WEC ENERGY GROUP, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data WEC ENERGY GROUP, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	7,472	7,649	7,680	7,523	7,242	8,316	9,597	8,893	8,600	9,800
Cost of revenue	2,647	2,823	2,898	2,679	2,320	3,311	4,359	3,191	2,656	3,266
Gross profit	4,825	4,826	4,782	4,844	4,922	5,005	5,239	5,702	5,944	6,534
Operating income	1,696	1,776	1,468	1,531	1,706	1,715	1,924	1,908	2,153	2,245
Interest expense	403	416	445	502	494	471	515	727	815	895
Interest income							1.2	3.9	17.2	5.9
Other non-operating income	-190	-188	-238	-272	-277	-216	-192	-372	-407	-571
Pre-tax income	1,507	1,588	1,230	1,260	1,429	1,499	1,733	1,536	1,746	1,674
Income tax	567	384	170	125	228	200	323	205	222	118
Income from continuing operations	940	1,205	1,061	1,135
Net income to minority interests		0	0	-0.5	0.3	-3	0.4	-1.2	-4.1	-3.2
Net income	939	1,204	1,059	1,134	1,200	1,300	1,408	1,332	1,527	1,558
EBITDA	2,459	2,575	2,314	2,458	2,682	2,789	3,047	3,172	3,507	3,723
EPS, basic	2.98	3.81	3.36	3.60	3.80	4.12	4.46	4.22	4.83	4.84
EPS, diluted	2.96	3.79	3.34	3.58	3.79	4.11	4.45	4.22	4.83	4.81
Shares, basic (weighted)	316	316	316	315	315	315	315	315	316	322
Shares, diluted (weighted)	317	317	317	317	317	316	316	316	317	324
Dividend per share	1.98	2.08	2.21	2.36	2.53	2.71	2.91	3.12	3.34	3.57

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	37.5	38.9	84.5	37.5	24.8	16.3	28.9	42.9	9.8	27.6
Receivables	1,242	1,351	1,281	1,177	1,203	1,506	1,818	1,503	1,669	2,063
Other current assets	97.5	74.9	77.2	68	63.4	253	262	224	122	120
Total current assets	2,169	2,214	2,248	2,094	2,083	2,657	3,188	2,796	2,912	3,285
Property, plant and equipment	19,916	21,347	22,001	23,620	25,707	26,982	29,114	31,582	34,645	38,278
Lease right-of-use assets				41.4	20.7	19.5	15.7	32	32.1	69.5
Goodwill	3,046	3,054	3,053	3,053	3,053	3,053	3,053	3,053	3,053	3,053
Intangible assets										17.4
Other non-current assets	461	620	704	958	296	361	427	383	336	384
Total assets	30,123	31,591	33,476	34,952	37,028	38,989	41,872	43,940	47,363	51,518
Accounts payable	862	860	876	908	881	1,006	1,198	897	1,137	1,140
Accrued liabilities	164	169	185	200	174
Deferred revenue						140		236
Short-term debt	157	842	360	687	778	91	809	1,264	1,729	1,519
Total current liabilities	2,432	3,869	3,332	3,183	4,148	3,753	4,611	5,115	4,842	5,593
Long-term debt	9,158	8,747	9,976	11,171	11,673	13,472	14,656	15,367	17,178	18,498
Lease liabilities				37		29.1	25.4	38.8	37.5	73
Other non-current liabilities	1,164	1,206	1,108	1,129	1,229	1,203	661	835	838	963
Total liabilities	21,163	22,099	23,633	24,697	26,366	27,875	30,256	31,868	34,561	37,466
Total debt	9,315	8,747	10,336	11,858	12,451	13,563	15,464	16,631	18,907	20,018
Paid-in capital	4,310	4,279	4,250	4,187	4,144	4,138	4,115	4,116	4,316	5,124
Retained earnings	4,614	5,177	5,538	5,928	6,330	6,775	7,265	7,613	8,084	8,494
Other comprehensive income	2.9	2.9	-2.6	-4.1	-6.8	-3.2	-6.8	-7.7	-7.8	-7.6
Shareholders' equity	8,960	9,492
Total equity	8,960	9,492	9,843	10,255	10,663	11,113	11,617	12,072	12,802	14,053
Total liabilities and equity	30,123	31,591	33,476	34,952	37,028	38,989	41,872	43,940	47,363	51,518
Shares outstanding	316	316	316	315	315	315	315	315	318	325

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	939	1,205	1,061	1,135	1,201	1,299	1,410	1,332	1,524	1,556
Depreciation and amortization	763	799	846	926	976	1,074	1,123	1,264	1,355	1,479
Stock-based compensation	18	29	36.1	50.2	35.7	15.7	34.8	9.7	39.3	48.2
Deferred income tax	499	274	300	168	182	111	279	230	539	369
Change in inventory	100	49.3	-8.8	-1.5	21.2	-107	-171	41.9	-38	9.8
Change in payables	34.4	8.5	111	1.5	-61.3	127	122	-254	99.7	46.4
Cash from operations	2,104	2,079	2,446	2,346	2,196	2,033	2,061	3,018	3,212	3,379
Capital expenditures	-1,424	-1,960	-2,417	-2,529	-2,874	-2,373	-2,697
Acquisitions	0	-226	0	0	-365	0
Purchases of investments	-59.2	-3.7
Cash from investing	-1,354	-2,254	-2,384	-2,495	-2,807	-2,312	-2,642	-3,558	-3,803	-4,875
Debt issued	400	435	1,740	1,895	2,374	2,384	1,999	2,170	4,461	2,845
Debt repaid	-306	-155	-953	-360	-1,767	-1,260	-92.1	-1,005	-2,138	-1,729
Stock issued	41.6	30.8	29.1	67	43.8	15.7	0	0	163	762
Share buybacks	-108	-71.3	-72.4	-140	-99.2	-33.1	-69.2	-16.6	-3.2	-1.3
Dividends paid	-625	-657	-697	-745	-798	-855	-918	-984	-1,056	-1,148
Cash from financing	-846	161	26.4	85.6	601	294	676	523	468	1,524
Net change in cash	-96.1	-14.1	87.5	-63.8	-9.7	14.9	94.7	-17	-123	28.7
Free cash flow	680	119	28.4	-184	-678	-340	-636
Interest paid	412	414	442	486	493	474	485	653	786	859
Income taxes paid	-39.7	5.2	16.3	-24.9	27.9	33.8	52.4	-58.9	-264	-281

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $101.45 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	65.7%	Gross profit / revenue.
Operating margin	22.8%	Operating income / revenue.
EBITDA margin	37.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	17.9%	Pre-tax income / revenue.
Net margin	16.7%	Net income / revenue.
Operating cash flow margin	35.3%	Cash from operations / revenue.
Effective tax rate	6.5%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	3.2%	Net income / average total assets.
D&A / revenue	14.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	14.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	0.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	9.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	7.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	5.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	4.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	5.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	5.6%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	6.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	6.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	6.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	2.0%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	3.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	5.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-0.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	2.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	4.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	5.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	17.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	9.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	6.9%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	7.1%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	7.1%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	8.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	7.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	6.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	2.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.53x	Current assets / current liabilities.
Quick ratio	0.30x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.01x	(Cash + short-term investments) / current liabilities.
Debt / assets	39.1%	Total debt / total assets.
Liabilities / assets	72.4%	Total liabilities / total assets.
Net debt	$20.58B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	5.37x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	-$2.43B	Current assets - current liabilities.
Goodwill and intangibles / assets	5.8%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.19x	Revenue / average total assets.
Fixed asset turnover	0.25x	Revenue / average property, plant and equipment.
Receivables turnover	6.63x	Revenue / average receivables.
Days sales outstanding	55 days	365 x average receivables / revenue.
Days payables	107 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$5.14	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$30.82	Revenue / diluted weighted shares.
Operating cash flow per share	$10.87	Cash from operations / diluted weighted shares.
Cash per share	$0.15	(Cash + short-term investments) / shares outstanding.
Payout ratio	70.9%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$33.06B	Share price x shares outstanding.
Enterprise value	$53.64B	Market cap + total debt - cash - short-term investments.
P/E	19.5x	Market cap / net income. Only when net income is positive.
P/S	3.26x	Market cap / revenue.
P/OCF	9.25x	Market cap / cash from operations, when positive.
EV/Sales	5.29x	Enterprise value / revenue.
EV/EBIT	23.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	14.0x	Enterprise value / EBITDA, when both are positive.
Earnings yield	5.1%	Net income / market cap (the inverse of P/E).
Dividend yield	3.6%	Dividends paid over the period / market cap.
Shareholder yield	3.6%	(Dividends paid + share buybacks) / market cap.
PEG	7.44x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was WEC ENERGY GROUP, INC.'s revenue in fiscal 2025?

WEC ENERGY GROUP, INC. reported revenue of $9.80B for fiscal 2025, 14% higher than the year before.

Was WEC ENERGY GROUP, INC. profitable in fiscal 2025?

Yes. Net income was $1.56B, a net margin of 15.9%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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