WallStSmart

CMS Energy Corporation (CMS)vsVistra Corp. (VST)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Vistra Corp. generates 101% more annual revenue ($17.74B vs $8.82B). CMS leads profitability with a 12.6% profit margin vs 5.3%. VST appears more attractively valued with a PEG of 1.38. 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

VST

Buy

53

out of 100

Grade: C-

Growth: 3.3Profit: 6.0Value: 3.3Quality: 2.5
Piotroski: 2/9Altman Z: 0.73
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
VSTSignificantly Overvalued (-53.3%)

Margin of Safety

-53.3%

Fair Value

$101.06

Current Price

$147.72

$46.66 premium

UndervaluedFair: $101.06Overvalued

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

VST1 strengths · Avg: 9.0/10
Market CapQuality
$52.12B9/10

Large-cap with strong market position

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

VST4 concerns · Avg: 3.0/10
Price/BookValuation
19.1x4/10

Trading at 19.1x book value

Profit MarginProfitability
5.3%3/10

5.3% margin — thin

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

P/E RatioValuation
70.6x2/10

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 : VST

The strongest argument for VST centers on Market Cap. Revenue growth of 13.6% demonstrates continued momentum. PEG of 1.38 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 : VST

The primary concerns for VST are Price/Book, Profit Margin, Piotroski F-Score. A P/E of 70.6x leaves little room for execution misses. Debt-to-equity of 3.36 is elevated, increasing financial risk.

Key Dynamics to Monitor

VST carries more volatility with a beta of 1.45 — expect wider price swings.

VST is growing revenue faster at 13.6% — sustainability is the question.

VST generates stronger free cash flow (-82M), providing more financial flexibility.

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

Bottom Line

CMS scores higher overall (60/100 vs 53/100) and 11.6% revenue growth. 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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Vistra Corp.

UTILITIES · UTILITIES - INDEPENDENT POWER PRODUCERS · USA

Vistra Corp. The company is headquartered in Irving, Texas.

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