What is WEC Energy Group's natural gas — purchase obligation?

WEC Energy Group (WEC) reported natural gas — purchase obligation of $2.92B in Q4 2025.

How has WEC Energy Group's natural gas — purchase obligation changed year-over-year?

WEC Energy Group's natural gas — purchase obligation increased by 19.3% year-over-year, from $2.45B to $2.92B.

What does natural gas — purchase obligation mean?

Contractual commitments to purchase natural gas supply or pipeline capacity over a specified future period. These obligations ensure supply reliability but represent fixed financial commitments for the utility.

WEC Energy Group (WEC) Natural gas — Purchase Obligation

Screener

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$5.05B-11.2%

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Other financials

Income statement

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Revenue$2.1B+2.6%

Gross profit$1.5B+4.7%

Operating income$432.8M+6.9%

Net income$299.2M+23.1%

EPS (diluted)$0.91+19.7%

Balance sheet

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Cash & equivalents$50.0M-27.7%

Total debt$21.6B+18.0%

Total equity$14.1B+3.4%

Total assets$52.8B+8.7%

Cash flow

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Operating cash flow$992.3M+16.3%

CapEx$1.3B+52.2%

Free cash flow-$269.7M-1,228%

Valuation

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Market cap$35.28B-0.1%

Enterprise value$56.79B+6.1%

P/E20.9×-0.4×

P/S3.5×-0.3×

Profitability

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Gross margin65.7%-2.1pp

Operating margin22.8%-2.1pp

Net margin16.7%-1.1pp

FCF margin-13.5%—

Returns & leverage

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Return on equity12.2%-0.6pp

Debt / equity1.5×+0.2×

Current ratio0.5×0.0×

Where this comes from

Reported directly by WEC Energy Group in its filing.

Tagged under the XBRL concept us-gaap:PurchaseObligation.

The source filing: WEC Energy Group’s 10-K, filed February 20, 2026.

Filed: Feb 20, 2026, 10:58 AM EST
Fiscal year: FY2025
Accession: 0000783325-26-000018

(in millions)	Date Contracts Extend Through	Total Amounts Committed	Payments Due By Period / 2026	Payments Due By Period / 2027	Payments Due By Period / 2028	Payments Due By Period / 2029	Payments Due By Period / 2030	Payments Due By Period / Later Years
Purchased power	2063	335.3	61.6	56.3	52.4	25.6	5.9	133.5
Other	2043	85.5	12.0	12.1	9.6	8.4	8.5	34.9
Natural gas utility:
Supply and transportation	2048	2,921.3	487.0	478.8	426.8	323.6	203.0	1,002.1
Non-utility energy infrastructure:
Purchased power	2055	720.7	55.0	56.3	57.6	50.7	48.4	452.7
Natural gas storage and transportation	2048	4.6	3.9	—	0.1	—	—	0.6
Total		$9,525.3	$1,543.3	$1,461.6	$1,366.1	$1,250.3	$1,166.0	$2,738.0

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is WEC Energy Group's natural gas — purchase obligation?: WEC Energy Group (WEC) reported natural gas — purchase obligation of $2.92B in Q4 2025.
How has WEC Energy Group's natural gas — purchase obligation changed year-over-year?: WEC Energy Group's natural gas — purchase obligation increased by 19.3% year-over-year, from $2.45B to $2.92B.
What does natural gas — purchase obligation mean?: Contractual commitments to purchase natural gas supply or pipeline capacity over a specified future period. These obligations ensure supply reliability but represent fixed financial commitments for the utility.