WEC
WEC Energy Group, Inc.
WEC's fundamentals are mixed: revenue grew 8.1%, but free cash flow was negative. At 21x earnings, it's trading in line with its usual 22x. Analysts expect earnings to hold roughly steady, though they disagree widely on how much.
WEC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Weak | |
| Weak |
WEC's profitability is currently healthy, and its revenue is stable, but its cash flow and balance sheet are weak.
WEC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 20x | $110 | -6.2% |
| Current | 21x | $117 | — |
| Fair | 22x | $121 | +3.3% |
| Forward | 22x | $117 | — |
| Expensive | 24x | $134 | +14% |
Historical ranges are pointers, not guarantees.
WEC's PE is in its fair range at 21x. On analysts' estimates for next year's earnings, today's price would be 22x.
WEC Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Stable | |
| Growth | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect WEC's revenue to grow, but its profitability to weaken. However, they disagree widely on these estimates.
WEC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.36 | -2.4% |
| Q3 2026 | $5.49 | +3.8% |
| Q2 2026 | $5.14 | -1.5% |
| Q1 2026 | $4.99 | -2.7% |
| Q4 2025 | $4.81 | -0.4% |
| Q3 2025 | $5.29 | +29% |
| Q2 2025 | $5.22 | +21% |
| Q1 2025 | $5.13 | +12% |
| Q4 2024 | $4.83 | +14% |
WEC earned $5.49 per share over the past year, up 3.8% from the year before.
WEC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.3B | +8.9% |
| Q2 2026 | $2.1B | +2.6% |
| Q1 2026 | $3.4B | +9% |
| Q4 2025 | $2.5B | +11% |
| Q3 2025 | $2.1B | +13% |
| Q2 2025 | $2B | +13% |
| Q1 2025 | $3.1B | +18% |
| Q4 2024 | $2.3B | +3% |
WEC's revenue has grown year over year for eight quarters in a row: $2.3B last quarter, up 8.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 25% | +3.2 points |
| Q2 2026 | 21% | +0.8 points |
| Q1 2026 | 29% | -1.2 points |
| Q4 2025 | 18% | -8 points |
| Q3 2025 | 21% | +0.8 points |
| Q2 2025 | 20% | -0.4 points |
| Q1 2025 | 30% | -0.6 points |
| Q4 2024 | 26% | +11 points |
WEC's operating margin was 25% last quarter, up 3.2 points from the same quarter a year ago.
WEC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$36.4M | +$589.3M |
| Q2 2026 | -$269.7M | -1228% |
| Q1 2026 | $400.5M | -13% |
| Q4 2025 | -$878.4M | -$613.8M |
| Q3 2025 | -$625.7M | -$558.4M |
| Q2 2025 | $23.9M | -93% |
| Q1 2025 | $461.5M | +10% |
| Q4 2024 | -$264.6M | +$18.8M |
WEC's free cash flow was −$784M over the past year, against −$405M the year before.
WEC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -100K shares |
| 1 year | +1% | +3.2M shares |
| 3 years | +4.1% | +13M shares |
| 5 years | +4% | +12.5M shares |
| Available history | +3.8% | +12.1M shares |
WEC has 329M diluted shares, up 1% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $1.3M |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | $1.2M |
| Q1 2024 | $2M |
WEC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.7x | High |
| Q2 2026 | 5.9x | High |
| Q1 2026 | 5.8x | High |
| Q4 2025 | 5.9x | High |
| Q3 2025 | 5.4x | High |
| Q2 2025 | 5.4x | High |
| Q1 2025 | 5.5x | High |
| Q4 2024 | 5.7x | High |
WEC's net debt is about 5.7 years of its operating earnings (EBITDA), up from 5.4 years a year ago.
WEC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 61.8 | Neutral |
| Stochastic | 87.2 | Overbought |
WEC's weekly RSI is 62 (neutral) and its Stochastic is 87 (overbought).
WEC PE vs Utilities Sector
| Metric | WEC | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 20x | 4.9% above |
| PE % | 37 | 44 | 7 pts below |
WEC is trading at 21x earnings, in line with the Utilities sector's median of 20x.
WEC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $109.5 | 7.3% above |
| 20 week MA | $109.7 | 7.1% above |
| 50 week MA | $111.1 | 5.7% above |
| 100 week MA | $108.9 | 7.9% above |
| 200 week MA | $98.2 | 20% above |
WEC is in an uptrend: it's above all five of its weekly moving averages, and 20% above its 200-week average.
WEC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $92.3 | $89.4 | -3.1% |
| 2021 | $89.4 | $94.7 | +5.8% |
| 2022 | $94.7 | $95.5 | +0.9% |
| 2023 | $95.5 | $84.2 | -12% |
| 2024 | $84.2 | $94.8 | +13% |
| 2025 | $94.8 | $105.5 | +11% |
| 2026 YTD | $105.5 | $117.5 | +11% |
WEC has finished higher in four of the last six years. It's up 11% so far in 2026.