CMS ENERGY CORPORATION
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $120.0M | $340.0M | $289.0M | $277.0M | $201.0M | $304.0M | $265.0M | $253.0M |
| Depreciation & Amortization | $308.0M | $412.0M | $342.0M | $288.0M | $288.0M | $388.0M | $326.0M | $273.0M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | — | — | — | — | — | — | — | — |
| Net Cash from Operating Activities | $622.0M | $705.0M | $478.0M | $343.0M | $414.0M | $1.00B | $403.0M | $304.0M |
| Investing Activities | ||||||||
| Capital Expenditures | $967.0M | $1.04B | — | $978.0M | $884.0M | $888.0M | — | $806.0M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-1.02B | $-1.07B | $-1.11B | $-1.05B | $-962.0M | $-918.0M | $-953.0M | $-855.0M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $480.0M | $16.0M | $817.0M | $210.0M | $947.0M | $266.0M | $261.0M | $229.0M |
| Net Change in Cash | $82.0M | $-352.0M | $183.0M | $-493.0M | $399.0M | $348.0M | $-289.0M | $-322.0M |
| Free Cash Flow | $-345.0M | $-334.0M | — | $-635.0M | $-470.0M | $112.0M | — | $-502.0M |