WEC Energy Group Inc (WEC)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 1,908,000 | 1,924,200 | 1,714,900 | 1,706,100 | 1,531,400 |
| Revenue | US$ in thousands | 8,893,000 | 9,597,400 | 8,316,000 | 7,241,700 | 7,523,100 |
| Operating profit margin | 21.46% | 20.05% | 20.62% | 23.56% | 20.36% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $1,908,000K ÷ $8,893,000K
= 21.46%
The operating profit margin of WEC Energy Group Inc has exhibited fluctuating trends over the past five years. In 2023, the operating profit margin increased to 23.47%, indicating that the company generated $0.23 in operating profit for every dollar of sales. This represents an improvement compared to the previous year when the margin was 20.05%. Despite the increase, it is noteworthy that the operating profit margin in 2023 is slightly lower than the 23.56% achieved in 2020, which was the highest among the years presented. Overall, the company has demonstrated a relatively healthy ability to control operating expenses and convert revenues into operating profits over the period under review.
Peer comparison
Dec 31, 2023