WEC Energy Group (WEC)
Utilities · $33.7B market cap · SEC CIK 0000783325
fundamentals score out of 100
Next reports on Oct 28, 2026, before the open, with analysts expecting $0.94 in earnings per share.
The case for WEC
- Pays a 3.3% dividend while you wait.
- Moves less than the market (beta 0.44).
The case against
- Long-term debt of $18.5B would take 5 years of operating cash flow to repay.
- Near the bottom of its 52-week range, 14% below the high. Falling prices usually have a reason; find it first.
- Current liabilities exceed current assets (ratio 0.53).
- Growth is weak (36/100): revenue +6.8%, EPS -1.1%, +5.8% a year over five years.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Utilities companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 66 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 36 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 69 |
| Momentumhow the price has behaved lately | 24 |
| Stabilityhow violently it moves, what it owes and what it pays you | 72 |
- Each factor except momentum is half fixed thresholds, half rank among the 31 Utilities companies.
Key numbers
| Price / earnings | 19.9× |
|---|---|
| Price / book | 2.69× |
| Price / sales | 3.5× |
| Revenue growth (YoY) | +6.8% |
| EPS growth (YoY) | -1.1% |
| Gross margin | 36% |
| Operating margin | 24% |
| Net margin | 17% |
| Return on equity | 12% |
| Debt / equity | 1.62× |
| Current ratio | 0.53 |
| Dividend yield | 3.29% |
| Beta | 0.44 |
| 52-week range | $102.86 – $119.91 |
| Position in that range | 0% of the way up |
| 3-month return | -7.7% |
| 1-year return | -6.0% |
Five years of financials, as filed
Pulled from WEC Energy Group's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $9.8B | $8.6B | $8.9B | $9.6B | $8.3B |
| Operating income | $2.2B | $2.2B | $1.9B | $1.9B | $1.7B |
| Operating cash flow | $3.4B | $3.2B | $3.0B | $2.1B | $2.0B |
| Capital expenditure | — | — | — | $2.7B | $2.4B |
| Total assets | $51.5B | $47.4B | $43.9B | $41.9B | $39.0B |
| Cash | $27.6M | $9.8M | $42.9M | $28.9M | $16.3M |
| Long-term debt | $18.5B | $17.2B | $15.4B | $14.7B | $13.5B |
| Free cash flow | — | — | — | -$636M | -$340M |
| Operating margin | 22.9% | 25.0% | 21.5% | 20.0% | 20.6% |
| Diluted shares | 324M | 317M | 316M | 316M | 316M |
Share count is essentially flat over 4 years.
What WEC Energy Group says it does
– E. Regulation. The issuance of securities by our utility companies is subject to the approval of the applicable state commissions or FERC. Additionally, with respect to the public offering of securities, we, WE, and WPS file registration statements with the SEC under the Securities Act of 1933, as amended (1933 Act). The amounts of securities authorized by the appropriate regulatory authorities, as well as the securities registered under the 1933 Act, are closely monitored and appropriate filings are made to ensure flexibility in the capital markets. At December 31, 2025, our current liabilities exceeded our current assets by $2,308.7 million. We do not expect this to have an impact on our liquidity as we currently believe that our cash and cash equivalents, our available capacity under existing revolving credit facilities, cash generated from ongoing operations, and access to the capital markets are adequate to meet our short-term…
Risk factors WEC lists in its 10-K
- Critical Accounting Policies and Estimates
- Pension and Other Postretirement Employee Benefits
- Percentage-Point Change in Assumption
- Impact on Projected Benefit Obligation
- Impact on Postretirement Benefit Obligation
- Opinion on the Financial Statements
- Regulatory Assets and Liabilities - Impact of rate regulation on financial statements — Refer to Notes 6 and 26 to the financial statements
- How the Critical Audit Matter Was Addressed in the Audit
- Opinion on Internal Control over Financial Reporting
- Definition and Limitations of Internal Control over Financial Reporting
- (in millions, except per share amounts)
- Net income attributed to common shareholders
- Weighted average common shares outstanding
- Other comprehensive income (loss), net of tax