WEC Energy Group (WEC) FY2025 10-K Annual Report
WEC Energy Group (WEC) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 20, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
WEC Energy Group FY2025 10-K Analysis
Business Overview
- • Core business model: Regulated electric and natural gas utilities serving Midwest U.S. states focused on reliable energy delivery and infrastructure development
- • Emphasis on managing financial risks from commodity costs, weather variability, and interest rate increases impacting working capital and earnings
- • Regulatory decoupling mechanisms expanded to mitigate weather and pension/OPEB cost volatilities through 2026 at Wisconsin utilities
- • Pension and OPEB trust assets valued at $3.57 billion with expected 2026 returns ~6.6%, supporting long-term financial stability of benefit plans
- • Heightened risks from U.S. trade policy changes and inflation impacting supply chains, material costs, and timing of infrastructure projects
Management Discussion & Analysis
- • Operating cash flow $3.38B in 2025, up $167.6M YoY from higher customer collections and weather-driven sales
- • Capital expenditures $4.40B in 2025, increased $1.62B YoY mainly from Wisconsin segment's renewables and distribution projects
- • Financing cash inflow $1.52B in 2025, up $1.06B YoY due to commercial paper borrowings and common stock issuances
- • Dividend per share raised 6.7% to $0.9525 quarterly, or $3.81 annually starting 1Q 2026
- • Future capital expenditure guidance totals $5.02B (2026), $6.95B (2027), and $6.97B (2028), focusing on renewables, LNG, and distribution upgrades
Risk Factors
- • Regulatory risk: PSCW rate orders affect pension and OPEB cost recovery at Wisconsin utilities WEC, WPS, WG
- • Macroeconomic risk: higher interest rates reduce reporting units' fair value affecting goodwill impairment tests sensitivity
- • Operational risk: $667.5M unbilled utility revenues at Dec 31, 2025 reliant on estimates of usage, weather, and rates
- • Competitive risk: low industry M&A activity reduces applicability of guideline merger/acquisition method in fair value assessments
- • Financial risk: pension discount rate 0.5% increase lowers 2025 pension cost by $7.5M, impacting financial results
WEC Energy Group FY2025 Key Financial MetricsXBRL
Revenue
$9.8B
▲ +14.0% YoY
Net Income
$1.6B
▲ +2.0% YoY
Operating Margin
22.9%
▼ -213bp YoY
Net Margin
15.9%
▼ -187bp YoY
ROE
11.1%
▼ -85bp YoY
Total Assets
$51.5B
▲ +8.8% YoY
EPS (Diluted)
$4.81
▼ -0.4% YoY
Operating Cash Flow
$3.4B
▲ +5.2% YoY
Source: XBRL data from WEC Energy Group FY2025 10-K filing on SEC EDGAR. All figures in USD.
Get deeper insights on WEC Energy Group
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.