CMS Energy Corp. CMS
Slide the table for earlier years · "·" marks a figure not available in our data for that year.
What this company does
Written from the business description in CMS ENERGY CORP's annual report to the U.S. Securities and Exchange Commission, filed 10 February 2026. Every sentence was checked against that document before publication.
Growth
Revenue compounded at +5.9% a year over the five years to FY2025 — but profit grew faster: net income at +7.2%, earnings per share at +6.0%.
The share count rose from 0.29B to 0.31B over the period.
Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.
Profitability
Each USD of equity produced 12 cents of profit this year.
The 18-year record
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue $B | 8.5 | 7.5 | 7.5 | 8.6 | 7.3 | 6.4 | 6.6 | 6.9 | 6.6 | 6.4 | 6.5 | 7.2 | 6.6 | 6.3 | 6.5 | 6.4 | 6.2 | 6.8 |
| Operating income $B | 1.7 | 1.5 | 1.2 | 1.2 | 1.1 | 1.2 | 1.1 | 1.2 | 1.3 | 1.3 | 1.2 | 1.2 | 1.1 | 1.0 | 1.0 | 1.0 | 0.7 | 0.8 |
| EBITDA $B | 3.0 | 2.7 | 2.4 | 2.4 | 2.3 | 2.3 | 2.1 | 2.1 | 2.2 | 2.1 | 1.9 | 1.8 | 1.8 | 1.6 | 1.5 | 1.6 | 1.3 | 1.4 |
| Income tax $B | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.4 | 0.3 | 0.3 | 0.2 | 0.3 | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 |
| Net income $B | 1.1 | 1.0 | 0.9 | 0.8 | 1.4 | 0.8 | 0.7 | 0.7 | 0.5 | 0.6 | 0.5 | 0.5 | 0.5 | 0.4 | 0.4 | 0.3 | 0.2 | 0.3 |
| Free cash flow $B | ◌ | ◌ | ◌ | −1.5 | −0.3 | −1.0 | −0.3 | −0.4 | 0.0 | −0.0 | 0.1 | −0.1 | 0.1 | 0.0 | 0.3 | 0.1 | 0.0 | −0.2 |
| EPS, diluted $ | 3.53 | 3.33 | 3.01 | 2.85 | 4.66 | 2.64 | 2.39 | 2.32 | 1.64 | 1.98 | 1.89 | 1.74 | 1.66 | 1.42 | 1.58 | 1.28 | 0.91 | 1.20 |
| Dividend / sh $ | 2.17 | 2.06 | 1.95 | 1.84 | 1.74 | 1.63 | 1.53 | 1.43 | 1.33 | 1.24 | 1.16 | 1.08 | 1.02 | 0.96 | 0.84 | 0.66 | 0.50 | 0.36 |
| Payout % | — | — | — | — | — | — | — | — | — | — | — | — | — | 66 | 51 | 48 | 50 | 28 |
| ROE % | 12.3 | 12.7 | 12.2 | 12.3 | 22.3 | 14.4 | 13.9 | 14.3 | 10.6 | 13.5 | 13.7 | 13.4 | 13.6 | 12.3 | 14.3 | 12.6 | 8.8 | ◌ |
| Shares out B | 0.31 | 0.30 | 0.29 | 0.29 | 0.29 | 0.29 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.27 | 0.26 | 0.25 | 0.25 | 0.23 | ◌ |
Slide the table for earlier years. "—" not applicable · "◌" not available in our data.
Company facts, as filed
Reconciled in 18 of the 18 fiscal years we could check. Four checks were skipped: the balance sheet is not tagged before 2009. Two checks were skipped: the share count is not tagged before 2009.