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Side-by-side financial comparison of CMS Energy (CMS) and Hyatt Hotels Corp (H). Click either name above to swap in a different company.
CMS Energy is the larger business by last-quarter revenue ($2.1B vs $1.8B, roughly 1.2× Hyatt Hotels Corp). CMS Energy runs the higher net margin — 13.5% vs -1.1%, a 14.7% gap on every dollar of revenue. On growth, CMS Energy posted the faster year-over-year revenue change (13.0% vs 11.7%). Over the past eight quarters, Hyatt Hotels Corp's revenue compounded faster (2.2% 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.
Hyatt Hotels Corporation, commonly known as Hyatt Hotels & Resorts, is an American multinational hospitality company headquartered in the Riverside Plaza area of Chicago that manages and franchises luxury and business hotels, resorts, and vacation properties. Hyatt Hotels & Resorts is one of the businesses managed by the Pritzker family. Hyatt has more than 1350 hotels and all-inclusive properties in 69 countries, across North America, South America, Europe, Asia, Africa and Australia.
CMS vs H — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.8B |
| Net Profit | $289.0M | $-20.0M |
| Gross Margin | — | — |
| Operating Margin | 20.4% | 0.4% |
| Net Margin | 13.5% | -1.1% |
| Revenue YoY | 13.0% | 11.7% |
| Net Profit YoY | 9.1% | 64.3% |
| EPS (diluted) | $0.94 | $-0.20 |
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.
| Q4 25 | $2.1B | $1.8B | ||
| Q3 25 | $2.0B | $1.8B | ||
| Q2 25 | $1.8B | $1.8B | ||
| Q1 25 | $2.4B | $1.7B | ||
| Q4 24 | $1.9B | $1.6B | ||
| Q3 24 | $1.7B | $1.6B | ||
| Q2 24 | $1.6B | $1.7B | ||
| Q1 24 | $2.1B | $1.7B |
| Q4 25 | $289.0M | $-20.0M | ||
| Q3 25 | $277.0M | $-49.0M | ||
| Q2 25 | $201.0M | $-3.0M | ||
| Q1 25 | $304.0M | $20.0M | ||
| Q4 24 | $265.0M | $-56.0M | ||
| Q3 24 | $253.0M | $471.0M | ||
| Q2 24 | $198.0M | $359.0M | ||
| Q1 24 | $287.0M | $522.0M |
| Q4 25 | 20.4% | 0.4% | ||
| Q3 25 | 24.4% | -1.0% | ||
| Q2 25 | 17.6% | 2.1% | ||
| Q1 25 | 20.6% | 3.0% | ||
| Q4 24 | 22.5% | -3.0% | ||
| Q3 24 | 21.4% | 37.3% | ||
| Q2 24 | 18.0% | 27.1% | ||
| Q1 24 | 19.2% | 31.6% |
| Q4 25 | 13.5% | -1.1% | ||
| Q3 25 | 14.0% | -2.7% | ||
| Q2 25 | 11.2% | -0.2% | ||
| Q1 25 | 12.7% | 1.2% | ||
| Q4 24 | 14.0% | -3.5% | ||
| Q3 24 | 14.8% | 28.9% | ||
| Q2 24 | 12.6% | 21.1% | ||
| Q1 24 | 13.4% | 30.5% |
| Q4 25 | $0.94 | $-0.20 | ||
| Q3 25 | $0.92 | $-0.51 | ||
| Q2 25 | $0.66 | $-0.03 | ||
| Q1 25 | $1.01 | $0.19 | ||
| Q4 24 | $0.88 | $-0.37 | ||
| Q3 24 | $0.84 | $4.63 | ||
| Q2 24 | $0.65 | $3.46 | ||
| Q1 24 | $0.96 | $4.93 |
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 | $813.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $9.1B | $3.3B |
| Total Assets | $39.9B | $14.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $509.0M | $813.0M | ||
| Q3 25 | $362.0M | $749.0M | ||
| Q2 25 | $844.0M | $912.0M | ||
| Q1 25 | $465.0M | $1.8B | ||
| Q4 24 | $103.0M | $1.4B | ||
| Q3 24 | $412.0M | $1.1B | ||
| Q2 24 | $699.0M | $2.0B | ||
| Q1 24 | $802.0M | $794.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | $6.0B | ||
| Q2 25 | — | $6.0B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $3.8B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | — | $3.1B |
| Q4 25 | $9.1B | $3.3B | ||
| Q3 25 | $8.9B | $3.5B | ||
| Q2 25 | $8.4B | $3.6B | ||
| Q1 25 | $8.3B | $3.5B | ||
| Q4 24 | $8.2B | $3.5B | ||
| Q3 24 | $8.1B | $3.7B | ||
| Q2 24 | $8.0B | $3.9B | ||
| Q1 24 | $7.9B | $3.7B |
| Q4 25 | $39.9B | $14.0B | ||
| Q3 25 | $38.0B | $15.7B | ||
| Q2 25 | $37.7B | $15.9B | ||
| Q1 25 | $36.3B | $14.0B | ||
| Q4 24 | $35.9B | $13.3B | ||
| Q3 24 | $34.8B | $11.9B | ||
| Q2 24 | $34.4B | $12.8B | ||
| Q1 24 | $33.9B | $11.7B |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.73× | ||
| Q2 25 | — | 1.69× | ||
| Q1 25 | — | 1.25× | ||
| Q4 24 | — | 1.07× | ||
| Q3 24 | — | 0.85× | ||
| Q2 24 | — | 1.01× | ||
| Q1 24 | — | 0.84× |
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 | $313.0M |
| Free Cash FlowOCF − Capex | — | $236.0M |
| FCF MarginFCF / Revenue | — | 13.2% |
| Capex IntensityCapex / Revenue | — | 4.3% |
| Cash ConversionOCF / Net Profit | 1.65× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $159.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $478.0M | $313.0M | ||
| Q3 25 | $343.0M | $-20.0M | ||
| Q2 25 | $414.0M | $-67.0M | ||
| Q1 25 | $1.0B | $153.0M | ||
| Q4 24 | $403.0M | $235.0M | ||
| Q3 24 | $304.0M | $-21.0M | ||
| Q2 24 | $707.0M | $177.0M | ||
| Q1 24 | $956.0M | $242.0M |
| Q4 25 | — | $236.0M | ||
| Q3 25 | $-635.0M | $-89.0M | ||
| Q2 25 | $-470.0M | $-111.0M | ||
| Q1 25 | $112.0M | $123.0M | ||
| Q4 24 | — | $184.0M | ||
| Q3 24 | $-502.0M | $-64.0M | ||
| Q2 24 | $26.0M | $135.0M | ||
| Q1 24 | $343.0M | $208.0M |
| Q4 25 | — | 13.2% | ||
| Q3 25 | -32.2% | -5.0% | ||
| Q2 25 | -26.1% | -6.1% | ||
| Q1 25 | 4.7% | 7.2% | ||
| Q4 24 | — | 11.5% | ||
| Q3 24 | -29.3% | -3.9% | ||
| Q2 24 | 1.6% | 7.9% | ||
| Q1 24 | 16.0% | 12.1% |
| Q4 25 | — | 4.3% | ||
| Q3 25 | 49.5% | 3.9% | ||
| Q2 25 | 49.2% | 2.4% | ||
| Q1 25 | 37.0% | 1.7% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | 47.1% | 2.6% | ||
| Q2 24 | 43.2% | 2.5% | ||
| Q1 24 | 28.6% | 2.0% |
| Q4 25 | 1.65× | — | ||
| Q3 25 | 1.24× | — | ||
| Q2 25 | 2.06× | — | ||
| Q1 25 | 3.29× | 7.65× | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 1.20× | -0.04× | ||
| Q2 24 | 3.57× | 0.49× | ||
| Q1 24 | 3.33× | 0.46× |
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% |
H
| Other | $627.0M | 35% |
| Rooms Revenue | $326.0M | 18% |
| Net Fees | $290.0M | 16% |
| Distribution Segment | $177.0M | 10% |
| Franchise And Other Fees | $114.0M | 6% |
| Base Management Fees | $112.0M | 6% |
| Incentive Management Fees | $81.0M | 5% |
| Other Owned And Leased Hotel Revenue | $41.0M | 2% |
| Contra Revenue | $17.0M | 1% |
| Other Revenues | $4.0M | 0% |
