Zacks Investment Research·Jun 27, 2026
Are You Looking for a High-Growth Dividend Stock?Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does MGE (MGEE) have what it takes?
MGE Energy, Inc.(MGEE)Earnings, Financials & Key Ratios
MGEE•NASDAQ•Utilities
$83.07
22.3× P/E·Price updated Jul 7, 2026
AboutMGE Energy, Inc., through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other. The company generates, purchases, and distributes electricity; owns or leases electric generation facilities located in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services. It also generates electricity from coal-fired, gas-fired, and renewable energy sources, as well as purchases power under short and long-term commitments. As of December 31, 2021, the company generated and distributed electricity to 159,000 customers in Dane County, Wisconsin; and purchased and distributed natural gas to 169,000 customers in seven Wisconsin counties. MGE Energy, Inc.is headquartered in Madison, Wisconsin.Show more
- Revenue$744M+9.9%
- EBITDA$285M+11.8%
- Net Income$136M+12.7%
- Free Cash Flow-$80M-295.8%
- EBITDA Margin38.32%+1.8%
- Net Margin18.27%+2.6%
- ROE10.72%+5.4%
- Interest Coverage5.63+13.1%
- Debt/Equity0.72+12.1%
MGEE Price & Volume
MGE Energy, Inc. (MGEE) stock price & volume — 10-year historical chart
Loading chart...
Renewable Transition Drives MGEE Rate Base Expansion
Investment Thesis • Updated 2026Q1
VerdictNeutral: While the 15.8% EPS growth and 29.7 OCF-to-dividend coverage ratio demonstrate operational strength
Growth:Accelerating
Profitability:Strong
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Regulatory lag and transition
Key Thesis Takeaways
- MGE Energy is currently executing a capital-intensive pivot toward renewable generation, which serves as the primary catalyst for its 15.8% EPS growth observed in 2026Q1.
- While this infrastructure deployment expands the regulated rate base, investors should monitor the potential for regulatory lag and the long-term financial impact of decommissioning costs associated with the Columbia Energy Center.
- The company's conservative 0.70 debt-to-equity ratio provides necessary flexibility to navigate this transition while maintaining a stable dividend profile.
Verdict Logic
the current free cash flow deficit of $20.4 million warrants caution regarding the timing of regulatory cost recovery.
MGEE Growth Metrics
MGE Energy, Inc. (MGEE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years2.8%
5 Years6.66%
3 Years1.34%
TTM8.91%
Profit CAGR
10 Years6.66%
5 Years8.02%
3 Years6.99%
TTM11.24%
EPS CAGR
10 Years6.09%
5 Years7.43%
3 Years6.61%
TTM10.17%
Return on Capital
10 Years6.21%
5 Years5.86%
3 Years5.94%
Last Year6.14%
MGEE Recent Earnings
MGE Energy, Inc. (MGEE) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 4/12 qtrs (33%)●Beat Revenue 4/12 qtrs (80%)
Q2 2026Latest
May 5, 2026Metric
Actual
Est
EPS
$1.32+16.8%
$1.13
Rev
$243M+6.9%
$227M
Q1 2026
Feb 25, 2026Metric
Actual
Est
EPS
$0.64+0.0%
$0.64
Rev
$190M+5.4%
$180M
Q1 2026
Feb 24, 2026Metric
Actual
Est
EPS
$0.64+0.0%
$0.64
Rev
$190M+5.4%
$180M
Q4 2025
Nov 5, 2025Metric
Actual
Est
EPS
$1.22+2.5%
$1.19
Rev
$176M
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 5, 2026 | $1.32vs $1.13+16.8% | $243Mvs $227M+6.9% |
| Q1 2026 | Feb 25, 2026 | $0.64vs $0.64+0.0% | $190Mvs $180M+5.4% |
| Q1 2026 | Feb 24, 2026 | $0.64vs $0.64+0.0% | $190Mvs $180M+5.4% |
| Q4 2025 | Nov 5, 2025 | $1.22vs $1.19+2.5% | $176M |
Based on last 12 quarters of dataView full earnings history →
Latest MGEE News
Recent stock market news and headlines for MGE Energy, Inc. (MGEE)
Peers Comparison
Key metrics vs top competitors for MGE Energy, Inc. (MGEE)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $83.07 | $3.05B | 22.33 | 9.85% | 18.27% | 10.72% | 2.22% | |
| $90.85 | $3.81B | 13.87 | -1.99% | 21.34% | 15.21% | — | |
| $41.24 | $3.41B | 17.33 | 1.34% | 10.75% | 7.65% | — | |
| $70.75 | $4.35B | 24.06 | 6.38% | 10.21% | 5.8% | — | |
| $39.86 | $5.69B | 21.09 | 8.64% | 16.08% | 25.36% | — | |
| $28.67 | $458.73M | 25.15 | -1.41% | 13.5% | 7.67% | — |
Compare MGEE vs Peers
MGE Energy, Inc. (MGEE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MGEE SEC Filings & Documents
MGE Energy, Inc. (MGEE) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 5, 2026·SEC
Material company update
Apr 21, 2026·SEC
Material company update
Feb 27, 2026·SEC
10-K Annual Reports
310-Q Quarterly Reports
6Get notified when MGEE posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
MGEE Frequently Asked Questions
MGE Energy, Inc. (MGEE) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is MGE Energy, Inc.'s revenue?
MGE Energy, Inc. (MGEE) reported $767.4M in revenue for fiscal year 2025. This represents a 203% increase from $253.2M in 1996.
How fast is MGE Energy, Inc. growing?
MGE Energy, Inc. (MGEE) grew revenue by 9.9% over the past year. This is steady growth.
Is MGEE profitable?
Yes, MGE Energy, Inc. (MGEE) is profitable, generating $142.8M in net income for fiscal year 2025 (18.3% net margin).
Dividend & Returns
Does MGEE pay dividends?
Yes, MGE Energy, Inc. (MGEE) pays a dividend with a yield of 2.22%. This makes it attractive for income-focused investors.
What is MGEE's return on equity?
MGE Energy, Inc. (MGEE) has a return on equity (ROE) of 10.7%. This is reasonable for most industries.
What is MGE Energy, Inc.'s free cash flow?
MGE Energy, Inc. (MGEE) had negative free cash flow of $130.6M in fiscal year 2025, likely due to heavy capital investments.
Industry Metrics
Is MGEE's dividend sustainable?
MGE Energy, Inc. (MGEE) has a dividend payout ratio of 50%. This suggests the dividend is well-covered and sustainable.