CMS Energy (CMS) revenue breakdown
By segment, Electric Utility is the largest at 67% of fiscal 2025 revenue; Gas Utility grew fastest, 4% a year over 9 years.
Revenue by segment
Fiscal years, as CMS Energy reports them in its 10-K filings; fiscal 2025 total $8.3B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Electric Utility | $4.4B | $4.4B | $4.6B | $4.4B | $4.3B | $4.9B | $5.4B | $4.7B | $5.0B | $5.6B | 67% |
| Gas Utility | $1.7B | $1.8B | $1.9B | $1.9B | $1.8B | $2.0B | $2.7B | $2.4B | $2.1B | $2.5B | 30% |
| NorthStar Clean Energy | $215M | $229M | $252M | $74M | $81M | $114M | $205M | $181M | $211M | $259M | 3% |
| EnerBank | $120M | $132M | $157M | — | — | — | — | — | — | — | — |
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Where does CMS Energy make its money?
In fiscal 2025, by segment: Electric Utility $5.6B, Gas Utility $2.5B, NorthStar Clean Energy $259M.
From CMS Energy's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.