Question 1

What is MGE Energy's P/FCF ratio?

Accepted Answer

MGE Energy (MGEE) P/FCF ratio is 68.8× as of November 4, 2025. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for MGE Energy?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For MGE Energy specifically, the relevant sector benchmark is the current sector median of 45.4×.

Question 5

Is MGE Energy's P/FCF ratio high or low?

Accepted Answer

MGE Energy's P/FCF ratio of 68.8× is below its own 5-year average of 162.1× and above the sector median of 45.4×. That places the current reading at the 12th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is MGE Energy's historical P/FCF ratio range?

Accepted Answer

In the available daily series, MGE Energy (MGEE) P/FCF ratio has ranged from a low of 12.2× in 2011 to a high of 454.3× in 2022. The 5-year average is 162.1× and the 5-year median is 136.9×.

Question 7

What was MGE Energy's P/FCF ratio in 2024?

Accepted Answer

MGE Energy (MGEE) P/FCF ratio at the end of 2024 was 83.5×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does MGE Energy's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$2.86B	-$80M	—	—	Dec 31, 2025
2024	$3.41B	$40.9M	83.5×	-85.3×	Dec 31, 2024
2023	$2.61B	$15.5M	168.8×	—	Dec 31, 2023
2022	$2.55B	-$21.3M	—	—	Dec 31, 2022
2021	$2.97B	-$15.6M	—	—	Dec 31, 2021
2020	$2.53B	-$30.7M	—	—	Dec 31, 2020
2019	$2.73B	-$33.6M	—	—	Dec 31, 2019
2018	$2.08B	-$59.2M	—	—	Dec 31, 2018
2017	$2.19B	$24.9M	88.0×	+52.5×	Dec 31, 2017
2016	$2.26B	$63.9M	35.5×	+12.2×	Dec 31, 2016
2015	$1.61B	$69.2M	23.3×	-20.6×	Dec 31, 2015
2014	$1.58B	$36.1M	43.8×	-19.1×	Dec 31, 2014
2013	$1.33B	$21.2M	62.9×	+38.1×	Dec 31, 2013
2012	$1.18B	$47.6M	24.8×	+8.3×	Dec 31, 2012
2011	$1.08B	$65.6M	16.5×	+1.0×	Dec 31, 2011
2010	$988M	$64M	15.5×	-5.2×	Dec 31, 2010
2009	$826M	$40M	20.7×	—	Dec 31, 2009
2008	$741M	-$31.1M	—	—	Dec 31, 2008
2007	$777M	-$59.7M	—	—	Dec 31, 2007
2006	$759M	$8.46M	89.7×	—	Dec 31, 2006
2005	$693M	-$35.9M	—	—	Dec 31, 2005
2004	$732M	-$36.9M	—	—	Dec 31, 2004
2003	$572M	-$14.4M	—	—	Dec 31, 2003
2002	$469M	-$21.6M	—	—	Dec 31, 2002


Eversource Energy (ES)	110.1×
Constellation Energy (CEG)	86.9×
NextEra Energy (NEE)	82.1×
American States Water (AWR)	77.8×
Middlesex Water (MSEX)	63.1×
Vistra (VST)	45.4×
UGI (UGI)	32.9×
FirstEnergy (FE)	16.3×
Duke Energy (DUK)	15.4×
Consolidated Edison (ED)	14.6×
American Electric Power Company (AEP)	9.3×

P/FCF Ratio for MGE Energy (MGEE) 2006-2026

P/FCF Ratio daily chart for MGE Energy (MGEE)

Historical P/FCF Ratio for MGE Energy (MGEE) from 2002 to 2025

About P/FCF Ratio at MGE Energy (MGEE)

MGE Energy P/FCF Ratio by Year

MGE Energy P/FCF Ratio 2024: 83.5×

MGE Energy P/FCF Ratio 2023: 168.8×

MGE Energy P/FCF Ratio 2017: 88.0×

MGE Energy P/FCF Ratio 2016: 35.5×

MGE Energy P/FCF Ratio 2015: 23.3×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

MGE Energy (MGEE) Key Financials