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

78.34 0.75 +0.97%
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

MGE Energy Inc. (MGEE) Operating margin

Alert me on Operating margin

MGE Energy Inc.'s operating margin over the twelve months to 30 September 2026 was 22.5%, down 0.4 percentage points from fiscal 2025 (23.0%). Over the past ten years it has ranged from 19.3% (fiscal 2022) to 23.0% (fiscal 2025) — the current reading is the highest in ten years. That is in line with the Utilities Regulated Electric industry median of 21.7% and above the Utilities sector median of 18.7%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 23.0% 1.34
FY2024 21.6% 0.41
FY2023 21.2% 1.92
FY2022 19.3% (0.06)
FY2021 19.3% (1.08)
FY2020 20.4% 0.92
FY2019 19.5% (0.90)
FY2018 20.4% (1.73)
FY2017 22.1% (0.61)
FY2016 22.7% 0.71

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 30.5% 10.26
Jun 2026 20.3% (1.65)
Mar 2026 21.9% 4.76
Dec 2025 17.1% (11.93)
43 more quarters

Against its own ten years

Low 19.3% High 23.0%
Ten-year median 21.2%
Current reading's percentile 81

Operating margin against peers

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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