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StockVS

NYSE · Utilities - Regulated Electric · USD

CMS Energy Corporation (CMS) Stock Analysis

CMS Energy Corporation (CMS) is a Utilities - Regulated Electric stock listed on NYSE and quoted in US Dollar.

Last Updated: October 21, 2026

CMS

$68.13

−$0.29 (−0.42%)

Oct 21, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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CMS Key Statistics

As of Oct 21, 2026
Trading
Open
$68.65
Previous Close
$68.42
Day's Range
68.09–68.80
52-Week Range
62.29–80.36
Volume
3.14M
BetaHow much the share price moves relative to the wider market. 1.0 moves in line with it; above 1.0 swings more, below 1.0 less.
0.31
Valuation
Market Cap
$21.54B
P/E Ratio
20.63
Forward P/EShare price divided by forecast earnings for the year ahead, rather than the year just past.
16.54
PEG RatioThe P/E ratio divided by the expected earnings growth rate. It puts a high P/E in the context of how fast profits are growing.
2.48
P/S ratioMarket value divided by annual revenue. Useful for companies that are not yet profitable, where a P/E cannot be calculated.
2.44
EPS (ttm)Profit attributable to each share over the last twelve months.
3.33
Financials (FY)
Revenue (FY)
$8.54B+13.63%
Net Income (FY)
$1.07B+6.78%
Profit marginThe share of revenue left as profit after all costs and taxes.
11.64%
Shares OutstandingThe total number of shares held by all investors. Market value is this figure multiplied by the share price.
313.58M
1-Year Return
−5.74%
Dividend and dates
Dividend
$2.28+3.32%
Ex-Dividend Date
August 7, 2026
Earnings Date
October 27, 2026
Avg Volume
3.83M

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

Key facts

As of October 21, 2026, CMS closed at $68.13, −5.74% over 1 year.

CMS Energy Corporation (CMS) has a market capitalization of $21.54B.

In fiscal 2025, CMS reported revenue of $8.54B.

CMS Stock Return by Calendar Year

CMS Energy Corporation (CMS) 10-year return: what $10,000 became

1 year
$10,000 $9,426
−5.74%
5 years
$10,000 $13,087
+30.87%
10 years
$10,000 $22,292
+122.92%

If you had invested $10,000 in CMS Energy Corporation (CMS) 10 years ago, at the close on October 21, 2016, it would have been worth $22,292 at the close on October 21, 2026: +122.92% in total, +8.35% a year, with dividends reinvested. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

YearReturn
2026 (partial year)−0.28%
2025+8.13%
2024+18.60%
2023−5.21%
2022+0.18%
2021+9.71%
2020−0.31%
2019+30.04%
2018+8.25%
2017+17.03%
2016 (partial year)−3.71%

As of October 21, 2026.

CMS Revenue and Earnings by Fiscal Year

FY ends December
Fiscal yearRevenueNet incomeNet margin
2025$8.54B$1.07B12.5%
2024$7.52B$1.00B13.3%
2023$7.46B$887.00M11.9%
2022$8.60B$837.00M9.7%
Fiscal yearRevenueGross profitOperating incomeNet incomeNet margin
2025$8.54B$3.55B$1.73B$1.07B12.5%
2024$7.52B$3.21B$1.49B$1.00B13.3%
2023$7.46B$2.86B$1.24B$887.00M11.9%
2022$8.60B$2.76B$1.22B$837.00M9.7%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

CMS Dividend History

$2.17+5.4% vs 2024

Dividends per share, 2025 · 4 payments

YearDividends per sharePaymentsChange
2026*$1.713—
2025$2.174+5.4%
2024$2.064+5.5%
2023$1.954+6.1%
YearDividends per sharePaymentsChange
2026 (partial year)$1.713—
2025$2.174+5.4%
2024$2.064+5.5%
2023$1.954+6.1%
2022$1.844+5.7%
2021$1.744+6.6%
2020$1.634+6.5%
2019$1.534+7.0%
2018$1.434+7.5%
2017$1.334+329.7%
2016$0.311—

Most recent payment: $0.57 per share, ex-dividend August 7, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

CMS Valuation vs Utilities - Regulated Electric Median

Median of 42 stocks
MetricCMSUtilities - Regulated Electric medianvs median
P/E20.6319.943% above
P/S ratio2.442.7712% below
Profit margin11.64%13.40%1.8 pts below

Medians across 42 Utilities - Regulated Electric stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Recent News

All 20 articles ↓

News provided by third-party sources. Not financial advice.

Analysis

Data-derived

Company Overview

The market values CMS Energy Corporation (CMS) at $21.54B. It is classified in the Utilities - Regulated Electric industry, within the Utilities sector. Headcount on file is 8,350.

The 52-week range on file runs from $62.29 to $80.36. CMS last closed at $68.13 on October 21, 2026. That is −$0.29 (−0.42%) against the previous close. The latest close sits 9.38% above that 52-week low.

Financial Health

In fiscal 2025, CMS Energy Corporation reported revenue of $8.54B. That is +13.63% against the prior fiscal year, when revenue was $7.52B. The same year closed with net income of $1.07B. That is +6.78% against the prior fiscal year. Profit margin runs at 11.64%. That is 1.8 percentage points below the Utilities - Regulated Electric median of 13.4%. Earnings per share on a trailing basis come to 3.33.

Across the 4 fiscal years on file, revenue moves from $8.60B in 2022 to $8.54B in 2025. Of those 4 years, 4 report positive net income.

Valuation Assessment

CMS trades at a trailing price-to-earnings ratio of 20.63. That is 3.46% above the Utilities - Regulated Electric median of 19.94. The forward P/E on file is 16.54. The PEG ratio, which sets the P/E against expected earnings growth, reads 2.48. The price-to-sales ratio is 2.44. On price-to-sales that is 11.72% below the Utilities - Regulated Electric median of 2.77. 42 Utilities - Regulated Electric companies report these metrics, and the medians quoted come from that group.

The reported beta is 0.31. Daily returns over the trailing 10 years annualize to a volatility of 20.73%. The trailing one-year total return is −5.74%. Across 10 years the annualized return works out at +8.35%.

Growth & Income

Shareholders receive a dividend, yielding 3.32% on the latest price. That is 0.1 percentage points below the Utilities - Regulated Electric median yield of 3.43%. At the indicated rate that is $2.28 a share a year. The ex-dividend date on file is August 7, 2026. Dividends are recorded for 11 calendar years; 2026 shows 3 payments totalling $1.71 a share. The year before, 2025, totalled $2.17 a share.

Across the complete calendar years on file, 2019 returned +30.04% and 2023 returned −5.21%. Of the 9 complete calendar years on file, 7 finished higher. 2026 is still running; the total return is −0.28% year to date.

Peer Comparison

CMS Energy Corporation (CMS) operates in the Utilities - Regulated Electric industry. Here is how it compares to its closest peers by market capitalization:

Company Ticker Market Cap P/E Ratio
CMS Energy Corporation CMS $21.54B 20.6
NextEra Energy, Inc. NEE $163.29B 17.6
The Southern Company SO $103.98B 21.8
Duke Energy Corporation DUK $94.09B 18.2

The Utilities - Regulated Electric industry average P/E ratio is 19.9x. CMS Energy Corporation trades at a P/E of 20.6.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

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About CMS Energy Corporation

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and NorthStar Clean Energy. The Electric Utility segment is involved in the generation, purchase, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources. Its distribution system comprises 263 miles of high-voltage distribution overhead lines; 4 miles of high-voltage distribution underground lines; 4,619 miles of high-voltage distribution overhead lines; 18 miles of high-voltage distribution underground lines; 82,854 miles of electric distribution overhead lines; 10,027 miles of underground distribution lines; and 1,102 substations. The Gas Utility segment engages in the purchase, transmission, storage, distribution, and sale of natural gas, which includes 2,337 miles of transmission lines; 14 gas storage fields; 28,433 miles of distribution mains; and 8 compressor stations. The NorthStar Clean Energy segment is involved in the independent power production and marketing, including the development and operation of renewable generation. The company serves 1.9 million electric and 1.8 million gas customers, including residential, commercial, and diversified industrial customers. The company was incorporated in 1987 and is headquartered in Jackson, Michigan.

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