US · USD
CMS
CMS Energy Corporation
- Day's range
- $63.37 – $64.58
- Day's volume
- $342.8M
- 52-week range
- $62.60 – $78.69
Follow CMS in the Fuolio
See how CMS weighs in your net worth, what it has paid you and how far it is from your target allocation.
Create a free accountCMS in numbers
- Market cap
- $20.1B
- P/E
- 19.57
- P/B
- 2.05
- Dividend yield (12m)
- 3.52%
- Net debt/EBITDA
- 6.22
The 12-month dividend yield of CMS is 3.52%, above its 5-year average of 3.03%.
CMS price history
CMS risk and return
Monthly closes adjusted for splits and distributions.
| Metric | 12 months | 36 months | 60 months |
|---|---|---|---|
| Return | -13.13% | +22.96% | +26.15% |
| Volatility (annualized) | 18.40% | 16.25% | 17.55% |
| Largest drawdown | -17.92% | -17.92% | -22.27% |
| Positive months | 5/12 | 20/36 | 33/60 |
How much did investing in CMS return?
$1,000.00 invested on 11/01/2021 would be worth $1,261.52 today.
- Value today in CMS
- $1,261.52
- Return over the period
- +26.15%
- Return per year
- +4.83%
- In the S&P 500
- $1,702.20
With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.
CMS fundamentals
Valuation
- P/E19.57
- P/B2.05
- EV/EBITDA12.87
- EV/EBIT23.28
- EV/Revenue4.52
- P/EBIT12.02
- P/S2.34
- P/OCF9.35
- P/FCF—
- Earnings yield4.30%
- PEG ratio—
- Earnings per share$3.27
- Book value per share$31.17
Debt
- Net debt$18.8B
- Net debt/EBITDA6.22
- Net debt/Equity1.92
- Debt/Equity1.95
- Current ratio0.94
- Quick ratio—
- Cash ratio0.08
Efficiency
- Gross margin—
- EBITDA margin35.15%
- Operating margin19.44%
- Net margin11.94%
- Asset turnover0.21
Profitability
- ROE10.50%
- ROA2.51%
- ROIC4.60%
- Payout68.84%
Growth
- Revenue CAGR (5 years)5.19%
- Earnings CAGR (5 years)2.63%
- Revenue growth (year)—
- Earnings growth (year)—
- Revenue growth (quarter)—
- Earnings growth (quarter)—
What is CMS's fair price?
Two classic value formulas, with today's numbers. The current price is $64.03.
- Graham's fair price
- $47.90
- 25.19% below the price
√(22.50 × $3.27 × $31.17)
Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.
- Bazin's ceiling price
- $32.53
- 49.19% below the price
$1.95 (5-year average) ÷ 6%
Décio Bazin only bought stocks yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years over 6%.
Graham ignores growth and debt; Bazin assumes past distributions repeat. They are references to compare, not a buy recommendation.
CMS's indicators by year
Multiples at each year's closing price; margins and returns from that year's statements.
| Indicator | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| P/E | 20.01 | 19.86 | 19.28 | 22.04 | 13.93 | 23.35 | 26.23 | 21.42 |
| P/B | 2.34 | 2.42 | 2.27 | 2.63 | 2.84 | 3.21 | 3.56 | 2.96 |
| EV/EBITDA | 13.08 | 13.27 | 13.40 | 13.83 | 13.64 | 13.16 | 14.62 | 12.18 |
| Dividend yield | 3.10% | 3.09% | 3.36% | 2.91% | 2.67% | 2.67% | 2.43% | 2.88% |
| Earnings per share | $3.50 | $3.36 | $3.01 | $2.87 | $4.67 | $2.61 | $2.40 | $2.32 |
| Book value per share | $29.84 | $27.54 | $25.62 | $24.08 | $22.88 | $19.02 | $17.68 | $16.78 |
| ROE | 11.71% | 12.19% | 11.76% | 11.93% | 20.40% | 13.74% | 13.55% | 13.82% |
| ROIC | 5.06% | 5.12% | 4.58% | 5.21% | 5.45% | 5.93% | 5.15% | 6.11% |
| EBITDA margin | 36.52% | 37.25% | 33.26% | 28.25% | 31.94% | 36.44% | 32.86% | 32.22% |
| Net margin | 12.90% | 13.70% | 12.22% | 10.06% | 19.12% | 12.10% | 10.62% | 10.10% |
| Net debt/EBITDA | 6.02 | 5.97 | 6.32 | 5.98 | 5.30 | 5.40 | 6.14 | 5.46 |
CMS's financial statements
| Line | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Net revenue | $8.3B | $7.3B | $7.3B | $8.3B | $7.1B | $6.2B |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| EBITDA | $3B | $2.7B | $2.4B | $2.4B | $2.3B | $2.3B |
| EBIT | $1.7B | $1.5B | $1.2B | $1.2B | $1.1B | $1.2B |
| Financial result | $310M | $344M | $362M | $197M | $177M | $84M |
| Income before tax | $1.2B | $1.1B | $954M | $902M | $823M | $809M |
| Income tax | -$246M | -$176M | -$147M | -$93M | -$95M | -$115M |
| Net income | $1.1B | $1B | $887M | $837M | $1.4B | $755M |
Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.
Does CMS pay dividends?
Dividend yield per year
- 2.81%2017
- 2.88%2018
- 2.43%2019
- 2.67%2020
- 2.67%2021
- 2.91%2022
- 3.36%2023
- 3.09%2024
- 3.10%2025
- 2.67%2026
| Type | Last day to own | Payment | Per share |
|---|---|---|---|
| Dividend | 08/06/2026 | 09/01/2026 | $0.57 |
| Dividend | 05/07/2026 | 05/29/2026 | $0.57 |
| Dividend | 02/16/2026 | 02/27/2026 | $0.57 |
| Dividend | 11/06/2025 | 11/26/2025 | $0.54 |
| Dividend | 08/07/2025 | 08/29/2025 | $0.54 |
| Dividend | 05/08/2025 | 05/30/2025 | $0.54 |
| Dividend | 02/13/2025 | 02/28/2025 | $0.54 |
| Dividend | 11/12/2024 | 11/27/2024 | $0.52 |
| Dividend | 08/01/2024 | 08/30/2024 | $0.52 |
| Dividend | 05/13/2024 | 05/31/2024 | $0.52 |
| Dividend | 02/08/2024 | 02/29/2024 | $0.52 |
| Dividend | 11/01/2023 | 11/30/2023 | $0.49 |
See all 40 distributions
| Type | Last day to own | Payment | Per share |
|---|---|---|---|
| Dividend | 08/02/2023 | 08/31/2023 | $0.49 |
| Dividend | 05/03/2023 | 05/31/2023 | $0.49 |
| Dividend | 02/09/2023 | 02/28/2023 | $0.49 |
| Dividend | 11/02/2022 | 11/30/2022 | $0.46 |
| Dividend | 08/03/2022 | 08/31/2022 | $0.46 |
| Dividend | 05/04/2022 | 05/31/2022 | $0.46 |
| Dividend | 02/09/2022 | 02/28/2022 | $0.46 |
| Dividend | 11/03/2021 | 11/30/2021 | $0.44 |
| Dividend | 08/04/2021 | 08/31/2021 | $0.44 |
| Dividend | 05/05/2021 | 05/28/2021 | $0.44 |
| Dividend | 02/03/2021 | 02/26/2021 | $0.44 |
| Dividend | 11/04/2020 | 11/30/2020 | $0.41 |
| Dividend | 08/05/2020 | 08/31/2020 | $0.41 |
| Dividend | 05/13/2020 | 05/29/2020 | $0.41 |
| Dividend | 02/05/2020 | 02/28/2020 | $0.41 |
| Dividend | 10/30/2019 | 11/27/2019 | $0.38 |
| Dividend | 07/31/2019 | 08/30/2019 | $0.38 |
| Dividend | 05/01/2019 | 05/31/2019 | $0.38 |
| Dividend | 01/30/2019 | 02/28/2019 | $0.38 |
| Dividend | 10/31/2018 | 11/30/2018 | $0.36 |
| Dividend | 08/01/2018 | 08/31/2018 | $0.36 |
| Dividend | 05/02/2018 | 05/31/2018 | $0.36 |
| Dividend | 02/14/2018 | 02/28/2018 | $0.36 |
| Dividend | 11/01/2017 | 11/30/2017 | $0.33 |
| Dividend | 08/01/2017 | 08/31/2017 | $0.33 |
| Dividend | 05/02/2017 | 05/31/2017 | $0.33 |
| Dividend | 01/31/2017 | 02/28/2017 | $0.33 |
| Dividend | 11/01/2016 | 11/30/2016 | $0.31 |
About Cms Energy
- Sector
- Transportation and utilities
Questions about CMS
How much is CMS today?
CMS is at $64.03 (0.45% on the day), last traded on 10/05/2026.
How much did CMS pay in dividends in 2025?
CMS paid $2.17 per share in 2025, a dividend yield of 3.10%.
What are the P/E and P/B of CMS?
CMS trades at a P/E of 19.57 and a P/B of 2.05.
How much did CMS return in 12 months?
CMS returned -13.13% in 12 months, with annualized volatility of 18.40% and a largest drawdown of -17.92%.