What is MGE Energy's invested capital?

MGE Energy (MGEE) reported invested capital of $2.26B in Q1 2026.

How has MGE Energy's invested capital changed year-over-year?

MGE Energy's invested capital increased by 13.5% year-over-year, from $1.99B to $2.26B.

What is the long-term trend for MGE Energy's invested capital?

Over 5 years (2020 to 2025), MGE Energy's invested capital has grown at a 7.7% compound annual growth rate (CAGR), from $1.52B to $2.2B.

What does invested capital mean?

Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).

MGE Energy MGEE Invested capital

Discontinued — last reported Q1 '26

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Other financials

Income statement

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Revenue$242.7M+10.8%

Operating income$53.2M+0.5%

Net income$48.5M+16.6%

EPS (diluted)$1.32+15.8%

Balance sheet

See full

Cash & equivalents$9.5M-73.2%

Total debt$920.6M+19.9%

Total equity$1.3B+7.2%

Total assets$3.2B+12.1%

Cash flow

See full

Operating cash flow$80.7M+3.6%

CapEx$101.1M+112%

Free cash flow-$20.4M-168%

Valuation

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Market cap$2.92B-16.7%

Enterprise value$3.83B-9.4%

P/E20.4×-6.9×

P/S3.8×-1.2×

Profitability

See full

Operating margin22.3%-0.2pp

Net margin18.6%+0.4pp

FCF margin-17%—

Returns & leverage

See full

Return on equity10.9%+0.3pp

Debt / equity0.7×+0.1×

Current ratio1.2×-0.9×

Where this comes from

Calculated from MGE Energy’s reported figures.

$920.6Mtotal debt+$1.3Btotal stockholders equity−$9.5Mcash and equivalents=$2.26B

The official record: MGE Energy’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is MGE Energy's invested capital?: MGE Energy (MGEE) reported invested capital of $2.26B in Q1 2026.
How has MGE Energy's invested capital changed year-over-year?: MGE Energy's invested capital increased by 13.5% year-over-year, from $1.99B to $2.26B.
What is the long-term trend for MGE Energy's invested capital?: Over 5 years (2020 to 2025), MGE Energy's invested capital has grown at a 7.7% compound annual growth rate (CAGR), from $1.52B to $2.2B.
What does invested capital mean?: Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).