CMS Energy (CMS) vs Xcel Energy (XEL)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 7, 2026.
Summary
Xcel Energy (XEL) has outperformed CMS Energy (CMS) over the past year, losing 11.5% versus a loss of 11.8%. Over five years, XEL leads with a +9.8% price change compared with +7.9% for CMS. Xcel Energy is the larger company by market cap ($45.24 billion vs $20.40 billion), about 2.2 times the size, while CMS Energy is growing revenue faster (+13.6% vs +9.1%).
On valuation, CMS Energy trades at a lower forward P/E (15.7x vs 16.0x for Xcel Energy). CMS Energy offers the higher dividend yield (3.42% vs 3.21%). Xcel Energy converts more of its revenue into profit, with a net margin of 13.8% versus 12.5%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | CMS | XEL |
|---|---|---|
| Share price | $65.07 | $72.42 |
| Market cap | $20.40B | $45.24B |
| 1-day change | 0.00% | -0.43% |
| YTD return | -6.95% | -1.95% |
| 1-year return | -11.78% | -11.52% |
| 5-year return | +7.91% | +9.84% |
| P/E ratio (TTM) | 19.54 | 19.84 |
| Forward P/E | 15.66 | 15.96 |
| EPS (TTM) | $3.33 | $3.65 |
| Dividend yield | 3.42% | 3.21% |
| Annual dividend | $2.23 | $2.33 |
| Revenue (latest FY) | $8.54B | $14.67B |
| Revenue growth (YoY) | +13.63% | +9.14% |
| Net income (latest FY) | $1.07B | $2.02B |
| Operating margin | 20.22% | 17.61% |
| Net margin | 12.54% | 13.76% |
| 52-week high | $80.36 | $84.23 |
| 52-week low | $62.29 | $68.72 |
| Distance from 52-week high | -19.03% | -14.02% |
| Analyst consensus | buy | strong_buy |
| Avg. price target upside | +19.23% | +25.12% |
| Average volume | 3.71M | 5.30M |
| Shares outstanding | 313.58M | 624.63M |
| Employees | 8,350 | 11,534 |
| Sector | Utilities | Utilities |
| Industry | Power Generation | Power Generation |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Xcel Energy is about 2.2 times larger than CMS Energy by market value ($45.24B vs $20.40B).
About CMS Energy
CMS stock →CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and NorthStar Clean Energy.
Utilities · Power Generation · 8,350 employees
About Xcel Energy
XEL stock →Xcel Energy Inc., through its subsidiaries, operates as an electric and natural gas delivery company in the United States. It operates through Regulated Electric Utility and Regulated Natural Gas Utility segments.
Utilities · Power Generation · 11,534 employees
CMS vs XEL FAQ
Which is bigger, CMS Energy or Xcel Energy?
Xcel Energy (XEL) is larger, with a market capitalization of $45.24B compared with $20.40B for CMS Energy (CMS).
Which stock has performed better over the past year, CMS or XEL?
XEL returned -11.52% over the past 12 months, compared with -11.78% for CMS (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, CMS or XEL?
CMS has the lower trailing P/E at 19.5, versus 19.8 for XEL. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, CMS Energy or Xcel Energy?
CMS Energy has the higher yield at 3.42%, compared with 3.21% for Xcel Energy.
Are CMS Energy and Xcel Energy in the same industry?
Yes. Both are classified in the Power Generation industry within the Utilities sector.