WEC Energy Group (WEC) FY2024 results: revenue $8.6 billion, down 3.3% on the year
WEC Energy Group, Inc. (WEC) reported revenue of $8.6 billion for fiscal 2024, the year ended 31 December 2024, down 3.3% on the year before. Net income was $1.5 billion, up 14.7%, and diluted earnings per share $4.83. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2025.
Revenue
$8.6 billion
-3.3% on the year
FY2017FY2024
Operating margin
25.0%
21.5% a year earlier
FY2017FY2024
Net income
$1.5 billion
+14.7% on the year
FY2017FY2024
Diluted EPS
$4.83
+14.5% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
3,212
3,018
2,061
+6.4%
Capital expenditure
2,781
2,493
2,315
+11.6%
Free cash flow
431
526
-254
-18.0%
Free cash flow margin
5.0%
5.9%
-2.6%
Cash from investing
-3,802
-3,558
-2,642
Cash from financing
468
523
676
-10.5%
Depreciation and amortisation
1,354
1,264
1,123
+7.1%
Share-based compensation
39.3
9.7
34.8
+305.2%
Buybacks
3.2
16.6
69.2
-80.7%
Dividends paid
1,056
984
918
+7.3%
Dividend per share
$3.34
$3.12
$2.91
+7.1%
Diluted shares, weighted
316m
316m
316m
+0.2%
Shares outstanding at period end
318m
315m
315m
+0.7%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
12,802
12,072
11,617
+6.1%
Debt
20,024
18,652
17,294
+7.4%
Operating lease liabilities
37.5
38.8
25.4
-3.4%
Finance lease liabilities
303
146
110
+107.9%
Other liabilities
14,197
13,032
12,825
+8.9%
Total liabilities and equity
47,363
43,940
41,872
+7.8%
Fixed assets
34,645
31,582
29,114
+9.7%
Goodwill
3,053
3,053
3,053
0.0%
Cash and equivalents
9.8
42.9
28.9
-77.2%
Receivables
1,669
1,503
1,818
+11.0%
Other assets
7,986
7,759
7,858
+2.9%
Total assets
47,363
43,940
41,872
+7.8%
10-K for the year ended 31 December 2024, filed 21 February 2025: the filing.