WallStSmart

CMS Energy Corporation (CMS)vsNRG Energy Inc. (NRG)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

NRG Energy Inc. generates 248% more annual revenue ($30.71B vs $8.82B). CMS leads profitability with a 12.6% profit margin vs 2.8%. NRG appears more attractively valued with a PEG of 1.34. CMS earns a higher WallStSmart Score of 60/100 (C+).

CMS

Buy

60

out of 100

Grade: C+

Growth: 4.7Profit: 6.5Value: 3.3Quality: 3.3
Piotroski: 3/9Altman Z: 0.67

NRG

Buy

56

out of 100

Grade: C

Growth: 3.3Profit: 6.0Value: 6.0Quality: 5.3
Piotroski: 5/9Altman Z: 1.70
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

CMSSignificantly Overvalued (-53.5%)

Margin of Safety

-53.5%

Fair Value

$48.56

Current Price

$72.61

$24.05 premium

UndervaluedFair: $48.56Overvalued
NRGUndervalued (+58.9%)

Margin of Safety

+58.9%

Fair Value

$391.20

Current Price

$138.11

$253.09 discount

UndervaluedFair: $391.20Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

CMS1 strengths · Avg: 8.0/10
Price/BookValuation
2.4x8/10

Reasonable price relative to book value

NRG1 strengths · Avg: 10.0/10
Return on EquityProfitability
41.5%10/10

Every $100 of equity generates 42 in profit

Areas to Watch

CMS4 concerns · Avg: 2.3/10
Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

PEG RatioValuation
2.892/10

Expensive relative to growth rate

Free Cash FlowQuality
$-334.00M2/10

Negative free cash flow — burning cash

Altman Z-ScoreHealth
0.672/10

Distress zone — elevated risk

NRG4 concerns · Avg: 3.0/10
Altman Z-ScoreHealth
1.704/10

Distress zone — elevated risk

Profit MarginProfitability
2.8%3/10

2.8% margin — thin

Operating MarginProfitability
4.3%3/10

Operating margin of 4.3%

P/E RatioValuation
157.6x2/10

Premium valuation, high expectations priced in

Comparative Analysis Report

WallStSmart Research

Bull Case : CMS

The strongest argument for CMS centers on Price/Book. Revenue growth of 11.6% demonstrates continued momentum.

Bull Case : NRG

The strongest argument for NRG centers on Return on Equity. Revenue growth of 13.7% demonstrates continued momentum. PEG of 1.34 suggests the stock is reasonably priced for its growth.

Bear Case : CMS

The primary concerns for CMS are Piotroski F-Score, PEG Ratio, Free Cash Flow.

Bear Case : NRG

The primary concerns for NRG are Altman Z-Score, Profit Margin, Operating Margin. A P/E of 157.6x leaves little room for execution misses. Thin 2.8% margins leave little buffer for downturns.

Key Dynamics to Monitor

NRG carries more volatility with a beta of 1.31 — expect wider price swings.

NRG is growing revenue faster at 13.7% — sustainability is the question.

CMS generates stronger free cash flow (-334M), providing more financial flexibility.

Monitor UTILITIES - REGULATED ELECTRIC industry trends, competitive dynamics, and regulatory changes.

Bottom Line

CMS scores higher overall (60/100 vs 56/100) and 11.6% revenue growth. NRG offers better value entry with a 58.9% margin of safety. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

CMS Energy Corporation

UTILITIES · UTILITIES - REGULATED ELECTRIC · USA

CMS Energy (NYSE: CMS), based in Jackson, Michigan, is an energy company that is focused principally on utility operations in Michigan.

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NRG Energy Inc.

UTILITIES · UTILITIES - INDEPENDENT POWER PRODUCERS · USA

NRG Energy, Inc. is a large American energy company, headquartered in Houston, Texas. It was formerly the wholesale arm of Northern States Power Company (NSP), which became Xcel Energy, but became independent in 2000. NRG Energy is involved in energy generation and retail electricity.

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