WELPM WISCONSIN ELECTRIC POWER CO

Overview and Growth

Fiscal 2025 results for WISCONSIN ELECTRIC POWER CO combined $4.49B of revenue with net income of $626.80M and an operating cash inflow of $1.13B. Revenue of $4.49B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 12.9% above fiscal 2024 revenue of $3.98B, marking a year-over-year increase. Asset turnover was 0.23x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Gross profit was $2.99B, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. The gross-profit relationship equaled 66.6% of revenue, quantifying the portion retained before operating expenses were recognized. Operating income was $1.17B, the earnings remaining from reported operations after the company’s recognized operating cost structure. Relative to revenue, operating income represented 26.1%, showing how efficiently sales converted into operating profit. The bottom-line result was net income of $626.80M, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 13.9% margin after operating costs and the remaining recognized items. The earnings statement records $743.00M of pretax income, the profit base against which the reported tax provision can be assessed. Measured against revenue, pretax income equaled 16.5%, adding a pre-tax profitability layer between revenue and net income. The reported income-tax provision was $115.00M, the amount recognized between pretax income and the final net-income result. Relative to pretax income, the tax provision measured 15.5%, quantifying the portion of pre-tax earnings paid in income tax. Net income equaled 9.2% of period-end equity, showing the earnings generated on shareholders’ book capital. Net income represented 3.2% of period-end assets, placing the company’s bottom-line result against the total resource base employed.

Liquidity and Capital Structure

Total assets were $19.70B, supported by $12.92B of liabilities and $6.78B of shareholder equity. The near-term balance sheet paired $1.36B of current assets with $1.78B of current liabilities at the reporting date. At 0.76x, current liabilities exceeded current assets and placed pressure on the company’s near-term liquidity position. Reported cash and equivalents were $0.00, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 0.0%, excluding receivables and other current assets. Borrowings totaled $4.53B, adding a fixed financing obligation alongside the company’s equity capital. Debt equaled 0.67x of book equity, describing the relative scale of borrowing and shareholder capital. Relative to total assets, debt measured 23.0%, showing how much of the asset base was matched by borrowing. Relative to total assets, liabilities measured 65.6%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 0.0%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 14.5% higher than fiscal 2024 assets of $17.20B, measuring the company’s own balance-sheet change.

Cash Flow and Earnings Quality

Cash flow from operations was $1.13B, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 1.8x, showing the relationship between accrual earnings and operating cash. The cash-flow statement records $2.74B of capital expenditures, the investment amount considered after operating cash generation. Capital spending absorbed 243.2% of operating cash flow, quantifying the share of cash from operations directed to investment. Operating cash flow and capital spending combined to leave a $1.62B cash deficit after capital spending. Relative to revenue, the post-investment cash deficit represented 35.9%. The cash deficit after capital spending represented 8.2% of the period-end asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 26, 2026.