What is the current annual gross margin of CMS?

As of today, CMS annual gross margin is 20.22%

What is 1-year change in CMS annual gross margin?

CMS annual gross margin is down -22.82% year-over-year

What is 3-year change in CMS annual gross margin?

CMS annual gross margin is up +6.25% over the past 3 years

How far is CMS annual gross margin from its all-time high?

CMS annual gross margin is currently -58.37% below its historical high of 48.57% set on December 31, 1989

How does CMS annual gross margin rank versus sector peers?

CMS annual gross margin is higher than 27.45% of companies in Utilities sector

When is CMS next annual earnings release?

The next annual earnings release for CMS is on February 4, 2027

What is the current quarterly gross margin of CMS?

As of today, CMS quarterly gross margin is 31.29%

What is CMS quarterly gross margin most recent change?

CMS quarterly gross margin was up +49.78% on September 30, 2026

What is 1-year change in CMS quarterly gross margin?

CMS quarterly gross margin is up +7.56% year-over-year

How far is CMS quarterly gross margin from its all-time high?

CMS quarterly gross margin is currently -61.01% below its historical high of 80.25% set on December 31, 2003

How does CMS quarterly gross margin rank versus sector peers?

CMS quarterly gross margin is higher than 51.00% of companies in Utilities sector

When is CMS next earnings release?

The next earnings release for CMS is on February 4, 2027

CMS Gross Margin History & Chart Since 1980

Annual Gross Margin

20.22%5.98%-22.82%

December 31, 2025

Summary

Current Value: As of today, CMS annual gross margin is 20.22%, down -22.82% on December 31, 2025
Historical Performance: CMS annual gross margin is up +6.25% over the past 3 years, down -18.24% over the past 5 years
All-Time High Comparison: CMS annual gross margin is currently -58.37% below its historical high of 48.57% set on December 31, 1989
3-Year Low Comparison: CMS annual gross margin is +6.25% above its 3-year low of 19.03% reached on an earlier date
Sector Comparison: CMS annual gross margin is higher than 27.45% of companies in Utilities sector

Gross Margin Chart

beforeafter

Performance

CMS Performance
Metric	Date	Value	1Y	3Y	5Y	15Y
Annual Gross Margin	Dec 31, 25	20.22%	-22.8%	+6.3%	-18.2%	+15.9%
Quarterly Gross Margin	Sep 30, 26	31.29%	+7.6%	+44.6%	+58.3%	+31.0%
Price	Nov 12, 26	$69.22	-6.4%	+25.1%	+15.4%	+226.4%
PE Ratio	Nov 12, 26	24.73	+15.9%	+13.4%	+24.0%	+78.0%
Annual Revenue	Dec 31, 25	$8.54B	+13.6%	-0.7%	+33.0%	+32.8%
Annual Gross Profit	Dec 31, 25	$1.73B	-12.3%	+5.6%	+8.8%	+53.9%
Annual Operating Margin	Dec 31, 25	20.22%	+2.2%	+42.0%	+5.5%	+42.5%
Annual Net Margin	Dec 31, 25	11.73%	-6.9%	+24.6%	+8.5%	+106.2%

Gross Margin Highs

CMS Annual Gross Margin Highs Comparison
Period	High	Date	Current
3Y	26.20%	Dec 31, 24	-22.8%
5Y	26.20%	Dec 31, 24	-22.8%
All	48.57%	Dec 31, 89	-58.4%

Gross Margin Lows

CMS Annual Gross Margin Lows Comparison
Period	Low	Date	Current
3Y	19.03%	N/A	+6.3%
5Y	19.03%	Dec 31, 22	+6.3%
All	0.00%	Dec 1, 80	N/A

Gross Margin History

Year	Value	Change
2025	20.22%	-22.8%
2024	26.20%	+16.2%
2023	22.54%	+18.4%
2022	19.03%	-9.1%
2021	20.94%	-15.3%
2020	24.73%	+7.7%
2019	22.97%	+7.7%
2018	21.32%	-13.5%
2017	24.64%	0.0%
2016	24.64%	+11.5%
2015	22.09%	+12.9%
2014	19.56%	-6.7%
2013	20.96%	+6.4%
2012	19.69%	+6.0%
2011	18.58%	+6.5%
2010	17.45%	+20.2%
2009	14.52%	+0.1%
2008	14.51%	+45.4%
2007	9.98%	+27.0%
2006	7.86%	-79.4%
2005	38.17%	-1.4%
2004	38.71%	+12.7%
2003	34.36%	+49.1%

Year	Value	Change
2002	23.05%	-22.1%
2001	29.59%	+62.9%
2000	18.17%	-24.4%
1999	24.02%	+5.9%
1998	22.68%	-4.0%
1997	23.63%	-3.1%
1996	24.39%	-3.7%
1995	25.32%	+4.1%
1994	24.32%	+34.0%
1993	18.15%	+32.5%
1992	13.70%	+49.2%
1991	9.18%	-79.5%
1990	44.81%	-7.7%
1989	48.57%	+3.8%
1988	46.77%	>+9,900.0%
1987	0.00%	0.0%
1986	0.00%	0.0%
1985	0.00%	0.0%
1984	0.00%	0.0%
1983	0.00%	0.0%
1982	0.00%	0.0%
1981	0.00%	0.0%
1980	0.00%	-

FAQ

What is the current annual gross margin of CMS?: As of today, CMS annual gross margin is 20.22%
What is 1-year change in CMS annual gross margin?: CMS annual gross margin is down -22.82% year-over-year
What is 3-year change in CMS annual gross margin?: CMS annual gross margin is up +6.25% over the past 3 years
How far is CMS annual gross margin from its all-time high?: CMS annual gross margin is currently -58.37% below its historical high of 48.57% set on December 31, 1989
How does CMS annual gross margin rank versus sector peers?: CMS annual gross margin is higher than 27.45% of companies in Utilities sector
When is CMS next annual earnings release?: The next annual earnings release for CMS is on February 4, 2027

Gross Margin Formula

Gross Margin = Gross Profit

Revenue × 100%

Quarterly Gross Margin

31.29%10.40%+49.78%

September 30, 2026

Summary

Current Value: As of today, CMS quarterly gross margin is 31.29%, up +49.78% on September 30, 2026
Historical Performance: CMS quarterly gross margin is up +7.56% year-over-year, up +44.59% over the past 3 years
All-Time High Comparison: CMS quarterly gross margin is currently -61.01% below its historical high of 80.25% set on December 31, 2003
3-Year Low Comparison: CMS quarterly gross margin is +49.78% above its 3-year low of 20.89% reached on June 30, 2026
Sector Comparison: CMS quarterly gross margin is higher than 51.00% of companies in Utilities sector

Performance

CMS Performance
Metric	Date	Value	3M	1Y	3Y	5Y
Quarterly Gross Margin	Sep 30, 26	31.29%	+49.8%	+7.6%	+44.6%	+58.3%
Annual Gross Margin	Dec 31, 25	20.22%	–	-22.8%	+6.3%	-18.2%
Price	Nov 12, 26	$69.22	-1.8%	-6.4%	+25.1%	+15.4%
PE Ratio	Nov 12, 26	24.73	+16.7%	+15.9%	+13.4%	+24.0%
Quarterly Revenue	Sep 30, 26	$2.18B	+19.4%	+8.0%	+30.5%	+26.6%
Quarterly Gross Profit	Sep 30, 26	$683.00M	+78.8%	+16.2%	+88.7%	+100.3%
Quarterly Operating Margin	Sep 30, 26	26.20%	+81.6%	+10.1%	+61.7%	+73.9%
Quarterly Net Margin	Sep 30, 26	-4.17%	-179.4%	-131.0%	-140.3%	-147.0%

Quarterly Gross Margin Highs

CMS Quarterly Gross Margin Highs Comparison
Period	High	Date	Current
1Y	31.29%	Sep 30, 26	at high
3Y	31.29%	Sep 30, 26	at high
5Y	31.29%	Sep 30, 26	at high
All	80.25%	Dec 31, 03	-61.0%

Quarterly Gross Margin Lows

CMS Quarterly Gross Margin Lows Comparison
Period	Low	Date	Current
1Y	20.89%	Jun 30, 26	+49.8%
3Y	20.89%	Jun 30, 26	+49.8%
5Y	14.90%	Dec 31, 21	+110.0%
All	0.00%	Dec 31, 01	N/A

Quarterly Gross Margin History

Month	Value	Change
Sep 2026	31.29%	+49.8%
Jun 2026	20.89%	-14.0%
Mar 2026	24.29%	-4.9%
Dec 2025	25.53%	-12.2%
Sep 2025	29.09%	+25.5%
Jun 2025	23.18%	-13.5%
Mar 2025	26.81%	-3.2%
Dec 2024	27.70%	+3.6%
Sep 2024	26.74%	+11.6%
Jun 2024	23.96%	-8.1%
Mar 2024	26.06%	-2.8%
Dec 2023	26.82%	+23.9%
Sep 2023	21.64%	-1.3%
Jun 2023	21.93%	+9.8%
Mar 2023	19.97%	+21.3%
Dec 2022	16.46%	-3.5%
Sep 2022	17.05%	-0.2%
Jun 2022	17.08%	-31.0%
Mar 2022	24.77%	+66.2%
Dec 2021	14.90%	-24.6%
Sep 2021	19.77%	-9.1%
Jun 2021	21.76%	-20.6%
Mar 2021	27.42%	+17.8%
Dec 2020	23.28%	-15.3%
Sep 2020	27.47%	+17.5%
Jun 2020	23.37%	-9.6%
Mar 2020	25.86%	+16.9%
Dec 2019	22.12%	-18.8%
Sep 2019	27.23%	+36.2%
Jun 2019	20.00%	-11.4%
Mar 2019	22.58%	+24.8%
Dec 2018	18.10%	-19.8%
Sep 2018	22.58%	+4.3%
Jun 2018	21.65%	-6.0%
Mar 2018	23.04%	-9.8%
Dec 2017	25.53%	-0.5%
Sep 2017	25.67%	+21.1%
Jun 2017	21.19%	-17.4%
Mar 2017	25.64%	+16.2%
Dec 2016	22.07%	-21.8%
Sep 2016	28.23%	+12.2%
Jun 2016	25.16%	+7.1%
Mar 2016	23.49%	+15.1%
Dec 2015	20.41%	-19.3%
Sep 2015	25.30%	+29.3%
Jun 2015	19.56%	-13.6%
Mar 2015	22.64%	+18.1%
Dec 2014	19.17%	-6.4%
Sep 2014	20.49%	+3.4%
Jun 2014	19.82%	+3.6%
Mar 2014	19.14%	+2.2%
Dec 2013	18.72%	-26.9%
Sep 2013	25.61%	+27.7%
Jun 2013	20.06%	-0.5%
Mar 2013	20.16%	+24.2%
Dec 2012	16.23%	-38.1%
Sep 2012	26.24%	+13.3%
Jun 2012	23.16%	+57.3%
Mar 2012	14.72%	+4.8%
Dec 2011	14.04%	-41.2%
Sep 2011	23.89%	+25.9%
Jun 2011	18.97%	+4.7%
Mar 2011	18.11%	+43.7%
Dec 2010	12.60%	-49.8%
Sep 2010	25.12%	+34.3%
Jun 2010	18.70%	+23.5%

Month	Value	Change
Mar 2010	15.14%	+48.3%
Dec 2009	10.21%	-54.3%
Sep 2009	22.33%	+42.7%
Jun 2009	15.65%	-39.5%
Mar 2009	25.85%	+110.8%
Dec 2008	12.26%	-31.1%
Sep 2008	17.79%	+23.9%
Jun 2008	14.36%	-0.1%
Mar 2008	14.38%	+97.3%
Dec 2007	7.29%	-45.4%
Sep 2007	13.34%	+81.5%
Jun 2007	7.35%	-40.2%
Mar 2007	12.29%	+76.1%
Dec 2006	6.98%	-47.7%
Sep 2006	13.35%	+18.7%
Jun 2006	11.25%	+573.7%
Mar 2006	1.67%	+160.9%
Dec 2005	0.64%	-97.9%
Sep 2005	29.89%	+162.7%
Jun 2005	11.38%	-57.6%
Mar 2005	26.83%	-26.2%
Dec 2004	36.36%	-21.4%
Sep 2004	46.28%	+10.5%
Jun 2004	41.90%	+22.5%
Mar 2004	34.21%	-57.4%
Dec 2003	80.25%	+294.0%
Sep 2003	20.37%	-4.1%
Jun 2003	21.23%	+17.5%
Mar 2003	18.07%	-13.6%
Dec 2002	20.92%	-12.9%
Sep 2002	24.01%	+63.9%
Jun 2002	14.65%	-48.6%
Mar 2002	28.48%	>+9,900.0%
Dec 2001	0.00%	-100.0%
Sep 2001	10.55%	+23.1%
Jun 2001	8.57%	-25.2%
Mar 2001	11.46%	-22.8%
Dec 2000	14.84%	-7.4%
Sep 2000	16.03%	-26.3%
Jun 2000	21.76%	-9.6%
Mar 2000	24.08%	+6.2%
Dec 1999	22.68%	-12.1%
Sep 1999	25.81%	+2.4%
Jun 1999	25.20%	+10.7%
Mar 1999	22.76%	+11.2%
Dec 1998	20.46%	-17.8%
Sep 1998	24.88%	+1.3%
Jun 1998	24.56%	+19.2%
Mar 1998	20.60%	-27.4%
Dec 1997	28.38%	-21.8%
Sep 1997	36.31%	+5.1%
Jun 1997	34.54%	+0.3%
Mar 1997	34.44%	+17.5%
Dec 1996	29.30%	-23.3%
Sep 1996	38.21%	+5.1%
Jun 1996	36.35%	+5.5%
Mar 1996	34.45%	+4.0%
Dec 1995	33.12%	-14.9%
Sep 1995	38.90%	+7.2%
Jun 1995	36.29%	-3.9%
Mar 1995	37.78%	+14.2%
Dec 1994	33.08%	-14.4%
Sep 1994	38.64%	+11.2%
Jun 1994	34.76%	-24.7%
Mar 1994	46.15%	-

FAQ

What is the current quarterly gross margin of CMS?: As of today, CMS quarterly gross margin is 31.29%
What is CMS quarterly gross margin most recent change?: CMS quarterly gross margin was up +49.78% on September 30, 2026
What is 1-year change in CMS quarterly gross margin?: CMS quarterly gross margin is up +7.56% year-over-year
How far is CMS quarterly gross margin from its all-time high?: CMS quarterly gross margin is currently -61.01% below its historical high of 80.25% set on December 31, 2003
How does CMS quarterly gross margin rank versus sector peers?: CMS quarterly gross margin is higher than 51.00% of companies in Utilities sector
When is CMS next earnings release?: The next earnings release for CMS is on February 4, 2027

Gross Margin Formula

Gross Margin = Gross Profit

Revenue × 100%

Data Sources & References

CMS Official Website www.cmsenergy.com
Most Recent Annual Report (10-K) www.sec.gov/Archives/edgar/data/811156/000081115626000004/0000811156-26-000004-index.htm
CMS Profile on Yahoo Finance finance.yahoo.com/quote/CMS
CMS Profile on NASDAQ.com www.nasdaq.com/market-activity/stocks/cms