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CMS vs. PNW: CMS Energy vs. Pinnacle West Capital Stock Comparison

How do CMS Energy (CMS) and Pinnacle West Capital (PNW) 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 Pinnacle West Capital (PNW) both fall under the Utilities industry group, but CMS is classified in Multi-Utilities while PNW is classified in Electric Utilities.

Company profile comparison for CMS Energy (CMS) and Pinnacle West Capital (PNW)
Profile ItemCMSPNW
NameCMS Energy Corporation Common StockPinnacle West Capital Corporation
Country/RegionUnited StatesUnited States
GICS SectorUtilitiesUtilities
GICS Industry GroupUtilitiesUtilities
GICS IndustryMulti-UtilitiesElectric Utilities
GICS Sub-IndustryMulti-UtilitiesElectric Utilities
Market Capitalization21.70 billion USD12.63 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateFebruary 21, 1973February 21, 1973
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

CMS
PNW
GSPC
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CMS Energy (CMS) vs. Pinnacle West Capital (PNW), 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 Pinnacle West Capital (PNW). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for CMS Energy (CMS) and Pinnacle West Capital (PNW). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for CMS Energy (CMS) and Pinnacle West Capital (PNW)
MetricCMSPNW
Total Return (1Y)-1.93%24.23%
Total Return (3Y, Annualized)11.79%18.78%
Total Return (5Y, Annualized)6.25%15.87%

Risk Profile

Drawdown History

CMS
PNW
GSPC
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CMS Energy (CMS) vs. Pinnacle West Capital (PNW), 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 Pinnacle West Capital (PNW). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for CMS Energy (CMS) and Pinnacle West Capital (PNW)
MetricCMSPNW
Volatility (1Y, Annualized)17.58%17.21%
Beta (5Y)0.310.48
Max Drawdown (5Y)-28.04%-24.02%
Avg. Volume (3M)3.84M1.28M

Risk-Adjusted Performance

Risk-Return Positioning

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CMS and PNW 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 Pinnacle West Capital (PNW)
MetricCMSPNW
Sharpe Ratio (1Y)-0.351.16
Sortino Ratio (1Y)-0.491.77

Profitability

ROE (TTM)

Pinnacle West Capital (PNW) at 9.09% 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%

PNW

Utilities industry group

9.09%

Max
17.99%
Q3
12.01%
Median
9.44%
PNW
9.09%
Q1
7.56%
Min
2.17%
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CMS Energy (CMS) vs. Pinnacle West Capital (PNW): A comparison of their ROE against the Utilities industry group benchmark.

Net Margin (TTM)

Both CMS Energy (CMS) at 9.72% and Pinnacle West Capital (PNW) at 11.59% 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%

PNW

Utilities industry group

11.59%

Max
28.78%
Q3
17.30%
Median
12.73%
PNW
11.59%
Q1
9.18%
Min
-0.20%
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CMS Energy (CMS) vs. Pinnacle West Capital (PNW): A comparison of their net margin against the Utilities industry group benchmark.

Operating Margin (TTM)

Pinnacle West Capital (PNW) at 31.70% operates in the top operating margin quartile, ahead of CMS Energy (CMS) at 28.45%, which runs around its industry’s norm.

CMS

Utilities industry group

28.45%

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

PNW

Utilities industry group

31.70%

Max
53.83%
PNW
31.70%
Q3
31.12%
Median
23.62%
Q1
15.45%
Min
-4.90%
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CMS Energy (CMS) vs. Pinnacle West Capital (PNW): A comparison of their operating margin against the Utilities industry group benchmark.

Profitability Metrics

Profitability metrics for CMS Energy (CMS) and Pinnacle West Capital (PNW)
MetricCMSPNW
ROE (TTM)5.31%9.09%
ROA (TTM)3.07%2.36%
Net Margin (TTM)9.72%11.59%
Operating Margin (TTM)28.45%31.70%
Gross Margin (TTM)40.76%43.84%

Growth

Revenue Growth

CMS Energy (CMS) at 13.63% sits in the top revenue growth quartile, while Pinnacle West Capital (PNW) at 4.20% is closer to the peer norm — faster top-line expansion for CMS.

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CMS Energy (CMS) vs. Pinnacle West Capital (PNW): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both CMS Energy (CMS) at 4.19% and Pinnacle West Capital (PNW) at -3.63% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

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CMS Energy (CMS) vs. Pinnacle West Capital (PNW): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for CMS Energy (CMS) and Pinnacle West Capital (PNW)
MetricCMSPNW
Revenue Growth (YoY)13.63%4.20%
Revenue Growth (3Y CAGR)-0.22%7.28%
EPS Growth (YoY)4.19%-3.63%
EPS Growth (3Y CAGR)6.84%5.83%

Financial Strength

Current Ratio (MRQ)

Both CMS Energy (CMS) at 0.95 and Pinnacle West Capital (PNW) at 0.71 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

CMS

Utilities industry group

0.95

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

PNW

Utilities industry group

0.71

Max
1.90
Q3
1.17
Median
0.88
PNW
0.71
Q1
0.66
Min
0.29
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CMS Energy (CMS) vs. Pinnacle West Capital (PNW): A comparison of their current ratio against the Utilities industry group benchmark.

Debt / Equity (MRQ)

Both CMS Energy (CMS) at 1.96 and Pinnacle West Capital (PNW) at 2.26 lean more heavily on debt funding than most peers, landing in the higher-leverage quartile of their industries.

CMS

Utilities industry group

1.96

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

PNW

Utilities industry group

2.26

Max
2.63
PNW
2.26
Q3
1.77
Median
1.35
Q1
0.84
Min
0.00
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CMS Energy (CMS) vs. Pinnacle West Capital (PNW): 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 Pinnacle West Capital (PNW)
MetricCMSPNW
Current Ratio (MRQ)0.950.71
Debt / Equity (MRQ)1.962.26
Net Debt / EBITDA6.337.67

Dividends

Dividend Yield (TTM)

Both CMS Energy (CMS) at 3.21% and Pinnacle West Capital (PNW) at 3.51% 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%

PNW

Utilities industry group

3.51%

Max
6.66%
Q3
3.58%
PNW
3.51%
Median
2.85%
Q1
0.66%
Min
0.00%
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CMS Energy (CMS) vs. Pinnacle West Capital (PNW): A comparison of their dividend yield against the Utilities industry group benchmark.

Dividend Payout Ratio (TTM)

Pinnacle West Capital (PNW) at 68.42% 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%

PNW

Utilities industry group

68.42%

Max
113.04%
Q3
68.72%
PNW
68.42%
Median
56.38%
Q1
32.38%
Min
0.00%
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CMS Energy (CMS) vs. Pinnacle West Capital (PNW): A comparison of their payout ratio against the Utilities industry group benchmark.

Dividend Metrics

Dividend metrics for CMS Energy (CMS) and Pinnacle West Capital (PNW)
MetricCMSPNW
Dividend Yield (TTM)3.21%3.51%
Dividend Payout Ratio (TTM)80.45%68.42%

Valuation

P/E Ratio (TTM)

Pinnacle West Capital (PNW) at 19.59 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

PNW

Utilities industry group

19.59

Max
31.22
Q3
23.30
Median
19.64
PNW
19.59
Q1
15.17
Min
3.34
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CMS Energy (CMS) vs. Pinnacle West Capital (PNW): 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 Pinnacle West Capital (PNW) at 2.21 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

PNW

Utilities industry group

2.21

Max
6.35
Q3
3.63
Median
2.63
PNW
2.21
Q1
1.52
Min
0.00
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CMS Energy (CMS) vs. Pinnacle West Capital (PNW): A comparison of their P/S ratio against the Utilities industry group benchmark.

P/B Ratio (MRQ)

Pinnacle West Capital (PNW) at 1.69 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

PNW

Utilities industry group

1.69

Max
3.12
Q3
2.21
Median
1.83
PNW
1.69
Q1
1.46
Min
0.34
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CMS Energy (CMS) vs. Pinnacle West Capital (PNW): A comparison of their P/B ratio against the Utilities industry group benchmark.

Valuation Metrics

Valuation metrics for CMS Energy (CMS) and Pinnacle West Capital (PNW)
MetricCMSPNW
P/E Ratio (TTM)24.7119.59
P/S Ratio (TTM)2.422.21
P/B Ratio (MRQ)2.281.69
Free Cash Flow Yield (TTM)-9.54%-7.90%