A Business at a Glance
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WISCONSIN ELECTRIC POWER CO
WELPM
$3.8B
Mkt Cap
$114.82
+0.00%
WISCONSIN ELECTRIC POWER CO (WELPM) has a current P/E ratio of 6.1, compared to its historical median P/E of 7.8. The stock is currently considered Cheap based on its historical valuation range.
WISCONSIN ELECTRIC POWER CO (WELPM) has a 5-year average return on invested capital (ROIC) of 9.5%. This is below average and may indicate limited pricing power.
WISCONSIN ELECTRIC POWER CO (WELPM) has a market capitalization of $3.8B. It is classified as a mid-cap stock.
WISCONSIN ELECTRIC POWER CO (WELPM) does not currently pay a regular dividend.
Based on historical P/E analysis, WISCONSIN ELECTRIC POWER CO (WELPM) appears cheap. The current P/E of 6.1 is 22% below its historical median of 7.8. The estimated fair value CAGR (P/E method) is 7.3%.
WISCONSIN ELECTRIC POWER CO (WELPM) operates in the Electric Services industry, within the Utilities sector.
WISCONSIN ELECTRIC POWER CO (WELPM) reported annual revenue of $4.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
A. INTRODUCTION In this report, when we refer to "us," "we," "our," or "ours," we are referring to Wisconsin Electric Power Company. The term "utility" refers to our regulated activities, while the term "non-utility" refers to our activities that are not regulated. References to "Notes" are to the Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K. We are a subsidiary of WEC Energy Group and were incorporated in the state of Wisconsin in 1896. We maintain our principal executive offices in Milwaukee, Wisconsin and serve customers in Wisconsin. We conduct our business primarily through our utility reportable segment. For more information about our utility operations, including financial and geographic information, see Note 20, Segment Information, and Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations – Results of Operations. For information about our business strategy, see Item 7.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.6B | 4.5B | 4.0B | 4.0B | 4.1B | 3.7B |
| Net Income | 666M | 627M | 513M | 481M | 397M | 381M |
| EPS | $20.00 | $18.83 | $15.42 | $14.44 | $11.92 | $11.45 |
| Free Cash Flow | -1.6B | -1.6B | -178M | -156M | -293M | -11M |
| ROIC | 8.2% | 9.1% | 9.1% | 9.4% | 9.3% | 10.8% |
| Gross Margin | - | 66.6% | 67.3% | 64.1% | 58.4% | 63.4% |
| Debt/Equity | 0.67 | 0.77 | 0.76 | 0.73 | 0.92 | 0.83 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 1.2B | 1.2B | 1.1B | 1.0B | 940M | 869M |
| Operating Margin | 25.5% | 26.1% | 26.7% | 25.3% | 23.1% | 23.7% |
| ROE | 9.0% | 10.2% | 9.7% | 10.4% | 9.8% | 10.0% |
| Shares Outstanding | 33M | 33M | 33M | 33M | 33M | 33M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 4.1B | 3.9B | 3.8B | 3.7B | 3.6B | 3.5B | 3.4B | 3.7B | 4.1B | 4.0B | 4.0B | 4.5B | 4.6B |
| Gross Margin | 59.1% | 63.7% | 65.9% | 65.3% | 65.2% | 65.9% | 68.1% | 63.4% | 58.4% | 64.1% | 67.3% | 66.6% | 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 | N/A | 1.8B | 1.9B | 1.8B | 2.0B | N/A | 1.4B | 1.5B | 1.4B | 1.6B | 1.6B | 1.8B | 1.8B |
| EBIT | 650M | 649M | 634M | 632M | 403M | 760M | 861M | 869M | 940M | 1.0B | 1.1B | 1.2B | 1.2B |
| Op. Margin | 16.0% | 16.8% | 16.7% | 17.0% | 11.1% | 21.7% | 25.6% | 23.7% | 23.1% | 25.3% | 26.7% | 26.1% | 25.5% |
| Net Income | 377M | 376M | 364M | 336M | 358M | 362M | 366M | 381M | 397M | 481M | 513M | 627M | 666M |
| Net Margin | 9.3% | 9.7% | 9.6% | 9.0% | 9.9% | 10.4% | 10.9% | 10.4% | 9.7% | 11.9% | 12.9% | 13.9% | 14.4% |
| Non-Recurring | 0 | 6.6M | 0 | 26M | 0 | 0 | 0 | 3.0M | 10M | 1.6M | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 13.2% | 6.5% | 5.2% | 4.4% | 5.2% | 11.9% | 11.6% | 10.8% | 9.3% | 9.4% | 9.1% | 9.1% | 8.2% |
| ROE | 113.2% | 10.7% | 10.2% | 9.7% | 10.4% | 10.2% | 10.0% | 10.0% | 9.8% | 10.4% | 9.7% | 10.2% | 9.0% |
| ROA | 3.0% | 2.9% | 2.7% | 2.5% | 2.7% | 2.7% | 2.7% | 2.7% | 2.7% | 3.1% | 3.1% | 3.4% | 3.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 863M | 674M | 848M | 698M | 962M | 854M | 767M | 802M | 637M | 939M | 1.3B | 1.1B | 1.2B |
| Free Cash Flow | 301M | 155M | 379M | 102M | 359M | 264M | 104M | -11M | -293M | -156M | -178M | -1.6B | -1.6B |
| Owner Earnings | 560M | 358M | 516M | 354M | 600M | 470M | 326M | 338M | 144M | 411M | 675M | 479M | 554M |
| CapEx | 562M | 519M | 470M | 596M | 603M | 591M | 664M | 813M | 930M | 1.1B | 1.4B | 2.7B | 2.9B |
| Maint. CapEx | 303M | 304M | 325M | 332M | 348M | 384M | 427M | 458M | 480M | 525M | 574M | 630M | 644M |
| Growth CapEx | 259M | 215M | 144M | 264M | 255M | 206M | 237M | 355M | 451M | 570M | 869M | 2.1B | 2.2B |
| D&A | 303M | 304M | 325M | 332M | 348M | 384M | 427M | 458M | 480M | 525M | 574M | 630M | 644M |
| CapEx/OCF | 65.1% | 77.0% | 55.3% | 85.4% | 62.7% | 69.1% | 86.5% | 101.4% | 146.1% | 116.6% | 114.1% | 243.2% | 234.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 390M | 240M | 455M | 1.2M | 1.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | 19.4% | 10.5% | 17.2% | 0.0% | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | N/A | 13M | 7.5M | 12M | 15M | N/A | 15M | 6.2M | 13M | 3.3M | 16M | 19M | 19M |
| Debt Repayment | 300M | 250M | 0 | 0 | 250M | 250M | 0 | 304M | 8.8M | 8.9M | 309M | 259M | 259M |
| Balance Sheet | |||||||||||||
| Net Debt | 2.8B | 2.9B | 5.6B | 5.7B | 2.8B | 2.8B | 3.0B | 3.3B | 3.8B | 3.7B | 4.2B | 5.2B | 5.0B |
| Cash & Equiv. | 24M | 27M | 15M | 12M | 20M | 19M | 7.2M | 0 | 6.1M | 6.1M | 400K | 0 | N/A |
| Long-Term Debt | 2.2B | 2.7B | 5.4B | 5.2B | 2.5B | 2.8B | 2.5B | 2.9B | 3.4B | 3.0B | 3.7B | 4.5B | 4.8B |
| Debt/Equity | 8.49 | 0.81 | 1.58 | 1.67 | 0.81 | 0.81 | 0.83 | 0.83 | 0.92 | 0.73 | 0.76 | 0.77 | 0.67 |
| Interest Coverage | 5.6 | 5.5 | 5.4 | 5.4 | 3.4 | 1.6 | 1.8 | 1.9 | 2.1 | 2.2 | 3.2 | 3.6 | 3.7 |
| Equity | 333M | 3.6B | 3.5B | 3.4B | 3.5B | 3.6B | 3.7B | 3.9B | 4.2B | 5.1B | 5.5B | 6.8B | 7.4B |
| Total Assets | 12.6B | 13.1B | 13.4B | 13.1B | 13.5B | 13.4B | 13.6B | 14.1B | 15.0B | 15.8B | 17.2B | 19.7B | 19.9B |
| Total Liabilities | 3.0B | 9.6B | 9.9B | 9.7B | 10.1B | 9.8B | 1.7B | 1.7B | 1.8B | 1.8B | 1.9B | 2.0B | 11M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 9.1M | 12M | 12M | 12M | 12M |
| Retained Earnings | 2.1B | 2.2B | 2.1B | 2.2B | 2.3B | 2.3B | 2.3B | 2.3B | 2.1B | 2.2B | 2.4B | 2.5B | 2.6B |
| Working Capital | -261M | 150M | 196M | -148M | -61M | 113M | -362M | -96M | -165M | -280M | -186M | -426M | 118M |
| Current Assets | 1000M | 1.0B | 1.0B | 1.0B | 1.0B | 908M | 896M | 1.1B | 1.2B | 1.2B | 1.3B | 1.4B | 1.2B |
| Current Liabilities | 1.3B | 873M | 815M | 1.2B | 1.1B | 795M | 1.3B | 1.2B | 1.4B | 1.5B | 1.5B | 1.8B | 1.1B |
| Per Share Data | |||||||||||||
| EPS | 11.32 | 11.29 | 10.94 | 10.08 | 10.76 | 10.88 | 10.98 | 11.45 | 11.92 | 14.44 | 15.42 | 18.83 | 20.00 |
| Owner EPS | 16.83 | 10.74 | 15.49 | 10.65 | 18.01 | 14.12 | 9.78 | 10.16 | 4.33 | 12.34 | 20.28 | 14.39 | 16.64 |
| Book Value | 10.00 | 107.97 | 105.87 | 102.56 | 104.87 | 106.97 | 110.92 | 118.50 | 125.18 | 152.71 | 165.43 | 203.66 | 221.10 |
| Cash Flow/Share | 25.92 | 20.26 | 25.49 | 20.97 | 28.90 | 25.67 | 23.04 | 24.10 | 19.14 | 28.21 | 37.99 | 33.88 | 39.36 |
| Dividends/Share | 11.72 | 7.21 | 13.67 | 0.04 | 0.04 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 33.3M | 33.3M | 33.3M | 33.3M | 33.3M | 33.3M | 33.3M | 33.3M | 33.3M | 33.3M | 33.3M | 33.3M | 33.3M |
| Valuation | |||||||||||||
| P/E Ratio | 5.5 | 5.8 | 8.0 | 8.8 | 7.4 | 8.7 | 11.1 | 9.9 | 7.7 | 6.4 | 7.0 | 5.5 | 5.7 |
| P/FCF | 6.9 | 14.1 | 7.6 | 29.1 | 7.4 | 11.9 | 39.2 | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | 7.5 | 7.8 | 9.0 | 9.2 | 13.5 | 7.9 | 8.2 | 8.1 | 7.3 | 6.6 | 7.3 | 7.4 | 7.4 |
| Price/Book | 6.3 | 0.6 | 0.8 | 0.9 | 0.8 | 0.9 | 1.1 | 1.0 | 0.7 | 0.6 | 0.7 | 0.5 | 0.5 |
| Price/Sales | 0.5 | 0.6 | 0.7 | 0.8 | 0.8 | 0.8 | 1.0 | 1.0 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 |
| FCF Yield | 14.4% | 7.1% | 13.1% | 3.4% | 13.6% | 8.4% | 2.6% | -0.3% | -9.6% | -5.0% | -4.9% | -46.5% | -42.9% |
| Market Cap | 2.1B | 2.2B | 2.9B | 3.0B | 2.6B | 3.1B | 4.1B | 3.8B | 3.1B | 3.1B | 3.6B | 3.5B | 3.8B |
| Avg. Price | 60.27 | 68.79 | 79.36 | 83.90 | 82.91 | 86.64 | 101.84 | 113.94 | 98.83 | 93.29 | 94.64 | 105.87 | 114.82 |
| Year-End Price | 62.76 | 65.91 | 87.07 | 88.94 | 79.55 | 94.53 | 121.78 | 113.71 | 92.08 | 92.52 | 108.28 | 104.43 | 114.82 |
WISCONSIN ELECTRIC POWER CO passes 5 of 9 quality checks, suggesting mixed fundamentals.
WISCONSIN ELECTRIC POWER CO trades at 6.1x trailing earnings, compared to its 15-year median P/E of 7.8x, suggesting it is currently Cheap relative to its historical range. The company's 5-year average ROIC is 9.5% with a gross margin of 64.0%. At current prices, the estimated annualized return to fair value is -37.5%.
WISCONSIN ELECTRIC POWER CO (WELPM) has a net profit margin of 13.9%. This is a healthy margin.
WISCONSIN ELECTRIC POWER CO (WELPM) generated $-1.6 billion in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
WISCONSIN ELECTRIC POWER CO (WELPM) has a debt-to-equity ratio of 0.77. This indicates moderate leverage.
WISCONSIN ELECTRIC POWER CO (WELPM) reported earnings per share (EPS) of $18.83 in its most recent fiscal year.
WISCONSIN ELECTRIC POWER CO (WELPM) has a return on equity (ROE) of 10.2%. This indicates moderate shareholder returns.
WISCONSIN ELECTRIC POWER CO (WELPM) has a 5-year average gross margin of 64.0%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for WISCONSIN ELECTRIC POWER CO (WELPM), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
WISCONSIN ELECTRIC POWER CO (WELPM) has a book value per share of $203.66, based on its most recent annual SEC filing.