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CMSCMS Energy

Utilities · Electric & Gas Utilities · NYSE

CMS Energy was formed as a corporation in Michigan in 1987 and is an energy company operating primarily in Michigan. 10-K, Item 1

Headquarters
Jackson, MI
Next results
around Feb 4, 2027
Compare with peers → Embed
RevenueFY2016–25 $8.5B+13.6% FY2024: $7.5B 10-K FY2025 · XBRL Net incomeFY2016–25 $1.1B+6.8% FY2024: $1.0B 10-K FY2025 · XBRL Operating marginFY2016–25 20.2%+0.4 pts 19.6% in FY2016 10-K FY2025 · XBRL

What changed

10-K filed Feb 10, 2026 against Feb 11, 2025
AreaWhat changedSource
Risk factors5 new paragraphs, nothing like them in the previous 10-K10-K Item 1A
Accounting checks9 other checks clear10-K · XBRL
InsidersNo open-market buys in the last 90 daysForm 4
Filings4 in the last 30 daysEDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 10, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-11. Quoted as filed.

  1. FERC issued an advance notice of proposed rulemaking in response to the Secretary of the DOE’s direction to FERC to consider the advance notice of proposed rulemaking as a means to standardize and expedite interconnection procedures and agreements for large electric loads. If FERC asserts jurisdiction over the distribution components of…
    10-K, Item 1A
All 5 new paragraphs →

Accounting checks

latest 10-K

9 of 9 clear 0 worth a look. Checks, not verdicts.

  • ✓
    Cash from operations $2.2B vs net income $1.1B (FY ending 2025-12-31)
  • ✓
    Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
  • ✓
    No statement of substantial doubt about going concern
  • ✓
    No 8-K item 4.02 in the last 2 years
  • ✓
    No NT 10-K or NT 10-Q in the last 2 years
  • ✓
    The same matters as last year: Accounting for the Effects of New Regulatory Matters
  • ✓
    No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • ✓
    No 8-K item 2.06 in the last 2 years
  • ✓
    No 8-K item 1.03 in the last 2 years
How each check works, with sources →

In the last 30 days

All filings →

Work on CMS in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/CMS/export.csv") into a cell.