vs
Side-by-side financial comparison of CMS Energy (CMS) and Molson Coors Beverage Company (TAP). Click either name above to swap in a different company.
Molson Coors Beverage Company is the larger business by last-quarter revenue ($3.1B vs $2.1B, roughly 1.5× CMS Energy). CMS Energy runs the higher net margin — 13.5% vs 6.7%, a 6.8% gap on every dollar of revenue. On growth, CMS Energy posted the faster year-over-year revenue change (13.0% vs 6.1%). Over the past eight quarters, CMS Energy's revenue compounded faster (-0.2% CAGR vs -9.8%).
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.
Molson Coors Beverage Company is a Canadian-American multinational drink and brewing company headquartered in Chicago, Illinois and Montreal, Quebec.
CMS vs TAP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $3.1B |
| Net Profit | $289.0M | $209.3M |
| Gross Margin | — | 31.0% |
| Operating Margin | 20.4% | — |
| Net Margin | 13.5% | 6.7% |
| Revenue YoY | 13.0% | 6.1% |
| Net Profit YoY | 9.1% | -28.7% |
| EPS (diluted) | $0.94 | $1.22 |
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 | — | $3.1B | ||
| Q4 25 | $2.1B | $3.1B | ||
| Q3 25 | $2.0B | $3.5B | ||
| Q2 25 | $1.8B | $3.7B | ||
| Q1 25 | $2.4B | $2.7B | ||
| Q4 24 | $1.9B | $3.2B | ||
| Q3 24 | $1.7B | $3.6B | ||
| Q2 24 | $1.6B | $3.8B |
| Q1 26 | — | $209.3M | ||
| Q4 25 | $289.0M | $238.3M | ||
| Q3 25 | $277.0M | $-2.9B | ||
| Q2 25 | $201.0M | $428.7M | ||
| Q1 25 | $304.0M | $121.0M | ||
| Q4 24 | $265.0M | $287.8M | ||
| Q3 24 | $253.0M | $199.8M | ||
| Q2 24 | $198.0M | $427.0M |
| Q1 26 | — | 31.0% | ||
| Q4 25 | — | 31.0% | ||
| Q3 25 | — | 33.7% | ||
| Q2 25 | — | 34.3% | ||
| Q1 25 | — | 31.6% | ||
| Q4 24 | — | 32.0% | ||
| Q3 24 | — | 33.4% | ||
| Q2 24 | — | 34.6% |
| Q1 26 | — | — | ||
| Q4 25 | 20.4% | 10.4% | ||
| Q3 25 | 24.4% | -98.5% | ||
| Q2 25 | 17.6% | 15.6% | ||
| Q1 25 | 20.6% | 6.9% | ||
| Q4 24 | 22.5% | 12.0% | ||
| Q3 24 | 21.4% | 12.5% | ||
| Q2 24 | 18.0% | 15.6% |
| Q1 26 | — | 6.7% | ||
| Q4 25 | 13.5% | 7.6% | ||
| Q3 25 | 14.0% | -84.0% | ||
| Q2 25 | 11.2% | 11.5% | ||
| Q1 25 | 12.7% | 4.5% | ||
| Q4 24 | 14.0% | 8.9% | ||
| Q3 24 | 14.8% | 5.5% | ||
| Q2 24 | 12.6% | 11.1% |
| Q1 26 | — | $1.22 | ||
| Q4 25 | $0.94 | $1.32 | ||
| Q3 25 | $0.92 | $-14.79 | ||
| Q2 25 | $0.66 | $2.13 | ||
| Q1 25 | $1.01 | $0.59 | ||
| Q4 24 | $0.88 | $1.39 | ||
| Q3 24 | $0.84 | $0.96 | ||
| Q2 24 | $0.65 | $2.03 |
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 | $896.5M |
| Total DebtLower is stronger | — | $3.9B |
| Stockholders' EquityBook value | $9.1B | $10.4B |
| Total Assets | $39.9B | $22.7B |
| Debt / EquityLower = less leverage | — | 0.37× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $896.5M | ||
| Q4 25 | $509.0M | $896.5M | ||
| Q3 25 | $362.0M | $950.2M | ||
| Q2 25 | $844.0M | $613.8M | ||
| Q1 25 | $465.0M | $412.7M | ||
| Q4 24 | $103.0M | $969.3M | ||
| Q3 24 | $412.0M | $1.0B | ||
| Q2 24 | $699.0M | $1.6B |
| Q1 26 | — | $3.9B | ||
| Q4 25 | — | $6.3B | ||
| Q3 25 | — | $6.3B | ||
| Q2 25 | — | $6.3B | ||
| Q1 25 | — | $6.2B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.2B | ||
| Q2 24 | — | $7.0B |
| Q1 26 | — | $10.4B | ||
| Q4 25 | $9.1B | $10.2B | ||
| Q3 25 | $8.9B | $10.3B | ||
| Q2 25 | $8.4B | $13.4B | ||
| Q1 25 | $8.3B | $13.1B | ||
| Q4 24 | $8.2B | $13.1B | ||
| Q3 24 | $8.1B | $13.3B | ||
| Q2 24 | $8.0B | $13.2B |
| Q1 26 | — | $22.7B | ||
| Q4 25 | $39.9B | $22.7B | ||
| Q3 25 | $38.0B | $22.9B | ||
| Q2 25 | $37.7B | $26.8B | ||
| Q1 25 | $36.3B | $25.9B | ||
| Q4 24 | $35.9B | $26.1B | ||
| Q3 24 | $34.8B | $26.6B | ||
| Q2 24 | $34.4B | $27.4B |
| Q1 26 | — | 0.37× | ||
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.53× |
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 | — | $1.1B |
| FCF MarginFCF / Revenue | — | 36.5% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.65× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.5B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $478.0M | $540.7M | ||
| Q3 25 | $343.0M | $616.1M | ||
| Q2 25 | $414.0M | $718.3M | ||
| Q1 25 | $1.0B | $-90.7M | ||
| Q4 24 | $403.0M | $494.5M | ||
| Q3 24 | $304.0M | $521.2M | ||
| Q2 24 | $707.0M | $869.2M |
| Q1 26 | — | $1.1B | ||
| Q4 25 | — | $357.8M | ||
| Q3 25 | $-635.0M | $483.0M | ||
| Q2 25 | $-470.0M | $555.0M | ||
| Q1 25 | $112.0M | $-328.0M | ||
| Q4 24 | — | $383.4M | ||
| Q3 24 | $-502.0M | $350.4M | ||
| Q2 24 | $26.0M | $691.7M |
| Q1 26 | — | 36.5% | ||
| Q4 25 | — | 11.4% | ||
| Q3 25 | -32.2% | 13.9% | ||
| Q2 25 | -26.1% | 14.8% | ||
| Q1 25 | 4.7% | -12.2% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | -29.3% | 9.7% | ||
| Q2 24 | 1.6% | 18.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.9% | ||
| Q3 25 | 49.5% | 3.8% | ||
| Q2 25 | 49.2% | 4.4% | ||
| Q1 25 | 37.0% | 8.8% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | 47.1% | 4.7% | ||
| Q2 24 | 43.2% | 4.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.65× | 2.27× | ||
| Q3 25 | 1.24× | — | ||
| Q2 25 | 2.06× | 1.68× | ||
| Q1 25 | 3.29× | -0.75× | ||
| Q4 24 | 1.52× | 1.72× | ||
| Q3 24 | 1.20× | 2.61× | ||
| Q2 24 | 3.57× | 2.04× |
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% |
TAP
Segment breakdown not available.
