MGE Energy Balance Sheet

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
Cash & Equivalents	5.67	21.3	11.14	11.6	17.44
Accounts Receivable	100.33	87.11	79.92	98.49	81.02
Other Receivables	12.98	10.07	15.62	11.42	16.09
Inventory	64.18	67.65	72.65	74.28	51.96
Prepaid Expenses	19.31	18.39	22.31	19.13	20.21
Restricted Cash	0.95	1.11	0.86	0.87	0.85
Other Current Assets	25.13	21.64	35.71	27.69	11.8
Total Current Assets	228.55	227.27	238.2	243.48	199.37
Property, Plant & Equipment	2,580	2,295	2,136	1,979	1,887
Regulatory Assets	42.76	36.76	81.59	103.9	107.55
Other Intangible Assets	8.8	8.5	10.7	12.9	15.6
Long-Term Investments	127.91	118.04	112.82	105.88	98.75
Long-Term Deferred Charges	2.3	10.39	2.48	3.68	3.57
Other Long-Term Assets	164.99	132.26	93.9	68.87	60.33
Total Assets	3,155	2,828	2,675	2,518	2,372
Accounts Payable	117.67	77.47	65.45	59.33	64.15
Accrued Expenses	27.51	27.43	25.26	20.93	23.34
Short-Term Debt	94.53	-	38	70.5	5.5
Current Portion of Long-Term Debt	21.63	5.29	5.15	54.31	4.89
Current Portion of Leases	1.34	1.36	1.29	1.18	1.21
Other Current Liabilities	34.02	14.02	22.01	18.81	18.76
Total Current Liabilities	296.71	125.56	157.16	225.06	117.85
Long-Term Debt	792.21	763.7	718.82	585.25	614.21
Long-Term Leases	26.03	26.25	25.84	25.02	25.29
Pension & Post-Retirement Benefits	51.11	50.16	55.06	53.61	73.09
Long-Term Deferred Tax Liabilities	386.41	361.39	325.92	300.93	275.99
Other Long-Term Liabilities	299.03	270.77	252.59	246.06	238.02
Total Liabilities	1,851	1,598	1,535	1,436	1,344
Common Stock	36.54	36.49	36.16	36.16	36.16
Additional Paid-In Capital	434.96	429.52	396.75	395.66	394.9
Retained Earnings	832.44	764.13	707.16	649.85	596.4
Shareholders' Equity	1,304	1,230	1,140	1,082	1,027
Total Liabilities & Equity	3,155	2,828	2,675	2,518	2,372
Total Debt	935.73	796.59	789.09	736.26	651.1
Net Cash (Debt)	-930.07	-775.29	-777.95	-724.65	-633.66
Net Cash Per Share	-25.43	-21.39	-21.50	-20.03	-17.52
Filing Date Shares Outstanding	36.56	36.51	36.17	36.16	36.16
Total Common Shares Outstanding	36.54	36.49	36.16	36.16	36.16
Working Capital	-68.16	101.7	81.04	18.42	81.52
Book Value Per Share	35.68	33.71	31.53	29.91	28.41
Tangible Book Value	1,295	1,222	1,129	1,069	1,012
Tangible Book Value Per Share	35.44	33.48	31.23	29.55	27.98
Machinery	3,426	3,206	2,828	2,619	2,540
Construction In Progress	292.97	138.21	110.09	105.75	50.6

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.

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