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CMS Energy Corporation CMS
$ 69.78 0.53%
report update icon

Quarterly report 2025-Q4
added 10-27-2026

CMS Energy Corporation Financial Ratios 2025-2007 | CMS

Brief overview of CMS Energy Corporation's valuation multiples

The review covers five available annual periods spanning 2021 to 2025.

The current valuation set is P/E 20.71x (median 20.48x), EV/EBITDA 7.86x (median 10.12x), P/S 2.6x (median 2.5x). The multiple basket looks neutral against its history, differing from median levels by roughly 0%.

Current earnings relative to valuation equal about 4.8% on the 1/P/E measure. This is a valuation reference, not an expected payout.

Capital efficiency is characterized by ROE 11.7%, ROA 2.7%, ROCE 4.8%. Low capital returns limit the ability to compound value internally.

PEG is 4.19x. Price is well ahead of embedded growth, making market expectations demanding.

The cash conversion cycle decreased 42.6 days to 21.5 days, supporting working-capital efficiency.

Overall assessment

CMS Energy Corporation's multiples form a balanced picture without a clear discount or premium. Future appeal depends on earnings and return trends.

Annual Financial Ratios CMS Energy Corporation

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007

P/E

 20.7 20.5 18.4 21.1 13.6 20.6 28.3 22.1 27.0 21.2 20.5 21.4 16.0 17.5 13.2 10.5 11.8 - -

P/S

 2.6 2.7 2.2 2.1 2.5 2.4 2.8 2.1 1.9 1.8 1.7 1.4 1.1 1.1 0.8 0.6 0.4 - -

EPS

 3.5 3.3 3.0 2.9 4.7 2.6 2.4 2.3 1.6 2.0 1.9 1.8 1.7 1.5 1.7 1.4 1.0 1.2 -

EV (Enterprise Value)

 21.7 B 20.4 B 16.1 B 17.5 B 17.9 B 15.4 B 40.9 B 34.1 B 30.8 B 28.8 B 26.8 B 25.5 B 21 B 20.5 B 18.7 B 3.33 B 2.62 B -207 M -344 M

EBITDA per Share

 10.1 9.16 8.29 8.12 7.82 7.98 7.88 7.42 7.92 7.58 6.93 6.78 6.68 6.14 6.18 6.23 5.56 - -

EV/EBITDA

 7.1 7.5 6.7 7.4 7.9 7.0 14.4 12.4 10.1 10.0 10.3 10.1 8.3 8.7 8.0 2.1 2.1 -0.1 -

PEG

 4.19 6.54 8.13 36.08 18.82 6.86 9.43 0.53 -1.55 4.48 2.58 7.33 0.93 -1.45 0.71 - - - -

P/B

 0.6 0.6 0.5 0.6 0.6 0.5 3.8 3.0 2.8 2.7 2.7 2.8 2.1 2.1 1.8 0.2 0.2 - -

P/CF

 9.9 8.7 7.1 20.7 10.1 12.2 -43.2 -28.1 -165.5 -77.9 -825.5 -49.9 180.4 -191.1 19.0 3.7 3.2 - -

ROE %

 11.71 12.19 11.76 11.93 18.82 12.42 13.45 13.71 10.27 12.84 13.16 12.87 12.95 11.80 13.51 12.17 8.80 10.48 -

ROA %

 2.68 2.79 2.65 2.67 4.71 2.55 2.53 2.68 2.00 2.55 2.57 2.49 2.60 2.23 2.52 2.18 1.50 - -

ROCE %

 4.82 4.66 4.11 4.40 4.32 5.92 5.13 5.30 6.60 6.84 6.45 6.71 7.38 6.53 7.11 7.22 5.38 28.21 -

Current Ratio

 - - - - - - 0.9 0.9 0.9 0.9 1.0 1.3 1.3 1.3 1.1 - - - -

DSO

 - - 38.3 33.2 21.5 49.7 60.0 65.2 68.9 57.8 51.6 51.7 54.9 54.8 52.1 54.7 27.9 - -

DIO

 - - - - - - 51.6 53.0 60.1 57.0 66.3 65.8 70.5 89.4 123.4 - - - -

DPO

 - - - - - - 54.1 59.8 64.9 55.5 54.7 49.3 47.6 43.0 59.8 - - - -

Operating Cycle

 - - 38.2 33.2 21.5 49.7 111.6 118.2 129.0 114.8 118.0 117.5 125.4 144.2 175.5 54.7 27.9 - -

Cash Conversion Cycle

 - - 38.2 33.2 21.5 49.7 57.5 58.4 64.1 59.2 63.2 68.2 77.7 101.2 115.7 54.7 27.9 - -

All numbers in USD currency

Quarterly Financial Ratios CMS Energy Corporation

2026-Q2 2026-Q1 2025-Q4 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q4 2010-Q3 2010-Q2

EPS

 0.38 1.1 - 0.92 0.67 1.01 - 0.84 0.65 0.96 - 0.6 0.67 0.69 - 0.56 0.5 1.21 0.4 0.64 0.61 1.21 0.47 0.76 0.48 0.86 0.59 0.73 0.33 0.75 0.38 0.6 0.49 0.86 -0.01 0.61 0.33 0.71 0.28 0.67 0.45 0.59 0.39 0.53 0.25 0.73 0.35 0.34 0.31 0.77 0.38 0.48 0.3 0.55 0.26 0.56 0.38 0.26 0.16 0.55 0.4 0.54 0.13 0.58 0.35

EBITDA per Share

 1.84 2.94 - 2.57 2.03 2.96 - 2.15 1.87 2.63 - 1.83 1.72 2.29 - 1.73 1.66 2.77 0.7 1.76 1.72 2.66 1.06 1.98 1.65 2.25 1.1 1.99 1.53 2.31 0.88 1.76 1.62 2.27 1.35 1.86 1.56 2.31 1 2 1.62 2.02 0.88 1.77 1.35 2.23 0.99 1.41 1.4 2.21 0.99 1.74 1.39 1.92 0.8 1.82 2.13 1.36 0.68 2.83 1.93 1.84 0.63 3.29 2.47

ROE %

 10.34 12.52 8.93 12.05 11.24 12.22 8.81 11.08 10.53 10.88 7.50 9.70 9.42 11.61 8.95 17.81 18.45 19.51 20.83 14.57 15.70 15.13 13.46 14.19 14.34 13.72 13.55 12.50 11.93 13.00 13.82 11.50 11.82 10.97 10.38 12.24 12.74 13.59 12.96 13.84 13.22 12.01 13.28 13.21 12.01 12.57 13.00 13.30 14.39 14.44 13.05 12.20 13.19 14.00 11.93 11.20 11.15 11.33 13.69 13.23 13.78 13.51 0.88 5.14 3.03

ROA %

 2.40 2.94 2.10 2.83 2.67 2.99 2.15 2.69 2.58 2.65 1.80 2.35 3.04 4.64 3.99 4.61 4.06 4.65 4.60 2.91 3.03 2.90 2.55 2.64 2.67 2.56 2.54 2.36 2.27 2.49 2.68 2.23 2.29 2.12 2.00 2.37 2.48 2.66 2.55 2.72 2.59 2.34 2.58 2.56 2.32 2.42 2.49 2.58 2.81 2.84 2.60 2.40 2.54 2.67 2.23 2.09 2.07 2.09 2.52 2.43 2.52 2.46 0.16 0.93 0.54

ROCE %

 4.40 5.16 3.80 4.94 4.43 4.80 3.34 4.25 3.93 4.14 2.84 3.77 6.05 6.92 5.82 6.59 6.61 4.38 4.32 4.70 5.06 5.05 4.70 4.84 4.99 4.94 5.14 4.99 4.88 5.14 5.31 6.04 6.33 6.35 6.61 6.22 6.57 6.83 6.63 6.52 6.30 5.98 6.47 6.70 6.31 6.54 6.71 6.84 7.51 7.64 7.40 7.07 7.26 7.46 6.56 6.41 6.41 6.18 7.12 7.05 7.22 7.76 1.16 2.41 2.01

DSO

 - - - - - - - - - - - - 29.6 51.4 - 26.2 24.8 37.9 36.9 38.6 46.4 38.4 45.1 51.6 56.6 44.3 45.0 52.3 56.0 41.0 48.1 55.0 59.0 46.6 53.0 61.7 65.0 46.2 45.7 47.2 54.6 40.4 46.8 47.5 52.3 35.8 45.7 56.2 54.8 32.5 48.0 57.7 59.3 40.8 46.7 51.8 58.5 45.1 49.0 54.2 58.1 41.1 44.8 43.3 -

Operating Cycle

 - - - - - - - - - - - - - 51.4 - 26.2 24.8 37.9 - 38.6 46.4 38.4 - 51.6 56.6 44.3 - 52.3 56.0 41.0 - 55.0 59.0 46.6 - 61.7 65.0 46.2 - 47.2 54.6 40.4 - 47.5 52.3 35.8 - 56.2 54.8 32.5 - 57.7 59.3 40.8 - 51.8 58.5 45.1 - 54.2 58.1 - - - -

Cash Conversion Cycle

 - - - - - - - - - - - - - 51.4 - 26.2 24.8 37.9 - 38.6 46.4 38.4 - 51.6 56.6 44.3 - 52.3 56.0 41.0 - 55.0 59.0 46.6 - 61.7 65.0 46.2 - 47.2 54.6 40.4 - 47.5 52.3 35.8 - 56.2 54.8 32.5 - 57.7 59.3 40.8 - 51.8 58.5 45.1 - 54.2 58.1 - - - -

All numbers in USD currency

Multiples are an important financial analysis tool for the company CMS Energy Corporation, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.

Advantages of Using Financial Ratios
  • Simplified Data Analysis
    Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition.
  • Comparability Between Companies
    Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations.
  • Identification of Trends and Issues
    Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks.
  • Decision Support
    Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions.
  • Accelerated Assessment of Investment Attractiveness
    Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.

Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.

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