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Side-by-side financial comparison of CMS Energy (CMS) and Old Dominion (ODFL). Click either name above to swap in a different company.
CMS Energy is the larger business by last-quarter revenue ($2.1B vs $1.3B, roughly 1.6× Old Dominion). Old Dominion runs the higher net margin — 17.6% vs 13.5%, a 4.0% gap on every dollar of revenue. On growth, CMS Energy posted the faster year-over-year revenue change (13.0% vs -5.7%). Over the past eight quarters, CMS Energy's revenue compounded faster (-0.2% CAGR vs -5.4%).
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.
Old Dominion Freight Line, Inc. (ODFL) is an American regional, inter-regional and national less than truckload shipping (LTL) company. In addition to its core LTL services, the company offers expedited, logistics and household moving services.
CMS vs ODFL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.3B |
| Net Profit | $289.0M | $229.5M |
| Gross Margin | — | — |
| Operating Margin | 20.4% | 23.3% |
| Net Margin | 13.5% | 17.6% |
| Revenue YoY | 13.0% | -5.7% |
| Net Profit YoY | 9.1% | -12.8% |
| EPS (diluted) | $0.94 | $1.10 |
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 | $1.3B | ||
| Q3 25 | $2.0B | $1.4B | ||
| Q2 25 | $1.8B | $1.4B | ||
| Q1 25 | $2.4B | $1.4B | ||
| Q4 24 | $1.9B | $1.4B | ||
| Q3 24 | $1.7B | $1.5B | ||
| Q2 24 | $1.6B | $1.5B | ||
| Q1 24 | $2.1B | $1.5B |
| Q4 25 | $289.0M | $229.5M | ||
| Q3 25 | $277.0M | $270.9M | ||
| Q2 25 | $201.0M | $268.6M | ||
| Q1 25 | $304.0M | $254.7M | ||
| Q4 24 | $265.0M | $263.1M | ||
| Q3 24 | $253.0M | $308.6M | ||
| Q2 24 | $198.0M | $322.0M | ||
| Q1 24 | $287.0M | $292.3M |
| Q4 25 | 20.4% | 23.3% | ||
| Q3 25 | 24.4% | 25.7% | ||
| Q2 25 | 17.6% | 25.4% | ||
| Q1 25 | 20.6% | 24.6% | ||
| Q4 24 | 22.5% | 24.1% | ||
| Q3 24 | 21.4% | 27.3% | ||
| Q2 24 | 18.0% | 28.1% | ||
| Q1 24 | 19.2% | 26.5% |
| Q4 25 | 13.5% | 17.6% | ||
| Q3 25 | 14.0% | 19.3% | ||
| Q2 25 | 11.2% | 19.1% | ||
| Q1 25 | 12.7% | 18.5% | ||
| Q4 24 | 14.0% | 19.0% | ||
| Q3 24 | 14.8% | 21.0% | ||
| Q2 24 | 12.6% | 21.5% | ||
| Q1 24 | 13.4% | 20.0% |
| Q4 25 | $0.94 | $1.10 | ||
| Q3 25 | $0.92 | $1.28 | ||
| Q2 25 | $0.66 | $1.27 | ||
| Q1 25 | $1.01 | $1.19 | ||
| Q4 24 | $0.88 | $1.23 | ||
| Q3 24 | $0.84 | $1.43 | ||
| Q2 24 | $0.65 | $1.48 | ||
| Q1 24 | $0.96 | $1.34 |
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 | $120.1M |
| Total DebtLower is stronger | — | $20.0M |
| Stockholders' EquityBook value | $9.1B | $4.3B |
| Total Assets | $39.9B | $5.5B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $509.0M | $120.1M | ||
| Q3 25 | $362.0M | $46.6M | ||
| Q2 25 | $844.0M | $24.1M | ||
| Q1 25 | $465.0M | $97.2M | ||
| Q4 24 | $103.0M | $108.7M | ||
| Q3 24 | $412.0M | $74.2M | ||
| Q2 24 | $699.0M | $104.6M | ||
| Q1 24 | $802.0M | $581.0M |
| Q4 25 | — | $20.0M | ||
| Q3 25 | — | $65.0M | ||
| Q2 25 | — | $150.0M | ||
| Q1 25 | — | $40.0M | ||
| Q4 24 | — | $40.0M | ||
| Q3 24 | — | $40.0M | ||
| Q2 24 | — | $40.0M | ||
| Q1 24 | — | $60.0M |
| Q4 25 | $9.1B | $4.3B | ||
| Q3 25 | $8.9B | $4.3B | ||
| Q2 25 | $8.4B | $4.2B | ||
| Q1 25 | $8.3B | $4.2B | ||
| Q4 24 | $8.2B | $4.2B | ||
| Q3 24 | $8.1B | $4.2B | ||
| Q2 24 | $8.0B | $4.1B | ||
| Q1 24 | $7.9B | $4.4B |
| Q4 25 | $39.9B | $5.5B | ||
| Q3 25 | $38.0B | $5.5B | ||
| Q2 25 | $37.7B | $5.6B | ||
| Q1 25 | $36.3B | $5.5B | ||
| Q4 24 | $35.9B | $5.5B | ||
| Q3 24 | $34.8B | $5.4B | ||
| Q2 24 | $34.4B | $5.3B | ||
| Q1 24 | $33.9B | $5.7B |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | — | 0.04× | ||
| Q1 25 | — | 0.01× | ||
| Q4 24 | — | 0.01× | ||
| Q3 24 | — | 0.01× | ||
| Q2 24 | — | 0.01× | ||
| Q1 24 | — | 0.01× |
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 | $310.3M |
| Free Cash FlowOCF − Capex | — | $264.5M |
| FCF MarginFCF / Revenue | — | 20.2% |
| Capex IntensityCapex / Revenue | — | 3.5% |
| Cash ConversionOCF / Net Profit | 1.65× | 1.35× |
| TTM Free Cash FlowTrailing 4 quarters | — | $955.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $478.0M | $310.3M | ||
| Q3 25 | $343.0M | $437.5M | ||
| Q2 25 | $414.0M | $285.8M | ||
| Q1 25 | $1.0B | $336.5M | ||
| Q4 24 | $403.0M | $401.1M | ||
| Q3 24 | $304.0M | $446.5M | ||
| Q2 24 | $707.0M | $387.9M | ||
| Q1 24 | $956.0M | $423.9M |
| Q4 25 | — | $264.5M | ||
| Q3 25 | $-635.0M | $343.5M | ||
| Q2 25 | $-470.0M | $98.7M | ||
| Q1 25 | $112.0M | $248.4M | ||
| Q4 24 | — | $230.1M | ||
| Q3 24 | $-502.0M | $203.7M | ||
| Q2 24 | $26.0M | $149.7M | ||
| Q1 24 | $343.0M | $304.4M |
| Q4 25 | — | 20.2% | ||
| Q3 25 | -32.2% | 24.4% | ||
| Q2 25 | -26.1% | 7.0% | ||
| Q1 25 | 4.7% | 18.1% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | -29.3% | 13.9% | ||
| Q2 24 | 1.6% | 10.0% | ||
| Q1 24 | 16.0% | 20.8% |
| Q4 25 | — | 3.5% | ||
| Q3 25 | 49.5% | 6.7% | ||
| Q2 25 | 49.2% | 13.3% | ||
| Q1 25 | 37.0% | 6.4% | ||
| Q4 24 | — | 12.3% | ||
| Q3 24 | 47.1% | 16.5% | ||
| Q2 24 | 43.2% | 15.9% | ||
| Q1 24 | 28.6% | 8.2% |
| Q4 25 | 1.65× | 1.35× | ||
| Q3 25 | 1.24× | 1.61× | ||
| Q2 25 | 2.06× | 1.06× | ||
| Q1 25 | 3.29× | 1.32× | ||
| Q4 24 | 1.52× | 1.52× | ||
| Q3 24 | 1.20× | 1.45× | ||
| Q2 24 | 3.57× | 1.20× | ||
| Q1 24 | 3.33× | 1.45× |
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% |
ODFL
| LTL Service Revenue | $1.3B | 99% |
| Other Service Revenue | $11.4M | 1% |
