Question 1

What is MGE Energy's P/E ratio?

Accepted Answer

MGE Energy (MGEE) P/E ratio is 19.4× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. 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/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

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

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For MGE Energy specifically, the relevant sector benchmark is the current sector median of 21.4×.

Question 5

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

Accepted Answer

MGE Energy's P/E ratio of 19.4× is below its own 5-year average of 24.5× and below the sector median of 21.4×. That places the current reading at the 1th 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/E ratio range?

Accepted Answer

In the available daily series, MGE Energy (MGEE) P/E ratio has ranged from a low of 13.4× in 2009 to a high of 33.0× in 2024. The 5-year average is 24.5× and the 5-year median is 24.6×.

Question 7

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

Accepted Answer

MGE Energy (MGEE) P/E ratio at the end of 2025 was 21.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). 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	$135.89M	21.1×	-7.2×	Dec 31, 2025
2024	$3.41B	$120.57M	28.3×	+6.1×	Dec 31, 2024
2023	$2.61B	$117.70M	22.2×	-0.7×	Dec 31, 2023
2022	$2.55B	$110.95M	22.9×	-5.2×	Dec 31, 2022
2021	$2.97B	$105.76M	28.1×	+0.7×	Dec 31, 2021
2020	$2.53B	$92.42M	27.4×	-4.1×	Dec 31, 2020
2019	$2.73B	$86.87M	31.5×	+6.2×	Dec 31, 2019
2018	$2.08B	$82.47M	25.2×	+2.8×	Dec 31, 2018
2017	$2.19B	$97.61M	22.4×	-7.5×	Dec 31, 2017
2016	$2.26B	$75.56M	30.0×	+7.4×	Dec 31, 2016
2015	$1.61B	$71.34M	22.5×	+2.9×	Dec 31, 2015
2014	$1.58B	$80.32M	19.7×	+1.9×	Dec 31, 2014
2013	$1.33B	$74.91M	17.8×	-0.5×	Dec 31, 2013
2012	$1.18B	$64.45M	18.3×	+0.5×	Dec 31, 2012
2011	$1.08B	$60.93M	17.7×	+0.6×	Dec 31, 2011
2010	$988.47M	$57.72M	17.1×	+0.9×	Dec 31, 2010
2009	$826.21M	$51.00M	16.2×	+2.2×	Dec 31, 2009
2008	$741.21M	$52.77M	14.0×	-1.9×	Dec 31, 2008
2007	$776.62M	$48.83M	15.9×	-2.0×	Dec 31, 2007
2006	$759.47M	$42.42M	17.9×	-3.7×	Dec 31, 2006
2005	$693.39M	$32.09M	21.6×	-0.1×	Dec 31, 2005
2004	$731.77M	$33.69M	21.7×	+3.0×	Dec 31, 2004
2003	$572.29M	$30.64M	18.7×	+2.6×	Dec 31, 2003
2002	$468.64M	$29.19M	16.1×	-0.1×	Dec 31, 2002
2001	$440.53M	$27.25M	16.2×	—	Dec 31, 2001


Alliant Energy (LNT)	22.5×
American States Water (AWR)	22.1×
Middlesex Water (MSEX)	21.8×
Evergy (EVRG)	21.4×
H2O America (HTO)	21.2×
CMS Energy (CMS)	21.1×
Essential Utilities (WTRG)	20.5×
Ameren (AEE)	19.9×
Duke Energy (DUK)	19.8×
American Electric Power Company (AEP)	19.4×
Consolidated Edison (ED)	19.1×
Pinnacle West Capital (PNW)	18.7×
Dominion Energy (D)	18.3×
Black Hills (BKH)	18.2×
Exelon (EXC)	18.1×
Public Service Enterprise Group (PEG)	17.8×
Northwest Natural Holding (NWN)	17.7×
New Jersey Resources (NJR)	16.2×
Avista (AVA)	16.0×
Eversource Energy (ES)	14.9×
Artesian Resources (ARTNA)	14.1×
PG&E (PCG)	13.1×
UGI (UGI)	12.2×
Edison International (EIX)	7.6×
AES (AES)	7.5×

P/E Ratio for MGE Energy (MGEE)

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

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

About P/E Ratio at MGE Energy (MGEE)

MGE Energy P/E Ratio by Year

MGE Energy P/E Ratio 2025: 21.1×

MGE Energy P/E Ratio 2024: 28.3×

MGE Energy P/E Ratio 2023: 22.2×

MGE Energy P/E Ratio 2022: 22.9×

MGE Energy P/E Ratio 2021: 28.1×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

MGE Energy (MGEE) Key Financials

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

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

About P/E Ratio at MGE Energy (MGEE)

MGE Energy P/E Ratio by Year

MGE Energy P/E Ratio 2025: 21.1×

MGE Energy P/E Ratio 2024: 28.3×

MGE Energy P/E Ratio 2023: 22.2×

MGE Energy P/E Ratio 2022: 22.9×

MGE Energy P/E Ratio 2021: 28.1×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

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

+How is the P/E ratio calculated?

+What is the P/E ratio?

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

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

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

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

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

MGE Energy (MGEE) Key Financials