CMS Energy Corporation (CMS)
NYSE · Utilities · market cap 22.42B
Share price
$70.78
At the last nightly close
Intrinsic value
$65.61
A single conservative estimate.
Margin of safety
-7.3%
($65.61 − $70.78) ÷ $70.78
EV / EBIT
33.7
On the median operating profit of 15 fiscal years through 2025.
How these numbers are computed
The valuations are calculated in Python from filed accounts, not written by a language model. Three methods run side by side: earnings power value, which capitalises a normalised operating profit; a free-cash-flow model; and the Graham Number as an asset-side cross-check. The conservative figure above starts from the lower of the first two; the Graham Number never enters it.
The frame gives no credit for growth unless the company has earned it: only a return on invested capital that has beaten the cost of capital year after year earns a growth credit, and that credit is capped. A company that compounds will therefore usually read as expensive against it — that is deliberate. It is a price-discipline floor, not a price target, and it is not a view on what the shares will do.
The EV/EBIT ranking uses the median operating profit of up to fifteen fiscal years — a full cycle — where the free screeners use the last twelve months. When the data cannot support a method, the figure reads n/a rather than a number: a free-cash-flow valuation on a bank, a PEG on erratic earnings, a multiple on a company with no operating profit to speak of.
Fundamentals from SEC EDGAR. Prices, market data and technicals from yfinance. Valuation computed 2026-11-03.
Key metrics
Market position
Annual financials
| Period | Revenue | Operating income | Net income | EPS | Free cash flow |
|---|---|---|---|---|---|
| 2025-FY | 8.54B | 1.73B | 1.07B | 3.53 | -1.80B |
| 2024-FY | 7.51B | 1.49B | 1.00B | 3.32 | -808.0M |
| 2023-FY | 7.46B | 1.24B | 887.0M | 2.98 | -1.08B |
| 2022-FY | 8.60B | 1.22B | 837.0M | 2.84 | -1.63B |
| 2021-FY | 7.33B | 1.15B | 1.35B | 4.66 | -257.0M |
Filed figures from SEC EDGAR, in the reporting currency.
Next earnings
Recent news
- CMS Stock Earnings: Financial Reports on | Stocks.Newsapp.stocks.news
- CMS Energy (CMS) Earnings: Latest Report, Earnings Call & Financialspublic.com
- CMS ENERGY ($CMS) Releases Q3 2026 Earnings | Quiver Quantitativequiverquant.com
- CMS Energy Corporation - CMS Energy Announces First Quarter Results for 2026, Reaffirms 2026 Adjusted EPS Guidancecmsenergy.com
- CMS Energy Corporation (CMS) Stock Price, News, Quote & History - Yahoo Financefinance.yahoo.com
Headlines link to their source. Sperio does not republish article text.
The figures above are the arithmetic. To see what a board of eight AI agents makes of them — macro, sector, filings, news and a devil's advocate whose only job is to attack the thesis — run the full analysis on CMS.
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This page presents computed figures and filed financial data for information only. It is not investment advice, not a recommendation to buy or sell any security, and not a statement about what these shares will do. Sperio is a research tool, not an investment adviser. Figures are derived automatically from public filings and market data and may be incomplete, out of date or wrong. See the Terms & Disclaimer.