CMS Energy Ratios and Metrics

Market cap in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb '26 Feb 20, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	23,245	21,281	19,914	16,943	18,382	18,845
Market Cap Growth	15.91%	6.87%	17.54%	-7.83%	-2.46%	7.88%
Enterprise Value	41,659	39,787	36,423	33,049	32,784	32,190
PE Ratio	21.49	20.06	20.05	19.32	22.23	13.98
PS Ratio	2.72	2.49	2.65	2.27	2.14	2.57
PB Ratio	2.61	2.19	2.28	2.09	2.42	2.62
P/OCF Ratio	10.40	9.52	8.40	7.34	21.50	10.36
EV/Sales Ratio	4.88	4.66	4.85	4.43	3.81	4.39
EV/EBITDA Ratio	13.80	13.18	13.48	13.38	13.53	14.06
EV/EBIT Ratio	21.78	20.80	22.00	23.36	22.94	24.55
Debt / Equity Ratio	1.95	1.95	1.90	1.93	1.89	1.74
Debt / EBITDA Ratio	5.98	5.98	5.87	6.03	5.63	5.19
Net Debt / Equity Ratio	1.90	1.90	1.89	1.90	1.87	1.68
Net Debt / EBITDA Ratio	6.10	6.10	6.10	6.25	5.85	5.26
Net Debt / FCF Ratio	-11.59	-11.59	-25.44	-16.97	-9.33	-46.89
Quick Ratio	0.52	0.52	0.33	0.40	0.58	0.63
Current Ratio	0.98	0.98	0.79	0.98	1.15	1.19
Asset Turnover	0.23	0.23	0.22	0.23	0.29	0.25
Return on Equity (ROE)	10.86%	10.86%	11.22%	10.27%	10.95%	10.98%
Return on Assets (ROA)	3.15%	3.15%	2.98%	2.73%	2.97%	2.80%
Return on Capital Employed (ROCE)	5.30%	5.30%	5.10%	4.60%	5.00%	4.90%
Earnings Yield	4.56%	5.03%	5.04%	5.24%	4.55%	7.18%
FCF Yield	-6.84%	-7.47%	-3.25%	-5.37%	-8.26%	-1.36%
Dividend Yield	3.01%	3.10%	3.19%	3.58%	3.20%	3.03%
Payout Ratio	62.25%	61.91%	62.41%	65.28%	64.99%	37.55%
Buyback Yield / Dilution	-0.91%	-0.91%	-2.26%	-0.59%	-0.17%	-1.12%
Total Shareholder Return	2.10%	2.20%	0.92%	2.99%	3.02%	1.91%

Updated Feb 5, 2026. Source: S&P Global Market Intelligence. Utility template. Financial Sources.

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