CMS Energy (CMS) FY2017 results: revenue $6.6 billion, up 2.9% on the year
CMS Energy Corp. (CMS) reported revenue of $6.6 billion for fiscal 2017, the year ended 31 December 2017, up 2.9% on the year before. Net income was $460 million, down 16.5%, and diluted earnings per share $1.64. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2018.
Revenue
$6.6 billion
+2.9% on the year
FY2010FY2017
Operating margin
20.3%
19.6% a year earlier
FY2010FY2017
Net income
$460 million
-16.5% on the year
FY2010FY2017
Diluted EPS
$1.64
-17.2% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
6,583
6,399
6,456
+2.9%
Operating income
1,338
1,256
1,178
+6.5%
Operating margin
20.3%
19.6%
18.2%
Interest expense
438
435
396
+0.7%
Pre-tax income
886
826
796
+7.3%
Income tax
424
273
271
+55.3%
Effective tax rate
47.9%
33.1%
34.0%
Net income
460
551
523
-16.5%
Net margin
7.0%
8.6%
8.1%
Diluted EPS
$1.64
$1.98
$1.89
-17.2%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,705
1,629
1,640
+4.7%
Capital expenditure
1,665
1,672
1,564
-0.4%
Free cash flow
40.0
-43.0
76.0
Free cash flow margin
0.6%
-0.7%
1.2%
Cash from investing
-1,868
-1,915
-2,064
Cash from financing
110
255
463
-56.9%
Depreciation and amortisation
881
811
750
+8.6%
Dividends paid
377
347
322
+8.6%
Dividend per share
$1.33
$1.24
$1.16
+7.3%
Diluted shares, weighted
281m
279m
276m
+0.7%
Shares outstanding at period end
282m
279m
277m
+0.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
4,441
4,253
3,938
+4.4%
Non-controlling interest
37.0
37.0
37.0
0.0%
Debt
10,396
9,924
9,355
+4.8%
Other liabilities
8,176
7,408
6,969
+10.4%
Total liabilities and equity
23,050
21,622
20,299
+6.6%
Fixed assets
16,761
15,715
14,705
+6.7%
Securities held for sale or to maturity
16.0
13.0
11.0
+23.1%
Cash and equivalents
182
235
266
-22.6%
Receivables
1,032
821
774
+25.7%
Other assets
5,059
4,838
4,543
+4.6%
Total assets
23,050
21,622
20,299
+6.6%
10-K for the year ended 31 December 2017, filed 14 February 2018: the filing.