• CMS Energy average gross margin for 2023 was 56.32%, a 5.33% increase from 2022.
• CMS Energy average gross margin for 2022 was 53.47%, a 10.56% increase from 2021.
• CMS Energy average gross margin for 2021 was 59.78%, a 0% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.