CMSA NYSE
CMS Energy Corporation 5.6% JRSUB NT 78
1W: -0.6%
1M: -2.2%
3M: -9.9%
YTD: -14.4%
1Y: -18.8%
3Y: -1.0%
5Y: -12.0%
$18.73
-0.00 (-0.00%)
After Hours: $18.42 (-0.31, -1.66%)
Weekly Expected Move ±2.0%
$18
$18
$19
$19
$20
Credit Risk of going bust: lower than 80% of companies Debt: 46.9% 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 $0.63 (down 97%), CMS Energy Corporation 5.6% JRSUB NT 78 would be worth roughly what it owes.
Total debt $19.30B against a stock market value of $21.82B.
Distance to default 9.63 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $9.96B (short-term plus half of long-term), stock volatility 17.6%; Altman Z'' 0.81. 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 $0.63 (down 97%), CMS Energy Corporation 5.6% JRSUB NT 78 would be worth roughly what it owes.
Total debt $19.30B against a stock market value of $21.82B.
Distance to default 9.63 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $9.96B (short-term plus half of long-term), stock volatility 17.6%; Altman Z'' 0.81. 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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Total Assets
$40.4B
+12.4% ▲
5Y CAGR: +6.4%
Total Liabilities
$30.7B
+12.9% ▲
5Y CAGR: +5.4%
Shareholders Equity
$9.1B
+11.1% ▲
5Y CAGR: +10.7%
Cash & Investments
$615M
+497.1% ▲
5Y CAGR: +80.6%
Total Debt
$18.9B
+14.2% ▲
5Y CAGR: +8.8%
Net Debt
$18.3B
+11.1% ▲
Assets vs Liabilities & Equity
Year-over-Year Growth
View Full Balance Sheet
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Assets — | |||||
| Cash | $452M | $164M | $227M | $103M | $615M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 |
| Cash & ST Investments | $452M | $164M | $227M | $103M | $615M |
| Net Receivables | $943M | $1.6B | $944M | $1.1B | $1.3B |
| Inventory | $667M | $1.1B | $938M | $769M | $791M |
| Other Current Assets | $70M | $75M | $224M | $304M | $743M |
| Total Current Assets | $2.6B | $3.4B | $2.8B | $2.8B | $3.5B |
| Property, Plant & Equip. | $22.4B | $22.7B | $25.1B | $27.5B | $30.7B |
| Goodwill & Intangibles | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $71M | $71M | $76M | $69M | $79M |
| Other Non-Current Assets | $3.7B | $5.1B | $5.5B | $5.6B | $5.7B |
| Total Non-Current Assets | $26.1B | $27.9B | $30.7B | $33.1B | $36.9B |
| Total Assets | $28.8B | $31.4B | $33.5B | $35.9B | $40.4B |
| — Liabilities — | |||||
| Accounts Payable | $886M | $936M | $809M | $1.1B | $1.4B |
| Short-Term Debt | $376M | $1.1B | $1.1B | $1.3B | $959M |
| Deferred Revenue | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $311M | $266M | $255M | $355M | $1.2B |
| Total Current Liabilities | $2.2B | $3.0B | $2.9B | $3.5B | $3.5B |
| Long-Term Debt | $12.0B | $13.1B | $14.5B | $15.2B | $17.8B |
| Other Non-Current Liab. | $7.2B | $5.0B | $5.2B | $5.3B | $5.3B |
| Total Non-Current Liabilities | $19.4B | $20.8B | $22.5B | $23.7B | $27.1B |
| Total Liabilities | $21.6B | $23.8B | $25.4B | $27.2B | $30.7B |
| — Equity — | |||||
| Common Stock | $3M | $3M | $3M | $3M | $3M |
| Retained Earnings | $1.1B | $1.4B | $1.7B | $2.0B | $2.4B |
| Accumulated OCI | -$59M | -$52M | -$46M | -$41M | -$36M |
| Total Stockholders Equity | $6.6B | $7.0B | $7.5B | $8.2B | $9.1B |
| Total Liabilities & Equity | $28.8B | $31.4B | $33.5B | $35.9B | $40.4B |
| — Key Metrics — | |||||
| Total Debt | $12.5B | $14.3B | $15.7B | $16.6B | $18.9B |
| Net Debt | $12.1B | $14.2B | $15.4B | $16.5B | $18.3B |
| Total Investments | $71M | $71M | $76M | $69M | $79M |