CMS ENERGY CORPORATION (CMS) Free cash flow
- Free cash flow · 12 months (USD): Value (m); Formula and calculation Operating cash flow minus capital spending; distinct from the saved levered FCF quote figure. Period ending 2026-06-30..
- Price / free cash flow · 12 months: Value (m); Formula and calculation Market cap / trailing-year free cash flow; inverse of FCF yield before percent scaling. Period ending 2026-06-30..
- Free cash flow yield · 12 months: Value (m); Formula and calculation (Operating cash flow − capital spending) / current market cap. Period ending 2026-06-30..
- Free cash flow margin · 12 months: Value (m); Formula and calculation (Operating cash flow − capital spending) / revenue. Period ending 2026-06-30..
Free cash flow
Overview →Financial period ending 2026-06-30; current quote (m). Amounts retain their stated periods and units.
| Metric | Value | Formula and calculation |
|---|---|---|
| Free cash flow · 12 months (USD) | (m) | Operating cash flow minus capital spending; distinct from the saved levered FCF quote figure. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Price / free cash flow · 12 months | (m) | Market cap / trailing-year free cash flow; inverse of FCF yield before percent scaling. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Free cash flow yield · 12 months | (m) | (Operating cash flow − capital spending) / current market cap. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Free cash flow margin · 12 months | (m) | (Operating cash flow − capital spending) / revenue. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Free cash flow per share · 12 months | (m) | (Trailing-year operating cash flow − capital spending) / reported quarter-end common shares. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Operating cash flow · 12 months | $2.15B | Cash generated by operating activities. Period ending 2026-06-30. |
| Operating cash flow / net income · 12 months | 2.09× | Operating cash flow / net income. Period ending 2026-06-30. $2.15B ÷ $1.03B ≈ 2.09× |
Calculation inputs
| Input | Amount with unit | Raw financial data |
|---|---|---|
| Operating cash flow | 2.15B USD | Net Cash Provided by (Used in) Operating Activities · Net Cash Provided by (Used in) Operating Activities, Continuing Operations |
| Capital spending | (m) | Payments to Acquire Property, Plant, and Equipment |
| Market cap | (m) | |
| Free cash flow | (m) | Net Cash Provided by (Used in) Operating Activities · Net Cash Provided by (Used in) Operating Activities, Continuing Operations · Payments to Acquire Property, Plant, and Equipment |
| Revenue | 8.59B USD | Revenue from Contract with Customer, Excluding Assessed Tax |
| Quarter-end shares | (m) | Common Stock, Shares, Outstanding |
| Net income | 1.03B USD | Net Income (Loss) Attributable to Parent |
Calculated history
Changes compare with the next older row (previous quarter), unless explicitly labeled otherwise. Rolling 12-month growth compares two successive quarter-end rolling totals; it is not year-over-year growth.
| Period ending | Free cash flow | FCF per share | Operating cash flow | Capital spending (USD) | Market cap (USD) | Revenue (USD) | Quarter-end shares (shares) | Net income (USD) | Price / FCF | FCF yield | FCF margin | Cash conversion |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | (m) | (m) | $2.15B | (m) | (m) | $8.59B | (m) | $1.03B | (m) | (m) | (m) | 2.09× |
| 2026-03-31 | (m) | (m) | $1.94B | (m) | (m) | $8.58B | (m) | $1.11B | (m) | (m) | (m) | 1.75× |
| 2025-12-31 | (m) | (m) | $2.23B | (m) | (m) | $8.30B | (m) | $1.07B | (m) | (m) | (m) | 2.09× |
| 2025-09-30 | (m) | (m) | $2.16B | (m) | (m) | $8.06B | (m) | $1.05B | (m) | (m) | (m) | 2.06× |
| 2025-06-30 | (m) | (m) | $2.12B | (m) | (m) | $7.80B | (m) | $1.02B | (m) | (m) | (m) | 2.07× |
| 2025-03-31 | (m) | (m) | $2.41B | (m) | (m) | $7.57B | (m) | $1.02B | (m) | (m) | (m) | 2.37× |
| 2024-12-31 | (m) | (m) | $2.37B | (m) | (m) | $7.32B | (m) | $1.00B | (m) | (m) | (m) | 2.36× |
| 2024-09-30 | (m) | (m) | $2.37B | (m) | (m) | $7.29B | (m) | $1.05B | (m) | (m) | (m) | 2.27× |
| 2024-06-30 | (m) | (m) | $2.27B | (m) | (m) | $7.22B | (m) | $970.00M | (m) | (m) | (m) | 2.34× |
| 2024-03-31 | (m) | (m) | $2.23B | (m) | (m) | $7.16B | (m) | $970.00M | (m) | (m) | (m) | 2.29× |
| 2023-12-31 | (m) | (m) | $2.31B | (m) | (m) | $7.26B | (m) | $887.00M | (m) | (m) | (m) | 2.60× |
| 2023-09-30 | (m) | (m) | $2.09B | (m) | (m) | $7.61B | (m) | $749.00M | (m) | (m) | (m) | 2.79× |
| 2023-06-30 | (m) | (m) | $1.50B | (m) | (m) | $7.92B | (m) | $738.00M | (m) | (m) | (m) | 2.03× |
| 2023-03-31 | $-1.28B | (m) | $1.19B | $2.47B | (m) | $8.25B | (m) | $688.00M | (m) | (m) | -15.55% | 1.73× |
| 2022-12-31 | $-1.52B | (m) | $855.00M | $2.37B | (m) | $8.32B | (m) | $837.00M | (m) | (m) | -18.26% | 1.02× |
| 2022-09-30 | $-1.37B | (m) | $1.00B | $2.37B | (m) | $8.04B | (m) | $1.30B | (m) | (m) | -17.02% | 0.77× |
| 2022-06-30 | $-775.00M | (m) | $1.51B | $2.29B | (m) | $7.76B | (m) | $1.33B | (m) | (m) | -9.99% | 1.14× |
| 2022-03-31 | $-466.00M | (m) | $1.69B | $2.16B | (m) | $7.43B | (m) | $1.36B | (m) | (m) | -6.27% | 1.25× |
| 2021-12-31 | $-257.00M | (m) | $1.82B | $2.08B | (m) | $7.08B | (m) | $1.35B | (m) | (m) | -3.63% | 1.34× |
| 2021-09-30 | $-451.00M | (m) | $1.61B | $2.07B | (m) | $6.82B | (m) | $872.00M | (m) | (m) | -6.62% | 1.85× |
| 2021-06-30 | $-404.00M | (m) | $1.85B | $2.25B | (m) | $6.61B | (m) | $901.00M | (m) | (m) | -6.11% | 2.05× |
| 2021-03-31 | $-324.00M | (m) | $1.91B | $2.23B | (m) | $6.44B | (m) | $861.00M | (m) | (m) | -5.03% | 2.21× |
| 2020-12-31 | $-1.04B | (m) | $1.28B | $2.32B | (m) | $6.24B | (m) | $755.00M | (m) | (m) | -16.69% | 1.69× |
| 2020-09-30 | $-692.00M | (m) | $1.54B | $2.23B | (m) | $6.23B | (m) | $764.00M | (m) | (m) | -11.11% | 2.01× |
| 2020-06-30 | $-676.00M | (m) | $1.40B | $2.08B | (m) | $6.20B | (m) | $753.00M | (m) | (m) | -10.90% | 1.86× |
| 2020-03-31 | $-772.00M | (m) | $1.37B | $2.15B | (m) | $6.20B | (m) | (m) | (m) | (m) | -12.44% | (m) |
| 2019-12-31 | $-314.00M | (m) | $1.79B | $2.10B | (m) | $6.40B | (m) | $680.00M | (m) | (m) | -4.90% | 2.63× |
| 2019-09-30 | $-539.00M | (m) | $1.53B | $2.07B | (m) | $6.44B | (m) | $621.00M | (m) | (m) | -8.37% | 2.47× |
| 2019-06-30 | $-703.00M | (m) | $1.47B | $2.17B | (m) | $6.52B | (m) | $583.00M | (m) | (m) | -10.78% | 2.52× |
| 2019-03-31 | $-521.00M | (m) | $1.61B | $2.13B | (m) | $6.59B | (m) | (m) | (m) | (m) | -7.91% | (m) |
| 2018-12-31 | $-371.00M | (m) | $1.70B | $2.07B | (m) | $6.50B | (m) | $657.00M | (m) | (m) | -5.71% | 2.59× |
| 2018-09-30 | $42.00M | (m) | $2.07B | $2.03B | (m) | $6.58B | (m) | $546.00M | (m) | (m) | 0.64% | 3.79× |
| 2018-06-30 | $211.00M | (m) | $2.00B | $1.79B | (m) | $6.59B | (m) | $549.00M | (m) | (m) | 3.20% | 3.65× |
| 2018-03-31 | $45.00M | (m) | $1.77B | $1.72B | (m) | $6.63B | (m) | (m) | (m) | (m) | 0.68% | (m) |
| 2017-12-31 | $40.00M | (m) | $1.71B | $1.67B | (m) | $6.58B | (m) | $460.00M | (m) | (m) | 0.61% | 3.71× |
| 2017-09-30 | $-69.00M | (m) | $1.59B | $1.66B | (m) | $6.45B | (m) | $540.00M | (m) | (m) | -1.07% | 2.94× |
| 2017-06-30 | $46.00M | (m) | $1.65B | $1.60B | (m) | $6.50B | (m) | $554.00M | (m) | (m) | 0.71% | 2.97× |
| 2017-03-31 | $13.00M | (m) | $1.64B | $1.63B | (m) | $6.43B | (m) | (m) | (m) | (m) | 0.20% | (m) |
| 2016-12-31 | $-43.00M | (m) | $1.63B | $1.67B | (m) | $6.40B | (m) | $551.00M | (m) | (m) | -0.67% | 2.96× |
| 2016-09-30 | $-225.00M | (m) | $1.46B | $1.69B | (m) | $6.27B | (m) | $580.00M | (m) | (m) | -3.59% | 2.52× |
| 2016-06-30 | $-227.00M | (m) | $1.48B | $1.71B | (m) | $6.17B | (m) | $542.00M | (m) | (m) | -3.68% | 2.73× |
| 2016-03-31 | $-111.00M | (m) | $1.51B | $1.62B | (m) | $6.15B | (m) | (m) | (m) | (m) | -1.81% | (m) |
| 2015-12-31 | $76.00M | (m) | $1.64B | $1.56B | (m) | $6.46B | (m) | $523.00M | (m) | (m) | 1.18% | 3.14× |
| 2015-09-30 | $351.00M | (m) | $1.91B | $1.55B | (m) | $6.71B | (m) | $513.00M | (m) | (m) | 5.23% | 3.71× |
| 2015-06-30 | $183.00M | (m) | $1.77B | $1.59B | (m) | $6.65B | (m) | $459.00M | (m) | (m) | 2.75% | 3.86× |
| 2015-03-31 | $-25.00M | (m) | $1.60B | $1.62B | (m) | $6.77B | (m) | (m) | (m) | (m) | -0.37% | (m) |
| 2014-12-31 | $-130.00M | (m) | $1.45B | $1.58B | (m) | $7.18B | (m) | $477.00M | (m) | (m) | -1.81% | 3.03× |
| 2014-09-30 | $-285.00M | (m) | $1.26B | $1.55B | (m) | $7.16B | (m) | (m) | (m) | (m) | -3.98% | (m) |
| 2014-06-30 | $-145.00M | (m) | $1.26B | $1.41B | (m) | $7.17B | (m) | (m) | (m) | (m) | -2.02% | (m) |
| 2014-03-31 | $-48.00M | (m) | $1.31B | $1.35B | (m) | $7.11B | (m) | (m) | (m) | (m) | -0.68% | (m) |
| 2013-12-31 | $96.00M | (m) | $1.42B | $1.32B | (m) | $6.57B | (m) | (m) | (m) | (m) | 1.46% | (m) |
| 2013-09-30 | $159.00M | (m) | $1.43B | $1.27B | (m) | $6.50B | (m) | (m) | (m) | (m) | 2.45% | (m) |
| 2013-06-30 | $161.00M | (m) | $1.39B | $1.23B | (m) | $6.56B | (m) | (m) | (m) | (m) | 2.45% | (m) |
| 2013-03-31 | $124.00M | (m) | $1.33B | $1.21B | (m) | $6.49B | (m) | (m) | (m) | (m) | 1.91% | (m) |
| 2012-12-31 | $14.00M | (m) | $1.24B | $1.23B | (m) | $6.25B | (m) | $382.00M | (m) | (m) | 0.22% | 3.25× |
| 2012-09-30 | (m) | (m) | (m) | (m) | (m) | $6.20B | (m) | (m) | (m) | (m) | (m) | (m) |
| 2012-06-30 | (m) | (m) | (m) | (m) | (m) | $6.16B | (m) | (m) | (m) | (m) | (m) | (m) |
| 2012-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2011-12-31 | $287.00M | (m) | $1.17B | $882.00M | (m) | $6.50B | (m) | $415.00M | (m) | (m) | 4.41% | 2.82× |
| 2011-09-30 | (m) | (m) | $1.16B | (m) | (m) | $6.57B | (m) | $399.00M | (m) | (m) | (m) | 2.90× |
| 2011-06-30 | (m) | (m) | $1.13B | (m) | (m) | $6.54B | (m) | $405.00M | (m) | (m) | (m) | 2.78× |
| 2011-03-31 | (m) | (m) | $1.14B | (m) | (m) | $6.52B | (m) | (m) | (m) | (m) | (m) | (m) |
| 2010-12-31 | (m) | (m) | $959.00M | (m) | (m) | $6.43B | (m) | $340.00M | (m) | (m) | (m) | 2.82× |
| 2010-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2010-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2010-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2009-12-31 | (m) | (m) | $848.00M | (m) | (m) | $6.21B | (m) | $229.00M | (m) | (m) | (m) | 3.70× |
| 2009-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2009-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2008-12-31 | (m) | (m) | $557.00M | (m) | (m) | $6.81B | (m) | $295.00M | (m) | (m) | (m) | 1.89× |
(m) means missing inputs. Historical market-based ratios use the saved close on or immediately before period ending and that period’s reported shares; current quotes are not substituted. Five-year projections repeat historical CAGR, not analyst forecasts.
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