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WEC Energy Group (WEC) stock

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NYSE: WEC NYSE Electric Utilities Next results ~February 4, 2027

C+ Fundamentals grade

WEC Energy Group is a US-listed company in the electric utilities industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$99

Valuation models combined (5)

Base case. Range ~$76–$110. Weighted average of 5 models (utility earnings model, forward price-to-earnings vs peers, justified price-to-book, residual income, dividend discount (two-stage)), the utility earnings model counting double.

Price vs value

Overvalued

The price is above our entire value range; our base value is 15% below it.

Price used: $116.90, November 2, 2026

WEC Energy Group valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 6 selling0 purchases and 15 sales by directors and officers, last 12 monthsInsider trades
  • Funds672 adding, 491 cuttingOf 70 active managers that changed their stake, 30 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter WEC Energy Group files

10-Q filed October 30: WEC Energy

Model value +4.6%

Revenue for the twelve months to September 2026 was $10.3bn, up 8.1% on a year earlier, slower than the 8.9% growth a quarter earlier. Free-cash-flow margin fell to -7.4% from -4.5% a year earlier. The diluted share count is up 2.3% on a year earlier, which dilutes existing holders. Our model value rises from $94.97 to $99.30 a share, against a share price of $116. The rating stays Sell.

Source: 10-Q filed October 30, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed August 4: WEC Energy

WEC Energy Group grew revenue 8.1% over the twelve months to June 2026, reaching $10.3bn, a pace that has eased from 8.9% growth a quarter earlier. Free-cash-flow margin deteriorated further, slipping to -7.4% from -4.5% a year earlier. Shareholders are also facing dilution, with the diluted share count up 2.3% on a year earlier. On the fundamentals, the grade edges up from C to C+. Our model value has risen accordingly, from $93.75 to $94.97 a share. Against a share price of $116, that still leaves a wide gap to fair value. The rating remains Sell.

10-Q on SEC EDGAR

Where WEC Energy stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $10.1bn, up 8.9% on a year earlier, slower than 11.2% a quarter earlier. Free-cash-flow margin fell to -13.5% from 1.6% a year earlier. Operating margin narrowed to 22.8% from 24.9%. The diluted share count is up 2.8% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 0 of our 6 financial-health checks. Our valuation models combined value is $94.63 a share, against a share price of $109.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 4, 2027 (estimated)

WEC Energy Group's trailing-twelve-month revenue grew 8.1% year on year, with a free-cash-flow margin of -7.4%. Where it stands out: net margin of 17.5% ranks 3 of 25 electric utilities companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 76.6% while net income grew 6.8%: a 83pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in WEC Energy Group's latest figures clears our strength thresholds.

Things to watch

  • Burning cash. Free cash flow was -7.4% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 2.3% in a year.
  • High debt. Long-term debt exceeds cash by $19.7bn, more than 1.5 times annual revenue.
  • Weak cash conversion. Free cash flow was -42% of net income over the last 12 months.
  • Below peers: days sales outstanding. Days sales outstanding of 50 days ranks 14 of 18 electric utilities companies we cover (median 45 days).

Latest results: FY2026 Q3

Filed October 30, 2026
Earnings per share
$1.18 against an average estimate of $0.98: beat by 20.5%
Revenue
$2.29bn, up 8.9% on a year earlier
Share reaction
+5.0% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Guidance given
earnings guidance $5.51 to $5.61 (2026)
Next report
October 29, 2026; average EPS estimate $1.29

WEC Energy Group's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.7%
  • 1 week+5.2%
  • 1 month+15.1%
  • This year+13.7%
  • 1 year+8.2%
  • 5 years+54.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$10.3B
Operating margin
23.5%
Net margin
17.5%
EPS (TTM, diluted)
$5.51

Growth

Revenue growth
+8.1%
Change in growth rate
−0.8 pts
Share count change
+2.3%

Cash

Free cash flow (TTM)
-$759M
FCF margin
-7.4%

Earnings

Last results
October 29, 2026
Next results (est.)
February 4, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results
  3. Dividend
  4. Announcement
  5. Agreement
  6. Leadership
  7. Announcement
  8. Announcement
  9. Results
  10. Guidance
  11. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

WEC Energy Group valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$99
Price used
$115.66close November 3, 2026
Implied change
▼ 14%
Uncertainty
Low

How we got here: the combined value of 5 valuation models built for a business like WEC Energy Group (see the models table below and how they are combined) , with a 7% cost of equity. The models span ~$76–~$110; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Valuation models

We value WEC Energy Group as an utility or power producer, with every model that fits that kind of business. Cost of equity 7%: the 10-year Treasury yield (4.9%) plus a beta of 0.4 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. ~$110 ~$94–$140 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$93 ~$92–$120 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$100 ~$81–$140 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$76 ~$55–$110 Included
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$98 ~$79–$130 Included
Combined value Weighted average of the models that apply: the primary model (utility earnings model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$99 ~$76–$110 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare WEC Energy Group with utilities and power producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$36.19$42.77$50.09$54.03$74.05$75.89$82.46$82.09$76.34$88.64$102.79$116.90
Market value$9.9bn$13.6bn$15.9bn$17.1bn$23.5bn$24.0bn$26.1bn$25.9bn$24.1bn$28.1bn$33.3bn$38.4bn
+ Net debt (− = net cash)$10.4bn$10.2bn$11.0bn$11.8bn$12.7bn$14.3bn$15.6bn$17.3bn$18.8bn$20.0bn$21.9bn$22.7bn
Enterprise value$20.2bn$23.7bn$26.9bn$28.9bn$36.1bn$38.3bn$41.7bn$43.2bn$42.9bn$48.1bn$55.2bn$61.1bn
Multiples
Price / sales 1.7x1.8x2.1x2.2x3.1x3.3x3.1x2.7x2.7x3.3x3.4x3.7x
Price / earnings 15.4x14.4x13.2x16.2x20.7x20.0x20.1x18.4x18.1x18.4x21.4x21.2x
Price / free cash flow n/m19.9x133.4xn/m————45.9x65.1x——
EV / EBITDA 11.2x9.6x10.5x12.5x14.7x14.3x14.9x14.2x13.5x13.7x14.8x15.4x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

51 /100

Moderate moat

How hard WEC Energy Group's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 3 / 20

    Net income has been a median 3.4% of total assets over 10 years.

  • Pricing power 18 / 20

    Gross margin has been a median 63.1%, moving by 3.7 percentage points (standard deviation) across 10 years.

  • Durability 17 / 20

    Operating margin has been a median 22.1%; its worst year was 19.1%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 3 of 10 years, at a median -2.3% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 3.9% over five years.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $5.60 +16% $10.2bn +4%
Next $6.01 +7% $10.9bn +6%

Next year's EPS estimate has moved −0.1% in 90 days, across 10 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.2% on 90 days ago. In the last 30 days, 1 analyst raised WEC Energy Group's forecast and 1 cut it.

Consensus EPS forecast WEC Energy Group, last 90 days
$5.40 $5.60 $5.80 $6.00 $6.20 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $5.59 Current fiscal year, 60 days ago: $5.60 Current fiscal year, 30 days ago: $5.60 Current fiscal year, 7 days ago: $5.60 Current fiscal year, Now: $5.60 $5.60 Next fiscal year, 90 days ago: $6.01 Next fiscal year, 60 days ago: $6.01 Next fiscal year, 30 days ago: $6.01 Next fiscal year, 7 days ago: $6.01 Next fiscal year, Now: $6.01 $6.01

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $5.59$6.01
60 days ago $5.60$6.01
30 days ago $5.60$6.01
7 days ago $5.60$6.01
Now $5.60$6.01

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.98 $1.18 +20.5%
Jun 2026 $0.81 $0.91 +12.3%
Mar 2026 $2.33 $2.45 +5.3%
Dec 2025 $1.38 $0.97 −29.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 29, 2026
  • earnings guidance 2026 $5.51 to $5.61 Maintained
    “The company is reaffirming its 2026 earnings guidance of $5.51 to $5.61 per share.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

20 analysts, Oct 2026
Buy840%
Hold1155%
Sell15%

Monthly trend

  1. Oct 2026261120
  2. Sep 2026261019
  3. Aug 2026261019
  4. Jul 202671120

Counts of recommendations published by analysts covering WEC Energy Group, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.0%
of tradable shares
Days to cover
5.02
at average volume
Short interest, 1 month
+6%
to October 15, 2026
Held by institutions
88%
of shares
Held by insiders
0.2%
of shares
Employees
7,151
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +8.2%

$108.04 on October 31, 2025 to $116.90

ThenNowEffect
Revenue (last 12 months) $9.3bn $10.1bn +8.9%
Net margin 17.9% 16.7% −6.6%
P/E multiple 20.7x 22.6x +9.4%
Share count 319m 328m −2.7%

Biggest factor: p/e multiple.

Last 3 years +55.0%

$75.41 on November 3, 2023 to $116.90

ThenNowEffect
Revenue (last 12 months) $9.3bn $10.1bn +9.2%
Net margin 14.6% 16.7% +14.5%
P/E multiple 17.6x 22.6x +28.5%
Share count 316m 328m −3.6%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
WEC+9%−1%−7%+16%+16%+14%
Industry peers (median)+19%+0%−4%+16%+16%+4%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
WEC50%58%67%50%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
WEC−12%−24%−21%−11%−11%−15%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 32% from March 6, 2020 to March 23, 2020. Getting back needed a 48% gain, reached on November 3, 2020, 225 days after the low.

Price behaviour

52-week range
$100.78 – $117.82
From 52-week high
−0.8%
vs 50-day average
+10.2%
vs 200-day average
+5.9%
Volatility (1 year)
17%
Beta vs S&P 500
-0.17

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±2.0%
After a week
5 up, 6 down
typical move ±2.6%
After a month
6 up, 5 down
typical move ±4.7%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 +5.0% −2.1% — —
July 29, 2026 −3.1% +0.1% −4.7% −5.6%
May 5, 2026 −2.1% +2.2% −3.3% −3.7%
February 5, 2026 −1.7% +0.6% +0.6% +2.9%
February 3, 2026 +3.2% −1.3% +2.8% +6.6%
January 5, 2026 −0.5% +1.3% −1.4% +6.4%
October 30, 2025 −2.5% −0.8% −3.3% −3.8%
July 30, 2025 +0.4% −0.5% +1.0% −1.3%
May 6, 2025 +0.8% −0.4% −4.7% −2.8%
February 4, 2025 +0.4% +1.1% +2.2% +4.2%
October 31, 2024 −0.5% −1.5% −0.7% +4.7%
July 31, 2024 +3.6% +0.2% +3.9% +9.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How WEC Energy Group’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

WEC Energy Group in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) WEC Energy Group
$8.5B $9B $9.5B $10B $10.5B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $8.9B Revenue (TTM), FY24 Q1: $8.7B Revenue (TTM), FY24 Q2: $8.6B Revenue (TTM), FY24 Q3: $8.5B Revenue (TTM), FY24 Q4: $8.6B Revenue (TTM), FY25 Q1: $9.1B Revenue (TTM), FY25 Q2: $9.3B Revenue (TTM), FY25 Q3: $9.5B Revenue (TTM), FY25 Q4: $9.8B Revenue (TTM), FY26 Q1: $10.1B Revenue (TTM), FY26 Q2: $10.1B Revenue (TTM), FY26 Q3: $10.3B $10.3B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $8.9B
FY24 Q1 $8.7B
FY24 Q2 $8.6B
FY24 Q3 $8.5B
FY24 Q4 $8.6B
FY25 Q1 $9.1B
FY25 Q2 $9.3B
FY25 Q3 $9.5B
FY25 Q4 $9.8B
FY26 Q1 $10.1B
FY26 Q2 $10.1B
FY26 Q3 $10.3B
Revenue growth, TTM YoY WEC Energy Group
-10% 0% 10% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -7.3% Revenue growth, TTM YoY, FY24 Q1: -9.3% Revenue growth, TTM YoY, FY24 Q2: -7.0% Revenue growth, TTM YoY, FY24 Q3: -7.6% Revenue growth, TTM YoY, FY24 Q4: -3.3% Revenue growth, TTM YoY, FY25 Q1: 4.4% Revenue growth, TTM YoY, FY25 Q2: 7.9% Revenue growth, TTM YoY, FY25 Q3: 11.9% Revenue growth, TTM YoY, FY25 Q4: 14.0% Revenue growth, TTM YoY, FY26 Q1: 11.2% Revenue growth, TTM YoY, FY26 Q2: 8.9% Revenue growth, TTM YoY, FY26 Q3: 8.1% 8.1%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -7.3%
FY24 Q1 -9.3%
FY24 Q2 -7.0%
FY24 Q3 -7.6%
FY24 Q4 -3.3%
FY25 Q1 4.4%
FY25 Q2 7.9%
FY25 Q3 11.9%
FY25 Q4 14.0%
FY26 Q1 11.2%
FY26 Q2 8.9%
FY26 Q3 8.1%
Operating margin (TTM) WEC Energy Group
21% 22% 23% 24% 25% 26% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 21.5% Operating margin (TTM), FY24 Q1: 23.6% Operating margin (TTM), FY24 Q2: 23.1% Operating margin (TTM), FY24 Q3: 22.3% Operating margin (TTM), FY24 Q4: 25.0% Operating margin (TTM), FY25 Q1: 25.1% Operating margin (TTM), FY25 Q2: 24.9% Operating margin (TTM), FY25 Q3: 25.0% Operating margin (TTM), FY25 Q4: 22.9% Operating margin (TTM), FY26 Q1: 22.7% Operating margin (TTM), FY26 Q2: 22.8% Operating margin (TTM), FY26 Q3: 23.5% 23.5%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 21.5%
FY24 Q1 23.6%
FY24 Q2 23.1%
FY24 Q3 22.3%
FY24 Q4 25.0%
FY25 Q1 25.1%
FY25 Q2 24.9%
FY25 Q3 25.0%
FY25 Q4 22.9%
FY26 Q1 22.7%
FY26 Q2 22.8%
FY26 Q3 23.5%
FCF margin (TTM) WEC Energy Group
-20% -10% 0% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 5.9% FCF margin (TTM), FY24 Q1: 7.5% FCF margin (TTM), FY24 Q2: 7.0% FCF margin (TTM), FY24 Q3: 4.8% FCF margin (TTM), FY24 Q4: 5.0% FCF margin (TTM), FY25 Q1: 5.2% FCF margin (TTM), FY25 Q2: 1.6% FCF margin (TTM), FY25 Q3: -4.5% FCF margin (TTM), FY25 Q4: -10.4% FCF margin (TTM), FY26 Q1: -10.7% FCF margin (TTM), FY26 Q2: -13.5% FCF margin (TTM), FY26 Q3: -7.4% -7.4%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 5.9%
FY24 Q1 7.5%
FY24 Q2 7.0%
FY24 Q3 4.8%
FY24 Q4 5.0%
FY25 Q1 5.2%
FY25 Q2 1.6%
FY25 Q3 -4.5%
FY25 Q4 -10.4%
FY26 Q1 -10.7%
FY26 Q2 -13.5%
FY26 Q3 -7.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar WEC Energy Group took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $9.8B
  2. Cost of revenue $3.3B · 33.3%
  3. Gross profit $6.5B · 66.7%
  4. Other operating costs $4.3B · 43.8%
  5. Operating income $2.2B · 22.9%
  6. Income tax $118M · 1.2%
  7. Interest and other $569M · 5.8%
  8. Net income $1.6B · 15.9%

Shares of revenue. Source: WEC Energy Group's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 4.5 4.2 4.5 5.0 5.9 7.5 7.6 7.7 7.5 7.2 8.3 9.6 8.9 8.6 9.8 10.3
Gross profit — — 2.7 2.7 3.7 4.8 4.8 4.8 4.8 4.9 5.0 5.2 5.7 5.9 6.5 6.8
EBITDA 1.2 1.4 1.4 1.5 1.8 2.5 2.6 2.3 2.5 2.7 2.8 3.0 3.2 3.5 3.7 4.0
Operating income 0.9 1.0 1.1 1.1 1.3 1.7 1.8 1.5 1.5 1.7 1.7 1.9 1.9 2.2 2.2 2.4
Net income 0.5 0.5 0.6 0.6 0.6 0.9 1.2 1.1 1.1 1.2 1.3 1.4 1.3 1.5 1.6 1.8
Diluted EPS $2.24 $2.35 $2.51 $2.59 $2.34 $2.96 $3.79 $3.34 $3.58 $3.79 $4.11 $4.45 $4.22 $4.83 $4.81 $5.51
Growth (year on year)
Revenue — −5.3% +6.4% +10.6% +18.6% +26.1% +2.4% +0.4% −2.0% −3.7% +14.8% +15.4% −7.3% −3.3% +14.0% +8.1%
EBITDA — +12.1% +4.1% +5.9% +20.5% +35.7% +4.7% −10.1% +6.2% +9.1% +4.0% +9.2% +4.1% +10.6% +6.2% +3.4%
Operating income — +12.7% +8.0% +3.0% +12.4% +35.6% +4.7% −17.3% +4.3% +11.4% +0.5% +12.2% −0.8% +12.8% +4.3% +2.0%
Net income — +3.8% +5.9% +1.9% +8.6% +46.6% +28.2% −12.0% +7.1% +5.8% +8.4% +8.3% −5.4% +14.7% +2.0% +6.8%
Diluted EPS — +4.9% +6.8% +3.2% −9.7% +26.5% +28.0% −11.9% +7.2% +5.9% +8.4% +8.3% −5.2% +14.5% −0.4% +4.4%
Margins
Gross margin — — 59.6% 54.8% 62.2% 64.6% 63.1% 62.3% 64.4% 68.0% 60.2% 54.6% 64.1% 69.1% 66.7% 65.9%
EBITDA margin 27.1% 32.1% 31.4% 30.1% 30.6% 32.9% 33.7% 30.1% 32.7% 37.0% 33.5% 31.7% 35.7% 40.8% 38.0% 38.4%
Operating margin 19.8% 23.6% 23.9% 22.3% 21.1% 22.7% 23.2% 19.1% 20.4% 23.6% 20.6% 20.0% 21.5% 25.0% 22.9% 23.5%
Net margin 11.7% 12.9% 12.8% 11.8% 10.8% 12.6% 15.7% 13.8% 15.1% 16.6% 15.6% 14.7% 15.0% 17.8% 15.9% 17.5%
Free-cash-flow margin 3.6% 11.0% 11.2% 8.7% 0.5% 9.1% 1.6% 0.4% −2.4% −9.4% −4.1% −6.6% 5.9% 5.0% −10.4% −7.4%
Cash flow
Cash from operations 1.0 1.2 1.2 1.2 1.3 2.1 2.1 2.4 2.3 2.2 2.0 2.1 3.0 3.2 3.4 3.8
Capital spending 0.8 0.7 0.7 0.8 1.3 1.4 2.0 2.4 2.5 2.9 2.4 2.7 2.5 2.8 4.4 4.6
Free cash flow 0.2 0.5 0.5 0.4 0.0 0.7 0.1 0.0 −0.2 −0.7 −0.3 −0.6 0.5 0.4 −1.0 −0.8
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 —
Free cash flow after stock pay 0.1 0.4 0.5 0.4 0.0 0.7 0.1 −0.0 −0.2 −0.7 −0.4 −0.7 0.5 0.4 −1.1 —
Balance sheet
Cash 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1
Total debt 5.3 5.3 5.2 5.3 10.4 10.2 11.1 11.9 12.7 14.3 15.6 17.3 18.8 20.0 21.9 22.8
Net debt (negative = net cash) 5.3 5.2 5.2 5.2 10.4 10.2 11.0 11.8 12.7 14.3 15.6 17.3 18.8 20.0 21.9 22.7
Diluted shares 235m 233m 230m 228m 273m 317m 317m 317m 317m 317m 316m 316m 316m 317m 324m 329m
Returned to shareholders
Dividends 0.2 0.3 0.3 0.4 0.5 0.6 0.7 0.7 0.7 0.8 0.9 0.9 1.0 1.1 1.1 1.2
Buybacks 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.1 0.0 0.0 0.0 —
Total returned 0.4 0.4 0.6 0.5 0.5 0.7 0.7 0.8 0.9 0.9 0.9 1.0 1.0 1.1 1.1 1.2

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 6 checks passed · September 30, 2026
What it owns · $53.9bn
Short-term assets $2.8bnLonger-term assets $51.1bn
What it owes, and who funded it · $20.2bn
Short-term liabilities $5.2bnShareholders' equity $15.0bn
  • Short-term assets cover short-term liabilities $2.8bn of assets due within a year against $5.2bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $59m of cash against $20.9bn of debt.
  • Debt below 40% of shareholders' equity Debt is 139% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 118% to 139% over five years.
  • A year's operating cash flow covers at least 20% of debt $3.8bn of operating cash flow against $20.9bn of debt.
  • Operating profit covers interest at least five times over Operating income of $2.4bn against $927m of interest.

From WEC Energy Group's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$1.3M
Dividends (TTM)
$1.2B
Returned to shareholders
-113%
of free cash flow
Buybacks, last 3 fiscal years
$21.1M
Diluted share count
+2.3%
year over year
Dividend payout ratio
68%
of net income paid out
Days sales outstanding
50 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in electric utilities
Last 12 months unless stated WEC PPL FTS PEG ETR CIG Median
Revenue, last 12 months $10.3bn $9.4bn $8.7bn $12.3bn $13.5bn $7.7bn $9.4bn
Revenue growth, last 12 months 8.1% 6.7% 3.7% 5.3% 9.5% 3.2% 6.4%
Revenue growth, 3-year average 3.8% 2.8% — 1.6% 0.4% — 3.7%
Revenue growth, latest quarter 8.9% 4.2% — −6.4% 5.9% — 4.3%
Gross margin 65.9% — 72.3% 66.5% — 16.9% 65.9%
Operating margin 23.5% 24.1% 28.7% 21.6% 22.9% — 22.3%
Operating margin, 3-year average 23.6% 22.3% 28.4% 23.8% 22.9% — 22.4%
Net margin 17.5% 13.5% 14.1% 14.3% 13.3% 11.5% 13.3%
Cash from operations / revenue 37.2% 28.2% 33.4% 26.4% 45.1% 9.5% 27.0%
Free-cash-flow margin −7.4% −21.2% −17.8% −1.4% −22.0% 7.9% −10.0%
Free-cash-flow margin, 3-year average −2.3% −12.7% −8.7% −3.8% −18.8% 6.9% −8.2%
Stock pay / revenue — 0.5% 0.0% — — — 0.4%
Change in share count 2.3% 1.3% 1.7% 0.0% 4.9% — 1.7%

Median of all 25 companies we cover in electric utilities. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

25 electric utilities companies
Measure Company Peer median Rank
Revenue growth Growth 8.1% 6.4% 8 of 25
Change in growth rate Growth -0.8pp -0.1pp 16 of 25
Gross margin Profitability 65.9% 65.9% 3 of 6
Operating margin Profitability 23.5% 22.5% 9 of 24
Net margin Profitability 17.5% 13.3% 3 of 25
Free-cash-flow margin Cash generation -7.4% -10.0% 11 of 24
Long-term debt as % of assets Balance sheet 36.6% 40.9% 7 of 24
Change in share count Balance sheet 2.3% 1.7% 14 of 23
Days sales outstanding Balance sheet 50 days 45 days 14 of 18

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Public Utility $9.5B ▲ 13.4%
Wisconsin $7.3B ▲ 15.2%
Illinois $1.7B ▲ 5.1%
Non Utility Energy Infrastructure $770M ▲ 11.4%
Other States $528M ▲ 17.3%
Corporate and Other $0 —

These categories overlap or exclude eliminations, so shares aren't shown.

From WEC Energy Group's 10-K filed February 20, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$32.5B
Institutions reporting
1,389
Shares held vs prior quarter
▲ 0.4%
Positions opened / closed
100 / 81

Top buyers and sellers, Q2 2026: 672 institutions bought and 491 sold ; the biggest buyer was Barclays PLC (+1.8M shares) and the biggest seller Wellington Management Group LLP (−1.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $3.9B 33.3M 12.0% ▲ 0.8%
Vanguard Capital Management LLC $2.5B 21.3M 7.6% ▲ 0.5%
State Street Corp $2.5B 21.1M 7.6% ▼ 0.7%
Vanguard Portfolio Management LLC $2B 16.9M 6.1% ▲ 0.6%
Geode Capital Management, LLC $1.1B 9.2M 3.3% ▲ 1.5%
Bank Of America Corp $1B 8.6M 3.1% ▲ 8.0%
Wells Fargo & Company $1B 8.6M 3.1% ▲ 0.1%
Deutsche Bank Ag\ $707M 6.1M 2.2% ▲ 2.1%
Ameriprise Financial Inc $681M 5.8M 2.1% ▲ 2.7%
Charles Schwab Investment Management Inc $630M 5.4M 1.9% ▼ 1.0%
Jpmorgan Chase & Co $611M 5.2M 1.9% ▼ 6.6%
Franklin Resources Inc $545M 4.7M 1.7% ▲ 5.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not WEC Energy Group's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $5.9M 15 trades by 6 insiders · 0% under pre-set plans
Net ▼ $5.9M net selling
Insider Date Trade Shares Price Value
Payne Ulice Jr Director August 11, 2026 Sell 980 $105.58 $103,468
Krueger Daniel EVP WEC Infrastructure May 19, 2026 Sell 2,000 $110.85 $221,700
Krueger Daniel EVP WEC Infrastructure May 19, 2026 Sell 1,665 $111.11 $184,998
Krueger Daniel EVP WEC Infrastructure May 19, 2026 Sell 1,000 $110.92 $110,920
Payne Ulice Jr Director February 24, 2026 Sell 1,450 $114.60 $166,170
Klappa Gale E Director February 23, 2026 Sell 3,180 $115.44 $367,099
Klappa Gale E Director February 17, 2026 Sell 5,000 $116.55 $582,750
Straka Mary Beth Sr. VP-Corp Comm & Inv Rel February 13, 2026 Sell 2,815 $115.50 $325,132
Klappa Gale E Director February 13, 2026 Sell 5,000 $115.46 $577,300
Klappa Gale E Director February 13, 2026 Sell 5,000 $115.50 $577,500
Klappa Gale E Director February 13, 2026 Sell 5,000 $115.45 $577,250
Klappa Gale E Director February 13, 2026 Sell 5,000 $115.41 $577,050

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 19 trades and filings

No trades in WEC Energy Group disclosed in the last 12 months; 19 earlier trades on record.

  • Julie Johnson(D-TX 32):Sale (full), $1,001 - $15,000, traded September 25, 2025, filed October 7, 2025
  • Julie Johnson(D-TX 32):Purchase, $1,001 - $15,000, traded September 23, 2025, filed August 5, 2026
  • Julie Johnson(D-TX 32):Sale (full), $1,001 - $15,000, traded September 23, 2025, filed August 5, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 4, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 29, 2026
  • May 5, 2026
  • February 5, 2026
  • February 3, 2026
  • January 5, 2026

Recent SEC filings

Data status

When each part of this page on WEC Energy Group was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

WEC Energy Group in brief

What does WEC Energy Group do?
WEC Energy Group is a US-listed company in the electric utilities industry. Its financial year ends in December.
What is WEC Energy Group's stock ticker?
WEC Energy Group trades under the ticker WEC on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is WEC Energy Group's revenue, and how fast is it growing?
Over its most recent trailing twelve months, WEC Energy Group reported revenue of $10.3B, 8.1% higher than a year earlier, according to its SEC filings.
What is WEC Energy Group's free cash flow?
WEC Energy Group's free-cash-flow margin is -7.4% of revenue over the trailing twelve months, ranking 11 of the 24 electric utilities companies we cover.
Who are WEC Energy Group's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is WEC Energy Group buying back stock, and does it pay a dividend?
WEC Energy Group spent $1.3M on share repurchases over the trailing twelve months, and its diluted share count still rose 2.3% over the year.
What is WEC Energy Group's market cap?
On November 2, 2026, WEC Energy Group's market capitalisation was about $38.4B, with a price-to-earnings ratio of 21.2 and net debt of $22.7B. Market figures come from third-party market data and may be delayed.
Does WEC Energy Group pay a dividend?
Yes: WEC Energy Group paid $1.2B in dividends over the trailing twelve months and a payout ratio of 67.5%.
How much debt does WEC Energy Group have?
WEC Energy Group's debt-to-equity ratio is 138.9%, from its latest balance sheet (118.1% five years earlier). The financial health section below sets out its other solvency checks.
Who are WEC Energy Group's competitors?
In our Electric Utilities peer group, the companies closest to WEC Energy Group are PPL Corporation, Fortis Inc., Public Service Enterprise Group, Entergy and Energy Co Of Minas Gerais. The side-by-side comparison below sets their revenue, margins and growth against WEC Energy Group's.
Are insiders buying or selling WEC Energy Group stock?
Over the last 12 months, WEC Energy Group's directors and officers reported 0 open-market purchases and 15 sales on Form 4. The insider trading page charts every trade.
When is WEC Energy Group's next earnings date?
Around February 4, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — WEC Energy Group announces its own schedule.