WEC Energy Group

Utilities Electric Utilities Milwaukee, Wisconsin Last filing Feb 20, 2026 · FY2025

                    Revenue
                    FY2025
                
$9.8B
                    3y CAGR +0.7%
                    
                    P37
                    
                    +14.0%
                    
                    Net income
                    FY2025
                
$1.6B
                    Net margin +15.9%
                    
                    P70
                    
                    +2.0%
                    
                    Total assets
                    FY2025
                
$51.5B
                    ROA +3.0%
                    
                    P74
                    
                    +8.8%
                    
                    Operating cash flow
                    FY2025
                
$3.4B
                    FCF margin -14.5%
                    
                    P41
                    
                    +5.2%

19 yrs · FY2007–FY2025 7 filed · 0 derived · 2 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

20 accounts · 10 years

Total assets $51.5B

Total liabilities Not reported

Shareholders equity Not reported

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	-3.3%	-15.4%	+1.9%	-4.2%	-15.3%	-9.8%	+0.0%	+50.1%	+3.7%	—
Accounts Receivable	+5.8%	+3.8%	+2.8%	+6.6%	+3.9%	-0.8%	-1.8%	+1.6%	+8.8%	—
Other Current Assets	+3.3%	+4.2%	+5.0%	+7.1%	+5.0%	-1.0%	-0.4%	-0.4%	-7.4%	—
Total Current Assets	+4.7%	+3.8%	+3.7%	+6.6%	+4.1%	-1.0%	-1.2%	+1.8%	+2.1%	—
Property,Plant and Equipment	+7.5%	+7.2%	+6.8%	+6.5%	+6.3%	+6.6%	+5.9%	+5.1%	+7.2%	—
Regulatory Assets	+0.2%	+1.0%	+0.7%	+0.9%	+1.1%	+3.4%	+4.3%	+11.0%	-9.2%	—
Other Noncurrent Assets	+3.6%	+3.4%	+3.5%	+4.1%	+4.2%	+3.6%	+5.0%	+4.6%	+5.6%	—
Total Assets	+6.1%	+5.8%	+5.5%	+5.6%	+5.3%	+5.3%	+5.1%	+5.4%	+4.9%	—
Liabilities
Current Portion of Long Term Debt	+14.5%	+13.7%	+18.2%	+16.4%	+15.2%	+26.0%	+14.4%	+33.2%	+124.8%	—
Other Current Liabilities	+4.8%	+4.4%	+3.7%	+6.7%	+3.6%	+2.9%	+5.5%	+3.9%	+11.9%	—
Total Current Liabilities	+9.7%	+9.0%	+11.2%	+11.3%	+9.1%	+14.3%	+9.4%	+17.1%	+59.1%	—
Long Term Debt	+8.1%	+8.2%	+7.7%	+8.3%	+8.1%	+6.4%	+7.0%	+4.5%	-4.5%	—
Regulatory Liabilities	+11.4%	+12.3%	+13.1%	+15.6%	+20.3%	+25.9%	+36.7%	+64.9%	+137.8%	—
Other Noncurrent Liabilities	+2.1%	+1.4%	-0.0%	-1.4%	-3.2%	-4.3%	-7.1%	-12.9%	-28.0%	—
Equity
Preferred Stock	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	—
Common Stock	+0.3%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	—
Additional Paid In Capital	+1.9%	+0.0%	-0.7%	-0.8%	-0.8%	-1.0%	-1.0%	-0.7%	-0.7%	—
Retained Earnings	+7.0%	+7.3%	+7.4%	+7.9%	+8.0%	+8.2%	+8.7%	+9.6%	+12.2%	—
Accumulated Other Comprehensive Income	—	—	—	—	—	—	—	—	+0.0%	—
Total Liabilitiesand Equity	+6.1%	+5.8%	+5.5%	+5.6%	+5.3%	+5.3%	+5.1%	+5.4%	+4.9%	—

Income Statement

Revenue, expense, and profitability

15 accounts · 10 years

Revenue $9.8B

Operating income $2.2B

Net income $1.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+3.1%	+1.8%	+2.5%	+4.3%	+2.2%	-0.8%	+0.2%	+1.4%	+2.4%	—
Expenses Cost of Revenue	+2.4%	+0.0%	+2.7%	+8.7%	+4.6%	-3.3%	+0.4%	+4.6%	+6.6%	—
Expenses Selling,General and Administrative	+1.1%	-0.1%	-0.5%	-1.9%	-1.6%	-1.6%	+0.2%	+2.3%	-5.3%	—
Expenses Depreciation and Amortization	+7.6%	+7.4%	+7.5%	+6.7%	+7.1%	+6.4%	+6.7%	+5.3%	+4.7%	—
Expenses Other Operating Expenses	+8.6%	+4.6%	+12.0%	+4.5%	+1.6%	+1.7%	+1.2%	+0.6%	+0.1%	—
Other Income Expense Operating Income	+3.2%	+3.0%	+1.7%	+2.1%	+0.2%	+0.1%	-3.4%	-7.0%	+4.7%	—
Other Income Expense Interest Expense	+9.3%	+9.2%	+8.8%	+4.2%	+3.2%	+5.2%	+7.6%	+5.1%	+3.2%	—
Other Income Expense Other Income/expense	+4.8%	+8.5%	+7.6%	+7.2%	+3.7%	+0.4%	+2.5%	-1.4%	+7.0%	—
Other Income Expense Income Before Tax	+1.2%	+1.9%	+0.3%	+2.4%	-0.1%	-1.3%	-5.8%	-9.6%	+5.4%	—
Income Tax Income Tax Expense	-16.0%	-11.1%	-13.5%	-8.9%	-18.8%	-20.4%	-39.6%	-45.3%	-32.3%	—
net Income Other Items Below Tax	—	—	—	—	—	—	—	—	—	—
net Income net Income	+5.8%	+6.2%	+5.1%	+7.0%	+6.7%	+6.4%	+6.5%	+6.3%	+28.3%	—
Earnings Per Share Basic Eps	+5.5%	+6.2%	+5.1%	+7.0%	+6.7%	+6.3%	+6.5%	+6.2%	+27.9%	—
Earnings Per Share Diluted Eps	+5.5%	+6.3%	+5.2%	+7.0%	+6.8%	+6.4%	+6.5%	+6.2%	+28.0%	—
Earnings Per Share Weighted Average Shares Diluted	+0.2%	-0.0%	-0.0%	-0.0%	-0.0%	-0.0%	-0.0%	+0.0%	+0.1%	—

Cash Flow Statement

Operating, investing, and financing flows

14 accounts · 10 years

Operating cash flow $3.4B

Investing cash flow $-4.9B

Financing cash flow $1.5B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Cash From Operating Activities	+5.4%	+5.4%	+5.3%	-0.3%	-0.7%	+1.1%	+3.7%	+7.8%	-1.2%	—
Operating Activities net Income	+5.8%	+6.2%	+5.1%	+7.0%	+6.7%	+6.3%	+6.5%	+6.2%	+28.2%	—
Operating Activities Depreciation and Amortization	—	—	—	—	—	—	—	—	—	—
Operating Activities Other Non Cash Items	-1.6%	-2.3%	+0.7%	—	—	-53.5%	-10.8%	+16.0%	-81.3%	—
Investing Activities Capital Expenditures	—	—	—	—	—	—	—	—	—	—
Investing Activities Other Investing Activities	—	—	—	-4.0%	—	—	—	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities Proceeds From Debt	+24.4%	+35.2%	+27.3%	+30.8%	+42.9%	+61.4%	+68.0%	+108.6%	+8.7%	—
Financing Activities Repayment of Debt	—	—	—	—	—	—	—	—	—	—
Financing Activities Dividends Paid	—	—	—	—	—	—	—	—	—	—
Financing Activities Repurchase of Common Stock	—	—	—	—	—	—	—	—	—	—
Financing Activities Other Financing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	—	—	—	—	—	—	—	—	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+66.7%	+69.1%	+64.1%	+54.6%	+60.2%	+68.0%	+64.4%	+62.3%	+63.1%	+64.6%
Operating margin	+22.9%	+25.0%	+21.5%	+20.0%	+20.6%	+23.6%	+20.4%	+19.1%	+23.2%	+22.7%
Net margin	+15.9%	+17.7%	+15.0%	+14.7%	+15.6%	+16.6%	+15.1%	+13.8%	+15.8%	+12.6%
FCF margin	-14.5%	-0.0%	+4.3%	-6.6%	-2.6%	-0.6%	+1.1%	+4.3%	+1.6%	+9.1%
Growth
Revenue CAGR (3y)	+0.7%	+1.1%	+7.1%	+8.5%	+2.7%	-1.8%	+0.2%	+9.0%	+15.2%	—
Returns
ROE	—	—	—	—	—	—	—	—	—	—
ROA	+3.0%	+3.2%	+3.0%	+3.4%	+3.3%	+3.2%	+3.2%	+3.2%	+3.8%	+3.1%
ROIC	—	—	—	—	—	—	—	—	—	—
Liquidity
Current ratio	0.59x	0.60x	0.55x	0.69x	0.71x	0.50x	0.66x	0.67x	0.57x	0.89x
Quick ratio	0.37x	0.35x	0.30x	0.40x	0.41x	0.30x	0.38x	0.41x	0.36x	0.53x
Leverage
D/E	—	—	—	—	—	—	—	—	—	—
Interest coverage	2.51x	2.64x	2.62x	3.74x	3.64x	3.46x	3.05x	3.30x	4.27x	4.21x
Efficiency
Asset turnover	0.19x	0.18x	0.20x	0.23x	0.21x	0.20x	0.22x	0.23x	0.24x	0.25x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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WEC Energy Group

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