WEC Energy Group (WEC) FY2021 results: revenue $8.3 billion, up 14.8% on the year
WEC Energy Group, Inc. (WEC) reported revenue of $8.3 billion for fiscal 2021, the year ended 31 December 2021, up 14.8% on the year before. Net income was $1.3 billion, up 8.4%, and diluted earnings per share $4.11. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2022.
Revenue
$8.3 billion
+14.8% on the year
FY2014FY2021
Operating margin
20.6%
23.6% a year earlier
FY2014FY2021
Net income
$1.3 billion
+8.4% on the year
FY2014FY2021
Diluted EPS
$4.11
+8.4% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,033
2,196
2,346
-7.4%
Capital expenditure
2,253
2,239
2,261
+0.6%
Free cash flow
-220
-42.8
84.7
Free cash flow margin
-2.6%
-0.6%
1.1%
Cash from investing
-2,312
-2,807
-2,495
Cash from financing
294
601
85.6
-51.1%
Depreciation and amortisation
1,074
976
926
+10.1%
Share-based compensation
15.7
35.7
50.2
-56.0%
Buybacks
33.1
99.2
140
-66.6%
Dividends paid
855
798
744
+7.1%
Dividend per share
$2.71
$2.53
$2.36
+7.1%
Diluted shares, weighted
316m
316m
317m
-0.1%
Shares outstanding at period end
315m
315m
315m
0.0%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
11,113
10,662
10,255
+4.2%
Debt
15,590
14,291
12,735
+9.1%
Operating lease liabilities
29.1
n/a
37.0
Finance lease liabilities
51.3
55.3
39.6
-7.2%
Other liabilities
12,205
12,020
11,886
+1.5%
Total liabilities and equity
38,988
37,028
34,952
+5.3%
Fixed assets
26,982
25,707
23,620
+5.0%
Goodwill
3,053
3,053
3,053
0.0%
Cash and equivalents
16.3
24.8
37.5
-34.3%
Receivables
1,506
1,203
1,176
+25.2%
Other assets
7,431
7,040
7,065
+5.6%
Total assets
38,988
37,028
34,952
+5.3%
10-K for the year ended 31 December 2021, filed 24 February 2022: the filing.