MGE Energy

MGEE

Regulated Electric · Utilities

Price

$81.05

-0.94 (-1.15%)

Market Cap

$3.06B

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count rising — dilution

+1.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 36.2M (2021) → 36.6M (2025)

MGE Energy, Inc., through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other. The company generates, purchases, and distributes electricity; owns or leases electric generation facilities located in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities t

Winston Score History

Politician Trades

4 trades / 12mo

2 Congressional buys and 2 sells on MGEE in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+10.8% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+15.8% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

2.9%ownership

Relatively low insider ownership

Cash Runway

~1 months

$9M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

MGE Energy has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

36.1%

Modest — 36.1% gross margin

Operating Margin

21.9%

Excellent — 21.9% operating margin

ROCE

2.3%

Weak — 2.3% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+8.9%

Steady sales growth (8.9% YoY)

EPS YoY

+10.2%

Earnings growing (10.2% YoY)

Healthy double-digit earnings growth — what compounders look like.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

186%

Turns 186% of profit into real cash

FCF Margin

-17.0%

Burning cash (-17.0%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.70

Moderate — manageable debt (0.70)

Interest Cover

4.75x

Adequate interest coverage (4.7x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

20.8x

Growth-priced — P/E 20.8

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+2.3

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend Yield

2.34%

Moderate income — 2.34% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+5.6%

Dividend growing modestly (5.6% YoY)

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