CMS Energy (CMS) valuation
CMS Energy P/E ratio history
CMS Energy trades at 21.1 times its earnings over the last twelve months and 17.2 times the earnings analysts expect over the next twelve. At its last 10 fiscal year ends its P/E ranged from 14.0 (year to Dec 2021) to 28.8 (year to Dec 2017), with a median of 21.2.
| Fiscal year ended | Price | EPS | P/E | Forward P/E |
|---|---|---|---|---|
| Dec 31, 2025 | $69.93 | $3.53 | 19.8 | 18.5 |
| Dec 31, 2024 | $66.65 | $3.33 | 20.0 | 18.9 |
| Dec 31, 2023 | $58.07 | $3.01 | 19.3 | — |
| Dec 31, 2022 | $63.33 | $2.85 | 22.2 | — |
| Dec 31, 2021 | $65.05 | $4.66 | 14.0 | 23.1 |
| Dec 31, 2020 | $61.01 | $2.64 | 23.1 | — |
| Dec 31, 2019 | $62.84 | $2.39 | 26.3 | — |
| Dec 31, 2018 | $49.65 | $2.32 | 21.4 | — |
| Dec 31, 2017 | $47.30 | $1.64 | 28.8 | — |
| Dec 31, 2016 | $41.62 | $1.99 | 20.9 | — |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
CMS Energy valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| CMS EnergyCMS | $22.0B | 21.1 | 17.2 | 2.5 |
| NiSourceNI | $21.4B | 22.9 | 20.3 | 3.1 |
| CenterPoint EnergyCNP | $28.0B | 24.3 | 20.7 | 2.9 |
| DTE EnergyDTE | $28.2B | 21.4 | 16.9 | 1.7 |
| AmerenAEE | $30.6B | 19.5 | 19.7 | 3.5 |
| PG&EPCG | $35.3B | 9.6 | 7.5 | 1.4 |
| Pinnacle West CapitalPNW | $12.9B | 20.4 | 20.5 | 2.3 |
| Consolidated EdisonED | $43.0B | 19.2 | 18.5 | 2.4 |
| Xcel EnergyXEL | $49.8B | 18.6 | 18.0 | 3.4 |
| Peer median | 19.9 | 19.1 | 2.6 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: CMS financials · CMS returns
No forecast, no recommendation. This page describes CMS Energy from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.