CMS Energy Corporation

CMS

Regulated Electric · Utilities

Also trades as: 0HR4.L

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Good

Cash Flow

Good

Stability

Mixed

Valuation

Good

Dividends

Good

Track this stock — start free trial

Winston Score History

The full picture

CMS Energy is a utility company based in Michigan. Its main subsidiary, Consumers Energy, delivers electricity and natural gas to about 6.8 million people across Michigan — including homes, businesses, and factories. It is one of the largest combined electric and gas utilities in the United States.

CMS makes most of its money by charging customers for electricity and natural gas delivery under rates approved by Michigan regulators. Because it operates as a regulated utility, the government sets how much profit it can earn, which creates steady and predictable revenue. The company operates almost entirely within Michigan, which limits geographic risk but also limits growth. Its main growth driver is a long-term plan to invest billions in upgrading its power grid and expanding renewable energy, which regulators typically allow it to recover through rate increases. The main risk is that rising interest rates increase borrowing costs, since utilities like CMS carry significant debt to fund infrastructure projects.

Politician Trades

13 trades / 12mo

4 Congressional buys and 9 sells on CMS in the last 12 months.

Unlock the full Smart Money Map — every trade plotted on the price chart with politicians, amounts and returns since each trade. Founder's Deal is $57/mo locked for life.

Unlock politician trades

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-0.5% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-40.9% YoY

YoY Growth Rate

Earnings declining

Insider Activity

68.1%ownership

Insiders own a meaningful stake in the company

Cash Runway

~3 months

$304M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

CMS Energy Corporation has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

63.1%

Premium pricing power — 63.1% gross margin

Profit after running costs

Operating Margin

14.4%

Healthy — 14.4% operating margin

Return on the money invested

ROCE

5.8%

Weak — 5.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

+9.9%

Steady sales growth (+9.9% YoY)

Profit growth

EPS YoY

-0.3%

Earnings shrinking (-0.3% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

209%

Turns 209% of profit into real cash

Spare cash per sale

FCF Margin

-21.7%

Burning cash (-21.7%)

Free cash flow is negative. They are burning cash, not generating it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

1.95

Elevated debt (1.95)

Covers its interest

Interest Cover

2.05x

Tight — interest eats into profit (2.0x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

20.7x

no trend

Growth-priced — P/E 20.7

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+4.7

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (20.7 → 16.0)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend

Dividend Yield

3.17%

no trend

Moderate income — 3.17% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+5.1%

no trend

Dividend growing modestly (5.1% YoY)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial