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CMS vs. NI: CMS Energy vs. NiSource Stock Comparison

How do CMS Energy (CMS) and NiSource (NI) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

CMS Energy (CMS) and NiSource (NI) are both classified in the Multi-Utilities sub-industry within the broader Multi-Utilities industry, placing them in the closest GICS peer bucket.

Company profile comparison for CMS Energy (CMS) and NiSource (NI)
Profile ItemCMSNI
NameCMS Energy Corporation Common StockNiSource Inc.
Country/RegionUnited StatesUnited States
GICS SectorUtilitiesUtilities
GICS Industry GroupUtilitiesUtilities
GICS IndustryMulti-UtilitiesMulti-Utilities
GICS Sub-IndustryMulti-UtilitiesMulti-Utilities
Market Capitalization21.70 billion USD21.18 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateFebruary 21, 1973February 21, 1973
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

CMS
NI
GSPC
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CMS Energy (CMS) vs. NiSource (NI), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for CMS Energy (CMS) and NiSource (NI). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for CMS Energy (CMS) and NiSource (NI). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for CMS Energy (CMS) and NiSource (NI)
MetricCMSNI
Total Return (1Y)-1.93%6.11%
Total Return (3Y, Annualized)11.79%25.66%
Total Return (5Y, Annualized)6.25%16.11%

Risk Profile

Drawdown History

CMS
NI
GSPC
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CMS Energy (CMS) vs. NiSource (NI), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for CMS Energy (CMS) and NiSource (NI). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for CMS Energy (CMS) and NiSource (NI)
MetricCMSNI
Volatility (1Y, Annualized)17.58%18.23%
Beta (5Y)0.310.53
Max Drawdown (5Y)-28.04%-24.76%
Avg. Volume (3M)3.84M5.64M

Risk-Adjusted Performance

Risk-Return Positioning

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CMS and NI are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for CMS Energy (CMS) and NiSource (NI)
MetricCMSNI
Sharpe Ratio (1Y)-0.350.10
Sortino Ratio (1Y)-0.490.14

Profitability

ROE (TTM)

NiSource (NI) at 8.71% is around its peer norm for ROE, while CMS Energy (CMS) at 5.31% drops into the bottom quartile, signaling weaker returns on shareholders’ equity.

CMS

Utilities industry group

5.31%

Max
17.99%
Q3
12.01%
Median
9.44%
Q1
7.56%
CMS
5.31%
Min
2.17%

NI

Utilities industry group

8.71%

Max
17.99%
Q3
12.01%
Median
9.44%
NI
8.71%
Q1
7.56%
Min
2.17%
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CMS Energy (CMS) vs. NiSource (NI): A comparison of their ROE against the Utilities industry group benchmark.

Net Margin (TTM)

Both CMS Energy (CMS) at 9.72% and NiSource (NI) at 13.51% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

CMS

Utilities industry group

9.72%

Max
28.78%
Q3
17.30%
Median
12.73%
CMS
9.72%
Q1
9.18%
Min
-0.20%

NI

Utilities industry group

13.51%

Max
28.78%
Q3
17.30%
NI
13.51%
Median
12.73%
Q1
9.18%
Min
-0.20%
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CMS Energy (CMS) vs. NiSource (NI): A comparison of their net margin against the Utilities industry group benchmark.

Operating Margin (TTM)

Both CMS Energy (CMS) at 28.45% and NiSource (NI) at 25.20% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

CMS

Utilities industry group

28.45%

Max
53.83%
Q3
31.12%
CMS
28.45%
Median
23.62%
Q1
15.45%
Min
-4.90%

NI

Utilities industry group

25.20%

Max
53.83%
Q3
31.12%
NI
25.20%
Median
23.62%
Q1
15.45%
Min
-4.90%
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CMS Energy (CMS) vs. NiSource (NI): A comparison of their operating margin against the Utilities industry group benchmark.

Profitability Metrics

Profitability metrics for CMS Energy (CMS) and NiSource (NI)
MetricCMSNI
ROE (TTM)5.31%8.71%
ROA (TTM)3.07%3.25%
Net Margin (TTM)9.72%13.51%
Operating Margin (TTM)28.45%25.20%
Gross Margin (TTM)40.76%50.92%

Growth

Revenue Growth

Both CMS Energy (CMS) at 13.63% and NiSource (NI) at 21.76% sit in the top peer quartile for revenue growth, so each is growing its top line faster than typical industry peers.

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CMS Energy (CMS) vs. NiSource (NI): A comparison of their Revenue Growth across different time periods.

EPS Growth

NiSource (NI) at 20.37% sits in the top EPS growth quartile, while CMS Energy (CMS) at 4.19% is closer to the peer norm — faster per-share earnings growth for NI.

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CMS Energy (CMS) vs. NiSource (NI): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for CMS Energy (CMS) and NiSource (NI)
MetricCMSNI
Revenue Growth (YoY)13.63%21.76%
Revenue Growth (3Y CAGR)-0.22%4.32%
EPS Growth (YoY)4.19%20.37%
EPS Growth (3Y CAGR)6.84%4.68%

Financial Strength

Current Ratio (MRQ)

CMS Energy (CMS) at 0.95 keeps current ratio within its industry’s typical mid-range, while NiSource (NI) at 0.50 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for NI.

CMS

Utilities industry group

0.95

Max
1.90
Q3
1.17
CMS
0.95
Median
0.88
Q1
0.66
Min
0.29

NI

Utilities industry group

0.50

Max
1.90
Q3
1.17
Median
0.88
Q1
0.66
NI
0.50
Min
0.29
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CMS Energy (CMS) vs. NiSource (NI): A comparison of their current ratio against the Utilities industry group benchmark.

Debt / Equity (MRQ)

NiSource (NI) at 1.53 carries an industry-typical debt-to-equity mix, while CMS Energy (CMS) at 1.96 uses more debt funding than most peers.

CMS

Utilities industry group

1.96

Max
2.63
CMS
1.96
Q3
1.77
Median
1.35
Q1
0.84
Min
0.00

NI

Utilities industry group

1.53

Max
2.63
Q3
1.77
NI
1.53
Median
1.35
Q1
0.84
Min
0.00
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CMS Energy (CMS) vs. NiSource (NI): A comparison of their debt-to-equity ratio against the Utilities industry group benchmark.

Financial Strength Metrics

Financial strength metrics for CMS Energy (CMS) and NiSource (NI)
MetricCMSNI
Current Ratio (MRQ)0.950.50
Debt / Equity (MRQ)1.961.53
Net Debt / EBITDA6.335.87

Dividends

Dividend Yield (TTM)

Both CMS Energy (CMS) at 3.21% and NiSource (NI) at 0.68% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

CMS

Utilities industry group

3.21%

Max
6.66%
Q3
3.58%
CMS
3.21%
Median
2.85%
Q1
0.66%
Min
0.00%

NI

Utilities industry group

0.68%

Max
6.66%
Q3
3.58%
Median
2.85%
NI
0.68%
Q1
0.66%
Min
0.00%
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CMS Energy (CMS) vs. NiSource (NI): A comparison of their dividend yield against the Utilities industry group benchmark.

Dividend Payout Ratio (TTM)

NiSource (NI) at 60.51% pays out a band-typical share of earnings, while CMS Energy (CMS) at 80.45% distributes more than its industry norm — less retained, thinner cover.

CMS

Utilities industry group

80.45%

Max
113.04%
CMS
80.45%
Q3
68.72%
Median
56.38%
Q1
32.38%
Min
0.00%

NI

Utilities industry group

60.51%

Max
113.04%
Q3
68.72%
NI
60.51%
Median
56.38%
Q1
32.38%
Min
0.00%
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CMS Energy (CMS) vs. NiSource (NI): A comparison of their payout ratio against the Utilities industry group benchmark.

Dividend Metrics

Dividend metrics for CMS Energy (CMS) and NiSource (NI)
MetricCMSNI
Dividend Yield (TTM)3.21%0.68%
Dividend Payout Ratio (TTM)80.45%60.51%

Valuation

P/E Ratio (TTM)

NiSource (NI) at 22.64 is near its industry’s usual P/E ratio, while CMS Energy (CMS) at 24.71 sits in the richer quartile — CMS needs stronger growth or earnings quality to justify the premium.

CMS

Utilities industry group

24.71

Max
31.22
CMS
24.71
Q3
23.30
Median
19.64
Q1
15.17
Min
3.34

NI

Utilities industry group

22.64

Max
31.22
Q3
23.30
NI
22.64
Median
19.64
Q1
15.17
Min
3.34
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CMS Energy (CMS) vs. NiSource (NI): A comparison of their P/E ratio against the Utilities industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both CMS Energy (CMS) at 2.42 and NiSource (NI) at 3.04 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

CMS

Utilities industry group

2.42

Max
6.35
Q3
3.63
Median
2.63
CMS
2.42
Q1
1.52
Min
0.00

NI

Utilities industry group

3.04

Max
6.35
Q3
3.63
NI
3.04
Median
2.63
Q1
1.52
Min
0.00
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CMS Energy (CMS) vs. NiSource (NI): A comparison of their P/S ratio against the Utilities industry group benchmark.

P/B Ratio (MRQ)

NiSource (NI) at 2.21 is valued about in line with its industry on P/B ratio, while CMS Energy (CMS) at 2.28 carries an above-peer premium to book — CMS is pricier on assets.

CMS

Utilities industry group

2.28

Max
3.12
CMS
2.28
Q3
2.21
Median
1.83
Q1
1.46
Min
0.34

NI

Utilities industry group

2.21

Max
3.12
Q3
2.21
NI
2.21
Median
1.83
Q1
1.46
Min
0.34
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CMS Energy (CMS) vs. NiSource (NI): A comparison of their P/B ratio against the Utilities industry group benchmark.

Valuation Metrics

Valuation metrics for CMS Energy (CMS) and NiSource (NI)
MetricCMSNI
P/E Ratio (TTM)24.7122.64
P/S Ratio (TTM)2.423.04
P/B Ratio (MRQ)2.282.21
Free Cash Flow Yield (TTM)-9.54%-10.51%