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Side-by-side financial comparison of CMS Energy (CMS) and Roper Technologies (ROP). Click either name above to swap in a different company.
CMS Energy is the larger business by last-quarter revenue ($2.1B vs $2.1B, roughly 1.0× Roper Technologies). Roper Technologies runs the higher net margin — 15.8% vs 13.5%, a 2.3% gap on every dollar of revenue. On growth, CMS Energy posted the faster year-over-year revenue change (13.0% vs 11.3%). Over the past eight quarters, Roper Technologies's revenue compounded faster (10.5% 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.
Roper Technologies, Inc. is a holding company that owns companies in the technology sector.
CMS vs ROP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $2.1B |
| Net Profit | $289.0M | $331.0M |
| Gross Margin | — | 69.4% |
| Operating Margin | 20.4% | 27.2% |
| Net Margin | 13.5% | 15.8% |
| Revenue YoY | 13.0% | 11.3% |
| Net Profit YoY | 9.1% | 842.6% |
| EPS (diluted) | $0.94 | $4.87 |
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 | — | $2.1B | ||
| Q4 25 | $2.1B | $2.1B | ||
| Q3 25 | $2.0B | $2.0B | ||
| Q2 25 | $1.8B | $1.9B | ||
| Q1 25 | $2.4B | $1.9B | ||
| Q4 24 | $1.9B | $1.9B | ||
| Q3 24 | $1.7B | $1.8B | ||
| Q2 24 | $1.6B | $1.7B |
| Q1 26 | — | $331.0M | ||
| Q4 25 | $289.0M | $428.4M | ||
| Q3 25 | $277.0M | $398.5M | ||
| Q2 25 | $201.0M | $378.3M | ||
| Q1 25 | $304.0M | $331.1M | ||
| Q4 24 | $265.0M | $462.3M | ||
| Q3 24 | $253.0M | $367.9M | ||
| Q2 24 | $198.0M | $337.1M |
| Q1 26 | — | 69.4% | ||
| Q4 25 | — | 69.5% | ||
| Q3 25 | — | 69.5% | ||
| Q2 25 | — | 69.2% | ||
| Q1 25 | — | 68.7% | ||
| Q4 24 | — | 68.3% | ||
| Q3 24 | — | 69.2% | ||
| Q2 24 | — | 69.5% |
| Q1 26 | — | 27.2% | ||
| Q4 25 | 20.4% | 28.6% | ||
| Q3 25 | 24.4% | 28.4% | ||
| Q2 25 | 17.6% | 28.2% | ||
| Q1 25 | 20.6% | 27.9% | ||
| Q4 24 | 22.5% | 28.0% | ||
| Q3 24 | 21.4% | 28.1% | ||
| Q2 24 | 18.0% | 28.8% |
| Q1 26 | — | 15.8% | ||
| Q4 25 | 13.5% | 20.8% | ||
| Q3 25 | 14.0% | 19.8% | ||
| Q2 25 | 11.2% | 19.5% | ||
| Q1 25 | 12.7% | 17.6% | ||
| Q4 24 | 14.0% | 24.6% | ||
| Q3 24 | 14.8% | 20.8% | ||
| Q2 24 | 12.6% | 19.6% |
| Q1 26 | — | $4.87 | ||
| Q4 25 | $0.94 | $3.97 | ||
| Q3 25 | $0.92 | $3.68 | ||
| Q2 25 | $0.66 | $3.49 | ||
| Q1 25 | $1.01 | $3.06 | ||
| Q4 24 | $0.88 | $4.29 | ||
| Q3 24 | $0.84 | $3.40 | ||
| Q2 24 | $0.65 | $3.12 |
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 | $382.9M |
| Total DebtLower is stronger | — | $9.7B |
| Stockholders' EquityBook value | $9.1B | $18.8B |
| Total Assets | $39.9B | $34.6B |
| Debt / EquityLower = less leverage | — | 0.52× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $382.9M | ||
| Q4 25 | $509.0M | $297.4M | ||
| Q3 25 | $362.0M | $320.0M | ||
| Q2 25 | $844.0M | $242.4M | ||
| Q1 25 | $465.0M | $372.8M | ||
| Q4 24 | $103.0M | $188.2M | ||
| Q3 24 | $412.0M | $269.6M | ||
| Q2 24 | $699.0M | $251.5M |
| Q1 26 | — | $9.7B | ||
| Q4 25 | — | $9.3B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $18.8B | ||
| Q4 25 | $9.1B | $19.9B | ||
| Q3 25 | $8.9B | $20.0B | ||
| Q2 25 | $8.4B | $19.6B | ||
| Q1 25 | $8.3B | $19.2B | ||
| Q4 24 | $8.2B | $18.9B | ||
| Q3 24 | $8.1B | $18.5B | ||
| Q2 24 | $8.0B | $18.1B |
| Q1 26 | — | $34.6B | ||
| Q4 25 | $39.9B | $34.6B | ||
| Q3 25 | $38.0B | $34.6B | ||
| Q2 25 | $37.7B | $33.2B | ||
| Q1 25 | $36.3B | $31.4B | ||
| Q4 24 | $35.9B | $31.3B | ||
| Q3 24 | $34.8B | $31.6B | ||
| Q2 24 | $34.4B | $29.8B |
| Q1 26 | — | 0.52× | ||
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.40× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $507.0M |
| FCF MarginFCF / Revenue | — | 24.2% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| 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 | $738.0M | ||
| Q3 25 | $343.0M | $869.5M | ||
| Q2 25 | $414.0M | $404.1M | ||
| Q1 25 | $1.0B | $528.7M | ||
| Q4 24 | $403.0M | $722.2M | ||
| Q3 24 | $304.0M | $755.4M | ||
| Q2 24 | $707.0M | $384.1M |
| Q1 26 | — | $507.0M | ||
| 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 26 | — | 24.2% | ||
| 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 26 | — | 0.5% | ||
| 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 26 | — | — | ||
| Q4 25 | 1.65× | 1.72× | ||
| Q3 25 | 1.24× | 2.18× | ||
| Q2 25 | 2.06× | 1.07× | ||
| Q1 25 | 3.29× | 1.60× | ||
| Q4 24 | 1.52× | 1.56× | ||
| Q3 24 | 1.20× | 2.05× | ||
| Q2 24 | 3.57× | 1.14× |
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% |
ROP
Segment breakdown not available.
