MGE Energy Inc (MGEE)

Debt-to-capital ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	763,697	715,268	716,461	717,646	718,822	690,028	651,654	652,804	585,246	561,566	592,689	613,105	614,211	615,311	556,431	518,211	519,303	520,383	521,456	522,614
Total stockholders’ equity	US$ in thousands	1,230,140	1,195,260	1,167,630	1,158,780	1,140,070	1,135,250	1,112,580	1,098,370	1,081,670	1,075,200	1,056,060	1,048,150	1,027,470	1,028,280	1,007,300	997,711	976,000	973,584	955,171	869,492
Debt-to-capital ratio		0.38	0.37	0.38	0.38	0.39	0.38	0.37	0.37	0.35	0.34	0.36	0.37	0.37	0.37	0.36	0.34	0.35	0.35	0.35	0.38

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $763,697K ÷ ($763,697K + $1,230,140K)
= 0.38

The debt-to-capital ratio of MGE Energy Inc has shown relative stability over the last few years, hovering around the range of 0.34 to 0.39. This ratio indicates the proportion of the company's capital that is financed through debt, with the remainder being funded by equity.

Overall, the trend suggests that MGE Energy Inc has been maintaining a moderate level of debt in relation to its total capital structure. A decreasing trend in the most recent periods may indicate a slight reduction in the company's reliance on debt financing, potentially improving its financial leverage and risk profile.

It is important for investors and analysts to continue monitoring the debt-to-capital ratio along with other financial metrics to assess the company's overall financial health and ability to meet its debt obligations.