WEC Energy Group WEC
For more information about our business operations, including financial and geographic information, see Note 22, Segment Information, and Item 7. 10-K, Item 1
- Headquarters
- Milwaukee, WI
- Next results
- around Jan 4, 2027
Where each dollar of revenue went, FY2025
Revenue of $9.8B through the costs to a net profit of $1.6B · income statement of the 10-K
WEC among Utilities peers
Six ratios from the latest 10-K. Each corner is the share of 30 peers the company is above, not a score.
What changed
10 new risk paragraphs. 10-K filed Feb 20, 2026 against Feb 21, 2025.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
9 checks on the latest 10-K. Checks, not verdicts.
0facts worth reading about all 9 checks found nothing to note
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Receivables +23.6% vs revenue +14.0% (+9.6 pts)
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Cash from operations $3.4B vs net income $1.6B (FY ending Dec 31, 2025)
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Same auditor in both 10-Ks: DELOITTE & TOUCHE LLP
6 more checks with nothing to note
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No statement of substantial doubt about going concern
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No 8-K item 4.02 in the last 2 years
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No NT 10-K or NT 10-Q in the last 2 years
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No sentence in the 10-K concludes that controls were not effective because of a material weakness
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No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years
In their words
10 paragraphs in Risk Factors that were not in the 10-K filed Feb 21, 2025. Quoted as filed.
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Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
Our operations are subject to extensive and evolving federal, state, and local environmental laws, regulations, and permit requirements related to, among other things, air emissions (including, but not limited to CO2, methane, mercury, SO2, NOx, ozone and other pollutants), protection of natural resources, water quality, wastewater…
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Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
Tax legislation and regulations can adversely affect, among other things, our financial condition, results of operations, cash flows, liquidity, and credit ratings. In July 2025, the OBBBA was signed into law, enacting significant modifications to clean-energy tax credits previously provided under the IRA. The OBBBA provides companies…
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Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
We face risks related to providing service to our large-scale customers, including potential customers under our proposed VLC and Bespoke Resources Tariffs, which could impact our business, results of operations, and financial condition. We are engaged in discussions with a small number of customers to provide power to large-scale data…
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Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
The ability to complete large capital projects is dependent upon a number of factors, including the ability to obtain financing of such projects on satisfactory terms and conditions. Along with the significant capital spend, a portion of the expected earnings growth from these projects will result in an increase in AFUDC as part of…
New risk paragraphs, against peers
Latest 10-K of each, Utilities companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | $9.6B | $8.9B | $8.6B | $9.8B |
| Net income | $1.4B | $1.3B | $1.5B | $1.6B |
| Operating cash flow | $2.1B | $3.0B | $3.2B | $3.4B |
| Free cash flow | −$636.2M |
Revenue, FY2016 to FY2025
Ten fiscal years, each from its own 10-K · XBRL · USD
$9.8B ▲ 14.0% in FY2025$1.6B ▲ 2.0% in FY2025
Recent filings
7 filings in the last 30 days · SEC EDGAR
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8-KNov 6, 2026Regulation FD disclosure, Other events 8-K items 7.01, 8.01
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OfferingNov 4, 2026At-the-market program: up to $4.0B of common stock 424B5 · aggregate offering price of up to $4,000,000,000, from time to time through the sales agents named below under an equity distribution agreement.
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8-KNov 4, 2026Other events 8-K item 8.01
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8-KNov 4, 2026Other events 8-K item 8.01
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10-QOct 30, 2026Quarterly report (10-Q) period ended Sep 30, 2026
About the company
WEC Energy Group, Milwaukee, WI · from the 10-K filed Feb 20, 2026
For more information about our business operations, including financial and geographic information, see Note 22, Segment Information, and Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations - Results of Operations. For information about our business strategy, see Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations - Corporate Developments.
- Headquarters
- Milwaukee, WI
- Country
- United States
- Reports in
- USD
- Listed on
- NYSE
- Fiscal year ends
- December 31
- Last results
- Oct 29, 2026
- Incorporated in
- WI
Email alerts
Sources
The 10-K filed Feb 20, 2026 (open at SEC), compared with the 10-K filed Feb 21, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
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