574,618

SEC Filings

CMS - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
8-K 8-K 2026 N/A	June 03, 2026	June 01, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 13, 2026	May 13, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 13, 2026	May 08, 2026	2026	View Filing
10-Q 10-Q 2026 Q1 Q1	April 28, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	April 28, 2026	April 28, 2026	2026	View Filing
DEF 14A DEF 14A 2026 N/A	March 26, 2026	May 08, 2026	2026	View Filing
8-K 8-K 2026 N/A	February 20, 2026	February 20, 2026	2026	View Filing
8-K 8-K 2026 N/A	February 11, 2026	February 11, 2026	2026	View Filing
10-K 10-K 2025 FY FY	February 10, 2026	December 31, 2025	2025	View Filing
8-K 8-K 2026 N/A	February 05, 2026	February 05, 2026	2026	View Filing

Showing 1 to 10 of 11 filings

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