A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
WEC ENERGY GROUP, INC.
WEC
$37.5B
Mkt Cap
$115.77
+0.92%
WEC ENERGY GROUP, INC. (WEC) has a current P/E ratio of 24.1, compared to its historical median P/E of 18.9. The stock is currently considered Expensive based on its historical valuation range.
WEC ENERGY GROUP, INC. (WEC) has a 5-year average return on invested capital (ROIC) of 5.8%. This is below average and may indicate limited pricing power.
WEC ENERGY GROUP, INC. (WEC) has a market capitalization of $37.7B. It is classified as a large-cap stock.
Yes, WEC ENERGY GROUP, INC. (WEC) pays a dividend with a trailing twelve-month yield of 3.11%. The company also returns capital through share buybacks, with a buyback yield of 0.00%.
Based on historical P/E analysis, WEC ENERGY GROUP, INC. (WEC) appears expensive. The current P/E of 24.1 is 27% above its historical median of 18.9. The estimated fair value CAGR (P/E method) is 5.0%.
WEC ENERGY GROUP, INC. (WEC) operates in the Electric & Other Services Combined industry, within the Utilities sector.
WEC ENERGY GROUP, INC. (WEC) reported annual revenue of $9.8 billion in its most recent fiscal year, based on SEC EDGAR filings.
WEC Energy Group is a diversified holding company providing regulated natural gas and electricity utility services, renewable energy generation, and nonregulated renewable energy investments across Wisconsin, Michigan, Illinois, and other regions. The company operates through six reportable segments, with its core utility business serving approximately 1.7 million electric customers and generating revenue from retail, wholesale, and resale electric sales, as well as steam distribution in Milwaukee. WEC's generation portfolio comprises 8,375 MWs of owned capacity, including coal, natural gas, renewable, and battery storage facilities, supplemented by long-term power purchase agreements and spot market purchases through the MISO Energy Markets; the company maintains an approximately 60% equity interest in American Transmission Company (ATC), an electric transmission operator across Illinois, Michigan, Minnesota, and Wisconsin. The business model is capital-intensive and rate-regulated, with revenues derived from volumetric sales and tariff-based cost recovery, supported by a diversified customer base spanning residential, commercial, industrial, and wholesale segments, with growing demand from large-scale data center customers. WEC's competitive positioning rests on its regulated utility franchise, geographic diversity, and integrated generation and transmission assets, while its long-term strategy emphasizes transitioning to a lower-carbon generation fleet through renewable investments and natural gas generation, targeting net carbon-neutral electric generation by 2050.
【Data center-driven capital acceleration】 Management expects robust economic growth in Wisconsin to drive significant capital deployment, with forecasted demand of 2.6 GW through 2030 from large-scale data center customers, including Microsoft and Vantage Data Centers, representing approximately 15% of the asset base by 2030. The company is executing a substantial infrastructure investment program totaling approximately $36.5 billion between 2026 and 2030, including $7.4 billion in natural gas generation and LNG storage and $12.6 billion in renewable generation and battery storage, with asset-based growth expected to average just over 11% annually. Management projects long-term earnings per share growth of 7% to 8% on a compound annual basis through 2030, with growth expected to accelerate to the upper half of the range starting in 2028 as capital projects come into service. Regulatory approvals are progressing across service territories, with rate cases filed in Wisconsin for test years 2027–2028 and Illinois for test year 2027, and management expects to fund incremental capital with 50% equity content while maintaining a dividend payout ratio of 65%–70%.
| Metric | Target | Period |
|---|---|---|
| Earnings per share | $5.51–$5.61 | FY2026 |
| Common equity issuances | $900 million–$1.1 billion | FY2026 |
| Debt funding | $4 billion–$5 billion | FY2026 |
| Capital investment plan | $36.5 billion | 2026–2030 |
| Natural gas generation and LNG storage investment | $7.4 billion | 2026–2030 |
| Renewable generation and battery storage investment | $12.6 billion | 2026–2030 |
| Long-term earnings per share growth (CAGR) | 7%–8% | 2026–2030 |
| Retail electric sales growth (weather-normalized) | 1.6% | FY2026 |
| Forecasted demand growth | 3.4 GW | 2026–2030 |
Earnings per share (FY2026): “We're on track to deliver results in line with our 2026 earnings guidance of $5.51 to $5.61 a share.”
“For 2026, we expect common equity issuances to be between $900 million to $1.1 billion.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 10.1B | 9.8B | 8.6B | 8.9B | 9.6B | 8.3B |
| Net Income | 1.6B | 1.6B | 1.5B | 1.3B | 1.4B | 1.3B |
| EPS | $5.04 | $4.81 | $4.83 | $4.22 | $4.45 | $4.11 |
| Free Cash Flow | 3.1B | -1.0B | 431M | 526M | -636M | -340M |
| ROIC | 9.8% | 6.1% | 5.9% | 5.6% | 5.7% | 5.8% |
| Gross Margin | - | 66.7% | 69.1% | 64.1% | 54.6% | 60.2% |
| Debt/Equity | 0.00 | 1.57 | 1.57 | 1.55 | 1.48 | 1.39 |
| Dividends/Share | $3.61 | $3.57 | $3.34 | $3.12 | $2.91 | $2.71 |
| Operating Income | 2.3B | 2.2B | 2.2B | 1.9B | 1.9B | 1.7B |
| Operating Margin | 22.7% | 22.9% | 25.0% | 21.5% | 20.0% | 20.6% |
| ROE | 0.0% | 11.6% | 12.3% | 11.2% | 12.4% | 11.9% |
| Shares Outstanding | 326M | 324M | 316M | 316M | 316M | 316M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 5.0B | 5.9B | 7.5B | 7.6B | 7.7B | 7.5B | 7.2B | 8.3B | 9.6B | 8.9B | 8.6B | 9.8B | 10.1B |
| Gross Margin | 54.8% | 62.2% | 64.6% | 63.1% | 62.3% | 64.4% | 68.0% | 60.2% | 54.6% | 64.1% | 69.1% | 66.7% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 1.6B | 2.4B | 3.1B | 3.0B | 3.3B | 3.3B | 3.2B | 3.3B | 3.3B | 3.8B | 3.8B | 4.3B | 4.3B |
| EBIT | 1.1B | 1.3B | 1.7B | 1.8B | 1.5B | 1.5B | 1.7B | 1.7B | 1.9B | 1.9B | 2.2B | 2.2B | 2.3B |
| Op. Margin | 22.3% | 21.1% | 22.7% | 23.2% | 19.1% | 20.4% | 23.6% | 20.6% | 20.0% | 21.5% | 25.0% | 22.9% | 22.7% |
| Net Income | 588M | 639M | 939M | 1.2B | 1.1B | 1.1B | 1.2B | 1.3B | 1.4B | 1.3B | 1.5B | 1.6B | 1.6B |
| Net Margin | 11.8% | 10.8% | 12.6% | 15.7% | 13.8% | 15.1% | 16.6% | 15.6% | 14.7% | 15.0% | 17.8% | 15.9% | 16.2% |
| Non-Recurring | 0 | 48M | 20M | 31M | 0 | 0 | 3.5M | 11M | 78M | 204M | 11M | 146M | 146M |
| Returns on Capital | |||||||||||||
| ROIC | 7.2% | 5.2% | 5.6% | 6.8% | 4.9% | 5.1% | 6.0% | 5.8% | 5.7% | 5.6% | 5.9% | 6.1% | 9.8% |
| ROE | 13.5% | 9.7% | 10.6% | 13.0% | 7.2% | 7.5% | 11.5% | 11.9% | 12.4% | 11.2% | 12.3% | 11.6% | 0.0% |
| ROA | 4.0% | 2.9% | 3.2% | 3.9% | 3.3% | 3.3% | 3.3% | 3.4% | 3.5% | 3.1% | 3.3% | 3.2% | 3.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.2B | 1.3B | 2.1B | 2.1B | 2.4B | 2.3B | 2.2B | 2.0B | 2.1B | 3.0B | 3.2B | 3.4B | 3.4B |
| Free Cash Flow | 437M | 27M | 680M | 119M | 28M | -184M | -678M | -340M | -636M | 526M | 431M | -1.0B | 3.1B |
| Owner Earnings | 790M | 711M | 1.3B | 1.3B | 1.6B | 1.4B | 1.2B | 943M | 903M | 1.7B | 1.8B | 1.9B | 1.9B |
| CapEx | 761M | 1.3B | 1.4B | 2.0B | 2.4B | 2.5B | 2.9B | 2.4B | 2.7B | 2.5B | 2.8B | 4.4B | 349M |
| Maint. CapEx | 391M | 562M | 763M | 799M | 846M | 926M | 976M | 1.1B | 1.1B | 1.3B | 1.4B | 1.5B | 1.5B |
| Growth CapEx | 370M | 704M | 661M | 1.2B | 1.6B | 1.6B | 1.9B | 1.3B | 1.6B | 1.2B | 1.4B | 2.9B | 0 |
| D&A | 391M | 562M | 763M | 799M | 846M | 926M | 976M | 1.1B | 1.1B | 1.3B | 1.4B | 1.5B | 1.5B |
| CapEx/OCF | 63.5% | 97.9% | 67.7% | N/A | 2.5% | 96.4% | 101.9% | 110.8% | 112.3% | 82.6% | 86.6% | 130.1% | 10.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 352M | 455M | 625M | 657M | 697M | 745M | 798M | 855M | 918M | 984M | 1.1B | 1.1B | 1.2B |
| Dividend Yield | 5.0% | 4.7% | 4.6% | 4.4% | 4.3% | 3.5% | 3.2% | 3.5% | 3.4% | 3.9% | 4.1% | 3.4% | 3.1% |
| Share Buybacks | 123M | 75M | 108M | 71M | 72M | 140M | 99M | 33M | 69M | 17M | 3.2M | 1.3M | 1.3M |
| Buyback Yield | 1.4% | 0.7% | 0.8% | 0.4% | 0.4% | 0.6% | 0.4% | 0.1% | 0.3% | 0.1% | 0.0% | 0.0% | 0.0% |
| Stock-Based Comp | 17M | 21M | 29M | 29M | 36M | 50M | 36M | 16M | 35M | 9.7M | 39M | 48M | 418K |
| Debt Repayment | 324M | 530M | 306M | 155M | 953M | 360M | 1.8B | 1.3B | 92M | 1.0B | 2.1B | 1.7B | 1.7B |
| Balance Sheet | |||||||||||||
| Net Debt | 5.2B | 10.3B | 10.1B | 11.0B | 11.7B | 12.7B | 14.2B | 15.5B | 17.1B | 18.7B | 20.1B | 22.0B | 21.9B |
| Cash & Equiv. | 62M | 50M | 38M | 39M | 85M | 38M | 25M | 16M | 29M | 43M | 9.8M | 28M | 46M |
| Long-Term Debt | 4.2B | 9.1B | 9.2B | 8.7B | 10.0B | 11.2B | 11.7B | 13.5B | 14.7B | 15.4B | 17.2B | 18.5B | 19.4B |
| Debt/Equity | 1.17 | 1.19 | 1.14 | 1.16 | 0.59 | 1.24 | 1.33 | 1.39 | 1.48 | 1.55 | 1.57 | 1.57 | 0.00 |
| Interest Coverage | 4.6 | 3.8 | 4.2 | 4.3 | 3.3 | 3.1 | 3.5 | 3.6 | 3.7 | 2.6 | 2.6 | 2.5 | 184.5 |
| Equity | 4.5B | 8.7B | 9.0B | 9.5B | 19.8B | 10.3B | 10.7B | 11.1B | 11.6B | 12.1B | 12.8B | 14.1B | -2.8M |
| Total Assets | 14.9B | 29.4B | 30.1B | 31.6B | 33.5B | 35.0B | 37.0B | 39.0B | 41.9B | 43.9B | 47.4B | 51.5B | 51.7B |
| Total Liabilities | 2.7B | 4.6B | 5.1B | 22.1B | 3.4B | 4.7B | 5.0B | 5.2B | 5.5B | 5.8B | 6.3B | 6.8B | 36M |
| Intangibles | N/A | 14M | N/A | N/A | N/A | N/A | N/A | 5.7M | 25M | 29M | 29M | 44M | 19M |
| Retained Earnings | 4.1B | 4.3B | 4.6B | 5.2B | 5.5B | 5.9B | 6.3B | 6.8B | 7.3B | 7.6B | 8.1B | 8.5B | 9.0B |
| Working Capital | -376M | -502M | -263M | -1.7B | -1.1B | -1.1B | -2.1B | -1.1B | -1.4B | -2.3B | -1.9B | -2.3B | -1.4B |
| Current Assets | 1.3B | 2.2B | 2.2B | 2.2B | 2.2B | 2.1B | 2.1B | 2.7B | 3.2B | 2.8B | 2.9B | 3.3B | 3.0B |
| Current Liabilities | 1.7B | 2.7B | 2.4B | 3.9B | 3.3B | 3.2B | 4.1B | 3.8B | 4.6B | 5.1B | 4.8B | 5.6B | 4.4B |
| Per Share Data | |||||||||||||
| EPS | 2.59 | 2.34 | 2.96 | 3.79 | 3.34 | 3.58 | 3.79 | 4.11 | 4.45 | 4.22 | 4.83 | 4.81 | 5.04 |
| Owner EPS | 3.48 | 2.60 | 4.14 | 3.94 | 4.93 | 4.32 | 3.74 | 2.98 | 2.85 | 5.53 | 5.75 | 5.72 | 5.94 |
| Book Value | 19.59 | 31.83 | 28.25 | 29.89 | 62.47 | 32.37 | 33.68 | 35.13 | 36.71 | 38.25 | 40.49 | 43.40 | -0.01 |
| Cash Flow/Share | 5.27 | 4.74 | 6.63 | 6.54 | 7.71 | 7.40 | 6.94 | 6.42 | 6.51 | 9.56 | 10.16 | 10.44 | 9.63 |
| Dividends/Share | 1.56 | 1.74 | 1.98 | 2.08 | 2.21 | 2.36 | 2.53 | 2.71 | 2.91 | 3.12 | 3.34 | 3.57 | 3.61 |
| Shares Out. | 227.1M | 272.9M | 317.2M | 317.6M | 317.2M | 316.8M | 316.6M | 316.4M | 316.4M | 315.6M | 316.2M | 323.8M | 325.7M |
| Valuation | |||||||||||||
| P/E Ratio | 14.6 | 15.9 | 14.5 | 13.4 | 16.4 | 21.1 | 20.0 | 20.3 | 19.0 | 18.4 | 18.8 | 21.8 | 23.0 |
| P/FCF | 19.7 | 370.8 | 20.0 | 135.9 | 611.6 | N/A | N/A | N/A | N/A | 46.6 | 66.8 | N/A | 12.2 |
| EV/EBIT | 12.3 | 16.3 | 14.1 | 10.8 | 19.7 | 23.9 | 22.4 | 24.5 | 22.9 | 22.6 | 22.6 | 24.8 | 26.1 |
| Price/Book | N/A | 1.2 | 1.5 | 1.7 | 1.8 | 2.4 | 2.3 | 2.4 | 2.4 | 2.1 | 2.3 | 2.5 | N/A |
| Price/Sales | 1.4 | 1.6 | 1.8 | 2.0 | 2.1 | 2.8 | 3.4 | 3.0 | 2.8 | 2.8 | 3.0 | 3.4 | 3.7 |
| FCF Yield | 5.1% | 0.3% | 5.0% | 0.7% | 0.2% | -0.8% | -2.8% | -1.3% | -2.4% | 2.1% | 1.5% | -3.0% | 8.2% |
| Market Cap | 8.6B | 10.2B | 13.6B | 16.2B | 17.4B | 23.9B | 24.0B | 26.4B | 26.8B | 24.5B | 28.8B | 33.9B | 37.7B |
| Avg. Price | 31.11 | 35.25 | 43.03 | 47.48 | 50.99 | 67.62 | 78.03 | 78.03 | 85.66 | 80.27 | 81.84 | 104.32 | 115.77 |
| Year-End Price | 37.78 | 37.23 | 42.95 | 50.96 | 54.77 | 75.40 | 75.91 | 83.40 | 84.68 | 77.56 | 90.93 | 104.62 | 115.77 |
WEC ENERGY GROUP, INC. passes 4 of 9 quality checks, suggesting mixed fundamentals.
WEC ENERGY GROUP, INC. trades at 24.1x trailing earnings, compared to its 15-year median P/E of 18.9x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 5.8% with a gross margin of 62.9%. Total shareholder yield (dividends) is 3.1%. At current prices, the estimated annualized return to fair value is +0.5%.
WEC ENERGY GROUP, INC. (WEC) has a net profit margin of 15.9%. This is a healthy margin.
WEC ENERGY GROUP, INC. (WEC) generated $-1.0 billion in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
WEC ENERGY GROUP, INC. (WEC) has a debt-to-equity ratio of 1.57. This indicates higher leverage, which may increase financial risk.
WEC ENERGY GROUP, INC. (WEC) reported earnings per share (EPS) of $4.81 in its most recent fiscal year.
WEC ENERGY GROUP, INC. (WEC) has a return on equity (ROE) of 11.6%. This indicates moderate shareholder returns.
WEC ENERGY GROUP, INC. (WEC) has a 5-year average gross margin of 62.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 19 years of financial data for WEC ENERGY GROUP, INC. (WEC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
WEC ENERGY GROUP, INC. (WEC) has a book value per share of $43.40, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects robust economic growth in Wisconsin to drive significant capital deployment, with forecasted demand of 2.6 GW through 2030 from large-scale data center customers, including Microsoft and Vantage Data Centers, representing approximately 15% of the asset base by 2030. The company is executing a substantial infrastructure investment program totaling approximately $36.5 billion between 2026 and 2030, including $7.4 billion in natural gas generation and LNG storage and $12.6 billion in renewable generation and battery storage, with asset-based growth expected to average just over 11% annually. Management projects long-term earnings per share growth of 7% to 8% on a compound annual basis through 2030, with growth expected to accelerate to the upper half of the range starting in 2028 as capital projects come into service. Regulatory approvals are progressing across service territories, with rate cases filed in Wisconsin for test years 2027–2028 and Illinois for test year 2027, and management expects to fund incremental capital with 50% equity content while maintaining a dividend payout ratio of 65%–70%.
Based on recent SEC filings and earnings calls, WEC ENERGY GROUP, INC. (WEC) has provided the following forward guidance: Earnings per share: $5.51–$5.61 (FY2026); Common equity issuances: $900 million–$1.1 billion (FY2026); Debt funding: $4 billion–$5 billion (FY2026); Capital investment plan: $36.5 billion (2026–2030); Natural gas generation and LNG storage investment: $7.4 billion (2026–2030), plus 4 additional metrics.
Debt funding (FY2026): “In 2026, we expect debt funding to be in the range of $4 billion-$5 billion.”
Capital investment plan (2026–2030): “we expect to invest $36.5 billion in capital projects between 2026 and 2030”
Natural gas generation and LNG storage investment (2026–2030): “Between 2026 and 2030, we expect to invest a total of $7.4 billion in modern, efficient natural gas generation and LNG storage.”
Renewable generation and battery storage investment (2026–2030): “In renewables, over the next five years, we expect to invest $12.6 billion to add 6,500 MW to our generation fleet.”
Long-term earnings per share growth (CAGR) (2026–2030): “we project long-term earnings per share growth of 7% to 8% a year on a compound annual basis between 2026 and 2030”
Retail electric sales growth (weather-normalized) (FY2026): “We currently forecast retail electric sales volumes, excluding the Tilden mine located in the Upper Peninsula of Michigan, to increase 1.6% for 2026, compared with 2025, assuming normal weather.”
No recent press releases.