FINHUB Insights

CMS · Q4 FY25 · Oct 1 – Dec 31, 2025

CMS Energy Q4 FY25: where the revenue came from and where it went

CMS Energy Q4 FY25: revenue $2.2B (+12% year over year). Net profit $0.29B. Largest cohort Electric utility $1.3B. The whole income statement as a sankey diagram from the SEC filing.

Period
Oct 1 – Dec 31, 2025
Reported
Feb 10, 2026 10-K
Sankey diagram of CMS Energy's income statement for Q4 FY25: revenue of $2.23 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$2.23B +12% year over year
Operating profit$0.30B 13% margin
Net profit$0.29B 13% margin

The numbers

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
ItemValueShare of revenueYear over year
Revenue 2.23 100% +12%
Electric utility 1.30 58% +4%
Gas utility 0.82 37% +26%
North star clean energy 0.11 5% +35%
D&A−0.3415%−1pp
Interest−0.209%+0pp
Underwriting−0.5123%+2pp
Other−0.8940%+0pp
Operating profit0.3013% margin−2pp
Tax−0.05
Net profit0.2913%+0pp
Filing on EDGAR More quarters of CMS

Source of the numbers: structured XBRL data from the filing (10-K). The diagram is generated automatically and checked against EDGAR before release. The fourth quarter has no column of its own in an annual report, so it is the full year minus the first nine months. How we calculate it → About and methodology.