Mge Energy Inc Financials

MGEE

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Mge Energy Inc (MGEE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Neutral

4/9

Mge Energy Inc passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Cash-Backed

2.30x

For every $1 of reported earnings, Mge Energy Inc generates $2.30 in operating cash flow ($277.8M OCF vs $120.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

4.4x

Mge Energy Inc earns $4.4 in operating income for every $1 of interest expense ($146.3M vs $32.9M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Revenue

N/A

EBITDA

N/A

Free Cash Flow

$40.9M

YoY+163.8%

10Y CAGR+1.2%

Mge Energy Inc generated $40.9M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 163.8% from the prior year.

Net Income

$120.6M

YoY+2.4%

5Y CAGR+6.8%

10Y CAGR+4.1%

Mge Energy Inc reported $120.6M in net income in fiscal year 2024. This represents an increase of 2.4% from the prior year.

EPS (Diluted)

$3.33

YoY+2.5%

5Y CAGR+5.8%

Mge Energy Inc earned $3.33 per diluted share (EPS) in fiscal year 2024. This represents an increase of 2.5% from the prior year.

Cash & Debt

$21.3M

YoY+91.2%

5Y CAGR-1.9%

10Y CAGR-10.7%

Mge Energy Inc held $21.3M in cash against $763.7M in long-term debt as of fiscal year 2024.

Dividends Per Share

$1.76

YoY+5.4%

5Y CAGR+5.0%

10Y CAGR+4.7%

Mge Energy Inc paid $1.76 per share in dividends in fiscal year 2024. This represents an increase of 5.4% from the prior year.

Shares Outstanding

37M

YoY+0.9%

5Y CAGR+1.0%

10Y CAGR+0.5%

Mge Energy Inc had 37M shares outstanding in fiscal year 2024. This represents an increase of 0.9% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

9.8%

YoY-0.5pp

5Y CAGR-0.4pp

10Y CAGR-2.4pp

Mge Energy Inc's ROE was 9.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 0.5 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$236.9M

YoY+6.7%

5Y CAGR+7.6%

10Y CAGR+9.8%

Mge Energy Inc invested $236.9M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 6.7% from the prior year.

MGEE Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	$146.3M-0.1%	$146.4M+6.3%	$137.7M+17.4%	$117.3M+6.6%	$110.0M-0.8%	$110.9M
Interest Expense	-$32.9M-8.2%	-$30.4M-14.2%	-$26.6M-10.5%	-$24.1M-2.5%	-$23.5M-2.0%	-$23.1M
Income Tax	$10.6M-61.9%	$27.8M+6.0%	$26.2M+537.3%	$4.1M-78.8%	$19.4M-1.8%	$19.8M
Net Income	$120.6M+2.4%	$117.7M+6.1%	$111.0M+4.9%	$105.8M+14.4%	$92.4M+6.4%	$86.9M
EPS (Diluted)	$3.33+2.5%	$3.25+5.9%	$3.07+5.1%	$2.92+12.3%	$2.60+3.6%	$2.51

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	$51.1M+49.2%	$34.2M-35.3%	$52.9M+9.8%	$48.1M+61.9%	$29.7M-27.0%	$40.7M	N/A	$43.8M
Interest Expense	-$8.7M-2.6%	-$8.5M-11.6%	-$7.6M+9.7%	-$8.4M-0.9%	-$8.3M-4.0%	-$8.0M	N/A	-$7.7M
Income Tax	$7.8M+161.8%	$3.0M-52.7%	$6.3M+72.8%	$3.6M+147.6%	$1.5M-47.6%	$2.8M	N/A	$8.8M
Net Income	$44.5M+67.9%	$26.5M-36.3%	$41.6M+1.6%	$40.9M+72.1%	$23.8M-29.6%	$33.8M	N/A	$37.9M
EPS (Diluted)	$1.22+69.4%	$0.72-36.8%	$1.14+0.9%	$1.13+71.2%	$0.66-29.0%	$0.93	N/A	$1.05

MGEE Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$2.8B+5.7%	$2.7B+6.3%	$2.5B+6.1%	$2.4B+5.2%	$2.3B+8.3%	$2.1B
Current Assets	$227.3M-4.6%	$238.2M-2.2%	$243.5M+22.1%	$199.4M-4.8%	$209.5M+15.3%	$181.6M
Cash & Equivalents	$21.3M+91.2%	$11.1M-4.0%	$11.6M-33.5%	$17.4M-61.0%	$44.7M+90.5%	$23.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$51.3M+9.7%	$46.7M-15.7%	$55.4M+19.9%	$46.2M+11.6%	$41.4M+2.2%	$40.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.6B+4.1%	$1.5B+6.9%	$1.4B+6.8%	$1.3B+5.2%	$1.3B+4.2%	$1.2B
Current Liabilities	$125.6M-20.1%	$157.2M-30.2%	$225.1M+91.0%	$117.8M-38.3%	$190.9M+48.2%	$128.8M
Long-Term Debt	$763.7M+6.2%	$718.8M+22.8%	$585.2M-4.7%	$614.2M+18.3%	$519.3M-0.8%	$523.7M
Total Equity	$1.2B+7.9%	$1.1B+5.4%	$1.1B+5.3%	$1.0B+5.3%	$976.0M+14.1%	$855.7M
Retained Earnings	$764.1M+8.1%	$707.2M+8.8%	$649.9M+9.0%	$596.4M+9.3%	$545.4M+8.1%	$504.7M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$3.0B+4.6%	$2.9B+0.7%	$2.8B+0.5%	$2.8B+3.8%	$2.7B+1.9%	$2.7B-0.1%	$2.7B+3.3%	$2.6B
Current Assets	$195.0M-1.6%	$198.3M-10.8%	$222.3M-2.2%	$227.3M+2.3%	$222.2M+0.2%	$221.7M-6.9%	$238.2M+10.1%	$216.4M
Cash & Equivalents	$10.1M-4.0%	$10.6M-70.1%	$35.3M+65.7%	$21.3M+30.9%	$16.3M-2.5%	$16.7M+49.8%	$11.1M-1.1%	$11.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$41.5M-4.2%	$43.3M-18.4%	$53.1M+3.5%	$51.3M+19.4%	$43.0M-5.2%	$45.3M-3.0%	$46.7M+6.7%	$43.8M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.7B+6.4%	$1.6B+0.5%	$1.6B-1.0%	$1.6B+2.6%	$1.6B+2.8%	$1.5B-1.3%	$1.5B+5.5%	$1.5B
Current Liabilities	$215.1M+95.8%	$109.8M+2.2%	$107.5M-14.4%	$125.6M-25.3%	$168.1M+20.4%	$139.7M-11.1%	$157.2M+27.9%	$122.8M
Long-Term Debt	$745.0M-2.1%	$761.3M-0.2%	$762.5M-0.2%	$763.7M+6.6%	$716.5M-0.2%	$717.6M-0.2%	$718.8M+4.2%	$690.0M
Total Equity	$1.3B+2.2%	$1.3B+0.9%	$1.3B+2.3%	$1.2B+5.4%	$1.2B+0.8%	$1.2B+1.6%	$1.1B+0.4%	$1.1B
Retained Earnings	N/A	N/A	N/A	$764.1M	N/A	N/A	$707.2M	N/A

MGEE Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$277.8M+16.9%	$237.6M+54.5%	$153.7M+11.8%	$137.5M-20.2%	$172.4M+32.2%	$130.5M
Capital Expenditures	$236.9M+6.7%	$222.1M+26.9%	$175.0M+14.3%	$153.2M-24.6%	$203.1M+23.8%	$164.0M
Free Cash Flow	$40.9M+163.8%	$15.5M+172.7%	-$21.3M-36.1%	-$15.6M+49.0%	-$30.7M+8.5%	-$33.6M
Investing Cash Flow	-$241.5M-5.0%	-$230.0M-27.7%	-$180.1M-14.8%	-$157.0M+25.4%	-$210.4M-22.1%	-$172.4M
Financing Cash Flow	-$26.8M-155.9%	-$10.5M-141.0%	$25.5M+391.7%	-$8.8M-114.8%	$59.2M+443.5%	-$17.2M
Dividends Paid	$63.6M+5.3%	$60.4M+5.0%	$57.5M+4.9%	$54.8M+5.9%	$51.7M+8.1%	$47.8M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$94.8M+69.0%	$56.1M-28.0%	$77.9M+14.6%	$67.9M+5.2%	$64.6M-1.8%	$65.8M+51.2%	$43.5M-35.1%	$67.0M
Capital Expenditures	$143.9M+124.4%	$64.1M+34.5%	$47.7M-34.6%	$72.9M+9.0%	$66.9M+49.3%	$44.8M-37.6%	$71.8M+68.5%	$42.6M
Free Cash Flow	-$49.1M-512.5%	-$8.0M-126.5%	$30.2M+714.9%	-$4.9M-120.1%	-$2.2M-110.6%	$21.0M+174.5%	-$28.3M-215.5%	$24.4M
Investing Cash Flow	-$143.6M-112.2%	-$67.7M-33.7%	-$50.6M+31.5%	-$73.9M-10.1%	-$67.1M-44.5%	-$46.4M+36.9%	-$73.5M-64.4%	-$44.7M
Financing Cash Flow	$49.7M+515.5%	-$12.0M+20.9%	-$15.1M-225.7%	$12.0M+541.3%	$1.9M+113.1%	-$14.3M-149.6%	$28.8M+205.3%	-$27.4M
Dividends Paid	$17.4M+5.6%	$16.4M+0.1%	$16.4M+0.3%	$16.4M+5.9%	$15.5M+0.1%	$15.5M0.0%	$15.5M0.0%	$15.5M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

MGEE Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	9.8%-0.5pp	10.3%+0.1pp	10.3%-0.0pp	10.3%+0.8pp	9.5%-0.7pp	10.2%
Return on Assets	4.3%-0.1pp	4.4%-0.0pp	4.4%-0.1pp	4.5%+0.4pp	4.1%-0.1pp	4.2%
Current Ratio	1.81+0.3	1.52+0.4	1.08-0.6	1.69+0.6	1.10-0.3	1.41
Debt-to-Equity	0.620.0	0.63+0.1	0.54-0.1	0.60+0.1	0.53-0.1	0.61
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	3.4%+1.3pp	2.1%-1.2pp	3.3%-0.1pp	3.4%+1.4pp	2.0%-0.9pp	2.9%	N/A	3.3%
Return on Assets	1.5%+0.6pp	0.9%-0.5pp	1.5%-0.0pp	1.5%+0.6pp	0.9%-0.4pp	1.3%	N/A	1.5%
Current Ratio	0.91-0.9	1.80-0.3	2.07+0.3	1.81+0.5	1.32-0.3	1.59+0.1	1.52-0.2	1.76
Debt-to-Equity	0.57-0.0	0.600.0	0.61-0.0	0.620.0	0.610.0	0.62-0.0	0.63+0.0	0.61
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Mge Energy Inc profitable?

Yes, Mge Energy Inc (MGEE) reported a net income of $120.6M in fiscal year 2024.

What is Mge Energy Inc's earnings per share (EPS)?

Mge Energy Inc (MGEE) reported diluted earnings per share of $3.33 for fiscal year 2024. This represents a 2.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Mge Energy Inc have?

As of fiscal year 2024, Mge Energy Inc (MGEE) had $21.3M in cash and equivalents against $763.7M in long-term debt.

Does Mge Energy Inc pay dividends?

Yes, Mge Energy Inc (MGEE) paid $1.76 per share in dividends during fiscal year 2024.

What is Mge Energy Inc's return on equity (ROE)?

Mge Energy Inc (MGEE) has a return on equity of 9.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Mge Energy Inc's free cash flow?

Mge Energy Inc (MGEE) generated $40.9M in free cash flow during fiscal year 2024. This represents a 163.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Mge Energy Inc's operating cash flow?

Mge Energy Inc (MGEE) generated $277.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Mge Energy Inc's total assets?

Mge Energy Inc (MGEE) had $2.8B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Mge Energy Inc's capital expenditures?

Mge Energy Inc (MGEE) invested $236.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Mge Energy Inc have outstanding?

Mge Energy Inc (MGEE) had 37M shares outstanding as of fiscal year 2024.

What is Mge Energy Inc's current ratio?

Mge Energy Inc (MGEE) had a current ratio of 1.81 as of fiscal year 2024, which is generally considered healthy.

What is Mge Energy Inc's debt-to-equity ratio?

Mge Energy Inc (MGEE) had a debt-to-equity ratio of 0.62 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Mge Energy Inc's return on assets (ROA)?

Mge Energy Inc (MGEE) had a return on assets of 4.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Mge Energy Inc's Piotroski F-Score?

Mge Energy Inc (MGEE) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Mge Energy Inc's earnings high quality?

Mge Energy Inc (MGEE) has an earnings quality ratio of 2.30x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Mge Energy Inc cover its interest payments?

Mge Energy Inc (MGEE) has an interest coverage ratio of 4.4x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.