CMS Energy vs Pinnacle West Capital
CMS Energy is the larger business, with $8.54bn of revenue in fiscal 2025 against $5.34bn for Pinnacle West Capital (1.6 times as much). CMS Energy grew faster (13.6% against 4.2%). CMS Energy kept more of each dollar of sales as profit: a net margin of 12.5% against 11.5%. Pinnacle West Capital carries less debt relative to equity (149.9% against 207.1%).
| Latest fiscal year | CMS EnergyCMS, 2025 | Pinnacle West CapitalPNW, 2025 |
|---|---|---|
| Revenue | $8.54bn | $5.34bn |
| Revenue growth | 13.6% | 4.2% |
| Net income | $1.07bn | $617m |
| Operating margin | 20.2% | 20.0% |
| Net margin | 12.5% | 11.5% |
| Return on equity | 12.3% | 8.9% |
| Free cash flow | $2.23bn | −$820m |
| Cash | $509m | $6.6m |
| Total debt | $18.94bn | $10.56bn |
| Debt to equity | 207.1% | 149.9% |
| Dividend per share | — | $3.61 |
| Dividend yield | — | 3.3% |
| Share buybacks | — | — |
| Employees | — | — |
| Market value | $22.19bn | $13.19bn |
| Price vs our value range | Within our value range | — |
| Moat score | 38 (Weak) | 40 (Weak) |
| Insider trades, 12 months | 2 buys, 6 sales | 0 buys, 4 sales |