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 Nov 1, 2026, 10:32 UTC 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

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
2025	$9.8B	$1.6B	66.7%	22.9%	11.1%	3.0%	—	$21.9B	$28M
2024	$8.6B	$1.5B	69.1%	25.0%	11.9%	3.2%	—	$20.0B	$10M
2023	$8.9B	$1.3B	64.1%	21.5%	11.0%	3.0%	—	$18.7B	$43M
2022	$9.6B	$1.4B	54.6%	20.0%	12.1%	3.4%	-$636M	$17.1B	$29M
2021	$8.3B	$1.3B	60.2%	20.6%	11.7%	3.3%	-$340M	$15.5B	$16M
2020	$7.2B	$1.2B	68.0%	23.6%	11.3%	3.2%	-$678M	$14.2B	$25M
2019	$7.5B	$1.1B	64.4%	20.4%	11.1%	3.2%	-$184M	$12.7B	$38M
2018	$7.7B	$1.1B	62.3%	19.1%	10.8%	3.2%	$28M	$10.3B	$85M
2017	$7.6B	$1.2B	63.1%	23.2%	12.7%	3.8%	$119M	$10.2B	$39M
2016	$7.5B	—	64.6%	22.7%	0.0%	0.0%	$680M	$10.0B	$38M
2015	$5.9B	—	62.2%	21.1%	—	0.0%	$29M	$10.4B	$50M
2014	$5.0B	$588M	54.8%	22.3%	—	3.9%	$437M	$4.6B	$62M
2013	$4.5B	$577M	59.6%	23.9%	—	4.0%	$506M	$4.6B	$26M
2012	$4.2B	$546M	0.0%	23.6%	—	3.8%	$467M	$4.8B	$36M
2011	$4.5B	$526M	0.0%	19.8%	—	3.8%	$163M	$4.5B	$14M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
Sep '26	$2.3B	$390M	71.6%	24.6%	2.6%	0.7%	-$36M	$22.8B	$59M
Jun '26	$2.1B	$301M	73.1%	21.0%	2.1%	0.6%	-$270M	$22.6B	$50M
Mar '26	$3.4B	$806M	59.5%	28.5%	5.5%	1.6%	$401M	$21.9B	$46M
Dec '25	$2.5B	$317M	63.7%	17.9%	2.3%	0.6%	—	$21.9B	$28M
Sep '25	$2.1B	$270M	71.1%	21.4%	1.9%	0.5%	-$651M	$20.8B	$51M
Jun '25	$2.0B	$243M	71.6%	20.1%	1.8%	0.5%	$24M	$20.2B	$23M
Mar '25	$3.1B	$726M	63.0%	29.8%	5.4%	1.5%	$462M	$20.2B	$82M
Dec '24	$2.3B	$453M	67.7%	25.9%	3.5%	1.0%	—	$20.0B	$10M
Sep '24	$1.9B	$239M	72.1%	20.6%	1.9%	0.5%	-$67M	—	$323M
Jun '24	$1.8B	$210M	73.5%	20.6%	1.7%	0.5%	$344M	—	$224M
Mar '24	$2.7B	$623M	65.4%	30.3%	5.0%	1.4%	$419M	—	$39M
Dec '23	$2.2B	$219M	65.7%	15.4%	1.8%	0.5%	—	$18.7B	$43M
Sep '23	$2.0B	$316M	70.0%	24.1%	2.6%	0.7%	$128M	—	$46M
Jun '23	$1.8B	$290M	70.9%	23.2%	2.4%	0.7%	$384M	—	$55M
Mar '23	$2.9B	$508M	54.7%	23.2%	4.2%	1.2%	$297M	—	$36M
Dec '22	$2.6B	$252M	51.7%	14.9%	2.2%	0.6%	-$995M	$17.1B	$29M
Sep '22	$2.0B	$302M	59.8%	20.2%	2.6%	0.7%	-$375M	—	$29M
Jun '22	$2.1B	$288M	56.1%	19.2%	2.5%	0.7%	$41M	—	$30M
Mar '22	$2.9B	$568M	52.4%	25.2%	5.0%	1.5%	$693M	—	$34M
Dec '21	$2.2B	$224M	56.5%	14.8%	2.0%	0.6%	-$719M	$15.5B	$16M

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 22.1× (Mar '23) to 24.7× (Nov '26).
The price-to-sales ratio has risen from 3.2× (Mar '23) to 3.9× (Nov '26).
The dividend yield has risen from 2.9% (Mar '23) to 3.0% (Nov '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?

WEC Energy Group's P/E (TTM) is 21.21 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the WEC stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 24.7× as of Nov '26) can differ. 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), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.