WEC Energy Group (WEC) FY2017 results: revenue $7.6 billion, up 2.4% on the year
WEC Energy Group, Inc. (WEC) reported revenue of $7.6 billion for fiscal 2017, the year ended 31 December 2017, up 2.4% on the year before. Net income was $1.2 billion, up 28.2%, and diluted earnings per share $3.79. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2018.
Revenue
$7.6 billion
+2.4% on the year
FY2011FY2017
Operating margin
23.2%
22.7% a year earlier
FY2011FY2017
Net income
$1.2 billion
+28.2% on the year
FY2011FY2017
Diluted EPS
$3.79
+28.0% on the year
FY2011FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
7,648
7,472
5,926
+2.4%
Cost of revenue
2,823
2,647
2,240
+6.6%
Gross profit
4,826
4,825
3,686
+0.0%
Gross margin
63.1%
64.6%
62.2%
Operating income
1,776
1,696
1,250
+4.7%
Operating margin
23.2%
22.7%
21.1%
Interest expense
416
403
331
+3.2%
Pre-tax income
1,588
1,507
1,074
+5.4%
Income tax
384
566
434
-32.3%
Effective tax rate
24.1%
37.6%
40.4%
Net income
1,204
939
640
+28.2%
Net margin
15.7%
12.6%
10.8%
Diluted EPS
$3.79
$2.96
$2.34
+28.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
2,079
2,104
1,295
-1.2%
Capital expenditure
1,960
1,424
1,266
+37.6%
Free cash flow
119
680
28.9
-82.5%
Free cash flow margin
1.6%
9.1%
0.5%
Cash from investing
-2,254
-1,354
-2,423
Cash from financing
161
-846
1,234
Depreciation and amortisation
799
763
562
+4.7%
Share-based compensation
29.0
18.0
23.3
+61.1%
Buybacks
71.3
108
74.7
-34.0%
Dividends paid
656
625
455
+5.1%
Dividend per share
$2.08
$1.98
$1.74
+5.1%
Diluted shares, weighted
317m
317m
273m
+0.1%
Shares outstanding at period end
316m
316m
316m
-0.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
9,492
8,960
8,685
+5.9%
Debt
11,033
10,176
10,377
+8.4%
Other liabilities
11,065
10,987
10,293
+0.7%
Total liabilities and equity
31,590
30,123
29,355
+4.9%
Fixed assets
21,347
19,916
19,190
+7.2%
Goodwill
3,054
3,046
3,024
+0.2%
Intangible assets
n/a
n/a
13.9
Investments
n/a
n/a
1,467
Cash and equivalents
38.9
37.5
49.8
+3.7%
Receivables
1,351
1,242
1,029
+8.8%
Other assets
5,800
5,882
4,583
-1.4%
Total assets
31,590
30,123
29,355
+4.9%
10-K for the year ended 31 December 2017, filed 28 February 2018: the filing.