ATI Advisory analyzed 1.19 million MSSP shadow bundles worth $34.61 billion in spending, finding that Medicare ACO costs are concentrated in specific medical conditions and post-acute care settings. The analysis reveals high readmission rates and significant post-acute care utilization variation, presenting opportunities for ACOs to manage episode-level performance under CMS's new LEAD model with specialty integration and accountability mechanisms.
CMS Energy Corporation (CMS)
Common Stock · Currency in USD · XNYS
CMS Energy is an energy holding company with three principal businesses. Its regulated utility, Consumers Energy, provides regulated natural gas service to 1.8 million customers and electric service to 1.9 million customers in Michigan. NorthStar Clean Energy, formerly CMS Enterprises, is engaged in wholesale power generation, including contracted renewable energy. CMS sold EnerBank in October 2021.
Company Info
SIC4931
Composite FIGIBBG000BFVXX0
CIK0000811156
IPOJun 1, 1972
Sectorelectric & other services combined
Highlights
Market Cap$24.20B
EPS$3.68
P/E Ratio22.24
Revenue$7.72B
Gross Profit$8.08B
Net Income$1.09B
Employees8,350
WSO307,996,655
Phone(517) 788-0550
Websitehttps://www.cmsenergy.com
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Analysis
Share Price Chart
Performance Chart
The chart shows the growth of an initial investment of $10,000 in CMS Energy Corporation, comparing it to the performance of the S&P 500 index.
All prices have been adjusted for splits and dividends.
Returns By Period
CMS Energy Corporation (CMS) has returned 12.40% so far this year and 9.66% over the past 12 months. Looking at the last ten years, CMS has achieved an annualized return of 6.28%, underperforming the Benchmark (SPY), which averaged 12.23% per year.
CMS
1M2.96%
6M8.39%
YTD12.40%
1Y9.66%
5Y5.20%
10Y6.28%
Benchmark (SPY)
1M-2.61%
6M-2.35%
YTD-4.36%
1Y34.06%
5Y9.80%
10Y12.23%
Monthly Returns
The table below presents the monthly returns of CMS Energy Corporation (CMS) with color gradation from worst to best to easily spot seasonal factors.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.26% | 8.46% | -0.59% | 1.96% | ||||||||
| 2025 | -1.89% | 11.19% | 3.30% | -1.67% | -4.45% | -0.76% | 6.14% | -3.48% | 2.63% | 0.81% | 4.72% | -6.80% |
| 2024 | -1.18% | 0.21% | 5.18% | 0.36% | 4.05% | -5.40% | 8.32% | 4.22% | 3.96% | -1.39% | -0.14% | -4.36% |
| 2023 | -0.49% | -6.01% | 4.82% | 2.13% | -6.53% | 1.17% | 4.54% | -7.99% | -6.08% | 2.80% | 4.22% | 2.40% |
| 2022 | -0.92% | -0.25% | 8.87% | -1.48% | 2.72% | -5.38% | 1.28% | -1.44% | -13.77% | -3.91% | 6.65% | 2.83% |
| 2021 | -6.20% | -5.25% | 12.17% | 5.37% | -3.03% | -6.19% | 4.37% | 3.40% | -6.95% | 0.17% | -2.49% | 9.92% |
| 2020 | 8.99% | -11.95% | -3.05% | 0.81% | 3.57% | -0.27% | 9.88% | -6.62% | 1.64% | 2.99% | -3.74% | -1.21% |
| 2019 | 5.29% | 4.49% | 1.91% | 0.02% | 1.35% | 3.08% | 0.76% | 9.05% | 1.40% | 0.24% | -4.22% | 2.30% |
| 2018 | -5.57% | -5.05% | 6.59% | 3.90% | -1.96% | 2.54% | 2.03% | 2.56% | -0.73% | 1.37% | 6.05% | -4.50% |
| 2017 | 2.31% | 6.00% | 1.68% | 1.43% | 3.65% | -2.43% | -0.17% | 4.88% | -4.75% | 4.20% | 2.89% | -5.57% |
| 2016 | -4.03% | 2.68% | 9.79% | -1.97% | -6.84% | 0.14% | 0.55% | -4.56% | 4.18% |
Performance Indicators
The charts below present risk-adjusted performance metrics for CMS Energy Corporation (CMS) and compare them to a Benchmark (SPY). These indicators evaluate an investment's returns against its associated risks.
Sharpe ratio
Sortino ratio
Omega ratio
Calmar ratio
Martin ratio
sharpe ratio
The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.
These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns.
The chart below shows the rolling Sharpe ratio of CMS compared to the benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.
Volatility Chart
The current CMS Energy Corporation volatility is 1.16%, representing the standart deviation of percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. It shows the maximum percentage drop from a peak to a trough over a specified period, indicating the risk of significant losses.
Although chart shows positive values, it represents the percentage drop from the peak, so a value of 10% means the portfolio has dropped 10% from its highest point.
Income Statement
The income statement provides a summary of a company's revenues, expenses, and profits over a specific period. It shows how much money the company earned (revenues) and how much it spent (expenses), leading to the net income or profit. This statement is crucial for understanding a company's financial performance and profitability.
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities And Equity (USD) | 39.94B | 35.92B | 33.52B | 31.35B | 28.75B | 29.67B | 26.84B | 24.53B | 23.05B | 21.62B | 20.34B | 19.19B | 17.42B | 17.13B | 16.45B |
| Equity Attributable To Parent (USD) | 9.14B | 8.23B | 7.54B | 7.02B | 6.63B | 5.50B | 5.02B | 4.76B | 4.44B | 4.25B | 3.94B | 3.67B | 3.45B | 3.19B | 3.03B |
| Equity Attributable To Noncontrolling Interest (USD) | 567.00M | 518.00M | 581.00M | 580.00M | 557.00M | 581.00M | 37.00M | 37.00M | 37.00M | 37.00M | 37.00M | 37.00M | 37.00M | 44.00M | 44.00M |
| Equity (USD) | 9.71B | 8.75B | 8.13B | 7.60B | 7.19B | 6.08B | 5.06B | 4.79B | 4.48B | 4.29B | 3.98B | 3.71B | 3.49B | 3.24B | 3.07B |
| Other Non-current Liabilities (USD) | - | - | - | - | - | - | - | - | - | - | - | - | 4.34B | 4.87B | 3.97B |
| Long-term Debt (USD) | - | - | - | - | - | - | - | - | - | - | - | - | 7.64B | 7.23B | 7.07B |
| Noncurrent Liabilities (USD) | 26.68B | 23.65B | 22.50B | 20.77B | 19.36B | 20.52B | 19.08B | 17.11B | 15.79B | 14.68B | 14.06B | 13.46B | 11.98B | 12.10B | 11.04B |
| Other Current Liabilities (USD) | 3.37B | 3.37B | 2.75B | 1.94B | 1.22B | 2.30B | 1.98B | 1.81B | 1.96B | 1.96B | 1.56B | 1.23B | 1.26B | 1.19B | 1.66B |
| Interest Payable (USD) | 182.00M | 156.00M | 142.00M | 122.00M | 107.00M | 106.00M | 104.00M | 94.00M | 103.00M | 98.00M | 106.00M | 108.00M | 96.00M | 95.00M | 101.00M |
| Accounts Payable (USD) | - | - | - | 928.00M | 875.00M | 671.00M | 622.00M | 723.00M | 725.00M | 598.00M | 633.00M | 678.00M | 585.00M | 512.00M | 575.00M |
| Current Liabilities (USD) | 3.55B | 3.52B | 2.90B | 2.99B | 2.20B | 3.07B | 2.70B | 2.62B | 2.78B | 2.66B | 2.30B | 2.01B | 1.95B | 1.80B | 2.34B |
| Liabilities (USD) | 30.23B | 27.17B | 25.39B | 23.76B | 21.57B | 23.59B | 21.78B | 19.74B | 18.57B | 17.33B | 16.37B | 15.48B | 13.93B | 13.89B | 13.38B |
| Other Non-current Assets (USD) | 5.79B | 5.67B | 5.61B | 5.21B | 3.77B | 6.22B | 5.58B | 3.94B | 3.81B | 3.63B | 3.32B | - | - | - | - |
| Fixed Assets (USD) | 30.68B | 27.46B | 25.07B | 22.71B | 22.35B | 21.04B | 18.93B | 18.13B | 16.76B | 15.72B | 14.71B | 13.41B | 12.25B | 11.55B | 10.63B |
| Noncurrent Assets (USD) | 36.47B | 33.13B | 30.68B | 27.92B | 26.13B | 27.26B | 24.51B | 22.06B | 20.58B | 19.34B | 18.02B | 3.18B | 2.64B | 3.16B | 3.25B |
| Current Assets (USD) | 3.47B | 2.79B | 2.84B | 3.43B | 2.63B | 2.40B | 2.33B | 2.47B | 2.48B | 2.28B | 2.32B | 2.60B | 2.53B | 2.42B | 2.57B |
| Assets (USD) | 39.94B | 35.92B | 33.52B | 31.35B | 28.75B | 29.67B | 26.84B | 24.53B | 23.05B | 21.62B | 20.34B | 19.19B | 17.42B | 17.13B | 16.45B |
News and Insights
CMS Energy's Board of Directors has declared a quarterly dividend of $0.2625 per depositary share on its 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C. The dividend is payable on April 15, 2026, to shareholders of record as of April 1, 2026.
Consumers Energy, the principal subsidiary of CMS Energy, has declared a quarterly dividend on preferred stock of $1.125 per share on the $4.50 preferred stock, payable April 1, 2026, to shareholders of record as of March 2, 2026.
CMS Energy's Board of Directors Increases Quarterly Dividend on Common Stock to 57 Cents Per Sharepositive
CMS Energy announced an increase in its quarterly dividend on common stock to 57 cents per share, up from 54.25 cents per share. The annualized dividend is now $2.28 per share, representing a 3.2% yield based on the stock's closing price of $71.60. The first quarter dividend is payable February 27, 2026, to shareholders of record as of February 17, 2026.
CMS Energy's Board of Directors announced a quarterly dividend of 54.25 cents per share, payable on November 26, 2025, to shareholders of record as of November 7, 2025.
CMS Energy's Board of Directors declared a quarterly dividend of $0.2625 per depositary share for its 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C, payable on October 15, 2025, to shareholders of record as of October 1, 2025.
CMS Energy's subsidiary Consumers Energy announced a quarterly dividend of $1.125 per share on its $4.50 preferred stock, payable on October 1, 2025, to shareholders of record as of September 2, 2025.
CMS Energy has declared a quarterly dividend on its 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C, payable on July 15, 2025 to shareholders of record on July 1, 2025.
Consumers Energy, a subsidiary of CMS Energy, has declared a quarterly dividend on its preferred stock, payable on July 1, 2025, to shareholders of record on June 2, 2025.
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