Commercial was the largest of Cms Energy Corp’s 4 reported lines in fiscal 2025, at $30.20B — 57% of $53.21B.
| Product and Service | FY 2018 | FY 2019 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Commercial | $28.18B | $25.12B | $17.88B | $30.20B | ||
| Residential | $13.15B | $11.33B | $16.23B | $11.91B | ||
| Industrial | $5.54B | $4.62B | $9.73B | $6.20B | ||
| Other | $6.31B | $4.94B | $6.03B | $4.91B | ||
| Total | $53.18B | $46.02B | $49.86B | $53.21B |
In fiscal 2025, which ended December 31, 2025, the 4 revenue lines Cms Energy Corp reported in this breakdown added up to $53.21B. That was up 6.7% from $49.86B in fiscal 2024. Commercial was the largest revenue line, at $30.20B or 56.7% of the total, followed by Residential ($11.91B, 22.4%) and Industrial ($6.20B, 11.7%). Together, the two largest revenue lines made up 79.1% of this total.
Compared with fiscal 2024, Commercial grew the fastest, rising 68.9% to $30.20B. Industrial fell the most, down 36.3% to $6.20B. Over fiscal 2022 to 2025, revenue across these revenue lines went from $53.18B to $53.21B, a compound annual growth rate of 0.0%. Commercial's share of the total rose from 53.0% to 56.7% over the same years.
This breakdown covers 6 fiscal years between 2018 and 2025, as reported in Cms Energy Corp's annual filings.
Electric Utility was the largest of Cms Energy Corp’s 3 reported lines in fiscal 2025, at $18.63B — 49% of $37.72B.
| Statement Business Segments | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Electric Utility | $12.13B | $10.85B | $16.23B | $18.63B | ||||
| Gas Utility | $19.04B | $16.76B | $14.80B | $17.28B | ||||
| Northstar Clean Energy | $1.44B | $1.27B | — | $1.81B | ||||
| Enterprises | — | — | — | — | ||||
| Enerbank | — | — | — | — | ||||
| Total | $32.61B | $28.88B | $31.02B | $37.72B |
In fiscal 2025, which ended December 31, 2025, the 3 segments Cms Energy Corp reported in this breakdown added up to $37.72B. That is less than the $53.21B in its breakdown by revenue line, so these segments do not account for all of its revenue that year. Electric Utility was the largest segment, at $18.63B or 49.4% of the total, followed by Gas Utility ($17.28B, 45.8%) and Northstar Clean Energy ($1.81B, 4.8%). Together, the two largest segments made up 95.2% of this total.
Compared with fiscal 2024, Gas Utility grew the fastest, rising 16.7% to $17.28B. Because segments were added or dropped between the two years, part of this reflects how Cms Energy Corp regrouped its reporting.
The table also keeps 2 segments that Cms Energy Corp no longer reports, so earlier years can still be read on their original basis; use "Show 2 discontinued" beneath the table to see them. This breakdown covers 8 fiscal years between 2016 and 2025, as reported in Cms Energy Corp's annual filings.
Electric Utility was the largest of Cms Energy Corp’s 4 reported lines in fiscal 2015, at $29.74B — 66% of $45.19B.
| Statement, Operating Activities Segment | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 |
|---|---|---|---|---|---|---|---|
| Electric Utility | $28.22B | $29.21B | $31.05B | $29.74B | |||
| Gas Utility | $13.87B | $15.04B | $16.54B | $13.41B | |||
| Enterprises | $1.28B | $1.27B | $2.09B | $1.33B | |||
| Other Reconciling Items | — | — | — | $707.00M | |||
| Other | $399.00M | $448.00M | $567.00M | — | |||
| Total | $43.77B | $45.96B | $50.25B | $45.19B |
In fiscal 2015, which ended December 31, 2015, the 4 segments Cms Energy Corp reported in this breakdown added up to $45.19B. The segments reported changed from fiscal 2014, so the total is not directly comparable with the $50.25B reported that year. Electric Utility was the largest segment, at $29.74B or 65.8% of the total, followed by Gas Utility ($13.41B, 29.7%) and Enterprises ($1.33B, 2.9%). Together, the two largest segments made up 95.5% of this total.
Compared with fiscal 2014, every sizeable segment reported in both years shrank. Electric Utility held up best, down 4.2% to $29.74B, while Enterprises fell the most, down 36.5% to $1.33B. Because segments were added or dropped between the two years, part of this reflects how Cms Energy Corp regrouped its reporting.
Other Reconciling Items was first reported as a separate segment in fiscal 2015. The table also keeps 1 segment that Cms Energy Corp no longer reports, so earlier years can still be read on their original basis; use "Show 1 discontinued" beneath the table to see them. This breakdown covers every fiscal year from 2009 to 2015, as reported in Cms Energy Corp's annual filings.
Cms Energy Corp (CMS) breaks its revenue down by revenue line and segment. In fiscal 2025, its largest revenue line was Commercial, with $30.20B or 56.7% of the total, followed by Residential at $11.91B (22.4%).
Commercial was Cms Energy Corp's largest revenue line in fiscal 2025, with $30.20B in revenue, 56.7% of the $53.21B reported across its 4 revenue lines.
Electric Utility was Cms Energy Corp's largest segment in fiscal 2025, with $18.63B in revenue, 49.4% of the $37.72B reported across its 3 segments.
Of the Cms Energy Corp revenue lines reported in both fiscal 2024 and fiscal 2025, and making up at least 2% of the total, Commercial grew the fastest, rising 68.9% from $17.88B to $30.20B.
Every figure is taken from Cms Energy Corp's annual financial filings and shown as reported: each line keeps the name the company gives it, years follow its own fiscal calendar, and lines it has stopped reporting stay in the table for the years they were reported.
The breakdown by revenue line covers fiscal 2018 to 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.