Filing Flows › Comparisons › WEC vs CMS
WEC Energy Group vs CMS Energy: WEC and CMS compared
WEC Energy Group is the larger company: $2.3B of revenue in its latest quarter (Q3 2026) against $2.2B for CMS Energy (Q3 2026). WEC Energy Group is growing faster (+9% against +8% a year earlier). WEC Energy Group is more profitable, with an operating margin of 24.6% against 2.2%.
Where the money goes: WEC and CMS
WEC Energy Group (WEC) · Q3 2026
WEC Energy Group, Q3 2026: revenue $2.3B (+9% year over year), operating margin 24.6%, net earnings $390M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
CMS Energy (CMS) · Q3 2026
CMS Energy, Q3 2026: revenue $2.2B (+8% year over year), operating margin 2.2%, net loss $91.0M, operating cash flow $471M. The chart follows the revenue to costs, profit and cash.
| WEC Energy Group (WEC) | CMS Energy (CMS) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $2.3B | $2.2B |
| Revenue growth, Y/Y | +9% | +8% |
| Operating margin | 24.6% | 2.2% |
| Net earnings | $390M | −$91.0M |
| Net margin | 17.0% | -4.2% |
| Operating cash flow | $1.2B | $471M |
| Market value | $38.3B | $21.7B |
| P/E | 21.1× | 41.5× |
| Analysts’ mean target | $118.50 | $73.85 |
Where the revenue comes from
CMS Energy
- Utility Revenue: $2.0B (93%)
- Other: $138M (6%)
- Other revenues: $13.0M (1%)
Questions
Which is bigger, WEC Energy Group or CMS Energy?
WEC Energy Group is the larger company: $2.3B of revenue in its latest quarter (Q3 2026) against $2.2B for CMS Energy (Q3 2026).
Is WEC Energy Group or CMS Energy growing faster?
WEC Energy Group is growing faster (+9% against +8% a year earlier).
Which is more profitable, WEC Energy Group or CMS Energy?
WEC Energy Group is more profitable, with an operating margin of 24.6% against 2.2%.
More: WEC Energy Group earnings · how WEC Energy Group makes money · CMS Energy earnings · how CMS Energy makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 30, 2026; 10-Q filed Oct 27, 2026). Fiscal quarters can end on different dates. Not investment advice.