WEC Energy Group, Inc.

WEC · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$34,306	$29,750	$26,550	$29,575	$30,619	$29,029	$29,093	$21,847	$20,954	$18,500	$16,185	$11,898	$9,409	$8,483	$8,132	$6,881	$5,826	$4,907	$5,695	$5,553	$4,570	$3,974	$3,911	$3,566	$2,642	$2,718	$2,249	$3,584	$3,233	$2,976	$3,364	$2,796	$2,880	$2,693	$2,642	$2,129	$2,155	$1,818	$1,497	$1,751	$1,324
Enterprise value	$57,001	$50,444	$45,622	$47,123	$46,363	$43,458	$41,901	$33,585	$31,979	$28,669	$26,542	$17,079	$14,656	$13,738	$13,434	$11,920	$10,803	$9,615	$10,095	$9,798	$8,480	$7,617	$8,185	$7,547	$6,867	$6,851	$4,886	$5,723	$5,156	$4,641	$4,916	$4,355	–	–	–	–	–	–	–	–	–
P/E (TTM) at period end	22.03×	19.48×	19.94×	21.00×	23.55×	24.19×	25.65×	20.62×	17.41×	19.70×	25.35×	20.22×	16.30×	15.53×	15.45×	15.07×	15.24×	13.67×	16.97×	17.55×	14.80×	12.97×	16.01×	21.36×	12.06×	17.62×	10.76×	19.05×	53.26×	13.64×	14.37×	15.45×	15.28×	15.87×	13.96×	11.40×	11.11×	9.92×	8.83×	11.10×	7.90×
P/S (TTM) at period end	3.50×	3.46×	2.99×	3.08×	3.68×	4.01×	3.87×	2.84×	2.74×	2.48×	2.73×	2.38×	2.08×	2.00×	1.81×	1.64×	1.41×	1.11×	1.34×	1.39×	1.20×	1.16×	0.96×	0.95×	0.67×	0.81×	0.99×	1.81×	1.81×	1.68×	1.90×	1.60×	1.75×	1.74×	1.72×	1.48×	1.44×	1.18×	1.10×	1.24×	0.92×
P/B at period end	2.51×	2.39×	2.26×	2.59×	2.80×	2.76×	2.87×	2.22×	2.21×	2.06×	1.86×	2.67×	2.21×	2.04×	2.05×	1.81×	1.63×	1.47×	1.82×	1.90×	1.69×	1.58×	1.64×	1.64×	1.27×	1.33×	1.00×	1.85×	1.71×	1.51×	1.77×	1.57×	–	–	–	–	–	–	–	–	–
EV / EBITDA (TTM)	15.31×	14.38×	14.38×	15.47×	16.62×	16.20×	17.05×	14.51×	12.42×	11.66×	14.47×	11.17×	9.93×	10.01×	10.98×	10.57×	10.77×	9.76×	10.57×	10.49×	9.29×	10.74×	8.76×	9.21×	6.77×	8.11×	6.39×	8.62×	–	–	–	–	–	–	–	–	–	–	–	–	–
EV / Sales (TTM)	5.82×	5.87×	5.13×	4.91×	5.58×	6.00×	5.57×	4.37×	4.18×	3.84×	4.48×	3.42×	3.24×	3.24×	2.99×	2.84×	2.62×	2.17×	2.38×	2.45×	2.22×	2.22×	2.02×	2.02×	1.75×	2.04×	2.15×	2.89×	2.88×	2.62×	2.78×	2.50×	–	–	–	–	–	–	–	–	–
Returns
Return on equity	11.4%	12.3%	11.3%	12.3%	11.9%	11.4%	11.2%	10.8%	12.7%	10.5%	7.4%	13.2%	13.5%	13.1%	13.3%	12.0%	10.7%	10.8%	10.7%	10.8%	11.4%	12.1%	10.2%	7.7%	10.5%	7.5%	9.3%	9.7%	3.2%	11.0%	12.3%	10.2%	–	–	–	–	–	–	–	–	–
Return on invested capital	5.7%	5.7%	5.4%	5.4%	5.6%	5.8%	6.0%	5.9%	6.6%	5.5%	3.9%	7.2%	7.2%	6.8%	6.3%	5.9%	4.9%	5.1%	5.1%	5.1%	5.7%	3.5%	5.3%	4.6%	5.6%	4.0%	6.1%	6.1%	4.1%	7.5%	8.5%	6.9%	–	–	–	–	–	–	–	–	–
Dividend yield	3.3%	3.6%	3.7%	3.1%	2.8%	2.7%	2.6%	3.2%	3.1%	3.4%	2.8%	3.0%	3.5%	3.3%	3.0%	2.7%	2.7%	2.6%	2.1%	1.9%	2.3%	2.5%	2.4%	2.6%	3.6%	6.1%	8.1%	4.9%	5.3%	5.6%	4.7%	5.4%	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	0.59×	0.60×	0.55×	0.69×	0.71×	0.50×	0.66×	0.67×	0.57×	0.89×	0.81×	0.77×	1.04×	0.88×	1.05×	0.77×	0.81×	0.98×	0.74×	0.65×	0.84×	1.19×	1.03×	0.82×	1.07×	0.84×	0.90×	0.83×	0.81×	1.07×	1.22×	1.01×	–	–	–	–	–	–	–	–	–
Debt / equity	1.50×	1.47×	1.49×	1.44×	1.41×	1.29×	1.17×	1.09×	1.07×	1.12×	1.07×	1.03×	1.10×	1.17×	1.17×	1.16×	1.17×	1.24×	1.41×	1.47×	1.47×	1.46×	1.81×	1.85×	2.05×	2.04×	1.21×	1.11×	1.03×	0.85×	0.83×	0.88×	–	–	–	–	–	–	–	–	–
Effective tax rate	7.1%	12.7%	13.3%	18.6%	13.4%	15.9%	9.9%	13.8%	24.1%	37.6%	40.4%	38.1%	36.9%	35.9%	34.0%	35.5%	36.5%	37.7%	39.1%	35.9%	33.0%	39.7%	35.6%	38.8%	41.9%	44.9%	34.7%	33.8%	28.3%	37.2%	38.4%	41.5%	–	–	–	–	–	–	–	–	–
Share count
Diluted shares outstanding	324	316	316	316	316	316	317	317	317	317	273	228	230	233	235	237	236	236	237	237	237	238	237	285	235	243	234	228	225	221	220	216	209	203	202	202	202	202	200	200	200

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$10,137	$9,800	$8,600	$8,893	$9,597	$8,316	$7,242	$7,523	$7,680	$7,648	$7,472	$5,926	$4,997	$4,519	$4,246	$4,486	$4,202	$4,128	$4,431	$4,238	$3,996	$3,816	$3,431	$4,054	$3,736	$3,928	$3,355	$2,273	$1,980	$1,790	$1,774	$1,770	$1,742	$1,644	$1,552	$1,539	$1,442	$1,493	$1,541	$1,365	$1,411	$1,441
Cost of revenue	($3,476)	($3,266)	($2,656)	($3,191)	($4,359)	($3,311)	($2,320)	($2,679)	($2,898)	($2,823)	($2,647)	($2,240)	($2,259)	($1,827)	($1,644)	($1,898)	($1,851)	–	($2,462)	($996)	($802)	($777)	–	–	–	($660)	($682)	($588)	–	($445)	($332)	($345)	($328)	–	–	–	–	–	–	–	–	–
Gross profit	$6,661	$6,534	$5,944	$5,702	$5,238	$5,005	$4,922	$4,844	$4,782	$4,826	$4,825	$3,686	$2,738	$2,692	$2,602	$2,588	$2,351	–	$1,966	$3,241	$3,194	$3,039	–	–	–	$3,268	$2,681	$1,684	–	$1,345	$1,442	$1,425	$1,414	–	–	–	–	–	–	–	–	–
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	–	($592)	–	–	–	–	–	–	–	–	–	($1,709)	($1,112)	–	($1,116)	($1,257)	($1,328)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Total operating expenses	($4,346)	($4,289)	($3,791)	($3,794)	($3,314)	($3,290)	($3,216)	($3,313)	($3,313)	($3,050)	($3,129)	($2,436)	($1,626)	($1,612)	($1,602)	($1,701)	($1,541)	–	($1,311)	($2,614)	($2,626)	($2,476)	–	–	–	($2,664)	($2,236)	($1,229)	–	($1,127)	($1,006)	($948)	($1,021)	–	–	–	–	–	–	–	–	–
Total costs and expenses	($7,822)	($7,555)	($6,447)	($6,985)	($7,673)	($6,601)	($5,536)	($5,992)	($6,211)	($5,872)	($5,776)	($4,676)	($3,885)	($3,439)	($3,246)	($3,599)	($3,392)	($3,468)	($3,776)	($3,611)	($3,428)	($3,253)	($3,074)	($3,504)	($3,278)	($3,324)	($2,910)	($1,817)	($1,605)	($1,571)	($1,337)	($1,293)	($1,349)	–	–	–	–	–	–	–	–	–
Operating income	$2,315	$2,245	$2,153	$1,908	$1,924	$1,715	$1,706	$1,531	$1,468	$1,776	$1,696	$1,250	$1,112	$1,080	$1,000	$887	$810	$660	$655	$627	$568	$563	$357	$551	$458	$605	$445	$456	$375	$218	$436	$477	$393	$1,644	$1,552	$1,539	$1,442	$1,493	$1,541	$1,365	$1,411	$1,441
Earnings
EBITDA	$3,830	$3,723	$3,507	$3,172	$3,047	$2,789	$2,682	$2,458	$2,314	$2,575	$2,459	$1,834	$1,529	$1,476	$1,372	$1,224	$1,128	$1,003	$985	$955	$934	$913	$710	$934	$820	$1,015	$845	$765	$664	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest income	–	$6	$17	$4	$1	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	$6	$6	$18	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($909)	($895)	($815)	($727)	($515)	($471)	($494)	($502)	($445)	($416)	($403)	($331)	($240)	($251)	($248)	($236)	($206)	($157)	($154)	($168)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$1,812	$1,674	$1,746	$1,536	$1,733	$1,499	$1,429	$1,260	$1,230	$1,588	$1,507	$1,074	$950	$915	$853	$777	$704	$591	$570	$552	$488	$453	$202	$379	$273	$359	$280	$320	$284	$85	$348	$380	$309	–	–	–	–	–	–	–	–	–
Income tax expense	($118)	($118)	($222)	($205)	($323)	($200)	($228)	($125)	($170)	($384)	($566)	($434)	($362)	($338)	($306)	($264)	($250)	($216)	($215)	($216)	($175)	($149)	($80)	($135)	($106)	($150)	($126)	($111)	($96)	($24)	($129)	($146)	($128)	$188	$170	$189	$187	$194	$183	$170	$158	$168
Net income	$1,693	$1,559	$1,528	$1,333	$1,409	$1,302	$1,201	$1,135	$1,059	$1,204	$939	$638	$590	$579	$546	$526	$456	$382	$359	$336	$316	$309	$306	$244	$167	$219	$154	$209	$188	$61	$218	$234	$181	$188	$170	$189	$187	$194	$183	$170	$158	$168
Per share
Diluted EPS (GAAP)	$5.16	$4.81	$4.83	$4.22	$4.45	$4.11	$3.79	$3.58	$3.34	$3.79	$2.96	$2.34	$2.59	$2.51	$2.35	$2.24	$1.93	$1.62	$1.52	$1.42	$1.34	$1.31	$1.29	$1.03	$0.59	$0.93	$0.64	$0.90	$0.83	$0.27	$0.99	$1.07	$0.84	$0.90	$0.84	$0.62	$0.62	$0.64	$0.61	$0.57	$0.26	$0.27
Basic EPS (GAAP)	$5.20	$4.84	$4.83	$4.22	$4.46	$4.12	$3.80	$3.60	$3.36	$3.81	$2.98	$2.36	$2.61	$2.54	$2.37	$2.26	$1.95	$1.64	$1.53	$1.44	$1.35	$1.32	$1.30	$1.05	$0.59	$0.94	$0.64	$0.90	$0.83	$0.27	$0.99	$1.07	$0.84	$0.90	$0.84	$0.62	$0.62	$0.64	$0.61	$0.57	$0.26	$0.27
Basic shares outstanding	325	322	316	315	315	315	315	315	316	316	316	271	226	228	230	233	234	234	234	234	234	234	236	234	283	234	241	234	228	225	221	220	216	209	203	202	202	202	202	200	200	200
Margins
Gross margin	65.7%	66.7%	69.1%	64.1%	54.6%	60.2%	68.0%	64.4%	62.3%	63.1%	64.6%	62.2%	54.8%	59.6%	61.3%	57.7%	55.9%	–	44.4%	76.5%	79.9%	79.6%	–	–	–	83.2%	79.9%	74.1%	–	75.2%	81.3%	80.5%	81.1%	–	–	–	–	–	–	–	–	–
Operating margin	22.8%	22.9%	25.0%	21.5%	20.0%	20.6%	23.6%	20.4%	19.1%	23.2%	22.7%	21.1%	22.3%	23.9%	23.6%	19.8%	19.3%	16.0%	14.8%	14.8%	14.2%	14.8%	10.4%	13.6%	12.3%	15.4%	13.3%	20.1%	18.9%	12.2%	24.6%	27.0%	22.5%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Net margin	16.7%	15.9%	17.8%	15.0%	14.7%	15.7%	16.6%	15.1%	13.8%	15.7%	12.6%	10.8%	11.8%	12.8%	12.9%	11.7%	10.9%	9.3%	8.1%	7.9%	7.9%	8.1%	8.9%	6.0%	4.5%	5.6%	4.6%	9.2%	9.5%	3.4%	12.3%	13.2%	10.4%	11.5%	10.9%	12.3%	12.9%	13.0%	11.9%	12.4%	11.2%	11.6%

Analyst consensus

Hold35 analysts

Bearish · 4 · Hold · 21 · Bullish · 10

Earnings history

	EPS	Estimate
Q3 2024	$0.82	$0.70	Beat
Q4 2024	$1.43	$1.49	Miss
Q1 2025	$2.27	$2.18	Beat
Q2 2025	$0.76	$0.70	Beat
Q3 2025	$0.83	$0.81	Beat
Q4 2025	$1.42	$1.39	Beat
Q1 2026	$2.45	$2.30	Beat
Q2 2026	$0.91	$0.80	Beat

Peers

Company overview

IPO dateMar 17, 1980

CEOScott J. Lauber

Employees7,151

SectorUtilities

IndustryRegulated Electric

CountryUS

ExchangeNew York Stock Exchange

Websitewww.wecenergygroup.com

WEC Energy Group, Inc. is a major energy provider operating across the United States, delivering regulated natural gas and electricity, as well as both regulated and non-regulated renewable energy services. The company's operations are divided into six main business segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other. Its electricity generation relies on a diverse portfolio of sources, including coal, natural gas, oil, hydroelectric, wind, solar, and biomass. Beyond power generation, WEC Energy Group also provides electric transmission services, manages retail natural gas distribution, handles natural gas transportation, and is involved in the production, distribution, and sale of steam. As of December 31, 2021, the company's vast infrastructure network included approximately 35,800 miles of overhead electricity distribution lines and 35,600 miles of underground cables. This electrical system was supported by 440 distribution substations and 510,500 line transformers. For natural gas, its network comprised 50,900 miles of distribution mains, 1,200 miles of transmission mains, 2.3 million lateral services, and 500 distribution and transmission gate stations. Furthermore, WEC Energy Group managed 68.2 billion cubic feet of working gas capacity within its underground natural gas storage facilities. The company, founded in 1981, was previously known as Wisconsin Energy Corporation until it officially adopted the name WEC Energy Group, Inc. in June 2015. Its corporate headquarters are located in Milwaukee, Wisconsin.

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