WEC Energy Group Inc (WEC)

Return on assets (ROA)

		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
Total assets	US$ in thousands	43,939,700	41,872,100	38,988,500	37,028,100	34,951,800
ROA		3.03%	3.37%	3.34%	3.24%	3.25%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $1,332,900K ÷ $43,939,700K
= 3.03%

Based on the data provided, the return on assets (ROA) of WEC Energy Group Inc has shown some fluctuations over the past five years. The ROA decreased from 3.24% in 2019 to 3.03% in 2020, before slightly increasing to 3.34% in 2021. However, in 2022, the ROA experienced a slight decline to 3.36%, and then decreased again to 3.03% in 2023.

Overall, WEC Energy Group Inc's ROA has generally been relatively stable around the 3.0% to 3.4% range in the past five years. This indicates that the company has been generating positive returns in relation to its total assets, with 3 cents to 3.4 cents of profit generated for each dollar of assets owned. Further analysis and comparison with industry peers would provide more insights into the company's efficiency in generating profits from its assets.