WEC Energy Group Inc (WEC)

Net profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	1,332,900	1,409,300	1,301,500	1,201,100	1,135,200
Revenue	US$ in thousands	8,893,000	9,597,400	8,316,000	7,241,700	7,523,100
Net profit margin		14.99%	14.68%	15.65%	16.59%	15.09%

December 31, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $1,332,900K ÷ $8,893,000K
= 14.99%

The net profit margin of WEC Energy Group Inc has shown a fluctuating trend over the past five years. It decreased slightly from 15.07% in 2019 to 14.67% in 2022 before rebounding to 15.64% in 2021. However, in the most recent year, the net profit margin declined further to 14.97%. This suggests that the company's ability to convert revenues into profits has been somewhat volatile in recent years. Further analysis is recommended to determine the factors influencing these fluctuations and to assess the sustainability of the company's profitability levels.