CMS Energy (FRA:CSG) EBIT: €1,776 Mil (TTM As of Mar. 2026)


FRA:CSG CMS Energy Corp FRA:CSG
76 GF Score
Price €64.04
GF Value €64.63
Valuation Fairly Valued
! 10 Warning Signs
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What is CMS Energy EBIT?

CMS Energy FRA:CSG +0.47% 76 EBIT is €1,776 Mil as of Mar. 2026. GuruFocus rates FRA:CSG with a GF Score™ of 76/100 and a GF Value™ of €64.63 (Fairly Valued). The stock has 10 warning signs investors should review.

CMS Energy's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was €490 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was €1,776 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. CMS Energy's annualized ROC % for the quarter that ended in Mar. 2026 was 3.94%. CMS Energy's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 7.21%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. CMS Energy's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 4.72%.


CMS Energy  (FRA:CSG) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

CMS Energy's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=1695.4 * ( 1 - 23.48% )/( (32191.53 + 33640.715)/ 2 )
=1297.32008/32916.1225
=3.94 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=34109.614 - 1982.988 - ( 434.686 - max(0, 3029.992 - 2965.088+434.686))
=32191.53

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=34846.525 - 1696.265 - ( 151.375 - max(0, 3107.08 - 2616.625+151.375))
=33640.715

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

CMS Energy's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1958.36/( ( (26200.72 + max(302.316, 0)) + (27276.045 + max(522.46, 0)) )/ 2 )
=1958.36/( ( 26503.036 + 27798.505 )/ 2 )
=1958.36/27150.7705
=7.21 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1115.324 + 675.514 + 725.046) - (1982.988 + 0 + 230.58)
=302.316

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1212.73 + 555.33 + 685.08) - (1696.265 + 0 + 234.415)
=522.46

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

CMS Energy's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=1776.26/37610.266
=4.72 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


CMS Energy EBIT Related Terms


CMS Energy EBIT Historical Data

* Premium members only.

The historical data trend for CMS Energy's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

CMS Energy EBIT Chart

CMS Energy Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,170.86 1,341.42 1,464.45 1,748.61 1,747.28

CMS Energy Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 504.13 393.62 462.64 430.42 489.59

FRA:CSG vs ES, EVRG, LNT: EBIT Comparison

For the Utilities - Regulated Electric subindustry, CMS Energy's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


CMS Energy EV-to-EBIT vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, CMS Energy's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where CMS Energy's EV-to-EBIT falls into.


FRA:CSG
76GF Score
CMS Energy Corp FRA:CSG
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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CMS Energy EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €1,776 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of €1,776 Mil mean?
CMS Energy (FRA:CSG) has a EBIT of €1,776 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on CMS Energy.
Is CMS Energy's EBIT too high?
CMS Energy's current EBIT is €1,776 Mil. Overall, CMS Energy has a GF Score™ of 76/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does CMS Energy's EBIT compare to ES and EVRG?
CMS Energy's EBIT of €1,776 Mil can be compared against companies in the Utilities - Regulated industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for an Utilities - Regulated company?
A good EBIT depends on the Utilities - Regulated industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on CMS Energy. CMS Energy's current EBIT is €1,776 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CMS Energy stock overvalued right now?
Based on GuruFocus' analysis, CMS Energy (FRA:CSG) is currently considered Fairly Valued. The stock's GF Value™ is €64.63, compared to a current price of €64.04 — trading 0.9% below its estimated fair value. The current EBIT is €1,776 Mil. CMS Energy's overall GF Score™ is 76/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For CMS Energy (FRA:CSG), the current EBIT is €1,776 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is CMS Energy (FRA:CSG) Overvalued in 2026?

Based on GuruFocus' analysis, CMS Energy stock appears to be undervalued. The current stock price of €64.04 is trading 0.9% below its estimated GF Value™ of €64.63. GuruFocus considers CMS Energy to be Fairly Valued.

Key valuation signals for FRA:CSG:

  • EBIT: €1,776 Mil
  • GF Value™: €64.63 vs. price of €64.04 (0.9% below fair value)
  • GF Score™: 76/100 with 10 warning signs

No single metric tells the full story. See the FRA:CSG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


CMS Energy Business Description

Address One Energy Plaza, Jackson, MI, USA, 49201
CMS Energy is an energy holding company with three principal businesses. Its regulated utility, Consumers Energy, provides regulated natural gas service to 1.8 million customers and electric service to 1.9 million customers in Michigan. NorthStar Clean Energy, formerly CMS Enterprises, is engaged in wholesale power generation, including contracted renewable energy. CMS sold EnerBank in October 2021.
76GF Score

Get the complete analysis for FRA:CSG

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€64.04
Price
€64.63
GF Value