MGE Energy, Inc. (MGEE) Financial Ratios
30 years of historical data (1996–2025) · Utilities · Diversified Utilities
EV/EBITDA
↓
13.05
↓-15% vs avg
5yr avg: 15.31
30Y Low6.5·High18.5
P/FCF
↓
N/A
—
5yr avg: 126.13
30Y Low9.2·High168.9
P/B Ratio
↓
2.13
↓-15% vs avg
5yr avg: 2.50
30Y Low1.5·High3.2
ROE
↑
10.7%
↓+2% vs avg
5yr avg: 10.5%
30Y Low3%·High14%
Debt/EBITDA
↓
3.28
+2% vs avg
5yr avg: 3.22
30Y Low2.2·High3.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MGEE Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
MGE Energy, Inc. trades at 20.4x earnings, 17% below its 5-year average of 24.5x, sitting at the 57th percentile of its historical range. Compared to the Utilities sector median P/E of 19.0x, the stock trades at a premium of 8%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.8B | $2.9B | $3.4B | $2.6B | $2.5B | $3.0B | $2.5B | $2.7B | $2.1B | $2.2B | $2.3B |
| Enterprise Value | $3.7B | $3.8B | $4.2B | $3.4B | $3.3B | $3.6B | $3.0B | $3.3B | $2.5B | $2.5B | $2.6B |
| P/E Ratio → | 20.41 | 21.08 | 28.22 | 22.25 | 22.93 | 28.17 | 26.93 | 33.83 | 24.67 | 22.38 | 29.95 |
| P/S Ratio | 3.75 | 3.86 | 5.03 | 3.79 | 3.56 | 4.90 | 4.63 | 4.80 | 3.71 | 3.88 | 4.16 |
| P/B Ratio | 2.13 | 2.20 | 2.77 | 2.30 | 2.35 | 2.90 | 2.56 | 3.19 | 2.17 | 2.38 | 2.70 |
| P/FCF | — | — | 83.34 | 168.92 | — | — | — | — | — | 87.99 | 35.45 |
| P/OCF | 10.60 | 10.89 | 12.26 | 11.01 | 16.57 | 21.63 | 14.46 | 20.94 | 13.58 | 16.45 | 15.35 |
P/E links to full P/E history page with 30-year chart
MGEE EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
MGE Energy, Inc.'s enterprise value stands at 13.1x EBITDA, 15% below its 5-year average of 15.3x. The Utilities sector median is 11.9x, placing the stock at a 9% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.11 | 6.16 | 4.90 | 4.57 | 5.93 | 5.65 | 5.75 | 4.48 | 4.45 | 4.69 |
| EV / EBITDA | 13.05 | 13.32 | 16.37 | 13.72 | 14.61 | 18.53 | 16.52 | 17.92 | 14.69 | 13.78 | 14.78 |
| EV / EBIT | 21.79 | 19.94 | 25.42 | 19.24 | 19.91 | 26.86 | 22.48 | 25.21 | 19.10 | 18.03 | 18.52 |
| EV / FCF | — | — | 102.09 | 218.56 | — | — | — | — | — | 100.81 | 40.01 |
MGEE Profitability
Margins and return-on-capital ratios measuring operating efficiency
MGE Energy, Inc. earns an operating margin of 22.9%, above the Utilities sector average of 18.5%. Operating margins have expanded from 21.2% to 22.9% over the past 3 years, signaling improving operational efficiency. ROE of 10.7% is modest. ROIC of 6.1% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 97.3% | 97.3% | 41.2% | 39.0% | 34.1% | 35.2% | 37.9% | 35.6% | 33.9% | 35.7% | 35.4% |
| Operating Margin | 22.9% | 22.9% | 21.6% | 21.2% | 19.3% | 19.3% | 20.4% | 19.5% | 20.4% | 22.9% | 23.5% |
| Net Profit Margin | 18.3% | 18.3% | 17.8% | 17.0% | 15.5% | 17.4% | 17.2% | 15.3% | 15.0% | 17.3% | 13.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.7% | 10.7% | 10.2% | 10.6% | 10.5% | 10.6% | 10.1% | 9.6% | 9.0% | 11.1% | 9.0% |
| ROA | 4.5% | 4.5% | 4.4% | 4.5% | 4.5% | 4.6% | 4.3% | 4.3% | 4.4% | 5.3% | 4.3% |
| ROIC | 6.1% | 6.1% | 5.6% | 5.9% | 6.0% | 5.5% | 5.7% | 6.0% | 6.5% | 8.2% | 8.5% |
| ROCE | 6.1% | 6.1% | 5.6% | 6.1% | 6.1% | 5.4% | 5.5% | 5.8% | 6.4% | 7.5% | 7.7% |
MGEE Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
MGE Energy, Inc. carries a Debt/EBITDA ratio of 3.3x, which is moderately leveraged (37% below the sector average of 5.2x). Net debt stands at $929M ($936M total debt minus $7M cash). Interest coverage of 5.6x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.72 | 0.72 | 0.64 | 0.68 | 0.67 | 0.62 | 0.61 | 0.66 | 0.53 | 0.46 | 0.46 |
| Debt / EBITDA | 3.28 | 3.28 | 3.09 | 3.16 | 3.26 | 3.30 | 3.23 | 3.07 | 2.99 | 2.35 | 2.24 |
| Net Debt / Equity | — | 0.71 | 0.62 | 0.67 | 0.66 | 0.61 | 0.56 | 0.63 | 0.45 | 0.35 | 0.35 |
| Net Debt / EBITDA | 3.26 | 3.26 | 3.01 | 3.12 | 3.20 | 3.21 | 2.98 | 2.94 | 2.51 | 1.75 | 1.68 |
| Debt / FCF | — | — | 18.75 | 49.64 | — | — | — | — | — | 12.82 | 4.56 |
| Interest Coverage | 5.63 | 5.63 | 4.98 | 5.78 | 6.15 | 5.56 | 5.75 | 5.62 | 6.69 | 7.19 | 6.94 |
MGEE Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.77x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 1.52x to 0.77x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.77 | 0.77 | 1.81 | 1.52 | 1.08 | 1.69 | 1.10 | 1.41 | 1.99 | 2.30 | 2.66 |
| Quick Ratio | 0.55 | 0.55 | 1.27 | 1.05 | 0.75 | 1.25 | 0.85 | 1.06 | 1.65 | 1.95 | 2.26 |
| Cash Ratio | 0.02 | 0.02 | 0.17 | 0.07 | 0.05 | 0.15 | 0.23 | 0.18 | 0.69 | 0.85 | 0.93 |
| Asset Turnover | — | 0.24 | 0.24 | 0.26 | 0.28 | 0.26 | 0.24 | 0.27 | 0.28 | 0.30 | 0.30 |
| Inventory Turnover | 0.31 | 0.31 | 5.89 | 5.80 | 6.34 | 7.56 | 7.08 | 8.09 | 8.80 | 8.27 | 8.55 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
MGEE Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
MGE Energy, Inc. returns 2.4% to shareholders annually primarily through dividends. A payout ratio of 49.7% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 4.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.4% | 2.4% | 1.9% | 2.3% | 2.3% | 1.8% | 2.1% | 1.8% | 2.2% | 2.0% | 1.8% |
| Payout Ratio | 49.7% | 49.7% | 52.7% | 51.3% | 51.8% | 51.8% | 56.0% | 55.1% | 54.3% | 44.8% | 55.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.9% | 4.7% | 3.5% | 4.5% | 4.4% | 3.6% | 3.7% | 3.0% | 4.1% | 4.5% | 3.3% |
| FCF Yield | — | — | 1.2% | 0.6% | — | — | — | — | — | 1.1% | 2.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.4% | 2.4% | 1.9% | 2.3% | 2.3% | 1.8% | 2.1% | 1.8% | 2.2% | 2.0% | 1.8% |
| Shares Outstanding | — | $37M | $36M | $36M | $36M | $36M | $36M | $35M | $35M | $35M | $35M |
Peer Comparison
Compare MGEE with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MGEEYou | $3B | 20.4 | 13.1 | — | 97.3% | 22.9% | 10.7% | 6.1% | 3.3 |
 OTTR | $4B | 13.4 | 9.5 | 37.5 | 27.8% | 26.5% | 15.6% | 10.4% | 2.4 |
 AVA | $3B | 16.7 | 10.3 | — | 24.2% | 18.0% | 7.3% | 4.5% | 5.3 |
 NWE | $4B | 23.8 | 13.2 | — | 82.3% | 20.2% | 6.3% | 4.0% | 5.7 |
 LAUR | $5B | 19.3 | 10.9 | 19.8 | 28.3% | 25.3% | 26.2% | 20.3% | 1.6 |
 CWCO | $478M | 26.2 | 13.8 | 14.4 | 36.0% | 13.8% | 8.3% | 12.2% | 0.1 |
 WEC | $37B | 23.2 | 15.3 | — | 50.5% | 24.2% | 11.6% | 5.1% | 5.8 |
 EVRG | $19B | 22.5 | 12.7 | — | 32.3% | 25.2% | 8.4% | 4.5% | 5.7 |
 ITRI | $4B | 12.4 | 10.4 | 9.4 | 37.5% | 13.5% | 19.1% | 13.1% | 3.5 |
 ALE | $4B | 21.9 | 13.0 | 38.6 | 32.5% | 10.5% | 5.3% | 2.3% | 4.1 |
 IDA | $8B | 24.1 | 17.3 | — | 22.1% | 21.9% | 9.4% | 4.6% | 5.6 |
| Utilities Median | — | 19.0 | 11.9 | 18.6 | 38.4% | 18.5% | 9.3% | 4.9% | 5.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
Consensus-Based Analysis Tools
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
MGEE — Frequently Asked Questions
Quick answers to the most common questions about buying MGEE stock.
What is MGE Energy, Inc.'s P/E ratio?
MGE Energy, Inc.'s current P/E ratio is 20.4x. The historical average is 21.3x. This places it at the 57th percentile of its historical range.
What is MGE Energy, Inc.'s EV/EBITDA?
MGE Energy, Inc.'s current EV/EBITDA is 13.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.2x.
What is MGE Energy, Inc.'s ROE?
MGE Energy, Inc.'s return on equity (ROE) is 10.7%. The historical average is 10.7%.
Is MGEE stock overvalued?
Based on historical data, MGE Energy, Inc. is trading at a P/E of 20.4x. This is at the 57th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is MGE Energy, Inc.'s dividend yield?
MGE Energy, Inc.'s current dividend yield is 2.43% with a payout ratio of 49.7%.
What are MGE Energy, Inc.'s profit margins?
MGE Energy, Inc. has 97.3% gross margin and 22.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does MGE Energy, Inc. have?
MGE Energy, Inc.'s Debt/EBITDA ratio is 3.3x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.