Cms Energy (CMS) Operating Expenses (2009 - 2026)
Cms Energy (CMS) recorded Operating Expenses of $1.57 billion in Q2 2026, up 2.9% from $1.52 billion a year earlier but down 30.1% from the prior quarter.
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Analysis
Cms Energy (CMS) Operating Expenses (2009 - 2026) Analysis & Trends
On a TTM basis, Cms Energy's Operating Expenses came in at $7.14 billion as of Jun 30, 2026, up 11.4% year-over-year; for FY2025, it was $6.81 billion, up 13.0% from FY2024.
- Annual Operating Expenses has a five-year compound annual growth rate of 5.6% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $6.03 billion in FY2024 (-3.2%), $6.23 billion in FY2023 (-15.5%), $7.37 billion in FY2022 (+19.2%) and $6.18 billion in FY2021 (+19.2%).
- Quarterly Operating Expenses has ranged from $1.31 billion in Q2 2023 to $2.24 billion in Q1 2026 over the past five years.
- On a year-over-year basis, Operating Expenses has increased for seven consecutive quarters, with growth averaging 8.7% over the last eight quarters.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 28.8% in Q4 2021, against a decline of 23.1% in Q4 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at $2.24 billion (Q1 2026), $1.8 billion (Q4 2025) and $1.54 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enel Chile | 292.57 Bn | 292.57 Bn | 890.00 Mn | -140.00 Mn |
| 2 | National Grid | 78.85 Bn | 60.37 Bn | - | - |
| 3 | Dominion Energy | 53.27 Bn | 55.95 Bn | - | 4.15 Bn |
| 4 | Xcel Energy | 44.01 Bn | 38.91 Bn | - | 2.41 Bn |
| 5 | Wec Energy | 32.84 Bn | 33.08 Bn | 1.51 Bn | 1.63 Bn |
| 6 | Ameren | 27.51 Bn | 27.59 Bn | - | 1.63 Bn |
| 7 | Fortis | 26.81 Bn | 27.29 Bn | 1.60 Bn | 626.05 Mn |
| 8 | Atmos Energy | 26.44 Bn | 25.21 Bn | 870.85 Mn | - |
| 9 | American Water Works Company | 25.73 Bn | 25.14 Bn | - | 813.00 Mn |
| 10 | Cms Energy | 19.78 Bn | 19.12 Bn | 1.27 Bn | 1.57 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.57 Bn |
| Mar 31, 2026 | 2.24 Bn |
| Dec 31, 2025 | 1.80 Bn |
| Sep 30, 2025 | 1.54 Bn |
| Jun 30, 2025 | 1.52 Bn |
| Mar 31, 2025 | 1.95 Bn |
| Dec 31, 2024 | 1.56 Bn |
| Sep 30, 2024 | 1.38 Bn |
| Jun 30, 2024 | 1.32 Bn |
| Mar 31, 2024 | 1.76 Bn |
| Dec 31, 2023 | 1.54 Bn |
| Sep 30, 2023 | 1.40 Bn |
| Jun 30, 2023 | 1.31 Bn |
| Mar 31, 2023 | 1.97 Bn |
| Dec 31, 2022 | 2.01 Bn |
| Sep 30, 2022 | 1.77 Bn |
| Jun 30, 2022 | 1.68 Bn |
| Mar 31, 2022 | 1.92 Bn |
| Dec 31, 2021 | 1.83 Bn |
| Sep 30, 2021 | 1.47 Bn |
API Access
Cms Energy Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=CMS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "CMS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=CMS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();