WEC Energy Group, Inc., through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments. It generates and distributes electricity from coal, natural gas, oil, and nuclear, as well as renewable energy resources, including wind, solar, hydroelectric, and biomass; and distributes and hydroelectric natural gas. The company also owns, maintains, monitors, and operates electric transmission systems; and generates, distributes, and sells steam. As of December 31, 2025, the company operated approximately 35,200 miles of overhead distribution lines and 37,600 miles of underground distribution cables, as well as 420 electric distribution substations and 649,500 line transformers; approximately 47,200 miles of natural gas distribution mains; 1,300 miles of natural gas transmission mains; 2.4 million natural gas lateral services; 510 natural gas distribution and transmission gate stations; and 67.0 billion cubic feet of working gas capacities in underground natural gas storage fields. The company was formerly known as Wisconsin Energy Corporation and changed its name to WEC Energy Group, Inc. in June 2015. WEC Energy Group, Inc. was founded in 1896 and is headquartered in Milwaukee, Wisconsin.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $9.8B | $4.0B | $1.6B | $-1.0B | 11.4% | 14.0% | 2.0% |
| 2024 | $8.6B | $3.9B | $1.5B | $431M | 12.3% | -3.3% | 14.7% |
| 2023 | $8.9B | $3.5B | $1.3B | $526M | 11.4% | -7.3% | -5.4% |
| 2022 | $9.6B | $3.4B | $1.4B | $-254M | 12.4% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 9,597.40 | 8,893 | 8,599.90 | 9,800.10 |
| Operating Revenue | - | 9,568.10 | 8,785.30 | 8,467.70 | 9,755.60 |
| Cost Of Revenue | - | 6,296.90 | 5,291.70 | 4,814 | 5,666.60 |
| Gross Profit | - | 3,300.50 | 3,601.30 | 3,785.90 | 4,133.50 |
| Operating Expense | - | 1,376.30 | 1,514.40 | 1,621 | 1,758.60 |
| Total Expenses | - | 7,673.20 | 6,806.10 | 6,435 | 7,425.20 |
| Operating Income | - | 1,924.20 | 2,086.90 | 2,164.90 | 2,374.90 |
| Total Operating Income As Reported | - | 1,924.20 | 1,908 | 2,152.80 | 2,244.90 |
| EBITDA | - | 3,370.30 | 3,527.90 | 3,916.10 | 4,047.10 |
| Normalized EBITDA | - | 3,353.50 | 3,633.50 | 3,833.60 | 4,069.20 |
| EBIT | - | 2,247.70 | 2,263.70 | 2,561.60 | 2,568.60 |
| Interest Income | - | 1.20 | 3.90 | 17.20 | 5.90 |
| Interest Expense | - | 515.10 | 727.40 | 815.30 | 895.10 |
| Net Interest Income | - | -513.90 | -723.50 | -798.10 | -889.20 |
| Other Non Operating Income Expenses | - | 101.50 | 102.10 | 84.80 | 4.50 |
| Other Income Expense | - | 322.30 | 172.90 | 379.50 | 187.80 |
| Interest Income Non Operating | - | 1.20 | 3.90 | 17.20 | 5.90 |
| Interest Expense Non Operating | - | 515.10 | 727.40 | 815.30 | 895.10 |
| Net Non Operating Interest Income Expense | - | -513.90 | -723.50 | -798.10 | -889.20 |
| Pretax Income | - | 1,732.60 | 1,536.30 | 1,746.30 | 1,673.50 |
| Tax Provision | - | 322.90 | 204.60 | 222 | 118 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 3.12 | -14.04 | 10.48 | -1.57 |
| Net Income Continuous Operations | - | 1,409.70 | 1,331.70 | 1,524.30 | 1,555.50 |
| Net Income From Continuing And Discontinued Operation | - | 1,409.30 | 1,332.90 | 1,528.40 | 1,558.70 |
| Net Income From Continuing Operation Net Minority Interest | - | 1,409.30 | 1,332.90 | 1,528.40 | 1,558.70 |
| Net Income | - | 1,409.30 | 1,332.90 | 1,528.40 | 1,558.70 |
| Net Income Common Stockholders | - | 1,408.10 | 1,331.70 | 1,527.20 | 1,557.50 |
| Net Income Including Noncontrolling Interests | - | 1,409.70 | 1,331.70 | 1,524.30 | 1,555.50 |
| Normalized Income | - | 1,395.62 | 1,424.46 | 1,456.38 | 1,579.23 |
| Diluted NI Availto Com Stockholders | - | 1,408.10 | 1,331.70 | 1,527.20 | 1,557.50 |
| Basic Average Shares | - | 315.40 | 315.40 | 316.20 | 321.90 |
| Diluted Average Shares | - | 316.10 | 315.90 | 316.50 | 323.80 |
| Reconciled Depreciation | - | 1,122.60 | 1,264.20 | 1,354.50 | 1,478.50 |
| Reconciled Cost Of Revenue | - | 6,296.90 | 5,291.70 | 4,814 | 5,666.60 |
| Total Unusual Items | - | 16.80 | -105.60 | 82.50 | -22.10 |
| Total Unusual Items Excluding Goodwill | - | 16.80 | -105.60 | 82.50 | -22.10 |
| Preferred Stock Dividends | - | 1.20 | 1.20 | 1.20 | 1.20 |
| Minority Interests | - | -0.40 | 1.20 | 4.10 | 3.20 |
| Special Income Charges | - | 29.40 | -119.30 | 70.80 | -30.20 |
| Other Special Charges | - | -29.40 | -59.60 | -82.90 | -99.80 |
| Impairment Of Capital Assets | - | 0 | 178.90 | 12.10 | 130 |
| Gain On Sale Of Security | - | -12.60 | 13.70 | 11.70 | 8.10 |
| Depreciation Amortization Depletion Income Statement | - | 1,122.60 | 1,264.20 | 1,354.50 | 1,478.50 |
| Depreciation And Amortization In Income Statement | - | 1,122.60 | 1,264.20 | 1,354.50 | 1,478.50 |
| Earnings From Equity Interest | - | 204 | 176.40 | 212.20 | 205.40 |
| Other Taxes | - | 253.70 | 250.20 | 266.50 | 280.10 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| WEC Energy Group, Inc.this co. | WEC | $36.2B | 23.26β premium | 2.66 | 11.4% | 14.46 |
| Public Service Enterprise Group Incorporated | PEG | $38.9B | 18.43 | 2.29 | 12.4% | 13.14 |
| Consolidated Edison, Inc. | ED | $38.4B | 18.96 | 1.59 | 8.4% | 10.58 |
| PG&E Corporation | PCG | $37.0B | 13.70 | 1.20 | 8.7% | 9.68 |
| DTE Energy Company | DTE | $29.7B |
| - |
| - |
| - |
| - |
| - |
| 20.31 |
| 2.41 |
| 11.9% |
| 12.54 |
| Ameren Corporation | AEE | $29.6B | 20.34 | 2.21 | 10.9% | - |
| NRG Energy, Inc. | NRG | $28.1B | 32.57 | 27.30 | 83.8% | 12.21 |
| Atmos Energy Corporation | ATO | $28.0B | 23.40 | 2.07 | 8.8% | 15.57 |
| Edison International | EIX | $27.6B | 5.88 | 1.62 | 27.5% | 6.41 |
| Peer Median | - | 19.63 | 2.14 | 11.4% | 12.21 | |