Cms Energy revenue and financials
$64.03Change from previous close: +0.45%Absolute change: +$0.29
In the fiscal year ended December 2025, Cms Energy reported revenue of $8.54B (+13.63% year over year). Net income was $1.07B, a net margin of 12.5%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +13.63%
- 2025 vs 2024
- Net income growth
- +6.78%
- 2025 vs 2024
- Net margin
- 12.5%
- 2024: 13.3%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 622 | 705 | 478 | 343 | 414 | 1,000 | 403 | 304 | 707 | 956 | 405 | 199 |
| Depreciation and amortization | 320 | 400 | 342 | 288 | 301 | — | — | — | — | — | — | — |
| Capital expenditure | -967 | -1,039 | -1,074 | -978 | -884 | -888 | -918 | -806 | -681 | -613 | -608 | -614 |
| Investing cash flow | -1,020 | -1,073 | -1,112 | -1,046 | -962 | -918 | -953 | -855 | -609 | -637 | -649 | -658 |
| Financing cash flow | 480 | 16.0 | 817 | 210 | 947 | 266 | 261 | 229 | -170 | 294 | 308 | 237 |
| Dividends paid | -180 | -178 | -167 | -165 | -165 | -166 | — | — | -158 | -156 | — | — |
| Share repurchases | — | — | — | — | — | 0.0 | — | — | — | — | — | — |
| Debt issued | 909 | 258 | 1,098 | 62.0 | 1,249 | 1,200 | 515 | 743 | 105 | 599 | 492 | 727 |
| Debt repaid | -679 | -204 | -266 | -43.0 | -124 | -782 | -98.0 | -356 | -114 | -412 | -286 | -361 |
| Net change in cash | 82.0 | -352 | 183 | -493 | 399 | 348 | -289 | -322 | -72.0 | 613 | 64.0 | -222 |
| Free cash flow | -345 | -334 | -596 | -635 | -470 | 112 | -515 | -502 | 26.0 | 343 | -203 | -415 |
| Levered free cash flow | -414 | -665 | -415 | -703 | -376 | -252 | -212 | -469 | -81.4 | -42.6 | -27.3 | -512 |