Financial Performance
5Y price score: 11
The price score is a basic measure of the stock's performance against the S&P 500 Index over a five-year period.
A score of 100 indicates that the stock did as well as the S&P 500 Index.
A score below 100 means the stock underperformed the index, while a score above 100 means it outperformed the S&P 500.
10Y return: 99.4%
US$ Per
Share
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67.9
52-week range
80.3
Your model inputs
Your fair value & Margin of safety
To calculate fair value based on cost of capital and terminal growth assumptions above, please select free cash flow forecast.
Forecast:
Valuation
Free Cash Flow Yield
(9.2) %
Dividend Yield TTM
3.3 %
Market cap $
$ 21,555
Price / Earnings TTM
20.3
Price / Book TTM
2.1
PEG TTM
(0.5)
Earnings growth and return
LTM
5YR
10YR
Total return (price & dividends)
(1.8) %
23.4 %
99.4 %
Free cash flow per share growth
27 %
(46.2) %
(2,019.9) %
Earnings per share growth
(40.9) %
33.7 %
86.8 %
Founded: 1,886
Employees: 8,324
Business Summary:
Latest Earnings Call Takeaways
2026 Q2 (Jul 28, 2026)
1) Strategy & Leadership
- CMS Energy is focused on a consistent investment thesis emphasizing utility investment and disciplined capital allocation.
- The company plans to exit nonutility renewables development, reallocating approximately $1.7 billion in capital primarily towards utility investments.
- The restructuring aims to simplify the business model, with nearly 100% of future earnings expected to come from rate-based utility operations post-2027.
- The leadership remains confident in delivering 6% to 8% adjusted EPS growth annually, coupled with a 3% dividend yield.
2) Financial & Segment Results
- For Q2 2026, adjusted earnings per share (EPS) were reported at $1.50, with a reaffirmation of full-year guidance at $3.83 to $3.90 per share.
- The company introduced 2027 guidance of $4.08 to $4.17, reflecting confidence in growth despite the NorthStar restructuring.
- Year-to-date, the company faced a $0.23 unfavorable variance in adjusted net income primarily due to prior year's benefits and storm impacts.
- New rates and investments contributed positively, with an expected $0.22 increase in earnings from rates in the second half of 2026.
3) Problems / Headwinds
- The company identified storms as a significant headwind affecting financial performance, with actions underway to mitigate these impacts, including a pending storm deferral.
- Unfavorable weather conditions compared to the previous year also contributed to earnings variances.
- The ongoing transition from NorthStar to a more utility-focused model may present short-term challenges but is expected to enhance long-term financial health.
4) Operational or Product Plans
- CMS Energy is advancing its utility investment plan, which totals $24 billion and is projected to drive 10.5% compounded rate base growth.
- The company is actively pursuing opportunities in data centers, with agreements in place that could benefit average residential customers by approximately $7.50 per month for each gigawatt of new load.
- The Integrated Resource Plan (IRP) will be updated in September to incorporate new data center agreements and ensure alignment with customer growth and energy needs.
5) Guidance & Outlook / Investor Angle
- The company is targeting the completion of its NorthStar restructuring by the end of 2026, which is expected to enhance financial flexibility and reduce external funding needs by over $500 million through 2030.
- Investors can anticipate a more streamlined focus on utility operations, which should lead to higher quality earnings and growth.
- The long-term growth trajectory remains intact, with the potential for increased capital efficiency and reduced equity needs as the company exits nonutility development.
Bottom line: CMS Energy's strategic shift towards utility investments, coupled with a disciplined approach to capital allocation, positions the company for sustainable growth and shareholder value, despite current headwinds from weather impacts and the transition from NorthStar.
Annual Reports, Presentations And IR Contacts
Go to the websiteCMS Energy — Financial Overview, Stock Price, Market Cap
CMS Energy is a company. Founded in 1886. As of August 26, 2026, the company's market capitalization is $21555282980 with a current stock price of $68.74.