MGE Energy Inc. — Earnings Quality Grade F
MGEE · Utilities
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 28 days, change +1 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 9.9%, CFFO -5.2%. Cash follows revenue
Expense Quality
Inventory -5.1% vs COGS 9.2%. Normal
CapEx growth 44.9% is >2x revenue growth 9.9%
Insufficient data
Gross margin 41.5%, change +0.3pp. Stable
Cash Flow Quality
CFFO/NI = 1.94. Profits backed by cash
FCF < 50% of Net Income for 3 years
Accruals ratio = -4.0%. Low accruals
Cash $0.0B covers only 1% of debt $0.9B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 3.0x. Healthy
Other assets -30.2% vs revenue 9.9%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
No goodwill
Manipulation Score
Insufficient data
Portfolio monitoring
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Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25