MGE Energy Inc (MGEE)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	146,385	150,151	148,846	135,914	137,743	127,057	122,168	120,103	117,294	118,757	119,484	117,611	109,997	113,162	113,575	111,838	110,910	113,023	114,083	118,531
Total assets	US$ in thousands	2,675,460	2,590,530	2,560,070	2,522,200	2,517,600	2,465,690	2,437,230	2,377,540	2,371,910	2,370,730	2,302,080	2,270,240	2,253,650	2,195,730	2,163,720	2,072,700	2,081,660	2,066,970	2,026,090	2,003,570
Operating ROA		5.47%	5.80%	5.81%	5.39%	5.47%	5.15%	5.01%	5.05%	4.95%	5.01%	5.19%	5.18%	4.88%	5.15%	5.25%	5.40%	5.33%	5.47%	5.63%	5.92%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $146,385K ÷ $2,675,460K
= 5.47%

MGE Energy Inc's operating return on assets (operating ROA) has exhibited relatively stable performance over the past few quarters. The operating ROA ranged from 4.88% to 5.92% during the period from March 31, 2019, to December 31, 2023.

The trend indicates that MGE Energy Inc has been effectively utilizing its assets to generate operating income. The average operating ROA over this period was approximately 5.28%, which suggests that the company has been able to generate about 5.28 cents of operating income for every dollar of assets employed.

Overall, the consistent operating ROA values within the range of 4.88% to 5.92% imply that MGE Energy Inc has been maintaining a stable and efficient operational performance in terms of generating income from its assets. However, it would be beneficial to further analyze the company's financial statements and compare its performance to industry benchmarks for a more comprehensive evaluation.