A Business at a Glance
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MGE ENERGY INC
MGEE
$3.0B
Mkt Cap
$82.42
+0.02%
MGE ENERGY INC (MGEE) has a current P/E ratio of 22.2, compared to its historical median P/E of 22.8. The stock is currently considered Fair based on its historical valuation range.
MGE ENERGY INC (MGEE) has a 5-year average return on invested capital (ROIC) of 6.8%. This is below average and may indicate limited pricing power.
MGE ENERGY INC (MGEE) has a market capitalization of $3.0B. It is classified as a mid-cap stock.
Yes, MGE ENERGY INC (MGEE) pays a dividend with a trailing twelve-month yield of 2.26%.
Based on historical P/E analysis, MGE ENERGY INC (MGEE) appears fair. The current P/E of 22.2 is 3% below its historical median of 22.8. The estimated fair value CAGR (P/E method) is 5.9%.
MGE ENERGY INC (MGEE) operates in the Electric, Gas & Sanitary Services industry, within the Utilities sector.
MGE ENERGY INC (MGEE) generated $-80 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
MGE Energy operates in the following business segments: •Regulated electric utility operations – generating, purchasing, and distributing electricity through MGE. •Regulated gas utility operations – purchasing and distributing natural gas through MGE. •Nonregulated energy operations – owning and leasing electric generating capacity that assists MGE through MGE Energy's wholly owned subsidiaries MGE Power Elm Road and MGE Power West Campus. •Transmission investments – representing our investment in American Transmission Company LLC, a company engaged in the business of providing electric transmission services primarily in Wisconsin, and our investment in ATC Holdco LLC, a company created to facilitate out-of-state electric transmission development and investments. •All other – investing in companies and property that relate to the regulated operations and financing the regulated operations, through its wholly owned subsidiaries CWDC, MAGAEL, and North Mendota, and Corporate functions.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 767M | - | - | - | - | - |
| Net Income | 143M | 136M | 121M | 118M | 111M | 106M |
| EPS | $3.90 | $3.72 | $3.33 | $3.25 | $3.07 | $2.92 |
| Free Cash Flow | -131M | -80M | 41M | 15M | -21M | -16M |
| ROIC | 6.6% | 7.1% | 6.9% | 6.4% | 6.5% | 7.2% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.70 | 0.70 | 0.63 | 0.68 | 0.66 | 0.62 |
| Dividends/Share | $1.86 | $1.85 | $1.76 | $1.67 | $1.59 | $1.52 |
| Operating Income | 171M | 171M | 146M | 146M | 138M | 117M |
| Operating Margin | 22.3% | - | - | - | - | - |
| ROE | 10.6% | 10.7% | 10.2% | 10.6% | 10.5% | 10.6% |
| Shares Outstanding | 37M | 37M | 36M | 36M | 36M | 36M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 767M |
| Gross Margin | 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 |
| R&D | 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 |
| SG&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 |
| EBIT | 138M | 124M | 124M | 125M | 114M | 111M | 110M | 117M | 138M | 146M | 146M | 171M | 171M |
| Op. Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 22.3% |
| Net Income | 80M | 71M | 76M | 98M | 84M | 87M | 92M | 106M | 111M | 118M | 121M | 136M | 143M |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 18.6% |
| Non-Recurring | 21K | 0 | 0 | 1.5M | 0 | -406K | 379K | 1.5M | 1.4M | -899K | 239K | 3.3M | 3.3M |
| Returns on Capital | |||||||||||||
| ROIC | 8.8% | 7.9% | 7.9% | 9.6% | 7.4% | 6.9% | 6.3% | 7.2% | 6.5% | 6.4% | 6.9% | 7.1% | 6.6% |
| ROE | 12.6% | 10.6% | 10.7% | 13.0% | 10.6% | 10.4% | 10.1% | 10.6% | 10.5% | 10.6% | 10.2% | 10.7% | 10.6% |
| ROA | 4.9% | 4.2% | 4.3% | 5.3% | 4.4% | 4.3% | 4.3% | 4.6% | 4.5% | 4.5% | 4.4% | 4.5% | 4.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 129M | 141M | 148M | 131M | 153M | 130M | 172M | 138M | 154M | 238M | 278M | 263M | 266M |
| Free Cash Flow | 36M | 69M | 64M | 23M | -59M | -34M | -31M | -16M | -21M | 15M | 41M | -80M | -131M |
| Owner Earnings | 86M | 96M | 100M | 77M | 96M | 56M | 97M | 58M | 67M | 135M | 165M | 146M | 149M |
| CapEx | 93M | 72M | 84M | 108M | 212M | 164M | 203M | 153M | 175M | 222M | 237M | 343M | 397M |
| Maint. CapEx | 41M | 44M | 45M | 53M | 56M | 72M | 74M | 77M | 86M | 100M | 109M | 114M | 115M |
| Growth CapEx | 52M | 28M | 39M | 55M | 156M | 92M | 129M | 76M | 89M | 122M | 128M | 229M | 282M |
| D&A | 41M | 44M | 45M | 53M | 56M | 72M | 74M | 77M | 86M | 100M | 109M | 114M | 115M |
| CapEx/OCF | 72.0% | 51.0% | 56.7% | 82.3% | 138.7% | 125.7% | 117.8% | 111.4% | 113.9% | 93.5% | 85.3% | 130.4% | 149.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 38M | 40M | 42M | 44M | 46M | 48M | 52M | 55M | 58M | 60M | 64M | 68M | 69M |
| Dividend Yield | 3.6% | 3.5% | 2.7% | 2.4% | 2.6% | 2.2% | 2.4% | 2.3% | 2.3% | 2.4% | 2.2% | 2.2% | 2.3% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 2.0M | 1.0M | 3.1M | 1.0M | 1.1M | 3.0M | 1.3M | 2.9M | 1.3M | 2.7M | 4.5M | 3.3M | 2.1M |
| Debt Repayment | 4.1M | 4.2M | 4.3M | 34M | 24M | 4.6M | 39M | 4.8M | 4.9M | 54M | 5.1M | 5.3M | 5.3M |
| Balance Sheet | |||||||||||||
| Net Debt | 341M | 310M | 291M | 318M | 427M | 520M | 537M | 614M | 706M | 758M | 753M | 906M | 932M |
| Cash & Equiv. | 66M | 81M | 96M | 108M | 83M | 23M | 45M | 17M | 12M | 11M | 21M | 5.7M | 9.5M |
| Long-Term Debt | 395M | 387M | 383M | 398M | 493M | 524M | 519M | 614M | 585M | 719M | 764M | 792M | 880M |
| Debt/Equity | 0.62 | 0.57 | 0.53 | 0.55 | 0.63 | 0.64 | 0.60 | 0.62 | 0.66 | 0.68 | 0.63 | 0.70 | 0.70 |
| Interest Coverage | 7.0 | 6.2 | 6.2 | 6.4 | 5.8 | 4.8 | 4.7 | 4.9 | 5.2 | 4.8 | 4.4 | 5.0 | 5.0 |
| Equity | 659M | 690M | 724M | 778M | 817M | 856M | 976M | 1.0B | 1.1B | 1.1B | 1.2B | 1.3B | 1.3B |
| Total Assets | 1.7B | 1.7B | 1.8B | 1.9B | 2.0B | 2.1B | 2.3B | 2.4B | 2.5B | 2.7B | 2.8B | 3.2B | 3.2B |
| Total Liabilities | 449M | 470M | 527M | 358M | 367M | 373M | 385M | 394M | 419M | 442M | 449M | 460M | -2.3M |
| Intangibles | 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 |
| Retained Earnings | 308M | 339M | 373M | 427M | 466M | 505M | 545M | 596M | 650M | 707M | 764M | 832M | 832M |
| Working Capital | 160M | 171M | 172M | 164M | 120M | 53M | 19M | 82M | 18M | 81M | 102M | -68M | 28M |
| Current Assets | 250M | 255M | 276M | 291M | 241M | 182M | 210M | 199M | 243M | 238M | 227M | 229M | 211M |
| Current Liabilities | 90M | 84M | 104M | 127M | 121M | 129M | 191M | 118M | 225M | 157M | 126M | 297M | 183M |
| Per Share Data | |||||||||||||
| EPS | 2.32 | 2.06 | 2.18 | 2.82 | 2.43 | 2.51 | 2.60 | 2.92 | 3.07 | 3.25 | 3.33 | 3.72 | 3.90 |
| Owner EPS | 2.49 | 2.77 | 2.89 | 2.23 | 2.76 | 1.62 | 2.73 | 1.59 | 1.85 | 3.71 | 4.55 | 3.99 | 4.06 |
| Book Value | 19.05 | 19.94 | 20.89 | 22.48 | 23.56 | 24.72 | 27.46 | 28.37 | 29.93 | 31.48 | 33.98 | 35.70 | 36.72 |
| Cash Flow/Share | 3.72 | 4.08 | 4.27 | 3.80 | 4.42 | 3.77 | 4.85 | 3.80 | 4.25 | 6.56 | 7.67 | 7.21 | 7.01 |
| Dividends/Share | 1.11 | 1.16 | 1.21 | 1.26 | 1.32 | 1.38 | 1.45 | 1.52 | 1.59 | 1.67 | 1.76 | 1.85 | 1.86 |
| Shares Out. | 34.6M | 34.6M | 34.7M | 34.6M | 34.7M | 34.6M | 35.5M | 36.2M | 36.1M | 36.2M | 36.2M | 36.5M | 36.8M |
| Valuation | |||||||||||||
| P/E Ratio | 15.8 | 18.2 | 24.4 | 19.0 | 21.0 | 27.6 | 24.1 | 24.8 | 21.6 | 21.2 | 27.8 | 20.9 | 21.1 |
| P/FCF | 35.2 | 18.8 | 28.7 | 79.8 | N/A | N/A | N/A | N/A | N/A | 161.3 | 82.0 | N/A | N/A |
| EV/EBIT | 11.2 | 12.3 | 15.9 | 16.6 | 18.5 | 26.1 | 24.7 | 27.4 | 22.4 | 22.1 | 27.9 | 21.9 | 23.2 |
| Price/Book | 1.9 | 1.9 | 2.5 | 2.4 | 2.2 | 2.8 | 2.3 | 2.6 | 2.2 | 2.2 | 2.7 | 2.2 | 2.2 |
| Price/Sales | 1.7 | 2.0 | 2.8 | 3.3 | 3.2 | 3.7 | 4.0 | 4.0 | 3.5 | 3.7 | 4.3 | 4.2 | 3.9 |
| FCF Yield | 2.8% | 5.3% | 3.5% | 1.3% | -3.3% | -1.4% | -1.4% | -0.6% | -0.9% | 0.6% | 1.2% | -2.8% | -4.3% |
| Market Cap | 1.3B | 1.3B | 1.8B | 1.9B | 1.8B | 2.4B | 2.2B | 2.6B | 2.4B | 2.5B | 3.4B | 2.8B | 3.0B |
| Avg. Price | 30.57 | 33.12 | 44.06 | 53.62 | 51.72 | 61.47 | 60.38 | 66.86 | 69.73 | 69.90 | 79.59 | 85.67 | 82.42 |
| Year-End Price | 36.66 | 37.58 | 53.20 | 53.61 | 51.15 | 69.22 | 62.61 | 72.36 | 66.27 | 68.99 | 92.56 | 77.90 | 82.42 |
MGE ENERGY INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
MGE ENERGY INC trades at 22.2x trailing earnings, compared to its 15-year median P/E of 22.8x, suggesting it is currently Fair relative to its historical range. The company's 5-year average ROIC is 6.8%. Total shareholder yield (dividends) is 2.3%. At current prices, the estimated annualized return to fair value is +4.4%.
MGE ENERGY INC (MGEE) has a debt-to-equity ratio of 0.70. This indicates moderate leverage.
MGE ENERGY INC (MGEE) reported earnings per share (EPS) of $3.72 in its most recent fiscal year.
MGE ENERGY INC (MGEE) has a return on equity (ROE) of 10.7%. This indicates moderate shareholder returns.
The Ledger Terminal provides 16 years of financial data for MGE ENERGY INC (MGEE), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
MGE ENERGY INC (MGEE) has a book value per share of $35.70, based on its most recent annual SEC filing.