Cms Energy (CMS) Operating Margin (2009 - 2026)
Cms Energy (CMS) posted Operating Margin of 14.43% for Q2 2026, down 2.81 percentage points from 17.25% a year earlier and down 3.51 percentage points from the prior quarter.
Powered by 
Analysis
Cms Energy (CMS) Operating Margin (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Margin at Cms Energy was 18.95%, down 1.05 percentage points year-over-year; for FY2025, it came in at 20.22%, up 0.44 percentage points from FY2024.
- Annual Operating Margin has increased for three consecutive years, with a five-year change of +1.06 percentage points (FY2020 to FY2025).
- In prior years, Cms Energy's Operating Margin was 19.79% in FY2024 (+3.24 pp), 16.55% in FY2023 (+2.31 pp), 14.24% in FY2022 (-1.40 pp) and 15.64% in FY2021 (-3.53 pp).
- The Q2 2026 figure stands as the lowest quarterly Operating Margin since Q1 2023.
- On a year-over-year basis, Operating Margin has declined in each of the last three quarters, with an average year-over-year change of +0.26 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Operating Margin in the past five years was Q4 2023, with a gain of 8.92 percentage points; the weakest was Q4 2021, with a drop of 7.74 percentage points.
- According to Business Quant data, Operating Margin for the three prior quarters was 17.95% (Q1 2026), 19.48% (Q4 2025) and 23.80% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enel Chile | 292.57 Bn | 292.57 Bn | 890.00 Mn | 30.20% |
| 2 | National Grid | 78.85 Bn | 60.37 Bn | - | - |
| 3 | Dominion Energy | 53.27 Bn | 55.95 Bn | - | 7.34% |
| 4 | Xcel Energy | 44.01 Bn | 38.91 Bn | - | 22.64% |
| 5 | Wec Energy | 32.84 Bn | 33.08 Bn | 1.51 Bn | 20.99% |
| 6 | Ameren | 27.51 Bn | 27.59 Bn | - | 21.94% |
| 7 | Fortis | 26.81 Bn | 27.29 Bn | 1.60 Bn | 27.43% |
| 8 | Atmos Energy | 26.44 Bn | 25.21 Bn | 870.85 Mn | 36.45% |
| 9 | American Water Works Company | 25.73 Bn | 25.14 Bn | - | 40.00% |
| 10 | Cms Energy | 19.78 Bn | 19.12 Bn | 1.27 Bn | 14.43% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 14.43% |
| Mar 31, 2026 | 17.95% |
| Dec 31, 2025 | 19.48% |
| Sep 30, 2025 | 23.80% |
| Jun 30, 2025 | 17.25% |
| Mar 31, 2025 | 20.19% |
| Dec 31, 2024 | 21.37% |
| Sep 30, 2024 | 21.06% |
| Jun 30, 2024 | 17.61% |
| Mar 31, 2024 | 18.93% |
| Dec 31, 2023 | 20.82% |
| Sep 30, 2023 | 16.20% |
| Jun 30, 2023 | 15.69% |
| Mar 31, 2023 | 13.75% |
| Dec 31, 2022 | 11.90% |
| Sep 30, 2022 | 12.75% |
| Jun 30, 2022 | 12.45% |
| Mar 31, 2022 | 19.21% |
| Dec 31, 2021 | 10.03% |
| Sep 30, 2021 | 15.07% |
API Access
Cms Energy Operating Margin 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-margin&ticker=CMS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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-margin&ticker=CMS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();