MGE ENERGY INC

For the period ended Dec 31, 2025. Filed Feb 24, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 24, 2026

MGEE$79.72-0.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

MGE Energy, Inc. Consolidated Statements of Income

Consolidated Statements of Income

(In thousands, except per share amounts)

	For the Years Ended December 31,
	2025	2024	2023
Operating Revenues:
Electric revenues	$532,231	$498,357	$490,419
Gas revenues	211,423	178,587	200,012
Total Operating Revenues	743,654	676,944	690,431
Operating Expenses:
Fuel for electric generation	70,847	53,994	57,627
Purchased power	20,004	32,852	41,224
Cost of gas sold	107,026	82,693	106,647
Other operations and maintenance	236,880	228,576	215,891
Depreciation and amortization	114,324	108,581	100,352
Other general taxes	23,920	23,986	22,305
Total Operating Expenses	573,001	530,682	544,046
Operating Income	170,653	146,262	146,385
Other income, net	19,800	17,833	29,546
Interest expense, net	(33,799)	(32,930)	(30,429)
Income before income taxes	156,654	131,165	145,502
Income tax provision	(20,765)	(10,596)	(27,803)
Net Income	$135,889	$120,569	$117,699
Earnings Per Share of Common Stock
Basic	$3.72	$3.33	$3.25
Diluted	$3.72	$3.33	$3.25
Dividends per share of common stock	$1.85	$1.76	$1.67
Weighted Average Shares Outstanding
Basic	36,534	36,210	36,163
Diluted	36,571	36,239	36,186

Consolidated State

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.