FirmAtlas

Company handbook · WEC · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17

WEC · CIK 783325 · LATEST FILING: 10-Q JUN '26 · FILED AUG 4, 2026

WEC ENERGY GROUP, INC.

$108.71 +2.67 (+2.52%)

Close, Oct 16, 2026 · 52-week $100–120

↗ wecenergygroup.com

Last fiscal year

WEC ENERGY GROUP, INC. reported revenue of $9.8B for the year ended Dec 31, 2025 (FY25), up 14.0% from FY24. Net income was $1.6B, operating cash flow $3.4B and free cash flow −$1.0B. Source: 10-K filed Feb 20, 2026.

Market cap

$35.4B

P/E

20.9

EV/EBITDA

15.4x

P/B

2.4

Div yield

3.45%

ROIC

6.1%

Revenue 1Y

14.0%/yr

EPS 1Y

−0.4%/yr

Shares 1Y

+2%

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Daily closes, split-adjusted · ratios at each fiscal year end

Company

CEOScott J. Lauber

HQMilwaukee, WI

AuditorDeloitte & Touche LLP

Year endsDecember

Compounded growth & averages

10Y

TTM

Share price

6.5%

3.8%

9.1%

−6.4%

Upgrade to see 10 years

Share price: yearly compound rate of the traded close; the last column is the past year.

Where the cash went · FY24–FY25

$9.4B deployed

Capex $7.2B 76.5%

Dividends $2.2B 23.5%

Operating cash flow over the period: $6.6B. Total debt changed by +$1.9B.

Capex was more than operating cash flow in FY25.

Sources 10-K FY25 10-Q Jun '26 All filings on EDGAR

Latest filings

Sep 4, 2026 Other announcement 8-K Aug 18, 2026 Material agreement 8-K Aug 11, 2026 Executive or director change 8-K Aug 3, 2026 Other announcement 8-K Jul 29, 2026 Quarterly results 8-K

Growth engines

How much of the profit growth came from new investment, and how much from running the business better.

Upgrade to see 10 years

Financials

Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year

Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier

TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.

Income

FY24 FY25

TTM

Revenue

8,600

9,800+14.0%

10,137

YoY

+14.0%

Gross profit

5,944

6,534+9.9%

6,661

Gross margin

69.1%

66.7%−2.4 pp

—

Operating income

2,153

2,245+4.3%

2,315

Operating margin

25.0%

22.9%−2.1 pp

—

EBITDA

3,507

3,723+6.2%

—

EBITDA margin

40.8%

38.0%−2.8 pp

—

Interest expense

815

895+9.8%

—

Interest coverage

4.30x

4.16x−0.14x

—

Net income

1,527

1,558+2.0%

1,692

YoY

+2.0%

Net margin

17.8%

15.9%−1.9 pp

—

EPS (diluted, $)

4.83

4.81−0.4%

—

YoY

−0.4%

Balance sheet

FY24 FY25

TTM

Total assets

47,363

51,518+8.8%

52,750

Cash & short-term investments

71+68.0%

—

Accounts receivable

1,669

2,063+23.6%

—

Net PP&E

34,645

38,278+10.5%

—

Other assets

11,006

11,107+0.9%

—

Total liabilities

34,561

37,466+8.4%

38,177

Accounts payable

1,137

1,140+0.3%

—

Total debt

20,024

21,942+9.6%

21,150

Other liabilities

13,400

14,383+7.3%

—

Shareholders’ equity

12,802

14,053+9.8%

14,573

Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.

Cash flow statement · as filed

FY24 FY25

TTM

Cash from operations

3,212

3,379+5.2%

3,574

Net income

1,524

1,556+2.0%

—

Depreciation & amortization

1,354

1,478+9.2%

—

Stock-based compensation

48+22.6%

—

Working capital & other

294

297+1.2%

—

Cash from investing

(3,802)

(4,875)n/m

—

Capex

(2,781)

(4,398)n/m

—

Other investing

(1,021)

(477)n/m

—

Cash from financing

468

1,524+225.8%

—

Debt raised

4,461

2,844−36.2%

—

Debt repaid

(2,138)

(1,729)n/m

—

Dividends

(1,056)

(1,148)n/m

—

Buybacks

(3)

(1)n/m

—

Shares issued

163

762+366.3%

—

Other financing

(959)

796n/m

—

Net change in cash

(123)

29n/m

—

Free cash flow (OCF − capex)

431

(1,019)−336.5%

—

Where the cash went

FY24 FY25

TTM

Operating cash flow

3,212

3,379+5.2%

3,574

Reinvested in the business

2,781

4,398+58.1%

—

% of operating cash flow

86.6%

130.1%

Capex

2,781

4,398+58.1%

—

Free cash flow

431

(1,019)−336.5%

—

YoY

−336.5%

Returned to shareholders

1,059

1,149+8.5%

—

% of free cash flow

246.0%

—

Dividends

1,056

1,148+8.7%

—

Buybacks

1−59.4%

—

Change in total debt

—

1,919

—

Cash left over

—

(249)

—

FCF conversion (FCF ÷ net income)

28.2%

−65.4%−93.6 pp

—

Owner earnings

—

(1,753)

—

Owner earnings margin

—

−17.9%

—

Buyback yield

0.0%

0.0%−0.0 pp

—

Returns & ratios

FY24 FY25

TTM

ROIC (all capital)

5.7%

6.1%+0.3 pp

—

ROIC (operating)

5.3%

5.6%+0.3 pp

—

Net debt / EBITDA

5.70x

5.87x+0.18x

—

Debt / equity

1.56x

1.56x−0.00x

—

ROE

11.9%

11.1%−0.8 pp

—

ROA

3.2%

3.0%−0.2 pp

—

ROCE

5.1%

4.9%−0.2 pp

—

NOPAT

1,879

2,087+11.0%

—

Invested capital (operating)

35,178

39,201+11.4%

—

Invested capital (all)

32,783

35,924+9.6%

—

Reinvestment rate

—

192.8%

—

Net debt is 5.9x EBITDA (FY25).

Income

Sep '25

Dec '25

Mar '26

Jun '26

Revenue

2,104

2,537

3,434

2,062

vs year-ago quarter

Gross profit

1,496

1,616

2,043

1,506

Gross margin

71.1%

63.7%

59.5%

73.1%

Operating income

450

453

980

433

Net income

271

317

804

299

vs year-ago quarter

Net margin

12.9%

12.5%

23.4%

14.5%

EPS (diluted, $)

—

0.97

—

vs year-ago quarter

Balance sheet

Sep '25

Dec '25

Mar '26

Jun '26

Total assets

49,809

51,518

51,734

52,750

Cash & equivalents

118

107

Total debt

18,924

21,942

21,427

21,150

Shareholders’ equity

14,011

14,053

14,569

14,573

Cash flow

Sep '25

Dec '25

Mar '26

Jun '26

Operating cash flow

939

425

1,218

992

Capex

1,565

—

818

1,262

Free cash flow

(626)

—

401

(270)

vs year-ago quarter