How does MGE Energy (MGEE) make money?

MGE Energy (MGEE) generates revenue primarily from Electric, which accounted for 64.3% of total revenue in TTM through Q1 2026. The company reported $767.39M in revenue and converted 18.6% of it into net profit, equivalent to roughly $142.78M in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of MGE Energy (MGEE)?

MGE Energy (MGEE) reported a gross profit margin of 77.2% in TTM through Q1 2026, equivalent to $592.22M in gross profit on $767.39M in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of MGE Energy (MGEE)?

MGE Energy (MGEE) reported an operating profit margin of 22.3% in TTM through Q1 2026, equivalent to $170.94M in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of MGE Energy (MGEE)?

MGE Energy (MGEE) reported a net profit margin of 18.6% in TTM through Q1 2026, equivalent to $142.78M in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is MGE Energy (MGEE) profitable?

Yes. MGE Energy (MGEE) reported $142.78M in net income for TTM through Q1 2026, with a net profit margin of 18.6%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does MGE Energy (MGEE) spend on capital expenditures?

MGE Energy (MGEE) spent $396.71M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 51.7% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does MGE Energy (MGEE) generate?

MGE Energy (MGEE) generated −$130.64M in free cash flow during TTM through Q1 2026, a free-cash-flow margin of -17.0%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of MGE Energy (MGEE)?

MGE Energy (MGEE) had an effective tax rate of 12.5% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of MGE Energy (MGEE)?

MGE Energy (MGEE) reports revenue across 3 reportable product segments, led by Electric at 64.3% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How MGE Energy Makes Money: 2026 Visual Revenue Map

MGE Energy (MGEE) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 5, 2026).

MGE Energy discloses geographic revenue only in annual filings. to view the full breakdown.

MGE Energy (MGEE) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for MGE Energy (MGEE) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Electric	$493.45M	64.3%
Gas	$231.93M	30.2%
Non Regulated Energy	$42.01M	5.5%
Total	$767.39M	100%

Electric$493.45M
Gas$231.93M
Non Regulated Energy$42.01M
Total$767.39M

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, MGE Energy (MGEE) reports revenue across 3 operating segments; the largest segment was Electric at 64.3%, followed by Gas (30.2%) and Non Regulated Energy (5.5%).

Frequently asked questions

Data & methodology

MGE Energy (MGEE) Key Financials

Charts, filings, and peer comparison for every metric

Explore more

Deep-dives across the income statement, cash flow, capital return, and valuation

Overview

MGEE Overview

Counters

Income Statement

Cash Flow

Capital Return

Forecast & Valuation