# CMS ENERGY CORP (CMS) · Edgar & Edgarette company card

> Cms Energy (CMS) grew revenue 13.6% in FY2025 to $8.5 billion, operating margin 20.2%, in line with the 20.2% median for electric & other services combined, equity 22.9% of assets, and dividend per share up 17 years running. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 811156 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/CMS) · [JSON](https://www.pops4.com/boards/company/CMS.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $8.5B |
| Revenue growth, 1 year | 13.6% |
| Revenue growth per year | 3.9% |
| Operating margin | 20.2% (prior year 19.8%) |
| Net margin | 12.5% |
| Operating cash flow | $2.2B |
| Capital spending | — |
| Free cash flow | — |
| Cash | $509M |
| Long-term debt | $18.8B |
| Total assets | $39.9B |
| Total equity | $9.1B |
| Equity ÷ assets | 22.9% |
| Return on equity | 11.7% |
| Dividend per share | $2.17 |
| Dividend years rising | 17 |

## Readings, computed from those figures

- Piotroski F: 5 of 9 (middling)
- Health Harbor boat: Sound ship · one warning sign · slow and jumpy: growing slower than its size class, with revenue that swings more
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

Exposure: revenue $8.5B (FY2025), total debt $18.8B. Experience: revenue up 13.6% on the year, up 3.9% a year over 4 years; operating margin 20.2%, up from 19.8%. Soundness: equity 22.9% of assets, return on equity 11.7%, dividend per share up 17 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $7.5B and $10.5B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $6.6B to $11.9B. A statistical range, not company guidance. Against peers (18 filers, $50M+ revenue, electric & other services combined): operating margin 20.2% against a 20.2% median; growth 13.6% against 13.8%.

Range logged 2026-09-26, receipt 394b261b2710e5ea, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 2, latest 2026-06-03 ([filing](https://www.sec.gov/Archives/edgar/data/811156/000110465926070037/0001104659-26-070037-index.htm))

## Recent filings

- 8-K · filed 2026-11-03 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/811156/000110465926121839/0001104659-26-121839-index.htm)
- 10-Q · filed 2026-10-27 · [filing](https://www.sec.gov/Archives/edgar/data/811156/000081115626000032/0000811156-26-000032-index.htm)
- 8-K · filed 2026-10-27 · 2.02 Results of Operations and Financial Condition; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/811156/000110465926118972/0001104659-26-118972-index.htm)
- 10-Q · filed 2026-07-28 · [filing](https://www.sec.gov/Archives/edgar/data/811156/000081115626000028/0000811156-26-000028-index.htm)
- 8-K · filed 2026-07-28 · 2.02 Results of Operations and Financial Condition; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/811156/000110465926087288/0001104659-26-087288-index.htm)
- 8-K · filed 2026-06-03 · 5.02 Departure or Election of Directors; Appointment of Officers; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/811156/000110465926070037/0001104659-26-070037-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0000811156.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=811156

## Cite

POPS4, Edgar & Edgarette: CMS ENERGY CORP (CMS) company card, from the company's own SEC filings, accessed 2026-11-11, https://www.pops4.com/boards/company/CMS. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.