NYSE : WEC
WEC Energy Group, Inc. — Financial statements
Utilities · Utilities - Regulated Electric · United States
Last price 116.07 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 38.19B
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Financial statements
WEC Energy Group, Inc. (WEC) reported revenue of 10.32B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 10.32B | 9.80B | 8.60B | 8.89B | 9.60B | 8.32B |
| Operations & Maintenance | 2.43B | 2.38B | 2.15B | 2.09B | 1.93B | 2.00B |
| Selling, General & Admin | 8.00M | 8.00M | 5.80M | 5.90M | 7.00M | 3.60M |
| Depreciation & Amortization | 1.53B | 1.48B | 1.35B | 1.26B | 1.12B | 1.07B |
| Other Operating Expenses | 3.80B | 3.54B | 2.84B | 3.34B | 4.51B | 3.45B |
| Total Operating Expenses | 7.77B | 7.41B | 6.35B | 6.71B | 7.57B | 6.53B |
| Operating Income | 2.56B | 2.39B | 2.25B | 2.18B | 2.03B | 1.79B |
| Interest Expense | -928.00M | -896.30M | -816.50M | -728.60M | -516.30M | -472.30M |
| Interest Income | 5.90M | 5.90M | 17.20M | 3.90M | 1.20M | |
| Net Interest Expense | -922.10M | -890.40M | -799.30M | -724.70M | -515.10M | -472.30M |
| Income (Loss) on Equity Investments | 233.00M | 205.40M | 212.20M | 176.40M | 204.00M | 178.00M |
| Allowance for Equity Funds for Construction | 99.80M | 99.80M | 59.80M | 59.10M | 29.40M | |
| Other Non-Operating Income (Expenses) | 100.30M | 9.90M | 12.80M | 18.10M | -15.50M | 41.10M |
| EBT Excluding Unusual Items | 2.07B | 1.81B | 1.73B | 1.71B | 1.73B | 1.53B |
| Asset Writedown | -130.00M | -130.00M | -12.10M | -178.90M | ||
| Other Unusual Items | 7.30M | -11.60M | 23.10M | 500.00K | -36.30M | |
| Pretax Income | 1.94B | 1.67B | 1.75B | 1.54B | 1.73B | 1.50B |
| Income Tax Expense | 130.50M | 118.00M | 222.00M | 204.60M | 322.90M | 200.30M |
| Earnings From Continuing Ops. | 1.81B | 1.55B | 1.52B | 1.33B | 1.41B | 1.30B |
| Minority Interest in Earnings | -3.50M | 3.20M | 4.10M | 1.20M | -400.00K | 3.00M |
| Net Income | 1.81B | 1.56B | 1.53B | 1.33B | 1.41B | 1.30B |
| Net Income to Common | 1.81B | 1.56B | 1.53B | 1.33B | 1.41B | 1.30B |
| Shares Outstanding (Basic) | 325.88M | 321.90M | 316.20M | 315.40M | 315.40M | 315.40M |
| Shares Outstanding (Diluted) | 328.52M | 323.80M | 316.50M | 315.90M | 316.10M | 316.30M |
| EPS (Basic) | 5.55 | 4.84 | 4.83 | 4.22 | 4.46 | 4.12 |
| EPS (Diluted) | 5.51 | 4.81 | 4.83 | 4.22 | 4.45 | 4.11 |
| Free Cash Flow | -759.10M | -1.02B | 430.70M | 525.50M | -254.20M | -220.10M |
| Free Cash Flow Per Share | -2.31 | -3.15 | 1.36 | 1.66 | -0.80 | -0.70 |
| Dividend Per Share | 3.75 | 3.57 | 3.34 | 3.12 | 2.91 | 2.71 |
| Profit Margin | 17.53% | 15.89% | 17.76% | 14.97% | 14.67% | 15.64% |
| Free Cash Flow Margin | -7.35% | -10.39% | 5.01% | 5.91% | -2.65% | -2.65% |
| EBITDA | 4.09B | 3.87B | 3.60B | 3.45B | 3.15B | 2.86B |
| EBITDA Margin | 39.57% | 39.47% | 41.90% | 38.78% | 32.83% | 34.41% |
| D&A For EBITDA | 1.53B | 1.48B | 1.35B | 1.26B | 1.12B | 1.07B |
| EBIT | 2.56B | 2.39B | 2.25B | 2.18B | 2.03B | 1.79B |
| EBIT Margin | 24.75% | 24.38% | 26.15% | 24.57% | 21.14% | 21.49% |
| Effective Tax Rate | 6.71% | 7.06% | 12.72% | 13.33% | 18.65% | 13.38% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 58.80M | 27.60M | 9.80M | 42.90M | 28.90M | 16.30M |
| Accounts Receivable | 1.40B | 2.06B | 1.67B | 1.50B | 1.82B | 1.51B |
| Inventory | 865.20M | 803.40M | 813.20M | 775.20M | 807.10M | 635.80M |
| Prepaid Expenses | 200.00M | 271.20M | 297.50M | 250.70M | 271.60M | 245.50M |
| Restricted Cash | 136.10M | 50.50M | 21.30M | 70.10M | 25.60M | 19.60M |
| Other Current Assets | 87.20M | 69.30M | 100.60M | 153.60M | 236.10M | 233.80M |
| Total Current Assets | 2.75B | 3.28B | 2.91B | 2.80B | 3.19B | 2.66B |
| Property, Plant & Equipment | 40.79B | 38.35B | 34.68B | 31.61B | 29.13B | 27.00B |
| Regulatory Assets | 3.14B | 3.16B | 3.34B | 3.25B | 3.26B | 3.26B |
| Goodwill | 3.05B | 3.05B | 3.05B | 3.05B | 3.05B | 3.05B |
| Other Intangible Assets | 277.30M | 68.40M | 47.50M | 34.50M | 24.90M | 5.70M |
| Long-Term Investments | 2.50B | 2.28B | 2.11B | 2.01B | 1.91B | 1.79B |
| Other Long-Term Assets | 1.39B | 1.33B | 1.23B | 1.19B | 1.30B | 1.22B |
| Total Assets | 53.90B | 51.52B | 47.36B | 43.94B | 41.87B | 38.99B |
| Accounts Payable | 1.12B | 1.14B | 1.14B | 896.60M | 1.20B | 1.01B |
| Short-Term Debt | 1.90B | 1.92B | 1.12B | 2.02B | 1.65B | 1.90B |
| Current Portion of Long-Term Debt | 1.13B | 1.52B | 1.73B | 1.26B | 808.50M | 91.00M |
| Current Portion of Leases | 3.30M | 4.50M | 4.70M | 76.70M | 82.10M | |
| Other Current Liabilities | 1.03B | 1.01B | 854.70M | 928.40M | 880.60M | 677.20M |
| Total Current Liabilities | 5.19B | 5.59B | 4.84B | 5.11B | 4.61B | 3.75B |
| Long-Term Debt | 19.72B | 18.50B | 17.18B | 15.37B | 14.66B | 13.47B |
| Long-Term Leases | 417.80M | 445.00M | 340.80M | 184.70M | 135.90M | 80.40M |
| Long-Term Unearned Revenue | 300.30M | 314.20M | 334.60M | 356.40M | 370.70M | 389.20M |
| Pension & Post-Retirement Benefits | 171.60M | 219.00M | ||||
| Long-Term Deferred Tax Liabilities | 6.34B | 5.89B | 5.51B | 4.92B | 4.63B | 4.31B |
| Other Long-Term Liabilities | 6.92B | 6.72B | 6.35B | 5.93B | 5.68B | 5.65B |
| Total Liabilities | 38.89B | 37.47B | 34.56B | 31.87B | 30.26B | 27.88B |
| Common Stock | 3.30M | 3.30M | 3.20M | 3.20M | 3.20M | 3.20M |
| Additional Paid-In Capital | 5.52B | 5.12B | 4.32B | 4.12B | 4.12B | 4.14B |
| Retained Earnings | 9.06B | 8.49B | 8.08B | 7.61B | 7.27B | 6.78B |
| Comprehensive Income & Other | -7.40M | -7.60M | -7.80M | -7.70M | -6.80M | -3.20M |
| Total Common Equity | 14.58B | 13.61B | 12.39B | 11.72B | 11.38B | 10.91B |
| Minority Interest | 434.70M | 439.20M | 406.90M | 347.30M | 239.70M | 200.10M |
| Shareholders' Equity | 15.01B | 14.05B | 12.80B | 12.07B | 11.62B | 11.11B |
| Total Liabilities & Equity | 53.90B | 51.52B | 47.36B | 43.94B | 41.87B | 38.99B |
| Total Debt | 23.17B | 22.39B | 20.37B | 18.84B | 17.32B | 15.62B |
| Net Cash (Debt) | -23.11B | -22.36B | -20.36B | -18.80B | -17.30B | -15.61B |
| Net Cash Per Share | -70.36 | -69.06 | -64.33 | -59.51 | -54.71 | -49.34 |
| Filing Date Shares Outstanding | 328.99M | 325.53M | 317.75M | 315.56M | 315.43M | 315.43M |
| Total Common Shares Outstanding | 328.99M | 325.46M | 317.68M | 315.43M | 315.43M | 315.43M |
| Working Capital | -2.44B | -2.31B | -1.93B | -2.32B | -1.42B | -1.10B |
| Book Value Per Share | 44.30 | 41.83 | 39.02 | 37.17 | 36.07 | 34.60 |
| Tangible Book Value | 11.25B | 10.49B | 9.29B | 8.64B | 8.30B | 7.85B |
| Tangible Book Value Per Share | 34.18 | 32.24 | 29.26 | 27.38 | 26.31 | 24.90 |
| Machinery | 42.73B | 39.66B | 36.69B | 33.69B | 33.44B | |
| Construction In Progress | 3.43B | 1.69B | 1.15B | 1.05B | 435.80M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.81B | 1.56B | 1.53B | 1.33B | 1.41B | 1.30B |
| Depreciation & Amortization | 1.53B | 1.48B | 1.35B | 1.26B | 1.12B | 1.07B |
| Loss (Gain) on Sale of Assets | -66.20M | -6.20M | ||||
| Loss (Gain) on Equity Investments | -55.30M | -29.20M | -57.40M | -33.00M | -74.30M | -25.10M |
| Asset Writedown | 130.00M | 130.00M | 12.10M | 178.90M | ||
| Change in Accounts Receivable | -192.00M | -411.80M | -161.50M | 340.60M | -342.10M | -249.20M |
| Change in Inventory | -22.60M | 9.80M | -38.00M | 41.90M | -171.30M | -107.20M |
| Change in Accounts Payable | 98.60M | 46.40M | 99.70M | -254.00M | 121.50M | 126.90M |
| Change in Income Taxes | -28.80M | 36.10M | -41.00M | 27.90M | ||
| Change in Other Net Operating Assets | 70.90M | 116.10M | 61.50M | 78.00M | 51.10M | -77.30M |
| Other Operating Activities | 497.40M | 446.00M | 454.70M | 42.20M | 11.30M | -3.80M |
| Operating Cash Flow | 3.84B | 3.38B | 3.21B | 3.02B | 2.06B | 2.03B |
| Capital Expenditures | -4.60B | -4.40B | -2.78B | -2.49B | -2.31B | -2.25B |
| Sale of Property, Plant & Equipment | 18.20M | 69.00M | 21.90M | |||
| Cash Acquisitions | -3.00M | -406.10M | -993.70M | -1.01B | -382.00M | -119.90M |
| Investment in Securities | -173.00M | -142.40M | -45.50M | -63.70M | -45.50M | |
| Other Investing Activities | -149.40M | 71.90M | 17.80M | 13.40M | 31.00M | 39.00M |
| Investing Cash Flow | -4.90B | -4.87B | -3.80B | -3.56B | -2.64B | -2.31B |
| Short-Term Debt Issued | 806.90M | 373.70M | 459.20M | |||
| Long-Term Debt Issued | 2.84B | 4.46B | 2.17B | 2.00B | 2.38B | |
| Total Debt Issued | 3.96B | 3.65B | 4.46B | 2.54B | 2.00B | 2.84B |
| Short-Term Debt Repaid | -902.80M | -252.60M | -340.00M | |||
| Long-Term Debt Repaid | -1.73B | -2.14B | -1.01B | -92.10M | -1.26B | |
| Total Debt Repaid | -2.02B | -1.73B | -3.04B | -1.01B | -344.70M | -1.60B |
| Net Debt Issued (Repaid) | 1.94B | 1.92B | 1.42B | 1.54B | 1.65B | 1.24B |
| Issuance of Common Stock | 409.20M | 801.00M | 187.10M | 6.30M | 33.60M | 15.70M |
| Repurchase of Common Stock | -1.30M | -1.30M | -3.20M | -16.60M | -69.20M | -33.10M |
| Common Dividends Paid | -1.22B | -1.15B | -1.06B | -984.20M | -917.90M | -854.80M |
| Other Financing Activities | -44.90M | -50.40M | -80.10M | -21.00M | -24.70M | -76.40M |
| Financing Cash Flow | 1.08B | 1.52B | 467.70M | 522.80M | 676.40M | 294.00M |
| Net Cash Flow | 12.80M | 28.70M | -123.00M | -17.00M | 94.70M | 14.90M |
| Free Cash Flow | -759.10M | -1.02B | 430.70M | 525.50M | -254.20M | -220.10M |
| Free Cash Flow Margin | -7.35% | -10.39% | 5.01% | 5.91% | -2.65% | -2.65% |
| Free Cash Flow Per Share | -2.31 | -3.15 | 1.36 | 1.66 | -0.80 | -0.70 |
| Levered Free Cash Flow | -1.97B | -2.14B | -474.54M | -156.70M | -334.91M | -818.95M |
| Unlevered Free Cash Flow | -1.39B | -1.58B | 35.77M | 298.68M | -12.22M | -523.76M |
| Cash Interest Paid | 884.30M | 858.50M | 785.70M | 653.40M | 485.20M | 473.80M |
| Cash Income Tax Paid | -281.30M | -264.20M | -58.90M | 52.40M | 33.80M | |
| Change in Working Capital | -73.90M | -203.40M | -79.30M | 234.40M | -340.80M | -306.80M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 38.46B | 34.31B | 29.75B | 26.55B | 29.58B | 30.62B |
| Enterprise Value | 61.57B | 55.92B | 49.05B | 45.07B | 46.12B | 45.48B |
| PE Ratio | 21.24 | 22.03 | 19.48 | 19.94 | 21.00 | 23.55 |
| PS Ratio | 3.73 | 3.50 | 3.46 | 2.99 | 3.08 | 3.68 |
| PB Ratio | 2.64 | 2.44 | 2.32 | 2.20 | 2.55 | 2.75 |
| P/FCF Ratio | 69.07 | 50.52 | ||||
| P/OCF Ratio | 10.02 | 10.15 | 9.26 | 8.80 | 14.35 | 15.06 |
| EV/Sales Ratio | 5.96 | 5.71 | 5.70 | 5.07 | 4.81 | 5.47 |
| EV/EBITDA Ratio | 15.07 | 14.46 | 13.61 | 13.07 | 14.64 | 15.89 |
| EV/EBIT Ratio | 24.10 | 23.40 | 21.81 | 20.63 | 22.74 | 25.45 |
| EV/FCF Ratio | 113.88 | 85.77 | ||||
| Debt / Equity Ratio | 1.54 | 1.59 | 1.59 | 1.56 | 1.49 | 1.41 |
| Debt / EBITDA Ratio | 5.67 | 5.78 | 5.64 | 5.45 | 5.49 | 5.45 |
| Debt / FCF Ratio | 47.29 | 35.85 | ||||
| Net Debt / Equity Ratio | 1.54 | 1.59 | 1.59 | 1.56 | 1.49 | 1.40 |
| Net Debt / EBITDA Ratio | 5.66 | 5.78 | 5.65 | 5.45 | 5.49 | 5.45 |
| Net Debt / FCF Ratio | -30.45 | -21.95 | 47.27 | 35.77 | -68.04 | -70.91 |
| Quick Ratio | 0.28 | 0.37 | 0.35 | 0.30 | 0.40 | 0.41 |
| Current Ratio | 0.53 | 0.59 | 0.60 | 0.55 | 0.69 | 0.71 |
| Asset Turnover | 0.20 | 0.20 | 0.19 | 0.21 | 0.24 | 0.22 |
| Return on Equity (ROE) | 12.49% | 11.58% | 12.25% | 11.23% | 12.39% | 11.92% |
| Return on Assets (ROA) | 3.08% | 3.02% | 3.08% | 3.18% | 3.14% | 2.94% |
| Return on Capital Employed (ROCE) | 5.20% | 5.20% | 5.30% | 5.60% | 5.40% | 5.10% |
| Earnings Yield | 4.71% | 4.54% | 5.13% | 5.02% | 4.76% | 4.25% |
| FCF Yield | -1.97% | -2.97% | 1.45% | 1.98% | -0.86% | -0.72% |
| Dividend Yield | 3.26% | 3.39% | 3.57% | 3.71% | 3.10% | 2.79% |
| Payout Ratio | 69.21% | 73.69% | 69.16% | 73.91% | 65.19% | 65.74% |
| Buyback Yield / Dilution | -2.30% | -2.31% | -0.19% | 0.06% | 0.06% | 0.06% |
| Total Shareholder Return | 0.96% | 1.08% | 3.38% | 3.77% | 3.17% | 2.85% |