CMS Energy forward PE CMS

Share price divided by analysts' consensus earnings for the next twelve months, since 1996.

Today, Oct 23, 2026: 16.8×
10-year median: 21.7×
Against its 10-year history: 3rd; percentile: 0 is its lowest day, 100 its highest
10-year range: 15.3× to 31.8×
Peer median: 16.1×

CMS Energy's forward PE is 16.8× as of Oct 23, 2026.

That is below its ten-year median of 21.7×, lower than on 97% of days in the last ten years.

Over that time it ranged from 15.3× in Sep 2026 to 31.8× in May 2022.

The median for 10 electric utilities of a similar size is 16.1×.

Forward PE over time

median 21.7×

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	16.8×	15.3×	20.7×
2025	19.5×	19.1×	23.0×
2024	19.6×	16.8×	21.4×
2023	17.3×	16.1×	25.2×
2022	24.8×	21.6×	31.8×
2021	25.5×	21.2×	25.6×
2020	22.9×	18.9×	27.5×
2019	23.8×	20.9×	25.2×
2018	22.5×	19.4×	24.2×
2017	21.5×	20.2×	22.8×
2016	22.0×	19.3×	24.8×
2015	19.3×	18.1×	21.1×
2014	20.3×	15.6×	20.3×
2013	15.8×	14.4×	17.8×
2012	16.1×	13.9×	16.6×
2011	15.5×	13.3×	15.7×
2010	13.4×	10.9×	14.7×
2009	11.5×	8.1×	11.7×
2008	8.3×	8.3×	20.9×
2007	19.8×	17.6×	28.9×

Against its peers

Companies in Regulated Electric nearest CMS Energy's size, closest first, today.

Company	Forward PE
CMSCMS Energy	16.8×
EIXEdison International	9.2×
EVRGEvergy	n/m
ESEversource Energy	14.3×
PPLPPL	16.9×
LNTAlliant Energy	n/m
FEFirstEnergy	16.1×
CNPCenterPoint Energy	20.5×
DTEDTE Energy	16.2×
AEEAmeren	19.6×
PCGPG&E	7.5×
Peer median	16.1×

Where CMS Energy ranks

What the forward PE tells you

Price divided by what analysts expect the company to earn over the next twelve months. It answers "what am I paying for next year" instead of last year.

Estimates are opinions. When forward PE is far below trailing PE, analysts expect a big jump in earnings. If that jump slips, the stock was not as cheap as it looked.

More on CMS Energy

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.