CMS ENERGY CORPORATION (CMS) Spending and interest coverage
- R&D / revenue · 12 months: Value (m); Formula and calculation Research and development expense / revenue. Period ending 2026-06-30..
- Stock-based compensation / revenue · 12 months: Value (m); Formula and calculation Share-based compensation / revenue. Period ending 2026-06-30..
- Interest coverage · 12 months: Value (m); Formula and calculation Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified..
Spending and interest coverage
Overview →Financial period ending 2026-06-30; current quote (m). Amounts retain their stated periods and units.
| Metric | Value | Formula and calculation |
|---|---|---|
| R&D / revenue · 12 months | (m) | Research and development expense / revenue. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Stock-based compensation / revenue · 12 months | (m) | Share-based compensation / revenue. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Interest coverage · 12 months | (m) | Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified. Calculation unavailable: missing inputs remain (m). |
Calculation inputs
| Input | Amount with unit | Raw financial data |
|---|---|---|
| Research and development spending | (m) | |
| Revenue | 8.59B USD | Revenue from Contract with Customer, Excluding Assessed Tax |
| Stock-based compensation | (m) | |
| Operating income | 1.67B USD | Operating Income (Loss) |
| Interest expense · reported / estimated | (m) | Interest Expense · Estimated expense assumptions |
Latest interest expense basis: (m). Estimated values carry *; expand each history row’s basis for its dated balances and rate assumptions.
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 | Research and development spending (USD) | Revenue (USD) | Stock-based compensation (USD) | Operating income (USD) | Interest expense · reported / estimated (USD) | R&D / revenue | SBC / revenue | Interest coverage | Interest expense basis |
|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | (m) | $8.59B | (m) | $1.67B | (m) | (m) | (m) | (m) | (m) |
| 2026-03-31 | (m) | $8.58B | (m) | $1.72B | (m) | (m) | (m) | (m) | (m) |
| 2025-12-31 | (m) | $8.30B | (m) | $1.73B | (m) | (m) | (m) | (m) | (m) |
| 2025-09-30 | (m) | $8.06B | (m) | $1.72B | (m) | (m) | (m) | (m) | (m) |
| 2025-06-30 | (m) | $7.80B | (m) | $1.60B | (m) | (m) | (m) | (m) | (m) |
| 2025-03-31 | (m) | $7.57B | (m) | $1.57B | (m) | (m) | (m) | (m) | (m) |
| 2024-12-31 | (m) | $7.32B | (m) | $1.49B | (m) | (m) | (m) | (m) | (m) |
| 2024-09-30 | (m) | $7.29B | (m) | $1.47B | (m) | (m) | (m) | (m) | (m) |
| 2024-06-30 | (m) | $7.22B | (m) | $1.37B | (m) | (m) | (m) | (m) | (m) |
| 2024-03-31 | (m) | $7.16B | (m) | $1.33B | $673.00M | (m) | (m) | 1.98× | Reported |
| 2023-12-31 | (m) | $7.26B | (m) | $1.24B | $643.00M | (m) | (m) | 1.92× | Reported |
| 2023-09-30 | (m) | $7.61B | (m) | $1.10B | $610.00M | (m) | (m) | 1.80× | Reported |
| 2023-06-30 | (m) | $7.92B | (m) | $1.09B | $576.00M | (m) | (m) | 1.89× | Reported |
| 2023-03-31 | (m) | $8.25B | (m) | $1.08B | $542.00M | (m) | (m) | 2.00× | Reported |
| 2022-12-31 | (m) | $8.32B | (m) | $1.22B | $519.00M | (m) | (m) | 2.36× | Reported |
| 2022-09-30 | (m) | $8.04B | (m) | $1.16B | $506.00M | (m) | (m) | 2.29× | Reported |
| 2022-06-30 | (m) | $7.76B | (m) | $1.16B | $501.00M | (m) | (m) | 2.31× | Reported |
| 2022-03-31 | (m) | $7.43B | (m) | $1.17B | $500.00M | (m) | (m) | 2.34× | Reported |
| 2021-12-31 | (m) | $7.08B | (m) | $1.15B | $500.00M | (m) | (m) | 2.29× | Reported |
| 2021-09-30 | (m) | $6.82B | (m) | $1.38B | $557.00M | (m) | (m) | 2.48× | Reported |
| 2021-06-30 | (m) | $6.61B | (m) | $1.46B | $562.00M | (m) | (m) | 2.60× | Reported |
| 2021-03-31 | (m) | $6.44B | (m) | $1.48B | $560.00M | (m) | (m) | 2.64× | Reported |
| 2020-12-31 | (m) | $6.24B | (m) | $1.36B | $561.00M | (m) | (m) | 2.43× | Reported |
| 2020-09-30 | (m) | $6.23B | (m) | $1.32B | $555.00M | (m) | (m) | 2.38× | Reported |
| 2020-06-30 | (m) | $6.20B | (m) | $1.30B | $545.00M | (m) | (m) | 2.39× | Reported |
| 2020-03-31 | (m) | $6.20B | (m) | $1.25B | $535.00M | (m) | (m) | 2.33× | Reported |
| 2019-12-31 | (m) | $6.40B | (m) | $1.24B | $519.00M | (m) | (m) | 2.39× | Reported |
| 2019-09-30 | (m) | $6.44B | (m) | $1.18B | $506.00M | (m) | (m) | 2.33× | Reported |
| 2019-06-30 | (m) | $6.52B | (m) | $1.12B | $487.00M | (m) | (m) | 2.30× | Reported |
| 2019-03-31 | (m) | $6.59B | (m) | $1.16B | $468.00M | (m) | (m) | 2.47× | Reported |
| 2018-12-31 | (m) | $6.50B | (m) | $1.16B | $458.00M | (m) | (m) | 2.54× | Reported |
| 2018-09-30 | (m) | $6.58B | (m) | $1.29B | $447.00M | (m) | (m) | 2.89× | Reported |
| 2018-06-30 | (m) | $6.59B | (m) | $1.33B | $444.00M | (m) | (m) | 2.99× | Reported |
| 2018-03-31 | (m) | $6.63B | (m) | $1.31B | $442.00M | (m) | (m) | 2.97× | Reported |
| 2017-12-31 | (m) | $6.58B | (m) | $1.34B | $438.00M | (m) | (m) | 3.05× | Reported |
| 2017-09-30 | (m) | $6.45B | (m) | $1.28B | $439.00M | (m) | (m) | 2.92× | Reported |
| 2017-06-30 | (m) | $6.50B | (m) | $1.32B | $438.00M | (m) | (m) | 3.03× | Reported |
| 2017-03-31 | (m) | $6.43B | (m) | $1.36B | $436.00M | (m) | (m) | 3.12× | Reported |
| 2016-12-31 | (m) | $6.40B | (m) | $1.30B | $435.00M | (m) | (m) | 2.98× | Reported |
| 2016-09-30 | (m) | $6.27B | (m) | $1.25B | $415.00M | (m) | (m) | 3.02× | Reported |
| 2016-06-30 | (m) | $6.17B | (m) | $1.18B | $406.00M | (m) | (m) | 2.91× | Reported |
| 2016-03-31 | (m) | $6.15B | (m) | $1.10B | $401.00M | (m) | (m) | 2.75× | Reported |
| 2015-12-31 | (m) | $6.46B | (m) | $1.16B | $396.00M | (m) | (m) | 2.94× | Reported |
| 2015-09-30 | (m) | $6.71B | (m) | $1.19B | $409.00M | (m) | (m) | 2.91× | Reported |
| 2015-06-30 | (m) | $6.65B | (m) | $1.11B | $409.00M | (m) | (m) | 2.71× | Reported |
| 2015-03-31 | (m) | $6.77B | (m) | $1.14B | $407.00M | (m) | (m) | 2.80× | Reported |
| 2014-12-31 | (m) | $7.18B | (m) | $1.15B | $407.00M | (m) | (m) | 2.83× | Reported |
| 2014-09-30 | (m) | $7.16B | (m) | $1.14B | $402.00M | (m) | (m) | 2.84× | Reported |
| 2014-06-30 | (m) | $7.17B | (m) | $1.22B | $400.00M | (m) | (m) | 3.06× | Reported |
| 2014-03-31 | (m) | $7.11B | (m) | $1.22B | $401.00M | (m) | (m) | 3.04× | Reported |
| 2013-12-31 | (m) | $6.57B | (m) | $1.14B | $398.00M | (m) | (m) | 2.87× | Reported |
| 2013-09-30 | (m) | $6.50B | (m) | $1.09B | $395.00M | (m) | (m) | 2.76× | Reported |
| 2013-06-30 | (m) | $6.56B | (m) | $1.12B | $392.00M | (m) | (m) | 2.85× | Reported |
| 2013-03-31 | (m) | $6.49B | (m) | $1.14B | $388.00M | (m) | (m) | 2.95× | Reported |
| 2012-12-31 | (m) | $6.25B | (m) | $1.00B | $389.00M | (m) | (m) | 2.58× | Reported |
| 2012-09-30 | (m) | $6.20B | (m) | $965.00M | (m) | (m) | (m) | (m) | (m) |
| 2012-06-30 | (m) | $6.16B | (m) | $938.00M | (m) | (m) | (m) | (m) | (m) |
| 2012-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2011-12-31 | (m) | $6.50B | (m) | $1.00B | $415.00M | (m) | (m) | 2.42× | Reported |
| 2011-09-30 | (m) | $6.57B | (m) | $987.00M | $420.00M | (m) | (m) | 2.35× | Reported |
| 2011-06-30 | (m) | $6.54B | (m) | $990.00M | $418.00M | (m) | (m) | 2.37× | Reported |
| 2011-03-31 | (m) | $6.52B | (m) | $1.04B | $431.00M | (m) | (m) | 2.42× | Reported |
| 2010-12-31 | (m) | $6.43B | (m) | $978.00M | $431.00M | (m) | (m) | 2.27× | Reported |
| 2010-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2010-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2010-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2009-12-31 | (m) | $6.21B | (m) | $698.00M | $435.00M | (m) | (m) | 1.60× | Reported |
| 2009-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2009-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2008-12-31 | (m) | $6.81B | (m) | $794.00M | $400.00M | (m) | (m) | 1.99× | Reported |
(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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