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PG&E vs Wec Energy: revenue, profit, margins and growth compared

PG&E brought in $24.9B of revenue in fiscal 2025, Wec Energy $9.8B in fiscal 2025. Revenue changed by +2.1% at PG&E and +14.0% at Wec Energy on the year before, so Wec Energy grew faster. PG&E kept 10.4% of its revenue as net profit, Wec Energy 15.9%.

Side by side, latest fiscal year

PCGWEC
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$24.9B$9.8B
Revenue growth+2.1%+14.0%
Net income$2.6B$1.6B
Net margin10.4%15.9%
Free cash flow-$3.1Bn/a
Free cash flow margin-12.3%n/a
Earnings per share (diluted)$1.18$4.81
Cash$713M$27.6M
Debt$57.4B$20B
Price to earnings10.521.1
Market value$33.1B$33.1B
Dividend yieldn/a3.52%
Rank by revenue in sector#9 of 109 · Utilities#29 of 109 · Utilities

Over the years

Revenue
PCG FY2018: $16.8BPCG FY2019: $17.1BPCG FY2020: $18.5BPCG FY2021: $20.6BPCG FY2022: $21.7BPCG FY2023: $24.4BPCG FY2024: $24.4BPCG FY2025: $24.9BWEC FY2018: $7.7BWEC FY2019: $7.5BWEC FY2020: $7.2BWEC FY2021: $8.3BWEC FY2022: $9.6BWEC FY2023: $8.9BWEC FY2024: $8.6BWEC FY2025: $9.8BFY18FY19FY20FY21FY22FY23FY24FY25
PCG $24.9BWEC $9.8B
Net income
PCG FY2018: -$6.9BPCG FY2019: -$7.7BPCG FY2020: -$1.3BPCG FY2021: -$102MPCG FY2022: $1.8BPCG FY2023: $2.2BPCG FY2024: $2.5BPCG FY2025: $2.6BWEC FY2018: $1.1BWEC FY2019: $1.1BWEC FY2020: $1.2BWEC FY2021: $1.3BWEC FY2022: $1.4BWEC FY2023: $1.3BWEC FY2024: $1.5BWEC FY2025: $1.6BFY18FY19FY20FY21FY22FY23FY24FY25
PCG $2.6BWEC $1.6B
Net margin
PCG FY2018: -40.9%PCG FY2019: -44.7%PCG FY2020: -7.1%PCG FY2021: -0.5%PCG FY2022: 8.3%PCG FY2023: 9.2%PCG FY2024: 10.1%PCG FY2025: 10.4%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
PCG 10.4%WEC 15.9%
Revenue growth
PCG FY2019: +2.2%PCG FY2020: +7.8%PCG FY2021: +11.8%PCG FY2022: +5.0%PCG FY2023: +12.7%PCG FY2024: -0.0%PCG FY2025: +2.1%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
PCG +2.1%WEC +14.0%
Free cash flow
PCG FY2018: -$1.8BPCG FY2019: -$1.5BPCG FY2020: -$26.8BPCG FY2021: -$5.4BPCG FY2022: -$5.9BPCG FY2023: -$5BPCG FY2024: -$2.3BPCG FY2025: -$3.1BWEC FY2018: $28.4MWEC FY2019: -$183.5MWEC FY2020: -$678.3MWEC FY2021: -$340MWEC FY2022: -$636.2MFY18FY19FY20FY21FY22FY23FY24FY25
PCG -$3.1BWEC -$636.2M

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

Questions about PG&E and Wec Energy

Which is bigger by revenue, PG&E or Wec Energy?

PG&E is bigger by revenue: $24.9B in fiscal 2025, against $9.8B for Wec Energy in fiscal 2025.

Which keeps more of its revenue as profit, PG&E or Wec Energy?

PG&E had a net margin of 10.4% in fiscal 2025; Wec Energy had 15.9% in fiscal 2025.

Which grew revenue faster, PG&E or Wec Energy?

In their latest fiscal years revenue changed by +2.1% at PG&E 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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