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CMS ENERGY CORP

CMS ENERGY CORPCMSDEarnings & Financial Report

NYSE

CMS Energy Corporation is an American energy company based in Jackson, Michigan, that is focused principally on utility operations in Michigan. Its principal business is Consumers Energy, a public utility that provides electricity and natural gas to more than 6 million of Michigan's 10 million residents. Its non-utility businesses are focused primarily on domestic independent power production. Consumers Energy has operated since 1886.

CMSD Q4 2025 Key Financial Metrics

Revenue

$2.1B

Gross Profit

N/A

Operating Profit

$435.0M

Net Profit

$289.0M

Gross Margin

N/A

Operating Margin

20.4%

Net Margin

13.5%

YoY Growth

13.0%

EPS

$0.94

Financial Flow

CMS ENERGY CORP Q4 2025 Financial Summary

CMS ENERGY CORP reported revenue of $2.1B for Q4 2025, with a net profit of $289.0M (13.5% margin). Cost of goods sold was N/A, operating expenses totaled N/A.

Key Financial Metrics

Total Revenue$2.1B
Net Profit$289.0M
Gross MarginN/A
Operating Margin20.4%
Report PeriodQ4 2025

CMS ENERGY CORP Annual Revenue by Year

CMS ENERGY CORP annual revenue history includes year-by-year totals (for example, 2025 revenue was $8.3B).

YearAnnual Revenue
2025$8.3B
2024$7.3B
2023$7.3B
2022$8.3B

Income Statement

Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025
Revenue$2.14B$1.58B$1.71B$1.89B$2.40B$1.80B$1.98B$2.13B
YoY Growth-4.6%4.1%4.4%1.6%11.8%14.1%15.4%13.0%

Balance Sheet

Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025
Assets$33.90B$34.35B$34.82B$35.92B$36.30B$37.70B$38.01B$39.94B
LiabilitiesN/AN/AN/AN/AN/AN/AN/AN/A
Equity$7.95B$8.00B$8.11B$8.23B$8.34B$8.39B$8.86B$9.14B

Cash Flow

Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025
Operating CF$956.0M$707.0M$304.0M$403.0M$1.00B$414.0M$343.0M$478.0M