Saturday 17 October 2026
Export MGEE’s income statement to Excel — free account
MGE Energy Inc.
MGEE Utilities Utilities Regulated Electric
MGE Energy Inc.’s revenue for fiscal 2025 (year ended December 2025) was $743.7 million, up 9.85% from fiscal 2024. In the quarter to June 2026, revenue grew 1.09%, EPS grew 21.9%, free cash flow fell 419.8% and total debt rose 21.0%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.
72.27
0.99
+1.39%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
29.36 | 22.13 | 24.67 | 31.53 | 26.93 | 28.07 | 23.10 | 22.39 | 28.22 | 21.02 |
Piotroski F-Score |
7 | 6 | 4 | 5 | 5 | 6 | 6 | 6 | 5 | 6 |
P/S ratio |
4.07 | 3.84 | 3.71 | 4.80 | 4.63 | 4.90 | 3.58 | 3.81 | 5.03 | 3.85 |
Altman Z-Score |
2.20 | 2.17 | 1.94 | 2.16 | 1.92 | 2.14 | 1.90 | 1.87 | 2.11 | 1.69 |
Altman Z″-Score (non-manufacturers) |
2.47 | 2.54 | 2.28 | 2.05 | 1.97 | 2.18 | 2.05 | 2.21 | 2.27 | 1.82 |
P/FCF ratio |
34.56 | 83.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 169.91 | 83.27 | 0.00 |
Beneish M-Score |
(2.61) | (2.58) | (2.70) | (2.66) | (2.66) | (2.24) | (2.46) | (2.84) | (2.81) | (2.54) |
P/Operating CF |
118.83 | 61.41 | 142.30 | 145.56 | 68.45 | (788.97) | 270.39 | 60.47 | 50.07 | 83.13 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 52 |
P/B ratio |
3.06 | 2.78 | 2.55 | 3.19 | 2.56 | 2.89 | 2.36 | 2.31 | 2.77 | 2.20 |
Price to Tangible BV |
3.06 | 2.78 | 2.55 | 3.19 | 2.56 | 2.89 | 2.36 | 2.31 | 2.77 | 2.20 |
EV/Sales |
4.61 | 4.41 | 4.48 | 5.75 | 5.65 | 5.93 | 4.58 | 4.90 | 6.13 | 5.07 |
EV/EBITDA |
14.89 | 13.97 | 14.70 | 17.92 | 16.52 | 18.52 | 14.65 | 13.71 | 16.28 | 13.22 |
EV/Operating CF |
16.97 | 18.89 | 16.39 | 25.06 | 17.65 | 26.17 | 21.28 | 14.24 | 14.94 | 14.31 |
EV/FCF |
39.09 | 95.24 | (42.40) | (97.43) | (99.14) | (230.08) | (153.63) | 218.38 | 101.57 | (47.10) |
Quick Ratio |
1.39 | 1.26 | 1.10 | 0.56 | 0.49 | 0.68 | 0.35 | 0.47 | 0.66 | 0.26 |
Current Ratio |
2.66 | 2.30 | 1.99 | 1.41 | 1.10 | 1.69 | 1.08 | 1.52 | 1.81 | 0.77 |
Net Debt/EBITDA |
1.73 | 1.79 | 2.52 | 2.94 | 2.98 | 3.21 | 3.20 | 3.04 | 2.93 | 3.17 |
Debt/Assets |
21.49% | 23.00% | 25.78% | 26.94% | 26.36% | 27.06% | 28.88% | 28.48% | 27.19% | 28.79% |
Debt/Equity |
0.53 | 0.55 | 0.63 | 0.66 | 0.61 | 0.62 | 0.67 | 0.67 | 0.63 | 0.70 |
Asset Turnover |
0.31 | 0.31 | 0.29 | 0.28 | 0.25 | 0.26 | 0.29 | 0.27 | 0.25 | 0.25 |
Operating CF/Net income |
1.96 | 1.35 | 1.82 | 1.50 | 1.87 | 1.30 | 1.39 | 2.02 | 2.30 | 1.94 |
Capex/Depreciation |
(1.87) | (1.98) | (3.76) | (2.29) | (2.74) | (1.99) | (2.05) | (2.21) | (2.18) | (3.00) |
Interest Coverage |
6.24 | 6.45 | 5.82 | 4.81 | 4.68 | 4.86 | 5.17 | 4.81 | 4.44 | 5.05 |
| 10.68% | 12.99% | 10.56% | 10.39% | 10.09% | 10.56% | 10.52% | 10.60% | 10.17% | 10.72% | |
| 4.28% | 5.34% | 4.38% | 4.27% | 4.26% | 4.57% | 4.54% | 4.53% | 4.38% | 4.54% | |
ROIC |
7.63% | 7.10% | 5.73% | 4.98% | 4.51% | 4.44% | 4.79% | 4.84% | 4.62% | 4.83% |
Return on Tangible Assets |
5.20% | 6.48% | 5.17% | 5.12% | 5.17% | 5.40% | 5.58% | 5.33% | 5.05% | 5.43% |
Average Days of Receivables |
32.44 | 33.54 | 32.51 | 31.07 | 32.99 | 37.49 | 34.14 | 32.96 | 33.08 | 34.62 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
35.32% | 34.99% | 35.23% | 37.48% | 38.28% | 36.04% | 32.26% | 34.50% | 37.31% | 35.07% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Graham Net Nets |
(0.36) | (0.36) | (0.45) | (0.38) | (0.43) | (0.38) | (0.47) | (0.49) | (0.40) | (0.57) |
Graham Number |
32.01 | 37.74 | 35.89 | 37.26 | 40.04 | 43.28 | 45.38 | 48.01 | 50.45 | 54.73 |
Earnings Yield |
3.41% | 4.52% | 4.05% | 3.17% | 3.71% | 3.56% | 4.33% | 4.47% | 3.54% | 4.76% |
Free Cash Flow Yield |
2.89% | 1.20% | (2.85%) | (1.23%) | (1.23%) | (0.53%) | (0.83%) | 0.59% | 1.20% | (2.79%) |
Revenue per Share |
15.71 | 16.24 | 16.15 | 16.41 | 15.13 | 16.77 | 19.76 | 19.09 | 18.69 | 20.36 |
Operating CF per Share |
4.27 | 3.79 | 4.41 | 3.76 | 4.84 | 3.80 | 4.25 | 6.57 | 7.67 | 7.21 |
Capex per Share |
(2.41) | (3.04) | (6.12) | (4.73) | (5.70) | (4.24) | (4.84) | (6.14) | (6.54) | (9.39) |
Free Cash Flow per Share |
1.85 | 0.75 | (1.71) | (0.97) | (0.86) | (0.43) | (0.59) | 0.43 | 1.13 | (2.19) |
Cash per Share |
2.77 | 3.11 | 2.40 | 0.68 | 1.26 | 0.48 | 0.32 | 0.31 | 0.59 | 0.16 |
Shareholders Equity per Share |
20.89 | 22.45 | 23.56 | 24.68 | 27.41 | 28.41 | 29.91 | 31.53 | 33.97 | 35.69 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
20.89 | 22.45 | 23.56 | 24.68 | 27.41 | 28.41 | 29.91 | 31.53 | 33.97 | 35.69 |
Free Cash Flow |
64.21 | 26.06 | (59.16) | (33.56) | (30.70) | (15.64) | (21.29) | 15.49 | 40.86 | (79.99) |
Working Capital |
172.01 | 164.12 | 119.93 | 52.82 | 18.59 | 81.52 | 18.42 | 81.04 | 101.70 | (68.16) |
Capital Expenditures |
(83.66) | (105.31) | (212.20) | (164.04) | (203.14) | (153.17) | (175.03) | (222.07) | (236.92) | (343.22) |
Net Current Asset Value |
(801.46) | (786.36) | (931.41) | (1,044.35) | (1,068.13) | (1,145.07) | (1,192.45) | (1,297.19) | (1,370.56) | (1,622.94) |
EV/EBIT |
20.26 | 19.92 | 21.96 | 29.48 | 27.67 | 30.68 | 23.75 | 23.11 | 28.37 | 22.08 |
Capex to Sales |
0.15 | 0.19 | 0.38 | 0.29 | 0.38 | 0.25 | 0.25 | 0.32 | 0.35 | 0.46 |
Price to Operating Income |
17.91 | 17.36 | 18.20 | 24.64 | 22.67 | 25.36 | 18.56 | 17.98 | 23.26 | 16.79 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.03 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.04 |
Cash ROIC |
5.32% | 1.99% | (4.19%) | (2.33%) | (1.90%) | (0.93%) | (1.17%) | 0.81% | 2.02% | (3.61%) |
Accounts Receivable Turnover |
11.71 | 11.24 | 11.02 | 11.58 | 11.09 | 10.93 | 11.07 | 10.69 | 10.95 | 11.28 |
Accounts Payable Turnover |
4.15 | 3.95 | 4.09 | 3.42 | 2.70 | 3.26 | 4.22 | 3.29 | 2.37 | 2.03 |
Inventory Turnover |
4.11 | 4.44 | 4.47 | 3.97 | 3.20 | 3.90 | 4.13 | 2.80 | 2.42 | 3.00 |
Average Days of Payables |
94.91 | 92.32 | 87.79 | 116.24 | 134.52 | 120.87 | 83.07 | 116.25 | 166.78 | 217.06 |
Days of Inventory on Hand |
81.68 | 84.86 | 79.87 | 95.43 | 116.36 | 97.90 | 103.98 | 129.04 | 145.63 | 118.38 |
Average Receivables |
46.50 | 50.08 | 50.80 | 49.14 | 48.55 | 55.49 | 64.56 | 64.59 | 61.85 | 65.94 |
Average Payables |
44.31 | 47.72 | 46.90 | 50.66 | 54.90 | 59.40 | 61.74 | 62.39 | 71.46 | 97.57 |
Average Inventory |
44.77 | 42.47 | 42.89 | 43.64 | 46.27 | 49.61 | 63.12 | 73.46 | 70.15 | 65.91 |
Average Assets |
1,763.73 | 1,828.12 | 1,921.90 | 2,035.14 | 2,167.66 | 2,312.78 | 2,444.75 | 2,596.53 | 2,751.71 | 2,991.69 |
Average Common Equity |
707.27 | 751.14 | 797.42 | 836.16 | 915.84 | 1,001.73 | 1,054.57 | 1,110.87 | 1,185.11 | 1,267.04 |
Columns are period end dates