— Fundamental Stock Analysis and Report Card
Located in Jackson, MI, US. 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.
Revenue, earnings and profitability.
Strong revenue growth and earnings can attract investors, driving the stock price up. Profitability indicates the company's efficiency and sustainability, which impacts investor confidence. Poor performance in these areas can lead to a decrease in stock price.
Revenue History
Earnings History
Margins
Income & Cash Flow analysis.
An income statement shows what a company earned and spent over a period — revenue at the top, costs and expenses in between, and net income at the bottom. A cash flow statement tracks the actual cash moving in and out, across operations, investing, and financing. Read together, they show whether reported earnings are backed by real cash.
Q1 2026 Total ($) | Q1 2026 Margin (%) | |
|---|---|---|
| Revenue | 2.7b +283.0m +11.6% | |
| Gross Income | 1.5b +499.0m +47.8% | 57% +13.9pp +32.5% |
| EBITDA | 977.0m +44.0m +4.7% | 36% -2.3pp -6.1% |
| Operating Income | 490.0m -4.0m -0.8% | 18% -2.2pp -11.1% |
| Net Income | 340.0m +36.0m +11.8% | 12% +0.0pp +0.2% |
| Earnings Per Share | 1.13 +0.1 +11.9% | |
| Operating Cash Flow | 705.0m -295.0m -29.5% | 26% -15.0pp -36.8% |
| Free Cash Flow | -334.0m -446.0m -398.2% | -12% -16.8pp -367.3% |
| Research & Development | n/a n/a n/a | n/a n/a n/a |
What are the analysts saying?
Analyst Consensus aggregates Wall Street recommendations into buy/hold/sell counts, while the Fundamental Scorecard grades the company on six financial ratios (P/B, P/E, D/E, ROA, ROE, DCF) plus an overall score. The two measure different things and can point in different directions.