Financials in USD. Standardized financial statements.
A compact view of how CMS Energy Corporation turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $8.54B | $7.51B | $7.46B | $8.60B | $7.33B | $6.42B | $6.62B | $6.87B | $6.58B | $6.40B |
| Revenue Growth? | +13.6% | +0.7% | -13.2% | +17.3% | +14.2% | -3.1% | -3.6% | +4.4% | +2.9% | 0.0% |
| Cost of Revenue? | $3.34B | $4.31B | $4.60B | $5.83B | $4.68B | $3.79B | $4.19B | $4.47B | $4.08B | $4.05B |
| Gross Profit? | $5.20B | $3.21B | $2.86B | $2.76B | $2.65B | $2.63B | $2.44B | $2.40B | $2.50B | $2.35B |
| Gross Margin? | +60.9% | +42.7% | +38.4% | +32.1% | +36.1% | +41.0% | +36.8% | +34.9% | +38.0% | +36.7% |
| Operating Expenses? | $3.47B | $1.72B | $1.63B | $1.54B | $1.50B | $1.40B | $1.32B | $1.24B | $1.17B | $1.09B |
| Operating Income? | $1.73B | $1.49B | $1.24B | $1.22B | $1.15B | $1.23B | $1.11B | $1.16B | $1.34B | $1.26B |
| EBITDA? | $3.19B | $3.07B | $2.78B | $2.55B | $2.44B | $2.36B | $2.21B | $2.17B | $2.21B | $2.07B |
| Income Before Tax | $1.25B | $1.12B | $954.00M | $902.00M | $823.00M | $809.00M | $764.00M | $774.00M | $886.00M | $826.00M |
| Income Tax Expense | $246.00M | $176.00M | $147.00M | $93.00M | $95.00M | $115.00M | $131.00M | $115.00M | $424.00M | $273.00M |
| Net Income? | $1.07B | $1.00B | $887.00M | $837.00M | $1.35B | $755.00M | $680.00M | $657.00M | $460.00M | $551.00M |
| EPS? | $3.53 | $3.34 | $3.01 | $2.84 | $4.66 | $2.65 | $2.40 | $2.33 | $1.64 | $1.99 |
| Diluted EPS? | $3.53 | $3.33 | $3.01 | $2.85 | $4.66 | $2.64 | $2.39 | $2.32 | $1.64 | $1.98 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality