CMS ENERGY CORP
Company Stats
- Market Cap
- $19.8B
- as of Sep 30, 2026
- Enterprise Value
- $38.2B
- Shares Outstanding
- 313.6M
- Free Float
- 95.6%
Income Statement
- Revenue
- $8.5B
- Operating Income
- $1.7B
- Net Income
- $1.1B
- EBITDA
- $3.0B
- Revenue Growth, 3Y
- -0.2%
- FCF Margin, 3Y Avg
- 23.5%
- FCF Margin, Worst Year
- 18.4%
Cash Flow
- Free Cash Flow
- $1.6B
- FCF Yield
- 8.0%
Balance Sheet
- Cash & Equivalents
- $509.0M
- Total Debt
- $18.9B
- Net Debt
- $18.4B
- Net Debt / EBITDA
- 6.08x
- EV / EBITDA
- 12.60x
- Net Debt / EBIT
- 10.67x
Cash Flow by Year
| Year | Revenue | FCF | Margin |
|---|---|---|---|
| FY2025 | $8.5B | $1.6B | 18.4% |
| FY2024 | $7.5B | $1.9B | 24.7% |
| FY2023 | $7.5B | $2.0B | 27.4% |
| FY2022 | $8.6B | -$1.5B | -17.7% |
| FY2021 | $7.3B | -$257.0M | -3.5% |
Annual filing data through FY ended December 31, 2025; shares and float as of October 22, 2026. Yields and enterprise value use the calculated market cap above, at its as-of date. Ratios are our calculations from reported figures.
Stronger demand supports expansion as pricing diverges
Chipmakers Lead a Guidance Season Almost Free of Cuts
Five Below, Medtronic Lead June 3 Earnings Wave