Wisconsin Electric Power Company cash flow statement WELPP

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Wisconsin Electric Power Company generated $1.1 billion of cash from operations, down 10.8% from the year before. It spent $2.7 billion on capital expenditures. Free cash flow was negative, at -$1.6 billion.

USD in millions, except per-share amounts and ratios. The percent under a figure is the change from the year before.

Line	FY 2026 Sep 30, 2026	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2014 Dec 31, 2014	FY 2013 Dec 31, 2013	FY 2012 Dec 31, 2012
Operating
Depreciation and amortization	665 +8.3%	630 +9.8%	574 +9.3%	525 +9.4%	480 +4.8%	458 +7.3%	427 +11.1%	384 +10.4%	278 +20.7%	231 -10.5%	258 +16.9%
Operating cash flow	1,458 +16.2%	1,128 -10.8%	1,264 +34.7%	939 +47.4%	637 -20.6%	802 +4.6%	767 -10.2%	854	863 +0.0%	863 +6.9%	807 +48.4%
Investing
Capital expenditures	2,998 +26.8%	2,743 +90.1%	1,443 +31.8%	1,095 +17.6%	930 +14.4%	813 +22.6%	664 +12.4%	591 -2.1%	562 +4.2%	539 -6.4%	576 -18.5%
Investing cash flow	-3,124 -35.1%	-2,704 -75.9%	-1,538 -25.3%	-1,227 -34.3%	-914 -14.5%	-798 -26.5%	-631 -9.3%	-577	-568 -1.3%	-560 +7.5%	-606 +20.5%
Financing
Debt issued	1,691 +238.5%	800 -15.6%	947	0 -100.0%	500 +19.4%	419	0 -100.0%	300 +0.0%	250 +0.0%	250 +0.0%	250 -16.7%
Debt repaid	9 -98.4%	259 -16.1%	309 +3371.9%	9 +1.1%	9 -97.1%	304	0 -100.0%	250 +0.0%	300 +0.0%	300	—
Dividends paid	—	—	—	—	—	—	—	—	390 +14.7%	340 +89.3%	180 -25.0%
Financing cash flow	1,665 +106.0%	1,577 +487.9%	268 +8.1%	248 -22.9%	322 +3929.8%	-8 +94.3%	-148 +46.8%	-279	-296 +4.8%	-312 -73.1%	-180 -186.7%
Change in cash
Net change in cash	-1 +99.6%	0 +102.0%	-5 +87.6%	-40 -189.9%	45 +1164.3%	-4 +64.7%	-12	—	—	—	—
Free cash flow	-1,540 -38.8%	-1,615 -806.3%	-178 -14.6%	-156 +47.0%	-293 -2543.2%	-11 -110.7%	104 -60.8%	264	301 -7.0%	324 +40.0%	231 +242.1%
Shareholder returns
Returned to shareholders	—	—	—	—	—	—	—	—	390	340	180
Share of free cash flow	—	—	—	—	—	—	—	—	129.57%	105.04%	77.68%
Ratios
Free cash flow margin	-31.77%	-35.94%	-4.48%	-3.84%	-7.21%	-0.30%	3.07%	7.54%	7.41%	8.52%	—
Capital expenditures to revenue	61.85%	61.04%	36.25%	27.06%	22.86%	22.19%	19.71%	16.89%	13.84%	14.18%	—
Cash conversion	—	—	—	—	—	—	—	—	2.28x	2.39x	2.20x

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and ratios. Capital expenditures, debt repaid, dividends, and buybacks are positive amounts. Investing and financing cash flow keep the filing sign, so an outflow is negative. Free cash flow is operating cash flow minus capital expenditures. The first column is the trailing twelve months through the latest quarter. Returned to shareholders is dividends plus buybacks. Free cash flow margin, capital expenditures, and stock-based compensation are divided by revenue. Cash conversion is operating cash flow divided by net income. More on our methodology.

Company profile

Industry: Electric Services (SIC 4911)
Listed as: WELPP (OTC), WELPM (OTC)
Fiscal year ends: December 31
Incorporated in: WI
Headquarters: Milwaukee, WI
SEC filer status: Non-accelerated filer
SEC CIK: 107815

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.