(CMS) CMS Energy - Ratings and Ratios
Electricity, Natural Gas, Renewable Energy
CMS EPS (Earnings per Share)
CMS Revenue
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 | 22,016m |
| Sub-Industry | Multi-Utilities |
| IPO / Inception | 1984-12-31 |
CMS Stock Ratings
| Growth Rating | 65.5% |
| Fundamental | 42.8% |
| Dividend Rating | 52.7% |
| Return 12m vs S&P 500 | -8.99% |
| Analyst Rating | 3.79 of 5 |
CMS Dividends
| Dividend Yield 12m | 2.95% |
| Yield on Cost 5y | 3.75% |
| Annual Growth 5y | 6.03% |
| Payout Consistency | 59.5% |
| Payout Ratio | 61.5% |
CMS Growth Ratios
| Growth Correlation 3m | 44.8% |
| Growth Correlation 12m | 71.9% |
| Growth Correlation 5y | 68% |
| CAGR 5y | 12.26% |
| CAGR/Max DD 3y (Calmar Ratio) | 0.59 |
| CAGR/Mean DD 3y (Pain Ratio) | 2.27 |
| Sharpe Ratio 12m | 1.87 |
| Alpha | -0.62 |
| Beta | 0.399 |
| Volatility | 16.49% |
| Current Volume | 2724.9k |
| Average Volume 20d | 2014.4k |
| Stop Loss | 70.3 (-3.1%) |
| Signal | 1.08 |
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 -2.95pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 5.16% (prev 6.85%; Δ -1.69pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.07 (>3.0%) and CFO 2.56b > Net Income 1.05b (YES >=105%, WARN >=100%) |
| Net Debt (12.12b) to EBITDA (3.13b) ratio: 3.86 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.18 (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 37.56% (prev 42.34%; Δ -4.77pp) >=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 2.38 (EBITDA TTM 3.13b / Interest Expense TTM 769.0m) >= 6 (WARN >= 3) |
Altman Z'' 0.79
| (A) 0.01 = (Total Current Assets 2.75b - Total Current Liabilities 2.32b) / Total Assets 38.01b |
| (B) 0.07 = Retained Earnings (Balance) 2.59b / Total Assets 38.01b |
| (C) 0.05 = EBIT TTM 1.83b / Avg Total Assets 36.41b |
| (D) 0.15 = Book Value of Equity 3.42b / Total Liabilities 23.46b |
| Total Rating: 0.79 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 42.77
| 1. Piotroski 3.0pt = -2.0 |
| 2. FCF Yield -4.41% = -2.21 |
| 3. FCF Margin -17.93% = -6.72 |
| 4. Debt/Equity 0.99 = 2.04 |
| 5. Debt/Ebitda 3.86 = -2.49 |
| 6. ROIC - WACC (= 0.52)% = 0.65 |
| 7. RoE 11.24% = 0.94 |
| 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 +0.39%, over one month by -0.89%, over three months by -1.43% and over the past year by +8.23%.
Is CMS Energy a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of CMS is around 74.34 USD . This means that CMS is currently overvalued and has a potential downside of 2.44%.
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 | 78.1 | 7.6% |
| Analysts Target Price | 78.1 | 7.6% |
| ValueRay Target Price | 80.5 | 11% |
CMS Fundamental Data Overview November 02, 2025
P/E Trailing = 21.196
P/E Forward = 18.622
P/S = 2.7462
P/B = 2.6317
P/EG = 2.6471
Beta = 0.399
Revenue TTM = 8.29b USD
EBIT TTM = 1.83b USD
EBITDA TTM = 3.13b USD
Long Term Debt = 15.19b USD (from longTermDebt, last fiscal year)
Short Term Debt = 579.0m USD (from shortTermDebt, last quarter)
Debt = 12.12b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 12.12b USD (from netDebt column, last quarter)
Enterprise Value = 33.70b USD (22.02b + Debt 12.12b - CCE 432.0m)
Interest Coverage Ratio = 2.38 (Ebit TTM 1.83b / Interest Expense TTM 769.0m)
FCF Yield = -4.41% (FCF TTM -1.49b / Enterprise Value 33.70b)
FCF Margin = -17.93% (FCF TTM -1.49b / Revenue TTM 8.29b)
Net Margin = 12.62% (Net Income TTM 1.05b / Revenue TTM 8.29b)
Gross Margin = 37.56% ((Revenue TTM 8.29b - Cost of Revenue TTM 5.18b) / Revenue TTM)
Gross Margin QoQ = 23.80% (prev 38.85%)
Tobins Q-Ratio = 0.89 (Enterprise Value 33.70b / Total Assets 38.01b)
Interest Expense / Debt = 1.68% (Interest Expense 203.0m / Debt 12.12b)
Taxrate = 20.0% (68.0m / 340.0m)
NOPAT = 1.47b (EBIT 1.83b * (1 - 20.00%))
Current Ratio = 1.18 (Total Current Assets 2.75b / Total Current Liabilities 2.32b)
Debt / Equity = 0.99 (Debt 12.12b / totalStockholderEquity, last quarter 12.29b)
Debt / EBITDA = 3.86 (Net Debt 12.12b / EBITDA 3.13b)
Debt / FCF = -8.15 (negative FCF - burning cash) (Net Debt 12.12b / FCF TTM -1.49b)
Total Stockholder Equity = 9.31b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.75% (Net Income 1.05b / Total Assets 38.01b)
RoE = 11.24% (Net Income TTM 1.05b / Total Stockholder Equity 9.31b)
RoCE = 7.48% (EBIT 1.83b / Capital Employed (Equity 9.31b + L.T.Debt 15.19b))
RoIC = 5.82% (NOPAT 1.47b / Invested Capital 25.17b)
WACC = 5.31% (E(22.02b)/V(34.13b) * Re(7.49%) + D(12.12b)/V(34.13b) * Rd(1.68%) * (1-Tc(0.20)))
Discount Rate = 7.49% (= 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 -1.49b)
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