CMS CMS Energy
FY2025 10-K
CMS Energy (CMS) filed its fiscal year 2025 10-K annual report with the SEC on Feb 10, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business model: Electric and natural gas utility services primarily through Consumers Energy
- • Emphasis on corporate governance and ethics via Employee Code of Conduct and Director Code of Conduct updates
Management Discussion & Analysis
- • CMS Energy revenue not explicitly stated; operating cash flow $2,235M in 2025 vs $2,370M in 2024, down $135M YoY
- • Consumers segment operating cash flow $2,238M in 2025 vs $2,446M in 2024, down $208M YoY
Risk Factors
- • Cybersecurity incident risk with critical event management overseen by VP IT and Security reporting to EVP and Chief Legal Officer
- • Board Audit Committee oversight of cybersecurity strategy and risk, meeting at least twice annually with updates on threat landscape
Financial SummaryXBRL
Revenue
$8.3B
Net Income
$1.1B
Operating Margin
20.8%
Net Margin
12.9%
ROE
11.7%
Total Assets
$39.9B
EPS (Diluted)
$3.53
Operating Cash Flow
$2.2B
Source: XBRL data from CMS Energy FY2025 10-K filing on SEC EDGAR. All figures in USD.
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