Is MGE Energy (MGEE) overvalued or fairly valued?

MarketChacha shows MGE Energy's valuation in context — a trailing P/E of about 16.4, a forward P/E of about 17.2, a price-to-book of about 1.9 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does MGE Energy's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (2.08×) from reported figures — education, not a rating.

What is the share price of MGE Energy (MGEE)?

MGE Energy last traded at $72.20 (+1.2% on the day), as of 10/20/2026 — a delayed quote shown for education, not investment advice.

MGE Energy

MGEE · NYSE · Utilities · United States

Snapshot

TickerMGEE

ExchangeNYSE

SectorUtilities

IndustryUtilities - Regulated Electric

CountryUnited States

Employees726

HeadquartersMadison, United States

Websitewww.mgeenergy.com

Filings tracked23

About MGE Energy

MGE Energy, Inc., through its subsidiaries, operates as a public utility holding company in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity; purchases and distributes natural gas; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services. It also generates electricity from coal-fired, gas-fired, and renewable energy sources and provides solar and wind generation, and battery storage services. As of December 31, 2025, the company owned and operated 811 miles of overhead electric distribution lines; 1,386 miles of underground electric distribution cables; 47 substations with an installed capacity of 1.2 million kVA; and gas facilities, including 3,117 miles of distribution mains, as well as supplied electric service to approximately 170,000 customers. MGE Energy, Inc. has a strategic partnership with Realta Fusion Inc. and Madison Gas and Electric Company. MGE Energy, Inc. was incorporated in 2001 and is headquartered in Madison, Wisconsin.

Who owns it

Insiders0.3%
Institutions70.4%
Public & other29.3%

430 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.16.13%
Vanguard Portfolio Management LLC7.39%
State Street Corporation5.43%
Vanguard Capital Management LLC4.51%
Geode Capital Management, LLC2.66%
Zimmer Partners, Lp2.65%
Dimensional Fund Advisors LP1.86%
Morgan Stanley1.44%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion2.08×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $186.1M · EPS 0.68

Est. earnings growth +6.0%

Next fiscal year

Rev $821.0M · EPS 4.20

Est. earnings growth +5.3%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

ROE

10.4%

Profit CAGR (2y)

+7.4%

EPS (FY2025)

3.72

Net profit (FY2025)

$135.9M

Ask MarketChacha about MGEE

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Net profit	EPS	ROE
FY2025	$135.9M	3.72	10.4%
FY2024	$120.6M	3.33	9.8%
FY2023	$117.7M	3.25	10.3%

Quarterly

Period	Net profit	EPS
2026Q1	$48.5M	1.32
2025Q3	$44.5M	1.22
2025Q2	$26.5M	0.72
2025Q1	$41.6M	1.14
2024Q3	$40.9M	1.13
2024Q2	$23.8M	0.66
2024Q1	$33.8M	0.93
2023Q3	$37.9M	1.05
2023Q2	$28.7M	0.79
2023Q1	$31.1M	0.86

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Other events, Exhibits
SEC8/21/2026material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC8/5/2026material
10-Q filing
SEC8/5/2026
8-K — Executive/director change, Exhibits
SEC6/23/2026material
8-K — Shareholder vote results
SEC5/22/2026material
8-K — Material agreement, Other events, Exhibits
SEC5/8/2026material
8-K — Reg FD disclosure, Exhibits
SEC5/8/2026material
10-Q filing
SEC5/5/2026
8-K — Results of operations, Exhibits
SEC5/5/2026material
8-K — Executive/director change, Exhibits
SEC4/21/2026material
8-K — Reg FD disclosure, Exhibits
SEC2/27/2026material
10-K filing
SEC2/24/2026
8-K — Results of operations, Exhibits
SEC2/24/2026material
8-K — Other events, Exhibits
SEC2/24/2026material
8-K — Termination of agreement, Exhibits
SEC1/29/2026material
8-K — Material agreement, Material financial obligation, Exhibits
SEC1/27/2026material

2025

8-K — Reg FD disclosure, Exhibits
SEC11/7/2025material
10-Q filing
SEC11/5/2025
8-K — Results of operations, Exhibits
SEC11/5/2025material
8-K — Material agreement, Material financial obligation, Exhibits
SEC10/16/2025material
8-K — Other events, Exhibits
SEC8/15/2025material
10-Q filing
SEC8/6/2025
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC8/6/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.