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WEC Energy Group cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$36.4M in Q3 2026 · $3.8B over twelve months

Operating cash flow$1.2B
Capital spending−$1.2B
Free cash flow−$36.4M
Cash / net income3.1×
Cash conversion cycle-92 days

Analysis

In Q3 2026, WEC Energy Group generated $1.2B of operating cash flow and spent $1.2B on capital projects, leaving free cash flow of −$36.4M. That is $614M more than in Q3 2025 (−$651M).

Over the twelve months to Sep 30, 2026, operating cash flow was $3.8B; the largest uses were other investing ($4.9B), dividends ($1.2B), other financing ($46.2M); besides operations, cash came from net borrowing (+) / repaid (−) ($1.9B), shares issued ($409M); the cash balance rose by $12.8M.

Operating cash flow was $1.2B against net income of $390M — 3.1× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$389M, deferred taxes +$146M, inventory −$121M.

Its cash conversion cycle was -92 days (receivables 59 + inventory 0 − payables 151): suppliers fund its working capital.

Free cash flow

WEC Energy Group: free cash flow by quarterWEC Energy Group: free cash flow by quarter$582MQ4 2024$462MQ1 2025$23.9MQ2 2025−$651MQ3 2025$425MQ4 2025$400MQ1 2026−$270MQ2 2026−$36.4MQ3 2026
Operating cash flow less capital spending.
WEC Energy Group: operating cash flow against capital spendingWEC Energy Group: operating cash flow against capital spendingOperating cash flowCapital spending$582M$0Q4 2024$1.2B$701MQ1 2025$853M$829MQ2 2025$939M$1.6BQ3 2025$425M$0Q4 2025$1.2B$818MQ1 2026$992M$1.3BQ2 2026$1.2B$1.2BQ3 2026
Latest (Q3 2026): Operating cash flow $1.2B, Capital spending $1.2B.

Capital allocation, year by year

WEC Energy Group: where the cash came from (up) and went (down), by fiscal yearWEC Energy Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $2.0BFY2021: Net borrowing $1.2BFY2021: Shares issued $15.7MFY2021: Asset sales $21.9MFY2021: Capital spending −$2.4BFY2021: Buybacks −$33.1MFY2021: Dividends −$855M$3.3BFY2021FY2022: Operating cash flow $2.1BFY2022: Net borrowing $1.7BFY2022: Shares issued $33.6MFY2022: Asset sales $69.0MFY2022: Capital spending −$2.7BFY2022: Buybacks −$69.2MFY2022: Dividends −$918M$3.8BFY2022FY2023: Operating cash flow $3.0BFY2023: Net borrowing $1.5BFY2023: Shares issued $6.3MFY2023: Asset sales $32.8MFY2023: Capital spending −$2.5BFY2023: Buybacks −$16.6MFY2023: Dividends −$984M$4.6BFY2023FY2024: Operating cash flow $3.2BFY2024: Net borrowing $1.4BFY2024: Shares issued $187MFY2024: Asset sales $1.7MFY2024: Capital spending −$2.8BFY2024: Buybacks −$3.2MFY2024: Dividends −$1.1B$4.8BFY2024FY2025: Operating cash flow $3.4BFY2025: Net borrowing $1.9BFY2025: Shares issued $801MFY2025: Capital spending −$4.4BFY2025: Buybacks −$1.3MFY2025: Dividends −$1.1B$6.1BFY2025
Over these 5 years operating cash flow totalled $13.7B; the largest uses were capital spending ($14.7B) and dividends ($5.0B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$58.8M
Debt$21.9B
Net debt$21.9B
Due within a year$1.5B

WEC Energy Group funds itself: free cash flow was $3.8B over the last twelve months, and $58.8M of cash and investments stands against $21.9B of debt ($1.5B due within a year, 0.0× covered by cash).

WEC Energy Group: debt maturities by year (FY2025)WEC Energy Group: debt maturities by year (FY2025)$1.5BYear 1$2.1BYear 2$3.2BYear 3$2.9BYear 4$1.7BYear 5$8.6BAfter year 5
Principal due in each year as disclosed in the annual report, against $58.8M of cash and investments now.

Where the cash came from and went

WEC Energy Group: sources (+) and uses (−) of cash, Q3 2026WEC Energy Group: sources (+) and uses (−) of cash, Q3 2026Capital spending−$1.2BOperating cash flow$1.2BShares issued$360MDividends−$310MNet borrowing (+) / repaid (−)$192MOther investing−$162MCash drawn (+) / kept (−)−$34.6MOther financing−$9.6MAsset & business sales$1.6M
WEC Energy Group: sources (+) and uses (−) of cash, TTM to Q3 2026WEC Energy Group: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$4.9BOperating cash flow$3.8BNet borrowing (+) / repaid (−)$1.9BDividends−$1.2BShares issued$409MOther financing−$46.2MCash drawn (+) / kept (−)−$12.8M

From profit to cash

WEC Energy Group: net income to operating cash flow, Q3 2026WEC Energy Group: net income to operating cash flow, Q3 2026Net income$390MDepreciation & amortization$389MDeferred taxes$146MGains on investments−$1.0MReceivables$108MInventory−$121MPayables$9.0MPrepaid and other assets$25.2MOther liabilities$78.8MOperating cash flow$1.2B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202659—151-92
Q2 202676—151-75
Q1 202652—64-12
Q4 202560—103-42
Q3 202560—131-71
Q2 202575—128-53
Q1 202550—74-25
Q4 202457—117-60

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$1.2B−$1.2B—−$310M$192M$360M−$34.6M−$36.4M
Q2 2026$992M−$1.3B—−$310M$618M$12.7M$11.4M−$270M
Q1 2026$1.2B−$818M—−$310M$5.5M$20.2M−$36.4M$400M
Q4 2025$425M——−$290M$1.1B$16.8M$46.8M$425M
Q3 2025$939M−$1.6B—−$289M$651M$361M−$48.5M−$651M
Q2 2025$853M−$829M—−$285M−$42.2M$285M$74.2M$23.9M
Q1 2025$1.2B−$701M−$1.3M−$284M$192M$138M−$101M$462M
Q4 2024$582M——−$265M$1.0B$123M$319M$582M

WEC Energy Group: income statement and cash flow

WEC Energy Group, Q3 2026: revenue $2.3B (+9% year over year), operating margin 24.6%. The chart follows the revenue to costs, profit and cash.

WEC Energy Group: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.