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Ameren vs Wec Energy: revenue, profit, margins and growth compared

Ameren brought in $8.8B of revenue in fiscal 2025, Wec Energy $9.8B in fiscal 2025. Revenue changed by +15.4% at Ameren and +14.0% at Wec Energy on the year before, so Ameren grew faster. Ameren kept 16.5% of its revenue as net profit, Wec Energy 15.9%.

Side by side, latest fiscal year

AEEWEC
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$8.8B$9.8B
Revenue growth+15.4%+14.0%
Net income$1.5B$1.6B
Net margin16.5%15.9%
Free cash flow-$775Mn/a
Free cash flow margin-8.8%n/a
Earnings per share (diluted)$5.35$4.81
Cash$13M$27.6M
Debt$19.4B$20B
Price to earnings18.621.1
Market value$27.5B$33.1B
Dividend yield2.86%3.52%
Rank by revenue in sector#33 of 109 · Utilities#29 of 109 · Utilities

Over the years

Revenue
AEE FY2018: $6.3BAEE FY2019: $5.9BAEE FY2020: $5.8BAEE FY2021: $6.4BAEE FY2022: $8BAEE FY2023: $7.5BAEE FY2024: $7.6BAEE FY2025: $8.8BWEC FY2018: $7.7BWEC FY2019: $7.5BWEC FY2020: $7.2BWEC FY2021: $8.3BWEC FY2022: $9.6BWEC FY2023: $8.9BWEC FY2024: $8.6BWEC FY2025: $9.8BFY18FY19FY20FY21FY22FY23FY24FY25
AEE $8.8BWEC $9.8B
Net income
AEE FY2018: $815MAEE FY2019: $828MAEE FY2020: $871MAEE FY2021: $990MAEE FY2022: $1.1BAEE FY2023: $1.2BAEE FY2024: $1.2BAEE FY2025: $1.5BWEC FY2018: $1.1BWEC FY2019: $1.1BWEC FY2020: $1.2BWEC FY2021: $1.3BWEC FY2022: $1.4BWEC FY2023: $1.3BWEC FY2024: $1.5BWEC FY2025: $1.6BFY18FY19FY20FY21FY22FY23FY24FY25
AEE $1.5BWEC $1.6B
Net margin
AEE FY2018: 13.0%AEE FY2019: 14.0%AEE FY2020: 15.0%AEE FY2021: 15.5%AEE FY2022: 13.5%AEE FY2023: 15.4%AEE FY2024: 15.5%AEE FY2025: 16.5%WEC FY2018: 13.8%WEC FY2019: 15.1%WEC FY2020: 16.6%WEC FY2021: 15.6%WEC FY2022: 14.7%WEC FY2023: 15.0%WEC FY2024: 17.8%WEC FY2025: 15.9%FY18FY19FY20FY21FY22FY23FY24FY25
AEE 16.5%WEC 15.9%
Revenue growth
AEE FY2019: -6.1%AEE FY2020: -2.0%AEE FY2021: +10.4%AEE FY2022: +24.4%AEE FY2023: -5.7%AEE FY2024: +1.6%AEE FY2025: +15.4%WEC FY2019: -2.0%WEC FY2020: -3.7%WEC FY2021: +14.8%WEC FY2022: +15.4%WEC FY2023: -7.3%WEC FY2024: -3.3%WEC FY2025: +14.0%FY19FY20FY21FY22FY23FY24FY25
AEE +15.4%WEC +14.0%
Free cash flow
AEE FY2018: -$116MAEE FY2019: -$241MAEE FY2020: -$1.5BAEE FY2021: -$1.8BAEE FY2022: -$1.1BAEE FY2023: -$1BAEE FY2024: -$1.6BAEE FY2025: -$775MWEC FY2018: $28.4MWEC FY2019: -$183.5MWEC FY2020: -$678.3MWEC FY2021: -$340MWEC FY2022: -$636.2MFY18FY19FY20FY21FY22FY23FY24FY25
AEE -$775MWEC -$636.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Ameren and Wec Energy

Which is bigger by revenue, Ameren or Wec Energy?

Wec Energy is bigger by revenue: $9.8B in fiscal 2025, against $8.8B for Ameren in fiscal 2025.

Which keeps more of its revenue as profit, Ameren or Wec Energy?

Ameren had a net margin of 16.5% in fiscal 2025; Wec Energy had 15.9% in fiscal 2025.

Which grew revenue faster, Ameren or Wec Energy?

In their latest fiscal years revenue changed by +15.4% at Ameren and +14.0% at Wec Energy.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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