WEC Energy Group (WEC) Financials

$108.43 -0.05 (-0.05%)

Closing price 08/22/2025 03:59 PM Eastern

Extended Trading

$108.22 -0.21 (-0.19%)

As of 08/22/2025 07:18 PM Eastern

Annual Income Statements for WEC Energy Group

This table shows WEC Energy Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	588	639	939	1,204	1,059	1,134	1,200	1,300	1,408	1,332	1,527
Consolidated Net Income / (Loss)	590	640	940	1,205	1,061	1,135	1,201	1,299	1,410	1,332	1,524
Net Income / (Loss) Continuing Operations	590	640	940	1,205	1,061	1,135	1,201	1,299	1,410	1,332	1,524
Total Pre-Tax Income	951	1,074	1,507	1,588	1,230	1,260	1,429	1,499	1,733	1,536	1,746
Total Operating Income	1,112	1,251	1,696	1,776	1,468	1,531	1,706	1,715	1,924	1,908	2,153
Total Gross Profit	1,625	1,977	4,825	4,826	4,782	4,844	4,922	5,005	5,239	5,702	5,944
Total Revenue	4,997	5,926	7,472	7,649	7,680	7,523	7,242	8,316	9,597	8,893	8,600
Operating Revenue	4,997	5,926	7,472	7,649	7,680	7,523	7,242	8,316	9,597	8,893	8,600
Total Cost of Revenue	3,372	3,949	2,647	2,823	2,898	2,679	2,320	3,311	4,359	3,191	2,656
Operating Cost of Revenue	3,372	3,949	2,647	2,823	2,898	2,679	2,320	3,311	4,359	3,191	2,656
Total Operating Expenses	513	726	3,129	3,050	3,313	3,313	3,216	3,290	3,314	3,794	3,791
Selling, General & Admin Expense	-	-	2,171	2,056	2,271	2,185	2,032	2,006	1,938	2,101	2,158
Depreciation Expense	391	562	763	799	846	926	976	1,074	1,123	1,264	1,355
Other Operating Expenses / (Income)	122	164	195	195	197	202	208	210	254	250	267
Impairment Charge	-	-	-	-	-	-	-	0.00	0.00	179	12
Total Other Income / (Expense), net	-161	-176	-190	-188	-238	-272	-277	-216	-192	-372	-407
Interest Expense	240	331	403	416	445	502	532	507	515	727	792
Interest & Investment Income	66	96	147	154	137	128	176	158	195	178	208
Other Income / (Expense), net	13	59	67	74	70	102	80	133	129	178	178
Income Tax Expense	362	434	567	384	170	125	228	200	323	205	222
Preferred Stock Dividends Declared	1.20	1.80	-	1.20	1.20	1.20	1.20	1.20	1.20	1.20	1.20
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	0.00	0.00	-0.50	0.30	-3.00	0.40	-1.20	-4.10
Basic Earnings per Share	$2.61	$2.36	-	$3.81	$3.36	$3.60	$3.80	$4.12	$4.46	$4.22	$4.83
Weighted Average Basic Shares Outstanding	225.60M	271.10M	315.60M	315.60M	315.50M	315.40M	315.40M	315.40M	315.40M	315.40M	316.20M
Diluted Earnings per Share	$2.59	$2.34	-	$3.79	$3.34	$3.58	$3.79	$4.11	$4.45	$4.22	$4.83
Weighted Average Diluted Shares Outstanding	227.50M	272.70M	316.90M	317.20M	316.90M	316.70M	316.50M	316.30M	316.10M	315.90M	316.50M
Weighted Average Basic & Diluted Shares Outstanding	224.90M	269.80M	314.70M	316.20M	315.60M	315.43M	315.43M	315.43M	315.43M	315.56M	317.75M
Cash Dividends to Common per Share	$1.56	$1.74	$1.98	$2.08	$2.21	$2.36	$2.53	$2.71	$2.91	$3.12	$3.34

This table shows WEC Energy Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	253	508	290	316	219	622	211	240	454	724	245
Consolidated Net Income / (Loss)	252	508	290	316	219	623	210	239	453	726	243
Net Income / (Loss) Continuing Operations	252	508	290	316	219	623	210	239	453	726	243
Total Pre-Tax Income	311	582	339	376	240	710	252	270	514	786	263
Total Operating Income	380	669	425	472	341	813	365	384	591	938	405
Total Gross Profit	1,323	1,578	1,297	1,370	1,456	1,753	1,302	1,343	1,546	1,984	1,439
Total Revenue	2,558	2,888	1,830	1,957	2,218	2,680	1,772	1,864	2,284	3,150	2,010
Operating Revenue	2,558	2,888	1,830	1,957	2,218	2,680	1,772	1,864	2,284	3,150	2,010
Total Cost of Revenue	1,235	1,310	533	587	761	927	470	521	738	1,166	571
Operating Cost of Revenue	1,235	1,310	533	587	761	927	470	521	738	1,166	571
Total Operating Expenses	943	909	872	898	1,115	940	938	959	955	1,046	1,034
Selling, General & Admin Expense	580	534	496	517	554	531	533	567	527	608	596
Depreciation Expense	285	306	314	320	325	333	337	341	344	360	369
Other Operating Expenses / (Income)	78	70	62	61	58	76	68	52	72	78	69
Total Other Income / (Expense), net	-69	-88	-87	-96	-101	-103	-113	-114	-77	-151	-142
Interest Expense	150	172	179	183	194	192	201	204	195	223	221
Interest & Investment Income	46	44	44	45	45	45	47	47	69	54	52
Other Income / (Expense), net	35	41	48	42	47	44	41	44	50	18	27
Income Tax Expense	59	74	49	60	22	88	42	32	61	61	20
Preferred Stock Dividends Declared	0.30	0.30	0.30	0.30	0.30	0.30	0.30	0.30	0.30	0.30	0.30
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.80	-0.20	0.00	-0.70	-0.30	0.00	-1.60	-1.80	-0.70	1.00	-2.70
Weighted Average Basic Shares Outstanding	315.40M	315.40M	315.40M	315.40M	315.40M	315.60M	315.90M	316.20M	316.20M	318.20M	320.30M
Weighted Average Diluted Shares Outstanding	316.10M	315.90M	315.90M	315.80M	315.90M	315.90M	316.20M	316.50M	316.50M	319.30M	322.20M
Weighted Average Basic & Diluted Shares Outstanding	315.43M	315.43M	315.43M	315.43M	315.56M	315.82M	316.08M	316.35M	317.75M	319.13M	321.87M
Cash Dividends to Common per Share	-	$0.78	$0.78	$0.78	-	$0.84	$0.84	$0.84	-	$0.89	$0.89

This table details how cash moves in and out of WEC Energy Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	36	-12	-96	-14	88	-64	-9.70	15	95	-17	-123
Net Cash From Operating Activities	1,199	1,294	2,104	2,079	2,446	2,346	2,196	2,033	2,061	3,018	3,212
Net Cash From Continuing Operating Activities	1,199	1,294	2,104	2,079	2,446	2,346	2,196	2,033	2,061	3,018	3,212
Net Income / (Loss) Continuing Operations	590	640	940	1,205	1,061	1,135	1,201	1,299	1,410	1,332	1,524
Consolidated Net Income / (Loss)	-	640	940	1,205	1,061	1,135	1,201	1,299	1,410	1,332	1,524
Depreciation Expense	417	584	763	799	846	926	976	1,074	1,123	1,264	1,355
Non-Cash Adjustments To Reconcile Net Income	-22	-132	-75	-125	-96	-39	-145	-180	-156	105	-59
Changes in Operating Assets and Liabilities, net	215	202	476	200	635	324	164	-160	-316	317	392
Net Cash From Investing Activities	-757	-2,518	-1,354	-2,254	-2,384	-2,495	-2,807	-2,312	-2,642	-3,558	-3,803
Net Cash From Continuing Investing Activities	-757	-2,518	-1,354	-2,254	-2,384	-2,495	-2,807	-2,312	-2,642	-3,558	-3,803
Purchase of Property, Plant & Equipment	-761	-1,266	-1,424	-1,960	-2,116	-2,261	-2,479	-2,253	-2,315	-2,936	-2,781
Acquisitions	0.00	-1,330	0.00	-226	-301	-268	-365	-120	-382	-429	-992
Purchase of Investments	-13	-8.70	-102	-113	-119	-53	-59	0.00	-46	-64	-46
Divestitures	14	29	166	24	12	38	20	22	69	33	1.70
Other Investing Activities, net	3.60	58	3.00	12	21	49	19	20	31	-163	14
Net Cash From Financing Activities	-406	1,212	-846	161	26	86	601	294	676	523	468
Net Cash From Continuing Financing Activities	-406	1,212	-846	161	26	86	601	294	676	523	468
Repayment of Debt	-231	-386	-554	-161	-973	-992	-1,228	-1,677	-117	-1,026	-3,093
Repurchase of Common Equity	-123	-75	-108	-71	-72	-140	-130	-33	-69	-17	-3.20
Payment of Dividends	-352	-455	-625	-657	-697	-745	-798	-855	-918	-984	-1,084
Issuance of Debt	250	2,150	400	1,019	1,740	1,895	2,714	2,843	1,747	2,544	4,461
Issuance of Common Equity	-	-	-	-	-	-	-	-	0.00	0.00	163
Other Financing Activities, net	50	30	42	31	29	67	44	16	34	6.30	24

This table details how cash moves in and out of WEC Energy Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	66	-54	12	1.30	24	-49	187	58	-319	101	-74
Net Cash From Operating Activities	1.20	796	958	784	480	864	1,037	729	582	1,163	853
Net Cash From Continuing Operating Activities	1.20	796	958	784	480	864	1,037	729	582	1,163	853
Net Income / (Loss) Continuing Operations	252	508	290	316	219	623	210	239	453	726	243
Consolidated Net Income / (Loss)	252	508	290	316	219	623	210	239	453	726	243
Depreciation Expense	285	306	314	320	325	333	337	341	344	360	369
Non-Cash Adjustments To Reconcile Net Income	-97	-12	23	-21	115	-13	-31	-30	15	67	-77
Changes in Operating Assets and Liabilities, net	-439	-5.10	331	169	-178	-79	522	180	-231	10	319
Net Cash From Investing Activities	-657	-1,268	-834	-670	-787	-436	-815	-802	-1,749	-1,102	-871
Net Cash From Continuing Investing Activities	-657	-1,268	-834	-670	-787	-436	-815	-802	-1,749	-1,102	-871
Purchase of Property, Plant & Equipment	-614	-942	-574	-656	-763	-445	-694	-796	-846	-701	-829
Purchase of Investments	-6.10	-6.10	-27	-18	-12	-12	-18	-15	-	-42	-46
Other Investing Activities, net	-1.70	-4.80	-119	99	-139	5.60	-5.20	8.50	5.10	31	3.90
Net Cash From Financing Activities	722	418	-113	-113	330	-477	-36	132	849	40	-57
Net Cash From Continuing Financing Activities	722	418	-113	-113	330	-477	-36	132	849	40	-57
Repayment of Debt	-36	-45	-44	-924	-13	-759	-52	-60	-2,222	-23	-564
Payment of Dividends	-229	-246	-246	-246	-246	-292	-264	-264	-265	-284	-285
Issuance of Debt	987	715	179	1,058	592	553	261	434	3,213	210	508
Issuance of Common Equity	-	0.00	-	-	-	19	19	13	112	117	282
Other Financing Activities, net	0.50	0.90	1.40	0.70	3.30	3.70	1.00	8.70	10	21	3.50

This table presents WEC Energy Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	14,905	29,355	30,123	31,591	33,476	34,952	37,028	38,989	41,872	43,940	47,363
Total Current Assets	1,293	2,207	2,169	2,214	2,248	2,094	2,083	2,657	3,188	2,796	2,912
Cash & Equivalents	62	50	38	39	85	38	25	16	29	43	9.80
Accounts Receivable	643	1,029	1,242	1,351	1,281	1,177	1,203	1,506	1,818	1,503	1,669
Inventories, net	401	687	588	539	548	550	529	636	807	775	813
Prepaid Expenses	148	286	204	210	257	262	263	63	70	77	83
Current Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	182	202	174	215
Other Current Assets	-	156	98	75	77	68	63	253	262	224	122
Plant, Property, & Equipment, net	11,258	19,190	19,916	21,347	22,001	23,620	25,707	26,982	29,114	31,582	34,645
Total Noncurrent Assets	2,355	7,959	8,039	8,030	9,227	9,238	9,238	9,349	9,571	9,563	9,806
Long-Term Investments	457	1,381	1,444	1,553	1,665	1,721	1,764	1,789	1,909	2,006	2,109
Goodwill	442	3,024	3,046	3,054	3,053	3,053	3,053	3,053	3,053	3,053	3,053
Employee Benefit Assets	-	-	-	-	-	-	601	881	917	871	969
Other Noncurrent Operating Assets	1,456	3,554	3,549	3,423	4,509	4,465	3,820	3,626	3,692	3,633	3,676
Total Liabilities & Shareholders' Equity	14,905	29,355	30,123	31,591	33,476	34,952	37,028	38,989	41,872	43,940	47,363
Total Liabilities	7,239	20,670	21,163	22,099	23,633	24,697	26,366	27,875	30,256	31,868	34,561
Total Current Liabilities	1,669	2,709	2,432	3,869	3,332	3,183	4,148	3,753	4,611	5,115	4,842
Short-Term Debt	618	1,253	1,017	2,287	1,805	1,524	2,563	2,066	2,528	3,285	2,846
Accounts Payable	363	815	862	860	876	908	881	1,006	1,198	897	1,137
Other Current Liabilities	169	471	389	554	465	551	705	681	885	933	859
Total Noncurrent Liabilities	6,090	17,961	18,731	18,229	20,301	21,515	22,218	24,122	25,645	26,753	29,719
Long-Term Debt	4,171	9,124	9,158	8,747	9,994	11,211	11,728	13,524	14,766	15,367	17,178
Asset Retirement Reserve & Litigation Obligation	831	2,020	2,197	4,336	4,868	4,582	4,461	4,479	4,714	4,536	4,984
Noncurrent Deferred Revenue	614	579	566	543	520	497	412	389	371	356	335
Noncurrent Deferred & Payable Income Tax Liabilities	-	4,622	5,147	3,000	3,388	3,769	4,060	4,309	4,626	4,919	5,515
Other Noncurrent Operating Liabilities	270	1,072	1,164	1,206	1,108	1,129	1,229	1,203	996	1,576	1,708
Commitments & Contingencies	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	0.00	23	111	162	170	209	317	377
Total Equity & Noncontrolling Interests	33	8,685	8,960	9,492	9,819	10,144	10,500	10,944	11,407	11,755	12,425
Total Preferred & Common Equity	33	8,685	8,960	9,492	9,819	10,144	10,500	10,944	11,407	11,755	12,425
Preferred Stock	30	30	30	30	30	30	30	30	30	30	30
Total Common Equity	2.30	8,655	8,930	9,461	9,789	10,113	10,470	10,913	11,377	11,724	12,395
Common Stock	2.30	4,350	4,313	4,282	4,253	4,190	4,147	4,141	4,118	4,119	4,319
Retained Earnings	-	4,300	4,614	5,177	5,538	5,928	6,330	6,775	7,265	7,613	8,084
Accumulated Other Comprehensive Income / (Loss)	-	4.60	2.90	2.90	-2.60	-4.10	-6.80	-3.20	-6.80	-7.70	-7.80

This table presents WEC Energy Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	41,872	42,796	43,019	43,442	43,940	43,927	44,582	45,197	47,363	48,232	48,524
Total Current Assets	3,188	2,839	2,458	2,444	2,796	2,605	2,584	2,619	2,912	2,943	2,599
Cash & Equivalents	29	36	55	46	43	39	224	323	9.80	82	23
Accounts Receivable	1,818	1,781	1,315	1,243	1,503	1,557	1,243	1,176	1,669	1,812	1,496
Inventories, net	807	524	604	750	775	609	696	790	813	576	703
Prepaid Expenses	70	65	43	41	77	71	53	51	83	76	51
Current Deferred & Refundable Income Taxes	202	153	215	158	174	143	183	125	215	172	209
Other Current Assets	262	281	226	206	224	186	186	156	122	225	116
Plant, Property, & Equipment, net	29,114	30,379	31,010	31,468	31,582	31,730	32,264	32,853	34,645	35,448	36,061
Total Noncurrent Assets	9,571	9,578	9,551	9,531	9,563	9,593	9,734	9,724	9,806	9,841	9,864
Long-Term Investments	1,909	1,922	1,956	1,984	2,006	2,027	2,056	2,081	2,109	2,149	2,200
Goodwill	3,053	3,053	3,053	3,053	3,053	3,053	3,053	3,053	3,053	3,053	3,053
Employee Benefit Assets	917	933	951	919	871	884	901	918	969	984	1,000
Other Noncurrent Operating Assets	3,692	3,670	3,592	3,575	3,633	3,629	3,725	3,673	3,676	3,655	3,611
Total Liabilities & Shareholders' Equity	41,872	42,796	43,019	43,442	43,940	43,927	44,582	45,197	47,363	48,232	48,524
Total Liabilities	30,256	30,839	31,018	31,341	31,868	31,501	32,188	32,805	34,561	34,805	34,854
Total Current Liabilities	4,611	3,766	4,097	4,074	5,115	4,710	3,492	4,009	4,842	5,863	4,698
Short-Term Debt	2,528	2,069	2,468	2,262	3,285	3,215	1,919	2,421	2,846	4,057	3,061
Accounts Payable	1,198	680	749	868	897	641	800	741	1,137	792	817
Other Current Liabilities	885	1,016	881	944	933	854	594	646	859	1,014	820
Total Noncurrent Liabilities	25,645	27,073	26,921	27,268	26,753	26,791	28,696	28,796	29,719	28,942	30,157
Long-Term Debt	14,766	15,827	15,608	15,957	15,367	15,376	16,908	16,889	17,178	16,162	17,110
Asset Retirement Reserve & Litigation Obligation	4,714	4,182	4,692	4,682	4,536	4,557	4,815	4,868	4,984	5,088	5,094
Noncurrent Deferred Revenue	371	367	364	360	356	351	346	340	335	329	324
Noncurrent Deferred & Payable Income Tax Liabilities	4,626	4,703	4,774	4,832	4,919	5,120	5,265	5,322	5,515	5,577	5,740
Other Noncurrent Operating Liabilities	996	1,825	1,484	1,437	1,576	1,388	1,362	1,377	1,708	1,786	1,889
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	209	321	320	317	317	283	281	279	377	421	417
Total Equity & Noncontrolling Interests	11,407	11,637	11,681	11,783	11,755	12,143	12,113	12,112	12,425	13,006	13,254
Total Preferred & Common Equity	11,407	11,637	11,681	11,783	11,755	12,143	12,113	12,112	12,425	13,006	13,254
Preferred Stock	30	-	-	30	30	30	30	30	30	30	30
Total Common Equity	11,377	11,637	11,681	11,753	11,724	12,113	12,083	12,082	12,395	12,976	13,223
Common Stock	4,118	4,117	4,118	4,120	4,119	4,149	4,172	4,195	4,319	4,459	4,746
Retained Earnings	7,265	7,527	7,570	7,640	7,613	7,972	7,919	7,895	8,084	8,524	8,485
Accumulated Other Comprehensive Income / (Loss)	-6.80	-6.90	-6.90	-7.00	-7.70	-7.80	-7.80	-7.90	-7.80	-7.90	-7.90

This table displays calculated financial ratios and metrics derived from WEC Energy Group's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.58%	18.59%	26.09%	2.36%	0.41%	-2.04%	-3.74%	14.83%	15.41%	-7.34%	-3.30%
EBITDA Growth	3.18%	22.72%	33.42%	4.87%	-9.96%	7.36%	7.88%	5.83%	8.66%	5.49%	10.02%
EBIT Growth	2.42%	16.34%	34.63%	4.93%	-16.82%	6.17%	9.30%	3.50%	11.09%	1.59%	11.76%
NOPAT Growth	1.08%	8.16%	42.00%	27.28%	-6.05%	8.98%	3.96%	3.60%	5.38%	5.64%	13.62%
Net Income Growth	1.88%	8.62%	46.84%	28.15%	-11.98%	7.00%	5.88%	8.08%	8.56%	-5.53%	14.46%
EPS Growth	3.19%	-9.65%	0.00%	0.00%	-11.87%	7.19%	5.87%	8.44%	8.27%	-5.17%	14.46%
Operating Cash Flow Growth	-2.70%	7.90%	62.63%	-1.20%	17.65%	-4.09%	-6.37%	-7.44%	1.38%	46.47%	6.41%
Free Cash Flow Firm Growth	-408.04%	-108.56%	120.75%	-93.35%	345.02%	-86.91%	-1,342.76%	50.33%	-105.71%	90.62%	-220.23%
Invested Capital Growth	34.95%	48.20%	0.13%	7.24%	5.07%	6.73%	9.10%	7.48%	8.34%	6.31%	7.09%
Revenue Q/Q Growth	0.81%	11.89%	1.56%	1.22%	0.28%	-1.69%	-0.19%	3.34%	3.86%	-3.69%	0.78%
EBITDA Q/Q Growth	-1.57%	14.70%	-1.58%	3.34%	-4.94%	4.59%	0.52%	-0.07%	2.00%	0.39%	7.96%
EBIT Q/Q Growth	-2.62%	13.34%	-1.62%	3.44%	-8.14%	6.10%	0.06%	-1.48%	2.64%	-1.27%	12.13%
NOPAT Q/Q Growth	-2.89%	9.74%	2.12%	22.75%	-15.15%	3.66%	0.12%	-1.57%	0.93%	0.00%	12.70%
Net Income Q/Q Growth	-3.74%	9.83%	1.60%	24.64%	-17.67%	3.55%	-0.38%	-1.20%	2.06%	-2.47%	18.19%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-1.45%	4.43%	8.38%	-2.30%	4.46%	2.96%	225.29%	-49.59%	-1.19%	18.85%	3.27%
Free Cash Flow Firm Q/Q Growth	-490.21%	58.24%	-80.11%	-83.87%	125.59%	-42.01%	-246.97%	38.24%	3.93%	94.22%	-133.54%
Invested Capital Q/Q Growth	32.52%	-18.39%	1.26%	4.57%	2.22%	2.46%	6.18%	4.94%	4.52%	1.36%	4.09%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	32.52%	33.36%	64.57%	63.09%	62.26%	64.39%	67.97%	60.19%	54.58%	64.12%	69.12%
EBITDA Margin	30.87%	31.94%	33.80%	34.63%	31.05%	34.03%	38.13%	35.14%	33.09%	37.67%	42.86%
Operating Margin	22.25%	21.10%	22.70%	23.22%	19.12%	20.36%	23.56%	20.62%	20.05%	21.46%	25.03%
EBIT Margin	22.52%	22.10%	23.59%	24.19%	20.04%	21.71%	24.66%	22.22%	21.39%	23.45%	27.11%
Profit (Net Income) Margin	11.80%	10.80%	12.58%	15.75%	13.81%	15.08%	16.59%	15.61%	14.69%	14.97%	17.72%
Tax Burden Percent	61.97%	59.61%	62.40%	75.86%	86.20%	90.08%	84.06%	86.64%	81.36%	86.68%	87.29%
Interest Burden Percent	84.51%	82.03%	85.47%	85.87%	79.96%	77.11%	80.05%	81.10%	84.39%	73.66%	74.92%
Effective Tax Rate	38.03%	40.39%	37.60%	24.14%	13.80%	9.92%	15.94%	13.36%	18.64%	13.32%	12.71%
Return on Invested Capital (ROIC)	6.66%	5.05%	6.00%	7.36%	6.52%	6.71%	6.46%	6.18%	6.04%	5.94%	6.33%
ROIC Less NNEP Spread (ROIC-NNEP)	5.44%	4.04%	4.66%	5.79%	4.41%	4.38%	4.48%	4.76%	4.97%	3.93%	4.27%
Return on Net Nonoperating Assets (RNNOA)	20.79%	9.64%	4.66%	5.70%	4.45%	4.58%	5.03%	5.74%	6.37%	5.30%	5.93%
Return on Equity (ROE)	27.44%	14.69%	10.66%	13.06%	10.97%	11.29%	11.49%	11.93%	12.40%	11.24%	12.26%
Cash Return on Invested Capital (CROIC)	-23.10%	-33.79%	5.87%	0.38%	1.58%	0.20%	-2.25%	-1.03%	-1.97%	-0.17%	-0.52%
Operating Return on Assets (OROA)	7.59%	5.92%	5.93%	5.99%	4.73%	4.77%	4.96%	4.86%	5.08%	4.86%	5.11%
Return on Assets (ROA)	3.97%	2.89%	3.16%	3.90%	3.26%	3.32%	3.34%	3.42%	3.49%	3.10%	3.34%
Return on Common Equity (ROCE)	27.06%	14.59%	10.62%	13.02%	10.92%	11.18%	11.30%	11.71%	12.16%	10.97%	11.88%
Return on Equity Simple (ROE_SIMPLE)	1,802.75%	7.37%	10.49%	12.69%	10.80%	11.19%	11.44%	11.87%	12.36%	11.33%	12.27%
Net Operating Profit after Tax (NOPAT)	689	745	1,059	1,347	1,266	1,379	1,434	1,486	1,566	1,654	1,879
NOPAT Margin	13.79%	12.58%	14.17%	17.62%	16.48%	18.34%	19.80%	17.87%	16.31%	18.60%	21.85%
Net Nonoperating Expense Percent (NNEP)	1.21%	1.01%	1.34%	1.57%	2.11%	2.33%	1.98%	1.42%	1.07%	2.02%	2.06%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	5.45%	5.44%	5.79%
Cost of Revenue to Revenue	67.48%	66.64%	35.43%	36.91%	37.74%	35.61%	32.03%	39.81%	45.42%	35.88%	30.88%
SG&A Expenses to Revenue	0.00%	0.00%	29.06%	26.88%	29.57%	29.04%	28.06%	24.12%	20.19%	23.62%	25.09%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	10.27%	12.25%	41.87%	39.87%	43.14%	44.04%	44.41%	39.56%	34.53%	42.66%	44.08%
Earnings before Interest and Taxes (EBIT)	1,126	1,309	1,763	1,850	1,539	1,634	1,786	1,848	2,053	2,086	2,331
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,543	1,893	2,526	2,648	2,385	2,560	2,762	2,922	3,176	3,350	3,686
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3,738.93	1.40	1.61	1.77	1.85	2.45	2.43	2.53	2.39	2.16	2.38
Price to Tangible Book Value (P/TBV)	0.00	2.15	2.44	2.62	2.69	3.51	3.43	3.51	3.27	2.92	3.16
Price to Revenue (P/Rev)	1.72	2.05	1.92	2.19	2.36	3.30	3.51	3.32	2.84	2.85	3.43
Price to Earnings (P/E)	14.62	19.00	15.26	13.94	17.09	21.87	21.18	21.24	19.34	19.02	19.31
Dividend Yield	4.09%	4.54%	4.36%	3.91%	3.85%	3.00%	3.14%	3.10%	4.21%	3.89%	3.58%
Earnings Yield	6.84%	5.26%	6.55%	7.17%	5.85%	4.57%	4.72%	4.71%	5.17%	5.26%	5.18%
Enterprise Value to Invested Capital (EV/IC)	1.08	1.20	1.31	1.39	1.42	1.69	1.65	1.67	1.59	1.47	1.56
Enterprise Value to Revenue (EV/Rev)	2.58	3.56	3.09	3.43	3.67	4.77	5.26	5.00	4.46	4.75	5.56
Enterprise Value to EBITDA (EV/EBITDA)	8.36	11.15	9.13	9.91	11.83	14.03	13.80	14.24	13.49	12.62	12.97
Enterprise Value to EBIT (EV/EBIT)	11.46	16.12	13.08	14.19	18.33	21.99	21.34	22.51	20.86	20.27	20.51
Enterprise Value to NOPAT (EV/NOPAT)	18.72	28.32	21.78	19.49	22.28	26.04	26.58	28.00	27.36	25.56	25.44
Enterprise Value to Operating Cash Flow (EV/OCF)	10.76	16.32	10.96	12.63	11.53	15.31	17.36	20.47	20.78	14.01	14.88
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	22.27	381.15	92.01	894.86	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	146.43	1.19	1.14	1.16	1.20	1.24	1.34	1.40	1.49	1.55	1.56
Long-Term Debt to Equity	127.54	1.05	1.02	0.92	1.02	1.09	1.10	1.22	1.27	1.27	1.34
Financial Leverage	3.82	2.39	1.00	0.98	1.01	1.05	1.12	1.21	1.28	1.35	1.39
Leverage Ratio	6.91	5.08	3.37	3.34	3.37	3.40	3.44	3.49	3.56	3.62	3.67
Compound Leverage Factor	5.84	4.16	2.88	2.87	2.69	2.63	2.75	2.83	3.00	2.67	2.75
Debt to Total Capital	99.32%	54.44%	53.18%	53.76%	54.52%	55.39%	57.27%	58.38%	59.82%	60.71%	61.00%
Short-Term Debt to Total Capital	12.81%	6.57%	5.32%	11.14%	8.34%	6.63%	10.27%	7.74%	8.75%	10.69%	8.67%
Long-Term Debt to Total Capital	86.51%	47.87%	47.86%	42.61%	46.18%	48.77%	47.00%	50.64%	51.07%	50.02%	52.33%
Preferred Equity to Total Capital	0.63%	0.16%	0.16%	0.15%	0.14%	0.13%	0.12%	0.11%	0.11%	0.10%	0.09%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.11%	0.48%	0.65%	0.64%	0.72%	1.03%	1.15%
Common Equity to Total Capital	0.05%	45.40%	46.67%	46.10%	45.23%	43.99%	41.96%	40.87%	39.35%	38.16%	37.76%
Debt to EBITDA	3.10	5.48	4.03	4.17	4.95	4.97	5.18	5.33	5.45	5.57	5.43
Net Debt to EBITDA	2.77	4.73	3.44	3.56	4.21	4.29	4.53	4.72	4.84	4.96	4.86
Long-Term Debt to EBITDA	2.70	4.82	3.63	3.30	4.19	4.38	4.25	4.63	4.65	4.59	4.66
Debt to NOPAT	6.95	13.92	9.61	8.19	9.32	9.23	9.97	10.49	11.05	11.28	10.66
Net Debt to NOPAT	6.19	12.00	8.21	7.01	7.94	7.96	8.72	9.28	9.81	10.04	9.53
Long-Term Debt to NOPAT	6.05	12.24	8.65	6.49	7.90	8.13	8.18	9.10	9.43	9.29	9.14
Altman Z-Score	1.27	0.89	1.05	1.06	1.03	1.17	1.11	1.17	1.13	1.02	1.05
Noncontrolling Interest Sharing Ratio	1.42%	0.70%	0.34%	0.33%	0.44%	0.97%	1.60%	1.80%	1.93%	2.48%	3.03%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.77	0.81	0.89	0.57	0.67	0.66	0.50	0.71	0.69	0.55	0.60
Quick Ratio	0.42	0.40	0.53	0.36	0.41	0.38	0.30	0.41	0.40	0.30	0.35
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2,392	-4,989	1,035	69	307	40	-499	-248	-510	-48	-153
Operating Cash Flow to CapEx	157.50%	102.16%	147.77%	106.08%	115.59%	103.75%	88.59%	90.23%	89.02%	102.82%	115.49%
Free Cash Flow to Firm to Interest Expense	-9.96	-15.05	2.57	0.17	0.69	0.08	-0.94	-0.49	-0.99	-0.07	-0.19
Operating Cash Flow to Interest Expense	4.99	3.90	5.22	5.00	5.49	4.68	4.13	4.01	4.00	4.15	4.05
Operating Cash Flow Less CapEx to Interest Expense	1.82	0.08	1.69	0.29	0.74	0.17	-0.53	-0.43	-0.49	0.11	0.54
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.34	0.27	0.25	0.25	0.24	0.22	0.20	0.22	0.24	0.21	0.19
Accounts Receivable Turnover	9.52	7.09	6.58	5.90	5.84	6.12	6.09	6.14	5.77	5.35	5.42
Inventory Turnover	9.24	7.26	4.15	5.01	5.33	4.88	4.30	5.69	6.04	4.03	3.34
Fixed Asset Turnover	0.45	0.39	0.38	0.37	0.35	0.33	0.29	0.32	0.34	0.29	0.26
Accounts Payable Turnover	9.55	6.70	3.16	3.28	3.34	3.00	2.59	3.51	3.96	3.05	2.61
Days Sales Outstanding (DSO)	38.33	51.49	55.45	61.86	62.54	59.61	59.96	59.44	63.21	68.17	67.32
Days Inventory Outstanding (DIO)	39.51	50.26	87.87	72.84	68.47	74.80	84.85	64.18	60.41	90.49	109.14
Days Payable Outstanding (DPO)	38.21	54.47	115.60	111.29	109.35	121.57	140.74	103.98	92.27	119.79	139.74
Cash Conversion Cycle (CCC)	39.63	47.28	27.72	23.40	21.66	12.84	4.07	19.64	31.35	38.86	36.73
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,897	17,631	17,654	18,933	19,892	21,231	23,164	24,898	26,973	28,675	30,707
Invested Capital Turnover	0.48	0.40	0.42	0.42	0.40	0.37	0.33	0.35	0.37	0.32	0.29
Increase / (Decrease) in Invested Capital	3,081	5,735	23	1,278	959	1,339	1,933	1,734	2,075	1,702	2,032
Enterprise Value (EV)	12,899	21,108	23,058	26,255	28,205	35,919	38,112	41,602	42,829	42,278	47,806
Market Capitalization	8,600	12,132	14,334	16,783	18,102	24,801	25,417	27,618	27,233	25,328	29,494
Book Value per Share	$0.01	$27.42	$28.29	$29.98	$31.02	$32.06	$33.19	$34.60	$36.07	$37.17	$39.18
Tangible Book Value per Share	($1.95)	$17.84	$18.64	$20.31	$21.35	$22.38	$23.51	$24.92	$26.39	$27.49	$29.53
Total Capital	4,821	19,062	19,136	20,525	21,642	22,990	24,953	26,703	28,911	30,724	32,826
Total Debt	4,788	10,377	10,176	11,033	11,799	12,735	14,291	15,590	17,295	18,652	20,024
Total Long-Term Debt	4,171	9,124	9,158	8,747	9,994	11,211	11,728	13,524	14,766	15,367	17,178
Net Debt	4,270	8,946	8,694	9,441	10,049	10,977	12,502	13,784	15,356	16,603	17,905
Capital Expenditures (CapEx)	761	1,266	1,424	1,960	2,116	2,261	2,479	2,253	2,315	2,936	2,781
Debt-free, Cash-free Net Working Capital (DFCFNWC)	180	701	717	592	637	397	473	954	1,076	923	906
Debt-free Net Working Capital (DFNWC)	242	751	755	631	721	435	498	970	1,105	966	915
Net Working Capital (NWC)	-376	-502	-263	-1,656	-1,084	-1,089	-2,065	-1,096	-1,423	-2,319	-1,930
Net Nonoperating Expense (NNE)	100	105	118	142	205	245	233	187	156	322	355
Net Nonoperating Obligations (NNO)	11,864	8,946	8,694	9,441	10,049	10,977	12,502	13,784	15,356	16,603	17,905
Total Depreciation and Amortization (D&A)	417	584	763	799	846	926	976	1,074	1,123	1,264	1,355
Debt-free, Cash-free Net Working Capital to Revenue	3.60%	11.82%	9.60%	7.74%	8.29%	5.28%	6.53%	11.47%	11.21%	10.38%	10.53%
Debt-free Net Working Capital to Revenue	4.83%	12.66%	10.10%	8.25%	9.39%	5.78%	6.87%	11.67%	11.51%	10.86%	10.64%
Net Working Capital to Revenue	-7.52%	-8.47%	-3.52%	-21.65%	-14.12%	-14.48%	-28.52%	-13.18%	-14.83%	-26.08%	-22.44%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.61	$2.36	$2.98	$3.81	$0.00	$3.60	$3.80	$4.12	$4.46	$4.22	$4.83
Adjusted Weighted Average Basic Shares Outstanding	225.60M	271.10M	315.60M	315.60M	315.50M	315.40M	315.40M	315.40M	315.40M	315.40M	316.20M
Adjusted Diluted Earnings per Share	$2.59	$2.34	$2.96	$3.79	$0.00	$3.58	$3.79	$4.11	$4.45	$4.22	$4.83
Adjusted Weighted Average Diluted Shares Outstanding	227.50M	272.70M	316.90M	317.20M	316.90M	316.70M	316.50M	316.30M	316.10M	315.90M	316.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$3.60	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	225.51M	315.65M	315.59M	315.54M	315.46M	315.43M	315.43M	315.43M	315.43M	315.56M	317.75M
Normalized Net Operating Profit after Tax (NOPAT)	689	745	1,059	1,347	1,266	1,379	1,434	1,486	1,566	1,809	1,890
Normalized NOPAT Margin	13.79%	12.58%	14.17%	17.62%	16.48%	18.34%	19.80%	17.87%	16.31%	20.34%	21.97%
Pre Tax Income Margin	19.04%	18.12%	20.16%	20.77%	16.02%	16.74%	19.74%	18.02%	18.05%	17.28%	20.31%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.68	3.95	4.38	4.45	3.46	3.26	3.36	3.64	3.99	2.87	2.94
NOPAT to Interest Expense	2.87	2.25	2.63	3.24	2.84	2.75	2.70	2.93	3.04	2.28	2.37
EBIT Less CapEx to Interest Expense	1.52	0.13	0.84	-0.26	-1.30	-1.25	-1.30	-0.80	-0.51	-1.17	-0.57
NOPAT Less CapEx to Interest Expense	-0.30	-1.57	-0.91	-1.47	-1.91	-1.76	-1.96	-1.51	-1.45	-1.76	-1.14
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	59.71%	71.12%	66.46%	54.49%	65.75%	65.61%	66.42%	65.83%	65.11%	73.91%	71.13%
Augmented Payout Ratio	80.61%	82.79%	77.95%	60.40%	72.58%	77.96%	77.26%	68.38%	70.02%	75.15%	71.34%

This table displays calculated financial ratios and metrics derived from WEC Energy Group's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	16.19%	-0.69%	-14.00%	-2.28%	-13.32%	-7.20%	-3.17%	-4.80%	3.01%	17.51%	13.40%
EBITDA Growth	9.77%	-3.19%	11.29%	15.98%	1.86%	17.26%	-5.78%	-7.90%	38.12%	10.46%	7.86%
EBIT Growth	14.57%	-7.90%	10.65%	17.07%	-6.48%	20.76%	-14.40%	-16.76%	64.97%	11.44%	6.41%
NOPAT Growth	2.97%	-2.28%	8.92%	21.86%	0.78%	22.08%	-16.43%	-14.48%	67.59%	21.34%	23.10%
Net Income Growth	12.69%	-10.63%	0.76%	4.61%	-13.36%	22.66%	-27.59%	-24.40%	107.37%	16.53%	15.71%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-95.38%	-26.07%	39.72%	164.10%	39,900.00%	8.48%	8.27%	-7.03%	21.21%	34.62%	-17.75%
Free Cash Flow Firm Growth	-23.21%	-4,186.89%	-423.22%	-18.71%	21.28%	87.81%	80.82%	58.18%	-8.66%	-368.84%	-303.81%
Invested Capital Growth	8.34%	13.79%	13.49%	9.62%	6.31%	3.78%	3.12%	4.28%	7.09%	8.51%	9.25%
Revenue Q/Q Growth	27.73%	12.89%	-36.64%	6.96%	13.29%	20.87%	-33.89%	5.16%	22.58%	37.88%	-36.20%
EBITDA Q/Q Growth	-2.71%	45.15%	-22.46%	5.92%	-14.55%	67.10%	-37.69%	3.53%	28.14%	33.63%	-39.16%
EBIT Q/Q Growth	-5.42%	71.07%	-33.31%	8.49%	-24.45%	120.89%	-52.72%	5.50%	49.73%	49.22%	-54.86%
NOPAT Q/Q Growth	-5.18%	89.45%	-37.61%	8.73%	-21.58%	129.48%	-57.29%	11.28%	53.67%	66.15%	-56.67%
Net Income Q/Q Growth	-16.41%	101.27%	-42.87%	8.83%	-30.77%	184.94%	-66.27%	13.62%	89.90%	60.12%	-66.51%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-99.60%	66,241.67%	20.36%	-18.17%	-38.78%	79.92%	20.13%	-29.73%	-20.19%	99.83%	-26.60%
Free Cash Flow Firm Q/Q Growth	-0.59%	-58.27%	-6.28%	29.84%	33.30%	77.81%	-67.18%	-52.96%	-73.32%	-5.78%	-43.99%
Invested Capital Q/Q Growth	4.52%	3.42%	0.61%	0.79%	1.36%	0.45%	-0.03%	1.93%	4.09%	2.30%	0.65%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	51.71%	54.65%	70.87%	69.99%	65.68%	65.41%	73.49%	72.05%	67.67%	62.99%	71.61%
EBITDA Margin	27.35%	35.17%	43.03%	42.61%	32.14%	44.43%	41.87%	41.22%	43.10%	41.77%	39.83%
Operating Margin	14.87%	23.17%	23.24%	24.11%	15.40%	30.35%	20.59%	20.59%	25.87%	29.77%	20.15%
EBIT Margin	16.23%	24.59%	25.88%	26.25%	17.51%	31.99%	22.88%	22.95%	28.04%	30.34%	21.47%
Profit (Net Income) Margin	9.86%	17.58%	15.85%	16.12%	9.85%	23.23%	11.85%	12.80%	19.84%	23.04%	12.09%
Tax Burden Percent	81.04%	87.26%	85.67%	83.94%	91.00%	87.65%	83.47%	88.31%	88.12%	92.28%	92.57%
Interest Burden Percent	74.97%	81.92%	71.47%	73.18%	61.85%	82.83%	62.06%	63.18%	80.29%	82.27%	60.85%
Effective Tax Rate	18.96%	12.74%	14.33%	16.06%	9.00%	12.35%	16.53%	11.70%	11.88%	7.72%	7.43%
Return on Invested Capital (ROIC)	4.46%	7.39%	7.00%	6.91%	4.48%	8.13%	5.20%	5.37%	6.60%	8.25%	5.73%
ROIC Less NNEP Spread (ROIC-NNEP)	4.07%	6.86%	6.49%	6.38%	3.90%	7.57%	4.62%	4.77%	6.21%	7.44%	4.97%
Return on Net Nonoperating Assets (RNNOA)	5.22%	8.51%	8.12%	8.20%	5.26%	10.08%	6.18%	6.48%	8.62%	9.94%	6.58%
Return on Equity (ROE)	9.68%	15.90%	15.12%	15.11%	9.74%	18.21%	11.38%	11.85%	15.22%	18.19%	12.31%
Cash Return on Invested Capital (CROIC)	-1.97%	-6.98%	-6.65%	-3.06%	-0.17%	2.57%	2.98%	1.58%	-0.52%	-1.43%	-1.91%
Operating Return on Assets (OROA)	3.85%	5.76%	5.81%	5.76%	3.63%	6.41%	4.51%	4.42%	5.28%	5.97%	4.29%
Return on Assets (ROA)	2.34%	4.12%	3.56%	3.54%	2.04%	4.65%	2.33%	2.47%	3.74%	4.53%	2.42%
Return on Common Equity (ROCE)	9.49%	15.54%	14.80%	14.76%	9.50%	17.74%	11.08%	11.53%	14.76%	17.65%	11.95%
Return on Equity Simple (ROE_SIMPLE)	0.00%	11.60%	11.57%	11.59%	0.00%	11.91%	11.28%	10.65%	0.00%	12.51%	0.00%
Net Operating Profit after Tax (NOPAT)	308	584	364	396	311	713	304	339	521	865	375
NOPAT Margin	12.05%	20.22%	19.91%	20.24%	14.01%	26.60%	17.18%	18.18%	22.80%	27.47%	18.65%
Net Nonoperating Expense Percent (NNEP)	0.38%	0.53%	0.51%	0.53%	0.58%	0.56%	0.58%	0.60%	0.39%	0.81%	0.76%
Return On Investment Capital (ROIC_SIMPLE)	1.07%	-	-	-	1.02%	-	-	-	1.60%	2.60%	1.12%
Cost of Revenue to Revenue	48.29%	45.35%	29.13%	30.01%	34.32%	34.59%	26.51%	27.95%	32.33%	37.01%	28.39%
SG&A Expenses to Revenue	22.68%	18.49%	27.10%	26.39%	24.98%	19.80%	30.10%	30.42%	23.07%	19.30%	29.67%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	36.84%	31.48%	47.63%	45.88%	50.28%	35.06%	52.91%	51.46%	41.80%	33.22%	51.46%
Earnings before Interest and Taxes (EBIT)	415	710	474	514	388	858	405	428	640	956	431
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	700	1,016	788	834	713	1,191	742	768	984	1,316	800
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.39	2.43	2.27	2.08	2.16	2.10	2.03	2.52	2.38	2.67	2.51
Price to Tangible Book Value (P/TBV)	3.27	3.29	3.07	2.81	2.92	2.80	2.72	3.37	3.16	3.49	3.27
Price to Revenue (P/Rev)	2.84	2.95	2.86	2.64	2.85	2.93	2.85	3.56	3.43	3.82	3.57
Price to Earnings (P/E)	19.34	20.93	19.61	17.88	19.02	17.57	17.94	23.53	19.31	21.26	19.99
Dividend Yield	4.21%	4.12%	4.45%	4.90%	3.89%	3.94%	4.16%	3.42%	3.58%	3.12%	3.32%
Earnings Yield	5.17%	4.78%	5.10%	5.59%	5.26%	5.69%	5.57%	4.25%	5.18%	4.70%	5.00%
Enterprise Value to Invested Capital (EV/IC)	1.59	1.60	1.53	1.45	1.47	1.46	1.43	1.61	1.56	1.69	1.63
Enterprise Value to Revenue (EV/Rev)	4.46	4.65	4.62	4.44	4.75	4.86	4.80	5.58	5.56	5.85	5.55
Enterprise Value to EBITDA (EV/EBITDA)	13.49	14.16	13.31	12.27	12.62	11.98	11.90	13.95	12.97	13.93	13.35
Enterprise Value to EBIT (EV/EBIT)	20.86	22.34	21.05	19.39	20.27	18.92	19.13	22.91	20.51	21.85	21.04
Enterprise Value to NOPAT (EV/NOPAT)	27.36	28.68	27.13	24.76	25.56	23.69	24.00	28.56	25.44	26.10	24.61
Enterprise Value to Operating Cash Flow (EV/OCF)	20.78	25.00	20.90	16.13	14.01	13.69	13.08	15.31	14.88	15.12	15.53
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	57.94	48.70	104.32	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.49	1.50	1.51	1.51	1.55	1.50	1.52	1.56	1.56	1.51	1.48
Long-Term Debt to Equity	1.27	1.32	1.30	1.32	1.27	1.24	1.36	1.36	1.34	1.20	1.25
Financial Leverage	1.28	1.24	1.25	1.29	1.35	1.33	1.34	1.36	1.39	1.33	1.32
Leverage Ratio	3.56	3.49	3.52	3.56	3.62	3.56	3.59	3.62	3.67	3.56	3.57
Compound Leverage Factor	2.67	2.86	2.52	2.60	2.24	2.95	2.23	2.29	2.95	2.93	2.17
Debt to Total Capital	59.82%	59.95%	60.10%	60.09%	60.71%	59.94%	60.30%	60.91%	61.00%	60.09%	59.61%
Short-Term Debt to Total Capital	8.75%	6.93%	8.20%	7.46%	10.69%	10.36%	6.15%	7.64%	8.67%	12.06%	9.04%
Long-Term Debt to Total Capital	51.07%	53.02%	51.89%	52.63%	50.02%	49.57%	54.16%	53.28%	52.33%	48.04%	50.56%
Preferred Equity to Total Capital	0.11%	0.00%	0.00%	0.10%	0.10%	0.10%	0.10%	0.10%	0.09%	0.09%	0.09%
Noncontrolling Interests to Total Capital	0.72%	1.07%	1.06%	1.05%	1.03%	0.91%	0.90%	0.88%	1.15%	1.25%	1.23%
Common Equity to Total Capital	39.35%	38.98%	38.84%	38.76%	38.16%	39.05%	38.70%	38.11%	37.76%	38.57%	39.07%
Debt to EBITDA	5.45	5.70	5.61	5.46	5.57	5.27	5.41	5.66	5.43	5.31	5.21
Net Debt to EBITDA	4.84	5.07	4.99	4.85	4.96	4.69	4.76	4.95	4.86	4.72	4.64
Long-Term Debt to EBITDA	4.65	5.04	4.84	4.78	4.59	4.36	4.86	4.95	4.66	4.24	4.42
Debt to NOPAT	11.05	11.53	11.43	11.02	11.28	10.43	10.91	11.58	10.66	9.94	9.61
Net Debt to NOPAT	9.81	10.27	10.16	9.79	10.04	9.27	9.59	10.14	9.53	8.85	8.55
Long-Term Debt to NOPAT	9.43	10.20	9.87	9.65	9.29	8.62	9.80	10.13	9.14	7.95	8.15
Altman Z-Score	1.00	1.05	0.97	0.92	0.89	0.94	0.91	0.98	0.93	1.03	0.99
Noncontrolling Interest Sharing Ratio	1.93%	2.23%	2.09%	2.36%	2.48%	2.60%	2.59%	2.68%	3.03%	2.96%	2.91%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.69	0.75	0.60	0.60	0.55	0.55	0.74	0.65	0.60	0.50	0.55
Quick Ratio	0.40	0.48	0.33	0.32	0.30	0.34	0.42	0.37	0.35	0.32	0.32
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,767	-2,797	-2,972	-2,085	-1,391	-341	-570	-872	-1,512	-1,599	-2,302
Operating Cash Flow to CapEx	0.20%	84.51%	166.85%	119.56%	62.88%	194.29%	149.50%	91.55%	68.74%	165.83%	102.88%
Free Cash Flow to Firm to Interest Expense	-11.76	-16.24	-16.63	-11.43	-7.19	-1.78	-2.84	-4.27	-7.74	-7.17	-10.43
Operating Cash Flow to Interest Expense	0.01	4.62	5.36	4.30	2.48	4.50	5.17	3.57	2.98	5.21	3.86
Operating Cash Flow Less CapEx to Interest Expense	-4.08	-0.85	2.15	0.70	-1.46	2.18	1.71	-0.33	-1.35	2.07	0.11
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.24	0.23	0.22	0.22	0.21	0.20	0.20	0.19	0.19	0.20	0.20
Accounts Receivable Turnover	5.77	5.61	6.72	7.20	5.35	5.20	6.75	7.06	5.42	5.38	6.80
Inventory Turnover	6.04	9.60	6.60	4.38	4.03	4.96	4.23	3.48	3.34	4.89	4.28
Fixed Asset Turnover	0.34	0.33	0.32	0.31	0.29	0.28	0.27	0.27	0.26	0.27	0.27
Accounts Payable Turnover	3.96	6.24	4.25	3.62	3.05	4.25	3.55	3.33	2.61	4.04	3.71
Days Sales Outstanding (DSO)	63.21	65.10	54.34	50.70	68.17	70.13	54.11	51.73	67.32	67.80	53.71
Days Inventory Outstanding (DIO)	60.41	38.00	55.26	83.37	90.49	73.56	86.39	104.91	109.14	74.69	85.22
Days Payable Outstanding (DPO)	92.27	58.50	85.85	100.86	119.79	85.83	102.93	109.58	139.74	90.31	98.48
Cash Conversion Cycle (CCC)	31.35	44.60	23.75	33.21	38.86	57.87	37.56	47.06	36.73	52.18	40.45
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	26,973	27,897	28,067	28,289	28,675	28,951	28,941	29,500	30,707	31,415	31,618
Invested Capital Turnover	0.37	0.37	0.35	0.34	0.32	0.31	0.30	0.30	0.29	0.30	0.31
Increase / (Decrease) in Invested Capital	2,075	3,381	3,337	2,482	1,702	1,054	875	1,211	2,032	2,464	2,677
Enterprise Value (EV)	42,829	44,507	42,897	40,956	42,278	42,249	41,406	47,616	47,806	53,067	51,649
Market Capitalization	27,233	28,247	26,512	24,420	25,328	25,411	24,548	30,401	29,494	34,629	33,254
Book Value per Share	$36.07	$36.89	$37.03	$37.26	$37.17	$38.38	$38.26	$38.22	$39.18	$40.84	$41.43
Tangible Book Value per Share	$26.39	$27.21	$27.35	$27.58	$27.49	$28.71	$28.59	$28.57	$29.53	$31.23	$31.87
Total Capital	28,911	29,854	30,077	30,319	30,724	31,017	31,221	31,701	32,826	33,646	33,841
Total Debt	17,295	17,897	18,076	18,219	18,652	18,591	18,827	19,310	20,024	20,219	20,171
Total Long-Term Debt	14,766	15,827	15,608	15,957	15,367	15,376	16,908	16,889	17,178	16,162	17,110
Net Debt	15,356	15,939	16,066	16,189	16,603	16,525	16,547	16,907	17,905	17,988	17,948
Capital Expenditures (CapEx)	614	942	574	656	763	445	694	796	846	701	829
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,076	1,106	774	586	923	1,071	787	708	906	1,055	939
Debt-free Net Working Capital (DFNWC)	1,105	1,142	829	632	966	1,110	1,011	1,031	915	1,137	962
Net Working Capital (NWC)	-1,423	-927	-1,639	-1,630	-2,319	-2,105	-908	-1,390	-1,930	-2,920	-2,099
Net Nonoperating Expense (NNE)	56	76	74	81	92	90	94	100	68	140	132
Net Nonoperating Obligations (NNO)	15,356	15,939	16,066	16,189	16,603	16,525	16,547	17,109	17,905	17,988	17,948
Total Depreciation and Amortization (D&A)	285	306	314	320	325	333	337	341	344	360	369
Debt-free, Cash-free Net Working Capital to Revenue	11.21%	11.55%	8.34%	6.35%	10.38%	12.33%	9.12%	8.30%	10.53%	11.64%	10.09%
Debt-free Net Working Capital to Revenue	11.51%	11.92%	8.93%	6.85%	10.86%	12.78%	11.72%	12.08%	10.64%	12.54%	10.34%
Net Working Capital to Revenue	-14.83%	-9.68%	-17.67%	-17.65%	-26.08%	-24.24%	-10.52%	-16.29%	-22.44%	-32.19%	-22.55%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	315.40M	315.40M	315.40M	315.40M	315.40M	315.60M	315.90M	316.20M	316.20M	318.20M	320.30M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	316.10M	315.90M	315.90M	315.80M	315.90M	315.90M	316.20M	316.50M	316.50M	319.30M	322.20M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	315.43M	315.43M	315.43M	315.43M	315.56M	315.82M	316.08M	316.35M	317.75M	319.13M	321.87M
Normalized Net Operating Profit after Tax (NOPAT)	308	584	364	396	311	713	304	339	521	865	375
Normalized NOPAT Margin	12.05%	20.22%	19.91%	20.24%	14.01%	26.60%	17.18%	18.18%	22.80%	27.47%	18.65%
Pre Tax Income Margin	12.16%	20.14%	18.50%	19.21%	10.83%	26.50%	14.20%	14.50%	22.51%	24.96%	13.06%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.76	4.12	2.65	2.82	2.01	4.47	2.02	2.09	3.28	4.29	1.95
NOPAT to Interest Expense	2.05	3.39	2.04	2.17	1.61	3.71	1.52	1.66	2.66	3.88	1.70
EBIT Less CapEx to Interest Expense	-1.33	-1.35	-0.56	-0.78	-1.94	2.15	-1.44	-1.81	-1.05	1.14	-1.80
NOPAT Less CapEx to Interest Expense	-2.04	-2.08	-1.17	-1.42	-2.34	1.40	-1.94	-2.24	-1.67	0.74	-2.06
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	65.11%	69.25%	70.37%	70.86%	73.91%	71.18%	76.64%	82.61%	71.13%	66.14%	66.12%
Augmented Payout Ratio	70.02%	73.16%	72.61%	71.71%	75.15%	71.98%	77.39%	83.31%	71.34%	66.30%	66.20%

Key Financial Trends

WEC Energy Group has demonstrated stable financial performance over the last few years through Q2 2025, with steady revenue growth, solid net income, and significant investment in property, plant, and equipment.

Positive Highlights:

Net Income: WEC posted solid net income of $243 million in Q2 2025, with a stable upward trend over previous quarters, reflecting profitability resilience.
Operating Revenue Growth: The company showed increasing quarterly operating revenue from about $1.83 billion in Q2 2023 to nearly $2.01 billion in Q2 2025, indicating consistent top-line growth.
Strong Operating Cash Flow: WEC maintained strong cash flow from operating activities, $853 million in Q2 2025, demonstrating effective business operations converting income into cash.
Continued Capital Investment: The firm invested heavily in property, plant, and equipment, with capex near $829 million in Q2 2025, supporting infrastructure growth and modernization.
Stable Dividend Payments: Cash dividends per share remained steady at $0.8925 in Q2 2025, showcasing commitment to shareholder returns.
Controlled Interest Expense: Despite some increase, interest expense remained consistent relative to total income, suggesting manageable debt costs.
Incremental Issuance of Equity and Debt: Equity and debt issuances in Q2 2025 ($282 million and $508 million respectively) indicate ongoing capital access to fund growth and operations.
Modest Increase in Total Assets: Total assets have grown to $48.5 billion by Q2 2025 from approximately $43 billion in early 2023, signaling asset base expansion.

Neutral Observations:

Working Capital Fluctuations: Variations in accounts receivable and inventories show normal operational cycles without drastic risks.
Stable Common Equity: Common equity rose moderately over time, maintaining a solid equity cushion but not indicating rapid changes in capital structure.

Negative Concerns:

Increasing Debt Levels: Long-term debt increased from around $15.4 billion in early 2023 to $17.1 billion by Q2 2025, which could elevate financial leverage and interest burden risk.
Lower Quarterly Net Income in Recent Quarters: Comparing Q1 and Q2 2025, net income declined notably from $725 million in Q1 to $243 million in Q2, possibly signaling seasonal or operational weaknesses.
Negative Net Change in Cash: WEC experienced a net decrease in cash and equivalents to $23 million by Q2 2025, down from $82 million in Q1, reducing liquidity buffers.
Substantial Capital Expenditures Impacting Free Cash Flow: Heavy investing outflows around $871 million in Q2 2025 might pressure free cash flow availability for other uses.
Declining Operating Income Margin: A drop in operating income in Q2 2025 compared to earlier periods may indicate margin pressures from costs or pricing challenges.

Summary:

Overall, WEC Energy Group shows a stable and growing utility business with solid earnings, revenue growth, and strong capital spending to enhance infrastructure. However, investors should watch the rising debt levels, quarterly earnings volatility, and cash flow impacts from high capital expenditures. The company maintains steady dividends, which is positive for income-focused investors. Continued monitoring of margin trends and liquidity will be important.

08/24/25 01:05 AMAI Generated. May Contain Errors.

Frequently Asked Questions About WEC Energy Group's Financials

When does WEC Energy Group's fiscal year end?

According to the most recent income statement we have on file, WEC Energy Group's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has WEC Energy Group's net income changed over the last 10 years?

WEC Energy Group's net income appears to be on an upward trend, with a most recent value of $1.52 billion in 2024, rising from $589.50 million in 2014. The previous period was $1.33 billion in 2023. Find out what analysts predict for WEC Energy Group in the coming months.

What is WEC Energy Group's operating income?

WEC Energy Group's total operating income in 2024 was $2.15 billion, based on the following breakdown:

Total Gross Profit: $5.94 billion
Total Operating Expenses: $3.79 billion

How has WEC Energy Group's revenue changed over the last 10 years?

Over the last 10 years, WEC Energy Group's total revenue changed from $5.00 billion in 2014 to $8.60 billion in 2024, a change of 72.1%.

How much debt does WEC Energy Group have?

WEC Energy Group's total liabilities were at $34.56 billion at the end of 2024, a 8.5% increase from 2023, and a 377.4% increase since 2014.

How much cash does WEC Energy Group have?

In the past 10 years, WEC Energy Group's cash and equivalents has ranged from $9.80 million in 2024 to $84.50 million in 2018, and is currently $9.80 million as of their latest financial filing in 2024.

How has WEC Energy Group's book value per share changed over the last 10 years?

Over the last 10 years, WEC Energy Group's book value per share changed from 0.01 in 2014 to 39.18 in 2024, a change of 384,024.5%.

Related Companies

This page (NYSE:WEC) was last updated on 8/24/2025 by MarketBeat.com Staff

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