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INTRODUCTION In this report, when we refer to "WEC Energy Group," "the Company," "us," "we," "our," or "ours," we are referring to WEC Energy Group, Inc. and all of its subsidiaries. The term "utility" refers to the regulated activities of the electric and natural gas utility companies, while the term "non-utility" refers to the activities of the electric and natural gas companies that are not …
22.91% operating margin is above average. ROIC at 6.11%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue grew 14.0%, still solid. Margins contracted 2.1pp, which offsets some of the top-line progress.
Free cash flow declined 337% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$1.02B. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$10.08B
▲ +14.0% YoY
Net Income (TTM)
$1.64B
▲ +2.0% YoY
Op. Margin
22.68%
▼ -2.1pp YoY
ROIC
6.10%
Cash Flow & Balance Sheet
FCF (TTM)
-$1.08B
▼ -336.5% YoY
Op. Cash Flow (TTM)
$3.44B
▲ +5.2% YoY
Net Debt
$22.27B
Cash & Equiv.
$46M
5Y CAGR: +6.2%
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