Question 1

What is MGE Energy's P/B ratio?

Accepted Answer

MGE Energy (MGEE) P/B ratio is 2.1× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. 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/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

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

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For MGE Energy specifically, the relevant sector benchmark is the current sector median of 2.1×.

Question 5

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

Accepted Answer

MGE Energy's P/B ratio of 2.1× is below its own 5-year average of 2.5× and below the sector median of 2.1×. That places the current reading at the 2th 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/B ratio range?

Accepted Answer

In the available daily series, MGE Energy (MGEE) P/B ratio has ranged from a low of 1.1× in 2009 to a high of 4.1× in 2019. The 5-year average is 2.5× and the 5-year median is 2.6×.

Question 7

What was MGE Energy's P/B ratio in 2025?

Accepted Answer

MGE Energy (MGEE) P/B ratio at the end of 2025 was 2.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). 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	$1.30B	2.2×	-0.6×	Dec 31, 2025
2024	$3.41B	$1.23B	2.8×	+0.5×	Dec 31, 2024
2023	$2.61B	$1.14B	2.3×	-0.1×	Dec 31, 2023
2022	$2.55B	$1.08B	2.4×	-0.5×	Dec 31, 2022
2021	$2.97B	$1.03B	2.9×	+0.3×	Dec 31, 2021
2020	$2.53B	$976.00M	2.6×	-0.6×	Dec 31, 2020
2019	$2.73B	$855.68M	3.2×	+0.6×	Dec 31, 2019
2018	$2.08B	$816.64M	2.5×	-0.3×	Dec 31, 2018
2017	$2.19B	$778.19M	2.8×	-0.3×	Dec 31, 2017
2016	$2.26B	$724.09M	3.1×	+0.8×	Dec 31, 2016
2015	$1.61B	$690.46M	2.3×	-0.1×	Dec 31, 2015
2014	$1.58B	$659.40M	2.4×	+0.2×	Dec 31, 2014
2013	$1.33B	$617.51M	2.2×	+0.1×	Dec 31, 2013
2012	$1.18B	$579.43M	2.0×	+0.1×	Dec 31, 2012
2011	$1.08B	$550.95M	2.0×	+0.1×	Dec 31, 2011
2010	$988.47M	$525.08M	1.9×	+0.2×	Dec 31, 2010
2009	$826.21M	$501.80M	1.6×	+0.1×	Dec 31, 2009
2008	$741.21M	$478.20M	1.5×	-0.3×	Dec 31, 2008
2007	$776.62M	$427.73M	1.8×	-0.2×	Dec 31, 2007
2006	$759.47M	$375.35M	2.0×	+0.0×	Dec 31, 2006
2005	$693.39M	$343.88M	2.0×	-0.1×	Dec 31, 2005
2004	$731.77M	$338.20M	2.2×	-0.0×	Dec 31, 2004
2003	$572.29M	$263.07M	2.2×	+0.1×	Dec 31, 2003
2002	$468.64M	$227.37M	2.1×	+0.0×	Dec 31, 2002
2001	$440.53M	$216.29M	2.0×	—	Dec 31, 2001


American Electric Power Company (AEP)	2.2×
New Jersey Resources (NJR)	2.1×
Xcel Energy (XEL)	2.1×
Atmos Energy (ATO)	2.1×
Sempra (SRE)	2.0×
PPL (PPL)	1.9×
Middlesex Water (MSEX)	1.9×
Duke Energy (DUK)	1.9×
Dominion Energy (D)	1.9×
Evergy (EVRG)	1.9×
Pinnacle West Capital (PNW)	1.7×
Exelon (EXC)	1.7×
Essential Utilities (WTRG)	1.7×
Edison International (EIX)	1.6×
Consolidated Edison (ED)	1.6×
Eversource Energy (ES)	1.6×
California Water Service Group (CWT)	1.5×
UGI (UGI)	1.4×
Northwest Natural Holding (NWN)	1.4×
Black Hills (BKH)	1.3×
Artesian Resources (ARTNA)	1.3×
H2O America (HTO)	1.2×
Avista (AVA)	1.2×
PG&E (PCG)	1.2×
Algonquin Power & Utilities (AQN)	1.0×

P/B Ratio for MGE Energy (MGEE)

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

Historical P/B Ratio for MGE Energy (MGEE) from 2001 to 2025

About P/B Ratio at MGE Energy (MGEE)

MGE Energy P/B Ratio by Year

MGE Energy P/B Ratio 2025: 2.2×

MGE Energy P/B Ratio 2024: 2.8×

MGE Energy P/B Ratio 2023: 2.3×

MGE Energy P/B Ratio 2022: 2.4×

MGE Energy P/B Ratio 2021: 2.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

MGE Energy (MGEE) Key Financials

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

Historical P/B Ratio for MGE Energy (MGEE) from 2001 to 2025

About P/B Ratio at MGE Energy (MGEE)

MGE Energy P/B Ratio by Year

MGE Energy P/B Ratio 2025: 2.2×

MGE Energy P/B Ratio 2024: 2.8×

MGE Energy P/B Ratio 2023: 2.3×

MGE Energy P/B Ratio 2022: 2.4×

MGE Energy P/B Ratio 2021: 2.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is MGE Energy's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for MGE Energy?

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

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

+What was MGE Energy's P/B ratio in 2025?

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

MGE Energy (MGEE) Key Financials