WEC Energy Group, Inc.WEC
NYSE•Utilities•Utilities - Regulated Electric
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.
WEC Energy Group, Inc. (WEC) reported trailing twelve months revenue of $10.08B as of March 2026, a 11.2% increase year-over-year. Quarterly revenue reached $3.43B, reflecting continued top-line momentum.
WEC Energy Group, Inc. generated $1.64B in TTM net income, with quarterly EBITDA of $1.36B. The operating margin contracted from 29.8% to 28.5%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (28.5%) and net margin (23.4%) indicates moderate non-operating costs. Net margin has improved from 23.0% a year ago, signaling stronger bottom-line efficiency.
WEC trades at a P/E of 23.1x (in line with broad market averages) and a P/S of 3.8x. The price-to-book ratio of 2.7x reflects a moderate premium to book value.
The company generated $400.50M in free cash flow over the trailing twelve months, a 13.2% decrease year-over-year, indicating cash generation ability. The balance sheet shows $51.73B in total assets with $19.38B in long-term debt against $14.16B in stockholders equity for a debt-to-equity ratio of 1.4. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~23.7% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~11.9% on average, adequate but below the threshold typically associated with wide moats.
Only 4 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (6 of 7 quarters up), with ~16.9% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~23.3% — no sign of cost or pricing stress.
Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 1.4 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
4 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.
Shares outstanding rose 3.8% — mild dilution. Compare to earnings growth to assess net per-share impact.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation