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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
—
Company details
Market cap
$22.8B
P/E ratio
20×
Div yield
3.0%
EPS (2025)
$3.53
Profit margin
12%
Rev. growth
+14%
Revenue
$8.5B
Net income
$1.06B
In plain English
CMS Energy is the Michigan utility holding company behind Consumers Energy — the regulated electric-and-gas monopoly that keeps the lights on and the heat flowing for most of Michigan's Lower Peninsula (1.9M electric and 1.8M gas customers). It buys gas, coal and renewable power, turns it into electricity, and delivers it the last mile at state-approved rates, while a small non-utility arm (NorthStar Clean Energy) develops renewables. Its growth engine is a multi-decade capital plan to retire coal and build out 9GW of solar and 4GW of wind.
In simple terms
What CMS Energy really sells
CMS Energy is the Michigan utility holding company behind Consumers Energy — the regulated electric-and-gas monopoly that keeps the lights on and the heat flowing for most of Michigan's Lower Peninsula (1.9M electric and 1.8M gas customers). It buys gas, coal and renewable power, turns it into electricity, and delivers it the last mile at state-approved rates, while a small non-utility arm (NorthStar Clean Energy) develops renewables. Its growth engine is a multi-decade capital plan to retire coal and build out 9GW of solar and 4GW of wind.
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