WEC Energy Group (WEC) FY2015 results: revenue $5.9 billion, up 18.6% on the year
WEC Energy Group, Inc. (WEC) reported revenue of $5.9 billion for fiscal 2015, the year ended 31 December 2015, up 18.6% on the year before. Net income was $640 million, up 8.6%, and diluted earnings per share $2.34. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$5.9 billion
+18.6% on the year
FY2011FY2015
Operating margin
21.1%
22.3% a year earlier
FY2011FY2015
Net income
$640 million
+8.6% on the year
FY2011FY2015
Diluted EPS
$2.34
-9.7% on the year
FY2011FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
5,926
4,997
4,519
+18.6%
Cost of revenue
2,240
2,259
1,827
-0.9%
Gross profit
3,686
2,738
2,692
+34.6%
Gross margin
62.2%
54.8%
59.6%
Operating income
1,250
1,112
1,080
+12.4%
Operating margin
21.1%
22.3%
23.9%
Interest expense
331
240
251
+37.9%
Pre-tax income
1,074
951
916
+12.9%
Income tax
434
362
338
+19.9%
Effective tax rate
40.4%
38.0%
36.9%
Net income
640
590
579
+8.6%
Net margin
10.8%
11.8%
12.8%
Diluted EPS
$2.34
$2.59
$2.51
-9.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,295
1,198
1,231
+8.1%
Capital expenditure
1,266
761
725
+66.3%
Free cash flow
28.9
436
506
-93.4%
Free cash flow margin
0.5%
8.7%
11.2%
Cash from investing
-2,423
-757
-746
Cash from financing
1,234
-405
-495
Depreciation and amortisation
562
391
340
+43.5%
Share-based compensation
23.3
21.9
19.0
+6.4%
Buybacks
74.7
123
223
-39.4%
Dividends paid
455
352
329
+29.4%
Dividend per share
$1.74
$1.56
$1.45
+11.5%
Diluted shares, weighted
273m
228m
230m
+19.9%
Shares outstanding at period end
316m
226m
226m
+40.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
8,685
4,450
4,263
+95.2%
Debt
10,377
5,212
4,627
+99.1%
Other liabilities
10,293
5,242
5,553
+96.3%
Total liabilities and equity
29,355
14,905
14,443
+96.9%
Fixed assets
19,190
11,258
10,907
+70.5%
Goodwill
3,024
442
442
+584.2%
Intangible assets
13.9
0.0
n/a
Investments
1,467
457
439
+221.0%
Cash and equivalents
49.8
61.9
26.0
-19.5%
Receivables
1,029
643
406
+59.9%
Other assets
4,583
2,043
2,224
+124.3%
Total assets
29,355
14,905
14,443
+96.9%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.