FINHUB Insights

CMS · Q3 FY25 · Jul 1 – Sep 30, 2025

CMS Energy Q3 FY25: where the revenue came from and where it went

CMS Energy Q3 FY25: revenue $2B (+16% year over year). Net profit $0.3B. Largest cohort Electric Utility $1.7B. The whole income statement as a sankey diagram from the SEC filing.

Period
Jul 1 – Sep 30, 2025
Reported
Oct 30, 2025 10-Q
Sankey diagram of CMS Energy's income statement for Q3 FY25: revenue of $2 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$2B +16% year over year
Operating profit$0.5B 24% margin
Net profit$0.3B 14% margin

The numbers

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
ItemValueShare of revenueYear over year
Revenue 2 100% +16%
Electric Utility 1.7 85% +16%
Gas Utility 0.2 10% +10%
North Star Clean Energy 0.1 5% +32%
Maintenance and other operating−0.921%+0pp
Depreciation and amortization−0.314%+0pp
Fuel for electric generation−0.28%+0pp
General taxes−0.15%+0pp
Operating profit0.524% margin+3pp
Tax−0.1
Interest & other costs−0.1
Net profit0.314%−1pp
Filing on EDGAR More quarters of CMS

Source of the numbers: structured XBRL data from the filing (10-Q). The diagram is generated automatically and checked against EDGAR before release. How we calculate it → About and methodology.

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