CMSD NYSE
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 ▾
If the stock fell to about $0.64 (down 97%), CMS Energy Corporation 5.875% Junior Subordinated Notes due 2079 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.
Jackson, MI 49201
US
Operating primarily in Michigan, CMS Energy Corporation functions as an energy provider, structured into three principal divisions: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment manages the full spectrum of electricity services, from generating power using a varied portfolio including coal, wind, gas, renewable sources, oil, and nuclear, to its purchase, transmission, distribution, and ultimate sale. This division maintains a substantial infrastructure, featuring extensive overhead and underground distribution lines, numerous substations, and several battery facilities. Meanwhile, the Gas Utility segment focuses on the acquisition, transport, storage, distribution, and sale of natural gas, supported by a broad network of transmission lines, multiple gas storage fields, and compressor stations. The Enterprises segment is dedicated to independent power production and marketing, with a notable emphasis on the development and operation of renewable energy projects. Overall, CMS Energy caters to a significant clientele, providing electricity to 1.9 million customers and natural gas to 1.8 million, encompassing residential, commercial, and various industrial sectors. The company was founded in 1987 and is headquartered in Jackson, Michigan.
Recent Insider Trades
| Name | Type | Shares | Price | Date |
|---|---|---|---|---|
| Rochow Garrick J | D-Return | 9,338 | — | 2024-01-20 |
| Rochow Garrick J | F-InKind | 18,914 | $56.44 | 2024-01-20 |
| McIntosh Scott B | D-Return | 449 | — | 2024-01-20 |
| McIntosh Scott B | F-InKind | 706 | $56.44 | 2024-01-20 |
| Venkat Dhenuvakonda | D-Return | 554 | — | 2024-01-20 |