CMS Energy (CMS) FY2015 results: revenue $6.5 billion, down 10.1% on the year
CMS Energy Corp. (CMS) reported revenue of $6.5 billion for fiscal 2015, the year ended 31 December 2015, down 10.1% on the year before. Net income was $523 million, up 9.6%, and diluted earnings per share $1.89. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2016.
Revenue
$6.5 billion
-10.1% on the year
FY2008FY2015
Operating margin
18.2%
16.0% a year earlier
FY2008FY2015
Net income
$523 million
+9.6% on the year
FY2008FY2015
Diluted EPS
$1.89
+8.6% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
6,456
7,179
6,566
-10.1%
Operating income
1,178
1,152
1,142
+2.3%
Operating margin
18.2%
16.0%
17.4%
Interest expense
396
407
398
-2.7%
Pre-tax income
796
729
756
+9.2%
Income tax
271
250
302
+8.4%
Effective tax rate
34.0%
34.3%
39.9%
Net income
523
477
452
+9.6%
Net margin
8.1%
6.6%
6.9%
Diluted EPS
$1.89
$1.74
$1.66
+8.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,640
n/a
1,421
Capital expenditure
1,564
1,577
1,325
-0.8%
Free cash flow
76.0
n/a
96.0
Free cash flow margin
1.2%
n/a
1.5%
Cash from investing
-2,064
n/a
-1,532
Cash from financing
463
n/a
190
Depreciation and amortisation
750
685
628
+9.5%
Dividends paid
322
295
273
+9.2%
Dividend per share
$1.16
$1.08
$1.02
+7.4%
Diluted shares, weighted
276m
275m
272m
+0.7%
Shares outstanding at period end
277m
275m
266m
+0.7%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
3,938
3,670
3,454
+7.3%
Non-controlling interest
37.0
37.0
37.0
0.0%
Debt
9,355
8,616
7,833
+8.6%
Other liabilities
6,969
6,820
5,966
+2.2%
Total liabilities and equity
20,299
19,143
17,290
+6.0%
Fixed assets
14,705
13,412
12,246
+9.6%
Securities held for sale or to maturity
11.0
11.0
10.0
0.0%
Cash and equivalents
266
207
172
+28.5%
Receivables
774
881
914
-12.1%
Other assets
4,543
4,632
3,948
-1.9%
Total assets
20,299
19,143
17,290
+6.0%
10-K for the year ended 31 December 2015, filed 11 February 2016: the filing.