CMS (CMS Energy) Total Operating Expense: $1,854 Mil (TTM As of Mar. 2026)


CMS CMS Energy Corp CMS
75 GF Score
Price $78.81
GF Value $76.06
Valuation Fairly Valued
! 11 Warning Signs
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What is CMS Energy Total Operating Expense?

CMS Energy CMS +2.22% 75 Total Operating Expense is $1,854 Mil as of Mar. 2026. GuruFocus rates CMS with a GF Score™ of 75/100 and a GF Value™ of $76.06 (Fairly Valued). The stock has 11 warning signs investors should review.

CMS Energy's Total Operating Expense for the three months ended in Mar. 2026 was $585 Mil. CMS Energy's Total Operating Expense for the trailing twelve months (TTM) ended in Mar. 2026 was $1,854 Mil.

CMS Energy Total Operating Expense Related Terms

CMS Energy Total Operating Expense Historical Data

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The historical data trend for CMS Energy's Total Operating Expense 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 Total Operating Expense Chart

CMS Energy Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Total Operating Expense
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,503.00 1,538.00 1,627.00 1,722.00 1,819.00

CMS Energy Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Total Operating Expense 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 550.00 397.00 395.00 477.00 585.00
CMS
75GF Score
CMS Energy Corp CMS
Total Operating Expense is just one metric. See GF Score™, valuation, warning signs, and more.
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CMS Energy Total Operating Expense Calculation

Total Operating Expense is the primary recurring expense associated with central operations that are incurred in order to generate sales.


Total Operating Expense 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 $1,854 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.

What does a Total Operating Expense of $1,854 Mil mean?
CMS Energy (CMS) has a Total Operating Expense of $1,854 Mil as of Mar. 2026. Total operating expense is the primary recurring expense associated with central operations. View historical data on CMS Energy and its competitors.
Is CMS Energy's Total Operating Expense too high?
CMS Energy's current Total Operating Expense is $1,854 Mil. Overall, CMS Energy has a GF Score™ of 75/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does CMS Energy's Total Operating Expense compare to ES and EVRG?
CMS Energy's Total Operating Expense of $1,854 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 Total Operating Expense for an Utilities - Regulated company?
A good Total Operating Expense depends on the Utilities - Regulated industry context. However, Total Operating Expense 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 Total Operating Expense mean?
A high Total Operating Expense can signal that a stock is expensive relative to its fundamentals. Total operating expense is the primary recurring expense associated with central operations. View historical data on CMS Energy and its competitors. CMS Energy's current Total Operating Expense is $1,854 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 (CMS) is currently considered Fairly Valued. The stock's GF Value™ is $76.06, compared to a current price of $78.81 — trading 3.6% above its estimated fair value. The current Total Operating Expense is $1,854 Mil. CMS Energy's overall GF Score™ is 75/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Total Operating Expense calculated?
Total Operating Expense is calculated from a company's financial statements. For CMS Energy (CMS), the current Total Operating Expense is $1,854 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 (CMS) Overvalued in 2026?

Based on GuruFocus' analysis, CMS Energy stock appears to be overvalued. The current stock price of $78.81 is trading 3.6% above its estimated GF Value™ of $76.06. GuruFocus considers CMS Energy to be Fairly Valued.

Key valuation signals for CMS:

  • Total Operating Expense: $1,854 Mil
  • GF Value™: $76.06 vs. price of $78.81 (3.6% above fair value)
  • GF Score™: 75/100 with 11 warning signs

No single metric tells the full story. See the CMS 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.
75GF Score

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

$78.81
Price
$76.06
GF Value