MGE Energy Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	743.65	676.94	690.43	714.52	606.58
Revenue Growth (YoY)	9.86%	-1.95%	-3.37%	17.79%	12.62%
Fuel and Purchased Power Expense	197.88	169.54	205.5	260.72	193.72
Operations and Maintenance Expenses	236.88	228.58	215.89	209.88	199.32
Gross Profit	308.9	278.83	269.04	243.92	213.55
Depreciation & Amortization Expenses	114.32	108.58	100.35	85.55	76.98
Taxes Other than Income Tax	23.92	23.99	22.31	20.63	19.27
Operating Income	170.65	146.26	146.39	137.74	117.29
Interest Expense	-33.8	-32.93	-30.43	-26.65	-24.11
Other Non-Operating Income (Expense)	19.8	17.83	29.55	26.08	16.69
Total Non-Operating Income (Expense)	-14	-15.1	-0.88	-0.57	-7.42
Pretax Income	156.65	131.17	145.5	137.18	109.88
Provision for Income Taxes	20.77	10.6	27.8	26.22	4.12
Net Income	135.89	120.57	117.7	110.95	105.76
Net Income to Common	135.89	120.57	117.7	110.95	105.76
Net Income Growth	12.71%	2.44%	6.08%	4.91%	14.44%
Shares Outstanding (Basic)	37	36	36	36	36
Shares Outstanding (Diluted)	37	36	36	36	36
Shares Change (YoY)	0.92%	0.15%	0.03%	0.02%	1.56%
EPS (Basic)	3.72	3.33	3.25	3.07	2.92
EPS (Diluted)	3.72	3.33	3.25	3.07	2.92
EPS Growth	11.71%	2.46%	5.86%	5.14%	12.31%
Free Cash Flow	-79.99	40.86	15.49	-21.3	-15.64
Free Cash Flow Growth	-	163.78%	-	-	-
Free Cash Flow Per Share	-2.19	1.13	0.43	-0.59	-0.43
Dividends Per Share	1.850	1.760	1.670	1.590	1.520
Dividend Growth	5.11%	5.39%	5.03%	4.61%	4.83%
Gross Margin	41.54%	41.19%	38.97%	34.14%	35.21%
Operating Margin	22.95%	21.61%	21.20%	19.28%	19.34%
Profit Margin	18.27%	17.81%	17.05%	15.53%	17.44%
FCF Margin	-10.76%	6.04%	2.24%	-2.98%	-2.58%
EBITDA	284.98	254.84	246.74	223.29	194.28
EBITDA Margin	38.32%	37.65%	35.74%	31.25%	32.03%
EBIT	170.65	146.26	146.39	137.74	117.29
EBIT Margin	22.95%	21.61%	21.20%	19.28%	19.34%
Effective Tax Rate	13.26%	8.08%	19.11%	19.12%	3.75%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Utilities template. Financial Sources.

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