CMS Energy Corp (CMS.PC) revenue by segment
CMS.PCNYSEElectric & Other Services CombinedFiscal year ends December 31Also trades as CMS, CMSA, CMSC, CMSD
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Oct 27, 2026Score 9/304% below fair value
$15.77+0.06 (+0.38%)
Close on Oct 30, 2026Market cap $4.90BP/E 4.7Yield 13.76%
CMS Energy Corp revenue by segment
By business segment
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Electric Utility | $5.64B | $5.06B | $4.75B | $5.42B | $4.96B | $4.37B | $4.44B | $4.56B | $4.45B | $4.38B | 66.0% | +11.4% |
| Gas Utility | $2.49B | $2.14B | $2.42B | $2.73B | $2.06B | $1.82B | $1.94B | $1.90B | $1.77B | $1.69B | 29.2% | +16.6% |
| NorthStar Clean Energy | $408.00M | $316.00M | $297.00M | $445.00M | $308.00M | $229.00M | – | – | – | – | 4.8% | +29.1% |
| Enterprises | – | – | – | – | $308.00M | $229.00M | $248.00M | $252.00M | $229.00M | $215.00M | – | – |
| Ener Bank | – | – | – | – | – | $262.00M | $221.00M | $157.00M | $132.00M | – | – | – |
| Operating income | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Electric Utility | $1.10B | $982.00M | $772.00M | $789.00M | – | – | – | – | – | – | +11.9% |
| Gas Utility | $671.00M | $534.00M | $498.00M | $446.00M | – | – | – | – | – | – | +25.7% |
| NorthStar Clean Energy | -$28.00M | -$10.00M | -$19.00M | $2.00M | – | – | – | – | – | – | +180.0% |
By product or service
By region
From the segment and revenue-disaggregation notes of CMS Energy's 10-K and 10-Q filings (XBRL). Fourth-quarter figures are the fiscal year less the first nine months. Segment names follow the company's own labels and can change when it reorganizes.