Company Analysis

CMS Energy Corporation Preferre CMS-PB

A comprehensive view of key metrics, scores, and financial health for CMS Energy Corporation Preferre

Overview of Consumers Energy Company

CMS-PB NYQ

Utilities Utilities - Regulated Electric Framework: Regulated Utilities Mid Cap

Consumers Energy Company (CMS-PB), is a Mid Cap company, in the Utilities - Regulated Electric industry, last closed at $75.00, about 0.0% overvalued vs fair value, -2.9% 1Y return, placing in the top 25% of its sector.

Metrics Rev Growth 12.9% ROE 9.4% Gross Margin 43.3% Div Yield 13.54%

USD 75.00

-1.59%

(Delayed)

• Vol 90d: 15.6%

Market Cap

$6.65B

Enterprise Value

$20.40B

Overall Score

View breakdown

Overall

Growth

Good

Profitability

Fair

Health

Fair

Efficiency

Weak

Valuation

Fair

Growth

Good

Profitability

Fair

Health

Fair

Efficiency

Weak

Valuation

Fair

Completeness: 82%

Confidence: 82%

Updated: Jul 5

Top Beats

Quick Facts

Website https://www.consumersenergy.co...

HQ Jackson, MI

Employees 8,095

Fiscal year Dec 31

Next Events

Dividend Jul 1

Fair Value Snapshot

Insufficient data

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Shares outstanding missing or non-positive

Engine Room Money Flow™

Mid Cap

Regulated Utilities - Where revenue goes and how value is created

Flow Steps

Total Revenue

$8.1B

12.9%%

EBITDA

$3.2B

10.7%%

Operating Income (EBIT)

$1.8B

16.8%%

Net Income

$1.1B

11.9%%

Money Flow Bridge

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Flow Direction: Money moves from left to right

Components: Breakdown shows composition of each stage

Industry-Specific: Regulated Utilities

Data Quality Notes

Note: FFO (Funds From Operations) = Net Income + D&A + Deferred Taxes. This is the standard cash proxy for regulated utilities, replacing FCF as the primary metric — high D&A from rate-base assets systematically depresses FCF.
Note: Owner Pocket percentages are relative to FFO (not FCF). Regulated utilities fund dividends from FFO; FCF is depressed by large rate-base depreciation charges.

Quality & Reliability Indicators

FFO / Total Debt

18.0%

Good

FFO ÷ Total Debt — the primary S&P/Moody's credit metric for utility ratings. >15% is investment-grade; >20% signals strong credit quality.

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Owner's Pocket - Capital Allocation

Total Returned to Shareholders

Combined dividends, buybacks, and debt reduction

$900.0M

37.0% of FFO

Where It Leaks

Cash Flow Health critical

Significant cash flow inefficiencies identified. Multiple high-impact leaks require attention.

Active Leaks

1/4

Improving

High Impact

Critical

Medium

CapEx Hunger

Current: 158.0%

Reinvestment Leak

Worsening

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Scores based on quantitative metrics and qualitative factors

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Regulatory Franchise

Moderate

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Rate-Base Return Quality

Moderate

Dividend Sustainability

Developing

Capital Structure Discipline

Moderate

Operational Efficiency

Moderate

Essential Service Resilience

Moderate

Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Regulated Utilities vs Industry Peers 95% Coverage

Click axes to expand details. Marker shows current allocation.

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Growth

56th percentile vs peers

Key Signals

Asset Growth YoY 8.8% 52p Rev Growth YoY 12.9% 73p Equity Growth YoY 10.1% 68p Revenue CAGR 3Y -0.1% 28p

Strengths

Conservative leverage compared to industry peers

Risks

No significant risks identified for this axis.

Profitability

53th percentile vs peers

Key Signals

Strengths

Risks

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Safety

59th percentile vs peers

Key Signals

Strengths

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Two Futures

Scenario-based fair value ranges for CMS Energy Corporation Preferre.

WACC X.X%

X%XX%

Rev CAGR 5Y X.X%

-XX%XX%

Op Margin XX.X%

-XX%XX%

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Bear

- - -

- upside

Base

- - -

- upside

Bull

- - -

- upside

Fair Value Range Current: $-

$- $- $-

CMS Energy Corporation Preferre CMS-PB

Overview of Consumers Energy Company

Quick Facts

Next Events

Fair Value Snapshot

Flow Steps

Money Flow Bridge

Data Quality Notes

Quality & Reliability Indicators

FFO / Total Debt

Locked Metric

Locked Metric

Locked Metric

Locked Metric

Locked Metric

Owner's Pocket - Capital Allocation

Total Returned to Shareholders

CapEx Hunger

Locked Leak

Locked Leak

Locked Leak

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Regulatory Franchise

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Rate-Base Return Quality

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Dividend Sustainability

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Capital Structure Discipline

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Operational Efficiency

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Essential Service Resilience

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Growth

Profitability

Safety

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