CMS Energy Corporation (CMS) Stock: Price, Forecast & Analyst Target
CMS Energy Corporation (CMS) — MoonshotScore 46/100 (Fair band), calculated Oct 4, 2026. Price $63.74 (+0.16%), as of the Oct 2, 2026 trading session; market cap $20.0B. Expected results Oct 29, 2026.
Educational signal · not a buy or sell recommendation · How to read this
Market value / cash and short-term investments: 82.99× (market value Oct 2, 2026; cash Jun 30, 2026) · expected results Oct 29, 2026
CMS Energy Corporation · CMS · NYSE · Utilities · Regulated Electric
Research dated 2026-09-12: CMS Energy is a Michigan energy company anchored by Consumers Energy, where electricity and natural gas delivery to residential, commercial and industrial customers drives the business, alongside NorthStar Clean Energy. The key question is whether earnings and operating cash generation can support a capital program that has consistently exceeded internally generated cash while debt remains substantial.
Price as of Oct 2, 2026
Key Statistics
MoonshotScore v2 · CMS Energy (CMS)
FairWhy this rating? Method, drivers & history
Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.
- Business Quality — Is this a genuinely good business?
- Financial Safety — Could this blow up on me?
- Valuation — Am I paying a fair price?
- Growth Durability — Is the growth real and likely to last?
- Momentum — Is the market already moving on this?
A strained balance sheet, though growth is only middling, and the price trend has turned against it. Business Quality: Solid; Financial Safety: Strained; Valuation: Full; Growth Durability: Flat; Momentum: Slipping.
- quarterly revenue $1.83B (Q2 FY2026, quarter ended Jun 2026)
- EPS beat 6 of 8
- expected results Oct 29, 2026
Holding back: weak price trend
What has the MoonshotScore done over time?
| Recorded | Score | Band |
|---|---|---|
| 46 | Fair | |
| 46 | Fair | |
| 46 | Fair | |
| 46 | Fair | |
| 46 | Fair | |
| 46 | Fair |
The score was 46 in the stored Oct 3, 2026 snapshot and remains 46 in the current publication computed Oct 4, 2026 (0). This current publication is not yet represented in the immutable snapshot archive.
Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.
Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →
Price & valuation
| Measure | Value | As of |
|---|---|---|
| Latest provided price | $63.74 | |
| Change on the day | +0.16% | |
| 52-week range | $62.29–$80.36 | |
| Market capitalisation | $20.0B | |
| Price / earnings (trailing) | 18.86 | |
| Shares traded on the day | 5.00M | |
| Beta (volatility vs the S&P 500) | 0.33 | |
| Dividends per share (last 12 months) | $2.25 | |
| Dividend yield (last 12 months) | 3.53% |
Price & events
Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file. Numbers key to the dated list. Point at or tab to any week for its close.
Events behind the price
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.
Upcoming events
The provider's estimated date can change.
What to watch nextOther perspectives
Council score for CMS Energy (CMS): perspectives
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
5-Factor Breakdown
Legends Council
6 lenses, 0 current
AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Read on: Sep 24, 2026 · older than the 27 hours refresh window; not a current reading
Munger's Mindset
Balance Sheet & Valuation · historical
Read on: Sep 10, 2026 · older than the 27 hours refresh window; not a current reading
How to read these bars and different assessments
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.
On Sep 10, 2026, the Munger lens read the price at that time as undervalued against its own estimate of value.
Readings on this page are from Oct 4, 2026, except a card that shows its own read date.
Watch the CMS film — every key number, told as a short cinematic story
~2 min · open the film
What is CMS Energy (CMS), and what does it report?
Short answer · as of
CMS Energy generates, purchases, distributes and sells electricity, and it purchases, transports, stores, distributes and sells natural gas.
Research dated 2026-09-12.
CMS Energy generates, purchases, distributes and sells electricity, and it purchases, transports, stores, distributes and sells natural gas. NorthStar Clean Energy adds independent power production, energy marketing and renewable development, so this is not merely a regulated electric utility.
Reported revenue reflects utility service across residential, commercial and industrial customers. Residential service is the largest disclosed customer category, making household energy demand and the economics of Michigan utility service especially important to the consolidated result.
What do the latest results show for CMS Energy (CMS)?
Short answer · as of
The most recent reported quarter, Q2 FY2026, carried revenue of $1.83B.
Research dated 2026-09-12.
In the latest reported period, revenue was slightly below the comparable prior period, while operating profit and net income declined more sharply. Relative to market expectations, reported earnings came in ahead while revenue fell short, separating per-share delivery from top-line performance.
The broader annual record is stronger: revenue and net income increased in the latest full period. Within the more recent quarterly pattern, however, the sharp drop from the preceding period shows that CMS Energy should be judged across seasonal periods rather than from a single sequential comparison.
Where is operating spending going?
Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.
- Latest quarter · revenue
- $1.83B Jun 30, 2026
- Latest quarter · SG&A
- $0.00 Jun 30, 2026
- Latest quarter · FMP standardized operating result
- $264.00M Jun 30, 2026
| Period end | Revenue | R&D | SG&A | FMP standardized operating result |
|---|---|---|---|---|
| Jun 30, 2026 | $1.83B | Not available | $0.00 | $264.00M |
| Mar 31, 2026 | $2.73B | Not available | $432.00M | $490.00M |
| Dec 31, 2025 | $2.23B | Not available | $3.47B | $435.00M |
| Sep 30, 2025 | $2.02B | Not available | $0.00 | $481.00M |
USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.
Did results meet expectations?
Reported earnings and revenue alongside the estimates recorded by the provider.
- Latest report · revenue
- $1.83B Jul 28, 2026
- Latest report · revenue estimate
- $1.87B Jul 28, 2026
- Latest report · revenue vs estimate
- Below estimate Jul 28, 2026
- Latest report · EPS vs estimate
- Above estimate Jul 28, 2026
| Report date | Revenue · reported | Revenue · estimate | EPS · reported | EPS · estimate |
|---|---|---|---|---|
| Jul 28, 2026 | $1.83B | $1.87B | $0.3700 | $0.3588 |
| Apr 28, 2026 | $2.73B | $2.46B | $1.1300 | $1.1000 |
| Feb 5, 2026 | $2.23B | $1.88B | $0.9500 | $0.9330 |
| Oct 30, 2025 | $2.02B | $1.85B | $0.9300 | $0.8600 |
Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.
Quarterly income statement — 4 quarters
| Period | Revenue | Net income | EPS |
|---|---|---|---|
| Q2 FY2026 | $1.83B | $120M | $0.39 (diluted) |
| Q1 FY2026 | $2.73B | $340M | $1.13 (diluted) |
| Q4 FY2025 | $2.23B | $289M | $0.94 (diluted) |
| Q3 FY2025 | $2.02B | $277M | $0.92 (diluted) |
What are the financial strengths and risks for CMS Energy (CMS)?
Short answer
Cash and short-term investments were $241.00M at the Jun 30, 2026 balance-sheet date. Operating cash flow was $622.00M for the quarter ended Jun 30, 2026, meaning operations generated cash. These figures do not establish a cash runway.
Research dated 2026-09-12.
CMS Energy remains profitable, produces positive operating cash flow and has sustained dividend payments. Those qualities support its utility profile, but they do not eliminate the financing burden created by infrastructure spending.
Capital expenditure has exceeded operating cash flow throughout the reported quarterly series, leaving free cash flow negative. Cash and short-term investments are small beside total debt, liquidity ratios sit below full current-liability coverage, and leverage is meaningful relative to equity.
The specific financial risk is continued dependence on external funding for the capital program. Higher financing costs, weaker operating cash conversion or difficulty earning an adequate return on utility investment would make that funding gap more consequential.
How much cash does the business generate or use?
Quarterly operating cash flow shows cash generated or used by operations.
- Latest quarter · operating cash flow
- $622.00M Jun 30, 2026
- Previous quarter · operating cash flow
- $705.00M Mar 31, 2026
| Period end | Operating cash flow | Capital expenditure (reported) |
|---|---|---|
| Jun 30, 2026 | $622.00M | −$967.00M |
| Mar 31, 2026 | $705.00M | −$1.04B |
| Dec 31, 2025 | $478.00M | −$1.07B |
| Sep 30, 2025 | $343.00M | −$978.00M |
Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.
USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.
What should you watch next at CMS Energy (CMS)?
Short answer · as of
The next earnings report is expected on Oct 29, 2026.
Research dated 2026-09-12.
Watch whether revenue returns to growth against the comparable period and whether operating profit and net income recover with it. The latest earnings release paired an earnings beat with a revenue miss, so another per-share beat without stronger operating performance would deserve a narrower interpretation.
Cash conversion is the harder test. Operating cash flow needs to close more of the gap with capital expenditure, while cash balances and debt show whether the investment program is increasing reliance on financing.
The forthcoming earnings report also provides a check on the upward path embedded in analyst revenue and earnings estimates. Confirmation requires progress in the reported business, not merely stable analyst ratings.
How does CMS Energy compare with its peers?
Short answer
CMS Energy's score ranks 4th of 6 in the bounded comparison shown, against 5 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.
Research dated 2026-09-12.
CMS Energy differs from a pure regulated electric utility because its core Michigan franchise spans electricity and natural gas, while NorthStar Clean Energy adds independent generation, marketing and renewable development. That combination broadens the sources of revenue but also blends regulated utility economics with a smaller activity set that has a different operating profile.
Residential utility service is the largest disclosed revenue category, followed by commercial and industrial service. The business therefore rests more on a geographically concentrated customer franchise and infrastructure investment cycle than on selling power alone.
| Company | Price | Market value | Score |
|---|---|---|---|
| $83.72 Oct 2, 2026 | $96.3B | 54 5-pillar Oct 4, 2026 | |
| $53.89 Oct 2, 2026 | $20.7B | 52 5-pillar Oct 4, 2026 | |
| $43.34 Oct 2, 2026 | $25.1B | 47 5-pillar Oct 4, 2026 | |
| CMS Energy (CMS) — this page | $63.74 | $20.0B | 46 |
| $124.45 Oct 2, 2026 | $25.9B | 44 5-pillar Oct 4, 2026 | |
| $52.87 Oct 2, 2026 | $26.9B | 43 5-pillar Oct 4, 2026 | |
| $17.94 Date unavailable | $20.1B | — Model unavailable | |
| $26.41 Date unavailable | $19.4B | — Model unavailable | |
| $79.17 Date unavailable | $18.3B | — Model unavailable | |
| $64.33 Date unavailable | $16.6B | — Model unavailable | |
| $64.50 Date unavailable | $24.3B | — Model unavailable | |
| $32.80 Date unavailable | $24.7B | — Model unavailable | |
| $37.79 Date unavailable | $24.9B | — Model unavailable |
Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.
The records behind this page
Analyst targets & estimates
What analysts have on file
- Price target, low to high
- $77.00 – $84.00
- Consensus target
- $80.11
- Median target
- $80.00
Consensus record · Captured .
Measured against a quoted price of $63.74 (as of Oct 2, 2026).
Insider activity
Form 4 records via FMP · Of the newest 100 records, those within the last 180 days, newest dated Jul 31, 2026
- Transactions
- 13
- Identified insiders
- 12
- Purchases
- 1
- Sales
- 1
- Other transactions
- 11
Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
Who holds the shares?
Institutional ownership reported through 13F filings.
- Reporting holders
- 827 Period end Jun 30, 2026
- Previous quarter · holders
- 809 Prior to period end Jun 30, 2026
| Holders in provider snapshot | Shares |
|---|---|
| Blackrock, INC. | 33,068,880 |
| Vanguard Capital Management LLC | 20,166,948 |
| Vanguard Portfolio Management LLC | 19,050,893 |
| State Street Corp | 17,705,946 |
| Jpmorgan Chase & Co | 16,409,389 |
Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.
What has been published about CMS Energy (CMS)?
What Investors Ask About CMS Energy (CMS) — Utilities
Research dated 2026-09-12; the answers below are from that research, and the full attribution is under Sources. The last 3 questions are answered from this page's own dated data, not from the research.
What does Consumers Energy contribute to CMS Energy?
Consumers Energy supplies the core electricity and natural gas utility operations in Michigan, serving residential, commercial and industrial customers through generation, purchasing, transmission, storage and distribution activities.
How does NorthStar Clean Energy change the CMS Energy business mix?
NorthStar Clean Energy adds independent power production, energy marketing and renewable generation development to a company otherwise centered on regulated utility service.
Why can CMS Energy report positive earnings while free cash flow remains negative?
The company is profitable and generates operating cash, but its capital expenditure has repeatedly exceeded that cash generation. The resulting deficit reflects the scale of infrastructure investment rather than an operating loss.
What makes CMS Energy’s financing needs important?
Cash is modest relative to debt, and the capital program has required more cash than operations supplied across the reported quarterly series. That makes debt access, financing cost and operating cash conversion central to funding continued investment.
What is the CMS stock price today?
The last price recorded on this page for CMS Energy Corporation (CMS) is $63.74, as of the Oct 2, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.
What is the CMS price target?
The analyst consensus price target for CMS Energy Corporation (CMS) is $80.11 (range $77.00 to $84.00, median $80.00), per FMP data captured Oct 4, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.
When are CMS's next earnings?
The next earnings date listed on this page for CMS Energy Corporation (CMS) is Oct 29, 2026. Companies sometimes move report dates, so the company's own announcement is the final word on timing.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Research written by Codex (gpt-5.6-sol) on 2026-09-12. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.
Sources — records for every figure on this page (77 figures)
The 77 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.
"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.
OFFICIAL — 1 fact from SEC filings and earnings calls
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
id.hq | SEC filing business address | ONE Energy Plaza, Jackson, MI, 49201 | OFFICIAL | SEC EDGAR filer business address — The SEC filer business address. Our market-data provider separately lists "One Energy Plaza, Jackson, MI, 49201, US". |
FMP — 67 facts from Financial Modeling Prep endpoint families
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
px.last | Latest provided price | $63.74 | FMP | Financial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-04T20:54:31.286Z. | |
px.change | Change on the day | +0.16% | FMP | Financial Modeling Prep (FMP) · quote | |
px.mcap | Market capitalisation | $20.0B | FMP | Financial Modeling Prep (FMP) · quote — Date unknown Market cap record date: 2026-10-02. FMP quote timestamp: 2026-10-02T20:00:02.000Z. Captured from FMP at 2026-10-04T20:54:30.144Z. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares. | |
px.change_abs | Change on the day, in dollars | +$0.10 | FMP | Financial Modeling Prep (FMP) · quote | |
fin.q_revenue | Revenue, Q2 FY2026 | $1.83B | FMP | Financial Modeling Prep (FMP) · income statement (quarterly) | |
px.range52 | 52-week range | $62.29–$80.36 | FMP | Financial Modeling Prep (FMP) quote | |
px.pe | Price / earnings (trailing) | 18.86 | FMP | Financial Modeling Prep (FMP) · quote | |
px.volume | Shares traded on the day | 5.00M | FMP | Financial Modeling Prep (FMP) · quote | |
px.beta | Beta | 0.33 | FMP | Financial Modeling Prep (FMP) company profile | |
id.ceo | Chief executive | Garrick J. Rochow | FMP | Financial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it. | |
id.employees | Employees | 8,350 | FMP | Financial Modeling Prep (FMP) employee count, from the company's filing | |
fin.annual | Revenue and net result by fiscal year | 5 fiscal years, FY2021 through FY2025: FY2021 revenue $7.33B, net result $1.35B; FY2022 revenue $8.60B, net result $837.00M; FY2023 revenue $7.46B, net result $887.00M; FY2024 revenue $7.51B, net result $1.00B; FY2025 revenue $8.54B, net result $1.07B | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements | |
fin.rev_mix | Reported revenue segments | Commercial Utility Service $2.43B · Industrial Utility Service $824.00M · Residential Utility Services $4.36B | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K | |
fin.gross_margin | Gross margin (trailing twelve months) | 69.7% | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.q_table.depth.2026-06-30.revenue_k | Revenue — period end 2026-06-30 | $1.83B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.sga_k | SG&A — period end 2026-06-30 | $0.00 | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.operating_result_k | FMP standardized operating result — period end 2026-06-30 | $264.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.revenue_k | Revenue — period end 2026-03-31 | $2.73B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.sga_k | SG&A — period end 2026-03-31 | $432.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.operating_result_k | FMP standardized operating result — period end 2026-03-31 | $490.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.revenue_k | Revenue — period end 2025-12-31 | $2.23B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.sga_k | SG&A — period end 2025-12-31 | $3.47B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.operating_result_k | FMP standardized operating result — period end 2025-12-31 | $435.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.revenue_k | Revenue — period end 2025-09-30 | $2.02B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.sga_k | SG&A — period end 2025-09-30 | $0.00 | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.operating_result_k | FMP standardized operating result — period end 2025-09-30 | $481.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
earn.history.depth.2026-07-28.revenue_actual | Revenue · reported — report date 2026-07-28 | $1.83B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-28.revenue_estimated | Revenue · estimate — report date 2026-07-28 | $1.87B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-28.eps_actual | EPS · reported — report date 2026-07-28 | $0.3700 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-28.eps_estimated | EPS · estimate — report date 2026-07-28 | $0.3588 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-28.revenue_actual | Revenue · reported — report date 2026-04-28 | $2.73B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-28.revenue_estimated | Revenue · estimate — report date 2026-04-28 | $2.46B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-28.eps_actual | EPS · reported — report date 2026-04-28 | $1.1300 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-28.eps_estimated | EPS · estimate — report date 2026-04-28 | $1.1000 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-05.revenue_actual | Revenue · reported — report date 2026-02-05 | $2.23B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-05.revenue_estimated | Revenue · estimate — report date 2026-02-05 | $1.88B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-05.eps_actual | EPS · reported — report date 2026-02-05 | $0.9500 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-05.eps_estimated | EPS · estimate — report date 2026-02-05 | $0.9330 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-30.revenue_actual | Revenue · reported — report date 2025-10-30 | $2.02B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-30.revenue_estimated | Revenue · estimate — report date 2025-10-30 | $1.85B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-30.eps_actual | EPS · reported — report date 2025-10-30 | $0.9300 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-30.eps_estimated | EPS · estimate — report date 2025-10-30 | $0.8600 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
fin.q_table | Quarterly income statement | 4 quarters through Q2 FY2026 | FMP | Financial Modeling Prep (FMP) · income statement (quarterly), as filed | |
fin.cash_investments | Cash and short-term investments | $241.00M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. | |
fin.opcf_latest | Latest-quarter operating cash flow | $622.00M | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-06-30. Negative operating cash flow means cash used. This figure is not a cash-runway estimate. | |
fin.long_term_investments | Long-term investments (classification unverified) | $63.00M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.total_debt | Total debt | $19.30B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.price_to_book | Price to book value | 1.96× | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.opcf.depth.2026-06-30.operating_cash_flow_m | Operating cash flow — period end 2026-06-30 | $622.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.operating_cash_flow_m | Operating cash flow — period end 2026-03-31 | $705.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-06-30.capex_m | Capital expenditure (reported) — period end 2026-06-30 | −$967.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.capex_m | Capital expenditure (reported) — period end 2026-03-31 | −$1.04B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.operating_cash_flow_m | Operating cash flow — period end 2025-12-31 | $478.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.capex_m | Capital expenditure (reported) — period end 2025-12-31 | −$1.07B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.operating_cash_flow_m | Operating cash flow — period end 2025-09-30 | $343.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.capex_m | Capital expenditure (reported) — period end 2025-09-30 | −$978.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
earn.pt_range | Analyst price target, low to high | $77.00 – $84.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied | |
earn.pt_consensus | Consensus analyst price target | $80.11 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied | |
earn.pt_median | Median analyst price target | $80.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied | |
own.insiders | Insider transactions via FMP | 13 transactions · 1 purchases, 1 sales, 11 other transactions · 12 identified insiders · of the newest 100 records, those within the last 180 days, newest dated Jul 31, 2026 | FMP | Financial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent. | |
own.institutions.depth.holders | Reporting holders | 827 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.holders_previous_quarter | Previous quarter · holders | 809 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.top_holders.depth.holder_0.shares | Blackrock, INC. — shares in provider snapshot | 33,068,880 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_1.shares | Vanguard Capital Management LLC — shares in provider snapshot | 20,166,948 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_2.shares | Vanguard Portfolio Management LLC — shares in provider snapshot | 19,050,893 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_3.shares | State Street Corp — shares in provider snapshot | 17,705,946 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_4.shares | Jpmorgan Chase & Co — shares in provider snapshot | 16,409,389 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. |
UNRECORDED — 2 facts from stored observations whose source was not recorded
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.next | Next earnings date | Oct 29, 2026 | UNRECORDED | Stored earnings-calendar observation — Captured 2026-09-14 | |
earn.history | Reported versus estimated, recent quarters | EPS beat 6 of 8 | UNRECORDED | Stored earnings-history observation — Captured 2026-09-24 · Expired observation |
COMPUTED — 5 facts from our arithmetic, formula restated
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
fin.mcap_to_cash | Market value per dollar of cash and short-term investments | 82.99× | — | COMPUTED | Computed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $241.00M at Jun 30, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-02. Balance-sheet reference date: 2026-06-30. The inputs do not establish a single common source date for this ratio. |
div.ttm_per_share | Dividends per share, last 12 months (split-adjusted) | $2.25 | COMPUTED | Financial Modeling Prep (FMP) split-adjusted dividend history — Sum of 4 split-adjusted declared dividends with an ex-date in the 365 days to 2026-10-04, per current share. Ex-dates are not payment dates; special dividends are included. Not a declared annual rate. | |
div.ttm_yield | Dividend yield, last 12 months | 3.53% | COMPUTED | Financial Modeling Prep (FMP) split-adjusted dividend history and quote — Split-adjusted dividends with ex-dates in the trailing 365-day window divided by the packet price, on the same current-share basis. Price date follows the quote, latest price bar or packet-build day when unstamped. Not a forecast or declared annual rate. | |
earn.history.depth.2026-07-28.revenue_actual.comparison | Latest report · revenue vs estimate | Below estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($1.83B) with the recorded estimate ($1.87B) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
earn.history.depth.2026-07-28.eps_actual.comparison | Latest report · EPS vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS ($0.3700) with the recorded estimate ($0.3588) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
OURS — 2 facts from Stock Expert AI's own score and rank
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
ours.moonshot | MoonshotScore v2 | 46 of 100 · Fair · pillars 60 / 39 / 43 / 53 / 28 | OURS | Stock Expert AI MoonshotScore v2 engine | |
ours.moonshot_change | MoonshotScore movement | 46 (stored snapshot Oct 3, 2026) → 46 (current publication computed Oct 4, 2026) (0) | OURS | Stock Expert AI current score publication and immutable score snapshots — The current score publication is not yet represented in the immutable snapshot archive. |
Fact-family notes
- Quarterly statement note. Source series as of 2026-06-30. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs:
fin.q_table.depth.2026-06-30.revenue_k,fin.q_table.depth.2026-06-30.sga_k,fin.q_table.depth.2026-06-30.operating_result_k,fin.q_table.depth.2026-03-31.revenue_k,fin.q_table.depth.2026-03-31.sga_k,fin.q_table.depth.2026-03-31.operating_result_k,fin.q_table.depth.2025-12-31.revenue_k,fin.q_table.depth.2025-12-31.sga_k,fin.q_table.depth.2025-12-31.operating_result_k,fin.q_table.depth.2025-09-30.revenue_k,fin.q_table.depth.2025-09-30.sga_k,fin.q_table.depth.2025-09-30.operating_result_k. - Earnings-history note. Source series as of 2026-07-28. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs:
earn.history.depth.2026-07-28.revenue_actual,earn.history.depth.2026-07-28.revenue_estimated,earn.history.depth.2026-07-28.revenue_actual.comparison,earn.history.depth.2026-07-28.eps_actual.comparison,earn.history.depth.2026-07-28.eps_actual,earn.history.depth.2026-07-28.eps_estimated,earn.history.depth.2026-04-28.revenue_actual,earn.history.depth.2026-04-28.revenue_estimated,earn.history.depth.2026-04-28.eps_actual,earn.history.depth.2026-04-28.eps_estimated,earn.history.depth.2026-02-05.revenue_actual,earn.history.depth.2026-02-05.revenue_estimated,earn.history.depth.2026-02-05.eps_actual,earn.history.depth.2026-02-05.eps_estimated,earn.history.depth.2025-10-30.revenue_actual,earn.history.depth.2025-10-30.revenue_estimated,earn.history.depth.2025-10-30.eps_actual,earn.history.depth.2025-10-30.eps_estimated. - Cash-flow note. Source series as of 2026-06-30. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs:
fin.opcf.depth.2026-06-30.operating_cash_flow_m,fin.opcf.depth.2026-03-31.operating_cash_flow_m,fin.opcf.depth.2026-06-30.capex_m,fin.opcf.depth.2026-03-31.capex_m,fin.opcf.depth.2025-12-31.operating_cash_flow_m,fin.opcf.depth.2025-12-31.capex_m,fin.opcf.depth.2025-09-30.operating_cash_flow_m,fin.opcf.depth.2025-09-30.capex_m.
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- sedat@stockexpertai.com
Sources used for research written 2026-09-12
Historical evidence preserved with this analysis. Current figures are listed separately above.
| Evidence | Captured value | Source date | Source type | Source |
|---|---|---|---|---|
| Business description | CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and NorthStar Clean Energy. The Electric Utility segment is involved in the generation, purchase, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources. Its distribution system comprises 263 miles of high-voltage distribution overhead lines; 4 miles of high-voltage distribution underground lines; 4,619 miles of high-voltage distribution overhead lines; 18 miles of high-voltage distribution underground lines; 82,854 miles of electric distribution overhead lines; 10,027 miles of underground distribution lines; and 1,102 substations. The Gas Utility segment engages in the purchase, transmission, storage, distribution, and sale of natural gas, which includes 2,337 miles of transmission lines; 14 gas storage fields; 28,433 miles of distribution mains; and 8 compressor stations. The NorthStar Clean Energy segment is involved in the independent power production and marketing, including the development and operation of renewable generation. The company serves 1.9 million electric and 1.8 million gas customers, including residential, commercial, and diversified industrial customers. The company was incorporated in 1987 and is headquartered in Jackson, Michigan. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) company profile |
| Revenue by segment | Commercial Utility Service: $2.43B; Industrial Utility Service: $824.00M; Residential Utility Services: $4.36B | 2025-12-31 | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K |
| Operating cash flow by quarter (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements |
| Cash, investments and debt | Total debt: $19.30B; Liquidity basis: cash and short-term investments; Total liabilities: $30.71B; Cash and short-term investments: $241.00M; Cash and investments: $304.00M; Long-term investments: $63.00M; Long-term investments classification: unclassified Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet |
| Trailing twelve-month ratio set | Quick ratio: 0.68; Current ratio: 0.92; Debt to equity: 1.97; Net margin: 11.6%; Gross margin: 69.7%; Operating margin: 18.9%; Return on assets: 2.5%; Return on equity: 11% Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm |
| Sector / industry (provider taxonomy) | Utilities / Regulated Electric The company's SEC filings classify it under SIC 4931 — Electric & Other Services Combined. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) company profile |
| Quarterly income statement (USD thousands) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements |
| Annual revenue and net result (USD millions) | Captured record · 5 entries
| 2025-12-31 | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements |
| Reported versus estimated, last 8 quarters | Captured record · 8 entries
| 2026-07-28 | FMP | Financial Modeling Prep (FMP) earnings |
| Most recent periodic reports | 2026-07-28 | OFFICIAL | SEC EDGAR filer submissions | |
| Cash and investment components | Total basis: cash short and long-term investments; Total: $304.00M; Cash and short-term investments: $241.00M; Long-term investments: $63.00M; Long-term investments classification: unclassified Sums the balance sheet's cash and short-term investments with its long-term investments.; The long-term investment field does not establish marketability; the sum is not a measure of available liquidity.; These provider fields do not establish investment access restrictions or explain differences from third-party cash figures. | 2026-06-30 | COMPUTED | Computed from the balance sheet |
| Cash and short-term investments over time (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's quarterly balance sheets |
| Cash decline over the reported window | To: 2026-06-30; From: 2024-09-30; Periods: 7; Cash basis: cash and short-term investments; Closing balance: $241.00M; Decline: $171.00M; Opening balance: $412.00M; Average change per period: $24.40M Change in cash, cash equivalents and short-term investments between the 2024-09-30 and 2026-06-30 balance sheets.; This is a balance change, not operating burn: financing and investing move it too.; Averaged over 7 reporting periods of unequal length. | 2026-06-30 | COMPUTED | Computed from reported balances |
| Cash against market value | As of: 2026-06-30; Cash basis: cash and short-term investments; Net cash: -$19.06B; Total debt: $19.30B; Cash and investments: $241.00M Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. Cash is the latest reported cash and short-term investment balance; long-term investments are excluded. Market capitalization is the latest provider value.; The reported balance does not establish unrestricted availability or liquidation value.; The two are measured on different dates — the balance sheet is a quarter-end, the market cap is a recent close.; Debt is total debt as reported, including operating lease liabilities where the filer includes them. | 2026-06-30 | COMPUTED | Computed from the balance sheet and the latest market capitalization |
| Distress and quality screens | Altman Z-score: 0.86; Piotroski F-score: 5 Altman Z below 1.8 is the conventional distress zone. The screen is built for manufacturers and industrials; for banks, insurers and property companies it is not a meaningful reading. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) financial scores |
| Recent dividends paid | Captured record · 4 entries
Declared amounts per share on their ex-dates. A single payment does not establish an annual rate, and a special dividend is not separated here. | 2026-08-07 | FMP | Financial Modeling Prep (FMP) dividend history |
| Next earnings report | Date: 2026-10-29; EPS estimate: $1.16 per share; Revenue estimate: $2.17B The date is our provider's estimate until the company confirms it. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) earnings calendar |
| Analyst revenue and earnings estimates (average) | Captured record · 4 entries
| 2026-09-12 | FMP | Financial Modeling Prep (FMP) analyst estimates |
| Analyst actions, most recent per firm | Captured record · 10 entries
One row per firm — the firm's most recent action in our feed. Other data vendors may carry firms ours does not. | 2026-09-08 | FMP | Financial Modeling Prep (FMP) analyst grades |
Data provided for informational purposes only.