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Side-by-side financial comparison of CMS Energy (CMS) and Ellomay Capital Ltd. (ELLO). Click either name above to swap in a different company.

CMS Energy is the larger business by last-quarter revenue ($2.1B vs $20.1M, roughly 106.0× Ellomay Capital Ltd.). Over the past eight quarters, Ellomay Capital Ltd.'s revenue compounded faster (386.1% CAGR vs -0.2%).

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.

Ellomay Capital Ltd is a renewable energy enterprise focused on the development, ownership, and operation of clean power assets. Its portfolio includes solar photovoltaic projects, onshore wind farms, and pumped storage hydroelectric facilities, with core operations across Israel and key European markets, delivering low-carbon energy to both commercial and residential end consumers.

CMS vs ELLO — Head-to-Head

Bigger by revenue
CMS
CMS
106.0× larger
CMS
$2.1B
$20.1M
ELLO
Faster 2-yr revenue CAGR
ELLO
ELLO
Annualised
ELLO
386.1%
-0.2%
CMS

Income Statement — Q4 2025 vs Q2 2025

Metric
CMS
CMS
ELLO
ELLO
Revenue
$2.1B
$20.1M
Net Profit
$289.0M
Gross Margin
12.1%
Operating Margin
20.4%
-11.8%
Net Margin
13.5%
Revenue YoY
13.0%
Net Profit YoY
9.1%
EPS (diluted)
$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.

Revenue
CMS
CMS
ELLO
ELLO
Q4 25
$2.1B
Q3 25
$2.0B
Q2 25
$1.8B
$20.1M
Q1 25
$2.4B
$945.0K
Q4 24
$1.9B
Q3 24
$1.7B
Q2 24
$1.6B
$19.5M
Q1 24
$2.1B
$71.0K
Net Profit
CMS
CMS
ELLO
ELLO
Q4 25
$289.0M
Q3 25
$277.0M
Q2 25
$201.0M
Q1 25
$304.0M
Q4 24
$265.0M
Q3 24
$253.0M
Q2 24
$198.0M
Q1 24
$287.0M
Gross Margin
CMS
CMS
ELLO
ELLO
Q4 25
Q3 25
Q2 25
12.1%
Q1 25
Q4 24
Q3 24
Q2 24
8.7%
Q1 24
Operating Margin
CMS
CMS
ELLO
ELLO
Q4 25
20.4%
Q3 25
24.4%
Q2 25
17.6%
-11.8%
Q1 25
20.6%
-140.2%
Q4 24
22.5%
Q3 24
21.4%
Q2 24
18.0%
-9.3%
Q1 24
19.2%
-2991.5%
Net Margin
CMS
CMS
ELLO
ELLO
Q4 25
13.5%
Q3 25
14.0%
Q2 25
11.2%
Q1 25
12.7%
Q4 24
14.0%
Q3 24
14.8%
Q2 24
12.6%
Q1 24
13.4%
EPS (diluted)
CMS
CMS
ELLO
ELLO
Q4 25
$0.94
Q3 25
$0.92
Q2 25
$0.66
Q1 25
$1.01
Q4 24
$0.88
Q3 24
$0.84
Q2 24
$0.65
Q1 24
$0.96

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CMS
CMS
ELLO
ELLO
Cash + ST InvestmentsLiquidity on hand
$509.0M
$54.5M
Total DebtLower is stronger
Stockholders' EquityBook value
$9.1B
$171.5M
Total Assets
$39.9B
$855.5M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CMS
CMS
ELLO
ELLO
Q4 25
$509.0M
Q3 25
$362.0M
Q2 25
$844.0M
$54.5M
Q1 25
$465.0M
Q4 24
$103.0M
Q3 24
$412.0M
Q2 24
$699.0M
$59.9M
Q1 24
$802.0M
Stockholders' Equity
CMS
CMS
ELLO
ELLO
Q4 25
$9.1B
Q3 25
$8.9B
Q2 25
$8.4B
$171.5M
Q1 25
$8.3B
Q4 24
$8.2B
Q3 24
$8.1B
Q2 24
$8.0B
$136.3M
Q1 24
$7.9B
Total Assets
CMS
CMS
ELLO
ELLO
Q4 25
$39.9B
Q3 25
$38.0B
Q2 25
$37.7B
$855.5M
Q1 25
$36.3B
Q4 24
$35.9B
Q3 24
$34.8B
Q2 24
$34.4B
$678.9M
Q1 24
$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
CMS
CMS
ELLO
ELLO
Operating Cash FlowLast quarter
$478.0M
$5.1K
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
1.65×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CMS
CMS
ELLO
ELLO
Q4 25
$478.0M
Q3 25
$343.0M
Q2 25
$414.0M
$5.1K
Q1 25
$1.0B
Q4 24
$403.0M
Q3 24
$304.0M
Q2 24
$707.0M
$468.0K
Q1 24
$956.0M
Free Cash Flow
CMS
CMS
ELLO
ELLO
Q4 25
Q3 25
$-635.0M
Q2 25
$-470.0M
Q1 25
$112.0M
Q4 24
Q3 24
$-502.0M
Q2 24
$26.0M
Q1 24
$343.0M
FCF Margin
CMS
CMS
ELLO
ELLO
Q4 25
Q3 25
-32.2%
Q2 25
-26.1%
Q1 25
4.7%
Q4 24
Q3 24
-29.3%
Q2 24
1.6%
Q1 24
16.0%
Capex Intensity
CMS
CMS
ELLO
ELLO
Q4 25
Q3 25
49.5%
Q2 25
49.2%
Q1 25
37.0%
Q4 24
Q3 24
47.1%
Q2 24
43.2%
Q1 24
28.6%
Cash Conversion
CMS
CMS
ELLO
ELLO
Q4 25
1.65×
Q3 25
1.24×
Q2 25
2.06×
Q1 25
3.29×
Q4 24
1.52×
Q3 24
1.20×
Q2 24
3.57×
Q1 24
3.33×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

CMS
CMS

Electric Utility$1.3B59%
Gas Utility$803.0M38%
North Star Clean Energy$77.0M4%

ELLO
ELLO

Segment breakdown not available.

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