CMS Energy Corp
CMSC- Exchange
- NYSE
- Industry
- Electric & Other Services Combined
- SEC CIK
- 0000811156
No open-market purchases or sales by CMS Energy Corp insiders were filed in the last 90 days; no institution reported holding it in 13F filings for Q2 2026; no superinvestor holds it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Nov 3, 2026, 1:10 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 5, 2026 | Feb 6, 2025 | Feb 1, 2024 | Feb 2, 2023 | Feb 3, 2022 |
| Revenue | $8.54B | $7.51B | $7.46B | $8.60B | $7.33B |
| Operating income | $1.73B | $1.49B | $1.24B | $1.22B | $1.15B |
| Interest expense | $798.0M | $700.0M | $643.0M | $519.0M | $500.0M |
| Income tax | $246.0M | $176.0M | $147.0M | $93.0M | $95.0M |
| Net income | $1.07B | $1.00B | $887.0M | $837.0M | $1.35B |
| EPS, basic | $3.53 | $3.34 | $3.01 | $2.85 | $4.66 |
| EPS, diluted | $3.53 | $3.33 | $3.01 | $2.85 | $4.66 |
| Weighted shares, basic | 300.4M | 297.6M | 291.2M | 289.5M | 289.0M |
| Weighted shares, diluted | 301.0M | 298.3M | 291.7M | 290.0M | 289.5M |
| Margins and growth | |||||
| Operating margin | 20.2% | 19.8% | 16.6% | 14.2% | 15.6% |
| Net margin | 12.5% | 13.3% | 11.9% | 9.7% | 18.5% |
| Revenue growth, year over year | +13.6% | +0.7% | −13.2% | +17.3% | +9.7% |
| Net income growth, year over year | +6.8% | +13.1% | +6.0% | −38.1% | +79.2% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 5, 2026 | Feb 6, 2025 | Feb 1, 2024 | Feb 2, 2023 | Feb 3, 2022 |
| Cash and equivalents | $509.0M | $103.0M | $227.0M | $164.0M | $452.0M |
| Accounts receivable | – | – | – | $1.56B | $931.0M |
| Total current assets | $3.47B | $2.79B | $2.84B | $3.43B | $2.63B |
| Property, plant and equipment | $30.7B | $27.5B | $25.1B | $22.7B | $22.4B |
| Total assets | $39.9B | $35.9B | $33.5B | $31.4B | $28.8B |
| Accounts payable | – | – | – | $928.0M | $875.0M |
| Short-term debt | $950.0M | $1.19B | $975.0M | $1.09B | $373.0M |
| Total current liabilities | $3.55B | $3.52B | $2.90B | $2.98B | $2.20B |
| Long-term debt | $17.8B | $15.2B | $14.5B | $13.1B | $12.0B |
| Shareholders' equity | $9.71B | $8.75B | $8.13B | $7.59B | $7.19B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 5, 2026 | Feb 6, 2025 | Feb 1, 2024 | Feb 2, 2023 | Feb 3, 2022 |
| Operating cash flow | $2.23B | $2.37B | $2.31B | $855.0M | $1.82B |
| Capital expenditures | – | – | – | $2.37B | $2.08B |
| Free cash flow | – | – | – | -$1.52B | -$257.0M |
| Depreciation and amortization | $1.31B | $1.24B | $1.18B | $1.13B | $1.11B |
| Investing cash flow | -$4.04B | -$3.05B | -$3.39B | -$2.48B | -$1.23B |
| Financing cash flow | $2.24B | $614.0M | $1.14B | $1.33B | -$295.0M |
| Net change in cash | $437.0M | -$70.0M | $66.0M | -$294.0M | $291.0M |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Jul 13, 2026 | 313.6M | +4.8% | SEC |
| Apr 13, 2026 | 308.9M | +3.3% | SEC |
| Jan 16, 2026 | 306.4M | +2.6% | SEC |
| Oct 13, 2025 | 304.3M | +1.9% | SEC |
| Jul 14, 2025 | 299.3M | +0.2% | SEC |
| Apr 7, 2025 | 299.1M | +0.2% | SEC |
| Jan 17, 2025 | 298.8M | +1.5% | SEC |
| Oct 14, 2024 | 298.8M | +2.4% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.