📊 CMS-PC Key Takeaways
Investment Thesis
CMS Energy demonstrates stable revenue growth and solid profitability margins (20.2% operating, 12.5% net) typical of regulated utilities, but faces financial constraints from high leverage (1.95x D/E) and negative free cash flow that exceed capital expenditure needs. The company's capital-intensive business model and modest earnings growth (0.9% YoY net income) suggest limited near-term upside despite operational stability.
CMS-PC Strengths
- Strong operating margins at 20.2% reflect pricing power and operational efficiency in regulated utility segment
- Consistent revenue growth of 2.8% YoY demonstrates steady demand in electric and gas services
- Healthy operating cash flow of $2.2B provides base liquidity despite negative FCF
- EPS growth of 6.0% YoY outpacing net income growth suggests effective capital allocation
CMS-PC Risks
- Negative free cash flow of -$515M (-6.0% FCF margin) indicates capital spending exceeds cash generation, limiting flexibility
- High leverage at 1.95x D/E with substantial long-term debt of $17.8B constrains financial flexibility and increases refinancing risk
- Weak interest coverage of 2.2x provides limited cushion for debt service if operational performance declines
- Current ratio of 0.98x signals tight short-term liquidity with current liabilities approaching current assets
- Minimal net income growth of 0.9% YoY suggests limited organic earning expansion
Key Metrics to Watch
- Free cash flow trend - critical to monitor if capex remains elevated relative to operating cash generation
- Debt/equity ratio evolution - watch for deleveraging progress or further deterioration
- Interest coverage ratio - must maintain above 2.0x to ensure debt sustainability
- Operating cash flow consistency - base metric for dividend and debt servicing capability
- Revenue growth acceleration - current 2.8% may not support long-term capex requirements
CMS-PC Financial Metrics
💡 AI Analyst Insight
The current ratio below 1.0x warrants monitoring of short-term liquidity.
CMS-PC Profitability Ratios
CMS-PC vs Default Sector
How CMS ENERGY CORP compares to Default sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
CMS-PC Balance Sheet & Liquidity
CMS-PC 5-Year Financial Trend
5-Year Trend Summary: CMS ENERGY CORP's revenue has grown significantly by 17% over the 5-year period, indicating strong business expansion. The most recent EPS of $3.01 reflects profitable operations.
CMS-PC Growth Metrics (YoY)
CMS-PC Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $1.7B | $253.0M | $0.84 |
| Q2 2025 | $1.6B | $198.0M | $0.65 |
| Q1 2025 | $2.1B | $287.0M | $0.96 |
| Q3 2024 | $1.6B | $176.0M | $0.60 |
| Q2 2024 | $1.5B | $198.0M | $0.65 |
| Q1 2024 | $2.1B | $204.0M | $0.69 |
| Q3 2023 | $1.6B | $165.0M | $0.56 |
| Q2 2023 | $1.5B | $148.0M | $0.50 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
CMS-PC Capital Allocation
CMS-PC SEC Filings
Access official SEC EDGAR filings for CMS ENERGY CORP (CIK: 0000811156)
📋 Recent SEC Filings
| Date | Form | Document | Action |
|---|---|---|---|
| Mar 4, 2026 | 4 | xslF345X05/wk-form4_1772655449.xml | View → |
| Mar 2, 2026 | 4 | xslF345X05/wk-form4_1772473720.xml | View → |
| Feb 27, 2026 | 4 | xslF345X05/wk-form4_1772209806.xml | View → |
| Feb 23, 2026 | 4 | xslF345X05/wk-form4_1771883032.xml | View → |
| Feb 23, 2026 | 4 | xslF345X05/wk-form4_1771883015.xml | View → |
❓ Frequently Asked Questions about CMS-PC
What is the AI rating for CMS-PC?
CMS ENERGY CORP (CMS-PC) has an AI rating of HOLD with 62% confidence, based on fundamental analysis of SEC EDGAR filings.
What are CMS-PC's key strengths?
Strong operating margins at 20.2% reflect pricing power and operational efficiency in regulated utility segment. Consistent revenue growth of 2.8% YoY demonstrates steady demand in electric and gas services.
What are the risks of investing in CMS-PC?
Negative free cash flow of -$515M (-6.0% FCF margin) indicates capital spending exceeds cash generation, limiting flexibility. High leverage at 1.95x D/E with substantial long-term debt of $17.8B constrains financial flexibility and increases refinancing risk.
What is CMS-PC's revenue and growth?
CMS ENERGY CORP reported revenue of $8.5B.
Does CMS-PC pay dividends?
CMS ENERGY CORP pays dividends, with $101.0M distributed to shareholders in the trailing twelve months.
Where can I find CMS-PC SEC filings?
Official SEC filings for CMS ENERGY CORP (CIK: 0000811156) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is CMS-PC's EPS?
CMS ENERGY CORP has a diluted EPS of $3.53.
How is the AI analysis conducted?
Our AI (Claude) analyzes publicly available SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports to evaluate financial health, profitability ratios, balance sheet strength, and growth metrics.