WEC Energy Group

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

                    Revenue
                    FY2025
                
$9.8B
                    3y CAGR +0.7%
                    
                    P35
                    
                    +14.0%
                    
                    Net income
                    FY2025
                
$1.6B
                    Net margin +15.9%
                    
                    P71
                    
                    +2.0%
                    
                    Total assets
                    FY2025
                
$51.5B
                    ROA +3.0%
                    
                    P74
                    
                    +8.8%
                    
                    Operating cash flow
                    FY2025
                
$3.4B
                    FCF margin -10.4%
                    
                    P54
                    
                    +5.2%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 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

30 accounts · 5 years

Total assets $51.5B

Total liabilities $5.6B

Shareholders equity $14.1B

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%
Prepaid Expenses	1.2%	1.4%	2.5%	2.7%	3.0%
Other Current Assets	1.2%	1.4%	2.5%	2.7%	3.0%
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%
Goodwill	31.2%	35.5%	34.3%	31.8%	36.7%
Intangible Assets	0.5%	—	0.3%	0.3%	—
Other Noncurrent Assets	3.9%	3.9%	4.3%	4.5%	4.3%
Total Assets	525.7%	550.7%	494.1%	436.3%	468.8%
Liabilities
Accounts Payable	11.6%	13.2%	10.1%	12.5%	12.1%
Accrued Liabilities	10.3%	10.0%	10.5%	9.2%	8.2%
Deferred Revenue	3.2%	3.9%	4.0%	3.9%	4.7%
Current Portion of Long Term Debt	15.5%	20.1%	14.2%	8.4%	1.1%
Other Current Liabilities	10.3%	10.0%	10.5%	9.2%	8.2%
Total Current Liabilities	57.1%	56.3%	57.5%	48.0%	45.1%
Long Term Debt	188.8%	199.7%	172.8%	152.7%	162.0%
Deferred Revenue Noncurrent	3.2%	3.9%	4.0%	3.9%	4.7%
Operating Lease Liabilities Noncurrent	3.8%	0.4%	0.4%	0.3%	0.3%
Deferred Tax Liabilities	60.1%	73.8%	64.8%	57.8%	62.4%
Other Noncurrent Liabilities	9.8%	9.7%	7.4%	15.4%	14.5%
Total Liabilities	57.1%	56.3%	57.5%	48.0%	45.1%
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%
Noncontrolling Interest	4.2%	4.4%	3.6%	2.2%	2.0%
Total Stockholders Equity	143.4%	148.9%	135.7%	121.0%	133.6%
Total Liabilitiesand Equity	525.7%	550.7%	494.1%	436.3%	468.8%

Income Statement

Revenue, expense, and profitability

17 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 Depreciation and Amortization	15.1%	15.8%	14.2%	11.7%	12.9%
Expenses Share Based Compensation	0.5%	0.5%	0.1%	0.4%	0.2%
Expenses Operating Expenses	77.1%	75.0%	78.5%	80.0%	79.4%
Other Income Expense Operating Income	22.9%	25.0%	21.5%	20.0%	20.6%
Other Income Expense Interest Income	0.1%	0.2%	0.0%	0.0%	—
Other Income Expense Interest Expense	9.1%	9.5%	8.2%	5.4%	5.7%
Other Income Expense Other Income/expense	1.1%	2.1%	2.0%	1.3%	1.6%
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 net Income	15.9%	17.7%	15.0%	14.7%	15.6%
net Income Comprehensive Income	15.9%	17.8%	15.0%	14.6%	15.7%
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 Basic	3.3%	3.7%	3.5%	3.3%	3.8%
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

20 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 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 Stock Based Compensation	0.5%	0.5%	0.1%	0.4%	0.2%
Operating Activities Changes In Operating Assets and Liabilities	0.4%	1.6%	-3.3%	3.1%	2.8%
Operating Activities Other Non Cash Items	1.0%	-0.7%	-1.8%	-1.8%	-1.1%
Operating Activities net Cash From Operating Activities	34.5%	37.3%	33.9%	21.5%	24.4%
Investing Activities Capital Expenditures	44.9%	32.3%	28.0%	28.1%	28.5%
Investing Activities Other Investing Activities	-0.3%	-0.1%	-0.1%	0.1%	-0.3%
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%	15.2%
Financing Activities Repurchase of Common Stock	0.0%	0.0%	0.2%	0.7%	0.4%
Financing Activities Dividends Paid	11.7%	12.3%	11.1%	9.6%	10.3%
Financing Activities Proceeds From Stock Issuance	0.4%	0.3%	0.1%	0.4%	0.2%
Financing Activities Other Financing Activities	-0.1%	-0.1%	-0.1%	-0.1%	-0.1%
Financing Activities net Cash From Financing Activities	15.6%	5.4%	5.9%	7.0%	3.5%
Cash Reconciliation Effect of Exchange Rate On Cash	0.7%	0.5%	1.9%	1.9%	1.1%
Cash Reconciliation net Change In Cash	0.3%	-1.4%	-0.2%	1.0%	0.2%
Cash Reconciliation Cash At Beginning of Period	0.7%	0.5%	1.9%	1.9%	1.1%
Cash Reconciliation Cash At End of Period	0.7%	0.5%	1.9%	1.9%	1.1%

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	-10.4%	+5.0%	+5.9%	-6.6%	-4.1%
Growth
Revenue CAGR (3y)	+0.7%	+1.1%	+7.1%	+8.5%	+2.7%
Returns
ROE	+11.1%	+11.9%	+11.0%	+12.1%	+11.7%
ROA	+3.0%	+3.2%	+3.0%	+3.4%	+3.3%
ROIC	+6.1%	+5.9%	+5.8%	+5.8%	+6.0%
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	0.40x	0.38x	0.42x	0.40x	0.34x
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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FY2025 fundamentals · no price

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WEC Energy Group

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