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WEC Energy Group, Inc.

WEC Utilities Utilities Regulated Electric

WEC Energy Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.8 billion, up 14.0% from fiscal 2024.

Revenue
+8.87%
EPS
+41.7%
Free cash flow
+86.4%
Total debt
+9.36%

Quarter to September 2026, against a year earlier

118.44 0.33 +0.28%
Market cap
$38.9B
P/E
21.3×
Fwd P/E
20.7×
Dividend yield
3.17%
F-score
5/9
Altman Z
1.05
Beneish M
−2.45
Dividend safety
38/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Insider Decisions last twelve months

Sold, $m 6.39
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 5 — — 1 — — 1 — — 1
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 38,930.00
Revenue ttm 10,324.00
Net income ttm 1,814.20
Free cash flow ttm (913.90)
Net debt Q 23,115.00
Valuation
P/E 21.34
Forward P/E 20.70
Price / sales 3.75
Forward P/S Powerpack
Price / FCF 0.00
Price / book 2.58
Financial health
Current ratio Q 0.53 (below 1: weak)
Debt / equity Q 1.54
Interest coverage Q 2.33
Growth
Revenue growth Q +8.87% (above 0%: growing)
Operating income growth Q +25.38% (above 0%: growing)
EPS, this year +6.57%
EPS, next year A +7.28%
Revenue, next year A +5.97%
EPS, past 5 yrs +4.88%
EPS, next 5 yrs A +7.52%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 6.0×, against a ten-year median of 5.2×; over the ten years it ranged from 3.8× in 2016 to 6.3× in 2025.
P/E against its own 10 years 44.81%
10-year low 10-year high
P/S against its own 10 years 76.46%
10-year low 10-year high
P/B against its own 10 years 66.19%
10-year low 10-year high
EV/Sales against its own 10 years 91.31%
10-year low 10-year high

Dividends raised 3 years running

Yield
3.17%
Annual rate
3.75
Payout ratio
68.1%
Growth, 2018–26
+7.05%/yr
  1. 2.21 ’18
  2. 2.36 ’19 +7
  3. 2.53 ’20 +7
  4. 2.71 ’21 +7
  5. 3.64 ’22 +34
  6. 3.12 ’23 −14
  7. 3.34 ’24 +7
  8. 3.57 ’25 +7
  9. 3.81 ’26 +7
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 43 10 28 59
Receivables 1,503 1,669 2,063 1,404
Inventory 775 813 803 865
Other 224 122 120 223
2,796 2,912 3,285 2,751
2023 2024 2025 Q'26
Payables 897 1,137 1,140 1,119
ST’ Debt 3,285 2,846 3,444 3,039
Other 933 859 1,009 1,032
5,115 4,842 5,593 5,190

Compound Annual Growth %

10y 5y 3y
Sales 5.16% 6.24% 0.70%
Cash Flow 10.08% 9.00% 17.93%
Earnings 9.33% 5.36% 3.42%
Book Value 4.93% 5.68% 6.55%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.98 Actual 1.18

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.38 1.42 Beat by 0.04
Q1 FY26 2.33 2.45 Beat by 0.12
Q2 FY26 0.80 0.91 Beat by 0.11
Q3 FY26 0.98 1.18 Beat by 0.20
Q4 FY26 1.35 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 2.45 0.91 1.18 — —
’25 2.27 0.76 0.83 0.97 4.81
’24 1.97 0.67 0.76 1.43 4.83
’23 1.61 0.92 1.00 0.69 4.22
’22 1.79 0.91 0.96 0.80 4.45
’21 1.61 0.87 0.92 0.71 4.11
’20 1.43 0.76 0.84 0.76 3.79
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,434 2,062 2,291 — —
’25 3,150 2,010 2,104 2,537 9,800
’24 2,680 1,772 1,864 2,284 8,600
’23 2,888 1,830 1,957 2,218 8,893
’22 2,908 2,128 2,003 2,558 9,597
’21 2,691 1,676 1,747 2,202 8,316
’20 2,109 1,549 1,651 1,933 7,242
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,218 992 1,202 — —
’25 1,163 853 939 425 3,379
’24 864 1,037 729 582 3,212
’23 796 958 784 480 3,018
’22 1,077 686 297 1 2,061
’21 395 831 781 26 2,033
’20 691 689 570 246 2,196
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 346 (306) (95) — —
’25 419 (21) (701) (859) (1,161)
’24 407 325 (37) (310) 385
’23 297 414 128 (377) 462
’22 703 96 (371) (658) (250)
’21 (64) 301 164 (599) (198)
’20 196 149 (4) (363) (22)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 23.0% a year for ten years.

Implied
23.0%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 7,472 7,649 7,680 7,523 7,242 8,316 9,597 8,893 8,600 9,800 10,324 +3.1% 10,385 10,862 11,769 +6.3%
Gross margin, % 64.57 63.09 62.26 64.39 67.97 60.19 54.58 64.12 69.12 66.68 65.91 +2.1 pt
EBT 1,507 1,588 1,230 1,260 1,429 1,499 1,733 1,536 1,746 1,674 1,945 +1.2%
EBT margin, % 20.16 20.77 16.02 16.74 19.74 18.02 18.05 17.28 20.31 17.08 18.84 (3.1) pt
Net income 940 1,205 1,061 1,135 1,201 1,299 1,410 1,332 1,524 1,556 1,814 +5.8%
Per share, $
Per share, $ Revenue 23.68 24.23 24.34 23.85 22.96 26.37 30.43 28.20 27.20 30.44 31.61 +2.8%
Earnings 2.98 3.81 3.36 3.60 3.80 4.12 4.46 4.22 4.83 4.84 5.55 +5.5%
Cash flow 6.67 6.59 7.75 7.44 6.96 6.44 6.53 9.57 10.16 10.50 11.75 +5.2%
Capex (3.98) (6.21) (6.71) (7.17) (7.03) (7.07) (7.33) (8.11) (8.94) (14.11) (14.55) +15.1%
Free cash flow 2.68 0.38 1.05 0.27 (0.07) (0.63) (0.79) 1.46 1.22 (3.61) (2.80) n/m
Book value 28.39 30.08 31.20 32.51 33.81 35.24 36.83 38.27 40.49 43.66 45.96 +4.9%
Shares, m 316 316 316 315 315 315 315 315 316 322 325 +0.2%
Valuation, ×
Valuation, × P/E 19.63 17.26 20.61 25.69 24.15 23.50 21.11 20.46 19.47 21.70 21.34 21.4
P/S 2.47 2.71 2.85 3.87 4.01 3.68 3.09 3.06 3.46 3.46 3.75 3.3
P/B 2.07 2.19 2.23 2.85 2.73 2.76 2.56 2.26 2.33 2.42 2.58 2.4
EV/Sales 3.83 4.15 4.37 5.55 5.98 5.55 4.89 5.17 5.82 5.74 5.99 5.1
EV/FCF 33.79 266.59 101.78 493.35 (1,924.10) (233.05) (203.57) 99.57 129.94 (48.43) (67.62) (128.4)
Cash, $m
Cash, $m Operating cash flow 2,104 2,079 2,446 2,346 2,196 2,033 2,061 3,018 3,212 3,379 3,838 +5.4%
Capex (1,257) (1,959) (2,116) (2,261) (2,218) (2,231) (2,311) (2,557) (2,827) (4,540) (4,752) +15.3%
Free cash flow 846 119 330 85 (22) (198) (250) 462 385 (1,161) (914) n/m
Balance, $m
Balance, $m Working capital (263) (1,656) (1,084) (1,089) (2,065) (1,096) (1,423) (2,319) (1,930) (2,309) (2,438) +27.3%
Net debt 10,138 10,994 11,715 12,698 14,266 15,574 17,266 18,755 20,317 22,287 23,115 +9.1%
Shareholders’ equity 8,960 9,492 9,843 10,255 10,663 11,113 11,617 12,072 12,802 14,053 15,010 +5.1%
Returns, %
Returns, % ROA 3.16 3.90 3.26 3.31 3.33 3.42 3.48 3.10 3.35 3.15 3.49 0.0 pt
ROIC 5.55 5.42 4.26 4.17 4.28 4.02 4.16 3.87 4.06 3.86 3.98 (1.7) pt
ROE 10.68 13.09 10.99 11.32 11.51 11.98 12.42 11.27 12.31 11.63 12.50 +0.9 pt
People
People Employees 8,164 8,129 7,878 7,509 7,273 6,938 7,022 7,000 7,017 7,151 — (1.5%)
Revenue/emp, $m 0.92 0.94 0.97 1.00 1.00 1.20 1.37 1.27 1.23 1.37 — +4.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

WEC Energy Group is a holding company whose subsidiaries generate and distribute electricity and deliver natural gas. They serve households, businesses and other customers in Wisconsin, Illinois, Michigan and Minnesota. WEC also invests in electric transmission and energy infrastructure, including renewable generation and natural gas storage.

Its electric utilities generate power at their own plants and deliver it through local distribution networks. They also buy power under contracts and in the regional electricity market. Their customers include residential users, commercial and industrial businesses, utilities and energy marketers. WEC’s gas utilities buy and deliver natural gas, while also transporting gas for customers that choose another supplier.

WEC Energy Group, Inc. vs peers in Utilities Regulated Electric (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
XEL Xcel Energy Inc. $51.6B 18.6× 19.5× +6.56% (above 0%: growing) +71.48% (above 0%: growing) +5.89% (above 0%: growing) 72.99% 28.55% Compare
EXC Exelon Corporation $48.2B 18.1× 16.2× +9.16% (above 0%: growing) −18.60% (below 0%: shrinking) −410.43% (below 0%: shrinking) 60.14% 18.84% Compare
ED Consolidated Edison Inc $44.8B 19.4× 18.2× +8.45% (above 0%: growing) +8.38% (above 0%: growing) +237.96% (above 0%: growing) 0.00% 23.81% Compare
WEC WEC Energy Group, Inc. $38.9B 21.3× 20.7× +8.87% (above 0%: growing) +41.67% (above 0%: growing) +86.39% (above 0%: growing) 71.57% 24.61%
PEG Public Service Enterprise Group Incorporated $36.4B 20.7× 17.6× −6.39% (below 0%: shrinking) −39.11% (below 0%: shrinking) −139.44% (below 0%: shrinking) 62.75% 20.60% Compare
FTS Fortis $31.3B 23.2× 22.6× +4.39% (above 0%: growing) +28.66% (above 0%: growing) −10.20% (below 0%: shrinking) 47.83% 30.08% Compare
AEE Ameren Corporation $31.2B 19.7× 20.5× −5.81% (below 0%: shrinking) +11.76% (above 0%: growing) −51.22% (below 0%: shrinking) 73.90% 21.94% Compare
PCG Pacific Gas & Electric Co. $29.1B 9.8× 11.2× −0.99% (below 0%: shrinking) −8.11% (below 0%: shrinking) −892.50% (below 0%: shrinking) 83.63% 20.18% Compare
DTE DTE Energy Company $28.1B 20.5× 18.8× +5.67% (above 0%: growing) +11.88% (above 0%: growing) +230.17% (above 0%: growing) 0.00% 16.18% Compare
Median of peers $33.9B 19.5× 18.5× +5.03% +10.07% −30.71% 61.44% 21.27%

All 39 Utilities Regulated Electric stocks →

From the latest earnings call

Updated

  • CEO Scott Lauber said WEC expects 4.9 gigawatts of electric demand growth between 2026 and 2031, underpinning its updated capital plan.
  • CFO Xia Liu said WEC is seeking more cash returns during construction from very large customers, helping keep planned common equity needs relatively flat.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 85.59%
Held by the ten largest 45.00%
Holder Shares Stake Change
Vanguard 41.72m 12.80% +289.68k
BlackRock 33.32m 10.23% +271.34k
State Street 21.09m 6.47% −148.77k
Geode Capital Management 9.24m 2.84% +133.72k
Bank of America 8.61m 2.64% +635.70k
Wells Fargo 8.57m 2.63% +12.64k
Franklin Templeton 6.80m 2.09% +199.37k
Deutsche Bank (DWS) 6.05m 1.86% +122.03k
Ameriprise (Columbia Threadneedle) 5.82m 1.79% +155.05k
Charles Schwab 5.39m 1.65% −55.67k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

WEC Energy Group, Inc. (WEC) Latest News

31 Oct

Impact 3 · · Simply Wall St.

30 Oct

Impact 4 · · MarketBeat transcript
Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby

29 Oct

Impact 4 · · jsonline.com
Impact 4 · · PR Newswire earnings
Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Associated Press

23 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Trefis

22 Oct

Impact 3 · · PR Newswire
Impact 3 · · Zacks

14 Oct

Impact 3 · · Barchart

25 Sep

Impact 3 · · Simply Wall St.

7 Aug

Impact 3 · · The Motley Fool transcript

1 Aug

Impact 3 · · MarketBeat transcript

30 Jul

Impact 3 ·

29 Jul

Impact 4 · transcript
Impact 3 ·
Impact 3 · · Moby transcript
Impact 3 · · InvestorsHub
Impact 3 ·

9 Jun

Impact 3 · · Simply Wall St.

23 May

Impact 3 · · 24/7 Wall St.

12 May

Impact 3 · · Simply Wall St.

10 May

Impact 3 · · Insider Monkey

9 May

Impact 3 · · Insider Monkey

7 May

Impact 3 · · PR Newswire
Impact 3 · · Zacks

WEC metrics, ten years each

stockrow.com/WEC · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com