MGE Energy vs TXNM Energy
TXNM Energy reported revenue of $2.2 billion in fiscal 2025, 2.9 times MGE Energy's $744 million in fiscal 2025. MGE Energy's revenue grew 9.8% in its latest year, and TXNM Energy's grew 9.9%. MGE Energy had an operating margin of 22.9%, against 20.4% at TXNM Energy. Free cash flow was −$80 million at MGE Energy and −$611 million at TXNM Energy.
Side by side
| MGE Energy | TXNM Energy | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $744M | $2.2B |
| Revenue growth | 9.8% | 9.9% |
| Revenue growth a year, last 5 years | 6.7% | 7.3% |
| Gross margin | — | — |
| Operating margin | 22.9% | 20.4% |
| Net margin | 18.3% | 7.8% |
| Free cash flow | −$80M | −$611M |
| Free cash flow margin | −10.8% | −28.2% |
| Return on capital | 7.0% | 4.8% |
| Net debt to EBITDA | — | 6.1x |
| Dividends and buybacks | $68M | $175M |
| Change in diluted share count | 0.9% | 13.0% |
| Last close | $73.54 | $58.40 |
| P/E at the last close | 18.9× | 44.2× |
| Insider trades, last 12 months | bought $92,720, sold $0 | sold $103,932 |
| Piotroski F-score | 5 of 8 | 6 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
MGE EnergyTXNM Energy
Operating margin
Percent of revenue
MGE EnergyTXNM Energy
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
MGE EnergyTXNM Energy
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the MGE Energy and TXNM Energy pages.