Utilities · Electric Utilities · US stock · price as of 22 Oct 2026
Key indicators
Price
$112.15
52-week range
$99.80 – $119.91
Market cap
$36.9B
P/E (trailing)
21.6×
EV / EBITDA
15.5×
Free-cash-flow yield
9.7%
Dividend yield
3.3%
Revenue (last 12 months)
$10.1B
Revenue growth (3y a year)
0.7%
Operating margin
22.8%
Return on invested capital
5.6%
Net debt / EBITDA
5.9×
Fair value
Fair value (average of valid models)$124.22 middle half of models $103 – $144
Versus priceFair+11% to fair value
P/E multiple
$111.79
P/B multiple
$109.95
P/S multiple
$102.74
EV/EBITDA multiple
$109.78
EV/EBIT multiple
$102.94
EV/revenue multiple
$98.54
10-year DCF, EBITDA exit
$163.69
5-year DCF, EBITDA exit
$144.42
10-year DCF, revenue exit
$161.99
5-year DCF, revenue exit
$141.98
10-year DCF, growth exit
$121.12
5-year DCF, growth exit
$96.64
Dividend discount, stable
$188.87
Earnings power value
$84.59
Model uncertainty
Medium
X-Ray Score
51/ 100 · Medium confidence · ahead of 52% of sector peers
Valuation50
Growth41
Profitability61
Financial health41
Dividends65
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Homes and businesses in Wisconsin, and to a lesser extent Illinois, receive electricity and natural gas from the utilities owned by WEC Energy Group. Its utilities include We Energies and Wisconsin Public Service, and it owns stakes in transmission and power generation assets. Rates charged to customers are set by state regulators, and the group is organised into regulated utility segments for each service area.
Most revenue comes from regulated charges for electricity and gas, set so the utilities can recover costs and earn an allowed return. Revenue was $10.1 billion over the last twelve months, with growth of 0.7% a year across the last three years. The operating margin is 22.8%, and the business earns a profit of 6% on the capital invested in it. Net debt is 5.9 times EBITDA. The dividend yield is 3.3%.
StocksXray gives Wec Energy Group, Inc. an X-Ray Score of 51 out of 100 (medium confidence), ahead of 52% of the S&P 500 stocks in its sector. Its strongest lens is dividends (65) and its weakest is growth (41).
Our fair value (the average of the valid models) is $124.22 (range $102.79 to $143.81). At $112.15 the stock trades 10% below that value, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Wec Energy Group, Inc. (WEC)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$82.46
$82.08
$76.35
$88.65
$102.80
$112.15
Market cap
$26.1B
$25.9B
$24.1B
$28.1B
$33.3B
$36.9B
P/E
20.1×
18.4×
18.1×
18.4×
21.4×
21.6×
EV / revenue
5.0×
4.5×
4.8×
5.6×
5.6×
5.9×
EV / EBITDA
14.9×
14.1×
13.5×
13.7×
14.8×
15.5×
Price / free cash flow
–
–
8.0×
8.7×
9.8×
10.3×
Free-cash-flow yield
−1.3%
−2.5%
12.5%
11.4%
10.2%
9.7%
Price / book
2.3×
2.2×
2.0×
2.2×
2.4×
2.5×
Dividend yield
3.29%
3.55%
4.09%
3.77%
3.47%
3.34%
Fundamentals checklist ● 4 Good · ● 4 Average · ● 6 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−3.6%Good
Risk models
Altman Z score0.9×Good
Piotroski F-Score4 of 9Bad
Growth
EPS growth (3y)2.6%Bad
Revenue growth (3y)0.7%Bad
Growth consistency70%Bad
Balance sheet
Current ratio0.5×Bad
Net debt / EBITDA5.9×Average
Interest cover2.5×Average
Valuation
Fair value vs price1.1×Good
EBIT / EV yield3.9%Bad
Profitability
Return on invested capital5.6%Good
Operating margin22.8%Average
Gross profitability12.6%Average
XStocksXray
Wec Energy Group, Inc. (WEC)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
8,316
9,597
8,893
8,600
9,800
10,137
Gross profit
5,005
5,239
5,702
5,944
6,534
6,661
Operating income
1,715
1,924
1,908
2,153
2,245
2,315
Net income
1,299
1,410
1,332
1,524
1,556
1,694
Diluted EPS ($)
4.11
4.45
4.22
4.83
4.81
5.19
Free cash flow
-340
-636
3,018
3,212
3,379
3,574
Gross margin
60.2%
54.6%
64.1%
69.1%
66.7%
65.7%
Operating margin
20.6%
20.0%
21.5%
25.0%
22.9%
22.8%
Net margin
15.6%
14.7%
15.0%
17.7%
15.9%
16.7%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
38,989
41,872
43,940
47,363
51,518
52,750
Cash
16
29
43
10
28
50
Total debt
15,460
17,111
18,652
20,024
21,942
22,564
Equity
11,113
11,617
12,072
12,802
14,053
14,573
Dividend per share ($)
2.71
2.91
3.12
3.34
3.57
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
