(CMS) CMS Energy - Ratings and Ratios
Electricity, Natural Gas, Renewable Energy
EPS (Earnings per Share)
Revenue
| Risk via 10d forecast | |
|---|---|
| Volatility | 16.7% |
| Value at Risk 5%th | 28.3% |
| Relative Tail Risk | 2.94% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.52 |
| Alpha | 8.47 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.347 |
| Beta | 0.104 |
| Beta Downside | 0.135 |
| Drawdowns 3y | |
|---|---|
| Max DD | 20.77% |
| Mean DD | 5.40% |
| Median DD | 5.24% |
Description: CMS CMS Energy October 16, 2025
CMS Energy (NYSE:CMS) is a Michigan-based utility that runs three regulated segments: Electric Utility, Gas Utility, and NorthStar Clean Energy. The Electric Utility generates and delivers power from a mix of coal, natural gas, wind, solar, oil and nuclear assets, operating an extensive distribution network that includes roughly 81,900 miles of overhead lines, 9,800 miles of underground lines, and over 1,000 substations. The Gas Utility purchases, transports, stores, and distributes natural gas across 2,342 miles of transmission pipelines, 28,400 miles of distribution mains, and 15 underground storage fields. NorthStar Clean Energy focuses on independent power production, primarily renewable projects, and markets that output to both wholesale and retail customers.
As of FY 2023, CMS reported revenue of about $8.3 billion and a regulated rate base near $15 billion, supporting a dividend yield of roughly 3.5 % and a return on equity in the high-single-digits-metrics that are typical for multi-utility firms. Key economic drivers include Michigan’s modest but steady electricity demand growth (~1 % YoY), the state’s aggressive clean-energy standards that push the utility toward a 30 % renewable mix by 2025, and natural-gas price volatility that directly affects the Gas Utility’s margin profile. Capital expenditures are expected to stay above $1 billion annually as CMS upgrades aging infrastructure and expands its renewable portfolio.
If you want a data-rich, side-by-side comparison of CMS’s financial health, ESG scores, and valuation multiples, the ValueRay platform offers the granular analytics that can help you evaluate the stock’s risk-adjusted upside.
CMS Stock Overview
| Market Cap in USD | 22,501m |
| Sub-Industry | Multi-Utilities |
| IPO / Inception | 1984-12-31 |
| Return 12m vs S&P 500 | -1.63% |
| Analyst Rating | 3.79 of 5 |
CMS Dividends
| Metric | Value |
|---|---|
| Dividend Yield | 2.92% |
| Yield on Cost 5y | 4.13% |
| Yield CAGR 5y | 6.03% |
| Payout Consistency | 84.7% |
| Payout Ratio | 61.5% |
CMS Growth Ratios
| Metric | Value |
|---|---|
| CAGR 3y | 10.84% |
| CAGR/Max DD Calmar Ratio | 0.52 |
| CAGR/Mean DD Pain Ratio | 2.01 |
| Current Volume | 1875.4k |
| Average Volume | 2172.1k |
Piotroski VR‑10 (Strict, 0-10) 3.0
| Net Income (1.05b TTM) > 0 and > 6% of Revenue (6% = 497.7m TTM) |
| FCFTA -0.04 (>2.0%) and ΔFCFTA -3.00pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -3.70% (prev 6.85%; Δ -10.55pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.06 (>3.0%) and CFO 2.16b > Net Income 1.05b (YES >=105%, WARN >=100%) |
| Net Debt (17.71b) to EBITDA (3.33b) ratio: 5.32 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.90 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (300.4m) change vs 12m ago 0.54% (target <= -2.0% for YES) |
| Gross Margin 38.85% (prev 42.34%; Δ -3.48pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 22.78% (prev 21.47%; Δ 1.31pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 2.64 (EBITDA TTM 3.33b / Interest Expense TTM 769.0m) >= 6 (WARN >= 3) |
Altman Z'' 0.60
| (A) -0.01 = (Total Current Assets 2.75b - Total Current Liabilities 3.05b) / Total Assets 38.01b |
| (B) 0.06 = Retained Earnings (Balance) 2.32b / Total Assets 38.01b |
| (C) 0.06 = EBIT TTM 2.03b / Avg Total Assets 36.41b |
| (D) 0.08 = Book Value of Equity 2.29b / Total Liabilities 28.58b |
| Total Rating: 0.60 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 44.13
| 1. Piotroski 3.0pt = -2.0 |
| 2. FCF Yield -3.75% = -1.88 |
| 3. FCF Margin -18.18% = -6.82 |
| 4. Debt/Equity 2.04 = 0.71 |
| 5. Debt/Ebitda 5.32 = -2.50 |
| 6. ROIC - WACC (= 2.41)% = 3.01 |
| 7. RoE 12.38% = 1.03 |
| 8. Rev. Trend 1.08% = 0.08 |
| 9. EPS Trend 49.80% = 2.49 |
What is the price of CMS shares?
Over the past week, the price has changed by -0.76%, over one month by -0.34%, over three months by +3.89% and over the past year by +11.74%.
Is CMS a buy, sell or hold?
- Strong Buy: 6
- Buy: 4
- Hold: 8
- Sell: 1
- Strong Sell: 0
What are the forecasts/targets for the CMS price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 78.3 | 5.4% |
| Analysts Target Price | 78.3 | 5.4% |
| ValueRay Target Price | 82.3 | 10.8% |
CMS Fundamental Data Overview November 17, 2025
P/E Trailing = 21.3084
P/E Forward = 19.1939
P/S = 2.7126
P/B = 2.6043
P/EG = 2.7284
Beta = 0.474
Revenue TTM = 8.29b USD
EBIT TTM = 2.03b USD
EBITDA TTM = 3.33b USD
Long Term Debt = 16.77b USD (from longTermDebt, last quarter)
Short Term Debt = 1.16b USD (from shortTermDebt, last quarter)
Debt = 18.07b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 17.71b USD (from netDebt column, last quarter)
Enterprise Value = 40.21b USD (22.50b + Debt 18.07b - CCE 362.0m)
Interest Coverage Ratio = 2.64 (Ebit TTM 2.03b / Interest Expense TTM 769.0m)
FCF Yield = -3.75% (FCF TTM -1.51b / Enterprise Value 40.21b)
FCF Margin = -18.18% (FCF TTM -1.51b / Revenue TTM 8.29b)
Net Margin = 12.62% (Net Income TTM 1.05b / Revenue TTM 8.29b)
Gross Margin = 38.85% ((Revenue TTM 8.29b - Cost of Revenue TTM 5.07b) / Revenue TTM)
Gross Margin QoQ = 29.09% (prev 38.85%)
Tobins Q-Ratio = 1.06 (Enterprise Value 40.21b / Total Assets 38.01b)
Interest Expense / Debt = 1.12% (Interest Expense 203.0m / Debt 18.07b)
Taxrate = 20.0% (68.0m / 340.0m)
NOPAT = 1.62b (EBIT 2.03b * (1 - 20.00%))
Current Ratio = 0.90 (Total Current Assets 2.75b / Total Current Liabilities 3.05b)
Debt / Equity = 2.04 (Debt 18.07b / totalStockholderEquity, last quarter 8.86b)
Debt / EBITDA = 5.32 (Net Debt 17.71b / EBITDA 3.33b)
Debt / FCF = -11.74 (negative FCF - burning cash) (Net Debt 17.71b / FCF TTM -1.51b)
Total Stockholder Equity = 8.46b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.75% (Net Income 1.05b / Total Assets 38.01b)
RoE = 12.38% (Net Income TTM 1.05b / Total Stockholder Equity 8.46b)
RoCE = 8.04% (EBIT 2.03b / Capital Employed (Equity 8.46b + L.T.Debt 16.77b))
RoIC = 6.36% (NOPAT 1.62b / Invested Capital 25.52b)
WACC = 3.95% (E(22.50b)/V(40.57b) * Re(6.40%) + D(18.07b)/V(40.57b) * Rd(1.12%) * (1-Tc(0.20)))
Discount Rate = 6.40% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 1.01%
Fair Price DCF = unknown (Cash Flow -1.51b)
EPS Correlation: 49.80 | EPS CAGR: 17.28% | SUE: 3.74 | # QB: 2
Revenue Correlation: 1.08 | Revenue CAGR: -4.26% | SUE: 0.58 | # QB: 0
Additional Sources for CMS Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle