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

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

20 accounts · 5 years

Total assets $51.5B

Total liabilities Not reported

Shareholders equity Not reported

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	0.3%	0.1%	0.5%	0.3%	0.2%
Accounts Receivable	21.0%	19.4%	16.9%	18.9%	18.1%
Other Current Assets	12.2%	14.3%	14.1%	14.0%	13.6%
Total Current Assets	33.5%	33.9%	31.4%	33.2%	31.9%
Property,Plant and Equipment	390.6%	402.9%	355.1%	303.4%	324.5%
Regulatory Assets	32.2%	38.8%	36.5%	34.0%	39.3%
Other Noncurrent Assets	69.4%	75.2%	71.0%	65.7%	73.2%
Total Assets	525.7%	550.7%	494.1%	436.3%	468.8%
Liabilities
Current Portion of Long Term Debt	35.1%	33.1%	36.9%	26.3%	24.8%
Other Current Liabilities	21.9%	23.2%	20.6%	21.7%	20.3%
Total Current Liabilities	57.1%	56.3%	57.5%	48.0%	45.1%
Long Term Debt	188.8%	199.7%	172.8%	153.9%	162.6%
Regulatory Liabilities	42.1%	46.0%	41.6%	38.9%	47.5%
Other Noncurrent Liabilities	98.6%	104.2%	90.0%	76.6%	82.0%
Equity
Preferred Stock	0.3%	0.4%	0.3%	0.3%	0.4%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	52.3%	50.2%	46.3%	42.9%	49.8%
Retained Earnings	86.7%	94.0%	85.6%	75.7%	81.5%
Accumulated Other Comprehensive Income	-0.1%	-0.1%	-0.1%	-0.1%	-0.0%
Total Liabilitiesand Equity	525.7%	550.7%	494.1%	436.3%	468.8%

Income Statement

Revenue, expense, and profitability

15 accounts · 5 years

Revenue $9.8B

Operating income $2.2B

Net income $1.6B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	33.3%	30.9%	35.9%	45.4%	39.8%
Expenses Selling,General and Administrative	24.5%	25.1%	23.6%	20.2%	24.1%
Expenses Depreciation and Amortization	15.1%	15.8%	14.2%	11.7%	12.9%
Expenses Other Operating Expenses	4.2%	3.2%	4.8%	2.6%	2.5%
Other Income Expense Operating Income	22.9%	25.0%	21.5%	20.0%	20.6%
Other Income Expense Interest Expense	9.1%	9.5%	8.2%	5.4%	5.7%
Other Income Expense Other Income/expense	3.3%	4.8%	4.0%	3.4%	3.1%
Other Income Expense Income Before Tax	17.1%	20.3%	17.3%	18.1%	18.0%
Income Tax Income Tax Expense	1.2%	2.6%	2.3%	3.4%	2.4%
net Income Other Items Below Tax	0.0%	0.0%	0.0%	-0.0%	0.0%
net Income net Income	15.9%	17.7%	15.0%	14.7%	15.6%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	3.3%	3.7%	3.6%	3.3%	3.8%

Cash Flow Statement

Operating, investing, and financing flows

14 accounts · 5 years

Operating cash flow $3.4B

Investing cash flow $-4.9B

Financing cash flow $1.5B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Cash From Operating Activities	34.5%	37.3%	33.9%	21.5%	24.4%
Operating Activities net Income	15.9%	17.7%	15.0%	14.7%	15.6%
Operating Activities Depreciation and Amortization	15.1%	15.8%	14.2%	11.7%	12.9%
Operating Activities Other Non Cash Items	3.5%	3.9%	4.8%	-4.9%	-4.1%
Investing Activities Capital Expenditures	-49.0%	-37.4%	-29.6%	-28.1%	-27.1%
Investing Activities Other Investing Activities	-0.7%	-6.8%	-10.4%	0.6%	-0.7%
Investing Activities net Cash From Investing Activities	-49.7%	-44.2%	-40.0%	-27.5%	-27.8%
Financing Activities Proceeds From Debt	29.0%	51.9%	24.4%	20.8%	28.7%
Financing Activities Repayment of Debt	-17.6%	-24.9%	-11.3%	-1.0%	-19.2%
Financing Activities Dividends Paid	-11.7%	-12.3%	-11.1%	-9.6%	-10.3%
Financing Activities Repurchase of Common Stock	-0.0%	-0.0%	-0.2%	-0.7%	-0.4%
Financing Activities Other Financing Activities	15.9%	-9.3%	4.0%	-2.5%	4.8%
Financing Activities net Cash From Financing Activities	15.6%	5.4%	5.9%	7.0%	3.5%
Cash Reconciliation net Change In Cash	0.3%	-1.4%	-0.2%	1.0%	0.2%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+66.7%	+69.1%	+64.1%	+54.6%	+60.2%
Operating margin	+22.9%	+25.0%	+21.5%	+20.0%	+20.6%
Net margin	+15.9%	+17.7%	+15.0%	+14.7%	+15.6%
FCF margin	-14.5%	-0.0%	+4.3%	-6.6%	-2.6%
Growth
Revenue CAGR (3y)	+0.7%	+1.1%	+7.1%	+8.5%	+2.7%
Returns
ROE	—	—	—	—	—
ROA	+3.0%	+3.2%	+3.0%	+3.4%	+3.3%
ROIC	—	—	—	—	—
Liquidity
Current ratio	0.59x	0.60x	0.55x	0.69x	0.71x
Quick ratio	0.37x	0.35x	0.30x	0.40x	0.41x
Leverage
D/E	—	—	—	—	—
Interest coverage	2.51x	2.64x	2.62x	3.74x	3.64x
Efficiency
Asset turnover	0.19x	0.18x	0.20x	0.23x	0.21x
Cash conversion cycle	—	—	—	—	—

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WEC Energy Group

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