CMS Energy Corporation
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and NorthStar Clean Energy. The Electric Utility segment is involved in the generation, purchase, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources. Its di… Read more
CMS Energy Corporation (CMS) - Net Assets
Latest net assets as of December 2025: $9.71 Billion USD
Based on the latest financial reports, CMS Energy Corporation (CMS) has net assets worth $9.71 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($40.39 Billion) and total liabilities ($30.68 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $9.71 Billion |
| % of Total Assets | 24.04% |
| Annual Growth Rate | 7.26% |
| 5-Year Change | 35.1% |
| 10-Year Change | 126.36% |
| Growth Volatility | 19.99 |
CMS Energy Corporation - Net Assets Trend (1994–2025)
This chart illustrates how CMS Energy Corporation's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for CMS Energy Corporation (1994–2025)
The table below shows the annual net assets of CMS Energy Corporation from 1994 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $9.71 Billion | +11.01% |
| 2024-12-31 | $8.75 Billion | +7.67% |
| 2023-12-31 | $8.12 Billion | +6.98% |
| 2022-12-31 | $7.59 Billion | +5.66% |
| 2021-12-31 | $7.19 Billion | +18.28% |
| 2020-12-31 | $6.08 Billion | +20.22% |
| 2019-12-31 | $5.05 Billion | +5.49% |
| 2018-12-31 | $4.79 Billion | +7.01% |
| 2017-12-31 | $4.48 Billion | +4.38% |
| 2016-12-31 | $4.29 Billion | +7.92% |
| 2015-12-31 | $3.98 Billion | +7.23% |
| 2014-12-31 | $3.71 Billion | +6.19% |
| 2013-12-31 | $3.49 Billion | +7.81% |
| 2012-12-31 | $3.24 Billion | +5.40% |
| 2011-12-31 | $3.07 Billion | +8.28% |
| 2010-12-31 | $2.84 Billion | -3.44% |
| 2009-12-31 | $2.94 Billion | +6.53% |
| 2008-12-31 | $2.76 Billion | +13.36% |
| 2007-12-31 | $2.43 Billion | -5.92% |
| 2006-12-31 | $2.59 Billion | -11.32% |
| 2005-12-31 | $2.92 Billion | -4.89% |
| 2004-12-31 | $3.07 Billion | +84.92% |
| 2003-12-31 | $1.66 Billion | +43.67% |
| 2002-12-31 | $1.15 Billion | -41.60% |
| 2001-12-31 | $1.98 Billion | -19.31% |
| 2000-12-31 | $2.45 Billion | -0.29% |
| 1999-12-31 | $2.46 Billion | +10.83% |
| 1998-12-31 | $2.22 Billion | +12.09% |
| 1997-12-31 | $1.98 Billion | +16.16% |
| 1996-12-31 | $1.70 Billion | +15.86% |
| 1995-12-31 | $1.47 Billion | +32.70% |
| 1994-12-31 | $1.11 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to CMS Energy Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 303800000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $2.44 Billion | 26.72% |
| Common Stock | $3.00 Million | 0.03% |
| Other Comprehensive Income | $-36.00 Million | -0.39% |
| Other Components | $6.73 Billion | 73.64% |
| Total Equity | $9.14 Billion | 100.00% |
CMS Energy Corporation Competitors by Market Cap
The table below lists competitors of CMS Energy Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
PulteGroup Inc
NYSE:PHM
|
$23.61 Billion |
|
Restaurant Brands International Inc
NYSE:QSR
|
$23.62 Billion |
|
The Hartford Financial Services Group, Inc.
SA:H1IG34
|
$23.63 Billion |
|
Jabil Inc
F:JBL
|
$23.66 Billion |
|
NAURA Technology Group Co Ltd
SHE:002371
|
$23.52 Billion |
|
ON Semiconductor Corporation
NASDAQ:ON
|
$23.49 Billion |
|
Qnity Electronics, Inc
NYSE:Q
|
$23.48 Billion |
|
Elbit Systems Ltd
NASDAQ:ESLT
|
$23.39 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in CMS Energy Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 8,230,000,000 to 9,144,000,000, a change of 914,000,000 (11.1%).
- Net income of 1,071,000,000 contributed positively to equity growth.
- Dividend payments of 663,000,000 reduced retained earnings.
- Share repurchases of 525,000,000 reduced equity.
- New share issuances of 525,000,000 increased equity.
- Other comprehensive income increased equity by 5,000,000.
- Other factors increased equity by 501,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.07 Billion | +11.71% |
| Dividends Paid | $663.00 Million | -7.25% |
| Share Repurchases | $525.00 Million | -5.74% |
| Share Issuances | $525.00 Million | +5.74% |
| Other Comprehensive Income | $5.00 Million | +0.05% |
| Other Changes | $501.00 Million | +5.48% |
| Total Change | $- | 11.11% |
Book Value vs Market Value Analysis
This analysis compares CMS Energy Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.57x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 6.08x to 2.57x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | $12.86 | $78.27 | x |
| 1995-12-31 | $16.27 | $78.27 | x |
| 1996-12-31 | $18.54 | $78.27 | x |
| 1997-12-31 | $21.15 | $78.27 | x |
| 1998-12-31 | $20.37 | $78.27 | x |
| 1999-12-31 | $21.41 | $78.27 | x |
| 2000-12-31 | $21.10 | $78.27 | x |
| 2001-12-31 | $14.45 | $78.27 | x |
| 2002-12-31 | $8.16 | $78.27 | x |
| 2003-12-31 | $10.34 | $78.27 | x |
| 2004-12-31 | $13.57 | $78.27 | x |
| 2005-12-31 | $12.09 | $78.27 | x |
| 2006-12-31 | $11.37 | $78.27 | x |
| 2007-12-31 | $10.69 | $78.27 | x |
| 2008-12-31 | $11.46 | $78.27 | x |
| 2009-12-31 | $11.94 | $78.27 | x |
| 2010-12-31 | $11.04 | $78.27 | x |
| 2011-12-31 | $11.50 | $78.27 | x |
| 2012-12-31 | $11.89 | $78.27 | x |
| 2013-12-31 | $12.70 | $78.27 | x |
| 2014-12-31 | $13.35 | $78.27 | x |
| 2015-12-31 | $14.27 | $78.27 | x |
| 2016-12-31 | $15.24 | $78.27 | x |
| 2017-12-31 | $15.82 | $78.27 | x |
| 2018-12-31 | $16.81 | $78.27 | x |
| 2019-12-31 | $17.65 | $78.27 | x |
| 2020-12-31 | $19.20 | $78.27 | x |
| 2021-12-31 | $22.91 | $78.27 | x |
| 2022-12-31 | $24.19 | $78.27 | x |
| 2023-12-31 | $25.86 | $78.27 | x |
| 2024-12-31 | $27.59 | $78.27 | x |
| 2025-12-31 | $30.42 | $78.27 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently CMS Energy Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 11.71%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.54%
- • Asset Turnover: 0.21x
- • Equity Multiplier: 4.42x
- Recent ROE (11.71%) is above the historical average (6.72%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | 16.17% | 4.95% | 0.49x | 6.67x | $68.30 Million |
| 1995 | 13.89% | 5.24% | 0.48x | 5.54x | $57.10 Million |
| 1996 | 13.16% | 5.18% | 0.50x | 5.06x | $53.80 Million |
| 1997 | 12.34% | 5.10% | 0.49x | 4.95x | $46.30 Million |
| 1998 | 12.86% | 5.54% | 0.45x | 5.10x | $63.40 Million |
| 1999 | 11.28% | 4.67% | 0.38x | 6.30x | $31.40 Million |
| 2000 | 1.52% | 0.41% | 0.55x | 6.71x | $-200.10 Million |
| 2001 | -24.29% | -5.73% | 0.47x | 9.05x | $-648.00 Million |
| 2002 | -57.37% | -7.49% | 0.62x | 12.28x | $-763.30 Million |
| 2003 | -2.78% | -0.80% | 0.40x | 8.73x | $-202.50 Million |
| 2004 | 5.19% | 2.21% | 0.34x | 6.80x | $-112.30 Million |
| 2005 | -3.25% | -1.43% | 0.37x | 6.20x | $-342.30 Million |
| 2006 | -3.17% | -1.29% | 0.40x | 6.16x | $-328.50 Million |
| 2007 | -9.03% | -3.33% | 0.46x | 5.96x | $-453.00 Million |
| 2008 | 10.90% | 4.33% | 0.46x | 5.51x | $24.40 Million |
| 2009 | 8.06% | 3.69% | 0.41x | 5.37x | $-55.10 Million |
| 2010 | 12.17% | 5.29% | 0.41x | 5.59x | $60.70 Million |
| 2011 | 13.71% | 6.38% | 0.40x | 5.43x | $112.20 Million |
| 2012 | 11.96% | 6.11% | 0.37x | 5.36x | $62.60 Million |
| 2013 | 13.09% | 6.88% | 0.38x | 5.04x | $106.60 Million |
| 2014 | 13.00% | 6.64% | 0.37x | 5.23x | $110.00 Million |
| 2015 | 13.28% | 8.10% | 0.32x | 5.17x | $129.20 Million |
| 2016 | 12.96% | 8.61% | 0.30x | 5.08x | $125.70 Million |
| 2017 | 10.36% | 6.99% | 0.29x | 5.19x | $15.90 Million |
| 2018 | 13.82% | 9.56% | 0.28x | 5.16x | $181.50 Million |
| 2019 | 13.55% | 10.27% | 0.25x | 5.35x | $178.20 Million |
| 2020 | 13.74% | 11.76% | 0.22x | 5.40x | $205.40 Million |
| 2021 | 20.40% | 18.46% | 0.25x | 4.34x | $689.90 Million |
| 2022 | 11.93% | 9.74% | 0.27x | 4.47x | $135.50 Million |
| 2023 | 11.76% | 11.89% | 0.22x | 4.44x | $132.60 Million |
| 2024 | 12.19% | 13.35% | 0.21x | 4.36x | $180.00 Million |
| 2025 | 11.71% | 12.54% | 0.21x | 4.42x | $156.60 Million |
Industry Comparison
This section compares CMS Energy Corporation's net assets metrics with peer companies in the Utilities - Regulated Electric industry.
Industry Context
- Industry: Utilities - Regulated Electric
- Average net assets among peers: $32,867,819,444
- Average return on equity (ROE) among peers: 16.55%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| CMS Energy Corporation (CMS) | $9.71 Billion | 16.17% | 3.16x | $23.53 Billion |
| Aboitiz Equity Ventures Inc (ABOIF) | $113.50 Billion | 21.11% | 0.96x | $1.55 Billion |
| Ameren Corp (AEE) | $4.55 Billion | 11.50% | 2.12x | $30.51 Billion |
| American Electric Power Co Inc (AEP) | $5.05 Billion | 9.89% | 2.11x | $71.56 Billion |
| Avangrid Inc (AGR) | $500.50 Million | 10.07% | 2.97x | $2.56 Billion |
| Central Puerto S.A. (CEPU) | $32.93 Billion | 53.20% | 0.74x | $2.49 Billion |
| CLP Holdings Ltd (CLPHY) | $126.71 Billion | 6.81% | 0.89x | $14.34 Billion |
| CenterPoint Energy Inc (CNP) | $10.04 Billion | 10.52% | 2.84x | $27.76 Billion |
| The Connecticut Light and Power Company (CNTHP) | $2.37 Billion | 9.12% | 2.52x | $512.98K |
| Caribbean Utilities Company Ltd (CUPUF) | $142.47 Million | 16.68% | 1.58x | $224.77 Million |