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Side-by-side financial comparison of ACUITY INC. (DE) (AYI) and CMS Energy (CMS). Click either name above to swap in a different company.
CMS Energy is the larger business by last-quarter revenue ($2.1B vs $1.1B, roughly 1.9× ACUITY INC. (DE)). CMS Energy runs the higher net margin — 13.5% vs 10.5%, a 3.0% gap on every dollar of revenue. On growth, ACUITY INC. (DE) posted the faster year-over-year revenue change (20.2% vs 13.0%). Over the past eight quarters, ACUITY INC. (DE)'s revenue compounded faster (12.4% CAGR vs -0.2%).
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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.
AYI vs CMS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $2.1B |
| Net Profit | $120.5M | $289.0M |
| Gross Margin | 48.4% | — |
| Operating Margin | 14.0% | 20.4% |
| Net Margin | 10.5% | 13.5% |
| Revenue YoY | 20.2% | 13.0% |
| Net Profit YoY | 12.9% | 9.1% |
| EPS (diluted) | $3.82 | $0.94 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.1B | $2.1B | ||
| Q3 25 | $1.2B | $2.0B | ||
| Q2 25 | $1.2B | $1.8B | ||
| Q1 25 | $1.0B | $2.4B | ||
| Q4 24 | $951.6M | $1.9B | ||
| Q3 24 | $1.0B | $1.7B | ||
| Q2 24 | $968.1M | $1.6B | ||
| Q1 24 | $905.9M | $2.1B |
| Q4 25 | $120.5M | $289.0M | ||
| Q3 25 | $114.0M | $277.0M | ||
| Q2 25 | $98.4M | $201.0M | ||
| Q1 25 | $77.5M | $304.0M | ||
| Q4 24 | $106.7M | $265.0M | ||
| Q3 24 | $118.9M | $253.0M | ||
| Q2 24 | $113.9M | $198.0M | ||
| Q1 24 | $89.2M | $287.0M |
| Q4 25 | 48.4% | — | ||
| Q3 25 | 48.9% | — | ||
| Q2 25 | 48.4% | — | ||
| Q1 25 | 46.5% | — | ||
| Q4 24 | 47.2% | — | ||
| Q3 24 | 47.3% | — | ||
| Q2 24 | 46.7% | — | ||
| Q1 24 | 45.5% | — |
| Q4 25 | 14.0% | 20.4% | ||
| Q3 25 | 14.9% | 24.4% | ||
| Q2 25 | 11.9% | 17.6% | ||
| Q1 25 | 11.0% | 20.6% | ||
| Q4 24 | 14.0% | 22.5% | ||
| Q3 24 | 15.2% | 21.4% | ||
| Q2 24 | 15.0% | 18.0% | ||
| Q1 24 | 13.0% | 19.2% |
| Q4 25 | 10.5% | 13.5% | ||
| Q3 25 | 9.4% | 14.0% | ||
| Q2 25 | 8.3% | 11.2% | ||
| Q1 25 | 7.7% | 12.7% | ||
| Q4 24 | 11.2% | 14.0% | ||
| Q3 24 | 11.5% | 14.8% | ||
| Q2 24 | 11.8% | 12.6% | ||
| Q1 24 | 9.8% | 13.4% |
| Q4 25 | $3.82 | $0.94 | ||
| Q3 25 | $3.61 | $0.92 | ||
| Q2 25 | $3.12 | $0.66 | ||
| Q1 25 | $2.45 | $1.01 | ||
| Q4 24 | $3.35 | $0.88 | ||
| Q3 24 | $3.77 | $0.84 | ||
| Q2 24 | $3.62 | $0.65 | ||
| Q1 24 | $2.84 | $0.96 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $376.1M | $509.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.8B | $9.1B |
| Total Assets | $4.7B | $39.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $376.1M | $509.0M | ||
| Q3 25 | $422.5M | $362.0M | ||
| Q2 25 | $371.8M | $844.0M | ||
| Q1 25 | $397.9M | $465.0M | ||
| Q4 24 | $935.6M | $103.0M | ||
| Q3 24 | $845.8M | $412.0M | ||
| Q2 24 | $699.0M | $699.0M | ||
| Q1 24 | $578.9M | $802.0M |
| Q4 25 | $2.8B | $9.1B | ||
| Q3 25 | $2.7B | $8.9B | ||
| Q2 25 | $2.6B | $8.4B | ||
| Q1 25 | $2.5B | $8.3B | ||
| Q4 24 | $2.5B | $8.2B | ||
| Q3 24 | $2.4B | $8.1B | ||
| Q2 24 | $2.3B | $8.0B | ||
| Q1 24 | $2.1B | $7.9B |
| Q4 25 | $4.7B | $39.9B | ||
| Q3 25 | $4.8B | $38.0B | ||
| Q2 25 | $4.6B | $37.7B | ||
| Q1 25 | $4.6B | $36.3B | ||
| Q4 24 | $3.9B | $35.9B | ||
| Q3 24 | $3.8B | $34.8B | ||
| Q2 24 | $3.6B | $34.4B | ||
| Q1 24 | $3.5B | $33.9B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $140.8M | $478.0M |
| Free Cash FlowOCF − Capex | $114.8M | — |
| FCF MarginFCF / Revenue | 10.0% | — |
| Capex IntensityCapex / Revenue | 2.3% | — |
| Cash ConversionOCF / Net Profit | 1.17× | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $534.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $140.8M | $478.0M | ||
| Q3 25 | $202.5M | $343.0M | ||
| Q2 25 | $207.3M | $414.0M | ||
| Q1 25 | $59.4M | $1.0B | ||
| Q4 24 | $132.2M | $403.0M | ||
| Q3 24 | $174.1M | $304.0M | ||
| Q2 24 | $152.5M | $707.0M | ||
| Q1 24 | $102.6M | $956.0M |
| Q4 25 | $114.8M | — | ||
| Q3 25 | $177.7M | $-635.0M | ||
| Q2 25 | $192.3M | $-470.0M | ||
| Q1 25 | $49.7M | $112.0M | ||
| Q4 24 | $113.3M | — | ||
| Q3 24 | $151.1M | $-502.0M | ||
| Q2 24 | $140.5M | $26.0M | ||
| Q1 24 | $88.2M | $343.0M |
| Q4 25 | 10.0% | — | ||
| Q3 25 | 14.7% | -32.2% | ||
| Q2 25 | 16.3% | -26.1% | ||
| Q1 25 | 4.9% | 4.7% | ||
| Q4 24 | 11.9% | — | ||
| Q3 24 | 14.6% | -29.3% | ||
| Q2 24 | 14.5% | 1.6% | ||
| Q1 24 | 9.7% | 16.0% |
| Q4 25 | 2.3% | — | ||
| Q3 25 | 2.1% | 49.5% | ||
| Q2 25 | 1.3% | 49.2% | ||
| Q1 25 | 1.0% | 37.0% | ||
| Q4 24 | 2.0% | — | ||
| Q3 24 | 2.2% | 47.1% | ||
| Q2 24 | 1.2% | 43.2% | ||
| Q1 24 | 1.6% | 28.6% |
| Q4 25 | 1.17× | 1.65× | ||
| Q3 25 | 1.78× | 1.24× | ||
| Q2 25 | 2.11× | 2.06× | ||
| Q1 25 | 0.77× | 3.29× | ||
| Q4 24 | 1.24× | 1.52× | ||
| Q3 24 | 1.46× | 1.20× | ||
| Q2 24 | 1.34× | 3.57× | ||
| Q1 24 | 1.15× | 3.33× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AYI
| Sales Channel Through Independent Sales Network | $616.7M | 54% |
| Acuity Intelligent Spaces | $248.1M | 22% |
| QSCLLC | $95.1M | 8% |
| Sales Channel Through Direct Sales Network | $70.6M | 6% |
| Sales Channel Through Original Equipment Manufacturer And Other | $49.1M | 4% |
| Sales Channel Through Corporate Accounts Network | $40.7M | 4% |
| Sales Channel Through Retail | $40.3M | 4% |
CMS
| Electric Utility | $1.3B | 59% |
| Gas Utility | $803.0M | 38% |
| North Star Clean Energy | $77.0M | 4% |
