What is MGE Energy's net debt?

MGE Energy (MGEE) reported net debt of $911.13M in Q1 2026.

How has MGE Energy's net debt changed year-over-year?

MGE Energy's net debt increased by 24.4% year-over-year, from $732.51M to $911.13M.

What is the long-term trend for MGE Energy's net debt?

Over 5 years (2020 to 2025), MGE Energy's net debt has grown at a 10.5% compound annual growth rate (CAGR), from $545.83M to $900.73M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

MGE Energy MGEE Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

Cabot CorporationCBT

1.1×-0.3×

Travel + LeisureTNL

6×+1.6×

UnifirstUNF

-0.2×-0.1×

HES

Hess MidstreamHESM

3.1×-0.1×

Carter'sCRI

3.6×+0.8×

HarmonicHLIT

0.1×-2.0×

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

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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

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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−$9.5Mcash and equivalents=$911.13M

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 net debt?: MGE Energy (MGEE) reported net debt of $911.13M in Q1 2026.
How has MGE Energy's net debt changed year-over-year?: MGE Energy's net debt increased by 24.4% year-over-year, from $732.51M to $911.13M.
What is the long-term trend for MGE Energy's net debt?: Over 5 years (2020 to 2025), MGE Energy's net debt has grown at a 10.5% compound annual growth rate (CAGR), from $545.83M to $900.73M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.