| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | 1 | — | — | 1 | — | — | — | — | 1 | 1 |
| Sell | — | — | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡ |
|
| 2027 | ‡‡‡‡ |
|
| 2026 | 1.96 |
—
—
—
|
| 2025 | 1.85 |
—
—
—
—
|
| 2024 | 1.76 |
—
—
—
—
|
| 2023 | 1.67 |
—
—
—
—
|
| 2022 | 1.59 |
—
—
—
—
|
| 2021 | 1.52 |
—
—
—
—
|
| 2020 | 1.45 |
—
—
—
—
|
| 2019 | 1.38 |
—
—
—
—
|
| 2018 | 1.32 |
—
—
—
—
|
| 2017 | 1.26 |
—
—
—
—
|
| 2016 | 1.21 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 11.14 | 21.30 | 5.67 | 16.62 |
| Receivables | 62.35 | 61.34 | 70.54 | 56.75 |
| Inventory | 72.65 | 67.65 | 64.18 | 64.98 |
| Other | 69.75 | 58.58 | 68.85 | 53.42 |
| 238.20 | 227.27 | 228.55 | 210.90 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 65.45 | 77.47 | 117.67 | 66.84 |
| ST’ Debt | 43.15 | 5.29 | 116.16 | 55.26 |
| Other | 23.30 | 15.38 | 35.36 | 35.60 |
| 157.16 | 125.56 | 296.71 | 185.56 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 242.70 | 161.20 | — | — |
—
|
| ’25 | 218.97 | 159.45 | 175.68 | 189.55 |
743.65
|
| ’24 | 191.34 | 145.71 | 168.48 | 171.42 |
676.94
|
| ’23 | 217.25 | 148.00 | 160.53 | 164.65 |
690.43
|
| ’22 | 208.94 | 152.35 | 163.40 | 189.83 |
714.52
|
| ’21 | 167.92 | 130.73 | 145.87 | 162.07 |
606.58
|
| ’20 | 149.87 | 117.04 | 135.21 | 136.51 |
538.63
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 80.69 | 68.14 | — | — |
—
|
| ’25 | 77.86 | 56.09 | 94.82 | 34.46 |
263.23
|
| ’24 | 65.82 | 64.62 | 79.40 | 67.95 |
277.78
|
| ’23 | 56.00 | 70.99 | 67.05 | 43.52 |
237.56
|
| ’22 | 62.10 | 49.18 | 33.01 | 9.45 |
153.74
|
| ’21 | 43.88 | 34.65 | 62.76 | (3.77) |
137.53
|
| ’20 | 53.82 | 31.63 | 50.56 | 36.43 |
172.44
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (20.45) | (41.63) | — | — |
—
|
| ’25 | 30.21 | (8.01) | (49.05) | (53.13) |
(79.99)
|
| ’24 | 21.04 | (2.23) | 26.96 | (4.91) |
40.86
|
| ’23 | 8.45 | 10.84 | 24.45 | (28.25) |
15.49
|
| ’22 | 31.32 | 14.00 | (34.44) | (32.17) |
(21.29)
|
| ’21 | 9.14 | (6.27) | 24.29 | (42.80) |
(15.64)
|
| ’20 | 7.06 | (6.83) | (3.28) | (27.65) |
(30.70)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 1.32 | 0.89 | — | — |
—
|
| ’25 | 1.14 | 0.72 | 1.22 | 0.64 |
3.72
|
| ’24 | 0.93 | 0.66 | 1.13 | 0.61 |
3.33
|
| ’23 | 0.86 | 0.79 | 1.05 | 0.55 |
3.25
|
| ’22 | 0.95 | 0.60 | 0.93 | 0.58 |
3.07
|
| ’21 | 0.97 | 0.63 | 0.97 | 0.36 |
2.92
|
| ’20 | 0.75 | 0.53 | 0.88 | 0.44 |
2.60
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | 61.67 | 65.10 | 61.94 | 77.46 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 86.27 | 83.27 | 109.22 | 96.25 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 701 | 719 | 717 | 726 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.02 | 0.96 | 0.94 | 1.02 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 714.52 | 690.43 | 676.94 | 743.65 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 63.51% | 70.24% | 74.96% | 73.39% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 137.18 | 145.50 | 131.17 | 156.65 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 19.20% | 21.07% | 19.38% | 21.07% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 110.95 | 117.70 | 120.57 | 135.89 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 85.55 | 100.35 | 108.58 | 114.32 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 19.76 | 19.09 | 18.69 | 20.36 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | 3.07 | 3.25 | 3.33 | 3.72 | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.25 | 6.57 | 7.67 | 7.21 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (4.84) | (6.14) | (6.54) | (9.39) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.59) | 0.43 | 1.13 | (2.19) | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 29.91 | 31.53 | 33.97 | 35.69 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 36.16 | 36.16 | 36.21 | 36.53 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 23.10 | 22.39 | 28.22 | 21.02 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.58 | 3.81 | 5.03 | 3.85 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.36 | 2.31 | 2.77 | 2.20 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 4.58 | 4.90 | 6.13 | 5.07 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (153.63) | 218.38 | 101.57 | (47.10) | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 153.74 | 237.56 | 277.78 | 263.23 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (175.03) | (222.07) | (236.92) | (343.22) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (21.29) | 15.49 | 40.86 | (79.99) | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 18.42 | 81.04 | 101.70 | (68.16) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 727.17 | 761.97 | 768.98 | 908.37 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 715.56 | 750.83 | 747.68 | 902.70 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,081.67 | 1,140.07 | 1,230.14 | 1,303.94 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.54% | 4.53% | 4.38% | 4.54% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.79% | 4.84% | 4.62% | 4.83% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10.52% | 10.60% | 10.17% | 10.72% | — | — | — |
ROE
|
MGE Energy Inc. (MGEE), the holding company for Madison Gas and Electric, exemplifies regulated utility stability with revenues rising 31% from $545 million in 2016 to a 2022 peak of $715 million, before moderating to $677 million in 2024, while net income surged 59% to $121 million. EPS climbed 53% to $3.33, gross margins expanded to 75%, and ROE held steady at 10-13%, outpacing peers amid efficient cost management and infrastructure upgrades. Despite capex ballooning 183% to $237 million, operating cash flow doubled to $278 million, flipping free cash flow positive at $41 million in 2024.
Stock performance mirrored fundamentals, with highs up 63% to $109, trading at a premium 28x PE justified by growth, while insider activity shines bullish—no sales, only $125,000+ in director buys across 2025. Valuation metrics like EV/Sales at 6.13x and manageable net debt (60-70% of equity) underscore quality, positioning MGEE as a defensive outperformer with lean operations and dividend aristocrat appeal.
Analysts project 4-5% revenue CAGR to $770 million by 2027, EPS up 24% to $4.13, fueled by clean energy investments, IRA incentives, and electrification trends, though capex and rates pose risks. Trading at a 14% premium to consensus targets amid tight dispersion, MGEE signals durable income and modest gains for investors in a decarbonizing world.
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