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Side-by-side financial comparison of CMS Energy (CMS) and Evercore Inc. (EVR). Click either name above to swap in a different company.
CMS Energy is the larger business by last-quarter revenue ($2.1B vs $1.4B, roughly 1.5× Evercore Inc.). Evercore Inc. runs the higher net margin — 23.0% vs 13.5%, a 9.5% gap on every dollar of revenue. On growth, Evercore Inc. posted the faster year-over-year revenue change (100.3% vs 13.0%). Over the past eight quarters, Evercore Inc.'s revenue compounded faster (42.2% 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.
Evercore Inc., formerly known as Evercore Partners, is a global independent investment banking advisory firm founded in 1995 by Roger Altman, David Offensend, and Austin Beutner. The firm has advised on over $4.7 trillion of merger, acquisition, and restructuring transactions since its founding.
CMS vs EVR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.4B |
| Net Profit | $289.0M | $322.7M |
| Gross Margin | — | — |
| Operating Margin | 20.4% | — |
| Net Margin | 13.5% | 23.0% |
| Revenue YoY | 13.0% | 100.3% |
| Net Profit YoY | 9.1% | 106.1% |
| EPS (diluted) | $0.94 | $7.20 |
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.
| Q1 26 | — | $1.4B | ||
| Q4 25 | $2.1B | $1.3B | ||
| Q3 25 | $2.0B | $1.0B | ||
| Q2 25 | $1.8B | $838.0M | ||
| Q1 25 | $2.4B | $699.0M | ||
| Q4 24 | $1.9B | $979.5M | ||
| Q3 24 | $1.7B | $738.4M | ||
| Q2 24 | $1.6B | $693.4M |
| Q1 26 | — | $322.7M | ||
| Q4 25 | $289.0M | $204.0M | ||
| Q3 25 | $277.0M | $144.6M | ||
| Q2 25 | $201.0M | $97.2M | ||
| Q1 25 | $304.0M | $146.2M | ||
| Q4 24 | $265.0M | $140.4M | ||
| Q3 24 | $253.0M | $78.4M | ||
| Q2 24 | $198.0M | $73.8M |
| Q1 26 | — | — | ||
| Q4 25 | 20.4% | 24.2% | ||
| Q3 25 | 24.4% | 20.8% | ||
| Q2 25 | 17.6% | 18.0% | ||
| Q1 25 | 20.6% | 16.0% | ||
| Q4 24 | 22.5% | 21.8% | ||
| Q3 24 | 21.4% | 16.7% | ||
| Q2 24 | 18.0% | 15.9% |
| Q1 26 | — | 23.0% | ||
| Q4 25 | 13.5% | 15.7% | ||
| Q3 25 | 14.0% | 13.8% | ||
| Q2 25 | 11.2% | 11.6% | ||
| Q1 25 | 12.7% | 20.9% | ||
| Q4 24 | 14.0% | 14.3% | ||
| Q3 24 | 14.8% | 10.6% | ||
| Q2 24 | 12.6% | 10.6% |
| Q1 26 | — | $7.20 | ||
| Q4 25 | $0.94 | $4.80 | ||
| Q3 25 | $0.92 | $3.41 | ||
| Q2 25 | $0.66 | $2.36 | ||
| Q1 25 | $1.01 | $3.48 | ||
| Q4 24 | $0.88 | $3.32 | ||
| Q3 24 | $0.84 | $1.86 | ||
| Q2 24 | $0.65 | $1.81 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $509.0M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $9.1B | — |
| Total Assets | $39.9B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $509.0M | $3.0B | ||
| Q3 25 | $362.0M | $2.4B | ||
| Q2 25 | $844.0M | $1.7B | ||
| Q1 25 | $465.0M | $1.4B | ||
| Q4 24 | $103.0M | $2.4B | ||
| Q3 24 | $412.0M | $1.8B | ||
| Q2 24 | $699.0M | $1.7B |
| Q1 26 | — | — | ||
| Q4 25 | $9.1B | $2.0B | ||
| Q3 25 | $8.9B | $1.8B | ||
| Q2 25 | $8.4B | $1.7B | ||
| Q1 25 | $8.3B | $1.5B | ||
| Q4 24 | $8.2B | $1.7B | ||
| Q3 24 | $8.1B | $1.6B | ||
| Q2 24 | $8.0B | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | $39.9B | $5.4B | ||
| Q3 25 | $38.0B | $4.4B | ||
| Q2 25 | $37.7B | $3.7B | ||
| Q1 25 | $36.3B | $3.3B | ||
| Q4 24 | $35.9B | $4.2B | ||
| Q3 24 | $34.8B | $3.6B | ||
| Q2 24 | $34.4B | $3.3B |
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 | $478.0M | — |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | $478.0M | $807.5M | ||
| Q3 25 | $343.0M | $560.9M | ||
| Q2 25 | $414.0M | $437.7M | ||
| Q1 25 | $1.0B | $-549.7M | ||
| Q4 24 | $403.0M | $686.4M | ||
| Q3 24 | $304.0M | $234.5M | ||
| Q2 24 | $707.0M | $348.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $798.6M | ||
| Q3 25 | $-635.0M | $541.5M | ||
| Q2 25 | $-470.0M | $411.7M | ||
| Q1 25 | $112.0M | $-569.3M | ||
| Q4 24 | — | $673.1M | ||
| Q3 24 | $-502.0M | $226.6M | ||
| Q2 24 | $26.0M | $340.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | 61.6% | ||
| Q3 25 | -32.2% | 51.8% | ||
| Q2 25 | -26.1% | 49.1% | ||
| Q1 25 | 4.7% | -81.4% | ||
| Q4 24 | — | 68.7% | ||
| Q3 24 | -29.3% | 30.7% | ||
| Q2 24 | 1.6% | 49.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.7% | ||
| Q3 25 | 49.5% | 1.9% | ||
| Q2 25 | 49.2% | 3.1% | ||
| Q1 25 | 37.0% | 2.8% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 47.1% | 1.1% | ||
| Q2 24 | 43.2% | 1.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.65× | 3.96× | ||
| Q3 25 | 1.24× | 3.88× | ||
| Q2 25 | 2.06× | 4.50× | ||
| Q1 25 | 3.29× | -3.76× | ||
| Q4 24 | 1.52× | 4.89× | ||
| Q3 24 | 1.20× | 2.99× | ||
| Q2 24 | 3.57× | 4.72× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CMS
| Electric Utility | $1.3B | 59% |
| Gas Utility | $803.0M | 38% |
| North Star Clean Energy | $77.0M | 4% |
EVR
| Advisory Fees (1) | $1.2B | 89% |
| Commissions and Related Revenue | $62.7M | 4% |
| Underwriting Fees | $55.1M | 4% |
| Asset Management and Administration Fees (2) | $23.7M | 2% |
| Other Revenue, net | $15.4M | 1% |
