TTM
19.5%
YoY change
+0.44pp
Trough year (2005)
-8.5%
Peak year (1985)
100.0%
Latest annual
20.2%
Operating Margin history chart for CMS Energy (CMS) from 1985 to 2025
Latest: 20.2%
Operating Margin change chart for CMS Energy (CMS) from 1985 to 2025
Latest: +0.44pp
Operating Margin history table for CMS Energy (CMS) from 1985 to 2025
| 2025 | 20.2% | +0.44pp | ||
| 2024 | 19.8% | +3.24pp | ||
| 2023 | 16.6% | +2.31pp | ||
| 2022 | 14.2% | -1.40pp | ||
| 2021 | 15.6% | -3.53pp | ||
| 2020 | 19.2% | +2.33pp | ||
| 2019 | 16.8% | -0.07pp | ||
| 2018 | 16.9% | -3.42pp | ||
| 2017 | 20.3% | +0.70pp | ||
| 2016 | 19.6% | +1.38pp | ||
| 2015 | 18.2% | +2.20pp | ||
| 2014 | 16.0% | -1.35pp | ||
| 2013 | 17.4% | +1.35pp | ||
| 2012 | 16.0% | +0.62pp | ||
| 2011 | 15.4% | +0.22pp | ||
| 2010 | 15.2% | +3.96pp | ||
| 2009 | 11.2% | -0.49pp | ||
| 2008 | 11.7% | +13.10pp | ||
| 2007 | -1.4% | +2.26pp | ||
| 2006 | -3.6% | +4.90pp | ||
| 2005 | -8.5% | -19.32pp | ||
| 2004 | 10.8% | +2.98pp | ||
| 2003 | 7.8% | +8.01pp | ||
| 2002 | -0.2% | +0.07pp | ||
| 2001 | -0.3% | -8.31pp | ||
| 2000 | 8.0% | -6.99pp | ||
| 1999 | 15.0% | +0.95pp | ||
| 1998 | 14.1% | -0.89pp | ||
| 1997 | 15.0% | -0.66pp | ||
| 1996 | 15.6% | -0.28pp | ||
| 1995 | 15.9% | +1.99pp | ||
| 1994 | 13.9% | -86.08pp | ||
| 1993 | 100.0% | 0.00pp | ||
| 1992 | 100.0% | 0.00pp | ||
| 1991 | 100.0% | 0.00pp | ||
| 1990 | 100.0% | 0.00pp | ||
| 1989 | 100.0% | 0.00pp | ||
| 1988 | 100.0% | 0.00pp | ||
| 1987 | 100.0% | 0.00pp | ||
| 1986 | 100.0% | 0.00pp | ||
| 1985 | 100.0% | — |
- 202520.2%+0.44pp
- 202419.8%+3.24pp
- 202316.6%+2.31pp
- 202214.2%-1.40pp
- 202115.6%-3.53pp
- 202019.2%+2.33pp
- 201916.8%-0.07pp
- 201816.9%-3.42pp
- 201720.3%+0.70pp
- 201619.6%+1.38pp
- 201518.2%+2.20pp
- 201416.0%-1.35pp
- 201317.4%+1.35pp
- 201216.0%+0.62pp
- 201115.4%+0.22pp
- 201015.2%+3.96pp
- 200911.2%-0.49pp
- 200811.7%+13.10pp
- 2007-1.4%+2.26pp
- 2006-3.6%+4.90pp
- 2005-8.5%-19.32pp
- 200410.8%+2.98pp
- 20037.8%+8.01pp
- 2002-0.2%+0.07pp
- 2001-0.3%-8.31pp
- 20008.0%-6.99pp
- 199915.0%+0.95pp
- 199814.1%-0.89pp
- 199715.0%-0.66pp
- 199615.6%-0.28pp
- 199515.9%+1.99pp
- 199413.9%-86.08pp
- 1993100.0%0.00pp
- 1992100.0%0.00pp
- 1991100.0%0.00pp
- 1990100.0%0.00pp
- 1989100.0%0.00pp
- 1988100.0%0.00pp
- 1987100.0%0.00pp
- 1986100.0%0.00pp
- 1985100.0%—
Operating Margin values are taken from CMS Energy's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at CMS Energy (CMS)
According to CMS Energy's latest reported financial statements, the company's latest reported operating margin is 19.5%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
The 2025 reading of CMS Energy (CMS) operating margin is 20.22% – expanded 0.4 percentage points year-over-year.
The highest annual operating margin of 100.00% was reported in 1985. The lowest in the available history was -8.52% in 2005.
CMS Energy Operating Margin by Year
CMS Energy Operating Margin 2025: 20.2%
CMS Energy posted operating margin of 20.22% in 2025, expanded 0.4 percentage points from 2024.
CMS Energy Operating Margin 2024: 19.8%
In 2024, CMS Energy reported operating margin of 19.79%, expanded 3.2 percentage points from 2023.
CMS Energy Operating Margin 2023: 16.6%
CMS Energy operating margin in 2023 was 16.55%, expanded 2.3 percentage points from 2022.
CMS Energy Operating Margin 2022: 14.2%
2022's operating margin for CMS Energy came in at 14.24%, contracted 1.4 percentage points from 2021.
CMS Energy Operating Margin 2021: 15.6%
CMS Energy operating margin in 2021 was 15.64%.
See more financial history for CMS Energy (CMS).
Sector peers by Operating Margin
Utilities peers of CMS Energy (CMS), ranked by their latest operating margin
Frequently asked questions
CMS Energy (CMS) Key Financials
Charts, filings, and peer comparison for every metric
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation