WEC ENERGY GROUP, INC（WEC）の決算・業績分析
WEC ENERGY GROUP, INCの2025年有価証券報告書をAI分析。売上高$9.8B(+14.0%)。営業利益$2.2B。Utilities。
目次
WEC ENERGY GROUP, INCの2025年度 業績サマリー
WEC ENERGY GROUP, INC（証券コード: WEC）の2025年度決算・業績分析。売上高は$9.8B（前年比+14.0%）。営業利益は$2.2B（前年比+4.3%）。純利益は$1.6B（前年比+2.0%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
WEC ENERGY GROUP, INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 15.4% YoY to $9.6B (XBRL), driven by utility operations and renewable energy investments.
- Operating income increased 12.2% YoY to $1.9B (XBRL), with a 20.1% operating margin (XBRL).
- Net income rose 8.6% YoY to $1.4B (XBRL), supported by a 14.7% net margin (XBRL).
- Net debt reached $15.3B (5.0x EBITDA) (XBRL), reflecting high leverage despite strong cash flow generation.
- Shareholder returns totaled $987M (XBRL), with $918M in dividends and $69M in share repurchases.
WEC ENERGY GROUP, INCの売上高変化の要因
- •Total revenue reached $9.6B (XBRL), a 15.4% YoY increase. Historical data shows revenue growth from $7.7B (FY2020) to $9.6B (FY2024), with a slight decline to $8.9B in FY2025 (XBRL). Segment-specific revenue figures are not disclosed (XBRL). Growth drivers are not explicitly detailed in the data, but may relate to utility operations and renewable energy investments (10-K).
WEC ENERGY GROUP, INCの営業利益変化の要因
- •Operating income rose 12.2% YoY to $1.9B (XBRL), with a 20.1% operating margin (XBRL). Net income increased 8.6% YoY to $1.4B (XBRL), reflecting a 14.7% net margin (XBRL). EBITDA totaled $3.0B (31.8% margin) (XBRL). Gross profit is not reported (XBRL). Five-year CAGR for revenue, operating income, and net income were 3.0%, 5.4%, and 4.7%, respectively (XBRL).
WEC ENERGY GROUP, INCの事業リスクと対応
Regulatory risks: Government regulations impact cost recovery, operations, and compliance, with potential penalties or rate adjustments (10-K).
Rate regulation uncertainty: Future rate approvals may not fully recover costs or ensure reasonable returns, affecting financial stability (10-K).
Political/regulatory environment shifts: Changes in policies or regulations could delay projects, increase costs, or reduce recoverable investments (10-K).
Capital cost disallowances: Regulatory decisions (e.g., ICC orders) have led to impairment losses and restricted future spending on infrastructure (10-K).
Infrastructure compliance mandates: The ICC’s 2035 pipe replacement deadline and potential penalties create uncertainty for capital recovery in Illinois (10-K).
New risks: The ICC’s 2025 order requiring pipe replacement by 2035 and the August 2024 disallowance of capital costs introduced uncertainty in recovery and increased compliance burdens (10-K).
WEC ENERGY GROUP, INCの今後の見通し・業績予想
WEC ENERGY GROUP, INCの事業内容
WEC Energy Group operates regulated electric and natural gas utilities, generating revenue through energy sales to retail (93.4% of electric revenues), wholesale, and resale customers (10-K). The company also invests in nonregulated renewable energy and holds a 60% equity stake in ATC, an electric transmission company (10-K). Key segments include regulated utilities serving Wisconsin, Michigan, and other regions, alongside renewable energy operations (10-K). No significant customer concentration is reported (10-K). Competitive advantages, intellectual property, or barriers to entry are not explicitly mentioned in the data (10-K).
WEC ENERGY GROUP, INCのAI業績分析レポート（2024年度）
WEC Energy Group, Inc. (WEC) Annual Report Analysis FY2024
Highlights
Business Overview
WEC Energy Group operates regulated electric and natural gas utilities, generating revenue through energy sales to retail (93.4% of electric revenues), wholesale, and resale customers (10-K). The company also invests in nonregulated renewable energy and holds a 60% equity stake in ATC, an electric transmission company (10-K). Key segments include regulated utilities serving Wisconsin, Michigan, and other regions, alongside renewable energy operations (10-K). No significant customer concentration is reported (10-K). Competitive advantages, intellectual property, or barriers to entry are not explicitly mentioned in the data (10-K).
Revenue Analysis
Total revenue reached $9.6B (XBRL), a 15.4% YoY increase. Historical data shows revenue growth from $7.7B (FY2020) to $9.6B (FY2024), with a slight decline to $8.9B in FY2025 (XBRL). Segment-specific revenue figures are not disclosed (XBRL). Growth drivers are not explicitly detailed in the data, but may relate to utility operations and renewable energy investments (10-K).
Profitability Analysis
Operating income rose 12.2% YoY to $1.9B (XBRL), with a 20.1% operating margin (XBRL). Net income increased 8.6% YoY to $1.4B (XBRL), reflecting a 14.7% net margin (XBRL). EBITDA totaled $3.0B (31.8% margin) (XBRL). Gross profit is not reported (XBRL). Five-year CAGR for revenue, operating income, and net income were 3.0%, 5.4%, and 4.7%, respectively (XBRL).
Balance Sheet Analysis
Equity ratio stood at 26.5% (XBRL), with a current ratio of 0.55x (XBRL). Total assets grew to $41.9B (XBRL), while total equity reached $11.1B (XBRL). Long-term debt was $15.4B (XBRL), and net debt was $15.3B (5.0x EBITDA) (XBRL). Cash reserves were $29M (XBRL). ROE was 12.7% (XBRL), and ROA was 3.4% (XBRL).
Cash Flow Analysis
Operating cash flow totaled $2.1B (XBRL), while free cash flow was -$582M (XBRL) due to $2.6B in investing cash outflows (XBRL). Capital expenditures included $9.1B in renewable energy investments (2025–2029) (10-K). Financing activities included $676M in cash inflows, driven by $918M in dividends paid (XBRL) and $69M in share repurchases (XBRL).
Working Capital Analysis
Receivables days were 57 (XBRL), and payables days were 75 (XBRL). Asset turnover was 0.23x (XBRL). No data on inventory days or cash conversion cycle (CCC) is available (XBRL).
Risks
Outlook
Management expects continued investment in renewable energy, including 2,900 MW of solar and 900 MW of wind projects, alongside retiring fossil-fueled generation. The company aims to reduce carbon emissions by 60% by 2025 and 80% by 2030 (10-K). Forward-looking guidance on financial metrics or specific growth targets is not quantified in the data (10-K).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 7.7B | 7.5B | 7.2B | 8.3B | 9.6B | 8.9B |
| Operating Income | 1.5B | 1.5B | 1.7B | 1.7B | 1.9B | 1.9B |
| Net Income | 1.1B | 1.1B | 1.2B | 1.3B | 1.4B | 1.3B |
| Total Assets | 33.5B | 35.0B | 37.0B | 39.0B | 41.9B | 43.9B |
| Total Equity | N/A | N/A | 10.3B | 10.7B | 11.1B | 11.6B |
| Operating Cash Flow | 2.4B | 2.3B | 2.2B | 2.0B | 2.1B | 3.0B |
Utilitiesの企業一覧
WEC ENERGY GROUP, INCと同じ「Utilities」セクターの企業