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Regulated electric and gas utility serving Wisconsin, Illinois, Michigan and Minnesota.
Regulated electric and gas utility serving Wisconsin, Illinois, Michigan and Minnesota.
Earns an allowed return on the plants, pipes and wires its regulators let it add to the rate base, so spending approved by state commissions drives earnings. It owns a large stake in American Transmission Co., which runs high-voltage lines across the upper Midwest. The 2015 purchase of Integrys added gas utilities in Illinois, Michigan and Minnesota.
Moat: narrow (regulatory licence, scale). Regulated state monopoly territories with predictable cost-of-service rate recovery.
Headquarters: Milwaukee, Wisconsin, US · Founded: 2015 · Employees: 7,151
Size WEC Energy (WEC) is a United States Utilities company (Electric Utilities) with a market value of $38.1B, the 306th largest of 3,117 United States companies the cockpit tracks. Shares closed at $115.87 on 6 Nov 2026.
Performance Over six months the shares gained 4.7%, against +1.6% for the median peer and -1.1% for the United States market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 8.1% over the last twelve months (peer median +6.5%); the operating margin is 24.6% (peer median 21.2%).
Valuation It trades at 21.6× forward earnings against a peer median of 18.5× (7th most expensive of 21).
Capital Return on invested capital runs 1.1 points below its cost of capital (6.4% WACC).
Credit WEC Energy has 10 bonds outstanding ($4.88B), rated BBB+ by the agencies and trading like A at a weighted spread of 50 bp.
Short interest Short interest is 4.4% of the free float (15 Oct 2026).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $10.3B | $9.80B | $8.60B | $8.89B | $9.60B |
| Revenue growth | — | +14% | -3% | -7% | — |
| Gross profit | $4.03B | $2.66B | $2.55B | $2.57B | $1.87B |
| EBITDA | $4.06B | $3.85B | $3.64B | $3.58B | $2.74B |
| Net income | $1.81B | $1.56B | $1.53B | $1.33B | $1.41B |
| Free cash flow | -$786M | -$993M | $346M | $503M | -$146M |
| Capital expenditure | $4.62B | $4.40B | $2.78B | $2.49B | $2.33B |
| Total debt | $23.2B | $22.4B | $20.4B | $18.8B | $17.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| WEC Energy WEC | $38.1B | +5% | +8% | 25% | 21.6× | n/a |
| Alliant Energy LNT | $18.8B | +1% | +5% | 23% | 20.8× | n/a |
| Xcel Energy XEL | $51.1B | +1% | +4% | 22% | 18.1× | n/a |
| CMS Energy CMS | $21.7B | -5% | +8% | 20% | 17.1× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | WEC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.8% | +7.0% | 4th highest of 21 |
| 6-month return | +4.7% | +1.6% | 8th highest of 21 |
| Distance from 52-week high | -3.6% | -7.2% | 6th highest of 21 |
| Revenue growth (TTM) | +8.1% | +6.5% | 8th highest of 21 |
| Operating margin | 24.6% | 21.2% | 7th highest of 21 |
| Forward P/E | 21.6× | 18.5× | 7th most expensive of 21 |
| ROIC minus cost of capital | -1.1 pp | -1.2 pp | 11th highest of 21 |
| EV / EBITDA | 15.2× | 13.7× | 5th most expensive of 18 |
| Net debt / EBITDA | 5.7× | 4.9× | 7th most indebted of 18 |
| Bond spread | 50 bp | 81 bp | tightest of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| WEC Energy WEC | United States | $38.1B | +5% | +8% | 25% | 21.6× | n/a | n/a |
| Public Service Enterprise PEG | United States | $36.2B | -5% | +13% | 27% | 16.0× | n/a | n/a |
| Adani Power ADANIPOWER.NS | India | $41.6B | -11% | +8% | 23% | 29.4× | n/a | n/a |
| Vistra VST | United States | $41.9B | -15% | +9% | 19% | 12.8× | 12.5% | +10.1% |
| Sse SSE.L | United Kingdom | $43.2B | +7% | +1% | 19% | 14.2× | n/a | n/a |
| Consolidated Edison ED | United States | $43.7B | +12% | +10% | 18% | 18.5× | n/a | n/a |
| NTPC NTPC.NS | India | $33.2B | -19% | +7% | 20% | 12.3× | n/a | n/a |
| CGN Power 003816.SZ | China | $33.1B | +4% | -20% | 30% | 22.4× | n/a | n/a |
| Ameren AEE | United States | $31.2B | +4% | +4% | 25% | 20.0× | n/a | n/a |
| Fortis FTS.TO | Canada | $31.0B | +11% | +4% | 28% | 22.5× | n/a | n/a |
| Exelon EXC | United States | $47.2B | +5% | +7% | 20% | 15.2× | n/a | n/a |
| Huaneng Lancang River Hydropower 600025.SS | China | $30.7B | +15% | +4% | 48% | 23.1× | 3.8% | +6.6% |
| China National Nuclear Power 601985.SS | China | $29.8B | +7% | -2% | 27% | 26.1× | n/a | n/a |
| Orsted ORSTED.CO | Denmark | $29.5B | -8% | +15% | 2% | 20.4× | n/a | n/a |
| Rwe RWE.DE | Germany | $50.4B | +2% | -34% | 0% | 18.6× | n/a | n/a |
| PG&E PCG | United States | $28.6B | -19% | +4% | 20% | 7.4× | n/a | n/a |
| Endesa ELE.MC | Spain | $51.0B | +21% | +6% | 17% | 18.4× | 0.5% | +4.7% |
| Xcel Energy XEL | United States | $51.1B | +1% | +4% | 22% | 18.1× | n/a | n/a |
| DTE Energy DTE | United States | $28.1B | -3% | +18% | 13% | 16.6× | n/a | n/a |
| Entergy ETR | United States | $52.8B | -1% | +11% | 24% | 22.8× | n/a | n/a |
| CenterPoint Energy CNP | United States | $27.0B | -2% | +8% | 24% | 19.9× | n/a | n/a |
WEC Energy has 10 bonds outstanding with $4.88B face value. The agencies rate it BBB+; its bonds trade like A. Weighted yield 4.92%, a spread of 50 bp over government bonds.