Mulya.ai
Ticker
CMS
Scenario
Key Inputs
Revenue est.?Analysttaper yr3
OP margin est.?hist_ind
Reinvestment est.?projected
R&D capitalizedNo
Leases factoredNo
Key Assumptions
WACC ?6.9%
ERP ?4.5%
Risk-free rate ?4.1%
Beta (blended) ?0.432
Beta (levered) ?0.702
Terminal OM% ?21.8%
Segment conc. ?57% dominant
Terminal growth ?4.1%
Bond rating ?BB+ · 2.25%
ROIC option ?Opt 1 · 8.6%
Prob of failure ?0.0%
Pipeline validated · 2026-05-17

CMS · CMS Energy Corporation

$78.582026-05-17
Sector: Utilities; Industry: Regulated Electric; Sub-Industry: Multi-Utilities

Intrinsic Value Range Comparison · Mulya.ai

Bull
$2
-96.9% vs market
Base · active
$0
-140.9% vs market
Bear
$0
-137.7% vs market
Mulya.ai vs Analyst IV Comparison?
Bear $-30
Base $-32
Bull $2
Market $79
Median $80
Market Price $79
Mulya.ai Base $-32
Analysts Median $80
Mulya.ai IV range ($-30 · $2)
Analysts Range ($77 · $82)
Fundamentals · historical + forward · base
italics = DCF projection
PeriodRevenueRev Gr ?Ops M% ?Tax Rate ?NOPAT ?
Reinvest ?
FCFF ?WACC% ?PV FCFF ?ROIC ?Inv. Cap ?EPS ?P/E
2021.Q4$7.3B15.6%11.5%$1.0B−$1.0B$6MM4.6%5.4%$18.6B$4.50
2022.Q4$8.6B17.3%14.2%10.3%$1.1B−$2.4B−$1.3B6.4%5.5%$21.1B$2.78
2023.Q4$7.5B-13.2%16.6%15.4%$1.0B−$1.6B−$572MM6.3%4.7%$22.9B$2.95
2024.Q4$7.5B0.7%19.8%15.7%$1.3B−$1.4B−$133MM6.8%5.3%$24.6B$3.34
2025.Q4$8.5B13.6%20.2%19.7%$1.4B−$2.7B−$1.3B6.4%5.3%$27.3B$3.5613.7
italics below = DCF projection · 10yr Rev CAGR: 4.2%
2026.Q4$8.7B+1.4%20.2%19.7%$1.4B−$2.3B−$903MM7.0%−$844MM4.9%$29.6B$4.6816.8
2027.Q4$9.1B+4.6%20.5%19.8%$1.5B−$2.9B−$1.4B7.2%−$1.2B4.8%$32.5B$4.9615.8
2028.Q4$9.5B+4.5%20.8%19.8%$1.6B−$1.8B−$237MM7.3%−$193MM4.7%$34.3B$5.2614.9
2029.Q4$10.0B+5.6%21.1%19.8%$1.7B−$3.6B−$1.9B7.5%−$1.5B4.7%$37.9B$5.6413.9
2030.Q4$10.4B+4.4%21.8%19.9%$1.8B−$2.6B−$792MM7.7%−$556MM4.6%$40.5B$6.0613.0
Term. Yr+$13.4B4.1%21.8%20.0%$2.3B−$1.1B$1.2B8.6%$12.9B8.6%
Active scenario IV: $0 (-140.9% vs market)