CMS

CMS Energy Corporation

Utilities · $19.6B market cap

Share price

$63.74

close of Oct 3, 2026

Fair value

$77.94

Sticker Price

Payback Price

$31.18

buy price

Undervalued

CMS is Undervalued: at $63.74 it trades 18% below its fair value of $77.94. Its buy price (Payback Price) is $31.18, 51% below today's price. Business quality is limited: none of the 5 key numbers clears the 10% bar.

How we valued it

Dividend Discount Model. A regulated utility with a steady dividend record, so we value it on the dividends it pays.

Business quality

0 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth8.4% a year✗

Equity per share growth5.4% a year✗

Sales growth1.1% a year✗

Free cash flow growth5.6% a year✗

Return on invested capital3.6%✗

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Insider activity

Since Jun 15, 2026: 1 open-market purchase worth $14K and 1 other filing (stock awards, tax withholding and similar). Why purchases matter

Purchases

MADDIPATI SRIKANTH

EVP/CFO · 2026-07-31

Bought

$14K

Other filings

MADDIPATI SRIKANTH

EVP/CFO · 2026-06-15

Award

10,184 shares

About CMS Energy Corporation

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and NorthStar Clean Energy. The Electric Utility segment is involved in the generation, purchase, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources. Its distribution system…

Regulated Electric