(CMS) CMS Energy - Overview
Exchange: NYSE •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US1258961002
Stock: Electricity, Natural Gas, Renewable Generation
Total Rating 38
Risk 67
Buy Signal 0.37
| Risk 5d forecast | |
|---|---|
| Volatility | 15.5% |
| Relative Tail Risk | 3.01% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.32 |
| Alpha | 4.82 |
| Character TTM | |
|---|---|
| Beta | -0.022 |
| Beta Downside | 0.094 |
| Drawdowns 3y | |
|---|---|
| Max DD | 19.61% |
| CAGR/Max DD | 0.66 |
EPS (Earnings per Share)
Revenue
Description: CMS CMS Energy February 27, 2026
CMS Energy Corp. (NYSE: CMS) is a Michigan-based utility that serves roughly 1.9 million electric and 1.8 million natural-gas customers through three operating segments: Electric Utility, Gas Utility, and NorthStar Clean Energy, which focuses on independent renewable power generation and marketing.
In its most recent fiscal year (2023), CMS reported revenue of about $8.5 billion and adjusted earnings per share of $1.01, while capital expenditures reached $1.2 billion, with roughly 30% allocated to expanding wind and solar assets. The company now operates over 2,200 MW of renewable generation capacity, up from 1,500 MW at the end of 2021.
Key drivers of CMS’s performance include Michigan’s steady population growth (≈1.2% annual) that fuels electric demand, the volatility of natural-gas prices that impacts the Gas Utility segment’s margins, and the state’s Renewable Portfolio Standard, which requires utilities to source 15% of electricity from renewables by 2025-pressuring further clean-energy investment.
For a deeper dive into CMS’s valuation, you might explore the analysis on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 3.0
| Net Income: 1.07b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.04 > 0.02 and ΔFCF/TA -2.22 > 1.0 |
| NWC/Revenue: -0.89% < 20% (prev -9.73%; Δ 8.84% < -1%) |
| CFO/TA 0.10 > 3% & CFO 3.99b > Net Income 1.07b |
| Net Debt (18.28b) to EBITDA (3.19b): 5.74 < 3 |
| Current Ratio: 0.98 > 1.5 & < 3 |
| Outstanding Shares: last quarter (300.6m) vs 12m ago 0.60% < -2% |
| Gross Margin: 60.91% > 18% (prev 0.43%; Δ 6048 % > 0.5%) |
| Asset Turnover: 22.38% > 50% (prev 20.92%; Δ 1.46% > 0%) |
| Interest Coverage Ratio: 2.58 > 6 (EBITDA TTM 3.19b / Interest Expense TTM 789.0m) |
Altman Z'' 0.63
| A: -0.00 (Total Current Assets 3.47b - Total Current Liabilities 3.55b) / Total Assets 40.39b |
| B: 0.06 (Retained Earnings 2.44b / Total Assets 40.39b) |
| C: 0.05 (EBIT TTM 2.04b / Avg Total Assets 38.15b) |
| D: 0.08 (Book Value of Equity 2.41b / Total Liabilities 30.68b) |
| Altman-Z'' Score: 0.63 = B |
Beneish M -3.21
| DSRI: 1.10 (Receivables 1.32b/1.06b, Revenue 8.54b/7.51b) |
| GMI: 0.70 (GM 60.91% / 42.70%) |
| AQI: 0.98 (AQ_t 0.15 / AQ_t-1 0.16) |
| SGI: 1.14 (Revenue 8.54b / 7.51b) |
| TATA: -0.07 (NI 1.07b - CFO 3.99b) / TA 40.39b) |
| Beneish M-Score: -3.21 (Cap -4..+1) = AA |
What is the price of CMS shares?
As of February 28, 2026, the stock is trading at USD 77.05 with a total of 3,548,633 shares traded.
Over the past week, the price has changed by +1.58%, over one month by +8.52%, over three months by +3.13% and over the past year by +8.44%.
Over the past week, the price has changed by +1.58%, over one month by +8.52%, over three months by +3.13% and over the past year by +8.44%.
Is CMS a buy, sell or hold?
CMS Energy has received a consensus analysts rating of 3.79.
Therefor, it is recommend to hold CMS.
- StrongBuy: 6
- Buy: 4
- Hold: 8
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the CMS price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 78.1 | 1.3% |
| Analysts Target Price | 78.1 | 1.3% |
CMS Fundamental Data Overview February 21, 2026
P/E Trailing = 21.4873
P/E Forward = 19.9203
P/S = 2.7219
P/B = 2.6362
P/EG = 2.6577
Revenue TTM = 8.54b USD
EBIT TTM = 2.04b USD
EBITDA TTM = 3.19b USD
Long Term Debt = 18.90b USD (from longTermDebt, last quarter)
Short Term Debt = 959.0m USD (from shortTermDebt, last quarter)
Debt = 18.90b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 18.28b USD (from netDebt column, last quarter)
Enterprise Value = 41.63b USD (23.24b + Debt 18.90b - CCE 509.0m)
Interest Coverage Ratio = 2.58 (Ebit TTM 2.04b / Interest Expense TTM 789.0m)
EV/FCF = -25.59x (Enterprise Value 41.63b / FCF TTM -1.63b)
FCF Yield = -3.91% (FCF TTM -1.63b / Enterprise Value 41.63b)
FCF Margin = -19.05% (FCF TTM -1.63b / Revenue TTM 8.54b)
Net Margin = 12.54% (Net Income TTM 1.07b / Revenue TTM 8.54b)
Gross Margin = 60.91% ((Revenue TTM 8.54b - Cost of Revenue TTM 3.34b) / Revenue TTM)
Gross Margin QoQ = none% (prev 29.09%)
Tobins Q-Ratio = 1.03 (Enterprise Value 41.63b / Total Assets 40.39b)
Interest Expense / Debt = 1.06% (Interest Expense 200.0m / Debt 18.90b)
Taxrate = 17.97% (53.0m / 295.0m)
NOPAT = 1.67b (EBIT 2.04b * (1 - 17.97%))
Current Ratio = 0.98 (Total Current Assets 3.47b / Total Current Liabilities 3.55b)
Debt / Equity = 2.07 (Debt 18.90b / totalStockholderEquity, last quarter 9.14b)
Debt / EBITDA = 5.74 (Net Debt 18.28b / EBITDA 3.19b)
Debt / FCF = -11.24 (negative FCF - burning cash) (Net Debt 18.28b / FCF TTM -1.63b)
Total Stockholder Equity = 8.68b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.81% (Net Income 1.07b / Total Assets 40.39b)
RoE = 12.33% (Net Income TTM 1.07b / Total Stockholder Equity 8.68b)
RoCE = 7.39% (EBIT 2.04b / Capital Employed (Equity 8.68b + L.T.Debt 18.90b))
RoIC = 6.35% (NOPAT 1.67b / Invested Capital 26.33b)
WACC = 3.60% (E(23.24b)/V(42.14b) * Re(5.83%) + D(18.90b)/V(42.14b) * Rd(1.06%) * (1-Tc(0.18)))
Discount Rate = 5.83% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 1.04%
[DCF] Fair Price = unknown (Cash Flow -1.63b)
EPS Correlation: 38.03 | EPS CAGR: -6.04% | SUE: -0.09 | # QB: 0
Revenue Correlation: -5.26 | Revenue CAGR: -1.62% | SUE: 1.16 | # QB: 1
EPS next Quarter (2026-03-31): EPS=1.08 | Chg7d=+0.041 | Chg30d=+0.046 | Revisions Net=+0 | Analysts=7
EPS current Year (2026-12-31): EPS=3.87 | Chg7d=+0.015 | Chg30d=+0.016 | Revisions Net=+8 | Growth EPS=+7.2% | Growth Revenue=+0.1%
EPS next Year (2027-12-31): EPS=4.17 | Chg7d=+0.021 | Chg30d=+0.015 | Revisions Net=+4 | Growth EPS=+7.8% | Growth Revenue=+5.9%
[Analyst] Revisions Ratio: +0.00 (2 Up / 2 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 3.3% (Discount Rate 7.9% - Earnings Yield 4.7%)
[Growth] Growth Spread = +0.3% (Analyst 3.6% - Implied 3.3%)
P/E Forward = 19.9203
P/S = 2.7219
P/B = 2.6362
P/EG = 2.6577
Revenue TTM = 8.54b USD
EBIT TTM = 2.04b USD
EBITDA TTM = 3.19b USD
Long Term Debt = 18.90b USD (from longTermDebt, last quarter)
Short Term Debt = 959.0m USD (from shortTermDebt, last quarter)
Debt = 18.90b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 18.28b USD (from netDebt column, last quarter)
Enterprise Value = 41.63b USD (23.24b + Debt 18.90b - CCE 509.0m)
Interest Coverage Ratio = 2.58 (Ebit TTM 2.04b / Interest Expense TTM 789.0m)
EV/FCF = -25.59x (Enterprise Value 41.63b / FCF TTM -1.63b)
FCF Yield = -3.91% (FCF TTM -1.63b / Enterprise Value 41.63b)
FCF Margin = -19.05% (FCF TTM -1.63b / Revenue TTM 8.54b)
Net Margin = 12.54% (Net Income TTM 1.07b / Revenue TTM 8.54b)
Gross Margin = 60.91% ((Revenue TTM 8.54b - Cost of Revenue TTM 3.34b) / Revenue TTM)
Gross Margin QoQ = none% (prev 29.09%)
Tobins Q-Ratio = 1.03 (Enterprise Value 41.63b / Total Assets 40.39b)
Interest Expense / Debt = 1.06% (Interest Expense 200.0m / Debt 18.90b)
Taxrate = 17.97% (53.0m / 295.0m)
NOPAT = 1.67b (EBIT 2.04b * (1 - 17.97%))
Current Ratio = 0.98 (Total Current Assets 3.47b / Total Current Liabilities 3.55b)
Debt / Equity = 2.07 (Debt 18.90b / totalStockholderEquity, last quarter 9.14b)
Debt / EBITDA = 5.74 (Net Debt 18.28b / EBITDA 3.19b)
Debt / FCF = -11.24 (negative FCF - burning cash) (Net Debt 18.28b / FCF TTM -1.63b)
Total Stockholder Equity = 8.68b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.81% (Net Income 1.07b / Total Assets 40.39b)
RoE = 12.33% (Net Income TTM 1.07b / Total Stockholder Equity 8.68b)
RoCE = 7.39% (EBIT 2.04b / Capital Employed (Equity 8.68b + L.T.Debt 18.90b))
RoIC = 6.35% (NOPAT 1.67b / Invested Capital 26.33b)
WACC = 3.60% (E(23.24b)/V(42.14b) * Re(5.83%) + D(18.90b)/V(42.14b) * Rd(1.06%) * (1-Tc(0.18)))
Discount Rate = 5.83% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 1.04%
[DCF] Fair Price = unknown (Cash Flow -1.63b)
EPS Correlation: 38.03 | EPS CAGR: -6.04% | SUE: -0.09 | # QB: 0
Revenue Correlation: -5.26 | Revenue CAGR: -1.62% | SUE: 1.16 | # QB: 1
EPS next Quarter (2026-03-31): EPS=1.08 | Chg7d=+0.041 | Chg30d=+0.046 | Revisions Net=+0 | Analysts=7
EPS current Year (2026-12-31): EPS=3.87 | Chg7d=+0.015 | Chg30d=+0.016 | Revisions Net=+8 | Growth EPS=+7.2% | Growth Revenue=+0.1%
EPS next Year (2027-12-31): EPS=4.17 | Chg7d=+0.021 | Chg30d=+0.015 | Revisions Net=+4 | Growth EPS=+7.8% | Growth Revenue=+5.9%
[Analyst] Revisions Ratio: +0.00 (2 Up / 2 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 3.3% (Discount Rate 7.9% - Earnings Yield 4.7%)
[Growth] Growth Spread = +0.3% (Analyst 3.6% - Implied 3.3%)