CMS Energy (CMS) FY2023 results: revenue $7.5 billion, down 13.2% on the year
CMS Energy Corp. (CMS) reported revenue of $7.5 billion for fiscal 2023, the year ended 31 December 2023, down 13.2% on the year before. Net income was $887 million, up 6.0%, and diluted earnings per share $3.01. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2024.
Revenue
$7.5 billion
-13.2% on the year
FY2016FY2023
Operating margin
16.6%
14.2% a year earlier
FY2016FY2023
Net income
$887 million
+6.0% on the year
FY2016FY2023
Diluted EPS
$3.01
+5.6% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
2,309
855
1,819
+170.1%
Capital expenditure
n/a
2,374
2,076
Free cash flow
n/a
-1,519
-257
Free cash flow margin
n/a
-17.7%
-3.5%
Cash from investing
-3,386
-2,476
-1,233
Cash from financing
1,143
1,327
-295
-13.9%
Depreciation and amortisation
1,180
1,126
1,114
+4.8%
Dividends paid
n/a
546
509
Dividend per share
$1.95
$1.84
$1.74
+6.0%
Diluted shares, weighted
292m
290m
290m
+0.6%
Shares outstanding at period end
294m
291m
290m
+1.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
7,544
7,015
6,631
+7.5%
Non-controlling interest
581
580
557
+0.2%
Debt
15,581
14,212
12,419
+9.6%
Operating lease liabilities
22.0
27.0
25.0
-18.5%
Finance lease liabilities
62.0
68.0
46.0
-8.8%
Other liabilities
9,727
9,451
9,075
+2.9%
Total liabilities and equity
33,517
31,353
28,753
+6.9%
Fixed assets
25,072
22,713
22,352
+10.4%
Cash and equivalents
227
164
452
+38.4%
Receivables
n/a
1,564
931
Other assets
8,218
6,912
5,018
+18.9%
Total assets
33,517
31,353
28,753
+6.9%
10-K for the year ended 31 December 2023, filed 8 February 2024: the filing.