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WEC Energy Group, Inc. (WEC)

NYSE / Utilities / Regulated Electric

Share price

106.04 USD Market dataClose of Oct 15, 2026

Market capitalisation

34.55B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Feb 20, 2026
Ratios computed
Oct 15, 2026
Filed years
11, FY2015 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

n/a Computed

From the FY2025 filing

Why n/a

No shareholders equity line is filed for this year.

Read quality

Valuation

Price to earnings

21.91x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

-3.0% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2016 Revenue: 7.47B USDFY2016 Net income: 939.0M USDFY2017 Revenue: 7.65B USDFY2017 Net income: 1.20B USDFY2018 Revenue: 7.68B USDFY2018 Net income: 1.06B USDFY2019 Revenue: 7.52B USDFY2019 Net income: 1.13B USDFY2020 Revenue: 7.24B USDFY2020 Net income: 1.20B USDFY2021 Revenue: 8.32B USDFY2021 Net income: 1.30B USDFY2022 Revenue: 9.60B USDFY2022 Net income: 1.41B USDFY2023 Revenue: 8.89B USDFY2023 Net income: 1.33B USDFY2024 Revenue: 8.60B USDFY2024 Net income: 1.52B USDFY2025 Revenue: 9.80B USDFY2025 Net income: 1.56B USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
0 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 21.91x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 15.00x and 25.00x.

Today, against the Regulated Electric industry (36 companies), 21.91x sits at the 66th percentile; the middle half of that group runs from 18.21x to 22.76x.

Is it safe

Interest coverage was 2.51x in FY2025, in the band labelled "Speculative grade" (1.50x to 3.00x), on lines anchored on Damodaran's interest-coverage table.

Year by year against peers
Whether WEC Energy Group, Inc.'s operating margin stayed above the median of the Utilities sector, year by year. (FY2019 to FY2025, 7 fiscal years of WEC Energy Group, Inc. with a comparable figure)
The direction
Which way WEC Energy Group, Inc.'s gross margin has moved, and how steadily. (FY2016 to FY2025, 10 filed years of WEC Energy Group, Inc.)
What could explain it
What in WEC Energy Group, Inc.'s filed statements could explain the movements. (6 readings drawn from the statement lines WEC Energy Group, Inc. filed)
What to check next
What to check next on WEC Energy Group, Inc., and where in its filings. (8 questions for WEC Energy Group, Inc.)
In one paragraph
One paragraph on WEC Energy Group, Inc.'s returns, cash, balance sheet and price. (13 of sixteen figures read for WEC Energy Group, Inc.)

These are WEC’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research WECPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Feb 20, 2026, accession 0000783325-26-000018.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

WEC Energy Group, Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax
Why n/a

No shareholders equity line is filed for this year.

n/a ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Return on equity
Why n/a

No shareholders equity line is filed for this year.

n/a ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Return on capital employed, pre-tax4.9% ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Return on assets3.0% ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Gross margin66.7% ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Operating margin22.9% ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Net margin15.9% ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
WEC 15.9%
FTS 16.1%AEE 16.6%DUK 15.7%ES 12.6%ETR 13.7%
12.6%16.6%
Net margin: WEC against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

WEC Energy Group, Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity
Why n/a

No shareholders equity line is filed for this year.

n/a ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Current ratio0.59 ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Quick ratio0.59 ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Interest coverage2.51x ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Altman Z-score1.06 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Net debt22.36B ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Total assets 51.52BTotal liabilities 37.47BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What WEC Energy Group, Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Feb 20, 2026, 0000783325-26-000018).

WEC Energy Group, Inc: balance sheet position
Total assets51.52B FiledFY2025 10-K, filed Feb 20, 2026
Total liabilities37.47B FiledFY2025 10-K, filed Feb 20, 2026
Shareholders' equityn/a FiledFY2025 10-K, filed Feb 20, 2026
Cash27.6M FiledFY2025 10-K, filed Feb 20, 2026
Total debt22.39B FiledFY2025 10-K, filed Feb 20, 2026
Net debt22.36B
Current ratio0.59
Debt to equityn/a
  • Shareholders' equity: The 2025 balance sheet files equity only as one total for the parent's shareholders and the minority holders together (14.05bn). The parent's share is not filed on its own, so equity, debt against equity and return on equity are left blank rather than divided by money that belongs to other owners.
  • Debt to equity: FY2025: No shareholders equity line is filed for this year.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

WEC Energy Group, Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings21.91x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
P/E on trailing twelve months20.41x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Price to sales3.50x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Enterprise value to EBIT25.26x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Enterprise value to EBITDA15.23x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Price to earnings over growth4.42 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Diluted earnings per share4.81 USD FiledFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Graham number
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018

We publish no fair value or price target of our own. Value WEC on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for WEC Energy Group, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

WEC Energy Group, Inc: valuation
Share price106.04 USD
Market capitalisation34.55B USD
Enterprise value to EBITDA15.23x
Graham numbern/a
Diluted earnings per share, FY20254.81 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Aug 4, 2017: low 15.03x, median 21.99x, high 29.82x, latest 20.41x. 2,309 trading days with a meaningful ratio. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like WEC Energy Group, Inc

  1. Fortis Inc. (FTS)Market cap 27.93B USD
  2. Ameren Corporation (AEE)Market cap 28.71B USD
  3. Duke Energy Corporation (DUK)Market cap 92.69B USD
  4. Eversource Energy (ES)Market cap 24.86B USD
  5. Entergy Corporation (ETR)Market cap 49.67B USD

Same industry (Regulated Electric) and size band (Large, 10B to 200B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

WEC Energy Group, Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield-3.0% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Free cash flow-1.02B USD ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Free cash flow margin-10.4% ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Dividend yield3.5% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Payout ratio73.8% ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
FY2016 Free cash flow: 680.1M USDFY2016 Net income: 939.0M USDFY2017 Free cash flow: 119.1M USDFY2017 Net income: 1.20B USDFY2018 Free cash flow: 28.4M USDFY2018 Net income: 1.06B USDFY2019 Free cash flow: -183.5M USDFY2019 Net income: 1.13B USDFY2020 Free cash flow: -678.3M USDFY2020 Net income: 1.20B USDFY2021 Free cash flow: -340.0M USDFY2021 Net income: 1.30B USDFY2022 Free cash flow: -636.2M USDFY2022 Net income: 1.41B USDFY2023 Free cash flow: 525.5M USDFY2023 Net income: 1.33B USDFY2024 Free cash flow: 430.7M USDFY2024 Net income: 1.52B USDFY2025 Free cash flow: -1.02B USDFY2025 Net income: 1.56B USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

WEC Energy Group, Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
21.91xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a The filed balance sheet reports no shareholders equity.
25.26xFY2025Oct 15, 2026
-3.0%FY2025Oct 15, 2026
n/aFY2025Feb 20, 2026
n/a No shareholders equity line is filed for this year.
3.5%FY2025Oct 15, 2026
n/aFY2025Feb 20, 2026
n/a No shareholders equity line is filed for this year.
0.59FY2025Feb 20, 2026
3.50xFY2025Oct 15, 2026
4.42FY2025Oct 15, 2026
1.06FY2025Oct 15, 2026
-2.46FY2025Feb 20, 2026
5/9FY2025Feb 20, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 11 filed fiscal years on record, FY2015 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2025, read from the annual reports WEC Energy Group, Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.

WEC Energy Group, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20259.80B2.24B1.56B4.81-1.02B22.9%n/a10-K, Feb 20, 20260000783325-26-000018
FY20248.60B2.15B1.52B4.83430.7M25.0%n/a10-K, Feb 21, 20250000107815-25-000103
FY20238.89B1.91B1.33B4.22525.5M21.5%n/a10-K, Feb 22, 20240000107815-24-000095
FY20229.60B1.92B1.41B4.45-636.2M20.1%n/a10-K, Feb 23, 20230000107815-23-000100
FY20218.32B1.71B1.30B4.11-340.0M20.6%n/a10-K, Feb 24, 20220000107815-22-000116
FY20207.24B1.71B1.20B3.79-678.3M23.6%n/a10-K, Feb 25, 20210000107815-21-000079
FY20197.52B1.53B1.13B3.58-183.5M20.4%n/a10-K, Feb 27, 20200000107815-20-000089
FY20187.68B1.47B1.06B3.3428.4M19.1%10.8%10-K, Feb 26, 20190000107815-19-000128
FY20177.65B1.78B1.20B3.79119.1M23.2%12.7%10-K, Feb 28, 20180000107815-18-000134
FY20167.47B1.70B939.0M2.96680.1M22.7%10.5%10-K, Feb 28, 20170000107815-17-000104
  • Revenue, compound annual growth FY2016 to FY2025: 3.1%
  • Earnings, compound annual growth FY2016 to FY2025: 5.8%
  • Earnings per share, compound annual growth FY2016 to FY2025: 5.5%
  • Free cash flow: Free cash flow was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

WEC Energy Group, Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.46 ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Piotroski F-score5/9 ComputedFY2025 10-K, filed Feb 20, 2026, 0000783325-26-000018
Named tests met0 of 30 Computed
Beta0.04 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 0 met, 21 not met, 9 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
None of the named tests.
Does not
Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Cash-covered dividend; Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
Defensive investor (Benjamin Graham); Deep value; High returns and growth; Low beta, profitable; ROIC at or above WACC; P/E times P/B (Benjamin Graham); High returns, low debt; Book or below, low debt (Walter Schloss); Cheapest quarter on P/B (David Dreman). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(9)
  • Current Ratio: Graham set this test for industrial companies; for utilities he tested debt against equity.
  • Debt to Equity: No shareholders equity line is filed for this year.
  • P/B Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Return on Invested Capital: No shareholders equity line is filed for this year.
  • Altman Z-Score: Altman fitted the Z-score on manufacturers; it is not measured for a utility.
  • Return on Equity: No shareholders equity line is filed for this year.
  • ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
  • Price To Graham: We do not hold this figure for this company, so there is nothing to show.
  • Price Tangible Book: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 9 figures could not be read on this company, among them Current Ratio, Debt to Equity, P/B Ratio. Each blank in the table above names the rest, with its reason. 9 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

No card. 30 free days, and nothing is charged unless you choose a plan.

Analyze your own portfolio

ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.