MGE Energy (MGEE) Financials

$91.07 +0.18 (+0.19%)

As of 11:25 AM Eastern

Annual Income Statements for MGE Energy

This table shows MGE Energy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	71	76	98	62	65	48	61	68	118	75
Consolidated Net Income / (Loss)	71	76	98	84	87	92	106	111	118	121
Net Income / (Loss) Continuing Operations	71	76	98	84	87	92	106	111	118	121
Total Pre-Tax Income	113	118	120	112	107	112	110	137	146	131
Total Operating Income	124	124	125	114	111	110	117	138	146	146
Total Gross Profit	168	169	178	171	182	184	194	223	247	255
Total Revenue	564	545	563	560	569	539	607	715	690	677
Operating Revenue	564	545	563	560	569	539	607	715	690	677
Total Cost of Revenue	396	376	385	389	386	354	412	491	444	422
Operating Cost of Revenue	376	356	366	370	367	335	393	471	421	398
Other Cost of Revenue	20	20	19	19	20	20	19	21	22	24
Total Operating Expenses	44	45	53	56	72	74	77	86	100	109
Depreciation Expense	44	45	53	56	72	74	77	86	100	109
Total Other Income / (Expense), net	-12	-5.81	-4.93	-2.55	-4.25	1.84	-7.42	-0.57	-0.88	-15
Interest Expense	20	20	19	20	23	24	24	27	30	33
Other Income / (Expense), net	8.61	14	14	17	19	25	17	26	30	18
Income Tax Expense	41	43	22	27	20	19	4.12	26	28	11
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	0.00	23	22	45	45	43	0.00	46
Basic Earnings per Share	$2.06	$2.18	$2.82	$2.43	$2.51	$2.60	$2.92	$3.07	$3.25	$3.33
Weighted Average Basic Shares Outstanding	34.67M	34.67M	34.67M	34.67M	34.67M	35.61M	36.16M	36.16M	36.16M	36.21M
Diluted Earnings per Share	$2.06	$2.18	$2.82	$2.43	$2.51	$2.60	$2.92	$3.07	$3.25	$3.33
Weighted Average Diluted Shares Outstanding	34.67M	34.67M	34.67M	34.67M	34.67M	35.61M	36.17M	36.17M	36.19M	36.24M
Weighted Average Basic & Diluted Shares Outstanding	34.67M	34.67M	34.67M	34.67M	0.00	0.00	0.00	53.51M	53.52M	53.86M
Cash Dividends to Common per Share	$1.16	$1.21	$1.26	$1.32	$1.38	$1.45	$1.52	$1.59	$1.67	$1.76

This table shows MGE Energy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	34	-12	31	29	38	20	34	24	41	-24
Consolidated Net Income / (Loss)	34	21	31	29	38	20	34	24	41	22
Net Income / (Loss) Continuing Operations	34	21	31	29	38	20	34	24	41	22
Total Pre-Tax Income	42	26	38	36	47	25	37	25	45	25
Total Operating Income	42	28	40	38	44	24	41	30	48	28
Total Gross Profit	64	50	65	64	69	50	67	57	75	56
Total Revenue	163	190	217	148	161	165	191	146	168	171
Operating Revenue	163	190	217	148	161	165	191	146	168	171
Total Cost of Revenue	99	140	153	84	91	115	124	89	93	116
Operating Cost of Revenue	94	135	147	79	86	110	118	83	87	110
Other Cost of Revenue	5.11	5.05	5.61	5.71	5.61	5.38	5.99	5.94	6.10	5.96
Total Operating Expenses	21	22	25	25	25	25	27	27	27	28
Depreciation Expense	21	22	25	25	25	25	27	27	27	28
Total Other Income / (Expense), net	-0.58	-1.62	-2.13	-2.82	2.90	1.18	-4.12	-4.47	-3.56	-2.95
Interest Expense	6.65	6.96	7.49	7.76	7.65	7.53	8.00	8.33	8.40	8.21
Other Income / (Expense), net	6.07	5.34	5.36	4.94	11	8.71	3.88	3.86	4.84	5.26
Income Tax Expense	8.18	5.27	6.82	6.89	8.83	5.26	2.81	1.47	3.64	2.67
Net Income / (Loss) Attributable to Noncontrolling Interest	5.60	27	5.52	5.38	5.49	-16	5.60	5.77	5.78	29
Basic Earnings per Share	$0.93	$0.59	$0.86	$0.79	$1.05	$0.55	$0.93	$0.66	$1.13	$0.61
Weighted Average Basic Shares Outstanding	36.16M	36.16M	36.16M	36.16M	36.16M	36.16M	36.17M	36.18M	36.18M	36.21M
Diluted Earnings per Share	$0.93	$0.59	$0.86	$0.79	$1.05	$0.55	$0.93	$0.66	$1.13	$0.61
Weighted Average Diluted Shares Outstanding	36.18M	36.17M	36.18M	36.19M	36.19M	36.19M	36.19M	36.20M	36.21M	36.24M
Weighted Average Basic & Diluted Shares Outstanding	53.51M	53.51M	53.51M	53.51M	53.51M	53.52M	53.52M	53.52M	53.56M	53.86M
Cash Dividends to Common per Share	$0.41	$0.41	$0.41	$0.41	$0.43	$0.43	$0.43	$0.43	$0.45	$0.45

This table details how cash moves in and out of MGE Energy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	16	15	4.11	-27	-59	21	-28	-0.87	-2.94	-16
Net Cash From Operating Activities	141	148	255	153	130	172	138	154	238	278
Net Cash From Continuing Operating Activities	141	148	255	153	130	172	138	154	238	280
Net Income / (Loss) Continuing Operations	71	76	191	84	87	92	106	111	118	121
Consolidated Net Income / (Loss)	71	76	191	84	87	92	106	111	118	121
Depreciation Expense	44	45	106	56	72	74	77	86	100	109
Non-Cash Adjustments To Reconcile Net Income	-10	-13	-21	-8.90	-10	-13	-8.91	-17	-14	-0.27
Changes in Operating Assets and Liabilities, net	36	41	-20	21	-18	18	-36	-25	34	51
Net Cash From Investing Activities	-73	-87	-223	-218	-172	-210	-157	-180	-230	-241
Net Cash From Continuing Investing Activities	-73	-87	-223	-218	-172	-210	-157	-180	-230	-241
Purchase of Property, Plant & Equipment	-72	-84	-216	-212	-164	-203	-153	-175	-222	-237
Purchase of Investments	-1.05	-2.96	-11	-5.93	-7.81	-5.60	-4.03	-5.19	-7.00	-4.79
Sale of Property, Plant & Equipment	0.00	0.00	4.54	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Investing Activities, net	-0.23	-0.20	-0.04	-0.21	-0.51	-1.67	0.22	0.07	-0.95	0.23
Net Cash From Financing Activities	-52	-46	-29	38	-17	59	-8.76	26	-10	-27
Net Cash From Continuing Financing Activities	-52	-46	-29	38	-17	59	-8.76	26	-10	-53
Repayment of Debt	-12	-4.34	-70	-25	-6.39	-41	-6.97	-6.96	-57	-45
Payment of Dividends	-40	-42	-107	-46	-48	-52	-55	-58	-60	-120
Issuance of Debt	-	-	148	109	37	72	53	90	107	50
Issuance of Common Equity	-	-	0.00	0.00	0.00	80	0.00	0.00	0.00	32
Other Financing Activities, net	-	-	0.00	0.00	-	-	-	-	-	31

This table details how cash moves in and out of MGE Energy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	-11	4.73	1.66	1.63	-5.05	-1.18	5.10	-0.59	-48	27
Net Cash From Operating Activities	33	9.45	56	71	67	44	66	65	79	68
Net Cash From Continuing Operating Activities	33	9.45	56	71	67	44	66	65	79	70
Net Income / (Loss) Continuing Operations	34	21	31	29	38	20	34	24	41	22
Consolidated Net Income / (Loss)	34	21	31	29	38	20	34	24	41	22
Depreciation Expense	21	22	25	25	25	25	27	27	27	28
Non-Cash Adjustments To Reconcile Net Income	-4.69	-3.93	-3.76	-2.00	-5.31	-3.22	0.75	-0.02	0.02	-1.02
Changes in Operating Assets and Liabilities, net	-17	-29	4.08	19	9.26	1.28	4.65	14	11	22
Net Cash From Investing Activities	-68	-43	-50	-62	-45	-74	-46	-67	-54	-74
Net Cash From Continuing Investing Activities	-68	-43	-50	-62	-45	-74	-46	-67	-54	-74
Purchase of Property, Plant & Equipment	-67	-42	-48	-60	-43	-72	-45	-67	-52	-73
Purchase of Investments	-0.61	-1.25	-1.53	-1.85	-2.61	-1.01	-1.38	-1.78	-1.19	-0.44
Other Investing Activities, net	-0.10	-0.06	-0.48	-0.20	0.48	-0.75	-0.27	1.55	-0.47	-0.57
Net Cash From Financing Activities	24	38	-4.77	-7.17	-27	29	-14	1.87	-26	12
Net Cash From Continuing Financing Activities	24	38	-4.77	-7.17	-27	29	-14	1.87	-73	33
Repayment of Debt	-1.36	-2.56	-22	-1.43	-32	-1.71	-1.83	-1.46	9.06	-51
Payment of Dividends	-15	-15	-15	-15	-15	-15	-15	-15	-63	-26
Issuance of Debt	40	56	32	9.00	20	46	3.00	19	-22	50
Issuance of Common Equity	-	-	0.00	-	-	-	0.00	-	2.59	29
Other Financing Activities, net	-	-	-	-	-	-	-	-	-	31

This table presents MGE Energy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	1,726	1,801	1,855	1,989	2,082	2,254	2,372	2,518	2,675	2,828
Total Current Assets	255	276	291	241	182	210	199	243	238	227
Cash & Equivalents	81	96	108	83	23	45	17	12	11	21
Accounts Receivable	70	78	83	78	75	76	97	110	96	97
Inventories, net	48	41	44	42	45	47	52	74	73	68
Current Deferred & Refundable Income Taxes	35	27	27	16	17	15	20	19	22	18
Other Current Assets	20	34	29	21	22	26	13	29	37	23
Plant, Property, & Equipment, net	1,243	1,282	1,341	1,509	1,643	1,769	1,879	1,971	2,128	2,287
Plant, Property & Equipment, gross	1,243	1,282	1,341	1,509	1,643	1,769	1,879	1,971	2,128	2,287
Total Noncurrent Assets	228	243	223	239	260	275	294	303	309	313
Noncurrent Note & Lease Receivables	5.05	5.60	4.79	2.71	1.81	1.44	1.16	0.00	0.00	0.00
Employee Benefit Assets	0.00	2.02	7.34	0.00	14	14	59	69	94	132
Other Noncurrent Operating Assets	223	236	211	236	245	259	234	234	215	181
Total Liabilities & Shareholders' Equity	1,726	1,801	1,855	1,989	2,082	2,254	2,372	2,518	2,675	2,828
Total Liabilities	1,036	1,077	1,077	1,172	1,226	1,278	1,344	1,386	1,481	1,529
Total Current Liabilities	84	104	127	121	129	191	118	225	157	126
Short-Term Debt	4.27	4.33	28	18	20	57	10	125	43	5.29
Accounts Payable	41	48	48	46	55	55	64	59	65	77
Current Employee Benefit Liabilities	11	12	12	13	13	13	13	13	16	16
Other Taxes Payable	5.07	5.50	5.60	7.38	7.24	8.54	10	7.87	9.37	12
Other Current Liabilities	23	34	33	36	34	58	20	20	23	15
Total Noncurrent Liabilities	952	973	950	1,051	1,097	1,087	1,227	1,161	1,324	1,403
Long-Term Debt	387	383	398	493	524	519	614	585	719	764
Asset Retirement Reserve & Litigation Obligation	21	22	154	166	165	142	154	157	162	163
Noncurrent Deferred & Payable Income Tax Liabilities	362	385	226	233	244	253	276	301	326	361
Noncurrent Employee Benefit Liabilities	76	74	69	67	69	78	73	54	55	50
Other Noncurrent Operating Liabilities	107	109	103	92	96	94	109	64	62	65
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	690	724	1,060	817	778	976	1,027	1,082	1,140	1,230
Total Preferred & Common Equity	690	724	778	817	856	976	1,027	1,082	1,140	1,230
Total Common Equity	690	724	778	817	856	976	1,027	1,082	1,140	1,230
Common Stock	351	351	351	351	351	431	431	432	433	466
Retained Earnings	339	373	427	466	505	545	596	650	707	764

This table presents MGE Energy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	2,466	2,522	2,560	2,591	2,674	2,725	2,749
Total Current Assets	200	223	223	216	222	222	210
Cash & Equivalents	11	15	17	11	17	16	15
Accounts Receivable	81	96	83	86	88	87	85
Inventories, net	75	69	72	72	70	71	69
Current Deferred & Refundable Income Taxes	13	13	20	14	14	18	14
Other Current Assets	19	31	31	33	33	30	27
Plant, Property, & Equipment, net	1,955	1,997	2,036	2,071	2,140	2,201	2,233
Plant, Property & Equipment, gross	1,955	-	2,036	2,071	2,140	2,201	2,233
Total Noncurrent Assets	311	302	301	304	312	301	306
Noncurrent Note & Lease Receivables	0.57	0.00	0.00	0.00	0.00	0.00	0.00
Employee Benefit Assets	71	71	72	74	97	99	102
Other Noncurrent Operating Assets	240	231	229	229	216	202	205
Total Liabilities & Shareholders' Equity	2,466	2,522	2,560	2,591	2,674	2,725	2,749
Total Liabilities	1,390	1,424	1,447	1,455	1,460	1,485	1,482
Total Current Liabilities	195	146	159	123	140	168	150
Short-Term Debt	94	68	77	27	46	65	54
Accounts Payable	60	39	39	54	42	50	46
Accrued Expenses	7.82	6.48	8.75	7.37	7.60	10	10
Current Employee Benefit Liabilities	10	9.89	10	13	12	13	15
Other Current Liabilities	22	23	25	22	32	30	25
Total Noncurrent Liabilities	1,196	1,278	1,288	1,332	1,320	1,317	1,332
Long-Term Debt	562	653	652	690	718	716	715
Asset Retirement Reserve & Litigation Obligation	155	153	154	155	157	150	152
Noncurrent Deferred & Payable Income Tax Liabilities	295	307	315	319	330	333	345
Noncurrent Employee Benefit Liabilities	72	54	54	55	55	56	56
Other Noncurrent Operating Liabilities	112	110	114	114	60	62	64
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,075	0.00	1,113	1,135	1,159	1,168	1,195
Total Preferred & Common Equity	1,075	0.00	1,113	1,135	1,159	1,168	1,195
Total Common Equity	1,075	0.00	1,113	1,135	1,159	1,168	1,195
Common Stock	1,075	-	1,113	1,135	1,159	1,168	1,195

This table displays calculated financial ratios and metrics derived from MGE Energy's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-9.01%	-3.42%	3.37%	-0.59%	1.62%	-5.31%	12.62%	17.79%	-3.37%	-1.95%
EBITDA Growth	-6.24%	3.10%	34.28%	-23.45%	7.25%	4.11%	0.68%	18.20%	10.79%	-1.31%
EBIT Growth	-10.33%	3.82%	0.79%	-5.58%	-1.17%	4.35%	-1.02%	22.27%	7.39%	-6.73%
NOPAT Growth	-8.88%	0.79%	28.19%	-15.23%	4.87%	0.62%	24.21%	-1.32%	6.29%	13.54%
Net Income Growth	-11.18%	5.91%	29.18%	-13.72%	3.15%	6.38%	14.44%	4.91%	6.08%	2.44%
EPS Growth	-11.21%	5.83%	29.36%	-13.83%	3.29%	3.59%	12.31%	5.14%	5.86%	2.46%
Operating Cash Flow Growth	9.65%	4.73%	72.79%	-40.10%	-14.74%	32.17%	-20.25%	11.79%	54.53%	16.93%
Free Cash Flow Firm Growth	104.59%	-18.49%	-68.76%	-406.81%	28.39%	13.25%	63.60%	-507.14%	104.12%	845.42%
Invested Capital Growth	0.00%	1.52%	8.04%	13.46%	10.79%	9.36%	8.41%	11.98%	6.28%	5.22%
Revenue Q/Q Growth	-2.55%	1.48%	0.24%	-0.03%	0.15%	-0.82%	4.40%	4.04%	-3.52%	1.01%
EBITDA Q/Q Growth	-2.50%	1.87%	29.52%	-33.40%	27.80%	-20.79%	-1.56%	6.15%	1.17%	0.96%
EBIT Q/Q Growth	-3.79%	2.43%	0.44%	-0.37%	-1.11%	-0.49%	-3.84%	9.12%	-0.23%	0.02%
NOPAT Q/Q Growth	-6.49%	-0.57%	33.75%	-19.33%	0.53%	-3.17%	1.62%	5.54%	-2.66%	4.62%
Net Income Q/Q Growth	-5.25%	4.52%	28.47%	-19.01%	0.35%	-0.93%	-2.52%	7.76%	-0.82%	1.63%
EPS Q/Q Growth	-5.07%	4.31%	28.18%	-19.00%	0.80%	-1.89%	-2.99%	8.48%	-1.22%	1.83%
Operating Cash Flow Q/Q Growth	8.23%	0.10%	122.52%	-64.64%	1,596.79%	-39.84%	-24.15%	2,937.64%	16.74%	9.64%
Free Cash Flow Firm Q/Q Growth	-16.15%	119.55%	-95.91%	-262.47%	95.03%	-39.48%	-63.42%	-143.66%	263.61%	163.12%
Invested Capital Q/Q Growth	231.09%	43.06%	270.43%	240.88%	2.94%	3.23%	3.44%	6.39%	5.66%	1.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	29.87%	30.94%	31.56%	30.48%	32.08%	34.19%	32.03%	31.25%	35.74%	37.65%
EBITDA Margin	31.40%	33.52%	43.54%	33.53%	35.38%	38.90%	34.78%	34.90%	40.02%	40.28%
Operating Margin	22.03%	22.74%	22.13%	20.40%	19.50%	20.42%	19.34%	19.28%	21.20%	21.61%
EBIT Margin	23.56%	25.32%	24.69%	23.45%	22.80%	25.13%	22.09%	22.93%	25.48%	24.24%
Profit (Net Income) Margin	12.65%	13.87%	17.33%	15.05%	15.27%	17.16%	17.44%	15.53%	17.05%	17.81%
Tax Burden Percent	63.30%	63.99%	81.54%	75.43%	81.45%	82.63%	96.25%	80.88%	80.89%	91.92%
Interest Burden Percent	84.83%	85.60%	86.10%	85.06%	82.22%	82.62%	82.00%	83.73%	82.70%	79.93%
Effective Tax Rate	36.70%	36.01%	18.46%	24.57%	18.55%	17.37%	3.75%	19.12%	19.11%	8.08%
Return on Invested Capital (ROIC)	7.86%	7.87%	9.62%	7.36%	6.89%	6.30%	7.19%	6.43%	6.27%	6.74%
ROIC Less NNEP Spread (ROIC-NNEP)	5.62%	6.63%	7.17%	6.53%	6.21%	6.57%	5.93%	6.36%	6.18%	5.02%
Return on Net Nonoperating Assets (RNNOA)	2.71%	2.82%	1.32%	1.62%	4.01%	4.24%	3.37%	4.09%	4.32%	3.44%
Return on Equity (ROE)	10.57%	10.68%	10.94%	8.98%	10.90%	10.54%	10.56%	10.52%	10.60%	10.17%
Cash Return on Invested Capital (CROIC)	7.86%	6.36%	1.90%	-5.25%	-3.35%	-2.64%	-0.88%	-4.87%	0.18%	1.64%
Operating Return on Assets (OROA)	7.77%	7.82%	7.60%	6.83%	6.37%	6.24%	5.79%	6.70%	6.78%	5.96%
Return on Assets (ROA)	4.17%	4.28%	5.34%	4.38%	4.27%	4.26%	4.57%	4.54%	4.53%	4.38%
Return on Common Equity (ROCE)	10.57%	10.68%	9.21%	7.63%	11.43%	11.01%	10.56%	10.52%	10.60%	10.17%
Return on Equity Simple (ROE_SIMPLE)	10.33%	10.44%	12.54%	10.31%	10.15%	9.47%	10.29%	10.26%	10.32%	9.80%
Net Operating Profit after Tax (NOPAT)	79	79	102	86	90	91	113	111	118	134
NOPAT Margin	13.95%	14.55%	18.05%	15.39%	15.88%	16.88%	18.61%	15.59%	17.15%	19.86%
Net Nonoperating Expense Percent (NNEP)	2.25%	1.24%	2.45%	0.83%	0.67%	-0.27%	1.25%	0.07%	0.09%	1.71%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	6.22%	6.23%	6.73%
Cost of Revenue to Revenue	70.13%	69.06%	68.44%	69.52%	67.92%	65.81%	67.97%	68.75%	64.26%	62.35%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	7.84%	8.20%	9.43%	10.08%	12.58%	13.77%	12.69%	11.97%	14.53%	16.04%
Earnings before Interest and Taxes (EBIT)	133	138	139	131	130	135	134	164	176	164
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	177	183	245	188	201	210	211	249	276	273
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.92	4.00	3.67	3.40	4.35	3.55	4.05	3.33	3.32	4.09
Price to Tangible Book Value (P/TBV)	2.92	4.00	3.67	3.40	4.35	3.55	4.05	3.33	3.32	4.09
Price to Revenue (P/Rev)	3.57	5.32	5.07	4.96	6.54	6.44	6.86	5.04	5.48	7.43
Price to Earnings (P/E)	28.25	38.38	29.27	44.98	57.62	72.84	68.22	53.13	32.17	67.22
Dividend Yield	2.98%	2.16%	2.29%	2.48%	1.93%	2.23%	1.95%	2.36%	2.36%	1.87%
Earnings Yield	3.54%	2.61%	3.42%	2.22%	1.74%	1.37%	1.47%	1.88%	3.11%	1.49%
Enterprise Value to Invested Capital (EV/IC)	2.33	3.14	2.90	2.57	3.18	2.65	2.92	2.35	2.33	2.82
Enterprise Value to Revenue (EV/Rev)	4.12	5.86	5.64	5.72	7.70	7.43	7.86	6.02	6.57	8.54
Enterprise Value to EBITDA (EV/EBITDA)	13.13	17.48	12.95	17.06	21.75	19.10	22.60	17.25	16.42	21.20
Enterprise Value to EBIT (EV/EBIT)	17.50	23.13	22.84	24.39	33.75	29.56	35.58	26.25	25.79	35.22
Enterprise Value to NOPAT (EV/NOPAT)	29.56	40.25	31.25	37.17	48.47	44.02	42.22	38.60	38.32	42.99
Enterprise Value to Operating Cash Flow (EV/OCF)	16.47	21.58	12.43	20.92	33.56	23.20	34.66	27.98	19.10	20.81
Enterprise Value to Free Cash Flow (EV/FCFF)	29.56	49.77	158.56	0.00	0.00	0.00	0.00	0.00	1,306.64	176.06
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.57	0.53	0.40	0.63	0.70	0.59	0.61	0.66	0.67	0.63
Long-Term Debt to Equity	0.56	0.53	0.38	0.60	0.67	0.53	0.60	0.54	0.63	0.62
Financial Leverage	0.48	0.42	0.18	0.25	0.65	0.65	0.57	0.64	0.70	0.68
Leverage Ratio	2.53	2.49	2.05	2.05	2.55	2.47	2.31	2.32	2.34	2.32
Compound Leverage Factor	2.15	2.13	1.76	1.74	2.10	2.04	1.89	1.94	1.93	1.86
Debt to Total Capital	36.16%	34.84%	28.70%	38.48%	41.14%	37.14%	37.81%	39.63%	40.06%	38.47%
Short-Term Debt to Total Capital	0.39%	0.39%	1.91%	1.32%	1.49%	3.69%	0.63%	6.97%	2.27%	0.26%
Long-Term Debt to Total Capital	35.76%	34.45%	26.78%	37.16%	39.65%	33.45%	37.18%	32.66%	37.79%	38.20%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	10.62%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	63.84%	65.16%	52.35%	61.52%	64.78%	62.86%	62.19%	60.37%	59.94%	61.53%
Debt to EBITDA	2.21	2.12	1.74	2.72	2.70	2.75	2.96	2.85	2.76	2.82
Net Debt to EBITDA	1.75	1.59	1.30	2.28	2.58	2.54	2.88	2.80	2.72	2.74
Long-Term Debt to EBITDA	2.18	2.10	1.62	2.63	2.60	2.48	2.91	2.35	2.60	2.80
Debt to NOPAT	4.97	4.88	4.20	5.93	6.02	6.34	5.53	6.37	6.43	5.72
Net Debt to NOPAT	3.94	3.67	3.14	4.97	5.76	5.85	5.38	6.27	6.34	5.56
Long-Term Debt to NOPAT	4.92	4.83	3.92	5.73	5.80	5.71	5.44	5.25	6.07	5.68
Altman Z-Score	2.14	2.58	2.57	2.32	2.67	2.42	2.69	2.43	2.42	2.83
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	15.80%	15.02%	-4.90%	-4.45%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.03	2.66	2.30	1.99	1.41	1.10	1.69	1.08	1.52	1.81
Quick Ratio	1.79	1.68	1.51	1.34	0.76	0.63	0.97	0.54	0.68	0.94
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	79	64	20	-61	-44	-38	-14	-84	3.47	33
Operating Cash Flow to CapEx	196.01%	176.75%	120.67%	72.12%	79.54%	84.89%	89.79%	87.83%	106.98%	117.25%
Free Cash Flow to Firm to Interest Expense	3.90	3.23	1.04	-3.13	-1.91	-1.62	-0.58	-3.17	0.11	1.00
Operating Cash Flow to Interest Expense	7.00	7.44	13.22	7.80	5.66	7.33	5.70	5.77	7.81	8.44
Operating Cash Flow Less CapEx to Interest Expense	3.43	3.23	2.27	-3.02	-1.46	-1.31	-0.65	-0.80	0.51	1.24
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.33	0.31	0.31	0.29	0.28	0.25	0.26	0.29	0.27	0.25
Accounts Receivable Turnover	7.52	7.37	6.98	6.94	7.44	7.13	7.00	6.90	6.72	7.03
Inventory Turnover	8.36	8.40	9.08	9.07	8.85	7.66	8.31	7.78	6.04	6.02
Fixed Asset Turnover	0.46	0.43	0.43	0.39	0.36	0.32	0.33	0.37	0.34	0.31
Accounts Payable Turnover	9.59	8.49	8.08	8.30	7.63	6.46	6.94	7.96	7.11	5.91
Days Sales Outstanding (DSO)	48.56	49.54	52.31	52.57	49.07	51.18	52.14	52.88	54.30	51.95
Days Inventory Outstanding (DIO)	43.68	43.44	40.22	40.23	41.22	47.65	43.92	46.90	60.43	60.66
Days Payable Outstanding (DPO)	38.06	42.99	45.20	43.99	47.86	56.54	52.58	45.88	51.33	61.79
Cash Conversion Cycle (CCC)	54.18	49.98	47.33	48.81	42.44	42.29	43.48	53.90	63.41	50.82
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,000	1,015	1,097	1,244	1,379	1,508	1,635	1,830	1,945	2,047
Invested Capital Turnover	0.56	0.54	0.53	0.48	0.43	0.37	0.39	0.41	0.37	0.34
Increase / (Decrease) in Invested Capital	0.00	15	82	148	134	129	127	196	115	102
Enterprise Value (EV)	2,325	3,191	3,175	3,202	4,378	4,001	4,767	4,301	4,537	5,780
Market Capitalization	2,016	2,900	2,857	2,774	3,718	3,470	4,160	3,602	3,786	5,032
Book Value per Share	$13.27	$13.92	$14.96	$15.70	$16.45	$18.24	$19.20	$20.21	$21.31	$22.97
Tangible Book Value per Share	$13.27	$13.92	$14.96	$15.70	$16.45	$18.24	$19.20	$20.21	$21.31	$22.97
Total Capital	1,081	1,111	1,487	1,328	1,321	1,553	1,652	1,792	1,902	1,999
Total Debt	391	387	427	511	543	577	625	710	762	769
Total Long-Term Debt	387	383	398	493	524	519	614	585	719	764
Net Debt	310	291	319	428	520	532	607	698	751	748
Capital Expenditures (CapEx)	72	84	212	212	164	203	153	175	222	237
Debt-free, Cash-free Net Working Capital (DFCFNWC)	93	80	85	54	49	31	74	132	113	86
Debt-free Net Working Capital (DFNWC)	175	176	193	137	72	76	92	143	124	107
Net Working Capital (NWC)	171	172	164	120	53	19	82	18	81	102
Net Nonoperating Expense (NNE)	7.31	3.72	4.02	1.93	3.46	-1.52	7.14	0.46	0.71	14
Net Nonoperating Obligations (NNO)	310	291	37	428	601	532	607	749	805	817
Total Depreciation and Amortization (D&A)	44	45	106	56	72	74	77	86	100	109
Debt-free, Cash-free Net Working Capital to Revenue	16.57%	14.76%	15.03%	9.72%	8.61%	5.78%	12.28%	18.42%	16.37%	12.66%
Debt-free Net Working Capital to Revenue	31.00%	32.37%	34.20%	24.56%	12.74%	14.08%	15.15%	20.05%	17.99%	15.80%
Net Working Capital to Revenue	30.25%	31.58%	29.15%	21.43%	9.29%	3.45%	13.44%	2.58%	11.74%	15.02%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.06	$2.18	$2.82	$2.43	$2.51	$2.60	$2.92	$3.07	$3.25	$3.33
Adjusted Weighted Average Basic Shares Outstanding	52.02M	52.02M	52.02M	52.02M	52.02M	53.51M	36.16M	36.16M	36.16M	36.21M
Adjusted Diluted Earnings per Share	$2.06	$2.18	$2.82	$2.43	$2.51	$2.60	$2.92	$3.07	$3.25	$3.33
Adjusted Weighted Average Diluted Shares Outstanding	52.02M	52.02M	52.02M	52.02M	52.02M	53.51M	36.17M	36.17M	36.19M	36.24M
Adjusted Basic & Diluted Earnings per Share	$2.06	$2.18	$2.82	$2.43	$2.51	$2.60	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	34.67M	34.67M	34.67M	34.67M	34.67M	35.61M	0.00	53.51M	53.52M	53.86M
Normalized Net Operating Profit after Tax (NOPAT)	79	79	102	86	90	91	113	111	118	134
Normalized NOPAT Margin	13.95%	14.55%	18.05%	15.39%	15.88%	16.88%	18.61%	15.59%	17.15%	19.86%
Pre Tax Income Margin	19.98%	21.67%	21.26%	19.95%	18.75%	20.76%	18.11%	19.20%	21.07%	19.38%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.59	6.94	7.19	6.69	5.62	5.75	5.56	6.15	5.78	4.98
NOPAT to Interest Expense	3.90	3.99	5.26	4.39	3.92	3.86	4.68	4.18	3.89	4.08
EBIT Less CapEx to Interest Expense	3.02	2.73	-3.76	-4.13	-1.49	-2.88	-0.80	-0.42	-1.52	-2.21
NOPAT Less CapEx to Interest Expense	0.33	-0.22	-5.70	-6.43	-3.20	-4.77	-1.67	-2.39	-3.41	-3.11
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	56.13%	55.29%	109.30%	54.34%	55.07%	55.97%	51.80%	51.82%	51.31%	99.61%
Augmented Payout Ratio	56.13%	55.29%	109.30%	54.34%	55.07%	55.97%	51.80%	51.82%	51.31%	99.61%

This table displays calculated financial ratios and metrics derived from MGE Energy's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.02%	17.13%	3.98%	-2.86%	-1.76%	-13.26%	-11.93%	-1.54%	4.95%	4.11%
EBITDA Growth	11.55%	35.57%	0.17%	25.73%	13.69%	5.83%	1.75%	-11.58%	0.63%	4.44%
EBIT Growth	10.95%	69.87%	-7.06%	30.68%	11.92%	-1.22%	-1.68%	-22.47%	-2.51%	0.08%
NOPAT Growth	-1.86%	29.63%	-3.72%	49.15%	3.86%	-14.29%	14.61%	-9.54%	24.49%	28.72%
Net Income Growth	-3.43%	61.19%	-9.71%	31.80%	12.27%	-4.60%	8.80%	-17.04%	8.14%	9.65%
EPS Growth	-4.12%	68.57%	-9.47%	31.67%	12.90%	-6.78%	8.14%	-16.46%	7.62%	10.91%
Operating Cash Flow Growth	-83.35%	106.79%	-9.82%	44.35%	103.14%	360.41%	17.52%	-8.97%	18.43%	56.12%
Free Cash Flow Firm Growth	-25.04%	-58.29%	87.66%	86.59%	19.63%	44.76%	9.52%	-5.63%	-60.02%	19.65%
Invested Capital Growth	8.87%	11.98%	10.04%	10.58%	7.02%	6.28%	8.70%	9.85%	9.80%	5.22%
Revenue Q/Q Growth	7.25%	16.18%	14.44%	-31.88%	8.47%	2.57%	16.21%	-23.84%	15.62%	1.74%
EBITDA Q/Q Growth	28.58%	-21.36%	27.16%	-2.22%	16.27%	-26.80%	22.27%	-15.03%	32.32%	-24.02%
EBIT Q/Q Growth	46.45%	-31.46%	36.39%	-4.54%	25.42%	-39.50%	35.75%	-24.73%	57.72%	-37.90%
NOPAT Q/Q Growth	64.73%	-34.65%	46.91%	-5.69%	14.70%	-46.07%	96.45%	-25.57%	57.86%	-44.24%
Net Income Q/Q Growth	54.96%	-37.57%	47.63%	-7.71%	31.99%	-46.95%	68.37%	-29.63%	72.06%	-46.21%
EPS Q/Q Growth	55.00%	-36.56%	45.76%	-8.14%	32.91%	-47.62%	69.09%	-29.03%	71.21%	-46.02%
Operating Cash Flow Q/Q Growth	-32.88%	-71.36%	492.44%	26.76%	-5.55%	-35.09%	51.22%	-1.82%	22.88%	-14.43%
Free Cash Flow Firm Q/Q Growth	90.11%	-63.62%	23.95%	-8.93%	40.71%	-12.45%	-24.56%	-27.17%	10.18%	43.53%
Invested Capital Q/Q Growth	4.26%	6.39%	-1.41%	1.12%	0.89%	5.66%	0.83%	2.20%	0.85%	1.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.13%	26.18%	29.76%	42.91%	43.00%	30.09%	35.20%	38.89%	44.66%	32.43%
EBITDA Margin	42.84%	29.00%	32.22%	46.25%	49.58%	35.38%	37.23%	41.54%	47.53%	35.50%
Operating Margin	26.00%	14.72%	18.43%	25.94%	27.28%	14.68%	21.30%	20.41%	28.57%	16.13%
EBIT Margin	29.72%	17.53%	20.89%	29.28%	33.85%	19.97%	23.32%	23.05%	31.45%	19.19%
Profit (Net Income) Margin	20.64%	11.09%	14.31%	19.38%	23.58%	12.20%	17.67%	16.33%	24.30%	12.85%
Tax Burden Percent	80.47%	79.99%	82.00%	80.64%	81.09%	79.24%	92.33%	94.17%	91.83%	89.18%
Interest Burden Percent	86.30%	79.08%	83.50%	82.09%	85.91%	77.10%	82.06%	75.22%	84.15%	75.06%
Effective Tax Rate	19.53%	20.01%	18.00%	19.36%	18.91%	20.76%	7.67%	5.83%	8.17%	10.82%
Return on Invested Capital (ROIC)	8.71%	4.85%	6.34%	8.65%	8.89%	4.25%	6.94%	6.65%	9.10%	4.88%
ROIC Less NNEP Spread (ROIC-NNEP)	8.63%	4.66%	6.20%	8.30%	9.24%	4.37%	6.65%	6.10%	8.68%	4.55%
Return on Net Nonoperating Assets (RNNOA)	5.45%	3.00%	14.16%	5.00%	5.65%	3.06%	14.96%	4.15%	5.71%	3.12%
Return on Equity (ROE)	14.15%	7.85%	20.51%	13.65%	14.54%	7.31%	21.89%	10.79%	14.81%	7.99%
Cash Return on Invested Capital (CROIC)	-2.10%	-4.87%	-3.17%	-3.13%	0.05%	0.18%	-1.81%	-3.15%	-2.69%	1.64%
Operating Return on Assets (OROA)	8.44%	5.12%	6.16%	8.42%	9.58%	5.31%	5.97%	5.78%	7.89%	4.72%
Return on Assets (ROA)	5.86%	3.24%	4.22%	5.57%	6.68%	3.24%	4.52%	4.09%	6.10%	3.16%
Return on Common Equity (ROCE)	7.52%	7.85%	20.51%	13.65%	14.54%	7.31%	21.89%	10.79%	14.81%	7.99%
Return on Equity Simple (ROE_SIMPLE)	9.58%	0.00%	0.00%	10.29%	10.45%	0.00%	10.39%	9.90%	9.93%	0.00%
Net Operating Profit after Tax (NOPAT)	34	22	33	31	36	19	38	28	44	25
NOPAT Margin	20.92%	11.77%	15.11%	20.92%	22.12%	11.63%	19.66%	19.22%	26.24%	14.38%
Net Nonoperating Expense Percent (NNEP)	0.07%	0.19%	0.15%	0.35%	-0.35%	-0.12%	0.29%	0.54%	0.43%	0.32%
Return On Investment Capital (ROIC_SIMPLE)	-	1.25%	-	-	-	1.01%	-	-	-	1.23%
Cost of Revenue to Revenue	60.87%	73.82%	70.24%	57.09%	57.00%	69.91%	64.80%	61.11%	55.34%	67.57%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	13.13%	11.47%	11.33%	16.97%	15.72%	15.41%	13.90%	18.48%	16.09%	16.30%
Earnings before Interest and Taxes (EBIT)	49	33	45	43	54	33	45	34	53	33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	70	55	70	68	80	58	71	61	80	61
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.14	3.33	0.00	3.72	3.16	3.32	3.62	3.43	4.10	4.09
Price to Tangible Book Value (P/TBV)	3.14	3.33	0.00	3.72	3.16	3.32	3.62	3.43	4.10	4.09
Price to Revenue (P/Rev)	4.91	5.04	5.58	5.75	5.01	5.48	6.30	6.04	7.30	7.43
Price to Earnings (P/E)	63.20	53.13	58.30	50.58	41.72	32.17	54.62	55.69	65.36	67.22
Dividend Yield	2.49%	2.36%	2.13%	2.11%	2.47%	2.36%	2.16%	2.29%	1.89%	1.87%
Earnings Yield	1.58%	1.88%	1.72%	1.98%	2.40%	3.11%	1.83%	1.80%	1.53%	1.49%
Enterprise Value to Invested Capital (EV/IC)	2.33	2.35	2.63	2.66	2.33	2.33	2.52	2.38	2.79	2.82
Enterprise Value to Revenue (EV/Rev)	5.85	6.02	6.56	6.74	5.99	6.57	7.43	7.19	8.43	8.54
Enterprise Value to EBITDA (EV/EBITDA)	17.09	17.25	19.01	18.39	15.70	16.42	17.79	17.67	20.92	21.20
Enterprise Value to EBIT (EV/EBIT)	26.75	26.25	29.57	28.41	24.32	25.79	28.18	28.80	34.43	35.22
Enterprise Value to NOPAT (EV/NOPAT)	38.04	38.60	43.06	40.28	35.25	38.32	40.19	39.89	43.96	42.99
Enterprise Value to Operating Cash Flow (EV/OCF)	793.51	27.98	32.12	28.60	21.07	19.10	19.96	19.77	22.30	20.81
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	4,490.01	1,306.64	0.00	0.00	0.00	176.06
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.61	0.66	0.00	0.66	0.63	0.67	0.66	0.67	0.64	0.63
Long-Term Debt to Equity	0.52	0.54	0.00	0.59	0.61	0.63	0.62	0.61	0.60	0.62
Financial Leverage	0.63	0.64	2.29	0.60	0.61	0.70	2.25	0.68	0.66	0.68
Leverage Ratio	2.39	2.32	4.67	2.30	2.29	2.34	4.48	2.32	2.29	2.32
Compound Leverage Factor	2.06	1.83	3.90	1.89	1.97	1.80	3.68	1.74	1.93	1.74
Debt to Total Capital	37.89%	39.63%	100.00%	39.58%	38.71%	40.06%	39.73%	40.09%	39.15%	38.47%
Short-Term Debt to Total Capital	5.45%	6.97%	9.44%	4.19%	1.46%	2.27%	2.40%	3.34%	2.74%	0.26%
Long-Term Debt to Total Capital	32.44%	32.66%	90.56%	35.39%	37.25%	37.79%	37.33%	36.76%	36.41%	38.20%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	62.11%	60.37%	0.00%	60.42%	61.29%	59.94%	60.27%	59.91%	60.85%	61.53%
Debt to EBITDA	2.79	2.85	2.89	2.77	2.63	2.76	2.75	2.90	2.85	2.82
Net Debt to EBITDA	2.75	2.80	2.83	2.70	2.58	2.72	2.69	2.84	2.79	2.74
Long-Term Debt to EBITDA	2.39	2.35	2.62	2.47	2.53	2.60	2.59	2.66	2.65	2.80
Debt to NOPAT	6.21	6.37	6.55	6.06	5.90	6.43	6.22	6.54	5.98	5.72
Net Debt to NOPAT	6.11	6.27	6.41	5.92	5.80	6.34	6.08	6.41	5.87	5.56
Long-Term Debt to NOPAT	5.32	5.25	5.93	5.42	5.67	6.07	5.84	6.00	5.57	5.68
Altman Z-Score	1.80	2.26	2.08	2.08	1.87	2.24	2.06	1.92	2.32	2.67
Noncontrolling Interest Sharing Ratio	46.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.03	1.08	1.53	1.40	1.76	1.52	1.59	1.32	1.41	1.81
Quick Ratio	0.47	0.54	0.76	0.62	0.79	0.68	0.75	0.62	0.67	0.94
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-106	-173	-132	-144	-85	-96	-119	-152	-136	-77
Operating Cash Flow to CapEx	48.93%	22.71%	117.76%	118.03%	157.40%	60.64%	147.00%	96.66%	151.41%	93.26%
Free Cash Flow to Firm to Interest Expense	-15.93	-24.91	-17.61	-18.51	-11.13	-12.72	-14.91	-18.23	-16.23	-9.38
Operating Cash Flow to Interest Expense	4.96	1.36	7.48	9.15	8.76	5.78	8.22	7.76	9.46	8.28
Operating Cash Flow Less CapEx to Interest Expense	-5.18	-4.62	1.13	1.40	3.19	-3.75	2.63	-0.27	3.21	-0.60
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.28	0.29	0.30	0.29	0.28	0.27	0.26	0.25	0.25	0.25
Accounts Receivable Turnover	8.54	6.90	7.52	8.90	8.57	6.72	7.23	7.79	7.84	7.03
Inventory Turnover	7.54	7.78	8.87	7.19	6.34	6.04	5.97	5.89	5.94	6.02
Fixed Asset Turnover	0.36	0.37	0.37	0.36	0.36	0.34	0.32	0.31	0.31	0.31
Accounts Payable Turnover	8.07	7.96	11.94	7.48	8.24	7.11	10.34	9.49	8.49	5.91
Days Sales Outstanding (DSO)	42.76	52.88	48.52	41.02	42.61	54.30	50.46	46.85	46.59	51.95
Days Inventory Outstanding (DIO)	48.39	46.90	41.17	50.77	57.55	60.43	61.16	61.97	61.43	60.66
Days Payable Outstanding (DPO)	45.22	45.88	30.58	48.78	44.32	51.33	35.31	38.45	43.01	61.79
Cash Conversion Cycle (CCC)	45.94	53.90	59.11	43.01	55.84	63.41	76.31	70.37	65.00	50.82
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,720	1,830	1,805	1,825	1,841	1,945	1,961	2,005	2,022	2,047
Invested Capital Turnover	0.42	0.41	0.42	0.41	0.40	0.37	0.35	0.35	0.35	0.34
Increase / (Decrease) in Invested Capital	140	196	165	175	121	115	157	180	181	102
Enterprise Value (EV)	4,016	4,301	4,742	4,846	4,288	4,537	4,936	4,765	5,649	5,780
Market Capitalization	3,371	3,602	4,035	4,134	3,582	3,786	4,189	3,999	4,895	5,032
Book Value per Share	$20.09	$20.21	$0.00	$20.79	$21.22	$21.31	$32.04	$21.82	$22.33	$22.97
Tangible Book Value per Share	$20.09	$20.21	$0.00	$20.79	$21.22	$21.31	$32.04	$21.82	$22.33	$22.97
Total Capital	1,731	1,792	721	1,841	1,852	1,902	1,923	1,949	1,964	1,999
Total Debt	656	710	721	729	717	762	764	781	769	769
Total Long-Term Debt	562	585	653	652	690	719	718	716	715	764
Net Debt	645	698	706	712	706	751	747	765	754	748
Capital Expenditures (CapEx)	67	42	48	60	43	72	45	67	52	73
Debt-free, Cash-free Net Working Capital (DFCFNWC)	89	132	131	124	109	113	112	103	100	86
Debt-free Net Working Capital (DFNWC)	99	143	145	140	121	124	128	119	114	107
Net Working Capital (NWC)	5.05	18	77	63	94	81	82	54	61	102
Net Nonoperating Expense (NNE)	0.47	1.29	1.75	2.28	-2.35	-0.93	3.81	4.21	3.27	2.63
Net Nonoperating Obligations (NNO)	645	749	1,805	712	706	805	803	837	826	817
Total Depreciation and Amortization (D&A)	21	22	25	25	25	25	27	27	27	28
Debt-free, Cash-free Net Working Capital to Revenue	12.92%	18.42%	18.07%	17.22%	15.29%	16.37%	16.79%	15.54%	14.86%	12.66%
Debt-free Net Working Capital to Revenue	14.46%	20.05%	20.10%	19.51%	16.86%	17.99%	19.30%	18.00%	17.08%	15.80%
Net Working Capital to Revenue	0.74%	2.58%	10.69%	8.79%	13.08%	11.74%	12.35%	8.18%	9.06%	15.02%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.93	$0.59	$0.86	$0.79	$1.05	$0.55	$0.93	$0.66	$1.13	$0.61
Adjusted Weighted Average Basic Shares Outstanding	36.16M	36.16M	36.16M	36.16M	36.16M	36.16M	36.17M	36.18M	36.18M	36.21M
Adjusted Diluted Earnings per Share	$0.93	$0.59	$0.86	$0.79	$1.05	$0.55	$0.93	$0.66	$1.13	$0.61
Adjusted Weighted Average Diluted Shares Outstanding	36.18M	36.17M	36.18M	36.19M	36.19M	36.19M	36.19M	36.20M	36.21M	36.24M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	53.51M	53.51M	53.51M	53.51M	53.51M	53.52M	53.52M	53.52M	53.56M	53.86M
Normalized Net Operating Profit after Tax (NOPAT)	34	22	33	31	36	19	38	28	44	25
Normalized NOPAT Margin	20.92%	11.77%	15.11%	20.92%	22.12%	11.63%	19.66%	19.22%	26.24%	14.38%
Pre Tax Income Margin	25.64%	13.86%	17.45%	24.03%	29.08%	15.39%	19.14%	17.34%	26.46%	14.41%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.30	4.78	6.06	5.58	7.10	4.37	5.58	4.04	6.31	4.01
NOPAT to Interest Expense	5.14	3.21	4.38	3.99	4.64	2.54	4.70	3.36	5.27	3.00
EBIT Less CapEx to Interest Expense	-2.84	-1.20	-0.29	-2.17	1.53	-5.17	-0.02	-4.00	0.06	-4.87
NOPAT Less CapEx to Interest Expense	-5.00	-2.77	-1.97	-3.76	-0.93	-6.99	-0.89	-4.67	-0.98	-5.88
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	55.14%	51.82%	54.11%	51.47%	50.28%	51.31%	50.75%	53.53%	92.45%	99.61%
Augmented Payout Ratio	55.14%	51.82%	54.11%	51.47%	50.28%	51.31%	50.75%	53.53%	92.45%	99.61%

Frequently Asked Questions About MGE Energy's Financials

When does MGE Energy's financial year end?

According to the most recent income statement we have on file, MGE Energy's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has MGE Energy's net income changed over the last 9 years?

MGE Energy's net income appears to be on an upward trend, with a most recent value of $120.57 million in 2024, rising from $71.34 million in 2015. The previous period was $117.70 million in 2023. Check out MGE Energy's forecast to explore projected trends and price targets.

What is MGE Energy's operating income?

MGE Energy's total operating income in 2024 was $146.26 million, based on the following breakdown:

Total Gross Profit: $254.84 million
Total Operating Expenses: $108.58 million

How has MGE Energy revenue changed over the last 9 years?

Over the last 9 years, MGE Energy's total revenue changed from $564.03 million in 2015 to $676.94 million in 2024, a change of 20.0%.

How much debt does MGE Energy have?

MGE Energy's total liabilities were at $1.53 billion at the end of 2024, a 3.2% increase from 2023, and a 47.6% increase since 2015.

How much cash does MGE Energy have?

In the past 9 years, MGE Energy's cash and equivalents has ranged from $11.14 million in 2023 to $107.95 million in 2017, and is currently $21.30 million as of their latest financial filing in 2024.

How has MGE Energy's book value per share changed over the last 9 years?

Over the last 9 years, MGE Energy's book value per share changed from 13.27 in 2015 to 22.97 in 2024, a change of 73.0%.

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This page (NASDAQ:MGEE) was last updated on 5/5/2025 by MarketBeat.com Staff

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MGE Energy (MGEE) Financials

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MGE Energy (MGEE) Financials

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