MARKETS / NASDAQ / MGEE
NASDAQ · ELECTRIC, GAS & SANITARY SERVICES · LARGE CAP

MGE Energy, Inc. MGEE

18 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY14 YEARS OF DIVIDEND GROWTH
Revenue · FY2025
$743.7M
▲ 9.9% vs FY2024
Dividend streak
14 yrs
Raised every year since 2012
EPS · FY25
$3.72
Dividend / sh · FY25
$1.85
Payout · FY25
50%
ROE · FY25
10.7%
Net margin · FY25
18.7%
Dividend coverage
2.0×
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Result
USD 743.7M
Revenue, FY2025 · full 18-year series below
Revenue Net income
0.20.40.60.80.70.12008201120142017202020232025
0.20.40.60.80.70.12016201920222025

19 cents of every revenue dollar became profit this year.

Per share
USD 3.72
Diluted EPS, FY2025
EPS Dividend
241.853.722008201120142017202020232025
241.853.722016201920222025

Earnings covered the dividend 2.0 times — the rest stayed in the company.

Profitability
10.7%
Return on equity, FY2025
ROE
48121610.7%2008201120142017202020232025
48121610.7%2016201920222025
Operating margin23.5%
Net margin18.7%
Return on assets4.5%

Each USD of equity produced 11 cents of profit this year.

Returned to shareholders
USD 67.6M
returned in FY2025 · dividends + net buybacks
Dividends paidUSD 67.6M
Net buybacks
Share of profit49.7%
Consecutive raises14 years

USD 67.6M in dividends — 50% of the year's profit went back to shareholders.

Growth
+6.7% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+1.3%
+6.7%
+2.8%
+2.3%
Net income
+7.0%
+8.0%
+6.7%
+5.9%
EPS, diluted
+6.6%
+7.4%
+6.1%
Dividend / share
+5.2%
+5.0%
+4.8%
+1.5%
Returned to shareholders
+5.5%
+5.5%
+5.4%
+4.6%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
0.04B
Shares outstanding, FY2025
0.030.042008201120142017202020232025
0.030.042016201920222025
Change, 5 years+1.0%
Change, 10 years+5.4%

The share count grew 1% in five years — the same company, cut into more, smaller slices.

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Balance sheet
USD 3.2B
total assets, end of FY2025
Total assetsUSD 3.2B
EquityUSD 1.3B
CashUSD 5.7M
Gross debtUSD 813.8M
Net debtUSD 808.2M
Current ratio0.77×

Net debt stands at 62% of equity.

History
18 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
Revenue $B
0.7
0.7
0.7
0.7
0.6
0.5
0.6
0.6
0.6
0.5
0.6
0.6
0.6
0.5
0.5
0.5
0.5
0.6
Operating income $B
0.2
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
EBITDA $B
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Income tax $B
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Net income $B
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
EPS, diluted $
3.72
3.33
3.25
3.07
2.92
2.60
2.51
2.43
2.82
2.18
2.06
2.32
2.16
1.86
1.76
·
·
·
Dividend / sh $
1.85
1.76
1.67
1.59
1.52
1.45
1.38
1.32
1.26
1.21
1.16
1.11
1.07
1.04
1.01
1.49
1.46
1.43
Payout %
50
53
51
52
52
56
55
54
45
55
56
48
50
56
57
60
66
60
ROE %
10.7
10.2
10.6
10.5
10.6
10.1
10.4
10.6
13.0
10.7
10.6
12.6
12.5
11.4
11.3
11.2
10.4
11.0
Shares out B
0.04
0.04
0.04
0.04
0.04
0.04
0.03
0.03
0.03
0.03
0.03
0.03
0.03
0.03
·
·
·
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
52 of 52
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed