WEC Financials WEC Energy Group

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 28 h ago Overview →

Growth & profitability

Revenue has grown 6.2% per year over the past 5 years.
Net income has grown slower than revenue (5.3% vs 6.2% per year).
Operating margin has been roughly flat, at 22.9% in the latest year.

Financial health

Total debt ($21.9B) exceeds cash ($28M); net debt is $21.9B.
Total debt has grown in line with revenue (9.1% vs 6.2% per year).
Operating income covered interest expense 2.5× in the latest year.
Total debt is 5.9× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 73.8% of earnings.
The dividend has grown 7.5% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
2025	$9.8B	$1.6B	66.7%	22.9%	—	$21.9B	$28M
2024	$8.6B	$1.5B	69.1%	25.0%	—	$20.0B	$10M
2023	$8.9B	$1.3B	64.1%	21.5%	—	$18.7B	$43M
2022	$9.6B	$1.4B	54.6%	20.0%	-$636M	$17.1B	$29M
2021	$8.3B	$1.3B	60.2%	20.6%	-$340M	$15.5B	$16M
2020	$7.2B	$1.2B	68.0%	23.6%	-$678M	$14.2B	$25M
2019	$7.5B	$1.1B	64.4%	20.4%	-$184M	$12.7B	$38M
2018	$7.7B	$1.1B	62.3%	19.1%	$28M	$10.3B	$85M
2017	$7.6B	$1.2B	63.1%	23.2%	$119M	$10.2B	$39M
2016	$7.5B	—	64.6%	22.7%	$680M	$10.0B	$38M
2015	$5.9B	—	62.2%	21.1%	$29M	$10.4B	$50M
2014	$5.0B	$588M	54.8%	22.3%	$437M	$4.6B	$62M
2013	$4.5B	$577M	59.6%	23.9%	$506M	$4.6B	$26M
2012	$4.2B	$546M	0.0%	23.6%	$467M	$4.8B	$36M
2011	$4.5B	$526M	0.0%	19.8%	$163M	$4.5B	$14M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
Mar '26	$3.4B	$806M	59.5%	28.5%	$401M	$21.9B	$46M
Dec '25	$2.5B	$317M	63.7%	17.9%	—	$21.9B	$28M
Sep '25	$2.1B	$270M	71.1%	21.4%	-$626M	$20.8B	$51M
Jun '25	$2.0B	$243M	71.6%	20.1%	$24M	$20.2B	$23M
Mar '25	$3.1B	$726M	63.0%	29.8%	$462M	$20.2B	$82M
Dec '24	$2.3B	$453M	67.7%	25.9%	—	$20.0B	$10M
Sep '24	$1.9B	$239M	72.1%	20.6%	-$67M	—	$323M
Jun '24	$1.8B	$210M	73.5%	20.6%	$344M	—	$224M
Mar '24	$2.7B	$623M	65.4%	30.3%	$419M	—	$39M
Dec '23	$2.2B	$219M	65.7%	15.4%	—	$18.7B	$43M
Sep '23	$2.0B	$316M	70.0%	24.1%	$128M	—	$46M
Jun '23	$1.8B	$290M	70.9%	23.2%	$384M	—	$55M
Mar '23	$2.9B	$508M	54.7%	23.2%	$297M	—	$36M
Dec '22	$2.6B	$252M	51.7%	14.9%	-$995M	$17.1B	$29M
Sep '22	$2.0B	$302M	59.8%	20.2%	-$375M	—	$29M
Jun '22	$2.1B	$288M	56.1%	19.2%	$41M	—	$30M
Mar '22	$2.9B	$568M	52.4%	25.2%	$693M	—	$34M
Dec '21	$2.2B	$224M	56.5%	14.8%	-$719M	$15.5B	$16M
Sep '21	$1.7B	$289M	67.9%	22.3%	$163M	—	$26M
Jun '21	$1.7B	$276M	68.6%	22.0%	$292M	—	$35M

Valuation over time

How the market has priced WEC against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 21.9× (Mar '23) to 24.5× (Jun '26).
The price-to-sales ratio has risen from 3.2× (Mar '23) to 3.9× (Jun '26).
The dividend yield has risen from 3.0% (Mar '23) to 3.0% (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is WEC growing its revenue and profit?

Over the past 5 years, WEC Energy Group's revenue has grown 6.2% per year, and net income grown 5.3% per year. These are computed facts, not advice.

How much debt does WEC have?

As of FY2025, WEC Energy Group reported $21.9B of total debt against $28M of cash; operating income covered interest expense 2.5×.

What is WEC's profit margin?

In FY2025, gross margin was 66.7%, operating margin 22.9%, and net margin 15.9%.

What is WEC's P/E ratio?

As of Jun '26, WEC Energy Group traded at a price-to-earnings ratio of about 24.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.