MGE ENERGY INC

Listed Company

MGEECIK 0001161728NasdaqLarge AcceleratedElectric, Gas & Sanitary ServicesWisconsinFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$135.89M

Total Assets

$3.16B

Equity

$1.30B

Shares Out

36.76M

Op. Cash Flow

$263.23M

MGEE$81.09−5.30% · past yearDBEQ Basic

Daily closing prices

Business

MGE Energy is a utility holding company providing regulated electric and natural gas distribution through subsidiary MGE in south-central Wisconsin. It generates and purchases electricity from coal, natural gas, renewable, and other sources for approximately 170,000 electric customers. MGE also distributes natural gas to approximately 180,000 customers across seven south-central Wisconsin counties. The company owns nonregulated generation assets leased to MGE and holds equity interests in American Transmission Company.

Summary from 10-K filed 2026-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Electric revenues	532	498	490	466	421
Gas revenue	211	179	200	249	186
Total Operating Revenues	744	677	690	715	607
Fuel for electric generation	71	54	58	61	55
Purchased power	20	33	41	47	39
Cost of gas sold	107	83	107	153	100
Other operations and maintenance	237	229	216	210	199
Depreciation and amortization	114	109	100	86	77
Other general taxes	24	24	22	21	19
Total Operating Expenses	573	531	544	577	489
Operating Income	171	146	146	138	117
Other income, net	20	18	30	26	17
Interest (expense) income, net	−34	−33	−30	−27	−24
Income before income taxes	157	131	146	137	110
Income tax provision	−21	−11	−28	−26	−4
Net Income Including Noncontrolling Interest	136	121	118	111	106
Net Income	136	121	118	111	106
Earnings Per Share of Common Stock, Basic	3.72	3.33	3.25	3.07	2.92
Earnings Per Share of Common Stock, Diluted	3.72	3.33	3.25	3.07	2.92
Dividends per share of common stock	1.85	1.76	1.67	1.59	1.52
Weighted Average Shares Outstanding, Basic	37	36	36	36	36
Weighted Average Shares Outstanding, Diluted	37	36	36	36	36

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	6	21	11	12	17
Accounts receivable, less reserves	58	51	47	55	46
Other accounts receivables, less reserves	13	10	16	11	16
Unbilled revenues	43	36	33	43	35
Materials and supplies, at average cost	38	36	33	33	30
Fuel for electric generation, at average cost	11	12	13	8	6
Stored natural gas, at average cost	15	20	26	33	16
Prepaid taxes	19	18	22	19	20
Regulatory asset - current	9	9	21	10	1
Other current assets	17	14	16	19	11
Total Current Assets	229	227	238	243	199
Regulatory assets	43	37	82	104	108
Pension and other postretirement benefit asset	165	132	94	69	59
Other deferred assets and other	18	26	21	24	28
Property, plant and equipment, net	2,280	2,149	2,018	1,865	1,828
Construction work in progress	293	138	110	106	51
Total Property, Plant, and Equipment	2,573	2,287	2,128	1,971	1,879
Investments	128	118	113	106	99
Total Assets	3,155	2,828	2,675	2,518	2,372
Long-term debt due within one year	22	5	5	54	5
Short-term debt	95	0	38	71	6
Accounts payable	118	77	65	59	64
Accrued interest and taxes	10	12	9	8	10
Accrued payroll related items	17	16	16	13	13
Regulatory liabilities - current	23	8	15	12	9
Other current liabilities	12	7	8	8	11
Total Current Liabilities	297	126	157	225	118
Deferred income taxes	338	316	279	252	231
Investment tax credit - deferred	49	45	47	49	45
Regulatory liabilities	185	163	162	157	154
Accrued pension and other postretirement benefits	51	50	55	54	73
Asset Retirement Obligations	76	69	54	50	—
Other deferred liabilities and other	63	65	62	47	92
Total Other Credits	763	709	659	626	612
Common stock	37	36	36	36	36
Additional paid-in capital	435	430	397	396	395
Retained earnings	832	764	707	650	596
Total Common Shareholders' Equity	1,304	1,230	1,140	1,082	1,027
Long-term debt	792	764	719	585	614
Total Capitalization	2,096	1,994	1,859	1,667	1,642
Commitments and contingencies (see Footnote 16)	—	—	—	—	—
Total Liabilities and Capitalization	3,155	2,828	2,675	2,518	2,372

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income taxes	8	608,000	23	23	5
Provision for doubtful receivables	9	9	2	2	2
Employee benefit plan (credit) cost	−5	606,000	−6	−8	−2
Cash contributions to pension and other postretirement plans	−8	−8	−8	−7	−7
Equity earnings in investments	−13	−12	−11	−9	−9
Dividends from investments	11	9	9	7	8
Accounts receivable and unbilled revenues	−22	−7	11	−17	−25
Inventories	5	6	−850,000	−22	−6
Prepaid taxes	−924,000	4	−3	1	−5
Other current assets	−3	665,000	950,000	−4	−192,000
Accounts payable	8	6	−5	5	3
Deferred income taxes	11	19	0	0	—
Other current liabilities	2	6	4	−6	−7
Regulatory assets and liabilities, net	10	7	−968,000	—	—
Other, net	1	8	4	—	—
Cash Provided by Operating Activities	263	278	238	154	138
Capital expenditures	−343	−237	−222	−175	−153
Capital contributions to investments	−9	−5	−7	−5	−4
Other	2	230,000	−954,000	70,000	221,000
Cash Used for Investing Activities	−351	−241	−230	−180	−157
Issuance of common stock, net	4	32	0	0	0
Cash dividends paid on common stock	−68	−64	−60	−58	−55
Repayment of long-term debt	−5	−5	−54	−5	−5
Issuance of long-term debt	50	50	139	25	100
Proceeds from (repayments of) short-term debt	93	−38	−33	65	−47
Other	−2	−2	−3	−2	−2
Cash (Used for) Provided by Financing Activities	72	−27	−10	26	−9
Change in cash, cash equivalents, and restricted cash:	−16	9	−3	−867,000	−28

Filings

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Frequently asked questions

What is MGE ENERGY INC's CIK number?

MGE ENERGY INC's SEC CIK number is 0001161728 (1161728). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find MGE ENERGY INC's SEC filings?

All of MGE ENERGY INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did MGE ENERGY INC last report earnings?

MGE ENERGY INC (MGEE) most recently filed an earnings 8-K with the SEC on May 5, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-205689). This is MGE ENERGY INC's most recent earnings filing of record — not a forecast of its next earnings date.

What is MGE ENERGY INC's most recent earnings 8-K?

MGE ENERGY INC's latest earnings 8-K (Item 2.02) was filed May 5, 2026 under accession 0001193125-26-205689. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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