CMS ENERGY CORP
CMS, CMSA, CMSC, CMSD, CMS-PC · Electric & Other Services Combined · 308.9M shares · +1%/yr ↑ shares · EDGAR filings ↗
Reference price $74.31 · est. market cap ~$23.0B — last insider sale, 2026-05-26 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B72Well-run regulated electric/gas utility with top-decile sector ROE and steady, rate-base-driven growth.
Strengths
- ROE 11.7% (88th pct) with net margin 12.9% (65th pct) and revenue growth 13% (60th pct)
- Solid operating cash margin (27%) and reliable regulated earnings base
Risks
- Debt/equity 1.95 (100th pct) and current ratio <1 reflect capital-intensive, leveraged utility model
- ROIC only 5.1% (46th pct) and ROA mid-pack — returns rest heavily on financial leverage
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
20.2%
Net margin
12.5%
Return on equity
11.7%
Return on assets
2.7%
ROIC
5.1%
Revenue growth (QoQ)
22.3%
Net-income growth
6.8%
Debt / equity
1.9×
Net debt / EBITDA
5.7×
Current ratio
1.0×
EBITDA
$3.0B
Tangible book value
$9.1B
Cash & investments
$509M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | MADDIPATI SRIKANTH | Grant | 10K | — |
| 2026-05-26 | Hofmeister Brandon J. | Sell | 3.0K | $74.31 |
| 2026-05-08 | Keyes Richard Patrick | Grant | 2.4K | — |
| 2026-05-08 | SHANK SUZANNE F. | Grant | 2.4K | — |
| 2026-05-08 | Soto Myrna | Grant | 2.4K | — |
| 2026-05-08 | Leopold Diane | Grant | 2.4K | — |
| 2026-05-08 | Butler Deborah H | Grant | 2.4K | — |
| 2026-05-08 | Sznewajs John G | Grant | 2.4K | — |
| 2026-05-08 | Wright Laura | Grant | 2.4K | — |
| 2026-05-08 | IZZO RALPH | Grant | 2.4K | — |
| 2026-05-08 | TANSKI RONALD J | Grant | 2.4K | — |
| 2026-05-08 | RUSSELL JOHN G | Grant | 2.4K | — |
| 2026-03-26 | Snyder Lauren Y | Grant | 674 | — |
| 2026-03-26 | Snyder Lauren Y | Tax withheld | 574 | $76.33 |
| 2026-03-26 | Berry Tonya L | Grant | 2.0K | — |
| 2026-03-26 | Berry Tonya L | Tax withheld | 2.6K | $76.33 |
| 2026-03-26 | McIntosh Scott B | Grant | 1.0K | — |
| 2026-03-26 | McIntosh Scott B | Tax withheld | 1.2K | $76.33 |
| 2026-03-26 | Johnson Shaun M | Grant | 3.3K | — |
| 2026-03-26 | Johnson Shaun M | Tax withheld | 4.3K | $76.33 |
| 2026-03-26 | Hofmeister Brandon J. | Grant | 2.9K | — |
| 2026-03-26 | Hofmeister Brandon J. | Tax withheld | 3.8K | $76.33 |
| 2026-03-26 | Rochow Garrick J | Grant | 20K | — |
| 2026-03-26 | Rochow Garrick J | Tax withheld | 26K | $76.33 |
| 2026-03-26 | Hayes Rejji P | Grant | 6.3K | — |
| 2026-03-26 | Hayes Rejji P | Tax withheld | 8.3K | $76.33 |
| 2026-03-02 | McIntosh Scott B | Sell | 1.8K | $78.20 |
| 2026-02-27 | Hofmeister Brandon J. | Sell | 4.0K | $78.23 |
| 2026-02-27 | Hofmeister Brandon J. | Gift | 2 | — |
| 2026-02-27 | Hofmeister Brandon J. | Gift | 2 | — |
| 2026-02-25 | Leopold Diane | Buy | 2.0K | $76.70 |
| 2026-02-20 | Keyes Richard Patrick | Grant | 769 | — |
| 2026-02-20 | Leopold Diane | Grant | 769 | — |
| 2026-02-20 | RUSSELL JOHN G | Sell | 15K | $75.75 |
| 2026-01-29 | Thomas Shannon | Grant | 7.8K | — |
| 2026-01-29 | Snyder Lauren Y | Grant | 3.5K | — |
| 2026-01-29 | Berry Tonya L | Grant | 20K | — |
| 2026-01-29 | McIntosh Scott B | Grant | 5.0K | — |
| 2026-01-29 | Johnson Shaun M | Grant | 20K | — |
| 2026-01-29 | Hofmeister Brandon J. | Grant | 14K | — |
| 2026-01-29 | Rochow Garrick J | Grant | 123K | — |
| 2026-01-29 | Hayes Rejji P | Grant | 33K | — |
| 2026-01-26 | Snyder Lauren Y | Grant | 77 | — |
| 2026-01-26 | Snyder Lauren Y | Tax withheld | 747 | $71.53 |
| 2026-01-26 | Berry Tonya L | Grant | 230 | — |
| 2026-01-26 | Berry Tonya L | Tax withheld | 3.0K | $71.53 |
| 2026-01-26 | McIntosh Scott B | Grant | 117 | — |
| 2026-01-26 | McIntosh Scott B | Tax withheld | 1.4K | $71.53 |
| 2026-01-26 | Johnson Shaun M | Grant | 374 | — |
| 2026-01-26 | Johnson Shaun M | Tax withheld | 4.8K | $71.53 |
| 2026-01-26 | Hofmeister Brandon J. | Grant | 326 | — |
| 2026-01-26 | Hofmeister Brandon J. | Tax withheld | 4.2K | $71.53 |
| 2026-01-26 | Rochow Garrick J | Grant | 2.2K | — |
| 2026-01-26 | Rochow Garrick J | Tax withheld | 28K | $71.53 |
| 2026-01-26 | Hayes Rejji P | Grant | 719 | — |
| 2026-01-26 | Hayes Rejji P | Tax withheld | 9.2K | $71.53 |
| 2025-11-03 | Hofmeister Brandon J. | Sell | 3.8K | $72.47 |
| 2025-11-03 | Hofmeister Brandon J. | Sell | 223 | $72.48 |
| 2025-09-10 | Johnson Shaun M | Gift | 715 | — |
| 2025-09-05 | Snyder Lauren Y | Sell | 2.2K | $71.26 |
| 2025-08-08 | Hofmeister Brandon J. | Sell | 2.0K | $73.62 |
| 2025-05-06 | Hofmeister Brandon J. | Sell | 2.2K | $73.61 |
| 2025-05-02 | Butler Deborah H | Grant | 2.4K | — |
| 2025-05-02 | Soto Myrna | Grant | 2.4K | — |
| 2025-05-02 | IZZO RALPH | Grant | 2.4K | — |
| 2025-05-02 | Wright Laura | Grant | 2.4K | — |
| 2025-05-02 | SHANK SUZANNE F. | Grant | 2.4K | — |
| 2025-05-02 | DARROW KURT L | Grant | 2.4K | — |
| 2025-05-02 | RUSSELL JOHN G | Grant | 2.4K | — |
| 2025-05-02 | Sznewajs John G | Grant | 2.4K | — |
| 2025-05-02 | TANSKI RONALD J | Grant | 2.4K | — |
| 2025-03-21 | Berry Tonya L | Grant | 2.2K | — |
| 2025-03-21 | Berry Tonya L | Tax withheld | 2.2K | $73.50 |
| 2025-03-21 | McIntosh Scott B | Grant | 1.3K | — |
| 2025-03-21 | McIntosh Scott B | Tax withheld | 1.3K | $73.50 |
| 2025-03-21 | Wells LeeRoy Jr | Grant | 3.5K | — |
| 2025-03-21 | Wells LeeRoy Jr | Tax withheld | 3.6K | $73.50 |
| 2025-03-21 | Johnson Shaun M | Grant | 3.9K | — |
| 2025-03-21 | Johnson Shaun M | Tax withheld | 4.0K | $73.50 |
| 2025-03-21 | Hofmeister Brandon J. | Grant | 3.9K | — |
| 2025-03-21 | Hofmeister Brandon J. | Tax withheld | 4.0K | $73.50 |
| 2025-03-21 | Rochow Garrick J | Grant | 25K | — |
| 2025-03-21 | Rochow Garrick J | Tax withheld | 26K | $73.50 |
| 2025-03-21 | Hayes Rejji P | Grant | 8.2K | — |
| 2025-03-21 | Hayes Rejji P | Tax withheld | 8.5K | $73.50 |
| 2025-03-03 | Hofmeister Brandon J. | Sell | 2.0K | $73.77 |
| 2025-02-19 | Wright Laura | Sell | 597 | $69.84 |
| 2025-02-19 | Wright Laura | Sell | 100 | $69.84 |
| 2025-02-19 | Wright Laura | Sell | 1.8K | $69.84 |
| 2025-02-13 | McIntosh Scott B | Sell | 6.7K | $69.76 |
| 2025-01-30 | McIntosh Scott B | Grant | 5.0K | — |
| 2025-01-30 | Berry Tonya L | Grant | 12K | — |
| 2025-01-30 | Wells LeeRoy Jr | Grant | 16K | — |
| 2025-01-30 | Johnson Shaun M | Grant | 19K | — |
| 2025-01-30 | Hofmeister Brandon J. | Grant | 14K | — |
| 2025-01-30 | Hayes Rejji P | Grant | 32K | — |
| 2025-01-30 | Rochow Garrick J | Grant | 103K | — |
| 2025-01-29 | McIntosh Scott B | Grant | 92 | — |
| 2025-01-29 | McIntosh Scott B | Tax withheld | 1.3K | $65.77 |
| 2025-01-29 | Berry Tonya L | Grant | 155 | — |
| 2025-01-29 | Berry Tonya L | Tax withheld | 2.2K | $65.77 |
| 2025-01-29 | Wells LeeRoy Jr | Grant | 250 | — |
| 2025-01-29 | Wells LeeRoy Jr | Tax withheld | 2.4K | $65.77 |
| 2025-01-29 | Johnson Shaun M | Grant | 276 | — |
| 2025-01-29 | Johnson Shaun M | Tax withheld | 3.9K | $65.77 |
| 2025-01-29 | Hofmeister Brandon J. | Grant | 276 | — |
| 2025-01-29 | Hofmeister Brandon J. | Tax withheld | 3.9K | $65.77 |
| 2025-01-29 | Hendrian Catherine A | Grant | 228 | — |
| 2025-01-29 | Hendrian Catherine A | Tax withheld | 3.3K | $65.77 |
| 2025-01-29 | Hayes Rejji P | Grant | 587 | — |
| 2025-01-29 | Hayes Rejji P | Tax withheld | 8.2K | $65.77 |
| 2025-01-29 | Rochow Garrick J | Grant | 1.8K | — |
| 2025-01-29 | Rochow Garrick J | Tax withheld | 25K | $65.77 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-13 | 2026-05-13 | 0001104659-26-060321 ↗ |
| 8-K | 2026-02-11 | 2026-02-11 | 0001104659-26-013521 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001104659-25-107549 ↗ |
| 8-K | 2025-11-04 | 2025-11-04 | 0001104659-25-105878 ↗ |
| 8-K | 2025-11-03 | 2025-11-03 | 0001104659-25-105224 ↗ |
| 8-K | 2025-06-18 | 2025-06-18 | 0001104659-25-060708 ↗ |
| 8-K | 2025-06-04 | 2025-06-04 | 0001104659-25-056392 ↗ |
| 8-K | 2025-02-21 | 2025-02-21 | 0001104659-25-016142 ↗ |
| 8-K | 2023-12-07 | 2023-12-07 | 0001104659-23-124307 ↗ |
| 8-K | 2023-05-17 | 2023-05-17 | 0001104659-23-061950 ↗ |
| 8-K | 2023-05-05 | 2023-05-05 | 0001104659-23-056395 ↗ |
| 8-K | 2023-05-04 | 2023-05-03 | 0001104659-23-055752 ↗ |