CMS Energy price to book ratio CMS

Market value divided by the book value of the company's net assets, since 2013.

Today, Oct 23, 2026: 2.2×
8-year median: 2.8×
Against its 8-year history: 4th; percentile: 0 is its lowest day, 100 its highest
8-year range: 2.0× to 3.9×
Peer median: 2.0×

CMS Energy's price to book ratio is 2.2× as of Oct 23, 2026.

That is below its 8-year median of 2.8×, lower than on 96% of days in the last 8 years.

Over that time it ranged from 2.0× in Sep 2026 to 3.9× in Jan 2020.

The median for 10 electric utilities of a similar size is 2.0×.

Price to book ratio over time

median 2.8×

The dashed line is the 8-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	2.2×	2.0×	2.7×
2025	2.4×	2.4×	2.7×
2024	2.5×	2.2×	2.7×
2023	2.4×	2.2×	2.7×
2022	2.7×	2.3×	3.2×
2021	3.1×	2.8×	3.4×
2020	3.3×	2.8×	3.9×
2019	3.6×	2.9×	3.8×
2018	2.9×	2.9×	3.2×
2017	n/m a value too high to mean anything
2016	n/m a value too high to mean anything
2015	2.4×	2.2×	2.7×
2014	2.6×	2.1×	2.6×
2013	2.1×	2.1×	2.4×

Against its peers

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

Company	Price to book ratio
CMSCMS Energy	2.2×
EIXEdison International	1.3×
EVRGEvergy	1.9×
ESEversource Energy	1.6×
PPLPPL	1.7×
LNTAlliant Energy	2.4×
FEFirstEnergy	2.1×
CNPCenterPoint Energy	2.3×
DTEDTE Energy	2.3×
AEEAmeren	2.2×
PCGPG&E	1.0×
Peer median	2.0×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

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.