WEC Energy Group key statistics and ratios

In fiscal 2025, WEC Energy Group had return on equity of 11.6%, an operating margin of 22.9%, debt equal to 156.1% of equity and a current ratio of 0.59. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

WEC Energy Group: financial ratios, annual
Fiscal year	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
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%
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%
Return on equity	13.3%	13.4%	13.7%	13.5%	9.7%	10.6%	13.0%	11.0%	11.3%	11.5%	11.9%	12.4%	11.2%	12.3%	11.6%	12.5%
Return on assets	3.8%	3.9%	4.0%	4.0%	2.9%	3.2%	3.9%	3.3%	3.3%	3.3%	3.4%	3.5%	3.1%	3.3%	3.2%	3.4%
Asset turnover	0.32	0.30	0.31	0.34	0.27	0.25	0.25	0.24	0.22	0.20	0.22	0.24	0.21	0.19	0.20	0.20
Current ratio	1.05	0.88	1.04	0.77	0.81	0.89	0.57	0.67	0.66	0.50	0.71	0.69	0.55	0.60	0.59	0.53
Debt to equity	134.2%	126.3%	123.0%	118.1%	119.9%	114.0%	116.7%	120.4%	124.2%	134.0%	140.3%	148.9%	155.7%	156.4%	156.1%	151.6%
Interest cover (operating income ÷ interest)	3.8x	4.0x	4.3x	4.6x	3.8x	4.2x	4.3x	3.3x	3.1x	3.5x	3.6x	3.7x	2.6x	2.6x	2.5x	2.6x
Effective tax rate	34.0%	35.9%	36.9%	38.0%	40.4%	37.6%	24.1%	13.8%	9.9%	15.9%	13.4%	18.6%	13.3%	12.7%	7.1%	6.7%
Capital spending as % of revenue	18.5%	16.6%	16.0%	15.2%	21.4%	19.1%	25.6%	31.5%	33.6%	39.7%	28.5%	28.1%	28.0%	32.3%	44.9%	44.5%
Free cash flow ÷ net income	30.9%	85.5%	87.4%	74.0%	4.5%	72.4%	9.9%	2.7%	−16.2%	−56.5%	−26.1%	−45.2%	39.5%	28.2%	−65.4%	−42.0%
Dividends ÷ net income	46.0%	50.6%	56.8%	59.7%	71.1%	66.5%	54.5%	65.8%	65.7%	66.5%	65.7%	65.2%	73.9%	69.2%	73.7%	67.5%
Dividends and buybacks ÷ free cash flow	268.1%	92.0%	109.2%	108.9%	>999%	107.8%	611.1%	>999%	—	—	—	—	190.4%	246.0%	—	—

US$ thousands unless shown otherwise. Fiscal quarters.

WEC Energy Group: financial ratios, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Gross margin	67.7%	63.0%	71.6%	71.1%	63.7%	59.5%	73.1%	71.6%
Operating margin	25.9%	29.8%	20.1%	21.4%	17.9%	28.5%	21.0%	24.6%
Net margin	19.9%	23.0%	12.2%	12.9%	12.5%	23.4%	14.5%	17.0%
Free-cash-flow margin	−11.6%	14.7%	1.2%	−30.9%	−33.6%	11.7%	−13.1%	−1.6%
Current ratio	0.60	0.50	0.55	0.50	0.59	0.68	0.53	0.53
Debt to equity	147.7%	140.7%	141.6%	139.6%	142.4%	136.6%	141.6%	138.9%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

Compare with peers

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Figures from WEC Energy Group's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to WEC Energy Group.