Percent change in each close since the start of the chosen range, for both companies and the S&P 500 (SPY). Daily closes over the last year, weekly before that and monthly before five years.
In short
How the two compare
On the latest closes (28 Oct 2026), Ameren is the larger company by market value ($30.10B against $21.39B). Over the past year Ameren returned +5.2% and CMS Energy −5.7%, while the S&P 500 returned +12.7%. The latest filed P/E is 21.0 for Ameren and 19.9 for CMS Energy, and the operating margin 21.9% against 17.3%. Over the next 21 sessions the model expects −0.38% for Ameren, with a 63% chance of a rise, and −0.32% for CMS Energy, with a 63% chance. Ameren has no published fair value today. CMS Energy's long-run fair value is $73.19, a gap of +7.3% to its price; the long-run model view is neutral.
Model view
What the model expects
Expected returns and the chance of a rise from our forecasting models, and the long-run fair value against the price. Readings, not advice.
Model readings:
MeasureAmeren · AEECMS Energy · CMS
Expected returnnext 21 sessions
AEE−0.38%
CMS−0.32%
Chance of a risenext 21 sessions
AEE63%
CMS63%
Expected returnnext 63 sessions
AEE+0.26%
CMS+0.26%
Range of outcomes63 sessions, 80% band
AEE−12.1% to +12.6%
CMS−12.4% to +12.9%
Chance of a risenext 63 sessionsMembers only · see plans
Long-run fair valueintrinsic value model
AEE—The model's fair value falls outside its own interval or at the gap clamp, so it is not a measurement.
CMS$73.1928 Oct 2026
Gap to pricefair value against the close
AEE—The model's fair value falls outside its own interval or at the gap clamp, so it is not a measurement.
CMS+7.3%
Past readings that matchedsign of the 21-session outcome
AEE42.8%of 269
CMS45.4%of 269
Price performance
How the prices moved
Price change over each period, with the S&P 500 (SPY) for comparison.
Closes to
MeasureAmeren · AEECMS Energy · CMS
1 monthS&P 500: +1.1%
AEE+7.7%
CMS+7.5%
6 monthsS&P 500: +8.5%
AEE−2.3%
CMS−7.3%
Year to dateS&P 500: +13.3%
AEE+9.7%
CMS−0.2%
1 yearS&P 500: +12.7%
AEE+5.2%
CMS−5.7%
5 yearsS&P 500: +70.7%
AEE+47.3%
CMS+31%
1 year against the S&P 500percentage points
AEE−7.5 pts
CMS−18.4 pts
Position in the 52-week range0% low, 100% high
AEE55%close $108.00 in $95.25 to $118.32
CMS35%close $68.21 in $62.29 to $79.10
Against the 200-day average
AEE+0.2%
CMS−5.1%
Valuation
What the market pays
Size and the multiples from the latest filed quarter. A P/E on losses reads n/m.
Filings: quarter to (AEE), (CMS)
MeasureAmeren · AEECMS Energy · CMS
Market value
AEE$30.10B28 Oct 2026
CMS$21.39B28 Oct 2026
Enterprise valueat the last filing
AEE$51.78B30 Jun 2026
CMS$37.08B30 Sep 2026
P/Elatest filed
AEE21.0
CMS19.9
Price to book
AEE2.28
CMS2.26
EV / EBITDA
AEE24.96
CMS12.92
Free cash flow yield
AEE−4.44%
CMS3.89%
Dividend yield
AEE2.53%
CMS0.07%
Profitability
How much of revenue becomes profit
Margins and returns on capital from the latest filing; revenue, net income and earnings per share over the trailing twelve months.
Filings: quarter to (AEE), (CMS)
MeasureAmeren · AEECMS Energy · CMS
Gross margin
AEE—Not in the latest filing data.
CMS17.3%
Operating margin
AEE21.9%
CMS17.3%
Net margin
AEE15.1%
CMS10.9%
Return on equity
AEE10.9%
CMS11.4%
Return on invested capital
AEE1.2%
CMS1%
Revenuetrailing twelve months
AEE$8.67B
CMS$8.36B
Net incometrailing twelve months
AEE$1.50B
CMS$995.00M
Earnings per sharetrailing twelve months
AEE$5.38
CMS$3.17
Growth
How fast the business grew
Change against the same quarter a year earlier.
Filings: quarter to (AEE), (CMS)
MeasureAmeren · AEECMS Energy · CMS
Revenue growthyear over year
AEE−5.8%
CMS−9.1%
Earnings growthyear over year
AEE+14.1%
CMS−27.4%
Free cash flow growthyear over year
AEE−74.7%
CMS+64%
Financial health
Balance sheet and quality scores
Leverage, liquidity and two published scores: Altman Z (below 1.8 the distress zone, above 3 the safe zone) and Piotroski F (0 to 9).
Filings: quarter to (AEE), (CMS)
MeasureAmeren · AEECMS Energy · CMS
Debt to equity
AEE1.47
CMS2.04
Current ratiocurrent assets over current liabilities
AEE0.53
CMS0.98
Altman Z-score
AEE—Not in the latest filing data.
CMS—Not in the latest filing data.
Piotroski F-scoreout of 9
AEE3 of 9
CMS9 of 9
Trading and risk
How the shares trade
Volatility, sensitivity to the market, the deepest fall, short interest and how closely the two move together.
Closes to ; FINRA settlement
MeasureAmeren · AEECMS Energy · CMS
Volatility21 sessions, annualised
AEE17.9%
CMS19.2%
Betaagainst the S&P 500, 5 years
AEE0.37
CMS0.27
Deepest fallpeak to trough, 5 years
AEE−27.5%
CMS−28%
Market regimeour reading at each model date
AEEStrong risk-off
CMSStrong risk-off
Short interestshare of the float
AEE5.3%settled 30 Sep 2026
CMS5.8%settled 30 Sep 2026
Days to covershort shares over average volume
AEE6.8
CMS4.1
Average volume3 months, shares a day
AEE1.74M
CMS3.82M
Moving togethercorrelation of daily returns, past year0.85, closely together−1 opposite0 unrelated+1 together
Questions
Ameren or CMS Energy: common questions
Which is larger by market value, Ameren or CMS Energy?
Ameren, at $30.10B against $21.39B for CMS Energy, on the latest closes (28 Oct 2026).
Which has the higher P/E ratio, Ameren or CMS Energy?
Ameren has the higher latest filed P/E, 21.0; CMS Energy's is 19.9. Filings: quarter to 30 Jun 2026 and 30 Sep 2026.
How did Ameren and CMS Energy move over the past year against the S&P 500?
Over the past year Ameren returned +5.2% and CMS Energy −5.7%, while the S&P 500 returned +12.7%. Prices at close 28 Oct 2026.
What does the model expect for Ameren and CMS Energy over the next month?
−0.38% for Ameren with a 63% chance of a rise, and −0.32% for CMS Energy with a 63% chance, over the next 21 sessions. Model readings 28 Oct 2026. These are model readings, not advice.
How do the operating margins of Ameren and CMS Energy compare?
The operating margin is 21.9% for Ameren and 17.3% for CMS Energy. Filings: quarter to 30 Jun 2026 and 30 Sep 2026.
Do Ameren and CMS Energy shares move together?
Over the past year the correlation of their daily returns was 0.85 (closely together); 1 means they always move together, 0 unrelated, −1 opposite. Prices at close 28 Oct 2026.
In the consoleCompare up to four companies with every model readingMembers see the 63-session chance of a rise and all four horizons, side by side in Research › Compare.
Model readings are research estimates, not investment advice. Prices: daily closes. Fundamentals: the latest SEC filings. Short interest: FINRA, settlement 30 Sep 2026. A dash means the figure is not in our data; it is never shown as zero. The model view follows a published rule: next month by the sign of the expected return, the long run positive at a fair value 10% or more above the price and negative at 10% or more below it.