Summary
CMS Energy Corporation (CMS) reported solid financial performance for 2025, with consolidated operating revenue reaching $8.5 billion, an increase from $7.5 billion in 2024. The company's primary subsidiary, Consumers Energy, continues to be the main driver of revenue and assets, serving millions of customers in Michigan with both electric and gas utility services. CMS Energy is actively engaged in a significant transition towards cleaner energy sources, with ambitious goals to achieve 60% renewable energy by 2035 and 100% clean energy by 2040, reflecting a commitment to sustainability alongside its core business operations. The company is also investing heavily in infrastructure upgrades to enhance reliability and meet future energy demands, including the integration of renewable generation and energy storage solutions. Financially, CMS Energy demonstrated growth in net income to $1.1 billion in 2025 from $993 million in 2024, with diluted EPS rising to $3.53 from $3.33. This growth was supported by higher electric and gas sales, favorable weather conditions, and implemented rate increases, partially offset by increased operating expenses such as depreciation and higher interest costs. The company's capital expenditure plan for the next five years is substantial, projected at $25.8 billion, with a significant portion allocated to modernizing its electric and gas infrastructure and advancing its clean energy initiatives, signaling a strong focus on long-term growth and operational improvements.
Financial Highlights
42 data points| Revenue | $8.54B |
| Operating Expenses | $6.81B |
| Operating Income | $1.73B |
| Interest Expense | $798.00M |
| Net Income | $1.07B |
| EPS (Basic) | $3.53 |
| EPS (Diluted) | $3.53 |
| Shares Outstanding (Basic) | 300.40M |
| Shares Outstanding (Diluted) | 301.00M |
Key Highlights
- 1Consolidated operating revenue increased to $8.5 billion in 2025 from $7.5 billion in 2024, indicating revenue growth.
- 2Net income available to common stockholders rose to $1.1 billion in 2025 from $993 million in 2024, demonstrating improved profitability.
- 3Diluted earnings per share increased to $3.53 in 2025 from $3.33 in 2024, reflecting enhanced shareholder value.
- 4CMS Energy is progressing towards its clean energy goals, aiming for 60% renewable energy by 2035 and 100% clean energy by 2040, highlighting a commitment to sustainability.
- 5The company plans significant capital expenditures of $25.8 billion over the next five years, with a substantial portion dedicated to infrastructure upgrades and clean energy investments.
- 6Consumers Energy's electric utility operations generated $5.6 billion in revenue in 2025, and its gas utility operations generated $2.5 billion, underscoring the core utility business's contribution.
- 7NorthStar Clean Energy, the non-utility segment, reported operating revenue of $408 million in 2025, showcasing diversification and contributions from independent power production.