Capital Expenditures for CMS Energy (CMS)
According to CMS Energy's latest reported financial statements, the company's current capital expenditures (TTM) is $2.94B USD. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
CMS
Currently viewingCapital ExpendituresSwitch metric
Latest period
$2.94B
YoY change
+26.7%
5Y CAGR
+10.6%
Peak year (2025)
$3.82B
Cumulative capital expenditures
$44.95B
CapEx history chart for CMS Energy (CMS) from 1994 to 2025
CapEx history table for CMS Energy (CMS) from 1994 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 2025 | $3.82B | +26.7% | ||
| 2024 | $3.02B | -6.2% | ||
| 2023 | $3.22B | +35.6% | ||
| 2022 | $2.37B | +14.4% | ||
| 2021 | $2.08B | -10.2% | ||
| 2020 | $2.31B | +9.8% | ||
| 2019 | $2.10B | +1.4% | ||
| 2018 | $2.07B | +24.6% | ||
| 2017 | $1.67B | -0.4% | ||
| 2016 | $1.67B | +6.9% | ||
| 2015 | $1.56B | -0.8% | ||
| 2014 | $1.58B | +19.0% | ||
| 2013 | $1.32B | +8.0% | ||
| 2012 | $1.23B | +39.1% | ||
| 2011 | $882.00M | +7.4% | ||
| 2010 | $821.00M | +0.4% | ||
| 2009 | $818.00M | +3.3% | ||
| 2008 | $792.00M | -42.4% | ||
| 2007 | $1.38B | +105.4% | ||
| 2006 | $670.00M | +13.0% | ||
| 2005 | $593.00M | +13.0% | ||
| 2004 | $525.00M | -1.9% | ||
| 2003 | $535.00M | -28.4% | ||
| 2002 | $747.00M | -40.8% | ||
| 2001 | $1.26B | +22.3% | ||
| 2000 | $1.03B | -8.2% | ||
| 1999 | $1.12B | -13.2% | ||
| 1998 | $1.29B | +91.0% | ||
| 1997 | $678.00M | +2.9% | ||
| 1996 | $659.00M | +23.2% | ||
| 1995 | $535.00M | -7.0% | ||
| 1994 | $575.00M | — |
CapEx values are taken from CMS Energy's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
2025's annual capital expenditures for CMS Energy (CMS) came in at $3.82B – grew 26.7% year-over-year.
Through 2020–2025 (5 years), CMS Energy capital expenditures delivered a +10.6% annualised rate; with the latest reading among the more recent periods of the dataset.
2025 marks the peak capital expenditures at $3.82B, with the historical low of $525.00M recorded in 2004.
Within Utilities, CMS Energy (CMS) ranks 6th among 8 peers we track. The peer median for capital expenditures is $9.94B.
CMS Energy Capital Expenditures by Year
CMS Energy Capital Expenditures 2025: $3.82B
CMS Energy capital expenditures in 2025 was $3.82B, grew 26.7% from 2024. This figure represents the highest annual value in the available history.
CMS Energy Capital Expenditures 2024: $3.02B
CMS Energy capital expenditures in 2024 was $3.02B, declined 6.2% below 2023.
CMS Energy Capital Expenditures 2023: $3.22B
CMS Energy capital expenditures in 2023 was $3.22B, surged 35.6% from 2022.
CMS Energy Capital Expenditures 2022: $2.37B
CMS Energy capital expenditures in 2022 was $2.37B, grew 14.4% from 2021.
CMS Energy Capital Expenditures 2021: $2.08B
CMS Energy capital expenditures in 2021 was $2.08B.
See more financial history for CMS Energy (CMS).
Sector peers — CapEx
Companies in the same sector as CMS Energy, ranked by their latest capital expenditures.
| Company | Capital Expenditures | Sector |
|---|---|---|
| Duke Energy Corporation (DUK) | $14.02B | Utilities |
| The Southern Company (SO) | $13.39B | Utilities |
| Dominion Energy, Inc. (D) | $12.64B | Utilities |
| Sempra (SRE) | $10.61B | Utilities |
| NextEra Energy, Inc. (NEE) | $9.27B | Utilities |
| Constellation Energy Corporation (CEG) | $2.95B | Utilities |
| GE Vernova Inc. (GEV) | $1.28B | Utilities |
| American Electric Power Company, Inc. (AEP) | $130.00M | Utilities |
Frequently asked questions
What is CMS Energy's capital expenditures?
- Latest reported capital expenditures for CMS Energy (CMS) is $2.94B (period ending March 31, 2026).
How has CMS Energy capital expenditures changed year-over-year?
- CMS Energy (CMS) capital expenditures changed +26.7% year-over-year on the latest annual filing.
What is the long-term growth rate of CMS Energy capital expenditures?
- CMS Energy (CMS) capital expenditures compound annual growth rate is +10.6% over the most recent 5 years available.
When did CMS Energy capital expenditures hit its highest annual value?
- CMS Energy capital expenditures reached its highest annual value of $3.82B in 2025.
What was CMS Energy capital expenditures in 2024?
- CMS Energy (CMS) capital expenditures in 2024 was $3.02B.
What was CMS Energy capital expenditures in 2025?
- CMS Energy (CMS) capital expenditures in 2025 was $3.82B.
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