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Side-by-side financial comparison of CMS Energy (CMS) and MARRIOTT VACATIONS WORLDWIDE Corp (VAC). Click either name above to swap in a different company.
CMS Energy is the larger business by last-quarter revenue ($2.1B vs $1.2B, roughly 1.7× MARRIOTT VACATIONS WORLDWIDE Corp). CMS Energy runs the higher net margin — 13.5% vs -35.0%, a 48.6% gap on every dollar of revenue. On growth, CMS Energy posted the faster year-over-year revenue change (13.0% vs -0.7%). Over the past eight quarters, MARRIOTT VACATIONS WORLDWIDE Corp's revenue compounded faster (5.2% 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.
Marriott Vacations Worldwide Corporation is a pure-play public timeshare company. Formerly a division of Marriott International, Marriott Vacations Worldwide was established as a separate, publicly traded entity focusing primarily on vacation ownership in November 2011. Marriott Vacations Worldwide runs more than 120 resorts with over 700,000 Owners and members in a diverse portfolio of brands under The Marriott Vacation Clubs name. Its brands include Marriott Vacation Club, The Marriott Vaca...
CMS vs VAC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.2B |
| Net Profit | $289.0M | $-431.0M |
| Gross Margin | — | — |
| Operating Margin | 20.4% | — |
| Net Margin | 13.5% | -35.0% |
| Revenue YoY | 13.0% | -0.7% |
| Net Profit YoY | 9.1% | -962.0% |
| EPS (diluted) | $0.94 | $-12.00 |
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 | $1.2B | ||
| Q3 25 | $2.0B | $1.2B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $2.4B | $1.1B | ||
| Q4 24 | $1.9B | $1.2B | ||
| Q3 24 | $1.7B | $1.2B | ||
| Q2 24 | $1.6B | $1.1B | ||
| Q1 24 | $2.1B | $1.1B |
| Q4 25 | $289.0M | $-431.0M | ||
| Q3 25 | $277.0M | $-2.0M | ||
| Q2 25 | $201.0M | $69.0M | ||
| Q1 25 | $304.0M | $56.0M | ||
| Q4 24 | $265.0M | $50.0M | ||
| Q3 24 | $253.0M | $84.0M | ||
| Q2 24 | $198.0M | $37.0M | ||
| Q1 24 | $287.0M | $47.0M |
| Q4 25 | 20.4% | — | ||
| Q3 25 | 24.4% | — | ||
| Q2 25 | 17.6% | — | ||
| Q1 25 | 20.6% | — | ||
| Q4 24 | 22.5% | — | ||
| Q3 24 | 21.4% | — | ||
| Q2 24 | 18.0% | — | ||
| Q1 24 | 19.2% | — |
| Q4 25 | 13.5% | -35.0% | ||
| Q3 25 | 14.0% | -0.2% | ||
| Q2 25 | 11.2% | 6.0% | ||
| Q1 25 | 12.7% | 5.0% | ||
| Q4 24 | 14.0% | 4.0% | ||
| Q3 24 | 14.8% | 6.9% | ||
| Q2 24 | 12.6% | 3.5% | ||
| Q1 24 | 13.4% | 4.2% |
| Q4 25 | $0.94 | $-12.00 | ||
| Q3 25 | $0.92 | $-0.07 | ||
| Q2 25 | $0.66 | $1.77 | ||
| Q1 25 | $1.01 | $1.46 | ||
| Q4 24 | $0.88 | $1.29 | ||
| Q3 24 | $0.84 | $2.12 | ||
| Q2 24 | $0.65 | $0.98 | ||
| Q1 24 | $0.96 | $1.22 |
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 | $406.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $9.1B | $2.0B |
| Total Assets | $39.9B | $9.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $509.0M | $406.0M | ||
| Q3 25 | $362.0M | $474.0M | ||
| Q2 25 | $844.0M | $205.0M | ||
| Q1 25 | $465.0M | $196.0M | ||
| Q4 24 | $103.0M | $197.0M | ||
| Q3 24 | $412.0M | $197.0M | ||
| Q2 24 | $699.0M | $206.0M | ||
| Q1 24 | $802.0M | $237.0M |
| Q4 25 | $9.1B | $2.0B | ||
| Q3 25 | $8.9B | $2.5B | ||
| Q2 25 | $8.4B | $2.5B | ||
| Q1 25 | $8.3B | $2.4B | ||
| Q4 24 | $8.2B | $2.4B | ||
| Q3 24 | $8.1B | $2.4B | ||
| Q2 24 | $8.0B | $2.4B | ||
| Q1 24 | $7.9B | $2.4B |
| Q4 25 | $39.9B | $9.8B | ||
| Q3 25 | $38.0B | $10.1B | ||
| Q2 25 | $37.7B | $9.9B | ||
| Q1 25 | $36.3B | $9.9B | ||
| Q4 24 | $35.9B | $9.8B | ||
| Q3 24 | $34.8B | $9.7B | ||
| Q2 24 | $34.4B | $9.6B | ||
| Q1 24 | $33.9B | $9.9B |
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 | $6.0M |
| Free Cash FlowOCF − Capex | — | $-6.0M |
| FCF MarginFCF / Revenue | — | -0.5% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | 1.65× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $478.0M | $6.0M | ||
| Q3 25 | $343.0M | $62.0M | ||
| Q2 25 | $414.0M | $-48.0M | ||
| Q1 25 | $1.0B | $8.0M | ||
| Q4 24 | $403.0M | $100.0M | ||
| Q3 24 | $304.0M | $72.0M | ||
| Q2 24 | $707.0M | $30.0M | ||
| Q1 24 | $956.0M | $3.0M |
| Q4 25 | — | $-6.0M | ||
| Q3 25 | $-635.0M | $51.0M | ||
| Q2 25 | $-470.0M | $-68.0M | ||
| Q1 25 | $112.0M | $-6.0M | ||
| Q4 24 | — | $86.0M | ||
| Q3 24 | $-502.0M | $58.0M | ||
| Q2 24 | $26.0M | $17.0M | ||
| Q1 24 | $343.0M | $-13.0M |
| Q4 25 | — | -0.5% | ||
| Q3 25 | -32.2% | 4.3% | ||
| Q2 25 | -26.1% | -5.9% | ||
| Q1 25 | 4.7% | -0.5% | ||
| Q4 24 | — | 6.9% | ||
| Q3 24 | -29.3% | 4.8% | ||
| Q2 24 | 1.6% | 1.6% | ||
| Q1 24 | 16.0% | -1.2% |
| Q4 25 | — | 1.0% | ||
| Q3 25 | 49.5% | 0.9% | ||
| Q2 25 | 49.2% | 1.7% | ||
| Q1 25 | 37.0% | 1.3% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | 47.1% | 1.1% | ||
| Q2 24 | 43.2% | 1.2% | ||
| Q1 24 | 28.6% | 1.4% |
| Q4 25 | 1.65× | — | ||
| Q3 25 | 1.24× | — | ||
| Q2 25 | 2.06× | -0.70× | ||
| Q1 25 | 3.29× | 0.14× | ||
| Q4 24 | 1.52× | 2.00× | ||
| Q3 24 | 1.20× | 0.86× | ||
| Q2 24 | 3.57× | 0.81× | ||
| Q1 24 | 3.33× | 0.06× |
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% |
VAC
| Cost Reimbursement | $467.0M | 38% |
| Time Share | $381.0M | 31% |
| Management And Exchange | $212.0M | 17% |
| Ancillary Revenues | $64.0M | 5% |
| Management Service | $55.0M | 4% |
| Service Other | $36.0M | 3% |
