CMS Energy
CMS Energy Corporation (NYSE: CMS) is an energy company operating primarily in Michigan and the parent of Consumers Energy and NorthStar Clean Energy. Consumers is an electric and natural gas utility that serves residential, commercial, and industrial customers, while NorthStar develops and operates independent power… From the company’s description.
In fiscal 2025, CMS Energy reported revenue of $8.54B, up 13.6% from fiscal 2024, and net income of $1.00B. Its operating margin was 20.2%, and operations generated $2.23B in cash. Over the twelve months to Jun 30, 2026, revenue was $8.81B.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What CMS Energy does
In the company’s own words
CMS Energy Corporation (NYSE: CMS) is an energy company operating primarily in Michigan and the parent of Consumers Energy and NorthStar Clean Energy. Consumers is an electric and natural gas utility that serves residential, commercial, and industrial customers, while NorthStar develops and operates independent power and renewable generation projects and markets power. CMS Energy reports three business segments: electric utility, gas utility, and NorthStar Clean Energy. In 2025, Consumers’ electric and gas utility operations generated $5.6 billion and $2.5 billion in operating revenue, respectively; NorthStar Clean Energy generated $408 million. Consumers generates, purchases, distributes, and sells electricity and purchases, transports, stores, and distributes natural gas across Michigan’s Lower Peninsula. It served 1.9 million electric customers and 1.8 million gas customers in 2025. NorthStar’s portfolio includes natural gas, solar, wind, and other generation projects. CMS Energy reported consolidated operating revenue of $8.5 billion in 2025. Consumers, which has served Michigan customers since 1886, accounts for the substantial majority of CMS Energy’s assets, income, and revenue. Its website is www.cmsenergy.com.
Company details
- Sector
- Utilities
- Industry (SIC)
- Electric, Gas & Water
- Headquarters
- JACKSON, MI
- Fiscal year end
- December
- CIK
- 811156
- SIC
- 4931
Financial performance, year by year
Fiscal 2013–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns CMS Energy — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · CMS Energy’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
CMS Energy’s bonds, as funds hold them
Funds report holding 35 issues of CMS Energy’s debt, $2.43B at market value — what funds hold, not the company’s total debt. Weighted-average coupon 4.56%, maturing 2026 to 2064.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
Compare this company with peers, find it in your funds and follow its financial history with your connected AI:
- “How do CMS Energy and its peers compare on margins and cash generation over ten years?”
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- “What changed in CMS Energy's last four quarterly filings that the numbers alone won't show?”