WEC
WEC Energy Group, Inc.
Regulated Electric
Market Cap$36.74B
5Y Perf.+22.9%
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Stock Comparison
WEC vs NI
Revenue, margins, valuation, and 5-year total return — side by side.
NI
NiSource Inc.
Regulated Gas
Market Cap$22.54B
5Y Perf.+97.3%
WEC vs NI — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | WEC | NI |
|---|---|---|
| Industry | Regulated Electric | Regulated Gas |
| Market Cap | $36.74B | $22.54B |
| Revenue (TTM) | $10.08B | $6.82B |
| Net Income (TTM) | $1.64B | $962M |
| Gross Margin | 55.7% | 62.8% |
| Operating Margin | 24.0% | 27.8% |
| Forward P/E | 20.2x | 22.9x |
| Total Debt | $22.31B | $16.24B |
| Cash & Equiv. | $28M | $136M |
WEC vs NI — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
WEC
NI
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| WEC Energy Group, I… (WEC) | 100 | 122.9 | +22.9% |
| NiSource Inc. (NI) | 100 | 197.3 | +97.3% |
Price return only. Dividends and distributions are not included.
Quick Verdict: WEC vs NI
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: WEC leads in 4 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. NiSource Inc. is the stronger pick specifically for growth and revenue expansion and capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
WEC
WEC Energy Group, Inc.
The Income Pick
WEC carries the broadest edge in this set and is the clearest fit for income & stability and defensive.
- Dividend streak 23 yrs, beta -0.03, yield 3.1%
- Beta -0.03, yield 3.1%, current ratio 0.47x
- Lower P/E (20.2x vs 22.9x)
Best for: income & stability and defensive
NI
NiSource Inc.
The Growth Play
NI is the clearest fit if your priority is growth exposure and long-term compounding.
- Rev growth 21.8%, EPS growth 20.4%, 3Y rev CAGR 4.3%
- 137.6% 10Y total return vs WEC's 133.1%
- Lower volatility, beta 0.22, current ratio 0.69x
Best for: growth exposure and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | NI | 21.8% revenue growth vs WEC's 14.0% |
| Value | WEC | Lower P/E (20.2x vs 22.9x) |
| Quality / Margins | WEC | 16.2% margin vs NI's 14.1% |
| Stability / Safety | NI | Lower D/E ratio (139.3% vs 158.8%) |
| Dividends | WEC | 3.1% yield, 23-year raise streak, vs NI's 2.4% |
| Momentum (1Y) | NI | +19.0% vs WEC's +6.2% |
| Efficiency (ROA) | WEC | 3.3% ROA vs NI's 2.7%, ROIC 5.1% vs 5.3% |
WEC vs NI — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2023
WEC vs NI — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLNILAGGINGWEC
WECWEC Energy Group, Inc.
2leads
NINiSource Inc.
3leads
6 Total Categories
CATEGORYLEADERvs WECMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
WEC4/6
Valuation MetricsMultiples, price ratios, and targets
NI3/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
NI7/9
Total Returns1Y, 3Y, 5Y total returns with dividends
NI6/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
WEC2/2
Income & Cash Flow (Last 12 Months)
WEC leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
WEC and NI operate at a comparable scale, with $10.1B and $6.8B in trailing revenue. Profitability is closely matched — net margins range from 16.2% (WEC) to 14.1% (NI).
| Metric | WECWEC Energy Group,… | NINiSource Inc. |
|---|---|---|
| RevenueTrailing 12 months | $10.1B | $6.8B |
| EBITDAEarnings before interest/tax | $3.9B | $3.1B |
| Net IncomeAfter-tax profit | $1.6B | $962M |
| Free Cash FlowCash after capex | -$1.1B | -$1.0B |
| Gross MarginGross profit ÷ Revenue | +55.7% | +62.8% |
| Operating MarginEBIT ÷ Revenue | +24.0% | +27.8% |
| Net MarginNet income ÷ Revenue | +16.2% | +14.1% |
| FCF MarginFCF ÷ Revenue | -11.0% | -15.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +9.0% | +8.2% |
| EPS Growth (YoY)Latest quarter vs prior year | +7.9% | +6.0% |
WEC leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
NI leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
At 23.3x trailing earnings, WEC trades at a 3% valuation discount to NI's 24.1x P/E. On an enterprise value basis, NI's 12.9x EV/EBITDA is more attractive than WEC's 15.3x.
| Metric | WECWEC Energy Group,… | NINiSource Inc. |
|---|---|---|
| Market CapShares × price | $36.7B | $22.5B |
| Enterprise ValueMkt cap + debt − cash | $59.0B | $38.6B |
| Trailing P/EPrice ÷ TTM EPS | 23.35x | 24.11x |
| Forward P/EPrice ÷ next-FY EPS est. | 20.15x | 22.85x |
| PEG RatioP/E ÷ EPS growth rate | 4.70x | — |
| EV / EBITDAEnterprise value multiple | 15.32x | 12.87x |
| Price / SalesMarket cap ÷ Revenue | 3.75x | 3.39x |
| Price / BookPrice ÷ Book value/share | 2.63x | 1.91x |
| Price / FCFMarket cap ÷ FCF | — | — |
NI leads this category, winning 3 of 5 comparable metrics.
Profitability & Efficiency
NI leads this category, winning 7 of 9 comparable metrics.
Profitability & Efficiency
WEC delivers a 11.6% return on equity — every $100 of shareholder capital generates $12 in annual profit, vs $8 for NI. NI carries lower financial leverage with a 1.39x debt-to-equity ratio, signaling a more conservative balance sheet compared to WEC's 1.59x. On the Piotroski fundamental quality scale (0–9), NI scores 7/9 vs WEC's 5/9, reflecting strong financial health.
| Metric | WECWEC Energy Group,… | NINiSource Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +11.6% | +8.4% |
| ROA (TTM)Return on assets | +3.3% | +2.7% |
| ROICReturn on invested capital | +5.1% | +5.3% |
| ROCEReturn on capital employed | +5.4% | +6.0% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 7 |
| Debt / EquityFinancial leverage | 1.59x | 1.39x |
| Net DebtTotal debt minus cash | $22.3B | $16.1B |
| Cash & Equiv.Liquid assets | $28M | $136M |
| Total DebtShort + long-term debt | $22.3B | $16.2B |
| Interest CoverageEBIT ÷ Interest expense | 2.87x | 2.87x |
NI leads this category, winning 7 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
NI leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in NI five years ago would be worth $20,085 today (with dividends reinvested), compared to $13,182 for WEC. Over the past 12 months, NI leads with a +19.0% total return vs WEC's +6.2%. The 3-year compound annual growth rate (CAGR) favors NI at 20.9% vs WEC's 9.0% — a key indicator of consistent wealth creation.
| Metric | WECWEC Energy Group,… | NINiSource Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +6.8% | +13.0% |
| 1-Year ReturnPast 12 months | +6.2% | +19.0% |
| 3-Year ReturnCumulative with dividends | +29.4% | +76.8% |
| 5-Year ReturnCumulative with dividends | +31.8% | +100.8% |
| 10-Year ReturnCumulative with dividends | +133.1% | +137.6% |
| CAGR (3Y)Annualised 3-year return | +9.0% | +20.9% |
NI leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
Evenly matched — WEC and NI each lead in 1 of 2 comparable metrics.
Risk & Volatility
WEC is the less volatile stock with a -0.03 beta — it tends to amplify market swings less than NI's 0.22 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | WECWEC Energy Group,… | NINiSource Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | -0.03x | 0.22x |
| 52-Week HighHighest price in past year | $119.62 | $48.98 |
| 52-Week LowLowest price in past year | $100.61 | $37.22 |
| % of 52W HighCurrent price vs 52-week peak | +94.3% | +96.0% |
| RSI (14)Momentum oscillator 0–100 | 44.5 | 48.8 |
| Avg Volume (50D)Average daily shares traded | 1.8M | 3.9M |
Evenly matched — WEC and NI each lead in 1 of 2 comparable metrics.
Analyst Outlook
WEC leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Wall Street rates WEC as "Hold" and NI as "Buy". Consensus price targets imply 8.9% upside for WEC (target: $123) vs 5.9% for NI (target: $50). For income investors, WEC offers the higher dividend yield at 3.10% vs NI's 2.38%.
| Metric | WECWEC Energy Group,… | NINiSource Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $122.78 | $49.80 |
| # AnalystsCovering analysts | 34 | 22 |
| Dividend YieldAnnual dividend ÷ price | +3.1% | +2.4% |
| Dividend StreakConsecutive years of raises | 23 | 4 |
| Dividend / ShareAnnual DPS | $3.50 | $1.12 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.0% | 0.0% |
WEC leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
NI leads in 3 of 6 categories (Valuation Metrics, Profitability & Efficiency). WEC leads in 2 (Income & Cash Flow, Analyst Outlook). 1 tied.
Best OverallNiSource Inc. (NI)Leads 3 of 6 categories
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WEC vs NI: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is WEC or NI a better buy right now?
For growth investors, NiSource Inc.
(NI) is the stronger pick with 21. 8% revenue growth year-over-year, versus 14. 0% for WEC Energy Group, Inc. (WEC). WEC Energy Group, Inc. (WEC) offers the better valuation at 23. 3x trailing P/E (20. 2x forward), making it the more compelling value choice. Analysts rate NiSource Inc. (NI) a "Buy" — based on 22 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — WEC or NI?
On trailing P/E, WEC Energy Group, Inc.
(WEC) is the cheapest at 23. 3x versus NiSource Inc. at 24. 1x. On forward P/E, WEC Energy Group, Inc. is actually cheaper at 20. 2x.
03Which is the better long-term investment — WEC or NI?
Over the past 5 years, NiSource Inc.
(NI) delivered a total return of +100. 8%, compared to +31. 8% for WEC Energy Group, Inc. (WEC). Over 10 years, the gap is even starker: NI returned +137. 6% versus WEC's +133. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — WEC or NI?
By beta (market sensitivity over 5 years), WEC Energy Group, Inc.
(WEC) is the lower-risk stock at -0. 03β versus NiSource Inc. 's 0. 22β — meaning NI is approximately -884% more volatile than WEC relative to the S&P 500. On balance sheet safety, NiSource Inc. (NI) carries a lower debt/equity ratio of 139% versus 159% for WEC Energy Group, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — WEC or NI?
By revenue growth (latest reported year), NiSource Inc.
(NI) is pulling ahead at 21. 8% versus 14. 0% for WEC Energy Group, Inc. (WEC). On earnings-per-share growth, the picture is similar: NiSource Inc. grew EPS 20. 4% year-over-year, compared to 0. 0% for WEC Energy Group, Inc.. Over a 3-year CAGR, NI leads at 4. 3% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — WEC or NI?
WEC Energy Group, Inc.
(WEC) is the more profitable company, earning 15. 9% net margin versus 14. 0% for NiSource Inc. — meaning it keeps 15. 9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NI leads at 27. 6% versus 24. 2% for WEC. At the gross margin level — before operating expenses — NI leads at 58. 6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is WEC or NI more undervalued right now?
On forward earnings alone, WEC Energy Group, Inc.
(WEC) trades at 20. 2x forward P/E versus 22. 9x for NiSource Inc. — 2. 7x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for WEC: 8. 9% to $122. 78.
08Which pays a better dividend — WEC or NI?
All stocks in this comparison pay dividends.
WEC Energy Group, Inc. (WEC) offers the highest yield at 3. 1%, versus 2. 4% for NiSource Inc. (NI).
09Is WEC or NI better for a retirement portfolio?
For long-horizon retirement investors, WEC Energy Group, Inc.
(WEC) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0. 03), 3. 1% yield, +133. 1% 10Y return). Both have compounded well over 10 years (WEC: +133. 1%, NI: +137. 6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between WEC and NI?
Both stocks operate in the Utilities sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: WEC is a mid-cap income-oriented stock; NI is a mid-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(WEC: 9.0% · NI: 8.2%)Net Margin>
%
(WEC: 16.2% · NI: 14.1%)P/E Ratio<
x
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