WEC Energy Group
WEC Energy Group, Inc., through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructu…
WEC Energy Group, Inc., through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments. It generates and distributes electricity from coal, natural gas, oil, and nuclear, as well as renewable energy resources, including wind, solar, hydroelectric, and biomass; and distributes and hydroelectric natural gas. The company also owns, maintains, monitors, and operates electric transmission systems; and generates, distributes, and sells steam. As of December 31, 2025, the company operated approximately 35,200 miles of overhead distribution lines and 37,600 miles of underground distribution cables, as well as 420 electric distribution substations and 649,500 line transformers; approximately 47,200 miles of natural gas distribution mains; 1,300 miles of natural gas transmission mains; 2.4 million natural gas lateral services; 510 natural gas distribution and transmission gate stations; and 67.0 billion cubic feet of working gas capacities in underground natural gas storage fields. The company was formerly known as Wisconsin Energy Corporation and changed its name to WEC Energy Group, Inc. in June 2015. WEC Energy Group, Inc. was founded in 1896 and is headquartered in Milwaukee, Wisconsin.Priced within the modelled range
Other models: USD 85.81–87.93 (median 86.87). The recommended value is in line with them.
Why: Latest free cash flow is depressed by heavy investment or one-off items, so a three-year average is used instead.
Details and the full model are below.
Market price within modeled range
Normalised free-cash-flow DCF using a three-year average of free cash flow, because the latest figure is depressed by heavy investment or one-off items, with cash, debt, and shares from the latest report. Base assumptions are 4.35% growth, 2.2% terminal growth, and 8.6% discount. Low/high cases vary growth by 2 and terminal growth/discount by 1 percentage point; this illustrative range is not a statistical confidence interval or investment advice.
Assumptions: growth 4.35%, discount rate 8.60%, terminal growth 2.20% (sector defaults). See a worked example.
Blended growth assumption: 4.3% (sector default 4.0%, own revenue history 4.2%, analyst revenue consensus 4.6%).
5-year outlook: relative outlook of about 8.9% a year (High confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 4.6% a year; the growth assumption used is 4.4%.
Adjust assumptions
Why this model: Latest free cash flow is depressed by heavy investment or one-off items, so a three-year average is used instead.
Compare models- Recommended: Normalised free-cash-flow DCF — USD 100.40 (-15.1%)
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EPS-based Gordon proxy
— USD 87.93 (-25.7%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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FCFF (steady state)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/EBITDA (12x)
— USD 85.81 (-27.5%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/Sales (Rule of 40)
— USD 217.20 (+83.6%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear USD 52.91 | -123.6% |
| Base USD 100.40 | -17.8% |
| Bull USD 192.27 | 38.5% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
At USD 118.32 the market implies about this annual free-cash-flow growth for 5 years (terminal 2.2%, discount 8.6%).
Compare: the market implies 6.7% a year, this model assumes 4.4%. The market expects more than this model does, which is why it reads as overvalued.
How the Normalised free-cash-flow DCF value changes with growth (rows) and discount rate (columns). Green cells are above the current price.
| Growth \ Discount | 6.6% | 7.6% | 8.6% | 9.6% | 10.6% |
|---|---|---|---|---|---|
| 0.3% | 137.77 | 99.49 | 73.17 | 53.96 | 39.31 |
| 2.3% | 157.51 | 115.30 | 86.29 | 65.11 | 48.98 |
| 4.4% | 178.80 | 132.33 | 100.40 | 77.11 | 59.36 |
| 6.4% | 201.71 | 150.65 | 115.57 | 89.99 | 70.51 |
| 8.4% | 226.34 | 170.33 | 131.86 | 103.81 | 82.47 |
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 64 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 3 of 5 years | 12 / 20 |
| Growth | revenue +1.8% a year | 12 / 20 |
| Balance sheet | net debt 5.4x EBITDA | 0 / 20 |
| Margins | EBITDA margin 41% | 20 / 20 |
Peers in Utilities
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| WEC (this company) | USD 118.32 | -17.8% | 21.5 | 2.7 | 3.1% | 64 |
| ED Consolidated Edison | USD 121.44 | 29.8% | 20.3 | 1.7 | 2.7% | 78 |
| ENGI.PA Engie SA | EUR 24.12 | 15.5% | 16.0 | 1.9 | 7.4% | 76 |
| FORTUM.HE Fortum Oyj | EUR 23.15 | -3.6% | 25.8 | 2.6 | 6.0% | 72 |
| D Dominion Energy | USD 69.64 | -5.5% | 22.7 | 2.1 | 3.8% | 76 |
| CMS CMS Energy | USD 70.68 | -6.5% | 25.4 | 2.3 | 3.2% | 64 |
| CNA.L Centrica plc | GBP 1.51 | -6.6% | – | 2.3 | 3.3% | 92 |
| NTGY.MC Naturgy Energy Group, S.A. | EUR 29.32 | -9.8% | 14.1 | 3.0 | 5.9% | 70 |
| EIX Edison International | USD 60.88 | -11.3% | 6.4 | 1.3 | 5.6% | 52 |
| Peer median | 20.3 | 2.2 | ||||
Dividends
Paid in the last 12 months: USD 3.75 per share · yield 3.17% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 2.858 |
| 2025 | 3.570 |
| 2024 | 3.340 |
| 2023 | 3.120 |
| 2022 | 2.910 |
| 2021 | 2.710 |
Trailing 12-month financials
TTM through 30 Sep 2026 · quarterly EODHD data · data downloaded 06 Nov 2026 12:42
| Revenue | USD 10,324,000,000 |
|---|---|
| EBITDA | USD 4,277,400,000 |
| EBIT | USD 2,747,400,000 |
| Net income | USD 1,810,400,000 |
| Free cash flow | USD -811,000,000 |
| Capital expenditures | USD 4,621,700,000 |
| Debt | USD 23,173,800,000 |
| Cash | USD 58,800,000 |
| Working capital | USD -2,438,400,000 |
| Shares outstanding | 328,800,000 |
| Reported dividends per share | USD 3.7141 |