WEC ENERGY GROUP, INC.

10-K & 10-Q Filings

WEC Energy Group, Inc. is a diversified holding company based in Milwaukee, Wisconsin. It was incorporated in 1981 and became a holding company in 1986. The company provides regulated natural gas and electricity, and renewable energy through its subsidiaries. Its wholly owned subsidiaries include Wisconsin Electric Power Company (WE), Wisconsin Public Service Corporation (WPS), Upper Michigan Energy Resources Corporation (UMERC), and American Transmission Company (ATC). WEC Energy Group has an approximately 60% equity interest in ATC. The company's business strategy is to provide a diverse generation portfolio that balances a stable, reliable, and affordable supply of electricity with environmental stewardship. It generates and distributes electric energy to customers in Wisconsin, Michigan, and other states, and provides steam to customers in metropolitan Milwaukee, Wisconsin. WEC Energy Group also participates in the Midcontinent Independent System Operator (MISO) Energy Markets to buy and sell electric power. The company's electric utility operations include the Wisconsin segment, which includes WE, WPS, and UMERC. The Wisconsin segment generates and distributes electric energy to retail, wholesale, and resale customers, and distributes steam to customers in metropolitan Milwaukee. The company's electric sales were approximately 92.9% retail, 2.4% wholesale, and 3.9% resale in 2023. WEC Energy Group's electric generation strategy includes a diverse mix of company-owned generation, power purchase contracts, and purchased power from the MISO Energy Markets. The company's electric generation portfolio includes coal, natural gas, steam turbine, and renewable energy sources. WEC Energy Group aims to reduce carbon emissions from its electric generation fleet by 60% by the end of 2025 and by 80% by the end of 2030, and plans to retire approximately 3,700 MWs of fossil-fueled generation by the end of 2031. The company's website is www.wecenergygroup.com, and its common stock is traded on the New York Stock Exchange under the ticker symbol "WEC."

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$4486.40
4246.40
4567.00
5014.50
5926.10
7472.30
7648.50
7679.50
7523.10
7241.70
8316.00
9597.40
8893.00
2888.10
2680.20
5.87%-7.20%Cost of Revenue (-)
$
1223.30
2240.10
2647.40
2822.80
2897.90
2678.80
2319.50
3311.00
4358.90
3191.20
1309.70
927.10
-29.21%Gross Profit (+)
$
3791.20
3686.00
4824.90
4825.70
4781.60
4844.30
4922.20
5005.00
5238.50
5701.80
1578.40
1753.10
11.07%Selling, General & Administrative (-)
$
121.40
116.70
121.80
164.40
194.70
194.90
196.90
201.80
208.00
210.30
253.70
250.20
69.60
75.50
8.48%Depreciation & Amortization (-)
$330.20
364.20
388.10
408.80
561.80
762.60
798.60
845.80
926.30
975.90
1074.30
1122.60
1264.20
305.50
333.40
11.84%9.13%Non-recurring Operating Expenses (-)
$
178.90
Operating Expenses (-)
$3599.10
3246.10
3486.90
3902.40
2435.50
3142.80
3040.50
3313.20
3312.90
3216.10
3290.10
3314.30
3793.80
909.10
939.70
0.44%3.37%Costs & Expenses (Total) (-)
$3599.10
3246.10
3486.90
5125.70
4675.60
5790.20
5863.30
6211.10
5991.70
5535.60
6601.10
7673.20
6985.00
2218.80
1866.80
5.68%-15.86%Operating Income/Loss (+)
$887.30
1000.30
1080.10
1112.10
1250.50
1682.10
1785.20
1468.40
1531.40
1706.10
1714.90
1924.20
1908.00
669.30
813.40
6.59%21.53%Non-operating Income/Expense (+)
$62.70
100.30
87.20
79.30
-176.40
-175.40
-196.80
-238.10
-271.70
-276.80
-216.10
-191.60
-371.70
-87.60
-103.10
-17.69%Interest Expense (-)
$235.80
248.20
252.10
241.50
331.40
402.70
415.70
445.10
501.50
493.70
471.10
515.10
726.90
172.20
192.00
9.84%11.50%Earnings before Tax (+)
$776.70
852.60
915.30
950.00
1074.10
1506.70
1588.40
1230.30
1259.70
1429.30
1498.80
1732.60
1536.30
581.70
710.30
5.85%22.11%Tax Expense (-)
$263.90
306.30
337.90
361.70
433.80
566.50
383.50
169.80
125.00
227.90
200.30
322.90
204.60
74.10
87.70
-2.10%18.35%Income/Loss (Continuing Operations) (+)
$512.80
546.30
577.40
588.30
640.30
940.20
1204.90
1060.50
1134.70
1201.40
1298.50
1409.70
1331.70
507.60
622.60
8.28%22.66%Income/Loss (Discontinued Operations) (+)
$13.40
Profit/Loss (+)
$
1134.70
1201.40
1298.50
1409.70
1331.70
507.60
622.60
22.66%Net Income/Loss (NCI) (-)
$
-0.50
0.30
-3.00
0.40
-1.20
-0.20
Net Income/Loss (+)
$526.20
546.30
577.40
588.30
638.50
939.00
1203.70
1059.30
1134.00
1199.90
1300.30
1408.10
1331.70
507.50
622.30
8.04%22.62%Preferred & Other Distributions (-)
$
1.20
1.20
1.20
1.20
0.30
0.30
0.00%Net Income/Loss (Common) (+)
$526.20
546.30
577.40
588.30
638.50
939.00
1203.70
1059.30
1134.00
1199.90
1300.30
1408.10
1331.70
507.50
622.30
8.04%22.62%EPS (Basic)
$2.26
2.37
2.54
2.61
2.36
2.98
3.81
3.36
3.60
3.80
4.12
4.46
4.22
1.61
1.97
5.34%22.36%EPS (Diluted)
$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
1.61
1.97
5.42%22.36%Weighted Avg Shares (Basic)
232.60
230.20
227.60
225.60
271.10
315.60
315.60
315.50
315.40
315.40
315.40
315.40
315.40
315.40
315.60
2.57%0.06%Weighted Avg Shares (Diluted)
235.40
232.80
229.70
227.50
272.70
316.90
317.20
316.90
316.70
316.50
316.30
316.10
315.90
315.90
315.90
2.48%0.00%Cash
$
37.50
38.90
84.50
37.50
24.80
16.30
28.90
42.90
35.70
38.90
8.96%Receivables
$
1241.70
1350.70
1280.90
1176.50
1202.80
1505.70
1818.40
1503.20
1780.60
1557.00
-12.56%Prepaid Expenses (Current)
$
204.40
210.00
256.80
261.80
263.40
245.50
271.60
250.70
217.90
213.90
-1.84%Other Assets (Current)
$
685.10
613.90
625.40
617.80
592.00
889.20
1068.80
998.90
804.30
794.80
-1.18%Assets (Current)
$1426.20
1313.90
1551.10
1535.40
2206.80
2168.70
2213.50
2247.60
2093.60
2083.00
2656.70
3187.70
2795.70
2838.50
2604.60
5.77%-8.24%Securities & Long-term Investments
$393.30
413.80
438.80
456.90
1466.70
1443.90
1553.40
1665.30
1720.80
1764.30
1789.40
1909.20
2005.90
1921.70
2027.10
14.54%5.48%Property, Plant & Equipment (Net)
$10160.40
10572.20
10906.60
11257.70
19189.70
19915.50
21347.00
22000.90
23620.10
25707.40
26982.40
29113.80
31581.50
30379.40
31729.80
9.91%4.45%Accumulated Depreciation
$3797.80
4036.00
4257.10
4485.10
7919.10
Goodwill & Intangibles
$441.90
441.90
441.90
441.90
3023.50
3046.20
3053.50
3052.80
3052.80
3052.80
3052.80
3052.80
3052.80
3052.80
3052.80
17.48%0.00%Other Assets
$-255.80
-573.80
-1203.00
-1435.20
3468.50
3548.90
3423.10
4509.20
4464.50
4420.60
4507.20
4608.60
4503.80
4603.50
4512.90
-1.97%Assets (Non-current)
$12435.90
12971.10
13218.30
13628.00
27148.40
27954.50
29377.00
31228.20
32858.20
34945.10
36331.80
38684.40
41144.00
39957.40
41322.60
10.48%3.42%Assets (Total)
$13862.10
14285.00
14769.40
15163.40
29355.20
30123.20
31590.50
33475.80
34951.80
37028.10
38988.50
41872.10
43939.70
42795.90
43927.20
10.09%2.64%Accounts Payable
$
1025.30
1029.00
1061.80
1107.90
1054.70
1005.70
1198.10
896.60
680.00
640.90
-5.75%Debt (Current)
$
1017.40
2286.70
1805.10
1524.00
2562.70
2066.40
2528.30
3285.10
2069.40
3214.70
55.34%Other Liabilities (Current)
$
388.90
553.60
464.80
550.80
530.70
680.90
884.60
933.10
1016.40
854.10
-15.97%Liabilities (Current)
$1364.50
1443.30
1496.40
1668.70
2709.00
2431.60
3869.30
3331.70
3182.70
4148.10
3753.00
4611.00
5114.80
3765.80
4709.70
11.64%25.07%Debt (Non-current)
$
9158.20
8746.60
9994.00
11211.00
11728.10
13523.70
14766.20
15512.80
15827.30
15375.80
-2.85%Other Liabilities
$7243.50
7176.00
7130.20
6967.80
15100.30
9573.20
9482.80
10307.40
10303.50
10489.40
10598.50
10878.30
11240.60
11215.10
11415.60
3.73%1.79%Liabilities (Non-current)
$7243.50
7176.00
7130.20
6967.80
15100.30
18731.40
18229.40
20301.40
21514.50
22217.50
24122.20
25644.50
26753.40
27042.40
26791.40
11.50%-0.93%Liabilities (Total)
$8608.00
8619.30
8626.60
8636.50
17809.30
21163.00
22098.70
23633.10
24697.20
26365.60
27875.20
30255.50
31868.20
30808.20
31501.10
11.52%2.25%Retained Earnings
$
4299.80
4613.90
5176.80
5538.20
5927.70
6329.60
6775.10
7265.30
7612.80
7526.70
7971.60
5.91%AOCI
$
4.60
2.90
2.90
-2.60
-4.10
-6.80
-3.20
-6.80
-7.70
-6.90
-7.80
-13.04%Shareholder's Equity
$5254.10
5665.70
6142.80
6526.90
11545.90
8929.80
9461.40
9788.90
10113.40
10469.70
10913.20
11376.90
11724.20
11636.60
12112.70
6.92%4.09%Liabilities & Equity
$13862.10
14285.00
14769.40
15163.40
29355.20
30123.20
31590.50
33475.80
34951.80
37028.10
38988.50
41872.10
43939.70
42795.90
43927.20
10.09%2.64%Net Income/Loss
$526.20
546.30
577.40
588.30
640.30
1134.70
1201.40
1298.50
1409.70
1331.70
507.60
622.60
8.04%22.66%Depreciation & Amortization
$336.40
371.70
400.20
419.40
583.50
762.60
798.60
845.80
926.30
975.90
1074.30
1122.60
1264.20
305.50
333.40
11.66%9.13%Increase/Decrease in Working Capital
$25.90
-3.70
59.30
138.10
7.80
-36.00
-127.20
-47.70
-169.80
51.80
306.80
340.80
-234.40
9.10
132.40
1354.95%Share-based Compensation
$-277.40
-100.00
-121.00
-28.70
Adjustments to Reconcile Net Income
$460.20
627.60
653.60
609.40
653.30
1163.30
874.70
1385.00
1210.80
994.60
734.20
651.00
1686.70
288.50
241.00
11.43%-16.46%Net Cash (Operating)
$993.40
1173.90
1231.00
1197.70
1293.60
2103.50
2079.60
2445.50
2345.50
2196.00
2032.70
2060.70
3018.40
796.10
863.60
9.70%8.48%Capital Expenditure
$795.90
714.00
695.40
735.30
2419.60
1309.70
2069.10
2307.70
2313.40
2624.60
2252.80
2379.60
2556.60
505.50
456.60
10.21%-9.67%Net Cash (Investing)
$-892.50
-729.60
-745.80
-756.80
-2517.50
-1270.10
-2239.60
-2384.40
-2494.90
-2806.80
-2311.80
-2642.40
-3558.20
-1267.90
-436.20
65.60%Increase/Decrease in Debt
$265.40
-43.80
-3.40
5.90
1783.40
-140.80
864.90
782.20
925.60
1552.70
1243.50
1657.30
1537.50
679.40
-204.10
15.76%-130.04%Increase/Decrease in Equity
$-193.90
-153.20
-223.40
-123.20
-127.40
-108.00
-40.50
-43.30
-73.10
-55.40
-17.40
-35.60
-10.30
-13.00
20.90
260.77%Dividends Paid
$242.00
276.30
328.90
352.00
455.40
624.90
656.50
697.30
744.50
798.00
854.80
917.90
984.20
246.10
263.50
12.40%7.07%Net Cash (Financing)
$-111.30
-422.80
-494.80
-405.00
1211.80
-845.70
161.40
26.40
85.60
601.10
294.00
676.40
522.80
417.60
-476.50
-214.10%Increase/Decrease in Cash
$-10.40
21.50
-9.60
35.90
-12.10
-12.30
1.40
87.50
-63.80
-9.70
14.90
94.70
-17.00
-54.20
-49.10
9.41%Cash (Beginning)
$24.50
14.10
35.60
26.00
61.90
49.80
37.50
58.60
146.10
82.30
72.60
87.50
182.20
182.20
165.20
18.20%-9.33%Cash (Ending)
$14.10
35.60
26.00
61.90
49.80
37.50
38.90
146.10
82.30
72.60
87.50
182.20
165.20
128.00
116.10
22.76%-9.30%NOPAT
$585.82
640.94
681.36
688.68
745.46
1049.65
1354.19
1265.74
1379.44
1434.06
1485.72
1565.59
1653.90
584.04
712.97
9.03%22.08%Gross Margin %
75.60%
62.20%
64.57%
63.09%
62.26%
64.39%
67.97%
60.19%
54.58%
64.12%
54.65%
65.41%
Operating Margin %
19.78%
23.56%
23.65%
22.18%
21.10%
22.51%
23.34%
19.12%
20.36%
23.56%
20.62%
20.05%
21.46%
23.17%
30.35%
NOPAT Margin %
13.06%
15.09%
14.92%
13.73%
12.58%
14.05%
17.71%
16.48%
18.34%
19.80%
17.87%
16.31%
18.60%
20.22%
26.60%
Net Margin %
11.73%
12.87%
12.64%
11.73%
10.77%
12.57%
15.74%
13.79%
15.07%
16.57%
15.64%
14.67%
14.97%
17.57%
23.22%
Tax Rate %
33.98%
35.93%
36.92%
38.07%
40.39%
37.60%
24.14%
13.80%
9.92%
15.94%
13.36%
18.64%
13.32%
12.74%
12.35%
ROA
4.23%
4.49%
4.61%
4.54%
2.54%
3.48%
4.29%
3.78%
3.95%
3.87%
3.81%
3.74%
3.76%
1.36%
1.62%
ROE
11.15%
11.31%
11.09%
10.55%
6.46%
11.75%
14.31%
12.93%
13.64%
13.70%
13.61%
13.76%
14.11%
5.02%
5.89%
ROIC
5.53%
5.82%
6.00%
5.89%
3.36%
4.52%
5.48%
4.99%
5.15%
4.96%
4.88%
4.80%
4.72%
1.70%
2.01%
Asset Turnover
0.32
0.30
0.31
0.33
0.20
0.25
0.24
0.23
0.22
0.20
0.21
0.23
0.20
0.07
0.06
Equity Multiplier
2.64
2.52
2.40
2.32
2.54
3.37
3.34
3.42
3.46
3.54
3.57
3.68
3.75
3.68
3.63
Current Ratio
0.89
0.57
0.67
0.66
0.50
0.71
0.69
0.55
0.75
0.55
Quick Ratio
0.53
0.36
0.41
0.38
0.30
0.41
0.40
0.30
0.48
0.34
Debt/Equity Ratio
1.14
1.17
1.21
1.26
1.36
1.43
1.52
1.60
1.54
1.53
Working Capital/Sales
0.04
0.04
0.04
0.01
0.02
0.05
0.05
0.05
0.29
0.28
Dividend Payout Ratio %
41.31%
43.11%
48.27%
51.11%
61.09%
59.53%
48.48%
55.09%
53.97%
55.65%
57.53%
58.63%
59.51%
42.14%
36.96%
Total Payout
$170.50
473.30
555.70
469.30
-1200.60
873.70
-167.90
-41.60
-108.00
-699.30
-371.30
-703.80
-543.00
-420.30
446.70
206.28%Payout Ratio %
29.10%
73.84%
81.56%
68.14%
-161.06%
83.24%
-12.40%
-3.29%
-7.83%
-48.76%
-24.99%
-44.95%
-32.83%
-71.96%
62.65%