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CMS Energy Corp (CMS.PC) stock

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 operating margin

Operating margin is operating income as a percentage of revenue.

CMS Energy's operating margin for the twelve months ending Jun 30, 2026 was 18.9%. For fiscal 2025 it was 20.2%, against 19.8% the year before. The highest annual figure on record is 20.3% in fiscal 2017.

Annual operating margin

PeriodPeriod endValueChange (pts)
FY2025Dec 31, 202520.2%+0.4
FY2024Dec 31, 202419.8%+3.2
FY2023Dec 31, 202316.6%+2.3
FY2022Dec 31, 202214.2%−1.4
FY2021Dec 31, 202115.6%−3.5
FY2020Dec 31, 202019.2%+2.3
FY2019Dec 31, 201916.8%−0.1
FY2018Dec 31, 201816.9%−3.4
FY2017Dec 31, 201720.3%+0.7
FY2016Dec 31, 201619.6%+1.4
FY2015Dec 31, 201518.2%+2.2
FY2014Dec 31, 201416.0%−1.3
FY2013Dec 31, 201317.4%+1.4
FY2012Dec 31, 201216.0%+0.6
FY2011Dec 31, 201115.4%+0.2
FY2010Dec 31, 201015.2%+4.0
FY2009Dec 31, 200911.2%−0.4
FY2008Dec 31, 200811.7%–

Quarterly operating margin

Change is against the same quarter a year earlier.

PeriodPeriod endValueChange (pts)
Q2 FY2026Jun 30, 202614.4%−2.8
Q1 FY2026Mar 31, 202617.9%−2.2
Q4 FY2025Dec 31, 202519.5%−1.9
Q3 FY2025Sep 30, 202523.8%+2.7
Q2 FY2025Jun 30, 202517.2%−0.4
Q1 FY2025Mar 31, 202520.2%+1.3
Q4 FY2024Dec 31, 202421.4%+0.5
Q3 FY2024Sep 30, 202421.1%+4.9
Q2 FY2024Jun 30, 202417.6%+1.9
Q1 FY2024Mar 31, 202418.9%+5.2
Q4 FY2023Dec 31, 202320.8%+8.9
Q3 FY2023Sep 30, 202316.2%+3.5
Q2 FY2023Jun 30, 202315.7%+3.2
Q1 FY2023Mar 31, 202313.7%−5.5
Q4 FY2022Dec 31, 202211.9%+1.9
Q3 FY2022Sep 30, 202212.7%−2.3
Q2 FY2022Jun 30, 202212.4%−3.7
Q1 FY2022Mar 31, 202219.2%−2.2
Q4 FY2021Dec 31, 202110.0%−7.7
Q3 FY2021Sep 30, 202115.1%−7.5
Q2 FY2021Jun 30, 202116.2%−1.8
Q1 FY2021Mar 31, 202121.4%+2.8
Q4 FY2020Dec 31, 202017.8%+0.5
Q3 FY2020Sep 30, 202022.6%−0.1
Q2 FY2020Jun 30, 202017.9%+2.9
Q1 FY2020Mar 31, 202018.6%+1.2
Q4 FY2019Dec 31, 201917.3%+3.7
Q3 FY2019Sep 30, 201922.7%+4.3
Q2 FY2019Jun 30, 201915.1%−2.0
Q1 FY2019Mar 31, 201917.4%−1.2
Q4 FY2018Dec 31, 201813.7%−7.6
Q3 FY2018Sep 30, 201818.4%−3.2
Q2 FY2018Jun 30, 201817.1%+0.5
Q1 FY2018Mar 31, 201818.6%−2.6
Q4 FY2017Dec 31, 201721.3%+4.2
Q3 FY2017Sep 30, 201721.6%−2.0
Q2 FY2017Jun 30, 201716.6%–
Q1 FY2017Mar 31, 201721.2%–
Q4 FY2016Dec 31, 201617.1%–
Q3 FY2016Sep 30, 201623.6%–

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