MGE Energy Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	767.39	743.65	676.94	690.43	714.52	606.58
Revenue Growth (YoY)	8.91%	9.86%	-1.95%	-3.37%	17.79%	12.62%
Fuel and Purchased Power Expense	215.57	197.88	169.54	205.5	260.72	193.72
Operations and Maintenance Expenses	241.89	236.88	228.58	215.89	209.88	199.32
Gross Profit	309.93	308.9	278.83	269.04	243.92	213.55
Depreciation & Amortization Expenses	114.74	114.32	108.58	100.35	85.55	76.98
Taxes Other than Income Tax	24.26	23.92	23.99	22.31	20.63	19.27
Operating Income	170.94	170.65	146.26	146.39	137.74	117.29
Interest Expense	-36.02	-33.8	-32.93	-30.43	-26.65	-24.11
Other Non-Operating Income (Expense)	28.19	19.8	17.83	29.55	26.08	16.69
Total Non-Operating Income (Expense)	-7.84	-14	-15.1	-0.88	-0.57	-7.42
Pretax Income	163.1	156.65	131.17	145.5	137.18	109.88
Provision for Income Taxes	20.33	20.77	10.6	27.8	26.22	4.12
Net Income	142.78	135.89	120.57	117.7	110.95	105.76
Net Income to Common	142.78	135.89	120.57	117.7	110.95	105.76
Net Income Growth	11.24%	12.71%	2.44%	6.08%	4.91%	14.44%
Shares Outstanding (Basic)	37	37	36	36	36	36
Shares Outstanding (Diluted)	37	37	36	36	36	36
Shares Change (YoY)	0.72%	0.92%	0.15%	0.03%	0.02%	1.56%
EPS (Basic)	3.91	3.72	3.33	3.25	3.07	2.92
EPS (Diluted)	3.90	3.72	3.33	3.25	3.07	2.92
EPS Growth	10.17%	11.71%	2.46%	5.86%	5.14%	12.31%
Shares Outstanding	36.75	36.54	36.49	36.16	36.16	36.16
Free Cash Flow	-130.64	-79.99	40.86	15.49	-21.3	-15.64
Free Cash Flow Growth	-	-	163.78%	-	-	-
Free Cash Flow Per Share	-3.57	-2.19	1.13	0.43	-0.59	-0.43
Dividends Per Share	1.875	1.850	1.760	1.670	1.590	1.520
Dividend Growth	1.35%	5.11%	5.39%	5.03%	4.61%	4.83%
Gross Margin	40.39%	41.54%	41.19%	38.97%	34.14%	35.21%
Operating Margin	22.28%	22.95%	21.61%	21.20%	19.28%	19.34%
Profit Margin	18.61%	18.27%	17.81%	17.05%	15.53%	17.44%
FCF Margin	-17.02%	-10.76%	6.04%	2.24%	-2.98%	-2.58%
EBITDA	285.68	284.98	254.84	246.74	223.29	194.28
EBITDA Margin	37.23%	38.32%	37.65%	35.74%	31.25%	32.03%
EBIT	170.94	170.65	146.26	146.39	137.74	117.29
EBIT Margin	22.28%	22.95%	21.61%	21.20%	19.28%	19.34%
Effective Tax Rate	12.46%	13.26%	8.08%	19.11%	19.12%	3.75%

Updated May 5, 2026. Data Source: Fiscal.ai. Utilities template. Financial Sources.

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