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CMS
CMS Energy CorporationStock · UtilitiesS&P 500 0.0%
$74.74+$0.59 (+0.80%)as of market close, Jul 24, 2026
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How CMS Energy makes money

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How does CMS Energy make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

CMS Energy Corporation · FY2025 · year ended 2025-12-31
Revenue$8.3BGross profit$8.3B · 100%Cost of revenue$0 · 0%Operating income$1.7B · 21%Operating expenses$6.6B · 79%Other opex$6.6B · 79%Pre-tax income$1.3B · 16%Other expense$410M · 5%Net income$1.1B · 13%Income tax$246M · 3%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.