CMS Energy Corporation (CMS) Financial Statements
CMS Energy financial statements at a glance
CMS Energy reported revenue of $8.13 billion for fiscal year 2025 (ended December 31, 2025), up 12.9% from fiscal year 2024. Net income was $1.07 billion, a net margin of 13.2%.
At the end of fiscal year 2025 it had total assets of $39.94 billion, total liabilities of $30.80 billion and shareholders' equity of $9.14 billion, with total debt of $18.90 billion.
Its operations brought in $2.24 billion of cash.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
CMS Energy Corporation
Income Statement
Annual • USD
CMS Energy key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $8.1B | $7.2B | $7.2B | $8.2B | $7.3B |
| Gross profit | – | – | – | – | $2.6B |
| Operating income | $1.8B | $1.6B | $1.4B | $1.2B | $1.1B |
| Net income | $1.1B | $1.0B | $887.0M | $837.0M | $1.3B |
| Diluted EPS | – | – | – | – | $4.66 |
| Total assets | $39.9B | $35.9B | $33.5B | $31.4B | $28.8B |
| Total liabilities | $30.8B | $27.7B | $26.0B | $24.3B | $21.6B |
| Shareholders' equity | $9.1B | $8.2B | $7.5B | $7.0B | $6.6B |
| Cash | – | – | – | – | $452.0M |
| Total debt | $18.9B | $15.4B | $14.7B | $13.2B | $12.5B |
| Operating cash flow | $2.2B | $2.4B | $2.3B | $855.0M | $1.8B |
| Capital spending | – | – | – | – | $2.2B |
| Free cash flow | – | – | – | – | -$390.0M |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was CMS Energy's revenue in fiscal year 2025?
$8.13 billion, up 12.9% from $7.20 billion in fiscal year 2024.
How much profit does CMS Energy make?
CMS Energy reported net income of $1.07 billion for fiscal year 2025 (13.2% of revenue); operating income was $1.80 billion.
How much cash and debt does CMS Energy have?
At the end of fiscal year 2025: total debt of $18.90 billion.
