CMS financials
CMS Energy Corporation · end-of-day data as of Oct 16, 2026
CMS Energy Corporation
$68.70-7.3%
Buy · 15 analystsPT $78.02 +13.6%
CMS reported revenue of $1.83B for the quarter ended Jun 30, 2026 (Q2 FY2026), down 0.5% from a year earlier. It posted diluted EPS of $0.39, free cash flow of -$345M and a net margin of 6.6%.
Valuation
- P/E20.3x
- P/E vs own-4.1%
- P/E vs sector-2.3%
- FCF yield-8.9%
- Market cap$21.54B
Quarterly results
Q2 FY2026: Revenue -0.5% year over year, free cash flow -18.9% of revenue, operating margin 14.4%.
RevenueFree cash flow
| Q2 FY2026 | Jun 30, 2026 | $1.83B | 0.39 | -$345M | 63.1% | 14.4% | 6.6% |
| Q1 FY2026 | Mar 31, 2026 | $2.73B | 1.13 | -$334M | 56.5% | 17.9% | 12.5% |
| Q4 FY2025 | Dec 31, 2025 | $2.23B | 0.94 | -$596M | 127.9% | 19.5% | 12.9% |
| Q3 FY2025 | Sep 30, 2025 | $2.02B | 0.92 | -$635M | 29.1% | 23.8% | 13.7% |
| Q2 FY2025 | Jun 30, 2025 | $1.84B | 0.66 | -$470M | 38.8% | 17.2% | 10.9% |
| Q1 FY2025 | Mar 31, 2025 | $2.45B | 1.01 | $112M | 42.7% | 20.2% | 12.4% |
| Q4 FY2024 | Dec 31, 2024 | $1.99B | 0.88 | -$515M | 44.1% | 21.4% | 13.3% |
| Q3 FY2024 | Sep 30, 2024 | $1.74B | 0.84 | -$502M | 42.4% | 21.1% | 14.5% |
| Q2 FY2024 | Jun 30, 2024 | $1.61B | 0.65 | $26M | 40.9% | 17.6% | 12.3% |
| Q1 FY2024 | Mar 31, 2024 | $2.18B | 0.96 | $343M | 43.0% | 18.9% | 13.2% |
| Q4 FY2023 | Dec 31, 2023 | $1.95B | 1.04 | -$203M | 42.7% | 20.8% | 15.8% |
| Q3 FY2023 | Sep 30, 2023 | $1.67B | 0.60 | -$415M | 37.3% | 16.2% | 10.5% |