CMS FY 2015 Earnings Report — CMS Energy Corporation Revenue & Financial Results | Market Cap Arena

CMS Energy CorporationCMS

FY 2015 Earnings

Reported February 11, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$6.5B	—	$7.2B	—	-10.1%
Op. Income	$1.2B	—	$1.2B	—	2.3%
Gross Margin	33.9%	—	29.1%	—	4.8pp
Net Margin	8.1%	—	6.6%	—	1.5pp
EPS (Diluted)	$1.89	—	$1.74	—	8.6%
Free Cash Flow	$76M	—	-$130M	—	158.5%

Revenue Flow

Item	Amount
REVENUE	$6.5B
Cost of Revenue	$4.3B
GROSS PROFIT	$2.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.0B
Operating Expenses	$1.0B
Cost & Expenses	$5.3B
OPERATING INCOME	$1.2B
Interest Income	$12M
Interest Expense	$396M
Other Income/Expenses	-$382M
INCOME BEFORE TAX	$796M
Income Tax Expense	$271M
Net Income from Continuing Ops	$525M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$523M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$523M
D&A	$750M
EBIT	$1.2B
EBITDA	$1.9B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$6.5B
Cost of Revenue	$4.3B
GROSS PROFIT	$2.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.0B
Operating Expenses	$1.0B
Cost & Expenses	$5.3B
OPERATING INCOME	$1.2B
Interest Income	$12M
Interest Expense	$396M
Other Income/Expenses	-$382M
INCOME BEFORE TAX	$796M
Income Tax Expense	$271M
Net Income from Continuing Ops	$525M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$523M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$523M
D&A	$750M
EBIT	$1.2B
EBITDA	$1.9B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$523M
Depreciation & Amortization	$750M
Stock-Based Compensation	$0
Deferred Income Tax	$247M
Other Non-Cash Items	-$102M
Change in Working Capital	$222M
OPERATING CASH FLOW	$1.6B
Capital Expenditure	-$1.6B
Acquisitions (Net)	-$154M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$346M
NET CASH FROM INVESTING	-$2.1B
Net Debt Issuance	$742M
Common Stock Repurchased	$0
Common Dividends Paid	-$322M
Other Financing Activities	$0
NET CASH FROM FINANCING	$463M
FREE CASH FLOW	$76M
Net Change in Cash	$41M

Balance Sheet

Item	Amount
Cash & Equivalents	$266M
Short-Term Investments	$0
Net Receivables	$913M
Inventory	$778M
Other Current Assets	$51M
TOTAL CURRENT ASSETS	$2.3B
PP&E (Net)	$14.7B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$64M
Tax Assets	$0
Other Non-Current Assets	$3.2B
TOTAL NON-CURRENT ASSETS	$18.0B
TOTAL ASSETS	$20.3B
Account Payables	$642M
Short-Term Debt	$933M
Deferred Revenue	$0
Other Current Liabilities	$250M
TOTAL CURRENT LIABILITIES	$2.3B
Long-Term Debt	$8.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$5.5B
TOTAL NON-CURRENT LIABILITIES	$14.0B
TOTAL LIABILITIES	$16.4B
Common Stock	$3M
Additional Paid-In Capital	$4.8B
Retained Earnings	-$855M
Treasury Stock	$0
Accum. Other Comp. Income	-$47M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.9B
Minority Interest	$37M
TOTAL EQUITY	$4.0B
TOTAL LIABILITIES & EQUITY	$20.3B
Total Debt	$9.5B
Net Debt	$9.2B