CMS Energy

Utilities Multi-Utilities Jackson, Michigan Last filing Feb 10, 2026 · FY2025

Balance Sheet

Assets, liabilities, and equity

27 accounts · 5 years

Account	2025	2024	2023	2022	2021
Statement
BS Assets Cash	$509.0M	$103.0M	$227.0M	$164.0M	$452.0M
BS Assets Short Term Invest	$0	$0	$0	$0	$0
BS Assets Accts Receivable	$27.0M	$23.0M	$21.0M	$1.6B	$931.0M
BS Assets Prepaid Expenses	$160.0M	$103.0M	$80.0M	$113.0M	$120.0M
BS Assets Other Current Assets	$160.0M	$103.0M	$80.0M	$113.0M	$120.0M
BS Assets Total Current	$3.5B	$2.8B	$2.8B	$3.4B	$2.6B
BS Assets PPE	$30.7B	$27.5B	$25.1B	$22.7B	$22.4B
BS Assets Intangible Assets	$0	$0	$0	$0	$0
BS Assets Other Noncurrent	$398.0M	$384.0M	$357.0M	$310.0M	$1.4B
BS Assets Total	$39.9B	$35.9B	$33.5B	$31.4B	$28.8B
BS Liab Accrued Liab	$185.0M	$209.0M	$149.0M	$166.0M	$156.0M
BS Liab Current Debt	$950.0M	$1.2B	$975.0M	$1.1B	$373.0M
BS Liab Other Current	$185.0M	$209.0M	$149.0M	$166.0M	$156.0M
BS Liab Total Current	$3.5B	$3.5B	$2.9B	$3.0B	$2.2B
BS Liab Long Term Debt	$17.8B	$15.2B	$14.5B	$13.1B	$12.0B
BS Liab Op Lease Noncurrent	$135.0M	$21.0M	$22.0M	$27.0M	$23.0M
BS Liab Deferred Tax Liab	$3.3B	$2.9B	$2.6B	$2.4B	$2.2B
BS Liab Other Noncurrent	$392.0M	$407.0M	$415.0M	$397.0M	$375.0M
BS Liab Total	$3.5B	$3.5B	$2.9B	$3.0B	$2.2B
BS Equity Preferred Stock	$224.0M	$224.0M	$224.0M	$224.0M	$224.0M
BS Equity Common Stock	$3.0M	$3.0M	$3.0M	$3.0M	$3.0M
BS Equity APIC	$6.5B	$6.0B	$5.7B	$5.5B	$5.4B
BS Equity Retained Earnings	$2.4B	$2.0B	$1.7B	$1.4B	$1.1B
BS Equity AOCI	$-36.0M	$-41.0M	$-46.0M	$-52.0M	$-59.0M
BS Equity NCI	$567.0M	$518.0M	$581.0M	$580.0M	$557.0M
BS Equity Total	$9.1B	$8.2B	$7.5B	$7.0B	$6.6B
BS Equity Total Liab and Equity	$39.9B	$35.9B	$33.5B	$31.4B	$28.8B

Income Statement

Revenue, expense, and profitability

15 accounts · 5 years

Revenue $8.5B

Operating income $1.7B

Net income $1.1B

Account	2025	2024	2023	2022	2021
Statement
IS Revenue Total	$8.5B	$7.5B	$7.5B	$8.6B	$7.3B
IS Expense COGS	$6.8B	$6.0B	$6.2B	$7.4B	$6.2B
IS Expense DA	$1.3B	$1.2B	$1.2B	$1.1B	$1.1B
IS Expense Total Opex	$6.8B	$6.0B	$6.2B	$7.4B	$6.2B
IS Operating Income	$1.7B	$1.5B	$1.2B	$1.2B	$1.1B
IS Interest Expense	$789.0M	$708.0M	$643.0M	$519.0M	$500.0M
IS Other Nonop Inc Exp	$27.0M	$32.0M	$13.0M	$27.0M	$18.0M
IS Pre Tax Income	$1.2B	$1.1B	$954.0M	$902.0M	$823.0M
IS Tax Expense	$246.0M	$176.0M	$147.0M	$93.0M	$95.0M
IS net Income	$1.1B	$1.0B	$887.0M	$837.0M	$1.4B
IS Comprehensive Income	$1.1B	$1.0B	$893.0M	$844.0M	$1.4B
IS EPS Basic	$4	$3	$3	$3	$5
IS EPS Diluted	$4	$3	$3	$3	$5
IS Shares Basic	$300.4M	$297.6M	$291.2M	$289.5M	$289.0M
IS Shares Diluted	$301.0M	$298.3M	$291.7M	$290.0M	$289.5M

Cash Flow Statement

Operating, investing, and financing flows

16 accounts · 5 years

Account	2025	2024	2023	2022	2021
Statement
CF Ops net Income	$1.1B	$1.0B	$887.0M	$837.0M	$1.4B
CF Ops DA	$1.3B	$1.2B	$1.2B	$1.1B	$1.1B
CF Ops Deferred Tax	$207.0M	$146.0M	$145.0M	$69.0M	$98.0M
CF Ops Working Capital	$28.0M	$-164.0M	$-185.0M	$450.0M	$93.0M
CF Ops net Cash	$2.2B	$2.4B	$2.3B	$855.0M	$1.8B
CF Inv Other	$214.0M	$160.0M	$167.0M	$107.0M	$133.0M
CF Inv net Cash	$-4.0B	$-3.1B	$-3.4B	$-2.5B	$-1.2B
CF Fin Debt Issuance	$3.6B	$2.0B	$3.6B	$1.9B	$335.0M
CF Fin Debt Repayment	$1.1B	$952.0M	$2.1B	$106.0M	$235.0M
CF Fin Stock Issuance	$525.0M	$286.0M	$192.0M	$69.0M	$26.0M
CF Fin Other	$-65.0M	$-21.0M	$-42.0M	$-58.0M	$-54.0M
CF Fin net Cash	$2.2B	$614.0M	$1.1B	$1.3B	$-295.0M
CF FX Effect	$615.0M	$178.0M	$248.0M	$182.0M	$476.0M
CF net Change	$437.0M	$-70.0M	$66.0M	$-294.0M	$291.0M
CF Cash Begin	$615.0M	$178.0M	$248.0M	$182.0M	$476.0M
CF Cash End	$615.0M	$178.0M	$248.0M	$182.0M	$476.0M

Stock Data

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Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

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