To the full analysis
CMS Energy stock: growth
CMSCMS Energy reported $8.54B in revenue for fiscal 2025, up 13.6% on the prior year, up 5.9% a year on average over up to five years.
Daily figure as of 13 Nov 2026
Revenue (Annual rate)
1.8%
per year from 2006 to 2025, per share 0.1%
Earnings (Annual rate)
no data
Free cash flow (Annual rate)
no data
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2015 | since 2006 | |
|---|---|---|---|
| Revenue | 5.9% | 2.8% | 1.8% |
| Revenue per share | 4.8% | 2.0% | 0.1% |
| Earnings | 7.2% | 7.4% | no data |
| Earnings per share | 5.9% | 6.4% | no data |
| Free cash flow | no data | no data | no data |
| Free cash flow per share | no data | no data | no data |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2006 | $6.13B | −$79M | $18M |
| 2007 | $6.46B | −$215M | −$1.35B |
| 2008 | $6.81B | $295M | −$233M |
| 2009 | $6.21B | $229M | $30M |
| 2010 | $6.43B | $340M | $138M |
| 2011 | $6.5B | $415M | $287M |
| 2012 | $6.25B | $382M | $14M |
| 2013 | $6.57B | $452M | $96M |
| 2014 | $7.18B | $477M | −$130M |
| 2015 | $6.46B | $523M | $76M |
| 2016 | $6.4B | $551M | −$43M |
| 2017 | $6.58B | $460M | $40M |
| 2018 | $6.87B | $657M | −$371M |
| 2019 | $6.62B | $680M | −$314M |
| 2020 | $6.42B | $755M | −$1.04B |
| 2021 | $7.33B | $1.35B | −$257M |
| 2022 | $8.6B | $837M | −$1.52B |
| 2023 | $7.46B | $887M | −$910M |
| 2024 | $7.52B | $1B | −$648M |
| 2025 | $8.54B | $1.07B | −$1.59B |
Revenue by segment
How CMS Energy Corporation makes its money and how that has shifted. Names are as the company reports them.
- Residential Utility Services51%
- Commercial Utility Service28%
- Industrial Utility Service10%
- Other11%
“Other” combines smaller and former segments with revenue the company does not assign to a segment. Names as reported, with abbreviations spelled out for the largest companies.
Figures as a table
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Residential Utility Services | $3.33B | $3.3B | $3.34B | $3.8B | $4.4B | $3.86B | $3.75B | $4.36B | 51.1% |
| Commercial Utility Service | $1.91B | $1.87B | $1.78B | $1.97B | $2.29B | $2.04B | $2.11B | $2.43B | 28.4% |
| Industrial Utility Service | $729M | $720M | $616M | $678M | $867M | $720M | $720M | $824M | 9.6% |
| Other | $899M | $726M | $680M | $884M | $1.04B | $848M | $934M | $927M | 10.9% |
| Total revenue | $6.87B | $6.62B | $6.42B | $7.33B | $8.6B | $7.46B | $7.52B | $8.54B | 100% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Weak since 11 Nov 2026, previously Neutral
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.