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

MGE Energy Inc (MGEE) reported diluted earnings per share of $3.72 for fiscal year 2025. This represents a 11.7% 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.

MGE Energy (MGEE) Financials

MGEE NASDAQ

FY2025 annual

Revenue $743.7M +9.9% YoY

Net Income $135.9M +12.7% YoY

EPS (Diluted) $3.72 +11.7% YoY

Free Cash Flow -$80.0M -295.8% YoY

Market Cap $2.8B as of Oct 29, 2026

Price / Sales 3.7x on $743.7M revenue, FY2025

Price / Earnings 18.6x on $149.6M net income, trailing 12 months to June 30, 2026

Price / Book 1.9x on $1.4B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 29, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 5, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MGEE SEC filings page.

MGE Energy Inc (MGEE) reported $743.7M in revenue for fiscal year 2025, up 9.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI MGEE FY2025 2026-10-24

MGE Energy is growing earnings, but heavier capital investment is absorbing operating cash and tightening short-term balance-sheet flexibility.

The key operating shift is cash conversion after reinvestment: FY2025 operating cash flow was $263M against capital expenditures of $343M. That gap pushed free cash flow to -$80.0M, versus $40.9M in FY2024, so accounting growth did not translate into spendable cash after investment.

Before capital spending, earnings converted into cash: operating cash flow equaled 193.7% of net income, while net income reached $135.9M. But positive financing cash flow of $71.6M alongside negative free cash flow indicates the investment program was not funded solely by internally generated surplus.

The balance sheet is becoming more obligation-heavy: total liabilities reached $1.9B against $1.3B of equity, showing expansion financed more heavily through obligations than owners’ capital. Short-term coverage weakened, as the current ratio fell to 0.8x from 1.8x in FY2024.

Financial Health Signals

Financial Health Score 65/100

Scored as: Utilities peer group

Scored against utilities for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of MGE Energy Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

MGE Energy Inc has an operating margin of 22.9%, meaning the company retains $23 of operating profit per $100 of revenue. This strong profitability earns a score of 70/100, reflecting efficient cost management and pricing power. This is up from 21.6% the prior year.

Growth

MGE Energy Inc's revenue grew 9.9% year-over-year to $743.7M, a solid pace of expansion. This earns a growth score of 46/100.

Leverage

MGE Energy Inc carries a low D/E ratio of 0.61, meaning only $0.61 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 86/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

MGE Energy Inc's current ratio of 0.77 indicates adequate short-term liquidity, earning a score of 45/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While MGE Energy Inc generated $263.2M in operating cash flow, capex of $343.2M consumed most of it, leaving -$80.0M in free cash flow. This results in a low score of 65/100, reflecting heavy capital investment rather than weak cash generation.

Returns

MGE Energy Inc earns a strong 10.4% return on equity (ROE), meaning it generates $10 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 79/100. This is up from 9.8% the prior year.

Altman Z-Score Distress

1.66

MGE Energy Inc scores 1.66, below the 1.81 distress threshold. The score is pulled down most by current liabilities exceeding current assets by $68.2M against total assets of $3.2B. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

5/8

MGE Energy Inc passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) does not pass.

Earnings Quality Cash-Backed

1.94x

For every $1 of reported earnings, MGE Energy Inc generates $1.94 in operating cash flow ($263.2M OCF vs $135.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

Export CSV

Earnings & Revenue

Net Income

$33.4M

YoY+25.9%

QoQ-31.2%

5Y CAGR+7.9%

10Y CAGR+7.5%

MGE Energy Inc reported $33.4M in net income in Q2 2026. This represents an increase of 25.9% from the same quarter a year earlier. Against the prior quarter it is down 31.2%.

EPS (Diluted)

$0.89

YoY+23.6%

QoQ-32.6%

5Y CAGR+7.2%

10Y CAGR+6.6%

MGE Energy Inc earned $0.89 per diluted share (EPS) in Q2 2026. This represents an increase of 23.6% from the same quarter a year earlier. Against the prior quarter it is down 32.6%.

Revenue

Not reported for Q2 2026.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

-$41.6M

YoYn/m

QoQn/m

5Y CAGRn/m

MGE Energy Inc recorded an outflow of $41.6M in free cash flow in Q2 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Cash & Debt

$16.6M

YoY+57.3%

QoQ+75.5%

5Y CAGR-13.3%

10Y CAGR-17.2%

MGE Energy Inc held $16.6M in cash against $879.1M in long-term debt as of Q2 2026.

Dividends Per Share

$0.47

YoY+5.6%

QoQ0.0%

5Y CAGR+5.1%

10Y CAGR+4.9%

MGE Energy Inc paid $0.47 per share in dividends in Q2 2026. This represents an increase of 5.6% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

38M

YoY+3.4%

QoQ+2.8%

5Y CAGR+0.9%

10Y CAGR+0.9%

MGE Energy Inc had 38M shares outstanding in Q2 2026. This represents an increase of 3.4% from the same quarter a year earlier. Against the prior quarter it is up 2.8%.

Margins & Returns

Return on Equity

2.3%

YoY+0.2pp

QoQ-1.3pp

5Y change0.0pp

10Y change0.0pp

MGE Energy Inc's quarterly ROE was 2.3% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is up 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.3 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Net Margin

Not reported for Q2 2026.

Capital Allocation

Capital Expenditures

$109.8M

YoY+71.2%

QoQ+8.5%

5Y CAGR+21.8%

10Y CAGR+15.9%

MGE Energy Inc invested $109.8M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 71.2% from the same quarter a year earlier. Against the prior quarter it is up 8.5%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

MGEE Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MGEE quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	N/A	$743.7M+9.9%	$676.9M-2.0%	$690.4M-3.4%	$714.5M+17.8%	$606.6M+12.6%	$538.6M-5.3%	$568.9M+1.6%	$559.8M-0.6%	$563.1M+3.4%	$544.7M-3.4%	$564.0M-9.0%	$619.9M+4.9%	$590.9M+9.2%	$541.3M-0.9%	$546.4M
Operating Income	$169.4M	$170.7M+16.7%	$146.3M-0.1%	$146.4M+6.3%	$137.7M+17.4%	$117.3M+6.6%	$110.0M-0.8%	$110.9M-2.9%	$114.2M-8.4%	$124.6M+0.6%	$123.9M-0.3%	$124.3M-10.0%	$138.1M+7.9%	$128.0M+13.5%	$112.8M+4.5%	$107.9M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$19.5M-3.4%	$20.2M
Income Tax	$21.6M	$20.8M+96.0%	$10.6M-61.9%	$27.8M+6.0%	$26.2M+537.3%	$4.1M-78.8%	$19.4M-1.8%	$19.8M-27.9%	$27.4M+24.2%	$22.1M-48.0%	$42.5M+2.8%	$41.4M-14.2%	$48.2M+7.4%	$44.9M+15.3%	$38.9M+8.1%	$36.0M
Net Income	$149.6M	$135.9M+12.7%	$120.6M+2.4%	$117.7M+6.1%	$111.0M+4.9%	$105.8M+14.4%	$92.4M+6.4%	$86.9M+3.2%	$84.2M-13.7%	$97.6M+29.2%	$75.6M+5.9%	$71.3M-11.2%	$80.3M+7.2%	$74.9M+16.2%	$64.4M+5.8%	$60.9M
EPS (Basic)	N/A	$3.72+11.7%	$3.33+2.5%	$3.25+5.9%	$3.07+5.1%	$2.92+12.3%	$2.60+3.6%	$2.51+3.3%	$2.43-13.8%	$2.82+29.4%	$2.18+5.8%	$2.06-11.2%	$2.32+7.4%	$2.16-22.6%	$2.79+5.7%	$2.64
EPS (Diluted)	$4.07	$3.72+11.7%	$3.33+2.5%	$3.25+5.9%	$3.07+5.1%	$2.92+12.3%	$2.60+3.6%	$2.51+3.3%	$2.43-13.8%	$2.82+29.4%	$2.18+5.8%	$2.06-11.2%	$2.32+7.4%	$2.16+16.1%	$1.86+5.7%	$1.76
Diluted Shares (Avg)	N/A	37M+0.9%	36M+0.1%	36M0.0%	36M0.0%	36M+1.6%	36M+2.7%	35M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	N/A	$242.7M+10.8%	$189.6M+10.6%	$175.7M+4.3%	$159.5M+9.4%	$219.0M+14.4%	$171.4M+4.1%	$168.5M+5.0%
Operating Income	$32.6M-4.6%	$53.2M+0.5%	$32.5M+17.5%	$51.1M+6.1%	$34.2M+15.1%	$52.9M+29.7%	$27.6M+14.4%	$48.1M+9.9%
Income Tax	$4.3M+43.8%	$5.9M-7.0%	$3.7M+38.7%	$7.8M+113.7%	$3.0M+102.1%	$6.3M+124.2%	$2.7M-49.2%	$3.6M-58.7%
Net Income	$33.4M+25.9%	$48.5M+16.6%	$23.3M+5.8%	$44.5M+8.7%	$26.5M+11.4%	$41.6M+23.0%	$22.0M+9.7%	$40.9M+8.1%
EPS (Basic)	$0.89+21.9%	$1.32+15.8%	$0.64+4.9%	$1.22+8.0%	$0.73+10.6%	$1.14+22.6%	$0.61+10.9%	$1.13+7.6%
EPS (Diluted)	$0.89+23.6%	$1.32+15.8%	$0.64+4.9%	$1.22+8.0%	$0.72+9.1%	$1.14+22.6%	$0.61+10.9%	$1.13+7.6%
Diluted Shares (Avg)	37M+2.4%	37M+0.2%	N/A	37M+1.0%	37M+1.0%	37M+1.0%	N/A	36M+0.1%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, EBITDA, Interest Expense.

MGEE Balance Sheet

MGEE quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$3.2B+11.6%	$2.8B+5.7%	$2.7B+6.3%	$2.5B+6.1%	$2.4B+5.2%	$2.3B+8.3%	$2.1B+4.7%	$2.0B+7.2%	$1.9B+3.0%	$1.8B+4.3%	$1.7B+2.2%	$1.7B+7.0%	$1.6B-0.5%	$1.6B+8.8%	$1.5B
Current Assets	$228.5M+0.6%	$227.3M-4.6%	$238.2M-2.2%	$243.5M+22.1%	$199.4M-4.8%	$209.5M+15.3%	$181.6M-24.5%	$240.6M-17.2%	$290.6M+5.5%	$275.5M+8.2%	$254.8M+1.7%	$250.5M+13.5%	$220.6M-1.0%	$222.9M+17.9%	$189.1M
Cash & Equivalents	$5.7M-73.4%	$21.3M+91.2%	$11.1M-4.0%	$11.6M-33.5%	$17.4M-61.0%	$44.7M+90.5%	$23.5M-71.7%	$83.1M-23.0%	$108.0M+12.5%	$96.0M+17.9%	$81.4M+23.8%	$65.8M-4.4%	$68.8M+48.4%	$46.4M+12.6%	$41.2M
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Accounts Receivable	$57.6M+12.2%	$51.3M+9.7%	$46.7M-15.7%	$55.4M+19.9%	$46.2M+11.6%	$41.4M+2.2%	$40.5M-7.1%	$43.6M+3.1%	$42.3M+6.0%	$39.9M+7.5%	$37.1M-10.8%	$41.6M-7.3%	$44.9M+8.5%	$41.4M+12.6%	$36.7M
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Total Liabilities	$1.9B+15.9%	$1.6B+4.1%	$1.5B+6.9%	$1.4B+6.8%	$1.3B+5.2%	$1.3B+4.2%	$1.2B+4.6%	$1.2B+8.8%	$1.1B0.0%	$1.1B+4.0%	$1.0B+0.6%	$1.0B+7.1%	$961.5M-4.6%	$1.0B+11.0%	$907.9M
Current Liabilities	$296.7M+136.3%	$125.6M-20.1%	$157.2M-30.2%	$225.1M+91.0%	$117.8M-38.3%	$190.9M+48.2%	$128.8M+6.8%	$120.6M-4.7%	$126.5M+22.2%	$103.5M+23.0%	$84.1M-6.5%	$90.0M-6.9%	$96.7M+27.5%	$75.8M+20.2%	$63.1M
Non-Current Liabilities	$762.6M+7.6%	$708.6M+7.5%	$659.4M+5.4%	$625.6M+2.2%	$612.4M+7.9%	$567.4M-1.0%	$573.4M+2.8%	$558.0M+1.0%	$552.3M-6.5%	$590.7M+4.5%	$565.1M+2.8%	$549.5M+18.1%	$465.5M-18.8%	$573.2M+18.4%	$484.0M
Long-Term Debt	$792.2M+3.7%	$763.7M+6.2%	$718.8M+22.8%	$585.2M-4.7%	$614.2M+18.3%	$519.3M-0.8%	$523.7M+6.2%	$493.3M+23.9%	$398.2M+4.0%	$382.8M-1.0%	$386.7M-2.2%	$395.3M-1.0%	$399.4M+11.4%	$358.5M-0.7%	$360.9M
Total Equity	$1.3B+6.0%	$1.2B+7.9%	$1.1B+5.4%	$1.1B+5.3%	$1.0B+5.3%	$976.0M+14.1%	$855.7M+4.8%	$816.6M+4.9%	$778.2M+7.5%	$724.1M+4.9%	$690.5M+4.7%	$659.4M+6.8%	$617.5M+6.6%	$579.4M+5.2%	$551.0M
Retained Earnings	$832.4M+8.9%	$764.1M+8.1%	$707.2M+8.8%	$649.9M+9.0%	$596.4M+9.3%	$545.4M+8.1%	$504.7M+8.4%	$465.7M+9.1%	$426.9M+14.5%	$372.9M+10.0%	$339.2M+10.1%	$308.0M+15.7%	$266.2M+16.5%	$228.4M+8.0%	$211.5M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$3.3B+15.4%	$3.2B+12.1%	$3.2B+11.6%	$3.0B+8.8%	$2.9B+5.0%	$2.8B+6.3%	$2.8B+5.7%	$2.7B+6.1%
Current Assets	$210.9M+6.4%	$211.1M-5.0%	$228.5M+0.6%	$195.0M-7.3%	$198.3M-10.8%	$222.3M+0.3%	$227.3M-4.6%	$210.3M-2.8%
Cash & Equivalents	$16.6M+57.3%	$9.5M-73.2%	$5.7M-73.4%	$10.1M-31.8%	$10.6M-35.0%	$35.3M+111.6%	$21.3M+91.2%	$14.9M+32.0%
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Accounts Receivable	$42.3M-2.3%	$59.0M+11.2%	$57.6M+12.2%	$41.5M-7.0%	$43.3M+0.8%	$53.1M+17.1%	$51.3M+9.7%	$44.6M+1.8%
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Total Liabilities	$1.9B+16.9%	$1.8B+16.0%	$1.9B+15.9%	$1.7B+8.9%	$1.6B+2.2%	$1.6B+4.4%	$1.6B+4.1%	$1.6B+6.8%
Current Liabilities	$185.6M+68.9%	$183.2M+70.4%	$296.7M+136.3%	$215.1M+43.8%	$109.8M-34.7%	$107.5M-23.0%	$125.6M-20.1%	$149.6M+21.8%
Non-Current Liabilities	$795.0M+10.5%	$772.8M+8.5%	$762.6M+7.6%	$732.9M+6.3%	$719.5M+7.0%	$712.5M+8.3%	$708.6M+7.5%	$689.2M+7.3%
Long-Term Debt	$879.1M+15.5%	$880.3M+15.5%	$792.2M+3.7%	$745.0M+4.2%	$761.3M+6.3%	$762.5M+6.2%	$763.7M+6.2%	$715.3M+3.7%
Total Equity	$1.4B+13.4%	$1.3B+7.2%	$1.3B+6.0%	$1.3B+8.6%	$1.3B+8.8%	$1.3B+8.6%	$1.2B+7.9%	$1.2B+5.3%
Retained Earnings	N/A	N/A	$832.4M+8.9%	N/A	N/A	N/A	$764.1M+8.1%	N/A

Not reported in any period shown, so not listed: Inventory, Goodwill.

MGEE Cash Flow Statement

MGEE quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$278.1M	$263.2M-5.2%	$277.8M+16.9%	$237.6M+54.5%	$153.7M+11.8%	$137.5M-20.2%	$172.4M+32.2%	$130.5M-14.7%	$153.0M+16.5%	$131.4M-11.2%	$147.9M+4.7%	$141.2M+9.6%	$128.8M-8.2%	$140.3M-3.9%	$146.0M+11.6%	$130.8M
Stock-Based Compensation	N/A	$3.3M-26.7%	$4.5M+66.7%	$2.7M+107.7%	$1.3M-55.2%	$2.9M+123.1%	$1.3M-56.7%	$3.0M+172.7%	$1.1M+10.0%	$1.0M-67.7%	$3.1M+210.0%	$1.0M-50.0%	$2.0M+33.3%	$1.5M+7.1%	$1.4M0.0%	$1.4M
Capital Expenditures	$442.4M	$343.2M+44.9%	$236.9M+6.7%	$222.1M+26.9%	$175.0M+14.3%	$153.2M-24.6%	$203.1M+23.8%	$164.0M-22.7%	$212.2M+96.2%	$108.1M+29.3%	$83.7M+16.1%	$72.0M-22.3%	$92.7M-22.2%	$119.0M+20.9%	$98.4M+51.0%	$65.2M
Free Cash Flow	-$164.3M	-$80.0M-295.8%	$40.9M+163.8%	$15.5Mn/m	-$21.3Mn/m	-$15.6Mn/m	-$30.7Mn/m	-$33.6Mn/m	-$59.2M-354.5%	$23.2M-63.8%	$64.2M-7.2%	$69.2M+91.6%	$36.1M+70.1%	$21.2M-55.4%	$47.6M-27.5%	$65.6M
Investing Cash Flow	-$448.6M	-$350.6Mn/m	-$241.5Mn/m	-$230.0Mn/m	-$180.1Mn/m	-$157.0Mn/m	-$210.4Mn/m	-$172.4Mn/m	-$218.3Mn/m	-$116.3Mn/m	-$86.8Mn/m	-$73.3Mn/m	-$96.2Mn/m	-$121.9Mn/m	-$101.4Mn/m	-$66.4M
Financing Cash Flow	$177.1M	$71.6Mn/m	-$26.8Mn/m	-$10.5M-141.0%	$25.5Mn/m	-$8.8M-114.8%	$59.2Mn/m	-$17.2M-145.2%	$38.1Mn/m	-$4.6Mn/m	-$46.1Mn/m	-$52.2Mn/m	-$35.7M-967.5%	$4.1Mn/m	-$39.5Mn/m	-$30.4M
Dividends Paid	$70.0M	$67.6M+6.3%	$63.6M+5.3%	$60.4M+5.0%	$57.5M+4.9%	$54.8M+5.9%	$51.7M+8.1%	$47.8M+4.5%	$45.8M+4.8%	$43.7M+4.6%	$41.8M+4.3%	$40.0M+4.2%	$38.4M+3.6%	$37.1M+3.2%	$36.0M+2.6%	$35.0M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$68.1M+21.5%	$80.7M+3.6%	$34.5M-49.3%	$94.8M+19.4%	$56.1M-13.2%	$77.9M+18.3%	$67.9M+56.1%	$79.4M+18.4%
Stock-Based Compensation	$1.6M+220.0%	$1.1M-8.3%	N/A	$800K-33.3%	$500K-28.6%	$1.2M0.0%	N/A	$1.2M+1100.0%
Capital Expenditures	$109.8M+71.2%	$101.1M+112.2%	$87.6M+20.2%	$143.9M+174.3%	$64.1M-4.1%	$47.7M+6.4%	$72.9M+1.5%	$52.4M+23.1%
Free Cash Flow	-$41.6Mn/m	-$20.4M-167.7%	-$53.1Mn/m	-$49.1M-281.9%	-$8.0Mn/m	$30.2M+43.6%	-$4.9Mn/m	$27.0M+10.3%
Investing Cash Flow	-$110.9Mn/m	-$105.5Mn/m	-$88.7Mn/m	-$143.6Mn/m	-$67.7Mn/m	-$50.6Mn/m	-$73.9Mn/m	-$54.1Mn/m
Financing Cash Flow	$49.9Mn/m	$28.5Mn/m	$49.0M+307.4%	$49.7Mn/m	-$12.0M-737.8%	-$15.1Mn/m	$12.0M-58.3%	-$26.4Mn/m
Dividends Paid	$17.9M+9.0%	$17.4M+5.7%	$17.4M+5.9%	$17.4M+6.6%	$16.4M+6.3%	$16.4M+6.3%	$16.4M+6.0%	$16.3M+5.3%

Not reported in any period shown, so not listed: Depreciation & Amortization, Share Buybacks.

MGEE Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MGEE quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	22.9%+1.3pp	21.6%+0.4pp	21.2%+1.9pp	19.3%-0.1pp	19.3%-1.1pp	20.4%+0.9pp	19.5%-0.9pp	20.4%-1.7pp	22.1%-0.6pp	22.7%+0.7pp	22.0%-0.3pp	22.3%+0.6pp	21.7%+0.8pp	20.8%+1.1pp	19.7%
Net Margin	18.3%+0.5pp	17.8%+0.8pp	17.1%+1.5pp	15.5%-1.9pp	17.4%+0.3pp	17.2%+1.9pp	15.3%+0.2pp	15.0%-2.3pp	17.3%+3.5pp	13.9%+1.2pp	12.7%-0.3pp	13.0%+0.3pp	12.7%+0.8pp	11.9%+0.8pp	11.2%
Return on Equity	10.4%+0.6pp	9.8%-0.5pp	10.3%+0.1pp	10.3%0.0pp	10.3%+0.8pp	9.5%-0.7pp	10.2%-0.2pp	10.3%-2.2pp	12.5%+2.1pp	10.4%+0.1pp	10.3%-1.9pp	12.2%+0.1pp	12.1%+1.0pp	11.1%+0.1pp	11.1%
Return on Assets	4.3%+0.1pp	4.3%-0.1pp	4.4%0.0pp	4.4%-0.1pp	4.5%+0.4pp	4.1%-0.1pp	4.2%-0.1pp	4.2%-1.0pp	5.3%+1.1pp	4.2%+0.1pp	4.1%-0.6pp	4.8%0.0pp	4.7%+0.7pp	4.1%-0.1pp	4.2%
Current Ratio	0.77-1.0x	1.81+0.3x	1.52+0.4x	1.08-0.6x	1.69+0.6x	1.10-0.3x	1.41-0.6x	1.99-0.3x	2.30-0.4x	2.66-0.4x	3.03+0.2x	2.78+0.5x	2.28-0.7x	2.94-0.1x	3.00
Debt-to-Equity	0.610.0x	0.620.0x	0.63+0.1x	0.54-0.1x	0.60+0.1x	0.53-0.1x	0.610.0x	0.60+0.1x	0.510.0x	0.530.0x	0.560.0x	0.600.0x	0.650.0x	0.620.0x	0.66
Liabilities-to-Equity	1.42+0.1x	1.300.0x	1.350.0x	1.330.0x	1.310.0x	1.31-0.1x	1.430.0x	1.44+0.1x	1.38-0.1x	1.490.0x	1.50-0.1x	1.560.0x	1.56-0.2x	1.74+0.1x	1.65
Asset Turnover	0.240.0x	0.240.0x	0.260.0x	0.280.0x	0.260.0x	0.240.0x	0.270.0x	0.280.0x	0.300.0x	0.300.0x	0.330.0x	0.370.0x	0.370.0x	0.340.0x	0.37
FCF Margin	-10.8%-16.8pp	6.0%+3.8pp	2.2%+5.2pp	-3.0%-0.4pp	-2.6%+3.1pp	-5.7%+0.2pp	-5.9%+4.7pp	-10.6%-14.7pp	4.1%-7.7pp	11.8%-0.5pp	12.3%+6.4pp	5.8%+2.2pp	3.6%-5.2pp	8.8%-3.2pp	12.0%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	N/A	21.9%-2.2pp	17.1%+1.0pp	29.1%+0.5pp	21.5%+1.1pp	24.1%+2.8pp	16.1%+1.4pp	28.6%+1.3pp
Net Margin	N/A	20.0%+1.0pp	12.3%-0.6pp	25.3%+1.0pp	16.6%+0.3pp	19.0%+1.3pp	12.8%+0.7pp	24.3%+0.7pp
Return on Equity	2.3%+0.2pp	3.6%+0.3pp	1.8%0.0pp	3.4%0.0pp	2.1%0.0pp	3.3%+0.4pp	1.8%0.0pp	3.4%+0.1pp
Return on Assets	1.0%+0.1pp	1.5%+0.1pp	0.7%0.0pp	1.5%0.0pp	0.9%+0.1pp	1.5%+0.2pp	0.8%0.0pp	1.5%0.0pp
Current Ratio	1.14-0.7x	1.15-0.9x	0.77-1.0x	0.91-0.5x	1.80+0.5x	2.07+0.5x	1.81+0.3x	1.41-0.4x
Debt-to-Equity	0.610.0x	0.650.0x	0.610.0x	0.570.0x	0.600.0x	0.610.0x	0.620.0x	0.600.0x
Liabilities-to-Equity	1.290.0x	1.36+0.1x	1.42+0.1x	1.300.0x	1.25-0.1x	1.26-0.1x	1.300.0x	1.300.0x
Asset Turnover	N/A	0.080.0x	0.060.0x	0.060.0x	0.060.0x	0.080.0x	0.060.0x	0.060.0x
FCF Margin	N/A	-8.4%-22.2pp	-28.0%-25.2pp	-27.9%-43.9pp	-5.0%-3.5pp	13.8%+2.8pp	-2.9%+14.3pp	16.0%+0.8pp

Not reported in any period shown, so not listed: Gross Margin.

Note: The current ratio is below 1.0 (0.77), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
MGE Energy Inc MGEE	FY2025	$743.7M	$135.9M	18.3%	$2.8B	65/100
NorthWestern Energy Group, Inc. NWE	FY2025	$1.6B	$181.1M	11.2%	$4.9B	51/100
Hawaiian Electric Industries, Inc. HE	FY2025	$3.1B	$126.3M	4.1%	$1.5B	44/100
Enel Chile S.A. ENIC	FY2025	$4.5B	$584.9M	13.0%	$5.9B	62/100
Portland General Electric Company POR	FY2025	$3.6B	$306.0M	8.6%	$5.2B	61/100
IDACORP, Inc. IDA	FY2025	$1.8B	$323.5M	17.8%	$8.3B	41/100

Where MGE Energy Inc Ranks

Frequently Asked Questions

What is MGE Energy Inc's annual revenue?

MGE Energy Inc (MGEE) reported $743.7M in total revenue for fiscal year 2025. This represents a 9.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is MGE Energy Inc's revenue growing?

MGE Energy Inc (MGEE) revenue grew by 9.9% year-over-year, from $676.9M to $743.7M in fiscal year 2025.

Is MGE Energy Inc profitable?

Yes, MGE Energy Inc (MGEE) reported a net income of $135.9M in fiscal year 2025, with a net profit margin of 18.3%.

How much debt does MGE Energy Inc have?

As of fiscal year 2025, MGE Energy Inc (MGEE) had $5.7M in cash and equivalents against $792.2M in long-term debt.

What is MGE Energy Inc's operating margin?

MGE Energy Inc (MGEE) had an operating margin of 22.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is MGE Energy Inc's net profit margin?

MGE Energy Inc (MGEE) had a net profit margin of 18.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does MGE Energy Inc pay dividends?

Yes, MGE Energy Inc (MGEE) paid $1.85 per share in dividends during fiscal year 2025.

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

MGE Energy Inc (MGEE) has a return on equity of 10.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is MGE Energy Inc's free cash flow?

MGE Energy Inc (MGEE) recorded an outflow of $80.0M in free cash flow during fiscal year 2025. This represents a -295.8% 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 $263.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are MGE Energy Inc's total assets?

MGE Energy Inc (MGEE) had $3.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are MGE Energy Inc's capital expenditures?

MGE Energy Inc (MGEE) invested $343.2M in capital expenditures during fiscal year 2025, 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 2025.

What is MGE Energy Inc's current ratio?

MGE Energy Inc (MGEE) had a current ratio of 0.77 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

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

MGE Energy Inc (MGEE) had a debt-to-equity ratio of 0.61 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

What is MGE Energy Inc's liabilities-to-equity ratio?

MGE Energy Inc (MGEE) had a liabilities-to-equity ratio of 1.42 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-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 2025, measuring how efficiently the company uses its assets to generate profit.

What is MGE Energy Inc's P/E ratio?

MGE Energy Inc (MGEE) trades at 18.6x earnings, its market capitalization divided by $149.6M net income, trailing 12 months to June 30, 2026. The market capitalization is $2.8B as of Oct 29, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is MGE Energy Inc's price-to-sales ratio?

MGE Energy Inc (MGEE) trades at 3.7x sales, its market capitalization divided by $743.7M revenue, FY2025. The market capitalization is $2.8B as of Oct 29, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is MGE Energy Inc's Altman Z-Score?

MGE Energy Inc (MGEE) has an Altman Z-Score of 1.66, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

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

MGE Energy Inc (MGEE) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 1.94x, 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.

How financially healthy is MGE Energy Inc?

MGE Energy Inc (MGEE) scores 65 out of 100 on our Financial Health Score, indicating strong standing within its utilities peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.