CMS Energy Corporation (CMS) — Capital Reinvestment Ratio
CMS Energy Corporation (CMS) has a Capital Reinvestment Ratio of 1.55x as of June 2026, meaning it reinvests 2% of its operating cash flow ($622.00 Million) in capital expenditures ($967.00 Million). Check tangible equity quality of CMS Energy Corporation to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
CMS Energy Corporation Capital Reinvestment Ratio (1994–2025)
This chart tracks CMS Energy Corporation's Capital Reinvestment Ratio across 31 annual periods. For the full cash flow conversion analysis, see CMS cash flow conversion.
Annual Capital Reinvestment Ratio for CMS Energy Corporation (1994–2025)
Year-by-year Capital Reinvestment Ratio for CMS Energy Corporation from 1994 to 2025. See CMS free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 1.71x | $2.23 Billion | $3.82 Billion | ▲ +34.4% |
| 2024 | 1.27x | $2.37 Billion | $3.02 Billion | ▼ -8.7% |
| 2023 | 1.39x | $2.31 Billion | $3.22 Billion | ▼ -52.0% |
| 2022 | 2.90x | $855.00 Million | $2.48 Billion | ▲ +138.9% |
| 2021 | 1.21x | $1.82 Billion | $2.21 Billion | ▼ -36.7% |
| 2020 | 1.92x | $1.28 Billion | $2.45 Billion | ▲ +53.6% |
| 2019 | 1.25x | $1.79 Billion | $2.24 Billion | ▲ +2.6% |
| 2018 | 1.22x | $1.70 Billion | $2.07 Billion | ▲ +24.7% |
| 2017 | 0.98x | $1.71 Billion | $1.67 Billion | ▼ -4.9% |
| 2016 | 1.03x | $1.63 Billion | $1.67 Billion | ▲ +7.6% |
| 2015 | 0.95x | $1.64 Billion | $1.56 Billion | ▼ -12.5% |
| 2014 | 1.09x | $1.45 Billion | $1.58 Billion | ▲ +16.9% |
| 2013 | 0.93x | $1.42 Billion | $1.32 Billion | ▼ -5.7% |
| 2012 | 0.99x | $1.24 Billion | $1.23 Billion | ▲ +31.0% |
| 2011 | 0.75x | $1.17 Billion | $882.00 Million | ▼ -11.9% |
| 2010 | 0.86x | $959.00 Million | $821.00 Million | ▼ -11.3% |
| 2009 | 0.96x | $848.00 Million | $818.00 Million | ▼ -31.9% |
| 2008 | 1.42x | $559.00 Million | $792.00 Million | ▼ -97.2% |
| 2007 | 50.96x | $27.00 Million | $1.38 Billion | ▲ +5133.2% |
| 2006 | 0.97x | $688.00 Million | $670.00 Million | ▼ -1.6% |
| 2005 | 0.99x | $599.00 Million | $593.00 Million | ▼ -24.9% |
| 2004 | 1.32x | $398.00 Million | $525.00 Million | ▲ +8.4% |
| 2002 | 1.22x | $614.00 Million | $747.00 Million | ▼ -59.8% |
| 2001 | 3.03x | $417.00 Million | $1.26 Billion | ▲ +32.8% |
| 2000 | 2.28x | $453.00 Million | $1.03 Billion | ▲ +85.9% |
| 1999 | 1.23x | $917.00 Million | $1.12 Billion | ▼ -51.2% |
| 1998 | 2.51x | $516.00 Million | $1.29 Billion | ▲ +131.0% |
| 1997 | 1.09x | $624.00 Million | $678.00 Million | ▲ +9.0% |
| 1996 | 1.00x | $661.00 Million | $659.00 Million | ▲ +27.1% |
| 1995 | 0.78x | $682.00 Million | $535.00 Million | ▼ -16.5% |
| 1994 | 0.94x | $612.00 Million | $575.00 Million | — |