CMS Energy Corporation 5.875% Junior Subordinated Notes due 2079 financials
$20.27−0.15%
Close Sep 28, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.83B | $2.73B | $2.23B | $2.02B | $1.84B | $2.45B | $1.99B | $1.74B | $1.61B | $2.18B | $1.95B | $1.67B |
| Gross profit | $1.15B | $1.76B | $848.0M | $1.47B | $1.11B | $1.68B | $795.0M | $1.35B | $1.19B | $1.51B | $1.46B | $1.23B |
| Gross margin | 63.1% | 64.6% | 38.0% | 72.5% | 60.4% | 68.8% | 40.0% | 77.4% | 74.2% | 69.4% | 75.0% | 73.7% |
| Operating income | $264.0M | $490.0M | $435.0M | $481.0M | $317.0M | $494.0M | $425.0M | $367.0M | $283.0M | $412.0M | $406.0M | $271.0M |
| Net income | $117.0M | $338.0M | $286.0M | $275.0M | $198.0M | $302.0M | $262.0M | $251.0M | $195.0M | $285.0M | $306.0M | $174.0M |
| Net margin | 6.4% | 12.4% | 12.8% | 13.6% | 10.8% | 12.3% | 13.2% | 14.4% | 12.1% | 13.1% | 15.7% | 10.4% |
| Diluted EPS | $0.37 | $1.10 | $0.94 | $0.92 | $0.66 | $1.01 | $0.88 | $0.84 | $0.65 | $0.96 | $1.04 | $0.60 |
| EBITDA | $572.0M | $902.0M | $777.0M | $1.45B | $605.0M | $882.0M | $751.0M | $1.28B | -$85.0M | $780.0M | $406.0M | $533.0M |
| Operating cash flow | $622.0M | $705.0M | $478.0M | $343.0M | $414.0M | $1.00B | $403.0M | $304.0M | $707.0M | $956.0M | $405.0M | $199.0M |
| Free cash flow | -$345.0M | -$334.0M | -$596.0M | -$635.0M | -$470.0M | $112.0M | -$515.0M | -$502.0M | $26.0M | $343.0M | -$203.0M | -$1.23B |
| Diluted shares | 310.8M | 307.1M | 305.4M | 300.4M | 299.1M | 299.1M | 298.7M | 298.8M | 298.5M | 297.2M | 292.9M | 291.4M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $241.0M | $175.0M | $509.0M | $362.0M | $844.0M | $465.0M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total debt | $19.30B | $19.08B | $18.90B | $18.07B | $18.05B | $16.97B |
| Total assets | $40.91B | $40.28B | $39.94B | $38.01B | $37.70B | $36.30B |
| Total liabilities | $30.51B | $30.23B | $30.23B | $28.58B | $28.73B | $27.37B |
| Shareholders' equity | $10.40B | $10.05B | $9.71B | $9.43B | $8.97B | $8.92B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology