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CMS EnergyFRA:CSG +0.40%69 EV-to-OCF is 20.46 as of Jul. 29, 2026, which is 19% above its 10-year median of 17.22. GuruFocus rates FRA:CSG with a GF Score™ of 69/100 and a GF Value™ of €66.46 (Fairly Valued). The stock has 10 warning signs investors should review. Among 506 Utilities - Regulated companies, CMS Energy ranks worse than 85.77% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, CMS Energy's Enterprise Value is €37,852 Mil.
CMS Energy's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was €1,850 Mil. Therefore, CMS Energy's EV-to-OCF for today is 20.46.
The historical rank and industry rank for CMS Energy's EV-to-OCF or its related term are showing as below:
FRA:CSG'
s EV-to-OCF Range Over the Past 10 Years
Min: 11.75 Med: 17.22 Max: 39.34
Current: 22.18
During the past 13 years, the highest EV-to-OCF of CMS Energy was 39.34. The lowest was 11.75. And the median was 17.22.
FRA:CSG's EV-to-OCF is ranked worse than 85.77% of 506
companies
in the Utilities - Regulated industry
Industry Median: 10.915
vs FRA:CSG: 22.18
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
CMS Energy's share price for today is €64.96.
CMS Energy's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €3.104.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
CMS Energy EV-to-OCF Related Terms
CMS Energy EV-to-OCF Historical Data
* Premium members only.
The historical data trend for CMS Energy's EV-to-OCF 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.
For the Utilities - Regulated Electric subindustry, CMS Energy's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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-OCF vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, CMS Energy's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where CMS Energy's EV-to-OCF falls into.
CMS Energy's current Enterprise Value is €37,852 Mil.
CMS Energy's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €1,850 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.
CMS Energy (FRA:CSG) has a EV-to-OCF of 20.46 as of Jul. 29, 2026. This is 19% above median its historical median of 17.22. Over the past decade, CMS Energy's EV-to-OCF has ranged from 11.75 to 39.34. According to the industry distribution chart, CMS Energy ranks #434 out of 506 companies in the Utilities - Regulated industry, placing it in the top 85.8%.
Is CMS Energy's EV-to-OCF too high?
CMS Energy's current EV-to-OCF of 20.46 is 19% above median its 10-year median of 17.22. Over the past 10 years, this metric has ranged from a low of 11.75 to a high of 39.34. The Utilities - Regulated industry median EV-to-OCF is 10.92. CMS Energy's value of 20.46 is 87.4% above this industry median. Based on the distribution chart, CMS Energy ranks #434 out of 506 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, CMS Energy has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does CMS Energy's EV-to-OCF compare to EVRG and LNT?
According to the Utilities - Regulated industry distribution chart, CMS Energy ranks #434 out of 506 companies for EV-to-OCF. This places CMS Energy in the lower half of its industry. The industry median EV-to-OCF is 10.92. CMS Energy's value of 20.46 is 87.4% above this benchmark. Historically, CMS Energy's own EV-to-OCF has ranged from 11.75 to 39.34 over the past decade. While the company's 10-year median is 17.22 vs. the industry median of 10.92, CMS Energy has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for an Utilities - Regulated company?
The median EV-to-OCF among Utilities - Regulated companies is 10.92, based on 506 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. CMS Energy's current EV-to-OCF of 20.46 is 87.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Utilities - Regulated industry, the median EV-to-OCF is 10.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CMS Energy's current EV-to-OCF is 20.46, which is 19% above median its own 10-year median of 17.22. 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 €66.46, compared to a current price of €64.96 — trading 2.3% below its estimated fair value. The current EV-to-OCF is 20.46, which is 19% above median its 10-year median of 17.22 and 87.4% above the Utilities - Regulated industry median of 10.92. CMS Energy's overall GF Score™ is 69/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For CMS Energy (FRA:CSG), the current EV-to-OCF is 20.46 as of Jul. 29, 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 €64.96 is trading 2.3% below its estimated GF Value™ of €66.46.
GuruFocus considers CMS Energy to be Fairly Valued.
Key valuation signals for FRA:CSG:
EV-to-OCF: 20.46 (19% above median its 10-year median of 17.22)
GF Value™: €66.46 vs. price of €64.96 (2.3% below fair value)
Industry Position: 87.4% above the Utilities - Regulated median (#434 of 506)
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 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.
69GF Score
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