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Friday 6 November 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.

Revenue
+8.38%
EPS
+22.1%
Free cash flow
+122.2%
Total debt
+4.33%

Quarter to September 2026, against a year earlier

79.65 1.29 +1.65%
Market cap
$3.0B
P/E
18.1×
Fwd P/E
18.7×
Dividend yield
2.47%
F-score
6/9
Altman Z
1.69
Beneish M
−2.54
Dividend safety
52/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

MGE Energy Inc. (MGEE) Debt to equity

Alert me on Debt to equity

MGE Energy Inc.'s debt to equity at the end of the quarter to 30 September 2026 was 0.6×, down 0.1× from fiscal 2025 (0.7×). Over the past ten years it has ranged from 0.5× (fiscal 2016) to 0.7× (fiscal 2025) — the current reading is the highest in ten years. That is below the Utilities Regulated Electric industry median of 1.5× and below the Utilities sector median of 1.2×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 0.7× 11.44%
FY2024 0.6× (6.48%)
FY2023 0.7× (0.58%)
FY2022 0.7× 7.60%
FY2021 0.6× 2.64%
FY2020 0.6× (7.13%)
FY2019 0.7× 4.40%
FY2018 0.6× 14.52%
FY2017 0.5× 2.54%
FY2016 0.5× (5.60%)

Quarterly newest first

Period Debt to equity Change
Sep 2026 0.6× (8.63%)
Jun 2026 0.6× (7.00%)
Mar 2026 0.7× 0.11%
Dec 2025 0.7× 7.43%
43 more quarters

Against its own ten years

Low 0.5× High 0.7×
Ten-year median 0.6×
Current reading's percentile 100

Debt to equity against peers

Company Debt to equity
CEPU Central Puerto S.A. Sponsored ADR compare 0.3×
MGEE MGE Energy Inc. 0.6×
CIG Comp En De Mn Cemig ADS compare 0.7×
IDA IDACORP, Inc. compare 0.9×
OGE OGE Energy Corporation compare 1.1×
POR Portland General Electric Company compare 1.2×
NWE NorthWestern Corporation compare 1.2×
TXNM TXNM Energy, Inc. compare 1.6×
HE Hawaiian Electric Industries, Inc. compare 1.6×
Utilities Regulated Electric industry median 1.5×
Utilities sector median 1.2×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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