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WEC Energy Group Inc (WEC) fair value: what the stock is really worth

As of Nov 5, 2026: fair value (intrinsic value) of WEC Energy Group Inc stock $54.77, price $118, that is 53.7% below the price, quality 46 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.

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Utilities US

WE WEC Energy Group Inc logo Broad data Nov 3, 2026

WEC Energy Group Inc

WEC · US
Very expensive, weak quality

Our calculation puts a fair price 54% below what the stock costs today.

Solidly profitable · 17.5% net margin (TTM)
Upbeat coverage
Broad data
Profit last quarter +42% vs. a year ago.
Quality 46/100
Expensive Growth (revenue 5y +6.2 %/yr in USD)
Moderate debt
3.2% dividend yield · Watch coverage
Moderate moat 61/100 · thin data
Insiders sold $1.2M (6M)
Fair value $54.77 · Strongly overvalued (−53.7%)
Negative free cash flow
Trails peers (5/14)

Risks from the AI analysis

🚩PSC approval and Oracle lawsuit risks for Point Beach deal

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$118.32 $69.19 Fair Value $54.77 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.

How to read this chart

60‑month range $69.19 – $118.32 · fair‑value band $39.11 – $78.67 · the $118.32 price screens above the $54.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.

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Company profile

WEC Energy Group, Inc., through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States.

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The company operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.

It generates and distributes electricity from coal, natural gas, oil, and nuclear, as well as renewable energy resources, including wind, solar, hydroelectric, and biomass; and distributes and hydroelectric natural gas.

The company also owns, maintains, monitors, and operates electric transmission systems; and generates, distributes, and sells steam.

As of December 31, 2025, the company operated approximately 35,200 miles of overhead distribution lines and 37,600 miles of underground distribution cables, as well as 420 electric distribution substations and 649,500 line transformers; approximately 47,200 miles of natural gas distribution mains; 1,300 miles of natural gas transmission mains; 2.4 million natural gas lateral services; 510 natural gas distribution and transmission gate stations; and 67.0 billion cubic feet of working gas capacities in underground natural gas storage fields.

The company was formerly known as Wisconsin Energy Corporation and changed its name to WEC Energy Group, Inc. in June 2015. WEC Energy Group, Inc. was founded in 1896 and is headquartered in Milwaukee, Wisconsin.

Stock analysis

WEC Energy Group Inc (WEC) currently trades at $118.32, while our model-based Fair Value estimate is $54.77, 54% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of $73.49 per share, and 0 of the 16 models we run sit above the $118.32 price.

Bear case: the Asset-Based group reads lowest at $20.39, and 16 of the 16 models stay below the price. Data coverage for this calculation is high.

Scenario range: $39.11 (bear) to $78.67 (bull), the price of $118.32 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 46/100 (below-average quality), in the Utilities sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

WEC Energy Group Inc reported revenue of $9.8B in FY2025 versus $8.3B in FY2021, a compound +4.2%/yr. Reported net income was $1.6B in FY2025, compounding +4.6%/yr from FY2021.

Key figures

Market cap $38.9B Large · P/E ratio 21.5 · P/S ratio 3.77 · EPS (TTM) $5.50 · Dividend yield 3.2% · Net margin 17.5% · Return on equity 12.5% · Return on assets (EBIT) 4.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 61 out of 100 (low confidence).

What moves the price

The share trades at its 52-week high and 17% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −38% fair-value upside, at −54%, WEC screens richer than that median.

Fair Value models

Bear $39.11 Fair Value $54.77 Bull $78.67
Price $118.32 · Downside -53.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($1.49 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income $39.11 $45.69 $59.54 76
EPV $11.70 $24.30 $35.67 70
ROIC Compounder $11.70 $24.30 $35.67 69
All 16 models by family
Earnings-Based
Graham-Dodd $32.21 $88.28 $115.82 65
Lynch FV $17.51 $25.01 $32.51 61
PEG = 1.0 $17.51 $25.01 $32.51 57
EPV $11.70 $24.30 $35.67 70
Dividend Discount
Gordon GGM $34.97 $80.05 $143.55 65
DDM Multi-Stage $34.97 $56.87 $82.34 66
Multiples
P/E Multiple $63.95 $85.26 $106.58 63
P/S Multiple $55.85 $74.47 $93.09 58
P/B Multiple $41.08 $54.77 $68.47 55
EV/EBIT $13.47 $40.54 $67.61 60
EV/EBITDA $20.10 $49.39 $78.67 63
EV/Revenue n/a $6.73 >$26.92 50
Asset-Based
NCAV (Graham) $15.21 $20.39 $30.43 54
Economic Profit
Residual Income $39.11 $45.69 $59.54 76
ROIC Compounder $11.70 $24.30 $35.67 69
Growth Earnings
Growth-Adj P/E $51.44 $73.49 $95.54 67

Open the full fair value analysis →

Quality Score breakdown

Overall quality 46/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 34
How much profit the company makes from its sales and capital
Quality Growth 55
Are margins and returns getting better?
Cashflow 50
Do the profits arrive as real cash?
Financial strength 14
Debt, balance sheet and risk of trouble
Investment 45
Does it invest with discipline instead of growing at any price?
Low Volatility 98
How calm the share price moves, does not count
Price momentum 46
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 72
Distance to the 52-week high, does not count
New shares 73
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, 3 officers or directors sold shares worth $1.2M and none bought.

  • SaleMolly A MulroyEVP & Chief Admin Officer4,695 shares at $117.02$549,407Nov 4, 2026
  • SaleUlice Payne JrDirector2× since Feb 24, 2026: 2,430 shares, avg. $110.96$269,638Aug 11, 2026
  • SaleDaniel KruegerEVP WEC Infrastructure4,665 shares at $110.96$517,618May 19, 2026
  • SaleGale E KlappaDirector2× since Feb 13, 2026: 33,180 shares, avg. $115.61$3.8MFeb 23, 2026
  • SaleMary Beth StrakaSr. VP-Corp Comm & Inv Rel2,815 shares at $115.50$325,133Feb 13, 2026
  • SaleScott J LauberPresident and CEO, Director8,089 shares at $110.70$895,452Feb 9, 2026
  • SaleJoshua M EricksonVP and Deputy General Counsel100 shares at $112.47$11,247Nov 7, 2025

Plus 3 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 5, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+14.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.2%
Start year 2020 (pandemic). Over 10 years: +5.2% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.9%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+7.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.6%
Dividend (yield on the price)3.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.4.6% vs 6.3%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.24% → 24%
Pace: the 5-year rate starts in 2020 (pandemic)

WEC screens overvalued: fair value 54% below the price. Compare with NextEra Energy, Inc →

Recent news

News mood ⓘNews mood, the average tone of recent news (97 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
Note from the team Oct 11, 2026
AI conclusion: Regulated stability and the nuclear plant deal provide volume potential, yet negative free cash flow together with elevated debt constrain financial flexibility.
Main risk: Challenges by Oracle against Wisconsin PSC credit requirements and the need for commission approval of the Point Beach nuclear output agreement could delay or block the deal, limiting contracted volumes and cost recovery at the regulated nuclear plant.
Bull case: Successful navigation of PSC approvals and resolution of the Oracle dispute could secure long-term nuclear output contracts, supporting stable volumes and earnings in the regulated model.
Bear case: Failure to obtain approvals or an Oracle withdrawal could leave Point Beach nuclear costs with other ratepayers or reduce dedicated volumes, pressuring margins in the rate-regulated nuclear operations.
WEC runs the Point Beach nuclear plant, which recently agreed to supply 10 to 20 percent of its output to Oracle for data centers. This kind of tech demand could lift volumes at a regulated nuclear asset, yet it also depends on state commission approval and may not translate directly into higher allowed returns. Does the deal strengthen the case for steady nuclear earnings or highlight limits in a rate-regulated model?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Regulated Electric · 156 stocks

Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score 46 · Below median
Fair Value upside −53.7% · Bottom 25%
Profitability
Return on equity (12 months) 12.5% · Above median
Return on assets 3.0% · Below median
Net margin (12 months) 17.5% · Top 25%
Operating margin (12 months) 25.4% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) 8.9% · Above median
Dividend yield (12 months) 3.2% · Above median
Balance sheet
Debt / equity 1.36× · Above median

Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper

P/E (12 months) 21.5× · Pricier than median
P/B 2.85× · Priciest 25%
P/S (12 months) 3.77× · Priciest 25%
EV/EBITDA 14.1× · Priciest 25%
PEG 2.28× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 12
FUTURE (revenue growth)45 · sector 22
PAST (return on equity)50 · sector 39
HEALTH (low debt)32 · sector 52
DIVIDEND (yield)63 · sector 63

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
PG&E Corporation PCG $13.23 $17.29 +31% vs WEC
American Electric Power Company AEP $126.77 $100.03 −21% vs WEC
Exelon Corporation EXC $46.53 $36.01 −23% vs WEC
Xcel Energy Inc XEL $80.37 $53.45 −34% vs WEC
The Southern Company SO $93.34 $57.57 −38% vs WEC
Duke Energy Corporation DUK $130.08 $75.79 −42% vs WEC
Dominion Energy, Inc D $69.64 $37.88 −46% vs WEC
Consolidated Edison, Inc ED $121.44 $47.76 −61% vs WEC
Entergy Corporation ETR $110.30 $37.37 −66% vs WEC
NextEra Energy, Inc NEE $88.25 $29.83 −66% vs WEC

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Cite: Fair Value Calculator (2026). "WEC Energy Group Inc Fair Value". https://www.fairvalue-calculator.com/stock/WEC

Frequently asked questions

Is WEC Energy Group Inc (WEC) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of $54.77 versus a price of $118.32, about 54% lower (overvalued).
What is the fair value of WEC?
Our model-based fair value for WEC Energy Group Inc is $54.77 (as of Nov 3, 2026), built from audited fundamentals. The current price: $118.32.
What is the quality score of WEC?
WEC Energy Group Inc has a Quality Score of 46/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for WEC Energy Group Inc (WEC)?
Our model-based price target is the fair value of $54.77 (as of Nov 3, 2026) from 16 valuation models. Cautious scenario $39.11, optimistic scenario $78.67. It is a calculation from audited fundamentals, not an analyst target.
What is the WEC Energy Group Inc stock forecast for 2026?
Our models put fair value at $54.77, about 54% lower versus a price of $118.32 (overvalued). Cautious scenario $39.11, optimistic scenario $78.67. The calculation is refreshed regularly with new filings.
What is the revenue of WEC Energy Group Inc (WEC)?
WEC Energy Group Inc reported trailing-twelve-month revenue of about $10.3B (latest available figure, as of Nov 3, 2026).
Does WEC Energy Group Inc pay a dividend?
WEC Energy Group Inc currently shows a dividend yield of 3.17% relative to its recent price (as of Nov 3, 2026).
What is the intrinsic value of WEC Energy Group Inc (WEC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For WEC Energy Group Inc it is $54.77 per share (as of Nov 3, 2026), against a price of $118.32. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is WEC Energy Group Inc stock overvalued or undervalued in 2026?
As of Nov 3, 2026, WEC trades above its calculated fair value: price $118.32, fair value $54.77, a gap of about −54% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WEC?
No. The price is what the market pays today ($118.32); the fair value is what the company's own numbers justify ($54.77). For WEC Energy Group Inc the two are $63.55 per share apart. That gap is exactly why we show both numbers side by side.
How much is WEC Energy Group Inc worth?
The market values WEC Energy Group Inc at about $38.9B (market capitalisation, as of Nov 3, 2026). Per share that is $118.32; our models calculate a fair value of $54.77 per share.
What do the bullish and bearish scenarios say about WEC?
Our models span a range for WEC Energy Group Inc: cautious scenario $39.11, base $54.77, optimistic $78.67 per share (as of Nov 3, 2026, price $118.32). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WEC?
WEC Energy Group Inc trades at a price-to-earnings ratio of 21.5 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $54.77 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2016, FY2025 ex one-offs: 20.9. Other multiples: PEG 2.3, P/B 2.9, P/S 3.8, EV/EBITDA 14.1.
What is the PEG ratio of WEC?
The PEG ratio of WEC Energy Group Inc is 2.28 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of WEC Energy Group Inc (WEC)?
Balance-sheet figures for WEC Energy Group Inc (as of Nov 3, 2026): return on equity 12.5%, debt of 1.36 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is WEC from its 52-week high?
WEC Energy Group Inc trades at $118.32, at its 52-week high of $118.32 and 17% above the low of $100.78 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $54.77 is for.
Which stocks are comparable to WEC Energy Group Inc?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is WEC Energy Group Inc stock attractive at the current price?
The data as of Nov 3, 2026: price $118.32, calculated fair value $54.77 (−54%), Quality Score 46/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WEC calculated?
We run WEC Energy Group Inc through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $54.77, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. WEC Energy Group Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of WEC Energy Group Inc (WEC)?
The closing price on Nov 5, 2026 was $118.32. Our model-based fair value is $54.77, about 54% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with WEC Energy Group Inc right now?
The price sits above even our optimistic bull case ($78.67). The favourable scenario is already priced in. Weak quality (46/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range ($39.11 to $78.67) leaves room in how you read the outcome.
Where does the earnings growth of WEC Energy Group Inc (WEC) come from?
Earnings per share at WEC Energy Group Inc grew +6.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.6 %, EBIT margin +0.8 %, tax rate +4.2 %, residual (interest, one-offs) −1.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of WEC Energy Group Inc

How large is the market capitalisation of WEC Energy Group Inc (WEC)?
The market capitalisation of WEC Energy Group Inc is $38.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of WEC Energy Group Inc (WEC)?
The price-to-sales ratio of WEC Energy Group Inc is 3.77 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of WEC Energy Group Inc (WEC)?
Earnings per share at WEC Energy Group Inc are $5.50 (price ÷ EPS = P/E 21.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of WEC Energy Group Inc (WEC)?
The dividend yield of WEC Energy Group Inc is 3.2% (payout 68.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of WEC Energy Group Inc (WEC)?
The net margin of WEC Energy Group Inc is 17.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of WEC Energy Group Inc (WEC)?
The return on equity (ROE) of WEC Energy Group Inc is 12.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of WEC Energy Group Inc (WEC)?
On an EBIT basis the return on assets of WEC Energy Group Inc is 4.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of WEC Energy Group Inc (WEC)?
The operating margin of WEC Energy Group Inc is 25.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at WEC Energy Group Inc (WEC)?
Revenue at WEC Energy Group Inc is growing +8.9% versus a year earlier (3y avg +0.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at WEC Energy Group Inc (WEC)?
Earnings per share at WEC Energy Group Inc are growing +42.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does WEC Energy Group Inc (WEC) generate?
The free cash flow of WEC Energy Group Inc is −$1.0B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does WEC Energy Group Inc (WEC) carry?
The net debt of WEC Energy Group Inc is $22.3B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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