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and Footnote 16.a. of the Notes to Consolidated Financial Statements in Part II, Item 8 of this Report for a description of several environmental proceedings affecting MGE. See Footnote 16b. of the Notes to Consolidated Financial Statements under Part II, Item 8.
22.95% operating margin is above average. ROIC at 7.03%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue grew 9.9%, steady but not accelerating. Free cash flow declined 296% despite revenue growth, conversion is weakening.
Free cash flow declined 296% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$80M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$767M
▲ +9.9% YoY
Net Income (TTM)
$143M
▲ +12.7% YoY
Op. Margin
22.28%
▲ +1.3pp YoY
ROIC
6.92%
▲ +0.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$131M
▼ -295.8% YoY
Op. Cash Flow (TTM)
$266M
▼ -5.2% YoY
Net Debt
$932M
Cash & Equiv.
$9M
5Y CAGR: +6.7%
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