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MGE ENERGY INC MGEE

Nasdaq · stock · Electric, Gas & Sanitary Services · website · IPO 1980-03-17

MGE ENERGY INC statistics & valuation

Market cap$3.0B
P / E22.2×
P / B2.3×
Dividend yield2.24%
Return on equity10.4%
Net debt$786.5M
Enterprise value USD$3.8B
Earnings yield EBIT/EV4.5%
Return on capital6%
Graham number -32.8%$54.63

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($54.63); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
10.40% 12.50% 10.30% 10.20% 9.50% 10.30% 10.30% 10.30% 9.80% 10.40% 2016201720182019202020212022202320242025
Shares outstanding
34.7M 34.7M 34.7M 34.7M 36.2M 36.2M 36.2M 36.2M 36.5M 36.6M 2016201720182019202020212022202320242025
Net debt ($)
$286.8M $290.2M $410.2M $500.3M $474.6M $596.8M $573.6M $707.7M $742.4M $786.5M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
4.20% 5.30% 4.20% 4.20% 4.10% 4.50% 4.40% 4.40% 4.30% 4.30% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
0.53× 0.51× 0.60× 0.61× 0.53× 0.60× 0.54× 0.63× 0.62× 0.61× 2016201720182019202020212022202320242025
EPS ($)
$2.51 $2.60 $2.92 $3.07 $3.25 $3.33 $3.72 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

MGE ENERGY INC trades at about 21.9× earnings — below its 10-year norm (10-year range 19.8×–31.8×, median 24.5×).

19.8× 31.8×

Shaded band = 10-year range (19.8×–31.8×); dot = today's 21.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Return on assets4.3%4.3%4.4%4.4%4.5%4.1%4.2%4.2%5.3%4.2%
Return on equity10.4%9.8%10.3%10.3%10.3%9.5%10.2%10.3%12.5%10.4%
Debt / equity0.61×0.62×0.63×0.54×0.60×0.53×0.61×0.60×0.51×0.53×
Current ratio0.771.811.521.081.691.101.411.992.302.66

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.