CMS Energy Corporation (CMS)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	14,508,000	14,114,000	13,925,000	12,985,000	13,122,000	12,685,000	11,667,000	12,045,000	12,046,000	12,027,000	11,728,000	13,561,000	11,744,000	13,275,000	13,414,000	12,545,000	11,951,000	12,040,000	11,236,000	11,105,000
Total assets	US$ in thousands	33,517,000	32,513,000	32,265,000	31,386,000	31,353,000	30,372,000	29,040,000	28,740,000	28,753,000	30,513,000	29,953,000	29,723,000	29,666,000	29,280,000	28,581,000	27,447,000	26,837,000	26,009,000	25,292,000	24,793,000
Debt-to-assets ratio		0.43	0.43	0.43	0.41	0.42	0.42	0.40	0.42	0.42	0.39	0.39	0.46	0.40	0.45	0.47	0.46	0.45	0.46	0.44	0.45

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $14,508,000K ÷ $33,517,000K
= 0.43

The debt-to-assets ratio of CMS Energy Corporation has been relatively stable over the past eight quarters, ranging from 0.43 to 0.48. This ratio indicates the proportion of the company's assets financed through debt. The trend shows that the company has maintained a conservative approach in financing its operations, with less than half of its assets being funded by debt. The slight fluctuations in the ratio suggest that the company is managing its debt levels effectively and maintaining a healthy balance between debt and equity in its capital structure. Overall, the consistent level of the debt-to-assets ratio signifies a prudent financial management strategy by CMS Energy Corporation.