CMS-PC NYSE
CMS Energy Corporation
1W: -2.0%
1M: -3.7%
3M: -4.6%
YTD: -11.0%
1Y: -17.4%
3Y: -3.9%
5Y: -19.3%
$15.74
-0.27 (-1.69%)
Pre-Market: $15.50 (-0.24, -1.56%)
Weekly Expected Move ±2.0%
$15
$16
$16
$16
$17
Credit Risk of going bust: lower than 84% of companies Debt: 37.8% of company value Bonds: none of note held by US funds details ▾
Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.37 (down 98%), CMS Energy Corporation would be worth roughly what it owes.
Total debt $13.15B against a stock market value of $21.65B.
Distance to default 10.82 (Merton model): prices to 2026-10-27, balance sheet 2026-09-30, debt counted $6.58B (short-term plus half of long-term), stock volatility 17.7%; Altman Z'' 36.95. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
If the stock fell to about $0.37 (down 98%), CMS Energy Corporation would be worth roughly what it owes.
Total debt $13.15B against a stock market value of $21.65B.
Distance to default 10.82 (Merton model): prices to 2026-10-27, balance sheet 2026-09-30, debt counted $6.58B (short-term plus half of long-term), stock volatility 17.7%; Altman Z'' 36.95. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
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Revenue by Segment (5-Year Trend)
Income Trends
Revenue
$8.5B
+13.6% ▲
5Y CAGR: +5.9%
Gross Profit
$5.2B
+62.1% ▲
5Y CAGR: +14.6%
Operating Income
$1.7B
+16.1% ▲
5Y CAGR: +7.0%
Net Income
$1.1B
+6.8% ▲
5Y CAGR: +7.2%
EPS (Diluted)
$3.53
+6.0% ▲
5Y CAGR: +6.0%
EBITDA
$3.2B
+3.8% ▲
5Y CAGR: +6.2%
Profit Margins
Year-over-Year Growth
View Full Income Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | $7.3B | $8.6B | $7.5B | $7.5B | $8.5B |
| YoY Growth | +14.2% | +17.3% | -13.2% | +0.7% | +13.6% |
| Cost of Revenue | $4.7B | $5.8B | $4.6B | $4.3B | $3.3B |
| Gross Profit | $2.6B | $2.8B | $2.9B | $3.2B | $5.2B |
| Gross Margin | 36.1% | 32.1% | 38.4% | 42.7% | 60.9% |
| R&D Expenses | $0 | $0 | $0 | $0 | $0 |
| SG&A Expenses | $0 | $0 | $0 | $0 | $3.5B |
| Operating Expenses | $1.5B | $1.5B | $1.6B | $1.7B | $3.5B |
| Operating Income | $1.1B | $1.2B | $1.2B | $1.5B | $1.7B |
| Operating Margin | 15.6% | 14.2% | 16.6% | 19.8% | 20.2% |
| Interest Expense | $500M | $519M | $643M | $708M | $789M |
| Income Before Tax | $823M | $902M | $954M | $1.1B | $1.2B |
| Tax Expense | $95M | $93M | $147M | $176M | $246M |
| Net Income | $1.4B | $837M | $887M | $1.0B | $1.1B |
| Net Margin | 18.5% | 9.7% | 11.9% | 13.3% | 12.5% |
| EPS (Diluted) | $4.66 | $2.85 | $3.01 | $3.33 | $3.53 |
| EBITDA | $2.4B | $2.5B | $2.8B | $3.1B | $3.2B |
| Shares Outstanding | 290M | 290M | 292M | 298M | 301M |