Direct Answer
WEC Energy Group reports revenue across 4 business segments in its fiscal 2025 Form 10-K. Wisconsin is the largest, with $7.3 billion of revenue (74% of the total), followed by Illinois at $1.7 billion (17%).
How Does WEC Energy Group Make Money?
Wisconsin supplies 74% of revenue, so WEC Energy Group's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Other States grew fastest (+17.3%) and Illinois slowest (+5.1%), so the revenue mix tilts toward Other States while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Wisconsin | $7.3 billion | $6.3 billion | 74.4% | 15.2% |
| Illinois | $1.7 billion | $1.6 billion | 17.2% | 5.1% |
| Non Utility Energy Infrastructure | $770 million | $691 million | 7.9% | 11.4% |
| Other States | $528 million | $450 million | 5.4% | 17.3% |
What the Segment Figures Do Not Show
The rows above add up to 105% of WEC Energy Group's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value WEC Energy Group reported in the segment note and revenue disclosures of its Form 10-K filed February 20, 2026 (accession 0000783325-26-000018), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are WEC Energy Group's business segments?
In its fiscal 2025 Form 10-K, WEC Energy Group reports revenue for Wisconsin, Illinois, Non Utility Energy Infrastructure and Other States.
Which part of WEC Energy Group brings in the most revenue?
Wisconsin, with $7.3 billion of revenue in fiscal 2025, or 74% of the total.
Where does WEC Energy Group report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed February 20, 2026, alongside management's discussion of each segment's results.